Category: Latin America

  • MIL-OSI Global: Pope Francis: why his papacy matters for Africa – and for the world’s poor and marginalised

    Source: The Conversation – Africa – By Stan Chu Ilo, Research Professor, World Christianity and African Studies, DePaul University

    Pope Francis remains in a critical condition and hospitalised as he battles pneumonia in both lungs. The first pope from the Americas and also the first to come from outside the west in the modern era, the Argentinian was elected leader of the Catholic church on 13 March 2013. At the time, the church was beset by crises, from corruption to clerical sexual abuse. Stan Chu Ilo, a Catholic priest and a research professor of African studies and world Catholicism, examines the milestones in the life, work and legacy of Pope Francis.

    What did Pope Francis inherit when he took over in 2013?

    By the time the Argentinian Cardinal Jorge Bergoglio was elected pope in 2013 there was a general feeling that the Catholic church was reaching the end of an era.

    By the end of 2012 what was in the news about the church included the revelation of papal secrets by the papal butler. These details were published in a book by the Italian journalist Gianluigi Nuzzi, titled His Holiness: The Secret Files of Pope Benedict. The book portrayed the Vatican as a corrupt hotbed of jealousy, intrigue and underhanded factional fighting.

    The revelations caused the church a great deal of embarrassment.

    Some of the challenges facing the church which the ageing Pope Benedict XVI could no longer handle included:

    Cardinal Bergoglio was elected by the Catholic cardinals with a mandate to clean up the church and reform the Vatican and its bureaucracy. He was to institute processes and procedures for transparency, accountability and renewal of the church and its structures, and address the lingering scandals of clerical abuse.

    What is his global papal role and legacy?

    Three key things have defined his papal role and legacy.

    First is concentrating on the core competence of the church: serving the poor and the marginalised. This is what the founder of the Christian religion, Jesus Christ, did.

    Francis has focused the Catholic church and the entire world on one mission: helping the poor, addressing global inequalities, speaking for the voiceless, and placing the attention of the world on those on the periphery.

    He also chose to live simply, forsaking the pomp and pageantry of the papacy.

    Secondly, he changed the way the Catholic church’s message is communicated. In his programmatic document, Evangelii Gaudium, he called the church to what he calls “missionary conversion”. His thinking is that everything that is done in the church must be about proclaiming the good news to a wounded and broken world.

    His central message has been that of mercy towards all, an end to wars, our common humanity and the closeness of God to those who suffer. The suffering in the world continues to grow because of injustice, greed, selfishness and pride. He has also focused on symbols and simple style to press home his message, like celebrating mass at a wall that divides the United States and Mexico.




    Read more:
    Pope Francis: the first post-colonial papacy to deliver messages that resonate with Africans


    In 2015 he made a risky trip to Bangui, the capital of Central African Republic, during a time of war and tension between the fighting factions of the Muslim Seleka and the Christian anti-balaka. He drove on the Popemobile with both the highest ranking Muslim cleric in the country and his Christian counterpart and visited both a Christian church and a mosque to press home the message of peace.

    The third strategy is restructuring the church and reforming the Vatican bank.

    He created the G8 (a representative council of cardinals from every part of the world) to advise him, calling the Catholic church to a synod for dialogue on every aspect of the life of the church. This effort was unprecedented.

    He also overhauled the procedures for the synod of bishops, making it more participatory, and gave women and the non-ordained voting rights. He has also shaken up the membership of the Vatican department that picks bishops to include women. He appointed the first woman (Sr Simone Brambilla) to lead a major Vatican department and to have a cardinal as her deputy. Another woman (Sr Raffaella Petrini) was named the first woman governor of the Vatican City State.

    What has he done to strengthen the Catholic church in Africa?

    Three things stand out.

    First, he reflected the concerns of people on the continent with his message against imperialism, colonialism, exploitation of the poor by the rich, global inequality, neo-liberal capitalism and ecological injustice. Pope Francis became a voice for Africa. When he visited Kenya in 2015, he chose to visit the slums of Nairobi to proclaim the gospel of liberation to the forsaken of society. He called on African governments to guarantee for the poor and all citizens access to land, lodging and labour.

    In a sense, Pope Francis embodies the message of decolonisation and is driven in part by the liberation theology that developed in Latin America. This theology tied religious faith with liberation of the people from structures of injustice and structural violence.

    Secondly, he has encouraged African Catholics to develop Africa’s own unique approach to pastoral life and addressing social issues in Africa. Particularly, Pope Francis believes in decentralisation and local processes in meeting local challenges. He has said many times that it is not necessary that all problems in the church be solved by the pope at the Roman centre of the church.

    In this way, he has encouraged the growth and development of African priorities and cultural adaptation to the Catholic faith. He has also encouraged greater transparency and accountability among African bishops and given African Catholic universities and seminaries greater autonomy to develop their own educational priorities and programmes.

    Thirdly, Pope Francis has a very deep connection to Africa’s young people. He has encouraged and supported initiatives and programmes to strengthen the agency of young people, to give them hope and support their personal, spiritual and professional development. For the first time in history, on 1 November 2022, Pope Francis met virtually with more than 1,000 young Africans for an hour. I helped organise this meeting. He answered their questions and encouraged them to fight for what they believe.

    What’s gone wrong, what’s gone well under his watch?

    Pope Francis’s reform could be termed a movement from a church of a few where priests and bishops and the pope call the shots to a church of the people of God where everyone’s voice matters and where everyone’s concerns and needs are catered to.

    He has quietly changed the tone of the message and the style of the leadership at the Vatican.

    Granted, he has not substantially altered the content of that message, which is often seen as conservative, Eurocentric, and resistant to cultural pluralism and social change. But he is chipping away at its foundations through inclusion and an openness to hearing the voices of everyone, including those who do not agree with the church’s position. In doing this, he has shifted the priorities and practices of the Catholic church regarding such core issues as power and authority.

    He has opened the doors to the voices of the marginalised in the church — women, the poor, the LGBTQi+ community, and those who have disaffiliated from the church. Many African Catholics would love to see more African representation at the Vatican, and many of them also worry about the widening division in the church, particularly driven by cultural and ideological battles in the west that have nothing to do with the social and ecclesial context of Africa.

    Why does his papacy matter?

    Pope Francis is the first pope from the Americas, the first Jesuit pope, the first to choose the name Francis and the first to come from outside the west in the modern era. He chose the name Francis because he wanted to focus his papacy on the poor, emulating St Francis of Assisi.

    In a sense, Pope Francis has redefined what religion and spirituality mean for Catholicism. It’s not laying down and enforcing the law without mercy, it is caring for our neighbours and the Earth. This is the kind of religion the world needs today.

    Stan Chu Ilo 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. Pope Francis: why his papacy matters for Africa – and for the world’s poor and marginalised – https://theconversation.com/pope-francis-why-his-papacy-matters-for-africa-and-for-the-worlds-poor-and-marginalised-251059

    MIL OSI – Global Reports

  • MIL-OSI Africa: Mati Diop is a new star of African cinema – what her award-winning movies are about

    Source: The Conversation – Africa – By David Murphy, Professor of French and Postcolonial Studies, University of Strathclyde

    Mati Diop has cinema in her blood. The 42-year-old Senegalese-French actress launched her feature film directing career in spectacular fashion with Atlantics, which took the top prize at the Cannes Film Festival in 2019 and won a string of awards.

    Her documentary Dahomey has made similar waves and was longlisted for the 2025 Oscars. We asked Senegalese film scholar David Murphy to tell us more.


    Who is Mati Diop?

    Mati Diop is a hugely talented and innovative film director. She is also an accomplished actor who has starred in a number of French films, in particular Claire Denis’s 35 Shots of Rum.

    She was born in Paris in 1982 and was raised in France, but frequently visited Senegal during her childhood, as she comes from a Senegalese cultural dynasty.

    Her father is Wasis Diop, an inventive and experimental musician who fuses Senegalese folk music with western pop and jazz. Her uncle was the maverick Senegalese filmmaker, Djibril Diop Mambéty. He directed classics like Touki Bouki and Hyenas. For good measure, her mother, Christine Brossard, is involved in the French art world and is a photographer.

    Diop poses with her Golden Bear for Best Film for Dahomey on the red carpet at the Berlinale International Film Festival. Maja Hitij/Getty Images

    Although she had previously made short films, Diop gained global attention in 2019 when she won a prestigious award at the Cannes Film Festival for her first feature-length fiction film, Atlantics.

    Her documentary Dahomey won the top award at the 2024 Berlin International Film Festival. Over the past few years, Diop has become established as one of the most creative artistic voices making films about contemporary Africa.

    What’s Dahomey about?

    Dahomey is a documentary about a contentious issue, the repatriation of looted African art works from western museums.

    The objects – 26 royal treasures – were taken from the pre-colonial kingdom of Dahomey (in today’s Benin). President Emmanuel Macron of France has voiced his support for the return of such objects and a slow, piecemeal process of repatriation has now begun.

    On the surface, the story of Dahomey might not seem to be particularly dramatic. Taking objects from a museum in Paris and sending them to a museum in Benin might be politically important and symbolic. But how do you make a creative, insightful and entertaining film about it that also appeals to a wide audience? Well, essentially, Diop weaves a tale that seeks to explore what it means for Africans that this heritage is being returned. To do that, she gives voice to Africans, whether heritage professionals, students or the general public.

    In her most daring creative gesture, she also gives voice to one of the objects being returned, a magnificent, life-sized wooden statue of King Ghézo (who ruled Dahomey in the 1800s), depicted as half-man, half-bird. Many of the items that are displayed in European museums as beautiful but inanimate objects in fact played a highly significant spiritual role in precolonial societies. Essentially, they formed a bridge between the living and the spirit world, and Diop is interested in exploring what it might mean to these spirits to return to an Africa that has been transformed in their absence.

    So, Dahomey is not your average documentary. There’s no narrative voiceover that explains the context of the journey home for these objects. Apart from a few on-screen captions explaining the big picture, viewers must piece together the story and decipher its meaning by themselves.

    In the first half of the film, we see the curators from Benin and French workmen moving through the Quai Branly Museum in Paris. They assess the condition of the fragile objects as they make an inventory of them and box them safely for the trip. At first, theirs are the only voices we hear.


    Read more: The award-winning African documentary project that goes inside the lives of migrants


    But then we begin to hear the deep, electronically distorted voice of the statue of King Ghézo who awakens from a long slumber. In this voiceover (written by the Haitian author Makenzy Orcel), Ghézo reflects on the sense of dislocation and confusion at being taken from Africa, his journey over the sea to be exhibited in a museum in Paris, his memories of the continent he left behind.

    Once the objects arrive in Benin, the film follows a reverse process. The camera dwells on the African workmen overseeing their installation, interspersed with the voice of the statue trying to make sense of the Africa to which he has returned.

    The longest section of the film gives voice to local university students debating what it means to return this heritage. While some view the process as vital, others see it as a distraction from the major issues facing the continent. The film does not seek to nudge the viewer to take sides. What is important is that different African voices are heard so that Africans can reach their own informed decisions.

    What’s Atlantics about?

    Atlantics is a film about the migration crisis that sees many young Senegalese men (and some women) set off from the coast on dangerous journeys in small fishing boats to try and reach the economic promised land of Europe (in this instance, the Canary Islands). But the film is also a love story about a young couple, Ada and Souleiman.

    With a group of young men, many cheated of their wages by a corrupt local businessman, Souleiman embarks on the dangerous journey. The bereft girlfriends and sisters wait for news of their boyfriends and brothers and ultimately take revenge on the businessman. I can’t tell you precisely how this is done without spoiling the plot but let’s just say that the film is a striking mix of social drama and supernatural thriller.

    Why is her contribution to film important?

    Above all else, Mati Diop is a great storyteller. Atlantics and Dahomey are films that take important current affairs as their starting point, and they weave passionate, complex and strange stories around them.

    They’re strange not because Diop is trying to be artistically eccentric, but because life is fundamentally strange and defies easy explanation. This is an artistic standpoint that her uncle would have understood.


    Read more: Souleymane Cissé has died. He was one of Africa’s boldest and most pioneering film-makers


    Like his work, Diop’s fiction films contain long sections dwelling obsessively on the detail of “real” life while her documentaries contain many fictional elements. In fact, her short 2013 documentary A Thousand Suns is a wonderful homage to the beautiful strangeness of Mambety’s work. In a remarkable blend of fact and fiction, she traces the story of the actors who played the young couple in his avant-garde masterpiece, Touki Bouki.

    In the work of both uncle and niece, the real and the fictional, the strange and the mundane are mixed together to make a mysterious and strikingly original body of work that defies categorisation.

    – Mati Diop is a new star of African cinema – what her award-winning movies are about
    – https://theconversation.com/mati-diop-is-a-new-star-of-african-cinema-what-her-award-winning-movies-are-about-250417

    MIL OSI Africa

  • MIL-OSI Africa: Pope Francis: why his papacy matters for Africa – and for the world’s poor and marginalised

    Source: The Conversation – Africa – By Stan Chu Ilo, Research Professor, World Christianity and African Studies, DePaul University

    Pope Francis remains in a critical condition and hospitalised as he battles pneumonia in both lungs. The first pope from the Americas and also the first to come from outside the west in the modern era, the Argentinian was elected leader of the Catholic church on 13 March 2013. At the time, the church was beset by crises, from corruption to clerical sexual abuse. Stan Chu Ilo, a Catholic priest and a research professor of African studies and world Catholicism, examines the milestones in the life, work and legacy of Pope Francis.

    What did Pope Francis inherit when he took over in 2013?

    By the time the Argentinian Cardinal Jorge Bergoglio was elected pope in 2013 there was a general feeling that the Catholic church was reaching the end of an era.

    By the end of 2012 what was in the news about the church included the revelation of papal secrets by the papal butler. These details were published in a book by the Italian journalist Gianluigi Nuzzi, titled His Holiness: The Secret Files of Pope Benedict. The book portrayed the Vatican as a corrupt hotbed of jealousy, intrigue and underhanded factional fighting.

    The revelations caused the church a great deal of embarrassment.

    Some of the challenges facing the church which the ageing Pope Benedict XVI could no longer handle included:

    Cardinal Bergoglio was elected by the Catholic cardinals with a mandate to clean up the church and reform the Vatican and its bureaucracy. He was to institute processes and procedures for transparency, accountability and renewal of the church and its structures, and address the lingering scandals of clerical abuse.

    What is his global papal role and legacy?

    Three key things have defined his papal role and legacy.

    First is concentrating on the core competence of the church: serving the poor and the marginalised. This is what the founder of the Christian religion, Jesus Christ, did.

    Francis has focused the Catholic church and the entire world on one mission: helping the poor, addressing global inequalities, speaking for the voiceless, and placing the attention of the world on those on the periphery.

    He also chose to live simply, forsaking the pomp and pageantry of the papacy.

    Secondly, he changed the way the Catholic church’s message is communicated. In his programmatic document, Evangelii Gaudium, he called the church to what he calls “missionary conversion”. His thinking is that everything that is done in the church must be about proclaiming the good news to a wounded and broken world.

    His central message has been that of mercy towards all, an end to wars, our common humanity and the closeness of God to those who suffer. The suffering in the world continues to grow because of injustice, greed, selfishness and pride. He has also focused on symbols and simple style to press home his message, like celebrating mass at a wall that divides the United States and Mexico.


    Read more: Pope Francis: the first post-colonial papacy to deliver messages that resonate with Africans


    In 2015 he made a risky trip to Bangui, the capital of Central African Republic, during a time of war and tension between the fighting factions of the Muslim Seleka and the Christian anti-balaka. He drove on the Popemobile with both the highest ranking Muslim cleric in the country and his Christian counterpart and visited both a Christian church and a mosque to press home the message of peace.

    The third strategy is restructuring the church and reforming the Vatican bank.

    He created the G8 (a representative council of cardinals from every part of the world) to advise him, calling the Catholic church to a synod for dialogue on every aspect of the life of the church. This effort was unprecedented.

    He also overhauled the procedures for the synod of bishops, making it more participatory, and gave women and the non-ordained voting rights. He has also shaken up the membership of the Vatican department that picks bishops to include women. He appointed the first woman (Sr Simone Brambilla) to lead a major Vatican department and to have a cardinal as her deputy. Another woman (Sr Raffaella Petrini) was named the first woman governor of the Vatican City State.

    What has he done to strengthen the Catholic church in Africa?

    Three things stand out.

    First, he reflected the concerns of people on the continent with his message against imperialism, colonialism, exploitation of the poor by the rich, global inequality, neo-liberal capitalism and ecological injustice. Pope Francis became a voice for Africa. When he visited Kenya in 2015, he chose to visit the slums of Nairobi to proclaim the gospel of liberation to the forsaken of society. He called on African governments to guarantee for the poor and all citizens access to land, lodging and labour.

    In a sense, Pope Francis embodies the message of decolonisation and is driven in part by the liberation theology that developed in Latin America. This theology tied religious faith with liberation of the people from structures of injustice and structural violence.

    Secondly, he has encouraged African Catholics to develop Africa’s own unique approach to pastoral life and addressing social issues in Africa. Particularly, Pope Francis believes in decentralisation and local processes in meeting local challenges. He has said many times that it is not necessary that all problems in the church be solved by the pope at the Roman centre of the church.

    In this way, he has encouraged the growth and development of African priorities and cultural adaptation to the Catholic faith. He has also encouraged greater transparency and accountability among African bishops and given African Catholic universities and seminaries greater autonomy to develop their own educational priorities and programmes.

    Thirdly, Pope Francis has a very deep connection to Africa’s young people. He has encouraged and supported initiatives and programmes to strengthen the agency of young people, to give them hope and support their personal, spiritual and professional development. For the first time in history, on 1 November 2022, Pope Francis met virtually with more than 1,000 young Africans for an hour. I helped organise this meeting. He answered their questions and encouraged them to fight for what they believe.

    What’s gone wrong, what’s gone well under his watch?

    Pope Francis’s reform could be termed a movement from a church of a few where priests and bishops and the pope call the shots to a church of the people of God where everyone’s voice matters and where everyone’s concerns and needs are catered to.

    He has quietly changed the tone of the message and the style of the leadership at the Vatican.

    Granted, he has not substantially altered the content of that message, which is often seen as conservative, Eurocentric, and resistant to cultural pluralism and social change. But he is chipping away at its foundations through inclusion and an openness to hearing the voices of everyone, including those who do not agree with the church’s position. In doing this, he has shifted the priorities and practices of the Catholic church regarding such core issues as power and authority.

    He has opened the doors to the voices of the marginalised in the church — women, the poor, the LGBTQi+ community, and those who have disaffiliated from the church. Many African Catholics would love to see more African representation at the Vatican, and many of them also worry about the widening division in the church, particularly driven by cultural and ideological battles in the west that have nothing to do with the social and ecclesial context of Africa.

    Why does his papacy matter?

    Pope Francis is the first pope from the Americas, the first Jesuit pope, the first to choose the name Francis and the first to come from outside the west in the modern era. He chose the name Francis because he wanted to focus his papacy on the poor, emulating St Francis of Assisi.

    In a sense, Pope Francis has redefined what religion and spirituality mean for Catholicism. It’s not laying down and enforcing the law without mercy, it is caring for our neighbours and the Earth. This is the kind of religion the world needs today.

    – Pope Francis: why his papacy matters for Africa – and for the world’s poor and marginalised
    – https://theconversation.com/pope-francis-why-his-papacy-matters-for-africa-and-for-the-worlds-poor-and-marginalised-251059

    MIL OSI Africa

  • MIL-OSI USA: Gross Domestic Product, 4th Quarter and Year 2024 (Second Estimate)

    Source: US Bureau of Economic Analysis

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

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

    Real GDP was revised up by less than 0.1 percentage point from the advance estimate released last month, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment.

    Compared to the third quarter, the deceleration in real GDP in the fourth quarter primarily reflected downturns in investment and exports that were partly offset by an acceleration in consumer spending. Imports turned down.

    The price index for gross domestic purchases increased 2.3 percent in the fourth quarter, revised up 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 2.4 percent, revised up 0.1 percentage point. Excluding food and energy prices, the PCE price index increased 2.7 percent, revised up 0.2 percentage point.

    Real GDP and Related Measures
    (Percent change from Q3 to Q4)
      Advance Estimate Second Estimate
    Real GDP 2.3 2.3
    Current-dollar GDP 4.5 4.8
    Gross domestic purchases price index 2.2 2.3
    PCE price index 2.3 2.4
    PCE price index excluding food and energy 2.5 2.7

    GDP for 2024

    Real GDP increased 2.8 percent in 2024 (from the 2023 annual level to the 2024 annual level), the same as previously estimated. The increase in real GDP in 2024 reflected increases in consumer spending, investment, government spending, and exports. Imports increased.

    The price index for gross domestic purchases increased 2.4 percent in 2024, revised up 0.1 percentage point. The PCE price index increased 2.5 percent, the same as the previous estimate. Excluding food and energy prices, the PCE price index increased 2.8 percent, also the same as the previous estimate.

    Next release: March 27, 2025, at 8:30 a.m. EDT
    Gross Domestic Product (Third Estimate)
    Corporate Profits
    Gross Domestic Product by Industry
    4th Quarter and Year 2024

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

    Technical Notes

    Sources of revisions to real GDP in the second estimate

    Real GDP increased at an annual rate of 2.3 percent (0.6 percent at a quarterly rate1), an upward revision of less than 0.1 percentage point from the previous estimate, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment. Imports, which are a subtraction in the calculation of GDP, were revised down.

    • The revision to government spending primarily reflected an upward revision to federal government spending (notably, defense consumption expenditures), based on Bureau of Labor Statistics (BLS) employment data.
    • For both exports and imports, the revised estimates primarily reflected updated data from BEA’s International Transactions Accounts as well as new and revised Census Bureau trade in goods data for December. The revision to imports was led by a downward revision to other goods, reflecting a downward revision to the territorial adjustment.2
    • The downward revision to consumer spending reflected a downward revision to goods that was partly offset by an upward revision to services.
      • Within goods, the downward revision was led by other durable goods (notably, jewelry and watches), based on revised Census Bureau Monthly Retail Trade Survey (MRTS) data.
      • Within services, the upward revision was led by recreation services (led by video and audio streaming and rental), based primarily on financial reports for publicly traded companies, and food services, based on revised Census MRTS data.
    • The downward revision to investment reflected a downward revision to nonresidential fixed investment that was partly offset by an upward revision to private inventory investment.
      • Within nonresidential fixed investment, the leading contributor to the downward revision was intellectual property products (led by research and development), based on R&D expenses reported by publicly traded companies.
      • Within private inventory investment, the revision primarily reflected an upward revision to nonfarm inventories (led by merchant wholesale), based primarily on revised Census Bureau book value data.

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


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

    2. Consists of transactions between the United States and its territories, Puerto Rico, and the Northern Mariana Islands. The treatment of U.S. territories, Puerto Rico, and the Northern Mariana Islands in the National Income and Product Accounts (NIPAs) differs from that in the International Transactions Accounts (ITAs). In the NIPAs, U.S. territories are included in the rest of the world; in the ITAs, they are treated as part of the United States.

    MIL OSI USA News

  • MIL-OSI: Lingokids Introduces “Theater” Mode: A Safe, Ad-Free Video Experience for Kids

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) — Lingokids, the #1 learning app for kids, has introduced a new feature, Theater, in selected markets. This dedicated space within the app offers a curated, ad-free video experience designed to provide children with high-quality educational and entertaining content.

    Previously known as Video Mode, this new Mode of Use “Theater” is now completely available for all users in Canada, Australia, Singapore, and Colombia, where families can explore a library of engaging videos tailored to support early learning and development.

    A Safe and Educational Alternative to Streaming Platforms

    Lingokids Theater is designed as a safe and controlled environment where young learners can access age-appropriate content created by educators. The feature includes:

    • Animated stories, songs, and puppetry that introduce key early learning concepts in a fun and engaging way.
    • Activity-based videos such as drawing, dance, yoga, and interactive storytelling that encourage creativity and self-expression.
    • Educational video series developed to reinforce cognitive, social, and emotional skills.

    Unlike traditional streaming platforms, Lingokids Theater ensures a 100% ad-free experience, prioritizing a safe and educational space that aligns with parents’ expectations for quality screen time.

    “Our goal is to offer families a dedicated space where children can enjoy enriching, educational content in a safe and engaging way,” said Rhona Anne Dick, Education & Child Development Lead at Lingokids. “Theater is designed to complement our Playlearning™ approach, giving young learners access to a variety of carefully selected videos that entertain while reinforcing important skills.”

    Currently, Theater is available only in these selected test markets within the Lingokids app. Further updates regarding its availability in other regions will be announced in the future.

    About Lingokids

    Lingokids is an innovative educational platform committed to reimagining early learning. By integrating traditional education with essential life skills, Lingokids’ Playlearning™ approach places children at the heart of an expansive educational ecosystem. Through +2,000 interactive activities across various media formats, the app empowers children to navigate topics such as engineering, empathy, literacy, and resilience. Lingokids is dedicated to preparing children for a well-rounded future that balances academic excellence with personal growth.

    For more information about Lingokids and its educational offerings, visit www.lingokids.com and follow us on social media @Lingokids.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d336fb6b-8c74-4e04-a691-31e7b2c5019a

    The MIL Network

  • MIL-OSI Russia: Financial News: BRICS Financial Track: First Meeting in 2025 Held

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Deputy central bank governors and finance ministers of the BRICS countries in Cape Town, South Africa, identified key areas of cooperation. The meeting was hosted by Brazil, which holds the presidency of the group this year.

    The agenda also included priorities that were previously set during the Russian presidency. In particular, the meeting participants confirmed their readiness to discuss the most pressing issues on the payment agenda: the possibilities of using national currencies in settlements, prospects for ensuring the interoperability of the financial markets of the BRICS countries, as well as cooperation in the field of information security. The central banks of the association’s countries in 2025 will also focus on issues of transitional financing and the development of financial technologies.

    The results of the meeting set the vector for further work of the relevant departments of the BRICS countries, and will also be taken into account during the upcoming summit of the association.

    The meeting took place at the Group of Twenty (G20) with the participation of representatives from all countries of the association: Brazil, Russia, India, China, South Africa, Egypt, Iran, the UAE, Saudi Arabia, Ethiopia, as well as the new BRICS member, Indonesia.

    Preview photo: hxdbzxy / Shutterstock / Fotodom

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23415

    MIL OSI Russia News

  • MIL-OSI USA: Milky Way on the Horizon

    Source: NASA

    NASA astronaut Don Pettit used a camera with low light and long duration settings to capture this Jan. 29, 2025, image of the Milky Way appearing beyond Earth’s horizon. At the time, the International Space Station was orbiting 265 miles above the Pacific Ocean off the coast of Chile just before sunrise.
    Pettit is part of the Expedition 72 crew, along with NASA astronauts Suni Williams, Butch Wilmore, and Nick Hague. The orbital residents are exploring a variety of space phenomena to benefit humans on and off the Earth including pharmaceutical manufacturing, advanced life support systems, genetic sequencing in microgravity, and more.
    Read the Space Station blog to follow their activities.
    Image credit: NASA/Don Pettit

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Flower Show to adorn Victoria Park with theme flower cosmos from March 14 (with photos)

    Source: Hong Kong Government special administrative region

    Flower Show to adorn Victoria Park with theme flower cosmos from March 14 (with photos)
    Flower Show to adorn Victoria Park with theme flower cosmos from March 14 (with photos)
    ***************************************************************************************

         This year’s Hong Kong Flower Show (HKFS) will be held at Victoria Park for 10 days from March 14 to 23, running from 9am to 9pm daily, featuring the richly coloured cosmos as its theme flower and “Ablaze with Glory” as the theme. With veil-thin petals that flutter in a light breeze, cosmos exudes a gentle and charming vibe. Symbolising tenacity and bliss, the blooming flowers of vigorous cosmos will bring exuberance and vitality to the show.      Native to Mexico, cosmos is an annual herbaceous member of the Asteraceae family. Through years of natural propagation and artificial hybridisation, cosmos has produced many variants and cultivars, including distinctive ones with curled or ligulate florets and double-petal flower heads. Cosmos is highly adaptable to various climates and soils and can even thrive in poor soil conditions.      Cosmos has large and beautiful flowers. The flowering period is as long as several months. The flowers come in an array of vibrant colours, ranging from pure floral colours such as lavender, fuchsia, magenta, pink and white to special species with colours in two-tone, picotee, stripes and inner halo.      The colourful and vigorous cosmos, with its long-lasting flowering period, is easy to cultivate and maintain. It is therefore a desirable material used in roadside planting, decorating flowerbeds and flower arrangements. Apart from being adornments, cosmos has culinary and medicinal uses. The entire plant can be used in traditional Chinese medicine to clear heat and toxins, while its tender shoots and leaves are served as delicacies across Southeast Asia.      In addition to this year’s theme flower and other flowering plants, the event will showcase a large collection of exquisite potted plants, beautiful floral arrangements and well-crafted landscape displays by local, Mainland and overseas organisations. There will also be commercial stalls selling flowers and horticultural products. A wide variety of educational and recreational fringe activities will also be provided for the enjoyment of visitors of all ages.      For more details about the HKFS and its admission fee arrangements, please visit the webpage at www.hkflowershow.hk/en/hkfs/2025/index.html or call 2601 8260 for enquiries.      The HKFS is organised by the Leisure and Cultural Services Department. The Hong Kong Jockey Club Charities Trust is supporting the flower show for the 13th consecutive year and has been its major sponsor since 2014.

     
    Ends/Thursday, February 27, 2025Issued at HKT 17:15

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Africa: South Africa’s malnutrition crisis: why a cheaper basket of healthy food is the answer

    Source: The Conversation – Africa – By Julian May, Director DST-NRF Centre of Excellence in Food Security, University of the Western Cape

    The death in early February of a 9-year-old South African boy, Alti Willard, who drank poison while scavenging for food in rubbish bins with his father, is a tragic reflection of the persistent food insecurity crisis in the country.

    A child dying while trying to avert starvation is hard to comprehend, given the country’s economic and natural resources. South African has the capability to feed the entire nation. But it is grappling with a triple burden of malnutrition, comprising under-nutrition and hunger, micronutrient deficiencies, and unhealthy diets.

    According to the most recent Food and Nutrition Security Survey, conducted by the Human Sciences Research Council (HSRC), food insecurity affects 63.5% of households in the country – 17.5% of them severely. Food insecurity is not just a matter of inadequate access to food. It is deeply intertwined with child malnutrition, meaning that food security is not just about having enough food; it’s about having nourishing food for children.

    The link between household food insecurity and child malnutrition is stark. Among households with at least one child under the age of five suffering from stunting, food insecurity rates reach 83.3%.

    Alarmingly, 1,000 children die each year due to preventable acute malnutrition. And 2.7 million children under six live in households where poverty levels prevent their basic nutritional needs from being met. Food poverty rates have worsened since the COVID-19 pandemic. Food inflation has exacerbated the crisis.

    The survey indicates that 28.8% of children under the age of five suffer from stunting, an indicator of chronic undernutrition. It means children are below the height expected for their age.


    Read more: South Africa’s hunger problem is turning into a major health crisis


    The South African Early Childhood Review 2024 reinforces these findings. This is an annual review of child development produced by the Children’s Institute at the University of Cape Town and Ilifa Labantwana, an early childhood development NGO. It highlights a rise in child malnutrition, particularly severe acute malnutrition. Between 2020 and 2023, these cases increased by 33%, with 15,000 children requiring hospitalisation in 2022/23 alone.

    Based on our extensive research experience, policy advice and activism in food security, we argue that food insecurity transcends mere food supply issues. It is deeply intertwined with systemic inequality, food system dynamics, poverty and failures in policy.

    Tackling these crises will need a profound change in the approach to food and nutrition security. It requires a shift from temporary relief measures such as the social relief of distress grant to sustainable, structural solutions that lower the cost of a healthy food basket. That would mean no child would have to search for sustenance in refuse bins.

    Any solution so far?

    South Africa has the highest number of people who relay on social grants. Some of these are aimed at addressing food insecurity and nutrition, particularly among children. Despite these safety nets, food insecurity persists, suggesting that they are either inadequately resourced or poorly targeted.

    The grants include:

    • Social grants: About 58% of children aged 14 and younger receive social grants, primarily through the child support grant. However, the youngest children, especially infants, are most likely to be excluded from the grant due to delays in registering infants after birth.

    Read more: Poor South African households can’t afford nutritious food – what can be done


    Enrolling eligible infants from birth requires better coordination between government departments. However, due to the size of the grant relative to the cost of ensuring child nutrition, and competing demands on the grant from other household needs such as housing and clothing, the grants are not enough to alleviate food insecurity.

    Volunteers from the charity Hunger Has No Religion prepare hotdogs for hungry people in Coronationville, Johannesburg. Luca Sola/AFP via Getty Images.
    • School and early childhood development feeding programmes: The National School Nutrition Programme reaches over 9 million children annually. Evidence suggests that children in these programmes have better nutritional outcomes than those who are not.

    • Community and NGO initiatives: While home, school and community gardens, community kitchens and NGO-driven food relief programmes provide support, they lack sustainability and reach.

    What needs to be done?

    The HSRC and South Africa Early Childhood Review 2024 highlight the urgent need for comprehensive, multi-sectoral solutions:


    Read more: 47% of South Africans rely on social grants – study reveals how they use them to generate more income


    • Increase the value of the child support grant, currently R530 (US$28 a month, to align with the cost of a thrifty healthy basket of R945 (US$51).

    • Ensure infants and young children are enrolled in the child support grant from birth through better collaboration between the departments of health, home affairs and social development. The recent reduction in the visa backlog shows what can be achieved.

    • Establish the national multi-sectoral food security coordination body proposed in the National Food and Nutrition Security Plan to streamline policies across different government departments. Brazil followed a similar approach with success.

    • Expand early childhood development nutrition programmes, register informal early childhood development centres, and increase subsidies to improve food provision in these centres.

    • Address gender inequalities in food security by ensuring better economic opportunities for women engaged in food trade, including street vending, who are more likely to be heads of household.

    • Expand community-based health services, using community health workers to monitor child growth and nutrition at the household level.

    • Address neglected dimensions of food insecurity.


    Read more: Africa’s worsening food crisis – it’s time for an agricultural revolution


    For example, poverty negatively affects caregivers’ mental health, which in turn affects child nutrition. Caregivers experiencing food insecurity have higher levels of depression and hopelessness. This potentially affects their capacity to provide the care and attention that children require. Expanding income support and community health services to caregivers can mitigate this cycle.

    Disabled children and caregivers are another example. They face additional challenges and must be specifically targeted for tailored support.

    Finally, children of seasonal farmworkers are highly vulnerable when their caregivers are without employment and not receiving unemployment insurance fund payments. Immediate food relief can prevent fluctuations in the quality and quantity of their diets.

    – South Africa’s malnutrition crisis: why a cheaper basket of healthy food is the answer
    – https://theconversation.com/south-africas-malnutrition-crisis-why-a-cheaper-basket-of-healthy-food-is-the-answer-250308

    MIL OSI Africa

  • MIL-OSI Global: South Africa’s malnutrition crisis: why a cheaper basket of healthy food is the answer

    Source: The Conversation – Africa – By Julian May, Director DST-NRF Centre of Excellence in Food Security, University of the Western Cape

    The death in early February of a 9-year-old South African boy, Alti Willard, who drank poison while scavenging for food in rubbish bins with his father, is a tragic reflection of the persistent food insecurity crisis in the country.

    A child dying while trying to avert starvation is hard to comprehend, given the country’s economic and natural resources. South African has the capability to feed the entire nation. But it is grappling with a triple burden of malnutrition, comprising under-nutrition and hunger, micronutrient deficiencies, and unhealthy diets.

    According to the most recent Food and Nutrition Security Survey, conducted by the Human Sciences Research Council (HSRC), food insecurity affects 63.5% of households in the country – 17.5% of them severely. Food insecurity is not just a matter of inadequate access to food. It is deeply intertwined with child malnutrition, meaning that food security is not just about having enough food; it’s about having nourishing food for children.

    The link between household food insecurity and child malnutrition is stark. Among households with at least one child under the age of five suffering from stunting, food insecurity rates reach 83.3%.

    Alarmingly, 1,000 children die each year due to preventable acute malnutrition. And 2.7 million children under six live in households where poverty levels prevent their basic nutritional needs from being met. Food poverty rates have worsened since the COVID-19 pandemic. Food inflation has exacerbated the crisis.

    The survey indicates that 28.8% of children under the age of five suffer from stunting, an indicator of chronic undernutrition. It means children are below the height expected for their age.




    Read more:
    South Africa’s hunger problem is turning into a major health crisis


    The South African Early Childhood Review 2024 reinforces these findings. This is an annual review of child development produced by the Children’s Institute at the University of Cape Town and Ilifa Labantwana, an early childhood development NGO. It highlights a rise in child malnutrition, particularly severe acute malnutrition. Between 2020 and 2023, these cases increased by 33%, with 15,000 children requiring hospitalisation in 2022/23 alone.

    Based on our extensive research experience, policy advice and activism in food security, we argue that food insecurity transcends mere food supply issues. It is deeply intertwined with systemic inequality, food system dynamics, poverty and failures in policy.

    Tackling these crises will need a profound change in the approach to food and nutrition security. It requires a shift from temporary relief measures such as the social relief of distress grant to sustainable, structural solutions that lower the cost of a healthy food basket. That would mean no child would have to search for sustenance in refuse bins.

    Any solution so far?

    South Africa has the highest number of people who relay on social grants. Some of these are aimed at addressing food insecurity and nutrition, particularly among children. Despite these safety nets, food insecurity persists, suggesting that they are either inadequately resourced or poorly targeted.

    The grants include:

    • Social grants: About 58% of children aged 14 and younger receive social grants, primarily through the child support grant. However, the youngest children, especially infants, are most likely to be excluded from the grant due to delays in registering infants after birth.



    Read more:
    Poor South African households can’t afford nutritious food – what can be done


    Enrolling eligible infants from birth requires better coordination between government departments. However, due to the size of the grant relative to the cost of ensuring child nutrition, and competing demands on the grant from other household needs such as housing and clothing, the grants are not enough to alleviate food insecurity.

    • School and early childhood development feeding programmes: The National School Nutrition Programme reaches over 9 million children annually. Evidence suggests that children in these programmes have better nutritional outcomes than those who are not.

    • Community and NGO initiatives: While home, school and community gardens, community kitchens and NGO-driven food relief programmes provide support, they lack sustainability and reach.

    What needs to be done?

    The HSRC and South Africa Early Childhood Review 2024 highlight the urgent need for comprehensive, multi-sectoral solutions:




    Read more:
    47% of South Africans rely on social grants – study reveals how they use them to generate more income


    • Increase the value of the child support grant, currently R530 (US$28 a month, to align with the cost of a thrifty healthy basket of R945 (US$51).

    • Ensure infants and young children are enrolled in the child support grant from birth through better collaboration between the departments of health, home affairs and social development. The recent reduction in the visa backlog shows what can be achieved.

    • Establish the national multi-sectoral food security coordination body proposed in the National Food and Nutrition Security Plan to streamline policies across different government departments. Brazil followed a similar approach with success.

    • Expand early childhood development nutrition programmes, register informal early childhood development centres, and increase subsidies to improve food provision in these centres.

    • Address gender inequalities in food security by ensuring better economic opportunities for women engaged in food trade, including street vending, who are more likely to be heads of household.

    • Expand community-based health services, using community health workers to monitor child growth and nutrition at the household level.

    • Address neglected dimensions of food insecurity.




    Read more:
    Africa’s worsening food crisis – it’s time for an agricultural revolution


    For example, poverty negatively affects caregivers’ mental health, which in turn affects child nutrition. Caregivers experiencing food insecurity have higher levels of depression and hopelessness. This potentially affects their capacity to provide the care and attention that children require. Expanding income support and community health services to caregivers can mitigate this cycle.

    Disabled children and caregivers are another example. They face additional challenges and must be specifically targeted for tailored support.

    Finally, children of seasonal farmworkers are highly vulnerable when their caregivers are without employment and not receiving unemployment insurance fund payments. Immediate food relief can prevent fluctuations in the quality and quantity of their diets.

    Julian May receives funding from the National Research Foundation and the German Academic Exchange Service (DAAD). He is a National Planning Commissioner (NPC) and serves on the Council of the Academy of Science of South Africa (ASSAf). He was chair of the Technical Advisory Committee of the Food and Nutrition Security Survey and the NPC lead on the Early Childhood Review, 2024.

    Thokozani Simelane received funding from the Department of Agriculture. This was for the National Food and Nutrition Security Survey on which the article is partially based. He was the principal investigator of the National Food and Nutrition Security Survey. He is a member of the Council on Higher Education (CHE) Community of Practice that is developing the research and innovation standard for higher education institutions in South Africa.

    ref. South Africa’s malnutrition crisis: why a cheaper basket of healthy food is the answer – https://theconversation.com/south-africas-malnutrition-crisis-why-a-cheaper-basket-of-healthy-food-is-the-answer-250308

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: Flower show to feature cosmos

    Source: Hong Kong Information Services

    The Hong Kong Flower Show, themed “Ablaze with Glory”, will be held at Victoria Park from March 14 to 23 at 9am to 9pm daily, with cosmos as the theme flower.

    Native to Mexico, cosmos are an annual herbaceous member of the Asteraceae family. Through years of natural propagation and artificial hybridisation, the flower has produced many variants and cultivars.

    Cosmos are highly adaptable to various climates and soils, and can even thrive in poor soil conditions. With beautiful, large flowers and a long-lasting flowering period, they are a desirable material for roadside planting, flowerbeds and flower arrangements. Apart from being adornments, cosmos also have culinary and medicinal uses.

    In addition to this year’s theme flower and other flowering plants, the flower show will showcase a large collection of potted plants, floral arrangements and landscape displays by local, Mainland and overseas organisations. There will also be stalls selling flowers and horticultural products as well as recreational fringe activities for the enjoyment of visitors of all ages.

    MIL OSI Asia Pacific News

  • MIL-OSI: Golar LNG Limited Preliminary fourth quarter and financial year 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Highlights and subsequent events

    • Golar LNG Limited (“Golar” or “the Company”) reports Q4 2024 net income attributable to Golar of $3 million inclusive of $29 million of non-cash items1, and Adjusted EBITDA1 of $59 million.
    • Full year 2024 net income attributable to Golar of $50 million inclusive of $131 million of non-cash items1, and Adjusted EBITDA1 of $241 million.
    • Total Golar Cash1 of $699 million.
    • Acquired all remaining minority interests in FLNG Hilli.
    • FLNG Hilli maintained market-leading operational track record and exceeded 2024 production target.
    • Pampa Energia S.A., Harbour Energy plc and YPF joined Southern Energy S.A. (“SESA”), creating a consortium of leading Argentinian gas producers planning to use FLNG Hilli under definitive agreements announced in July 2024.
    • FLNG Gimi commissioning commenced and first LNG produced, after receiving first gas from the GTA field.
    • MKII FLNG conversion project on schedule (9% complete) and Fuji LNG arrived at the shipyard for conversion works.
    • Sold shareholding in Avenir LNG Limited (“Avenir”) for net proceeds of $39 million.
    • Completed exit from LNG shipping with sale of the LNG carrier, Golar Arctic for $24 million.
    • Declared dividend of $0.25 per share for the quarter.

    FLNG Hilli: Maintained her market leading operational track record and exceeded her contracted 2024 production volume resulting in the recognition of $0.5 million of 2024 over production accrued revenue. Q4 2024 Distributable Adjusted EBITDA1 was $68 million excluding overproduction revenue. FLNG Hilli has offloaded 128 cargoes to date.

    In December 2024, Golar acquired all remaining third party minority ownership interests in FLNG Hilli for $60 million in cash and a $30 million increase in Golar’s share of contractual debt. The acquisitions included a total of 5.45% common units, 10.9% Series A shares and 10.9% Series B shares. The transaction was equivalent to ~8% of the full FLNG capacity. Following this, Golar has a 100% economic interest in FLNG Hilli.

    The acquisition is immediately accretive to Golar’s cash flow. Annual Adjusted EBITDA1 from the base tolling fee is expected to increase by approximately $7 million. The Brent oil linked commodity element of the current FLNG Hilli charter will increase from $2.7 million to $3.1 million in annual Adjusted EBITDA1 attributable to Golar per dollar for Brent oil prices between $60/bbl and the contractual ceiling. The TTF linked component of the current tariff will similarly increase annual Adjusted EBITDA1 generation attributable to Golar from $3.2 million to $3.7 million per $/MMBtu of European TTF gas prices above a floor price that delivers a base annual TTF fee of $5 million. The acquisition of the minority ownership interests is also accretive to Golar’s Adjusted EBITDA backlog1, with an ~8% shareholding of the 20-year charter in Argentina starting in 2027* increasing the backlog by approximately $0.5 billion, before commodity exposure.

    Golar expects to release significant capital from a contemplated refinancing of FLNG Hilli following completion of the conditions precedent in the SESA 20-year charter.

    FLNG Gimi: Following the commercial reset with bp announced in August 2024, accelerated commissioning commenced in October 2024 using gas from a LNG carrier. In January 2025, gas from the carrier was replaced by feedgas from the bp operated FPSO which allowed full commissioning to commence. This milestone triggered the final upward adjustment to the Commissioning Rate under the commercial reset. LNG is now being produced, and subject to receipt of sufficient feed gas, the first LNG export cargo is expected within Q1 2025. Assuming all conditions are met, the Commercial Operations Date (“COD”) is expected within Q2 2025. COD will trigger the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog1 (Golar’s share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

    A debt facility to refinance FLNG Gimi is in an advanced stage, with credit approvals now received. The transaction is subject to customary closing conditions and third party stakeholder approvals.

    MKII FLNG 3.5MTPA conversion: Conversion work on the $2.2 billion MK II FLNG (“MK II”) is proceeding to schedule. After discharging her final cargo as an LNG carrier in January 2025, the conversion vessel Fuji LNG entered CIMC’s Yantai yard in February 2025. Golar has spent $0.6 billion to date, all of which is equity funded. The MK II is expected to be delivered in Q4 2027 and be the first available FLNG capacity globally.

    As part of the EPC agreement, Golar also has an option for a second MK II conversion slot at CIMC for delivery within 2028.

    FLNG business development: In July 2024, Golar announced that it had entered into definitive agreements for the deployment of an FLNG in Argentina. In October 2024, Golar received a notice reserving FLNG Hilli for the 20-year charter. During November 2024, Pampa Energia joined the SESA project with a 20% equity stake, in December 2024 Harbour Energy joined with a 15% equity stake and in February 2025 YPF joined with a 15% equity stake. Pan American Energy (“PAE”) remains with a 40% equity stake and Golar with its 10% equity stake. SESA will be responsible for sourcing Argentine natural gas to the FLNG, chartering and operating FLNG Hilli and marketing and selling LNG globally. The addition of leading natural gas and oil producers in Argentina further strengthens both the project and Golar’s charter counterparty.

    Following the end of FLNG Hilli’s current charter in July 2026 offshore Cameroon, FLNG Hilli will undergo vessel upgrades to maintain 20-years of continuous operations offshore. Operations in Argentina are expected to commence in 2027. FLNG Hilli is expected to generate an annual Adjusted EBITDA1 of approximately $300 million, plus a commodity linked element in the FLNG tariff and commodity exposure through Golar’s 10% equity stake in SESA.

    The project remains subject to defined conditions precedent (“CP”), including an export license, environmental assessment and Final Investment Decision (“FID”) by SESA. Workstreams for each CP are advancing according to schedule and are expected to be concluded within Q2 2025.

    Golar’s position as the only proven service provider of FLNG globally, our market leading capex/ton and operational uptime continues to drive interest in our FLNG solutions. The MKII under construction is now the focus of multiple commercial discussions. Advanced discussions are taking place in the Americas, West Africa, Southeast Asia and the Middle East. Once a charter is secured for the MKII under construction, we aim to FID our 4th FLNG unit. In addition to the option for a second MKII at CIMC Raffles shipyard, we are now in discussions with other capable shipyards for this potential 4th unit, focused on design, liquefaction capacity, capex/ton and delivery.

    Other/shipping: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG. The non-core shipping segment was comprised of the LNGC Golar Arctic, and Fuji LNG. During February 2025, Fuji LNG entered CIMC’s yard for her FLNG conversion and Golar Arctic was sold for $24 million. This concludes Golar’s 50-year presence in the LNG shipping business.  

    In January 2025, Golar also agreed to sell its non-core 23.4% interest in Avenir. The transaction closed in February 2025 upon receipt of $39 million of net proceeds.

    Shares and dividends: As of December 31, 2024, 104.5 million shares are issued and outstanding. Golar’s Board of Directors approved a total Q4 2024 dividend of $0.25 per share to be paid on or around March 18, 2025. The record date will be March 11, 2025.

    Financial Summary

    (in thousands of $) Q4 2024 Q4 2023 % Change YTD 2024 YTD 2023 % Change
    Net income/(loss) attributable to Golar LNG Ltd 3,349 (32,847) (110)% 49,694 (46,793) (206)%
    Total operating revenues 65,917 79,679 (17)% 260,372 298,429 (13)%
    Adjusted EBITDA 1 59,168 114,249 (48)% 240,500 355,771 (32)%
    Golar’s share of contractual debt 1 1,515,357 1,221,190 24% 1,515,357 1,221,190 24%

    Financial Review

    Business Performance:

      2024 2023
      Oct-Dec Jul-Sep Oct-Dec
    (in thousands of $) Total Total Total
    Net income/(loss)        15,037      (35,969)      (31,071)
    Income taxes            (504)              208              332
    Income/(loss) before income taxes        14,533      (35,761)      (30,739)
    Depreciation and amortization        13,642        13,628        12,794
    Impairment of long-term assets        22,933                —                —
    Unrealized loss on oil and gas derivative instruments        14,269        73,691      126,909
    Other non-operating loss          7,000                —                —
    Interest income        (9,866)        (8,902)      (11,234)
    Interest expense, net                —                —        (1,107)
    (Gains)/losses on derivative instruments        (8,711)        14,955        16,542
    Other financial items, net          1,153              470            (157)
    Net income from equity method investments          4,215              948          1,241
    Adjusted EBITDA (1)        59,168        59,029      114,249
      2024
      Oct-Dec Jul-Sep
    (in thousands of $) FLNG Corporate and other Shipping Total FLNG Corporate and other Shipping Total
    Total operating revenues      56,396         6,025         3,496      65,917      56,075         6,212         2,520      64,807
    Vessel operating expenses     (19,788)       (5,048)       (3,073)     (27,909)     (20,947)       (7,403)       (3,373)     (31,723)
    Voyage, charterhire & commission expenses              —              —          (446)          (446)              —              —          (888)          (888)
    Administrative expenses          (264)       (7,240)               (1)       (7,505)          (568)       (6,498)               (7)       (7,073)
    Project expenses       (3,624)       (1,236)              —       (4,860)       (1,249)       (1,894)              —       (3,143)
    Realized gains on oil derivative instrument (2)      33,502              —              —      33,502      37,049              —              —      37,049
    Other operating income            469              —              —            469              —              —              —              —
    Adjusted EBITDA (1)      66,691       (7,499)            (24)      59,168      70,360       (9,583)       (1,748)      59,029

    (2) The line item “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (“LTA”) and the natural gas derivative which is split into: “Realized gains on oil and gas derivative instruments” and “Unrealized (loss)/gain on oil and gas derivative instruments”.

      2023
      Oct-Dec
    (in thousands of $) FLNG Corporate and other Shipping Total
    Total operating revenues        72,433          5,510          1,736        79,679
    Vessel operating expenses      (16,510)        (4,765)        (2,005)      (23,280)
    Voyage, charterhire & commission (expenses)/income            (133)                —            (900)        (1,033)
    Administrative income/(expenses)                29        (7,031)                (1)        (7,003)
    Project development expenses            (958)              380              (99)            (677)
    Realized gains on oil derivative instrument        53,520                —                —        53,520
    Other operating income        13,043                —                —        13,043
    Adjusted EBITDA (1)      121,424        (5,906)        (1,269)      114,249

    Golar reports today Q4 2024 net income of $3 million, before non-controlling interests, inclusive of $29 million of non-cash items1, comprised of:

    • A $23 million impairment of LNG carrier, Golar Arctic;
    • TTF and Brent oil unrealized mark-to-market (“MTM”) losses of $14 million; and
    • A $8 million MTM gain on interest rate swaps.

    The Brent oil linked component of FLNG Hilli’s fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q4, we recognized a total of $34 million of realized gains on FLNG Hilli’s oil and gas derivative instruments, comprised of a: 

    • $14 million realized gain on the Brent oil linked derivative instrument;
    • $12 million realized gain on the hedged component of the quarter’s TTF linked fees; and
    • $8 million realized gain in respect of fees for the TTF linked production.

    Further, we recognized a total of $14 million of non-cash losses in relation to FLNG Hilli’s oil and gas derivative assets, with corresponding changes in fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:

    • $12 million loss on the economically hedged portion of the Q4 TTF linked FLNG production; and 
    • $2 million loss on the Brent oil linked derivative asset.

    Balance Sheet and Liquidity:

    As of December 31, 2024, Total Golar Cash1 was $699 million, comprised of $566 million of cash and cash equivalents and $133 million of restricted cash. 

    Golar’s share of Contractual Debt1 as of December 31, 2024 is $1,515 million. Deducting Total Golar Cash1 of $699 million from Golar’s share of Contractual Debt1 leaves a debt position net of Total Golar Cash of $816 million. 

    Assets under development amounts to $2.2 billion, comprised of $1.7 billion in respect of FLNG Gimi and $0.5 billion in respect of the MKII. The carrying value of LNG carrier Fuji LNG, currently included under Vessels and equipment, net will be transferred to Assets under development in Q1, 2025.

    Following agreement by the consortium of lenders who provide the current $700 million FLNG Gimi facility, Golar drew down the final $70 million tranche of this facility in November 2024. Of the $1.7 billion FLNG Gimi investment as of December 31, 2024, inclusive of $297 million of capitalized financing costs, $700 million was funded by the current debt facility. Both the FLNG Gimi investment and outstanding Gimi debt are reported on a 100% basis. All capital expenditure in connection with the 100% owned MK II is equity funded. 

    Non-GAAP measures

    In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.

    This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golar’s unaudited consolidated financial statements.

    These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at December 31, 2024 and for the year ended December 31, 2024, from these results should be carefully evaluated.

    Non-GAAP measure Closest equivalent US GAAP measure Adjustments to reconcile to primary financial statements prepared under US GAAP Rationale for adjustments
    Performance measures
    Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items and discontinued operations.
    Distributable Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    – Amortization of deferred commissioning period revenue
    – Amortization of Day 1 gains
    – Accrued overproduction revenue
    + Overproduction revenue received
    – Accrued underutilization adjustment
    Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
    Liquidity measures
    Contractual debt 1 Total debt (current and non-current), net of deferred finance charges  +/-Variable Interest Entity (“VIE”) consolidation adjustments
    +/-Deferred finance charges
    During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.

    Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.

    The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.

    Adjusted net debt Adjusted net debt based on
    GAAP measures:
    -Total debt (current and
    non-current), net of
    deferred finance
    charges
    – Cash and cash
    equivalents
    – Restricted cash and
    short-term deposits
    (current and non-current)
    – Other current assets (Receivable from TTF linked commodity swap derivatives)
    Total debt (current and non-current), net of:
    +Deferred finance charges
    +Cash and cash equivalents
    +Restricted cash and short-term deposits (current and non-current)
    +/-VIE consolidation adjustments
    +Receivable from TTF linked commodity swap derivatives
    The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
    Total Golar Cash Golar cash based on GAAP measures:

    + Cash and cash equivalents

    + Restricted cash and short-term deposits (current and non-current)

    -VIE restricted cash and short-term deposits We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.

    Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.

    Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.

    (1) Please refer to reconciliation below for Golar’s share of Contractual Debt

    Adjusted EBITDA backlog: This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.

    Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, mark-to-market (“MTM”) movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (“IRS”) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.

    Abbreviations used:

    FLNG: Floating Liquefaction Natural Gas vessel
    FSRU: Floating Storage and Regasification Unit
    MKII FLNG: Mark II FLNG
    FPSO: Floating Production, Storage and Offloading unit

    MMBtu: Million British Thermal Units
    mtpa: Million Tons Per Annum

    Reconciliations – Liquidity Measures

    Total Golar Cash

    (in thousands of $) December 31, 2024 September 30, 2024 December 31, 2023
    Cash and cash equivalents           566,384           732,062           679,225
    Restricted cash and short-term deposits (current and non-current)           150,198             92,025             92,245
    Less: VIE restricted cash and short-term deposits            (17,472)            (17,463)            (18,085)
    Total Golar Cash           699,110           806,624           753,385

    Contractual Debt and Adjusted Net Debt

    (in thousands of $) December 31, 2024 September 30, 2024 December 31, 2023
    Total debt (current and non-current) net of deferred finance charges        1,451,110        1,422,399        1,216,730
    VIE consolidation adjustments           242,811           233,964           202,219
    Deferred finance charges             22,686             24,480             23,851
    Total Contractual Debt        1,716,607        1,680,843        1,442,800
    Less: Keppel’s and B&V’s share of the FLNG Hilli contractual debt                     —            (30,884)            (32,610)
    Less: Keppel’s share of the Gimi debt         (201,250)         (184,625)         (189,000)
    Golar’s share of Contractual Debt        1,515,357        1,465,334        1,221,190
    Less: Total Golar Cash         (699,110)         (806,625)         (753,385)
    Less: Receivables from the remaining unwinding of TTF hedges                     —            (12,360)            (57,020)
    Golar’s Adjusted Net Debt           816,247           646,349           410,785

    Please see Appendix A for a capital repayment profile for Golar’s contractual debt.

    Forward Looking Statements

    This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “if,” “subject to,” “believe,” “assuming,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “could,” “would,” “predict,” “propose,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Other important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to:

    • our ability and that of our counterparty to meet our respective obligations under the 20-year lease and operate agreement (the “LOA”) with BP Mauritania Investments Limited, a subsidiary of BP p.l.c (“bp”), entered into in connection with the Greater Tortue Ahmeyim Project (the “GTA Project”), including the commissioning and start-up of various project infrastructure. Delays could result in incremental costs to both parties to the LOA, delay floating liquefaction natural gas vessel (“FLNG”) commissioning works and the start of operations for our FLNG Gimi (“FLNG Gimi”);
    • our ability to meet our obligations under our commercial agreements, including the liquefaction tolling agreement (the “LTA”) entered into in connection with the FLNG Hilli Episeyo (“FLNG Hilli”);
    • our ability to meet our obligations with Southern Energy S.A. SESA in connection with the recently signed agreement on FLNG deployment in Argentina, and SESAs ability to meet its obligations with us;
    • the ability to secure a suitable contract for the MK II within the expected timeframe, including the impact of project capital expenditures, foreign exchange fluctuations, and commodity price volatility on investment returns and potential changes in market conditions affecting deployment opportunities;
    • changes in our ability to obtain additional financing or refinance existing debts on acceptable terms or at all, or to secure a listing for our 2024 Unsecured Bonds;
    • Global economic trends, competition, and geopolitical risks, including U.S. government actions, trade tensions or conflicts such as between the U.S. and China, related sanctions, a potential Russia-Ukraine peace settlement and its potential impact on LNG supply and demand;
    • a material decline or prolonged weakness in tolling rates for FLNGs;
    • failure of shipyards to comply with schedules, performance specifications or agreed prices;
    • failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
    • increased tax liabilities in the jurisdictions where we are currently operating or expect to operate;
    • continuing volatility in the global financial markets, including but not limited to commodity prices, foreign exchange rates and interest rates;
    • changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
    • changes in our ability to retrofit vessels as FLNGs, including the availability of vessels to purchase and in the time it takes to build new vessels or convert existing vessels;
    • continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure (“FM”) under contractual arrangements, including but not limited to our future projects and other contracts to which we are a party;
    • our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining equity method investments on a timely basis or at all;
    • increases in operating costs as a result of inflation, including but not limited to salaries and wages, insurance, crew provisions, repairs and maintenance, spares and redeployment related modification costs;
    • claims made or losses incurred in connection with our continuing obligations with regard to New Fortress Energy Inc. (“NFE”), Energos Infrastructure Holdings Finance LLC (“Energos”), Cool Company Ltd (“CoolCo”) and Snam S.p.A. (“Snam”);
    • the ability of Energos, CoolCo and Snam to meet their respective obligations to us, including indemnification obligations;
    • changes to rules and regulations applicable to FLNGs or other parts of the natural gas and LNG supply chain;
    • changes to rules on climate-related disclosures as required by the European Union or the U.S. Securities and Exchange Commission (the “Commission”), including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
    • actions taken by regulatory authorities that may prohibit the access of FLNGs to various ports and locations; and
    • other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2023, filed with the Commission on March 28, 2024 (the “2023 Annual Report”).

    As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

    Responsibility Statement

    We confirm that, to the best of our knowledge, the unaudited consolidated financial statements for the year ended December 31, 2024, which have been prepared in accordance with accounting principles generally accepted in the United States give a true and fair view of Golar’s unaudited consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the report for the year ended December 31, 2024, includes a fair review of important events that have occurred during the period and their impact on the unaudited consolidated financial statements, the principal risks and uncertainties and major related party transactions.

    Our actual results for the quarter and year ended December 31, 2024 will not be available until after this press release is furnished and may differ from these estimates. The preliminary financial information presented herein should not be considered a substitute for the financial information to be filed with the SEC in our Annual Report on Form 20-F for the year ended December 31, 2024 once it becomes available. Accordingly, you should not place undue reliance upon these preliminary financial results.

    February 27, 2025
    The Board of Directors
    Golar LNG Limited
    Hamilton, Bermuda
    Investor Questions: +44 207 063 7900
    Karl Fredrik Staubo – CEO
    Eduardo Maranhão – CFO

    Stuart Buchanan – Head of Investor Relations

    Tor Olav Trøim (Chairman of the Board)
    Dan Rabun (Director)
    Thorleif Egeli (Director)
    Carl Steen (Director)
    Niels Stolt-Nielsen (Director)
    Lori Wheeler Naess (Director)
    Georgina Sousa (Director)

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network

  • MIL-OSI: Enerflex Ltd. Announces Fourth Quarter 2024 Financial and Operational Results

    Source: GlobeNewswire (MIL-OSI)

    ADJUSTED EBITDA OF $121 MILLION AND FREE CASH FLOW OF $76 MILLION1

    EI CONTRACT BACKLOG AND ES BACKLOG OF $1.5 BILLION AND $1.3 BILLION, RESPECTIVELY, PROVIDING STRONG OPERATIONAL VISIBILITY

    REDUCED BANK ADJUSTED NET DEBT-TO-EBITDA RATIO2TO 1.5X TIMES AT YEAR-END

    CALGARY, Alberta, Feb. 27, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today reported its financial and operational results for the three and twelve months ended December 31, 2024.

    All amounts presented are in U.S. Dollars (“USD”) unless otherwise stated.

    Q4/24 FINANCIAL AND OPERATIONAL OVERVIEW         

    • Generated revenue of $561 million compared to $574 million in Q4/23 and $601 million in Q3/24.
    • Recorded gross margin before depreciation and amortization of $174 million, or 31% of revenue, compared to $158 million, or 28% of revenue in Q4/23 and $176 million, or 29% of revenue during Q3/24.
      • Energy Infrastructure (“EI”) and After-Market Services (“AMS”) product lines generated 67% of consolidated gross margin before depreciation and amortization during Q4/24 and 69% on a full-year basis in 2024.
      • ES gross margin before depreciation and amortization increased to 21% in Q4/24 compared to 15% in Q4/23 and 19% in Q3/24, benefiting from favorable product mix and strong project execution.
    • Adjusted earnings before finance costs, income taxes, depreciation, and amortization (“adjusted EBITDA”) of $121 million compared to $91 million in Q4/23 and $120 million during Q3/24. The year-over-year increase in adjusted EBITDA reflects improved gross margin and favorable foreign exchange rate movements.
    • Cash provided by operating activities was $113 million, which included net working capital recovery of $39 million. This compares to cash provided by operating activities of $158 million in Q4/23 and $98 million in Q3/24. Free cash flow was $76 million in Q4/24 compared to $139 million during Q4/23 and $78 million during Q3/241.
    • Invested $47 million in the business in Q4/24, consisting of $32 million in capital expenditures and $15 million for expansion of an EI project in the Eastern Hemisphere (“EH”) that will be accounted for as a finance lease.
    • Recorded ES bookings of $301 million inclusive of a $75 million derecognition, with no associated gross margin on future revenue, related to the termination of the cryogenic natural gas processing facility project contract in Kurdistan. The majority of bookings originated in the North America segment and relate to gas compression solutions. Total backlog as at December 31, 2024 was $1.3 billion, providing strong visibility into future revenue generation and business activity levels.
    • Enerflex’s USA contract compression business continues to perform well, led by increasing natural gas production in the Permian basin and continued discipline across industry competitors.
      • This business generated revenue of $36 million and gross margin before depreciation and amortization of 78% during Q4/24 compared to $33 million and 76% in Q4/23 and $37 million and 70% during Q3/24.
      • Utilization remained stable at 95% across a fleet size of approximately 428,000 horsepower. Enerflex expects its North American contract compression fleet will grow to over 475,000 horsepower by the end of 2025.
    • The Board of Directors has declared a quarterly dividend of CAD$0.0375 per share, payable on March 24, 2025, to shareholders of record on March 10, 2025.

    BALANCE SHEET AND LIQUIDITY

    • Enerflex exited Q4/24 with net debt of $616 million, which included $92 million of cash and cash equivalents, a reduction of $208 million compared to Q4/23 and $76 million lower than the third quarter.
    • During Q4/24, Enerflex redeemed $62.5 million (or 10% of the aggregate principal amount originally issued) of its 9.00% Senior Secured Notes due 2027. The redemption was completed at a price of 103% of the principal amount of the Notes redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. The redemption was funded with available liquidity, which included cash and cash equivalents and the undrawn portion of Enerflex’s lower cost $800 million revolving credit facility.
    • Enerflex’s bank-adjusted net debt-to-EBITDA ratio was approximately 1.5x at the end of Q4/24, down from 2.3x at the end of Q4/23 and 1.9x at the end of Q3/24. The leverage ratio at the end of Q4/24 is within Enerflex’s target bank-adjusted net debt-to-EBITDA ratio range of 1.5x to 2.0x.
    • The Company maintains strong liquidity with access to $614 million under its credit facility.

    __________________________________________
    1 During the fourth quarter of 2024, the Company modified its calculation of free cash flow. Free cash flow is now defined as cash provided by (used in) operating activities, less total capital expenditures (growth and maintenance) for PP&E and EI assets, mandatory debt repayments, and lease payments, while proceeds on disposals of PP&E and EI assets are added back. Refer to the “Free Cash Flow” section of this press release for further details.
    2 The Company defines bank-adjusted net debt to EBITDA as borrowings under the Revolving Credit Facility (“RCF”) and its 9.00% Senior Secured Notes due 2027 (the “Notes”) less cash and cash equivalents, divided by EBITDA as defined by the Company’s lenders for the trailing 12- months.


    MANAGEMENT COMMENTARY

    “We delivered a strong finish to the year, with solid operating results across Enerflex’s geographies and product lines,” said Marc Rossiter, Enerflex’s President and Chief Executive Officer. “Our Energy Infrastructure and After-Market Services business lines continue to provide steady, reliable performance and revenue streams, reinforcing Enerflex’s ability to deliver sustainable returns across our global platform. Our Engineered Systems business delivered solid performance throughout 2024, highlighted by strong project execution.”

    Rossiter continued, “As we enter 2025, visibility across our business remains solid, underpinned by a $1.5 billion contract backlog for our Energy Infrastructure assets, the recurring nature of our After-Market Services business, and a $1.3 billion Engineered Systems backlog. By focusing on operational execution, optimizing our core business, and maintaining disciplined capital allocation, we expect to further reduce debt and create meaningful long-term value for our shareholders.”

    Preet S. Dhindsa, Enerflex’s Senior Vice President and Chief Financial Officer, stated, “Enerflex delivered fourth-quarter results that exceeded the ranges included in our 2024 guidance. We are particularly pleased with our ongoing progress in efficiently managing working capital, lowering net finance costs, and optimizing the Company’s debt stack. Backed by Enerflex’s strong global leadership team and talented employees, we continue to enhance the profitability and resilience of our operations. Our focus remains on generating sustainable free cash flow, further improving our balance sheet health and positioning the Company for long-term growth and value creation.”

    SUMMARY RESULTS

      Three months ended
    December 31,
    Twelve months ended
    December 31,
    ($ millions, except percentages and ratios)   2024   2023   2024   2023
    Revenue $ 561 $ 574 $ 2,414 $ 2,343
    Gross margin   140   119   504   457
    Gross margin as a percentage of revenue   25.0%   20.7%   20.9%   19.5%
    Selling, general and administrative expenses (“SG&A”)   92   74   327   293
    Foreign exchange (gain) loss   (2)   16   4   43
    Operating income   50   29   173   121
    EBITDA1   92     364   240
    EBIT1   47   (51)   179   42
    EBT1   21   (76)   81   (52)
    Net earnings (loss)   15   (95)   32   (83)
    Cash provided by operating activities   113   158   324   206
                     
    Key Financial Performance Indicators (“KPIs”)2                
    ES bookings3 $ 301 $ 265 $ 1,401 $ 1,306
    ES backlog3   1,280   1,134   1,280   1,134
    EI contract backlog4   1,545   1,700   1,545   1,700
    Gross margin before depreciation and amortization (“Gross margin before D&A”)5   174   158   642   609
    Gross margin before D&A as a percentage of revenue5   31.0%   27.5%   26.6%   26.0%
    Adjusted EBITDA6   121   91   432   378
    Free cash flow7   76   139   222   95
    Net debt   616   824   616   824
    Bank-adjusted net debt to EBITDA ratio   1.5x   2.3x   1.5x   2.3x
    Return on capital employed (“ROCE”)8   10.3%   2.1%   10.3%   2.1%


    1
    EBITDA is defined as earnings before finance costs, income taxes, depreciation and amortization. EBIT is defined as earnings before finance costs and income taxes. EBT is defined as earnings before taxes.
    2These KPIs are non-IFRS measures. Further detail is provided in the “Non-IFRS Measures” section of the fourth quarter 2024 MD&A.
    3Refer to the “ES Bookings and Backlog” section of the MD&A for more information on these KPIs.
    4Refer to the “EI Contract Backlog” section of the MD&A.
    5Refer to the “Gross Margin by Product line” section of the MD&A for further details.
    6Refer to the “Adjusted EBITDA” section of the MD&A for further details.
    7During the fourth quarter of 2024, the Company modified its calculation of free cash flow. Free cash flow is now defined as cash provided by (used in) operating activities, less total capital expenditures (growth and maintenance) for PP&E and EI assets, mandatory debt repayments, and lease payments, while proceeds on disposals of PP&E and EI assets are added back. Refer to the “Free Cash Flow” section of this press release for further details.
    8Determined by using the trailing 12-month period.

    Enerflex’s consolidated financial statements and notes (the “financial statements”) and Management’s Discussion and Analysis (“MD&A”) as at December 31, 2024, can be accessed on the Company’s website at www.enerflex.com and under the Company’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    OUTLOOK        

    During 2025, Enerflex’s priorities include: (1) enhancing the profitability of core operations; (2) leveraging the Company’s leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex’s financial position, provide direct shareholder returns, and invest in selective customer supported growth opportunities.

    Industry Update

    Enerflex’s preliminary outlook for 2025 reflects steady demand across its business lines and geographic regions. Operating results will be underpinned by the highly contracted EI product line and the recurring nature of AMS, which together are expected to account for approximately 65% of our gross margin before depreciation and amortization. Enerflex’s EI product line is supported by customer contracts, which are expected to generate approximately $1.5 billion of revenue during their current terms.

    Complementing Enerflex’s recurring revenue businesses is the ES product line, which carried a backlog of approximately $1.3 billion as at December 31, 2024, the majority of which is expected to convert into revenue over the next 12 months. During 2025, ES gross margin before depreciation and amortization is expected to be more consistent with the historical long-term average for this business line, reflective of the weakness in domestic natural gas prices during much of 2024 and a shift of project mix in Enerflex’s ES backlog. Notwithstanding, near-term revenue for this business line is expected to remain steady. Enerflex is encouraged by initial customer response to improved domestic natural gas prices, and the medium-term outlook for ES products and services continues to be attractive, driven by expected increases in natural gas and produced water volumes across Enerflex’s global footprint.

    The Company continues to closely monitor geopolitical tensions across North America, including the potential application of tariffs. Based on currently available information, the direct impact of tariffs on Enerflex’s business is expected to be mitigated by the Company’s diversified operations and proactive risk management. Enerflex’s operations in the USA, Canada and Mexico are largely distinct in the customers and projects they serve, and the Company has been working to mitigate the impact of potential tariffs. The United States is Enerflex’s largest operating region, generating 45% of consolidated revenue in 2024 by destination of sale, and we believe the Company is well positioned to benefit from growth in domestic energy production. Enerflex’s operations in Canada and Mexico generated 10% and 3% of consolidated revenue in 2024, respectively.

    Capital Spending

    Enerflex is targeting a disciplined capital program in 2025, with total capital expenditures of $110 million to $130 million. This includes a total of approximately $70 million for maintenance and PP&E capital expenditures. Similar to 2024, disciplined capital spending will focus on customer supported opportunities in the USA and Middle East. Notably, the fundamentals for contract compression in the USA remain strong, led by expected increases in natural gas production in the Permian basin and capital spending discipline from market participants. Enerflex will continue to make selective customer supported growth investments in this business.

    Capital Allocation

    Providing meaningful direct shareholder returns is a priority for Enerflex. With the Company operating within its target leverage range of bank-adjusted net debt-to-EBITDA ratio of 1.5x to 2.0x, Enerflex is positioned to increase direct shareholder returns. This is reflected through the previously announced 50% increase of the Company’s quarterly dividend.

    Going forward, capital allocation decisions will be based on delivering value to Enerflex shareholders and measured against Enerflex’s ability to maintain balance sheet strength. In addition to increases to the Company’s dividend, share repurchases, and disciplined growth capital spending, Enerflex will also consider reducing leverage below its target range to further improve balance sheet strength and lower net finance costs. Unlocking greater financial flexibility positions the Company to capitalize on opportunities to optimize its debt stack and respond to evolving market conditions.

    DIVIDEND DECLARATION

    Enerflex is committed to paying a sustainable quarterly cash dividend to shareholders. The Board of Directors has declared a quarterly dividend of CAD$0.0375 per share, payable on March 24, 2025, to shareholders of record on March 10, 2025. With this dividend declaration, Enerflex has shortened the number of calendar days between its record date and payment date to better align the Company’s dividend approach with peers.

    CONFERENCE CALL AND WEBCAST DETAILS

    Investors, analysts, members of the media, and other interested parties, are invited to participate in a conference call and audio webcast on Thursday, February 27, 2025 at 8:00 a.m. (MST), where members of senior management will discuss the Company’s results. A question-and-answer period will follow.

    To participate, register at https://register.vevent.com/register/BI3947144f36ac4488be4e38db59385a7f. Once registered, participants will receive the dial-in numbers and a unique PIN to enter the call. The audio webcast of the conference call will be available on the Enerflex website at www.enerflex.com under the Investors section or can be accessed directly at https://edge.media-server.com/mmc/p/dvksnz6g/.

    NON-IFRS MEASURES

    Throughout this news release and other materials disclosed by the Company, Enerflex employs certain measures to analyze its financial performance, financial position, and cash flows, including net debt-to-EBITDA ratio and bank-adjusted net debt-to-EBITDA ratio. These non-IFRS measures are not standardized financial measures under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Accordingly, non-IFRS measures should not be considered more meaningful than generally accepted accounting principles measures as indicators of Enerflex’s performance. Refer to “Non-IFRS Measures” of Enerflex’s MD&A for the three months ended December 31, 2024, for information which is incorporated by reference into this news release and can be accessed on Enerflex’s website at www.enerflex.com and under the Company’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    ADJUSTED EBITDA

    Three months ended
    December 31, 2024
    ($ millions)   NAM   LATAM   EH   Total
    Net earnings1             $ 15
    Income taxes1               6
    Net finance costs1,2               26
    EBIT3 $ 34 $ 11 $ 4 $ 47
    Depreciation and Amortization   19   12   14   45
    EBITDA $ 53 $ 23 $ 18 $ 92
    Restructuring, transaction and integration costs   1       1
    Share-based compensation   11   2   3   16
    Impact of finance leases                
    Principal payments received       10   10
    Loss on redemption options3               2
    Adjusted EBITDA $ 65 $ 25 $ 31 $ 121


    1
    The Company included net earnings, income taxes, and net finance costs on a consolidated basis to reconcile to EBIT.
    2Net finance costs are considered corporate expenditures and therefore have not been allocated to reporting segments.
    3EBIT includes $2 million loss on redemption options associated with the Notes. Debt is managed within Corporate and is not allocated to reporting segments.

    Three months ended
    December 31, 2023
    ($ millions)   NAM   LATAM   EH   Total
    Net loss1             $ (95)
    Income taxes1               19
    Net finance costs1,2               25
    EBIT $ 47 $ (84) $ (14) $ (51)
    Depreciation and amortization   18   14   19   51
    EBITDA $ 65 $ (70) $ 5 $
    Restructuring, transaction and integration costs   3   2   13   18
    Share-based compensation   (1)       (1)
    Impact of finance leases                
    Principal payments received       9   9
    Goodwill impairment     65     65
    Adjusted EBITDA $ 67 $ (3) $ 27 $ 91


    1
    The Company included net earnings, income taxes, and net finance costs on a consolidated basis to reconcile to EBIT.
    2Net finance costs are considered corporate expenditures and therefore have not been allocated to reporting segments.

    Twelve months ended
    December 31, 2024
    ($ millions)   NAM   LATAM   EH   Total
    Net earnings1             $ 32
    Income taxes1               49
    Net finance costs1,2               98
    EBIT3 $ 166 $ 29 $ (33) $ 179
    Depreciation and amortization   74   53   58   185
    EBITDA $ 240 $ 82 $ 25 $ 364
    Restructuring, transaction and integration costs   7   4   3   14
    Share-based compensation   19   5   5   29
    Impact of finance leases                
    Upfront gain       (3)   (3)
    Principal payments received     1   44   45
    Gain on redemption options3               (17)
    Adjusted EBITDA $ 266 $ 92 $ 74 $ 432


    1
    The Company included net earnings, income taxes, and net finance costs on a consolidated basis to reconcile to EBIT.
    2Net finance costs are considered corporate expenditures and therefore have not been allocated to reporting segments.
    3EBIT includes $17 million gain on redemption options associated with the Notes. Debt is managed within Corporate and is not allocated to reporting segments.

    Twelve months ended
    December 31, 2023
    ($ millions)   NAM   LATAM   EH   Total
    Net loss1             $ (83)
    Income taxes1               31
    Net finance costs1,2               94
    EBIT $ 127 $ (90) $ 5 $ 42
    Depreciation and amortization   69   48   81   198
    EBITDA $ 196 $ (42) $ 86 $ 240
    Restructuring, transaction and integration costs   11   10   23   44
    Share-based compensation   4   1   1   6
    Impact of finance leases                
    Upfront gain       (13)   (13)
    Principal payments received     1   35   36
    Goodwill impairment     65     65
    Adjusted EBITDA $ 211 $ 35 $ 132 $ 378


    1
    The Company included net earnings, income taxes, and net finance costs on a consolidated basis to reconcile to EBIT.
    2Net finance costs are considered corporate expenditures and therefore have not been allocated to reporting segments.


    FREE CASH FLOW AND DIVIDEND PAYOUT RATIO

    The Company modified its calculation of free cash flow to include a deduction for growth capital expenditures and exclude the deduction for dividends paid. Free cash flow is now defined as cash provided by (used in) operating activities, less total capital expenditures (growth and maintenance) for PP&E and EI assets, mandatory debt repayments, and lease payments, while proceeds on disposals of PP&E and EI assets are added back. This modification is aimed at providing additional clarity into Enerflex’s free cash flow and help users of the financial statements assess the level of free cash generated to fund other non-operating activities. These activities could include dividend payments, share repurchases, and non-mandatory debt repayments. Free cash flow may not be comparable to similar measures presented by other companies as it does not have a standardized meaning under IFRS. Management has adopted this non-IFRS measure to improve comparability with its peers.

      Three months ended
    December 31,
    Twelve months ended
    December 31,
    ($ millions, except percentages)   2024   2023   2024   2023
    Cash provided by operating activities before changes in working capital and other1 $ 74 $ 46 $ 218 $ 193
    Net change in working capital and other   39   112   106   13
    Cash provided by operating activities2 $ 113 $ 158 $ 324 $ 206
    Less:                
    Capital expenditures – Maintenance and PP&E   (21)   (13)   (53)   (45)
    Capital expenditures – Growth   (11)   (4)   (22)   (61)
    Mandatory debt repayments     (10)   (10)   (20)
    Lease payments   (5)   (3)   (20)   (15)
    Add:                
    Proceeds on disposals of PP&E and EI assets     11   3   30
    Free cash flow $ 76 $ 139 $ 222 $ 95
    Dividends paid   2   2   9   9
    Dividend payout ratio   2.6%   1.4%   4.1%   9.5%


    1
    Enerflex also refers to cash provided by operating activities before changes in working capital and other as “Funds from operations” or “FFO”.
    2Enerflex also refers to cash provided by operating activities as “Cashflow from operations” or “CFO”.


    BANK-ADJUSTED NET DEBT-TO-EBITDA RATIO

    The Company defines net debt as short- and long-term debt less cash and cash equivalents at period end, which is then divided by EBITDA for the trailing 12 months. In assessing whether the Company is compliant with the financial covenants related to its debt instruments, certain adjustments are made to net debt and EBITDA to determine Enerflex’s bank-adjusted net debt-to-EBITDA ratio. These adjustments and Enerflex’s bank-adjusted net-debt-to EBITDA ratio are calculated in accordance with, and derived from, the Company’s financing agreements.

    GROSS MARGIN BEFORE DEPRECIATION AND AMORTIZATION

    Gross margin before depreciation and amortization is a non-IFRS measure defined as gross margin excluding the impact of depreciation and amortization. The historical costs of assets may differ if they were acquired through acquisition or constructed, resulting in differing depreciation. Gross margin before depreciation and amortization is useful to present operating performance of the business before the impact of depreciation and amortization that may not be comparable across assets.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “future”, “intend”, “may”, “plan”, “potential”, “predict”, “should”, “will” and similar expressions, (including negatives thereof) are intended to identify FLI.

    In particular, this news release includes (without limitation) forward-looking information and statements pertaining to:

    • expectations that the North American contract compression fleet will grow to over 475,000 horsepower by the end of 2025;
    • the Company’s expectations to further reduce debt, provide direct shareholder returns and create meaningful long-term value for Enerflex shareholders, and the timing associated therewith, if at all;
    • disclosures under the heading “Outlook” including:
      • steady demand will continue across our business lines and geographic regions for 2025;
      • the highly contracted EI product line and the recurring nature of AMS will, together, account for approximately 65% of Enerflex’s gross margin before depreciation and amortization;
      • customer contracts within Enerflex’s EI product line will generate approximately $1.5 billion of revenue during their current terms;  
      • a majority of the ES product line backlog of approximately $1.3 billion as at December 31, 2024, will convert into revenue over the next 12 months;
      • ES gross margin before depreciation and amortization is expected to be more consistent with the historical long-term average for this business line with near term revenue remaining steady;
      • the potential application of tariffs and the anticipated impact of such tariffs including the Company’s expectation that such impact to Enerflex will be mitigated by the Company’s diversified operations and proactive risk management;
      • that the Company is well positioned to benefit from growth in domestic energy production;
      • total capital expenditures in 2025 will be $110 million to $130 million which includes approximately $70 million for maintenance and PP&E capital expenditures; and
      • the fundamentals for contract compression in the USA remain strong, led by expected increases in natural gas production in the Permian and capital spending discipline from market participants;
    • the ability of Enerflex to continue to pay a sustainable quarterly cash dividend.

    FLI reflect management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including but not limited to:

    • any potential tariffs imposed will have a manageable impact on our operations and cost structure and increased domestic energy production will offset any negative effects of such tariffs;
    • market dynamics, including increased energy demand, infrastructure development, and production activity, will drive growth in natural gas and produced water volumes across Enerflex’s core operating countries;
    • market conditions, customer activity, and industry fundamentals will support stable demand across our business lines and geographic regions throughout 2025;
    • the high level of contractual commitments within the EI product line and the predictable, recurring revenue from AMS will continue;
    • existing customer contracts within the EI product line will remain in effect and with no material cancellations or renegotiations over their remaining terms;
    • the execution of projects within the ES product line will proceed as scheduled and the conversion to revenue will proceed without significant delays or cancellations;
    • no significant unforeseen cost overruns or project delays;
    • Enerflex will maintain sufficient cash flow, profitability, and financial flexibility to support the ongoing payment of a sustainable quarterly cash dividend, subject to market conditions, operational performance, and board approval.

    As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 28, 2024, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    The outlook provided in this news release is based on assumptions about future events, including economic conditions and proposed courses of action, based on Management’s assessment of the relevant information currently available. The outlook is based on the same assumptions and risk factors set forth above and is based on the Company’s historical results of operations. The outlook set forth in this news release was approved by Management and the Board of Directors. Management believes that the prospective financial information set forth in this news release has been prepared on a reasonable basis, reflecting Management’s best estimates and judgments, and represents the Company’s expected course of action in developing and executing its business strategy relating to its business operations. The prospective financial information set forth in this news release should not be relied on as necessarily indicative of future results. Actual results may vary, and such variance may be material.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Marc Rossiter
    President and Chief Executive Officer
    E-mail: MRossiter@enerflex.com

    Preet S. Dhindsa
    Senior Vice President and Chief Financial Officer
    E-mail: PDhindsa@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Investor Relations
    E-mail: JFetterly@enerflex.com

    The MIL Network

  • MIL-OSI Global: Gene Hackman will be remembered as the Hollywood actor’s actor

    Source: The Conversation – Global Perspectives – By Will Jeffery, Sessional Academic, Discipline of Film Studies, University of Sydney

    Gene Hackman, an acting titan of 1970s and ‘80s Hollywood with more than 80 screen credits to his name, has died at 95. He was found dead in his home with his wife, pianist Betsy Arakawa, and his dog.

    Hackman had a rugged, dominating and commanding presence on screen, known for his emotionally honest, raw and fierce performances. Always the tough guy, never the romantic lead, off camera he was shy and enjoyed the quiet life.

    I first saw Hackman as a child in The Poseidon Adventure (1972). My dad put the film on for the upside-down ocean liner disaster sequences, but it was Hackman who left a lasting impression. I vividly remember being so moved by his final speech berating God for deserting the ship’s passengers and crew while he hangs from a pressure valve door over flames.

    There is no actor who comes close to conveying authority with such humanity and reserve.

    He was often referred to as the actor’s actor and mentioned by Hollywood A-listers such as Kevin Costner as the best actor they’ve ever worked with. Clint Eastwood, once Hackman retired, described him as “too good not to be performing”.

    Hackman will leave a legacy to be studied and appreciated for years to come.

    Finding a foot in show business

    Born in San Bernardino, California, on January 30 1930, Hackman’s family moved to Danville, Illinois, when he was three. Hackman’s father left when he was 13, which he described to James Lipton on Inside the Actors Studio as his father “driving by with a casual wave goodbye”.

    Hackman joked to Lipton the departure of his father at an early age made him a better actor.

    Hackman left Danville at the age of 16 to join the marines, where he spent roughly four years. He was a rebellious child, but as Peter Shelley detailed in his biography of Hackman, the marine corps was the first time he gave in to authority.

    After the marine corps, Hackman moved to New York wanting to become an actor, telling people he was inspired by tough guy James “Jimmy” Cagney.

    In New York, Hackman struggled making a living as an artist while waiting for his breakthrough (his uncle told him to give up and get an honest job). Moving to California, he became friends early on with Dustin Hoffman (they finally appeared opposite each other in Hackman’s penultimate film, 2003’s Runaway Jury).

    After struggling for years, Hackman landed his first credited screen role in 1964’s Lilith at the age of 34. He played a small part opposite upcoming star Warren Beatty.

    As Hackman recounted to Lipton, Beatty told director Arthur Penn how great Hackman was in a scene they did together. That landed Hackman his breakthrough role playing Buck Barrow opposite Beatty and Faye Dunaway in the 1967 hit Bonnie and Clyde, earning him an Oscar nomination for best supporting actor.

    Breaking through in the 1970s

    It wasn’t until the 1970s that Hackman began his leading role career, starring in The French Connection (1971) as the unforgettable hard-boiled New York detective Jimmy “Popeye” Doyle. This role earned him his first Academy Award, for best actor.

    He was to wait more than 20 years for his second and final Academy Award, for playing the ruthless Little Bill Daggett opposite Clint Eastwood in Unforgiven (1992).

    Throughout the 1970s, Hackman was gaining huge popularity on screen, sharing records with the likes of Robert Redford and Harrison Ford as the highest grossing stars at the box office.

    There are too many great Hackman performances to mention, but my favourites are Unforgiven, The French Connection, The Poseidon Adventure, The Conversation (1974), Hoosiers (1986), Mississippi Burning (1988) and The Royal Tenenbaums (2001).

    The French Connection’s director, William Friedkin, said in an interview Hackman was anti-authority and anti-racism because of his upbringing in an area known for its large Ku Klux Klan presence, and his absent father.

    Hackman almost pulled out of The French Connection one week into shooting because he didn’t like “beating on people” for a four-month shoot. He told Friedkin “I don’t think I can do this,” but Friedkin refused to let him go.

    Hackman recalled he was eternally grateful Friedkin didn’t, as it was “the start of [his] career”.

    Hackman said his character Popeye Doyle was a “bigot, an antisemitic, and whatever else you wanted to call him”, and he famously struggled to say the N-word in one key scene. He initially protested the line but eventually went with it, believing “that’s who the guy is […] you couldn’t really whitewash him”.

    Hackman often played the character who had the greatest authority on the surface but slipped up, whether he was playing the hero or the villain. Even for a role such as Reverend Scott in The Poseidon Adventure, in which Hackman played a self-righteous preacher onboard the capsized SS Poseidon, he questions his religion as he leads the entire band of escapees to safety.

    A life after acting

    Hackman retired from acting in 2004 at age 74.

    There are many stories about why he retired, like, as Shelley writes, not wanting to play Hollywood “grandfathers” and his “heart wasn’t in shape”, but his life after acting gives a strong hint: he had other interests.

    Over the past 20 years, Hackman wrote three historical fiction novels, was a keen painter, and enjoyed exercise such as cycling. Married to classical pianist Arakawa from 1991 until their death, they lived in Santa Fe, New Mexico, where he designed his own home (yes, he also loved architecture!).

    A man of many talents who played a kaleidoscopic range of authoritative roles, Hackman will almost certainly be remembered mainly for his tough-guy performance in The French Connection – though many will also remember him as the Hollywood actor’s actor.

    Will Jeffery 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. Gene Hackman will be remembered as the Hollywood actor’s actor – https://theconversation.com/gene-hackman-will-be-remembered-as-the-hollywood-actors-actor-233109

    MIL OSI – Global Reports

  • MIL-OSI: Threats, political repatriations and kidnap dominate the crisis management landscape, according to Willis

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 27, 2025 (GLOBE NEWSWIRE) — 26% of all incidents reported by clients last year to Alert:24 – the in-house risk advisory and crisis support service provided by Willis, a WTW business – were related to threats against individuals or client assets. Closely following, at 21% each, were emergency political repatriations of employees or family members and kidnaps for ransom, according to its latest Crisis Management Annual Review.

    In a record year for the number of elections in 2024, incumbents in many of the world’s leading democracies faced significant declines in vote share, with nearly 80% losing ground compared to previous elections. The trend was driven by poor economic performance, with high inflation being a major concern for voters. While some incumbents formed minority coalitions to stay in power, many were ousted. The year saw significant protests and political turmoil in both free and authoritarian countries.

    Looking ahead to 2025, rising populism, divisive rhetoric, and socio-economic tensions will drive continued violence and unrest in Europe, but the security agenda will remain dominated by terrorism threats and geopolitical challenges. Acts of violence directed against European officials surged in 2024, a trend which is expected to continue in 2025. Terrorism in North America and Europe will highly likely continue to stem from lone-wolf actors inspired by radical ideologies and involve low sophistication tactics and techniques.

    Civil unrest and political violence are also a possibility amid growing social tensions in the US.

    In Asia-Pacific, the threat of active assailant incidents has come to the fore over the past year and will remain a trend to watch.

    Other key takeaways include:

    • Persistent trends: In the US, the number of active assailant attacks remains higher than the pre-COVID-19 average, with a continued prevalence of workplace violence and mass shootings. The threat of lone-wolf terrorism also persists, with radicalization taking place online. In Latin America, organized crime continues to be pervasive, with highly operational criminal enterprises often intertwining with political structures to advance their interests and destabilize democratic institutions. Consequently, there has been a surge in kidnapping, in particular express kidnappings, with notifications to the Crisis Support Team for this type of incident originating in Brazil, Colombia, and Mexico.
    • Sustained level of conflict: Overall, client incident notifications reduced by 21% in 2024 in comparison to the prior year, reflecting a 2023 characterized by a sustained level of conflict and catastrophes. While major events, such as the conflict between Israel and Hamas and the Sudanese Civil War, continue to fuel demand for risk mitigation services to protect operations, assets and personnel in affected areas, no new crises of a similar scale have emerged in 2024.
    • Regional distribution of incidents: Africa led the tally with 27% of total incidents reported to Alert:24 by clients, all of them in Sub-Saharan Africa, with no single country accounting for a disproportionate share. Latin America was not far behind, more than doubling its share of incidents from 13% to 24%. Haiti was particularly notable as it accounted for approximately 20% of the events in Latin America, after not having registered any incidents during the previous year. Europe saw a reduction of total incidents from 14% to 8%.

    Overall, the past few years have seen instances of political unrest that have significantly impacted the shape of global commerce. Much uncertainty lies ahead across the world, as even just one event could have resounding global trade repercussions. Those organizations able to quickly identify and rapidly respond to changes in political risks to their global supply chains are likely to have a competitive advantage over their peers.

    Jo Holliday, global head of crisis management, said: “We continue to see clients impacted by a wide range of incident types across a broad geographical footprint, impacting both their people and physical assets. Looking ahead, political instability and the consequences of it are likely to continue and those clients that accurately assess, manage and then act on it are likely to navigate the volatile risk environment more effectively. Combining relevant insight and research, risk identification and quantification analytics as well as proactive crisis management is crucial for companies looking to ensure stability and resilience and are key to navigating these challenging times effectively.”

    The report can be downloaded here.

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

    Learn more at wtwco.com.

    Media contact

    Sarah Booker:
    Sarah.Booker@wtwco.com / +44 7917 722040

    The MIL Network

  • MIL-Evening Report: Gene Hackman will be remembered as the Hollywood actor’s actor

    Source: The Conversation (Au and NZ) – By Will Jeffery, Sessional Academic, Discipline of Film Studies, University of Sydney

    Gene Hackman, an acting titan of 1970s and ‘80s Hollywood with more than 80 screen credits to his name, has died at 95. He was found dead in his home with his wife, pianist Betsy Arakawa, and his dog.

    Hackman had a rugged, dominating and commanding presence on screen, known for his emotionally honest, raw and fierce performances. Always the tough guy, never the romantic lead, off camera he was shy and enjoyed the quiet life.

    I first saw Hackman as a child in The Poseidon Adventure (1972). My dad put the film on for the upside-down ocean liner disaster sequences, but it was Hackman who left a lasting impression. I vividly remember being so moved by his final speech berating God for deserting the ship’s passengers and crew while he hangs from a pressure valve door over flames.

    There is no actor who comes close to conveying authority with such humanity and reserve.

    He was often referred to as the actor’s actor and mentioned by Hollywood A-listers such as Kevin Costner as the best actor they’ve ever worked with. Clint Eastwood, once Hackman retired, described him as “too good not to be performing”.

    Hackman will leave a legacy to be studied and appreciated for years to come.

    Finding a foot in show business

    Born in San Bernardino, California, on January 30 1930, Hackman’s family moved to Danville, Illinois, when he was three. Hackman’s father left when he was 13, which he described to James Lipton on Inside the Actors Studio as his father “driving by with a casual wave goodbye”.

    Hackman joked to Lipton the departure of his father at an early age made him a better actor.

    Hackman left Danville at the age of 16 to join the marines, where he spent roughly four years. He was a rebellious child, but as Peter Shelley detailed in his biography of Hackman, the marine corps was the first time he gave in to authority.

    After the marine corps, Hackman moved to New York wanting to become an actor, telling people he was inspired by tough guy James “Jimmy” Cagney.

    In New York, Hackman struggled making a living as an artist while waiting for his breakthrough (his uncle told him to give up and get an honest job). Moving to California, he became friends early on with Dustin Hoffman (they finally appeared opposite each other in Hackman’s penultimate film, 2003’s Runaway Jury).

    After struggling for years, Hackman landed his first credited screen role in 1964’s Lilith at the age of 34. He played a small part opposite upcoming star Warren Beatty.

    As Hackman recounted to Lipton, Beatty told director Arthur Penn how great Hackman was in a scene they did together. That landed Hackman his breakthrough role playing Buck Barrow opposite Beatty and Faye Dunaway in the 1967 hit Bonnie and Clyde, earning him an Oscar nomination for best supporting actor.

    Breaking through in the 1970s

    It wasn’t until the 1970s that Hackman began his leading role career, starring in The French Connection (1971) as the unforgettable hard-boiled New York detective Jimmy “Popeye” Doyle. This role earned him his first Academy Award, for best actor.

    He was to wait more than 20 years for his second and final Academy Award, for playing the ruthless Little Bill Daggett opposite Clint Eastwood in Unforgiven (1992).

    Throughout the 1970s, Hackman was gaining huge popularity on screen, sharing records with the likes of Robert Redford and Harrison Ford as the highest grossing stars at the box office.

    There are too many great Hackman performances to mention, but my favourites are Unforgiven, The French Connection, The Poseidon Adventure, The Conversation (1974), Hoosiers (1986), Mississippi Burning (1988) and The Royal Tenenbaums (2001).

    The French Connection’s director, William Friedkin, said in an interview Hackman was anti-authority and anti-racism because of his upbringing in an area known for its large Ku Klux Klan presence, and his absent father.

    Hackman almost pulled out of The French Connection one week into shooting because he didn’t like “beating on people” for a four-month shoot. He told Friedkin “I don’t think I can do this,” but Friedkin refused to let him go.

    Hackman recalled he was eternally grateful Friedkin didn’t, as it was “the start of [his] career”.

    Hackman said his character Popeye Doyle was a “bigot, an antisemitic, and whatever else you wanted to call him”, and he famously struggled to say the N-word in one key scene. He initially protested the line but eventually went with it, believing “that’s who the guy is […] you couldn’t really whitewash him”.

    Hackman often played the character who had the greatest authority on the surface but slipped up, whether he was playing the hero or the villain. Even for a role such as Reverend Scott in The Poseidon Adventure, in which Hackman played a self-righteous preacher onboard the capsized SS Poseidon, he questions his religion as he leads the entire band of escapees to safety.

    A life after acting

    Hackman retired from acting in 2004 at age 74.

    There are many stories about why he retired, like, as Shelley writes, not wanting to play Hollywood “grandfathers” and his “heart wasn’t in shape”, but his life after acting gives a strong hint: he had other interests.

    Over the past 20 years, Hackman wrote three historical fiction novels, was a keen painter, and enjoyed exercise such as cycling. Married to classical pianist Arakawa from 1991 until their death, they lived in Santa Fe, New Mexico, where he designed his own home (yes, he also loved architecture!).

    A man of many talents who played a kaleidoscopic range of authoritative roles, Hackman will almost certainly be remembered mainly for his tough-guy performance in The French Connection – though many will also remember him as the Hollywood actor’s actor.

    Will Jeffery 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. Gene Hackman will be remembered as the Hollywood actor’s actor – https://theconversation.com/gene-hackman-will-be-remembered-as-the-hollywood-actors-actor-233109

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Eugene Doyle: Yellow Peril!  Red Peril! ‘We cannot hide anymore’. Chinese warships in the Tasman Sea. 

    Report by Dr David Robie – Café Pacific.

    COMMENTARY: By Eugene Doyle

    The Western media went into overdrive this week to work the laconic Kiwis into a mild frenzy over three Chinese naval vessels conducting exercises in the Tasman Sea a few thousand kilometres off our shores.

    What was really behind this orchestrated campaign?

    The New Zealand government led the rhetorical charge over the Hengyang, the Zunyi and the Weishanhu in mare nostrum (“Our Sea”, as the Romans liked to call the Mediterranean).

     “We cannot hide at this end of the world anymore,” Defence Minister Judith Collins said in light of three Chinese boats in the Tasman.

    Warrior academics were next . “We need to go to the cutting edge, and we need to do that really, really fast,” the ever-reliable China hawk Anne-Marie Brady of Canterbury University said, telling 1 News the message of the live-firing exercises was that China wants to rule the waves.

    The British Financial Times chimed in with a warning that “A confronting strategic future is arriving fast”.

    Could this have anything to do with the fact we are fast approaching the New Zealand government’s 2025 budget and that they — and their Australian, US and UK allies — are intent on a major increase in Kiwi defence funding, moving from around 1.2 percent of GDP to possibly two percent? A long-anticipated Defence Capability Review is also around the corner and is likely to come with quite a shopping list of expensive gear.

    The New Zealand government led the rhetorical charge over the Hengyang, the Zunyi and the Weishanhu in mare nostrum (“Our Sea”, as the Romans liked to call the Mediterranean). Image: www.solidarity.co.nz

    What’s good for the goose . . .
    It is worth pointing out that New Zealand and Australian warships sailed through the contested Taiwan Strait and elsewhere in the South China Sea as recently as September 2024. What’s good for the goose is good for the Panda.

    And, of course, at any one time about 20 US nuclear submarines are prowling in the deep waters of the Pacific Ocean and South China Sea. Each can carry missiles the equivalent of over 1000 Hiroshima bombs — truly apocalyptic.

    Veteran New Zealand peace campaigner Mike Smith (a friend) was not in total disagreement with the hawks when it came to the argy-bargy in the Tasman.

    “The emergence apparently from nowhere of a Chinese naval expedition in our waters I think may be intended to demonstrate that they have a large and very capable blue water navy now and won’t be penned in by AUKUS submarines when and if they arrive off their coast.

    “I think the main message is to the Australians: if you want to homebase nuclear-capable B-52s we have more than one way to come at you. That was also the message of the ICBM they sent into the Pacific: Australia is no longer an unsinkable aircraft carrier.”

    According to the Asia Times, China fired the ICBM — the first such shot into the Pacific by China — just days after HMNZS Aotearoa sailed through the Taiwan Strait with Australian vessel HMAS Sydney.

    Smith says our focus should be on building positive relationships in the Pacific on our terms. “Buying expensive popguns will not save us.”

    China Scare a page out of Australia’s Red Scare playbook
    For people good at pattern recognition this week’s China Scare was obviously a page or two out of the same playbook that duped a majority of Australians into believing China was going to invade Australia. They were lulled into a false sense of insecurity back in 2021 — the mediascape flooded with Red Alert, China panic stories about imminent war with the rising Asian power.

    As a sign of how successful the mainstream media can be in generating fear that precedes major policy shifts: research by Australia’s Institute of International & Security Affairs showed that more Australians thought that China would soon attack Australia than Taiwanese believed China would attack Taiwan!

    Once the population was conditioned, they woke one morning in September 2021 with the momentous news that Australia had ditched a $90 billion submarine defence deal with France and the country was now part of a new anti-Chinese military alliance called AUKUS. This was the playbook that came to mind last week.

    There are strong, rational arguments that could be made to increase our spending at this time. But I loathe and decry this kind of manipulation, this manufacturing of consent.

    I also fear what those billions of dollars will be used for. Defending our coastlines is one thing; joining an anti-Chinese military alliance to please the US is quite another.

    Prime Minister Luxon has called China — our biggest trading partner — a strategic competitor. He has also suggested, somewhat ludicrously, that our military could be a “force multiplier” for Team AUKUS.

    We are hitching ourselves to the US at the very time they have proven they treat allies as vassals, threatened to annex Greenland and the Panama Canal, continue to commit genocide in Gaza, and are now imposing an unequal treaty on Ukraine.


    Australia’s ABC News on Foreign Minister Winston Peter’s talks in China. Video: ABC

    Whose side – or calmer independence?
    Whose side should we be on? Or should we return to a calmer, more independent posture?

    And then there’s the question of priorities. The hawks may convince the New Zealand population that the China threat is serious enough that we should forgo spending money on child poverty, fixing our ageing infrastructure, investing in health and education and instead, as per pressure from our AUKUS partners, spend some serious coin — billions of dollars more — on defence.

    Climate change is one battle that is being fought and lost. Will climate funding get the bullet so we can spend on military hardware? That would certainly get a frosty reaction from Pacific nations at the front edge of sea rise.

    The government in New Zealand is literally taking the food out of children’s mouths to fund weapons systems. The Ka Ora, Ka Ako programme provides nutritious lunches every day to a quarter of a million of New Zealand’s most needy children.

    Its funding has recently been slashed by over $100 million by the government despite its own advisors telling it that such programmes have profound long-term wellbeing benefits and contribute significantly to equity. In the next breath we are told we need to boost funding for our military.

    The US appears determined to set itself on a collision course with China but we don’t have to be crash test dummies sitting alongside them. Prudence, preparedness, vigilance and risk-management are all to be devoutly wished for; hitching our fate to a hostile US containment strategy is bad policy both in economic and defence terms.

    In the absence of a functioning media — one that showcases diverse perspectives and challenges power rather than works hand-in-glove with it — populations have been enlisted in the most abhorrent and idiotic campaigns: the Red Peril, the Jewish Peril and the Black Peril (in South Africa and the southern states of the USA), to name three.

    Our media-political-military complex is at it again with this one — a kind of Yellow Peril Redux.

    New Zealand trails behind both Australia and China in development assistance to the Pacific. If we wish to “counter” China, supporting our neighbours would be a better investment than encouraging an unwinnable arms race.

    In tandem, I would advocate for a far deeper diplomatic and cultural push to understand and engage with China; that would do more to keep the region peaceful and may arrest the slow move in China towards seeking other markets for the high-quality primary produce that an increasingly bellicose New Zealand still wishes to sell them.

    Let’s be friends to all, enemies of none. Keep the Pacific peaceful, neutral and nuclear-free.

    Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and he is a regular contributor to Asia Pacific Report and Café Pacific.

    This article was first published on Café Pacific.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: February 26th, 2025 Heinrich, Stansbury Lead Colleagues to Demand Reversal of Trump Attacks on Programs Serving Tribes and Tribal Members

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich
    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) and U.S. Representative Melanie Stansbury (D-N.M.) led 109 of their colleagues in a bicameral letter to President Donald Trump, U.S. Department of the Interior Secretary Doug Burgum, and U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. in demanding that efforts to fire employees and defund programs that serve Tribes and Tribal members be stopped and reversed.
    The lawmakers demanded that the President, Secretary Burgum, and Secretary Kennedy, “take immediate action to halt, exempt, and reverse the impacts to federal employees and funding serving Indian Country, as those positions and programs are essential for the administration of legally mandated Tribal programs and services.”
    Outlining the impact of the Trump administration’s actions to-date, the lawmakers wrote, “Your administration’s recent executive actions undermine Tribal sovereignty, existing federal law, and the federal-Tribal government-to-government relationship” The lawmakers continued, “In the past month, your administration has taken aim at thousands of federal workers across various government agencies. Reports indicate that this includes more than 2,600 federal employees at the Department of Interior, including more than 100 Bureau of Indian Affairs (BIA) employees, more than 40 Bureau of Indian Education (BIE) employees, several employees at the Office of Indian Affairs, as well as social workers, firefighters, and police that work on behalf of Indian Country, plus some 950 Indian Health Service (IHS) employees at the Department of Health and Human Services.”
    The lawmakers further reminded the President and Secretary Burgum that “Tribal Nations are sovereign governments with a unique legal and political relationship to the United States. The inherent sovereignty of Tribes is recognized in the U.S. Constitution, in treaties, and across many federal laws and policies, and it has been consistently upheld by the U.S. Supreme Court.” The lawmakers continued, “These trust and treaty obligations in some cases predate both the establishment of all of the agencies in question as well as the United States itself. Pursuant to those legal obligations, we must adequately fund and staff agencies that provide these essential services and programs, including at BIA, BIE, and IHS.”
    In the Senate, the letter was led by Senate Energy and Natural Resources Ranking Member Martin Heinrich (D-N.M.). The letter was signed by U.S. Senate Minority Leader Chuck Schumer (D-N.Y.) and U.S. Senators Ben Ray Lujan (D-N.M.), Michael Bennet (D-Colo.), Catherine Cortez Masto (D-Nev.), Ruben Gallego (D-Ariz.), John Hickenlooper (D-Colo.), Mark Kelly (D-Ariz.), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Tina Smith (D-Minn.), and Ron Wyden (D-Ore.).
    In the House, the letter was led by U.S. Representative Melanie Stansbury (D-N.M.). The letter was signed by 93 House members, including U.S. Representatives Gabe Vasquez (D-N.M.) and Teresa Leger Fernandez (D-N.M.).
    The full text of the letter is available here and below.
    Dear President Trump, Secretary Burgum, and Secretary Kennedy:
    We write to you today to urge you to take immediate action to halt, exempt, and reverse from existing or future executive actions any federal offices, services, or funding that serve Indian Country, as these positions and programs are essential to the administration of legally mandated Tribal programs and services.
    We are gravely concerned about the implementation of recent Executive Orders (EO), including EO 14210 entitled “Implementing the President’s “Department of Government Efficiency” Workforce Optimization Initiative,” and the implications of reductions in the federal workforce and funding for Indian Country. As you know, the U.S. government has both trust and treaty responsibilities to Tribal Nations. These responsibilities are implemented by agencies including the Bureau of Indian Affairs (BIA), Bureau of Indian Education (BIE), Indian Health Service (IHS), and others, providing critical healthcare, education, and social services to Tribal communities. Your administration’s recent executive actions undermine legally required commitments to sovereign Tribal Nations, existing federal law, and the federal-Tribal government-to-government relationship.
    In the past month, your administration has taken aim at thousands of federal workers across various government agencies. Reports indicate that this includes more than 2,600 federal employees at the Department of the Interior, including more than 100 Bureau of Indian Affairs employees, more than 40 Bureau of Indian Education employees, several employees at the Office of Indian Affairs, as well as social workers, firefighters, and police that work on behalf of Indian Country, plus some 950 Indian Health Service employees at the Department of Health and Human Services. There have also been reports of layoffs at Tribal Colleges and Universities, including dozens of educators at both Haskell Indian Nations University and Southwestern Indian Polytechnic Institute which are operated by the Bureau of Indian Education.
    Independent federal oversight entities, such as the Office of the Special Counsel, have already deemed some of these firings to be unlawful. Beyond the legal questions surrounding the ability to fire employees without specifying performance or conduct issues, any unilateral attempts to disrupt existing services administered or funded by the BIA, BIE, IHS, or other Tribal-serving entities would directly violate the trust and treaty obligations of the United States to Tribal Nations.
    Tribal Nations are sovereign governments with a unique legal and political relationship to the United States. The inherent sovereignty of Tribes is recognized in the U.S. Constitution, in treaties, and across many federal laws and policies, and it has been consistently upheld by the U.S. Supreme Court. These trust and treaty obligations in some cases predate both the establishment of all of the agencies in question as well as the United States itself. Pursuant to those legal obligations, the U.S. must adequately fund and staff agencies that provide these essential services and programs, including at BIA, BIE, and IHS.
    We have many concerns about the legality of the administration’s recent actions and, importantly, the ways in which those actions impact the sovereignty, self-determination, and trust and treaty obligations for Indian Country. The implementation of these obligations is a vital, non-discretionary part of federal law and the federal budget. This is not a partisan issue. We urge your administration to immediately halt, exempt, and reverse any federal workforce or federal funding reductions for Tribal programs or services and to engage in formal consultation with affected Tribal Nations at the government-to-government level. Any attempts to unilaterally dismantle or undermine these programs violates trust and treaty obligations, the U.S. Constitution, and centuries of legal precedent.
    Sincerely,

    MIL OSI USA News

  • MIL-OSI: Subsea 7 S.A. Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 27 February 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355, the Company) announced today results of Subsea7 Group (the Group, Subsea7) for the fourth quarter and full year which ended 31 December 2024. Unless otherwise stated the comparative period is the full year which ended 31 December 2023.   

    Highlights 

    • Full year Adjusted EBITDA of $1,090 million, up 53% on the prior year, equating to a margin of 16%
    • Fourth quarter Adjusted EBITDA of $315 million, up 29% on the prior year period, equating to a margin of 17%
    • Robust free cash flow of $408 million in the fourth quarter, leading to a reduction in net debt (including lease liabilities) of $256 million compared to the third quarter
    • Fourth quarter order intake of $2.3 billion, a book-to-bill ratio of 1.2
    • A high-quality backlog of $11.2 billion implies over 80% visibility on 2025 revenue guidance and supports the outlook for Adjusted EBITDA margin expansion to 18 to 20%
    • Dividend of approximately $350 million proposed, subject to shareholder approval, for payment in two equal instalments in 2025
      Fourth Quarter Year Ended
    For the period (in $ millions, except Adjusted EBITDA margin and per share data) Q4 2024
    Unaudited
    Q4 2023
    Unaudited
    2024
    Audited
    2023
    Audited
    Revenue 1,869 1,631 6,837 5,974
    Adjusted EBITDA(a) 315 245 1,090 714
    Adjusted EBITDA margin(a) 17% 15% 16% 12%
    Net operating income 126 55 446 105
    Net income/(loss) 26 (11) 217 10
             
    Earnings per share – in $ per share        
    Basic 0.07 (0.06) 0.68 0.05
    Diluted(b) 0.07 (0.06) 0.67 0.05
             
    At (in $ millions)      

    2024
    31 Dec

     

     2023
    31 Dec

    Backlog(a)     11,175 10,587
    Book-to-bill ratio(a)     1.2x 1.2x
    Cash and cash equivalents     575 751
    Borrowings     (722) (845)
    Net debt excluding lease liabilities(a)     (147) (94)
    Net debt including lease liabilities(a)     (602) (552)

    (a) For explanations and reconciliations of Adjusted EBITDA, Adjusted EBITDA margin, Backlog, Book-to-bill ratio and Net debt refer to the ‘Alternative Performance Measures’ section of the Condensed Consolidated Financial Statements.

    (b) For the explanation and a reconciliation of diluted earnings per share refer to Note 7 ‘Earnings per share’ to the Condensed Consolidated Financial Statements.

    John Evans, Chief Executive Officer, said:

    Subsea7 delivered another strong performance in the fourth quarter of 2024, building on the momentum already achieved over the past two years. With a quarterly Adjusted EBITDA of $315 million and a full year result of approximately $1.1 billion, we exceeded the top end of the guidance range we set out a year ago. 

    During the quarter we recorded order intake of $2.3 billion, resulting in a year end backlog of $11.2 billion. With $5.8 billion for execution in 2025 we are confident in the Group’s ability to generate strong Adjusted EBITDA and cash flow in the year ahead.

    Interactions with clients remain constructive and high tendering activity continues to support our positive outlook. Against this backdrop the Board of Directors has proposed that in 2025, we return approximately $350 million in the form of a cash dividend. Since 2012, Subsea7 has returned approximately $2.5 billion to shareholders and this year’s commitment underscores our commitment to capital discipline and focus on delivering for all our stakeholders.

    Fourth quarter project review
    During the fourth quarter, Subsea7 continued to execute a portfolio of major projects in Brazil, where Seven Vega was active on the Mero 3 project, while Seven Cruzeiro installed umbilicals and Seven Merlin provided support. The pipelay support vessels (PLSVs) also achieved high utilisation. In the US, Seven Navica installed risers at Sunspear, and Seven Seas worked at Shenandoah and Cypre. Seven Borealis, Seven Pacific and Seven Arctic were active in Saudi Arabia, Egypt and Angola. Finally, in Norway, we made good progress in the fabrication of pipelines and bundles for the Yggdrasil project at our Vigra and Wick spoolbases.

    The Renewables business performed strongly and delivered an Adjusted EBITDA margin of 21%. Seaway Alfa Lift and Seaway Strashnov were active on the Dogger Bank B project, installing monopiles and transition pieces. Having achieved good and predictable cycle times for monopile installation, our scope is nearing completion and we will mobilise to the Dogger Bank C project in April. During the quarter our cable lay activities centred on Taiwan where we were active on the Yunlin, Zhong Neng and Hai Long projects. In the US, Seaway Aimery installed cables at the Revolution project. Utilisation of the heavy transportation vessels was high.

    Fourth quarter financial review
    Revenue was $1.9 billion an increase of 15% compared to the prior year period. Adjusted EBITDA of $315 million equated to a margin of 17%, up from 15% in Q4 2023. This reflected another strong quarter of double-digit margins in Renewables and a robust performance in Subsea and Conventional.

    Depreciation, amortisation and impairment charges were $189 million, resulting in net operating income of $126 million compared to $55 million in the prior year period. Net finance costs of $19 million and a net foreign exchange loss of $67 million, resulted in net income for the quarter of $26 million compared with a net loss of $11 million in the prior year period.

    Net cash generated from operating activities in the fourth quarter was $487 million, including a $251 million improvement in net working capital, equating to a cash conversion of 1.6 times. Net cash used in investing activities was $69 million mainly related to purchases of property, plant and equipment and intangible assets. Net cash used in financing activities was $271 million including lease payments of $59 million. Overall, cash and cash equivalents increased by $135 million to $575 million at 31 December 2024 and net debt was $602 million, including lease liabilities of $455 million.

    Fourth quarter order intake was $2.3 billion comprising new awards of $1.8 billion and escalations of $0.5 billion resulting in a book-to-bill ratio of 1.2 times. Backlog at the end of December was $11.2 billion, of which $5.8 billion is expected to be executed in 2025, $3.4 billion in 2026 and $2.0 billion in 2027 and beyond.

    Commitment to shareholder returns
    At the Annual General Meeting on 8 May 2025, the Board of Directors will propose that shareholders approve a cash dividend of NOK 13.00 per share, equating to approximately $350 million, payable in two equal instalments in May and November 2025. This represents a year-on-year increase of 40% in returns to shareholders and is equivalent to an approximate yield of 7% related to the cash dividend.

    Outlook
    We anticipate that revenue in 2025 will be between $6.8 billion and $7.2 billion, while the Adjusted EBITDA margin is expected to be within a range from 18% to 20%. We continue to expect margins to exceed 20% in 2026, based upon our firm backlog of contracts and the prospects in our tendering pipeline.

    Driven by structural factors including economic development and energy security, the outlook for long-term energy demand growth remains positive. Subsea7’s exposure to both the hydrocarbon and renewable sectors leaves the Group well placed to benefit from this structural energy trend. Our focus on late-cycle, long-duration developments adds resilience to our strategy, while our track record for project execution and strong balance sheet support a market-leading position that benefits the Group, our customers and our shareholders.

    Proposed Combination of Subsea7 and Saipem
    On 23 February 2025, Subsea 7 S.A. announced an agreement in principle on the key terms of the proposed merger with Saipem S.p.A. In accordance with the memorandum of understanding signed between Saipem S.p.A. and Subsea 7 S.A., Subsea 7 S.A. shareholders will receive 6.688 Saipem S.p.A. shares for each Subsea 7 S.A. share held, and an extraordinary dividend for an amount equal to €450 million will be distributed immediately prior to completion. Subsea 7 S.A. and Saipem S.p.A. shareholders will own 50% each of the issued share capital of the combined company. The completion of the proposed combination is anticipated to occur in the second half of 2026, following completion of confirmatory due diligence, the approval of the final terms of the proposed combination by the Board of Directors of Subsea 7 S.A. and Saipem S.p.A., the execution of a satisfactory merger agreement, and relevant corporate and regulatory approvals.

    Kristian Siem, Chairman of the Board of Directors and the largest shareholder of Subsea7, as well as the management of Subsea7 share a conviction that there is compelling logic in creating a global leader in energy services, particularly considering the growing size of clients’ projects. Saipem and Subsea7 are highly complementary in terms of market offerings and geographies. The combination would enhance value for shareholders, clients and other stakeholders, both in the current market and in the long term.

    Conference Call Information
    Date: 27 February 2025
    Time: 12:00 UK Time, 13:00 CET
    Access the webcast at subsea7.com or https://edge.media-server.com/mmc/p/aexdnm2p/
    Register for the conference call https://register.vevent.com/register/BIec54517b2a53403badecf6512dc8b41a

    Attachments

    The MIL Network

  • MIL-OSI: Deutsche Telekom’s T Wholesale and Nokia energize network API market with commercial deal to drive and simplify developer-created applications #MWC 2025

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Deutsche Telekom’s T Wholesale and Nokia energize network API market with commercial deal to drive and simplify developer-created applications #MWC 2025

    • Two Deutsche Telekom network API use cases, SIM Swap and Number Verification that are key security and authentication solutions for industries such as financial services and retail, will be made available to developers through Nokia’s Network as Code platform with developer portal.
      • The two APIs will target Germany initially, with other European markets planned for later in the year. Additional Deutsche Telekom APIs, like Location Verification and Quality on Demand, are also expected to be made available on the Network as Code platform in the months ahead.

    27 February 2025
    Espoo, Finland — T Wholesale, which is part of Deutsche Telekom, one of Europe’s largest operators with more than 250 million subscribers, and Nokia have signed a commercial deal that will make two of the operator’s network API use cases, SIM Swap and Number Verification, available to developers through Nokia’s Network as Code platform with developer portal. The deal marks an important step for operators as they accelerate plans to monetize their network assets and core capabilities by exposing their network functions to developers.

    “Network APIs are a growing focus for Deutsche Telekom in Europe. In reaching this milestone, Nokia’s technology and approach give us the confidence that we can fully provide developers with the tools they require to successfully utilize our APIs to better service their own customers with innovative solutions,” said Carsten Bruns, Vice President of Internet & Content Services at T Wholesale.

    SIM Swap and Number Verification are key security and authentication solutions for industries such as financial services and retail, using telecom network capabilities to mitigate fraud and enhance user verification. A SIM Swap API works by detecting if a SIM card associated with a phone number was recently changed, which could trigger additional security verification checks. Number Verification can confirm whether a user has control over a phone number and if a commercial transaction request has come from the same device as the owner.

    “This agreement with Deutsche Telekom’s T Wholesale is a fantastic reflection of our collaboration and joint vision of maximizing the true value of network assets and supporting developers in creating new 5G and 4G applications. This is also an important validation point of Nokia’s solid execution of its network API strategy, technology, and, with our Rapid acquisition, go-to-market capabilities, which are peerless in our industry,” said Raghav Sahgal, President of Cloud and Network Services at Nokia.

    Nokia’s Network as Code platform provides developers with standardized access to network functions, without having to navigate any of the underlying network technologies. Nokia’s network API strategy is centered around connecting multiple API ecosystems through its Network as Code platform by offering operators the broadest range of network exposure options, paired with robust multi-tier API security and simplified access to network functionalities.

    Nokia further strengthened its capabilities recently with its acquisition of Rapid, the world’s largest public API hub that enables operators to seamlessly integrate their networks, actively control API usage and exposure, and enhance API lifecycle management.

    Since launching the Network as Code platform in September 2023, Nokia’s ecosystem of Network as Code platform partners has grown to 51 currently and includes BT, Orange, StarHub, Telefonica, and Telecom Argentina. Nokia’s commitment to API monetization extends beyond network-side aggregation and includes hyperscalers like Google Cloud; Communications Platform as a Service (CPaaS) platform providers such as Infobip; vertical independent software vendors like Elmo; and the world’s largest public API hub through Nokia’s acquisition of Rapid.

    About Nokia 
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. 

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com  

    Follow us on social media 
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    The MIL Network

  • MIL-OSI Economics: Development Asia: Enhancing Vaccine Regulation for Pandemic Preparedness

    Source: Asia Development Bank

    Strengthening regulatory frameworks is critical in ensuring that vaccines are quickly approved and distributed. Using a systematic approach, gaps in key areas of the regulatory system can be identified, prioritized, and effectively addressed through regulatory capacity building and education of regulatory professionals.

    The World Health Organization Global Benchmarking Tool was developed to evaluate regulatory systems objectively and systematically, identify strengths and areas for improvement, guide interventions, and monitor progress in strengthening the regulatory system. Consistent and regular training of national regulators can also complement regulatory systems strengthening efforts by focusing on the identified gaps.

    The diverse and fragmented regulatory environment in Asia and the Pacific calls for regulatory convergence[1] and cooperation to facilitate timely and equitable access in the region. Stable, well-functioning national regulatory authorities in the region listed as WHO Maturity Level 3 and 4 and WHO Listed Authorities, such as those in the People’s Republic of China, India, Indonesia, Republic of Korea, Singapore, Thailand, and Viet Nam, could foster regional regulatory cooperation and serve as reference agencies for lower-resourced regulatory agencies.

    Such cooperation could be facilitated by formalized processes and relationships such as memoranda of understanding. For example, Singapore’s Health Sciences Authority has adopted a confidence-based regulatory approach that leverages the decisions of established and trusted regulatory agencies through formal recognition mechanisms and has expedited reviews without compromising the robustness of regulatory decisions. This has reduced approval timelines to 90 working days from 270 working days for the Health Sciences Authority’s full evaluation route under its verification evaluation system.

    Confidence-based approaches can be adopted in various stages of the vaccine life cycle. The ASEAN Mutual Recognition Arrangement on Good Manufacturing Practice Inspection enables member states to leverage on the regulatory inspections performed by other member states. It is legally binding for member states to recognize one another’s good manufacturing practice certificates, benchmarked against the international Pharmaceutical Inspection Cooperation Scheme.

    Regulatory cooperation can range from legally-binding mechanisms in the form of mutual recognition agreements and reliance mechanisms to other forms of cooperation such as joint collaborative assessments, report sharing and work sharing. Work sharing can promote mutual learning and the sharing of best practices among participating national regulatory authorities and can encourage regulatory convergence. For industry, the work-sharing model can be commercially attractive, providing simultaneous access to multiple countries and shorten timelines with the consolidation of questions.

    While cooperation on vaccine regulation is still nascent, there are other examples of regulatory cooperative mechanisms. Work sharing is practiced by Access Consortium, comprising the national regulatory authorities of Australia, Canada, Singapore, Switzerland and the United Kingdom. A similar coalition is the Opening Procedures at EMA to Non-EU authorities (OPEN) initiative, led by the EMA, which partners Australia, Brazil, Canada, Japan, Switzerland and WHO in joint assessments. In Asia and the Pacific, the Indo-Pacific Regulatory Strengthening Program, comprising Cambodia, Indonesia, Laos, Myanmar, Papua New Guinea, Thailand, and Viet Nam, and supported by Australia, successfully expedited approval of the antimalarial tafenoquine in Thailand in 2019 in its joint review.

    While the work-sharing model has its advantages, the following points also need to be considered:

    • Participating national regulatory authorities may have different priority drug lists and approval timelines.
    • Participating national regulatory authorities may have different technical requirements.
    • Lack of clarity in regulatory decisions could impact company filing strategies.

    Convergence of regulatory requirements can further contribute to successful work-sharing collaborations. One way to incentivize the alignment of key regulatory requirements is the creation of a consensus on indicators that measure overall efficiency of the work-sharing pathway, which participating countries can jointly work towards. Regional regulatory convergence efforts include the APEC Action Plan on Vaccination Across the Life-Course, which sets key policy targets to achieve by 2030. Priorities for alignment include post-approval change management, labeling, and packaging.

    MIL OSI Economics

  • MIL-OSI China: Trump says to impose 25% tariffs on EU products

    Source: China State Council Information Office 3

    U.S. President Donald Trump returns to the White House via Marine One in Washington, D.C., the United States, Feb. 22, 2025. [Photo/Xinhua]

    U.S. President Donald Trump said on Wednesday that his administration has made a decision to impose 25 percent tariffs on products from the European Union (EU), including cars.

    “We have made a decision. We’ll be announcing it very soon, and it’ll be 25 percent generally speaking, and that’ll be on cars and all other things,” Trump told reporters at a White House cabinet meeting.

    Trump claimed that the European Union has “taken advantage of” the United States. “They don’t accept our cars, they don’t accept, essentially, our farm products. They use all sorts of reasons why not. And we accept everything of them, and we have about a 300 billion dollar deficit with the European Union,” he said.

    Politico previously reported that the 300-billion-U.S.-dollar deficit is overstated. “In 2023, the U.S. goods trade deficit with the bloc was 155.8 billion euros, according to EU data. In services, however, the U.S. had a surplus of 104 billion euros, bringing the overall trade balance to 51.8 billion euros (roughly 56 billion U.S. dollars),” according the report.

    When asked by a reporter whether he would continue to delay tariffs on Mexico and Canada due to progress on border control, Trump said he would not prevent the tariffs from taking effect and claimed that the influx of fentanyl had caused “millions of deaths.”

    “I’m not stopping the tariffs. No,” Trump said.

    U.S. Secretary of Commerce Howard Lutnick explained two key deadlines related to the tariffs. Previously, the tariffs on Mexico and Canada had been delayed for one month and is set to take effect on March 4, and the two countries needed to prove to the president before the deadline that they had taken satisfactory actions in controlling the entry of fentanyl. Trump said that “it will be hard to satisfy.”

    Lutnick also noted that the overall tariff actions against more countries would be implemented on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products. On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations.

    On Monday, Trump said that tariffs on Mexico and Canada will “go forward.”

    MIL OSI China News

  • MIL-OSI Submissions: Tech and Business – Oracle Services Power IT Modernization in Asia Pacific

    Source: Information Services Group, Inc.

    Enterprises embrace providers with GenAI tools to improve enterprise cloud migrations, optimize Oracle investments, ISG Provider Lens report says.

    A growing number of enterprises in Asia Pacific are seeking Oracle ecosystem services to help them carry out digital transformations to remain competitive in rapidly changing markets, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific finds many large Oracle customers are modernizing legacy systems, navigating cloud migrations and evaluating hyperscale cloud options. Service providers are helping clients optimize their Oracle investments, often with the use of AI tools, while Oracle is increasingly investing in talent development and collaboration in the region, including partnerships with governments in Singapore, Australia and India for large-scale training programs.

    “Companies in Asia Pacific need digital transformation to stay relevant,” said Michael Gale, partner and regional leader, ISG Asia Pacific. “Oracle and its partners are rising to the challenge by strengthening their expertise and developing talent in the region.”

    Large organizations in manufacturing, retail, financial services, consumer packaged goods and the public sector are increasing their use of Oracle services, the report says. In addition to modernization planning and execution, many seek help addressing regional nuances such as data sovereignty and compliance requirements, especially in India, Singapore, Malaysia, Australia and New Zealand.

    Outdated legacy systems are holding back many organizations in the region, leading to rising demand for both consulting and advisory services to plan modernization initiatives, ISG says. To reach strategic goals and maximize Oracle investments, enterprises seek providers that demonstrate domain expertise and the ability to innovate. Carrying out transitions with minimal disruption and consistent data integrity is a key requirement.

    Companies seeking to maintain Oracle performance and uptime amid cost, compliance and complexity challenges are driving up demand for managed services in Asia Pacific, the report says. Comprehensive services allow clients to optimize resource management, enhance productivity and focus on strategy.

    More enterprises in the region are adopting Oracle Cloud Infrastructure (OCI), often leveraging local data centers and integrating advanced tools, ISG says. A key requirement is the availability of generative AI for process automation and management of multicloud environments. Companies give priority to service providers that offer comprehensive support for Oracle and non-Oracle environments and enhance integration across cloud platforms.

    “Enterprises in Asia Pacific are choosing leading OCI providers with a strong local presence,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Along with competitive pricing and proven track records in Oracle migrations, this fosters trust.”

    The report also examines other trends affecting Oracle users in Asia Pacific, including enterprises consolidating providers of comprehensive application management services and the impact of OCI’s recently introduced interoperability across AWS, Azure and Google Cloud.

    For more insights into the challenges faced by enterprises using Oracle in Asia Pacific, see the ISG Provider Lens Focal Points briefing here.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific evaluates the capabilities of 28 providers across four quadrants: Consulting and Advisory Services, Implementation and Integration Services, Managed Services and OCI Solutions and Capabilities.

    The report names Accenture, Cognizant, Deloitte, HCLTech, Infosys, LTIMindtree, TCS, Tech Mahindra and Wipro as Leaders in all four quadrants. It names PwC as a Leader in three quadrants and KPMG as a Leader in two quadrants. Capgemini is named as a Leader in one quadrant.

    In addition, Capgemini, DXC Technology and Kyndryl are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

    In the area of customer experience, Capgemini is named the global ISG CX Star Performer for 2024 among Oracle Cloud and Technology Ecosystem providers. Capgemini earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence program, the premier quality recognition for the technology and business services industry.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific is available to subscribers or for one-time purchase on this webpage.

    About ISG Provider Lens Research

    The ISG Provider Lens Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

    About ISG

    ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

    MIL OSI – Submitted News

  • MIL-OSI: Banco Itaú Chile Files Material Event Notice Summoning to Annual Shareholders’ Meeting

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Feb. 26, 2025 (GLOBE NEWSWIRE) — BANCO ITAÚ CHILE (SSE: ITAUCL) (the “Bank”) today announced that it filed a Material Event Notice with the Chilean Commission for the Financial Market reporting that the Bank scheduled its Annual Shareholders’ Meeting for April 24, 2025.

    The full Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

    Investor Relations – Banco Itaú Chile

    IR@itau.cl / ir.itau.cl

    The MIL Network

  • MIL-OSI USA: Durbin Exposes Trump’s Phony “Energy Emergency,” Which Will Only Cut American Jobs And Enrich Big Oil Billionaires

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    February 26, 2025
    In a speech on the Senate floor, Durbin urges his colleagues to vote for Senator Kaine’s measure that will end President Trump’s fabricated “energy emergency”
    WASHINGTON – In a speech on the Senate floor today, U.S. Senate Democratic Whip Dick Durbin (D-IL) disparaged the Trump Administration’s fabricated “energy emergency,” which President Trump declared in a vile effort to use additional presidential authority to fast-track the construction of oil pipelines and drilling in the Gulf of Mexico, among many other pro-fossil fuel projects.  The false emergency is a thinly veiled effort to appease President Trump’s wealthy donors at the expense of the planet, American jobs, home electric bills, and the U.S.’ energy independence from China.
    Durbin’s remarks came ahead of a vote on a measure introduced by U.S. Senator Tim Kaine (D-VA) that would end the fictitious national energy emergency declared by President Trump through an Executive Order. 
    Durbin began his floor speech by emphasizing that, despite the Trump Administration’s claims, the United States has been thriving in energy production, particularly because of the Inflation Reduction Actprovisions that every congressional Republican voted against.
    “Among those Executive Orders [issued by President Trump] was his declaration of an ‘energy emergency.’  Turns out that the claim is not based on fact.  There is no ‘energy emergency’ in America.  Under the Biden Administration, we saw record deployment of wind, solar, biofuels, batteries, oil, gas, and nuclear.  In fact, the United States is producing more power than ever, and last year, the United States of America produced more oil than any nation in the history of the world,” Durbin said.  “And yet, President Trump continues to insist that America is on the verge of nationwide blackouts and that clean energy will raise prices.  [That is] Simply not true.”
    As Durbin underscores, President Trump’s emergency declaration was motivated by placating the billionaires that he asked for hefty campaign contributions from.  The declaration grants President Trump additional presidential authorities, allowing the Administration to circumvent critical environmental regulations and open up federal lands and waters for oil and gas drilling.  This will only enrich Big Oil executives while desecrating protected lands.
    “So what’s the reason for the President to try to mislead the American people? The short answer is that he wants to give handouts to his billionaire buddies in the fossil fuel industry,” Durbin said.  “Before Elon Musk showed up with his multi-billion-dollar fortune, it was reported that then-candidate Donald Trump invited fossil fuel executives to Mar-a-Lago to ask for – hold on to your seats – a one-billion-dollar campaign contribution.”  
    “Now that President Trump is in office, he is doing everything he can to keep those billionaires happy.  That means tax cuts for the ultra-wealthy, which is on its way I’m afraid, opening up federal lands and waters for drilling, and yes, declaring this phony energy emergency,” Durbin said.
    While President Trump falsely asserts that his declaration will support U.S. energy production, he failed to include any provisions to support fossil fuels’ cleanest competitors—wind and solar power.  As wind and solar power are the cheapest energy to produce, consumers who use this power, in turn, see a reduction in their energy costs. 
    In fact, President Trump’s so-called “energy emergency” could raise a family’s annual energy bills by up to 12 percent or around $500 a year.  In addition to costing Americans hundreds of dollars, the phony “energy emergency” could cost the country the 400,000 new jobs that Democrat-led investments have spurred since August 2022.
    “Wind and solar power is the cheapest energy in the world.  And those cheap prices get passed on to families…  I know personally.  A few years ago, my wife and I made the decision to install solar panels on the roof of our home.  Our home project gave union workers in my community a good-paying job, and it was just one project contributing to the hundreds of thousands of jobs created under the Biden Administration,” said Durbin. 
    “Since Democrats’ Inflation Reduction Act was enacted two and a half years ago, more than one and a half million Americans have installed solar panels,” Durbin said.  “Every one of those installations also helped to create good-paying jobs for electricians, carpenters, and other workers, and supplying those panels created thousands of new jobs at factories around the country.  But President Trump was not impressed.  He wants to eliminate those jobs.”
    President Trump’s fabricated national emergency also jeopardizes the U.S.’ energy independence.  Earlier this month, the American solar industry reported that, for the first time ever, it had the capacity to meet the demand for all solar in the U.S.  Historically, China has dominated solar manufacturing by controlling at least 80 percent of the global market; however, the country was leading the sector by circumventing tariffs and using forced labor to produce solar panels.  Rather than invest in American-made clean energy and American jobs, President Trump is turning toward Big Oil billionaires and allowing China to overtake the U.S.’ energy sector.
    Durbin concluded his remarks by urging his colleagues, on both sides of the aisle, to stand up for American-made clean energy, American jobs, and American energy independence by voting to end President Trump’s fictional energy emergency.
    “We have an opportunity to undo the harms of one of President Trump’s many lies today…  We need to raise up American workers, lower utility bills, and put our country back on track to lead the world in clean energy.  I urge my colleagues to support the Kaine measure,” Durbin said.
    Video of Durbin’s remarks on the Senate floor is available here.
    Audio of Durbin’s remarks on the Senate floor is available here.
    Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.
    -30-

    MIL OSI USA News

  • MIL-OSI China: Trump says to impose 25 pct tariffs on EU cars, other products

    Source: China State Council Information Office

    U.S. President Donald Trump said on Wednesday that his administration has made a decision to impose 25 percent tariffs on products from the European Union (EU), including cars.

    “We have made a decision. We’ll be announcing it very soon, and it’ll be 25 percent generally speaking, and that’ll be on cars and all other things,” Trump told reporters at a White House cabinet meeting.

    U.S. President Donald Trump returns to the White House via Marine One in Washington, D.C., the United States, Feb. 22, 2025. (Xinhua/Hu Yousong)

    Trump claimed that the European Union has “taken advantage of” the United States. “They don’t accept our cars, they don’t accept, essentially, our farm products. They use all sorts of reasons why not. And we accept everything of them, and we have about a 300 billion dollar deficit with the European Union,” he said.

    Politico previously reported that the 300-billion-U.S.-dollar deficit is overstated. “In 2023, the U.S. goods trade deficit with the bloc was 155.8 billion euros, according to EU data. In services, however, the U.S. had a surplus of 104 billion euros, bringing the overall trade balance to 51.8 billion euros (roughly 56 billion U.S. dollars),” according the report.

    When asked by a reporter whether he would continue to delay tariffs on Mexico and Canada due to progress on border control, Trump said he would not prevent the tariffs from taking effect and claimed that the influx of fentanyl had caused “millions of deaths.”

    “I’m not stopping the tariffs. No,” Trump said.

    U.S. Secretary of Commerce Howard Lutnick explained two key deadlines related to the tariffs. Previously, the tariffs on Mexico and Canada had been delayed for one month and is set to take effect on March 4, and the two countries needed to prove to the president before the deadline that they had taken satisfactory actions in controlling the entry of fentanyl. Trump said that “it will be hard to satisfy.”

    Lutnick also noted that the overall tariff actions against more countries would be implemented on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products. On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations.

    On Monday, Trump said that tariffs on Mexico and Canada will “go forward.”

    MIL OSI China News

  • MIL-OSI USA: Crapo Votes to Confirm USTR Nominee

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–Today, the U.S. Senate confirmed Jamieson Greer to be United States Trade Representative (USTR) by a bipartisan vote of 56-43.  In remarks delivered on the Floor, U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) called on his Senate colleagues to support the nomination, highlighting Mr. Greer’s extensive trade experience and commitment to advancing a robust trade agenda that prioritizes American farmers, ranchers, workers and businesses. 

    As delivered:
    “I rise today to urge my colleagues to vote in favor of the confirmation of Mr. Jamieson Greer, who is nominated to serve as the United States Trade Representative.
    “I think I ought to set a couple of facts straight about President Trump’s utilization of the various policies when he was President the first time. 
    “It was said that wages went down, prices went up and people were going to face terrible, dire consequences if he’s able to follow his trade policies again in this term.
    “The reality is that under President Trump, wages went up, jobs went up, unemployment went down, benefits went up, the economy grew dramatically and we had the strongest economy in our lifetimes because of the policies President Trump pursued.
    “So I don’t think people should let these politics of fear saying that everything President Trump does is going to hurt people convince them otherwise.
    “The Office of the U.S. Trade Representative, created in 1962 by Congress, develops and coordinates U.S. international trade policy and oversees trade negotiations with other countries.
    “The U.S. Trade Representative—the role for which Mr. Greer is nominated—historically and statutorily serves as the United States’ principal advisor, negotiator and spokesperson on trade issues.
    “Mr. Greer is well-suited for these roles as demonstrated during his previous tenure as USTR Chief of Staff when he worked with both sides of the aisle in negotiating and securing congressional approval of the United States-Mexico-Canada Agreement, which passed the Senate 89-10. 
    “Throughout the nomination process, Mr. Greer demonstrated his strong commitment to work with Congress in a bipartisan fashion to advance the interests of our farmers, ranchers, fishers and workers.
    “In particular, I applaud Mr. Greer’s commitment to open markets for our farmers and manufacturers by negotiating new agreements and enforcing existing ones. 
    “I fully welcome a return to a USTR that performs its statutory obligation of creating new opportunities for Americans.  And I look forward to USTR’s forthcoming reviews of foreign trade barriers that stymie U.S. investment and exports.
    “I urge my colleagues to join me, now, to advance Mr. Greer’s nomination.
    “It is critical to have a USTR at the helm of these investigations and to support the Administration’s return to an active and robust trade agenda that prioritizes American farmers, ranchers, workers and businesses.”

    MIL OSI USA News

  • MIL-OSI USA: Spokane Police Chief Joins Cantwell for Hearing on Fentanyl Trafficking on U.S. Transportation Networks

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    02.26.25

    Spokane Police Chief Joins Cantwell for Hearing on Fentanyl Trafficking on U.S. Transportation Networks

    Cantwell bill to help law enforcement detect more fentanyl traffickers has been endorsed by Seattle, King Co., Vancouver, Spokane, and Spokane Co. Police Departments; SPD Chief: “Any tool will help us down this road, whether it’s x-ray technology, vapor technology [or] canine technology”

    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell, ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, invited Spokane Chief of Police Kevin Hall to participate in a Commerce Committee hearing titled, “Interdicting Illicit Drug Trafficking: A View from the Front Lines.”

    During the hearing, Sen. Cantwell discussed how her legislation, the Stop Smuggling Illicit Synthetic Drugs on U.S. Transportation Networks Act, could boost law enforcement’s ability to detect fentanyl being smuggled via commercial aircraft, railroads, vehicles, and ships.

    In his opening remarks, Spokane Police Chief Kevin Hall explained how cartels utilize U.S. transportation networks to traffic fentanyl across state lines: “Recent seizures highlight the scale of trafficking along transportation routes,” said Chief Hall. “[The] Spokane supply chain follows similar patterns, moving drugs from Mexico along interstates, I-19, I-10 and I-5, before reaching Eastern Washington via I-90. Spokane officers have recently encountered bulk powder fentanyl, an emerging and highly dangerous trend.”  

    “The supply chain is clear: the Chinese Triad sells precursor chemicals to Mexican drug cartels, hidden on ships and in air cargoes, and cartels make fentanyl and smuggle it through the United States,” said Sen. Cantwell. “They hide fentanyl and personal vehicles, commercial trucks, buses, trains, planes and even on unmanned aerial vehicles. So, this is a danger to our national security and our transportation security. It is very highly toxic.

    During the hearing, Chief Hall – who previously served 32 years for the Tucson Police Department, about an hour’s drive from the Southern border — described the elaborate methods used by cartels to smuggle fentanyl pills into the country: “The investment by the cartels — and make no mistake, this is all cartel driven — is such that they will completely disassemble a vehicle, a brand new vehicle, put as much narcotics into every single void inside that vehicle, and then assemble it again. They will go through that amount of energy, put the vehicle back together, and put it on the road and it’s off on the freeways.”

    That was the case in a pair of busts led by the Tucson Police Department in October and November of 2024, when 1.7 million pills were discovered stashed away in vehicles just north of the border: “Two nondescript sedans that had to be completely disassembled in order to recover all of those narcotics,” Chief Hall said.

    “This is why I want us to have a more collaborative effort here. . . . they’re tearing cars apart, and so, what do you think a new vapor technology could help us do?” Sen. Cantwell asked.

    “Any tool will help us down this road, whether it’s x-ray technology, vapor technology, even going to like, I call old school, canine technology. They’re all very effective in different ways,” said Chief Hall.

    In September 2024, Sen. Cantwell introduced the Stop Smuggling Illicit Synthetic Drugs on U.S. Transportation Networks Act. This bill would create first-ever inspection strategies to stop drug smuggling by commercial aircraft, railroads, vehicles, and ships. The legislation would boost local, state, federal, and tribal law enforcement resources, increase inspections at ports of entry, and deploy next generation non-intrusive detection technologies – similar to handheld security wands that can detect traces of illicit substances in vehicles or on persons during inspections.

    Sen. Cantwell held a press conference with Spokane Police Chief Hall and Spokane County Sheriff John Nowels on this legislation at Spokane Fire Station 1 this past October. Photos from that press conference are available HERE.

    Sen. Cantwell’s bill aims to support law enforcement in stemming the flow of fentanyl into our communities. The bill would supply more resources to carry out actions like the major bust at SeaTac Airport and the University District neighborhood completed by the Seattle office of Homeland Security Investigations (HSI) last fall, or the bust led by the Drug Enforcement Administration, Bureau of Indian Affairs, and others that prevented more than 100 pounds of illegal drugs from being trafficked across the Confederated Tribes of the Colville Reservation in April 2023.

    At today’s hearing, Chair Ted Cruz (R-TX) committed to working with Sen. Cantwell on legislation to stop illicit fentanyl smuggling in the United States.

    “Intercepting illicit drugs like fentanyl at airports is challenging, but we’re grateful to be working with partners at all levels to combat drugs being imported into our communities,” said Port of Seattle Commission President Toshiko Hasegawa. “Many of these drugs are in checked bags and go through a screening process, but the struggle lies in bridging the gap between technology and legal restrictions. The POSPD drug interdiction unit, alongside our drug detection canines, are successfully seizing large quantities of fentanyl pills and other substances and remain committed to making our communities and the airport safer.”

    Sen. Cantwell has pursued multiple paths to addressing the fentanyl crisis, including holding a statewide listening tour to hear directly from people on the front lines of the fentanyl crisis; urging committees of jurisdiction to convene hearings and consider legislative solutions; voting for new laws to provide funding and tools to confront the crisis; and securing funding specifically for Washington state to respond to the crisis.

    Among other measures to fight fentanyl trafficking, last year Sen. Cantwell voted for $1.69 billion in new federal funding to combat fentanyl and other illicit drugs coming into the United States, including an additional $385.2 million to increase security at U.S. ports of entry, with the goal of catching more illegal drugs like fentanyl before they make it across the border.  That funding included critical resources for Non-Intrusive Inspection (NII) technology at land and seaports of entries. NII technologies—like large-scale X-ray and Gamma ray imaging systems, as well as a variety of portable and handheld technologies—allow U.S. Customs and Border Protection to help detect and prevent contraband from being smuggled into the country without disrupting flow at the border. 

    A background document on Sen. Cantwell’s legislative track record and advocacy to combat the fentanyl crisis is available HERE.

    Video of Chief Hall’s full opening remarks is HERE and a transcript is HERE. Video of Sen. Cantwell’s opening remarks is HERE; video of their Q&A is HERE; and a transcript is HERE.

    MIL OSI USA News

  • MIL-OSI USA News: Remarks by President Trump Before Cabinet Meeting

    Source: The White House

    class=”has-text-align-center”>Cabinet Room

    11:42 A.M. EST

         THE PRESIDENT:  Okay.  Thank you very much.  We appreciate you being here.  And we’ve put together a great Cabinet.  And we’ve had tremendous success.  We’ve been given a lot of credit for having a very successful first month, and we want to make that many months — and years, actually.  But we’re going to have many good months, and we’re going to have many good years, I hope.  And we’re going to solve a lot of problems. 

         We’re doing very well with Russia-Ukraine.  President Zelenskyy is going to be coming on Friday.  It’s now confirmed.  And we’re going to be signing an agreement, which will be a very big agreement.  And I want to thank Howard and Scott for the job you guys did in putting it together.  Really did an amazing job.  And that’ll be on rare earth and other things. 

         And as you know, we’re in for, probably, $350 billion and Europe is in for $100 billion.  And that’s a big difference.  So, we’re in for, probably, three times as much.  And yet, it’s very important to everybody, but Europe is very close.  We have a big ocean separating us.  So, it’s very important for Europe.  And they, hopefully, will step up and do maybe more than they’re doing and maybe a lot more.

         The previous administration put us in a very bad position, but we’ve been able to make a deal where we’re going to get our money back and we’re going to get a lot of money in the future.  And I think that’s appropriate, because we have taxpayers that are — shouldn’t be footing the bill, and they shouldn’t be footing the bill at more than the Europeans are paying. 

         So, it’s all been worked out.  We’re happy about it.  And I think that, very importantly, we’re going to be able to make a deal. 

         Most importantly, by far, we’re going to make a deal with Russia and Ukraine to stop killing people.  They’ll stop killing young Russian soldiers and young Ukrainian soldiers and other people, in addition, in the towns and cities.  And we will consider that a very important thing and a big accomplishment, because it was going nowhere until this administration came in.  They hadn’t spoken to President Putin in two years.  And so, we’ll keep you advised.

         Before we begin the Cabinet, I’d like to have Scott

    and a couple of people say a few things.  But most importantly — where are you?

         SECRETARY TURNER:  I’m right here, sir.

         THE PRESIDENT:  This is a gentleman who’s going places — the head of HUD.  And he’s going to say — you all know him.  And you’re going to say grace —

         SECRETARY TURNER:  Yes, sir.

         THE PRESIDENT:  — and then we’ll have our meeting, right?

    SECRETARY TURNER:  Yes.

         THE PRESIDENT:  Thank you very much. 

         SECRETARY TURNER:  Thank you, Mr. President.  Let’s pray.

         Father, we thank you for this awesome privilege, Father, to be in your presence.  God, thank you that you’ve allowed us to see this day.  The Bible says that your mercies are new every morning.  And, Father God, we give you the glory and the honor.  Thank you, God, for President Trump, Father, for appointing us.  Father God, thank you for anointing us to do this job.  Father, we pray you’ll give the president and the vice president wisdom, Father God, as they lead. 

         Father, I pray for all of my colleagues that are here around the table and in this room.  Lord God, we pray that we would lead with a righteous clarity, Father God, and as we serve the people of this country and every perspective agency, every job that we have, Father, we would humble ourselves before you that we would lead in a manner that you’ve called us to lead and to serve. 

         Father, the Bible says the blessed is the nation whose God is the Lord.  But, Father, we today honor you.  And in your rightful place, Father, thank you for giving us this opportunity to restore faith in this country and be a blessing to the people of America.  And, Lord God, today in our meeting, we pray that you will be glorified in our conversation.
        
         In Jesus’ name, amen.

         PARTICIPANTS:  Amen.

         THE PRESIDENT:  Scott, that was a very good job you did.  You’ve done that before, haven’t you?  (Laughter.)  Wow. 

         So, Scott Turner is a terrific young guy.  He’s heading up HUD, and he’s going to make us all very proud, right?

         SECRETARY TURNER:  Thank you, Mr. President.  Yes, sir.

         THE PRESIDENT:  Thank you very much.  Great job. 

         In just over one month, illegal border crossings have plummeted by numbers that nobody has actually ever seen before.  It’s much more than 100 percent. 

    And we’ve unleashed American energy at levels that will soon be reported, but we think we’re going to get it going very quickly.  We have incredible people on the energy front. 

    I think we have really great people on every front.  I’ll let you know if they’re not good, but I think they really are. 

    And we’re fighting every day to get the prices down.  The inflation is stopping slowly, but part of the reason it’s stopping is because of high interest rates and other problems that we inherited.  But we have to get the prices down — not the inflation down — the prices of eggs and various other things.  Eggs are a disaster. 

         The secretary of Agriculture is going to be showing you a chart that’s actually mindboggling what’s happened — how low they were with us and how high they are now.  But I think we can do something about it —

         SECRETARY ROLLINS:  Yes, sir.

         THE PRESIDENT:  — Madam Secretary.

         SECRETARY ROLLINS:  Yes, sir.

         THE PRESIDENT:  And I think you’re going to do a fantastic job in that position. 

    One of the most important initiatives is DOGE, and we have cut billions and billions and billions of dollars.  We’re looking to get it maybe to a trillion dollars.  If we can do that, we’re going to start getting to be at a point where we can think in terms of balancing budgets, believe it or not, something you haven’t heard in many, many years — decades, actually.  And it’s a big — whether it’s this year or next year, I think we’ll be very close to balancing budgets.  And the DOGE is very important. 

    And Elon is here to give you a summary of what’s happening, some of the things they found — some of the horrible things they found — some of the theft and fraud, and we call it waste and abuse, but a lot of fraud, and probably some fraud that we’re not going to be able to prove is fraud, but when you hear the names and the places where this money is going, it’s a disgrace. 

         But we’ve requested that a lot of people — we want to make sure that the people are working.  So, letters were sent out, and I think everyone at this table is very much behind it.  And if they aren’t, I’d want them to speak up.  But they’re very much behind it. 

         Letters were sent out to people just to find out, if the people exist, do they work?  Who do they work for?  Where are they?  You know, where have they been working?  Have they been working for other companies or other entities at all and being paid by the government, so they have two jobs, but they’re supposed to have one? 

    And the letter asks some simple questions like, “What have you done lately?”  And if they can answer that — because I can.  I can tell you everything I’ve done for the last long period of time — a lot more than a week. 

    And in many cases, we haven’t gotten responses.  Usually that means that maybe that person doesn’t exist or that person doesn’t want to say they’re working for another company while being paid by the United States government. 

    So, there’s a lot of interesting things.  It’s very unique, but we have a very unique situation because we have a lot of people that were scamming our country.  We have a lot of dishonest people.  We have a lot of people that took advantage of a lot of different situations, and we’re not going to let that happen. 

    So, I’m going to ask, if it’s possible, to have Elon get up first and talk about DOGE, because it seems to be of great interest to everyone. 

    I will say that there is a large group of people in this country that have such admiration for what we’re doing.  I got elected with a tremendous vote — winning every swing state, winning the popular vote, winning the counties by thousands of counties.  I think it was 2,800 to 500.  2,800 counties to 500 counties.  Think of that. 

    And so, we have a mandate to do this, and this is part of the reason I got elected.  I got elected based on taxes and based on many things, the border, but also based on balancing budgets and getting our country back into shape, and this is a big part of it. 

    So, Elon, if you could get up and explain where you are, how you’re doing, and how much we’re cutting.  And it’s an honor to have you.  He’s been a tremendously successful guy.  He’s really working so hard.  And he’s got businesses to run.  And in many ways, they say, “How do you do this?”  And, you know, he’s sacrificing a lot and — getting a lot of praise, I’ll tell you, but he’s also getting hit.  And we would expect that, and that’s the way it works. 

    So, I’d like to have Elon Musk please say a few words.

         MR. MUSK:  Well, tha- — thank you —
        
         THE PRESIDENT:  Thank you, Elon.

    MR. MUSK:  Thank you, Mr. President.  Well, I a- — I actually just call myself humble tech support here — (laughter) — because this is actually — as crazy as it sounds, that — that is almost a literal description of the work that the DOGE team is doing is helping fix the government computer systems.  Many of these systems are extremely old.  They don’t communicate.  There are a lot of mistakes in the systems.  The software doesn’t work.  The — so, we are actually tech support.  It’s — it’s a — it’s ironic, but it’s true.

    The — the overall goal here with the DOGE team is to help address the enormous deficit.  We simply cannot sustain, as a country, $2 trillion deficits.  The interest rates — just the interest on the national debt now exceeds the Defense Department spending. 

    We spend a lot on the Defense Department, but we’re spending, like, over a trillion dollars on interest.  If this continues, the country will go — become de facto bankrupt.  It’s — it’s not an optional thing.  It is an essential thing.  That — that’s — that’s the reason I’m here and taking a lot of flak and getting a lot of death threats, by the way.  I can, like, stack them up, you know.

    But if we don’t do this, America will go bankrupt.  That’s why it has to be done.  And I’m confident, at this point — knock on wood, you know — knock on my wooden head — (laughter) — the — there’s a lot of wood up there — that we can actually find a trillion dollars in savings.  That would be roughly 15 percent of the $7 trillion budget.

    And obviously, that can only be done with the support of everyone in this room.  And I’d like to thank everyone for — for your support.  Thank you very much this.  This — this can only be done with — with your support.

    So, this is — it’s really — DOGE is a support function for the president and for the — the agencies and departments to help achieve those savings and to effect- — effectively find 15 percent in reduction in fraud and — and waste.

    And — and we bring the receipts.  So, people say, like, “Well, is this real?”  Just go to DOGE.gov.  We l- — we — line item by line item, we specify each item.  So — and w- — and I — I should say, we — also, we will make mistakes.  We won’t be perfect.  But when we make mistake, we’ll fix it very quickly. 

    So, for example, with USAID, one of the things we accidentally canceled, very briefly, was Ebola — Ebola prevention.  I think we all wanted Ebola prevention.  So, we restored the Ebola prevention immediately, and there was no interruption.

    But we do need to move quickly if we’re — if we’re to achieve a trillion-dollar deficit reduction in tw- — in — in financial year 2026.  It requires saving $4 billion per day, every day from now through the end of September.  But we can do it, and we will do it.

    Thank you. 

    THE PRESIDENT:  Well, do you have any questions of Elon while we’re on the subject of DOGE?  Because we’ll finish off with that.  And if you would have any questions, please ask — you could ask me or Elon.

    Go ahead, please. 

    Q    Thank you, Mr. President.  Thank you, Mr. Musk.  I just wanted to ask you, the — President Trump put out a Truth Social today saying that everybody in the Cabinet was — was happy with you.  I just wondered if that — if you had heard otherwise, and if you had heard anything about members of the Cabinet who weren’t happy with the way things were going.  And if so, what are you doing to address those — any dissatisfaction?

    MR. MUSK:  To the best of —

    THE PRESIDENT:  Hey, Elon, let the Cabinet speak just for a second.  (Laughter.) 

         Is anybody unhappy with Elon?  If you are, we’ll throw them out of here.  (Laughter.)  Is anybody unhappy?  (Applause.)

    They are — they have a lot of respect for Elon and that he’s doing this.  And some disagree a little bit, but I will tell you, for the most part, I think everyone is not only happy, they’re thrilled. 

    So, go ahead, Elon.

    SECRETARY ROLLINS:  And grateful.

    MR. MUSK:  And President Trump has put together, I think, the best cabinet ever, literally.  So, I — and I do not give false praise.  This — this is an incredible group of people.  I don’t think such a talented team has actually ever been assembled.  I think it’s literally the best cabinet that the country has ever had.  And I think the companies should be incredibly appreciative of the people in this room.

    Q    Mr. President —

    THE PRESIDENT:  Please.  Yeah.  Go ahead.

    Q    Mr. President, thank you.  Mr. Musk.  Are there — about half of the government employees so far appear to have responded to your request for what they’ve been doing over the past week.  Is there a timeline in place for next moves for people being fired?  And when can the American people expect to see results from that?

    MR. MUSK:  Yes.  Well, to be — to be clear, like, the — I think that email, perhaps, was misinterpreted as a performance review, but actually it was a pulse check review.  “Do you have a pulse?”  (Laughter.)  “Do you have a pulse and two neurons?”  (Laughter.)  So, if you have a pulse and two neurons, you can reply to an email.

    This is, you know, I think, not a high bar, is what I’m saying.  This is a — should be — anyone could accomplish this. 

    But what we are trying to get to the bottom of is we think there are a number of people on the government payroll who are dead, which is probably why they can’t respond, and — and some people who are not real people, like they’re literally fictional individuals that are collecting payche- — well, somebody is collecting paychecks on a fictional individual.  So, we’re just literally trying to figure out are these people real, are they alive, and can they write an email, which I think is a reasonable expectation for the Amer- — you know, the American public would have at least that expectation of someone in the public sector.

    Q    Mr. Musk —

    Q    Mr. Musk —

    Q    — roughly a million employees —

    MR. MUSK:  (Laughs.)  This is not a — this is not a high bar, guys.  Come on.  (Laughter.)

    Q    Roughly a million employees have responded so far to this email.  Does that mean that the remaining 1 million or so federal employees now risk being terminated?  And is it your understanding and expectation when you post a directive on X that the Cabinet secretaries will follow that order?  Because several agencies have instructed employees that this is voluntary or not to respond.

    MR. MUSK:  Yeah.  Well, I mean, to be cl — so, I guess there was a — like, last week, the president en- — encouraged me, via Truth Social and also via phone call, to be more aggressive.  And I was like, “Okay.”  You know, “Yes, sir, Mr. President.  We will indeed do that.”  The president is the commander in chief.  I — I do what the president asks.

    So — and I said, “Can we send out an email to everyone, just saying, ‘What did you get done last week?’”  The president said yes.  So, I — I did that. 

    And, you know, we — we got a partial response.  But we — we’re going to send another email.  But we — our — our goal is not to be capricious or — or unfair.  It’s — we want to give people every opportunity to send an email and the email could simply be “What I’m working on is too sensitive or classified to — to describe.”  Like, literally, just re- — that would be sufficient.  We’re — we’re — you know, I think this is just common sense. 

    Q    And what is your target number for — for how many workers, employees you’re looking to cut total?

    MR. MUSK:  We — we wish to keep everyone who is doing a job that is essential and doing that job well.  But if — if they’re — if the job is not essential or they’re not doing the job well, they obviously should not be on the public payroll. 

    (Cross-talk.)

    THE PRESIDENT:  No, I have to — I would like to add —

    (Cross-talk.)

    Wait a minute.  Wait.  Wait.  I’d like to add that those million people that haven’t responded, though, Elon, they are on the bubble.  You know, I wouldn’t say that we’re thrilled about it.  You know, they haven’t responded.  Now, maybe they don’t exist.  Maybe we’re paying people that don’t exist.

    Don’t forget, we just got here.  This group just got here.  But those people are on the bubble, as they say.  You know, maybe they’re going to be gone.  Maybe they’re not around.  Maybe they have other jobs.  Maybe they moved and they’re not where they’re supposed to be.  A lot of things could have happened.

    I wouldn’t say that Biden ran a very tight administration.  They spent money like nobody has ever spent money before, wasted money — the Green New Scam, all of the different things they spent money on. 

    And you’ve seen that.  You’ve seen that with some of the things that I read in speeches.  I read them, and people can’t believe, when I read them, $20 million here, $30 million here for, you know, a little educational course on something.  Circumcision, right?  Circumcision.  $20 million to inform the people of such-and-such a country on other things and other things other than that.

    So, yeah, those people are — right now, we’re trying to find out who those people are that haven’t responded.  Now, there’ll be some agencies — like Marco has people within State that are right now doing very classified, very confidential work.  And we understand that, and we’ve talked.  And, you know, we’re being a little more surgical. 

    And Marco is doing a lot of things himself.  He’s — and some of the secretaries are.  We’re going to be going to them.  We’re going to be talking about it today.  We’re going to ask them to do their own DOGE.  In other words, they’ll look in their group and who —

    I spoke with Lee Zeldin, and he thinks he’s going to be cutting 65 or so percent of the people from Environmental, and we’re going to speed up the process, too, at the same time.  He had a lot of people that weren’t doing their job — they were just obstructionists — and a lot of people that didn’t exist, I guess, Lee, too.  You found a lot of empty spots that the people weren’t there.  They didn’t exist.

    And I think Education is going to be one of those.  You go around Washington, you see all these buildings — the Department of Education.  We want to move education back to the states, where it belongs.  Iowa should have education.  Indiana should run their own education.  You’re going to see education go way up.

    Right now, we’re ranked at the very bottom of the list, but we’re at the top of the list in one thing: the cost per pupil.  We spend more money per pupil than any other country in the world, and yet it’s Denmark and Norway, Sweden.  And I — you hate to say this — and, you know, we’re going to get along very well with China, but it’s a competitor: They’re at the top of the list.  They’re among the top 10, usually.  And they’re a very big country, so we can’t use that as an excuse — right? — because we’re a very big country too.

    But we’re – we were ranked last time — under Biden, we were ranked 40 out of 40.  They do the 40 certain nations that they’ve done for a long time.  It seems to be 40, for whatever reason.  And we were ranked number 40.  A year ago, we were 38.  Then we were 39.  We’re — we hit 40.  And so, we’re last in that, and we’re first in cost per pupil.  So, I would say that’s unacceptable.

    Lawrence, do you have something?  Go ahead.

    Q    So, Mr. President, I know you like competition, and I know it’s early.  So, which department are you most impressed with? 

    And then, to Mr. Mu- — (laughter).  That’s the first one.  And, Mr. Musk, which department have you received the most resistance from? 

         Mr. President, you first.

    THE PRESIDENT:  Well, I think both of those questions are a little bit — well, you’re a pretty controversial guy.  (Laughter.)  Look, it’s very early.  Right now, I think I’m impressed with everybody.  So far, everybody.  If I wasn’t, in the first month, we’d — and some of them just got here.  They just got approved two days ago, right?

    But I think I’m very impressed with everybody.  So far, I’m very happy with all of the choices.

    I think that Elon has done incredibly with some groups.  And some groups are much easier than others.  It is true: State is a, you know, very difficult situation.  We’re right now negotiating very successfully, I think, with Russia and with Ukraine, and we have a lot of countries involved.  And we have to be a little bit careful what we do and who we’re terminating.  But Marco is doing that very — I think he’s going to be very precise.  It’s going to be —

    We’re cutting down government.  We’re cutting down the size of government.  We have to.  We’re bloated.  We’re sloppy.  We have a lot of people that aren’t doing their job.  We have a lot of people that don’t exist. 

         You look at Social Security as an example.  I mean, you have so many people in Social Security where, if you believe it, they’re 200 years old.  And what we’re doing is finding out: Are checks going out for that and is somebody cashing those checks who’s maybe 35 years old?  Okay? 

         So, there’s a lot of dishonesty.  There’s a lot of fraud. 

         But I think at this moment, I’ll take Elon off the spot.  I think that he’s impressed — he said it very well –better than I can say it — that he’s impressed with the people in this room.  Very impressed.  And I am too.  And it’s too early to say, but I think everybody is on board.  They all know — we want to balance a budget.  We want to have a balanced budget within a reasonably short period of time, meaning maybe by next year or the year after, but maybe — maybe even sooner than that. 

         Q    Mr. President, your — your number one issue was the border.  We just got new information that they’re doxing our federal agents.  They’re putting their personal information out there, these activists, and they’re disrupting the operations.  So, you got Tren de Aragua running all across the country —

         THE PRESIDENT:  Well, we have activists.  That’s true.  And a lot of those —

         Q    So, what are we going to do about the activists —

         THE PRESIDENT:  Yeah.  A lot of those activists are acting illegally.  And we’ll give that to our attorney general, and she’ll take a look at that very strongly.  But we’re also having tremendous support from Border Patrol, from ICE.  The ICE agents have been unbelievable.  Border Patrol — their leadership at Border Patrol has been incredible, and they’re working very well. 

         And, as you know — and I saw you reporting it this morning, actually — we set records on the least number of illegal aliens coming in, migrants coming into our country that we’ve had in more than 50 years.  And we did this all within a period of weeks, because we took over a mess.  The world was pouring in.  And remember, they were coming in from jails and prisons and mental institutions and insane asylums, and they were gang members and drug dealers.  Anybody who wanted to come in, they came.  And from not just South America, from all over the world.  So, it’s amazing what they’ve done. 

         And Kristi and — and Tom Homan, the job they’ve done has been absolutely amazing.  We set records for — and we want people to come into our country, by the way, but they want to come in — they have to come in legally. 

         I want that to be really understood.  We want people in our country, but they have to come in legally. 

         Q    Can I follow on that, Mr. President?

    Q    Mr. President.

    Q    About the — the Trump gold card idea —

         THE PRESIDENT:  Yeah.

         Q    — that you unveiled yesterday.

         THE PRESIDENT:  I hope you liked it.  (Laughter.)

         Q    I await more information.  But the question is: Does this reflect a view, on your part, that the American immigration system has never been properly monetized as you feel it should be?
        

         THE PRESIDENT:  Well, not so much monetized.  It hasn’t been properly run.  I get calls from, as an example, companies where they want to hire the number one student at a school.  A person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton School of Finance.  They go to Yale.  They go to all great schools.  And they graduate number one in their class, and they are made job offers, but the offer is immediately rescinded because you have no idea whether or not that person can stay in the country.  I want to be able to have that person stay in the country. 

         These companies can go and buy a gold card, and they can use it as a matter of recruitment. 

         At the same time, the company is using that money to pay down debt.  We’re going to — we’re going to pay down a lot of debt with that.

         Q    Are they going to have to —

         THE PRESIDENT:  And I think the gold card is going to be used by — not only for that.  I mean, they’ll be used by companies.  I mean, I could see Apple — I’ve spoken with Tim Cook — and, by the way, he’s going to make a $500 billion investment in the country only because of the results of the election and, I think, because of tariffs.  He’s going to want to be in the country because of tariffs.  Because if you’re in the country, there is no tariff.  If you’re out of the country, you got to pay tariffs.  And that’s going to be a great investment, I think, that he’s making.  I know it’s going to be a great investment. 

         But we have to be able to get people in the country, and we want people that are productive people.  And I will tell you, the people that can pay $5 million, they’re going to create jobs.  They’re going to spend a lot of money on jobs.  They’re going to have to pay taxes on that too.  So, they’re going to be hiring people, they’re going to be bringing people in and companies in.  And, I don’t know, maybe it will sell like crazy.  I happen to think it’s going to sell like crazy.  It’s a bargain.

         But we’ll —

         Q    Will they have to commit to a certain number?

         THE PRESIDENT:  — know fairly soon.  I think Howard and — and Scott — a few of you, really, are responsible for it.  But, Howard, if you want to discuss that for a couple of minutes, I think I’d like to have you.  I think it’s going to be a very successful program.

         SECRETARY LUTNICK:  Sure.

         THE PRESIDENT:  This is Commerce.

         SECRETARY LUTNICK:  So, the EB-5 program, which has been around for many years, had investment of a million dollars into projects in America.  And those projects were often suspect, they didn’t really work out, there wasn’t any oversight of it.  And so, for a million-dollar investment, you got a visa, and then you came into the country and ended up with a green card. 

         So, it was poorly overseen, poorly executed.  Then you had our border open, where millions of people came through. 

         So, the idea is we will have a proper business.  We will modify the EB-5 agreement.  Kristi and I are working on it together.  For $5 million, they’ll get a license from the Department of Commerce.  Then they’ll make a proper investment on the EB-5, right?  And we think Scott and I will design the EB-5 investment model, because Scott and I are the best people together to do that.  So, this is joint. 

         This is exactly the Trump administration.  We all work together.  We work it out to be the best.  And if we sell — just remember — 200,000 — there’s a line for EB-5 of 250,000 right now — 200,000 of these gold green cards is $1 trillion

    to pay down our debt, and that’s why the president is doing it, because we are going to balance this budget, and we are going to pay off the debt under President Trump. 

         Q    Mr. —

    Q    And to qualify, do you have to promise and make commitments to create a certain number of jobs here in the U.S.?

         THE PRESIDENT:  No.  No.  Because not all these people are going to be job builders.  They’ll be successful people, or they’ll be people that were hired from colleges, like — sort of like paying an athlete a bonus.  I mean, Apple or one of the companies will go out and they’ll spend five mil- — they’ll buy five of them, and they’re going to get five people. 

         Look, I’ve had the complaint where — I’ve had the complaint from a lot of companies where they go out to hire people, and they can’t hire them b- — out of colleges.  And you know what they do?  They go back to India, or they go back to the country where they came, and they open up a company, and they become billionaires.  They become — and they’re employing thousands and there are a lot of examples. 

    There are some really big examples where they were forced out of the country.  They graduated top in their class at a great school, and they weren’t able to stay.  This is all the time you hear it. 

    And the biggest complaint I get from companies, other than overregulation, which we took care of, but we’re going to have to take care of it here, because a lot of that was put back on by Biden.  But the biggest complaint is the fact that they can’t have any longevity with people.  This way, they have pretty much unlimited longevity. 

    Also, with the $5 million, you know, that’s a path to citizenship.  So, that’s going to be — it’s sort of a green card-plus, and it’s a path to citizenship.  We’re going to call it the gold card.  And I think it’s going to be very treasured.  I think it’s going to do very well.  And we’re going to start selling, hopefully, in about two weeks.

    Now, just so you understand, if we sell a million — right? — a million, that’s $5 trillion.  Five trillion.  Howard was using a different number, but that’s $5 trillion.  If we sell 10 million, which is possible — 10 million highly productive people coming in or people that we’re going to make productive — they’ll be young, but they’re talented, like a talented athlete — that’s $50 trillion. 

    That means our debt is totally paid off, and we have $15 trillion above that.  And — now, I don’t know that we’re going to sell that many.  Maybe we won’t so many at all.  But I think we’re going to sell a lot, because I think there’s — there really is a thirst. 

    No other country can do this, because people don’t want to go to other countries.  They want to come here.  Everybody wants to come here, especially since November 5th.  (Laughter.)

    (Cross-talk.)

    SECRETARY LUTNICK:  They’ll all be vetted, by the way.  All these people will be vetted. 

    Q    How?

    SECRETARY LUTNICK:  Okay?  They’ll be vetted.

    Q    Mr. President, on Ukraine.  Can you talk a lot — a little bit about what type of security guarantees you’re willing to make?

    THE PRESIDENT:  Well, I’m not going to make security guarantees beyond very much.  We’re going to have Europe do that, because it’s in — you know, we’re talking about Europe is their next-door neighbor.  But we’re going to make sure everything goes well. 

    And as you know, we’ll be making a — we’ll be really partnering with Ukraine in terms of rare earth.  We very much need rare earth.  They have great rare earth.  We’ll be working with Secretary Burgum and with Chris.  You’ll be working on that together. 

    And we’re going to be able to have tremendous — I mean, this gives us — because we don’t have that much of it here.  We have some, but we don’t have that much, and we need a lot more to really propel us to the next level of — to lead in every way.  We’re leading right now with AI.  We’re leading with everything right now, but we have to — we need resources. 

    We have to double our electric capacity.  We have to do many things.  We have to really triple, if you think of it, the electric capacity from what we have right now, if you can believe it.  (Laughter.) 

    Q    But will the United States — can I —

    THE PRESIDENT:  So, I just say this.  So, the deal we’re making gets us — it brings us great wealth.  We get back the money that we spent, and we hope that we’re going to be able to settle this up. 

    We want to settle it.  We want to stop — I tell you what.  I’m doing it for two reasons, but the number one reason, by far, is to watch — all these people being killed.  I see pictures every week from — I assume satellite pictures, mostly, but there’s some pictures on site of thousands of soldiers that are being killed.  They’re being decimated, because equipment today — military equipment is so powerful and so devastating.  And, number one, I want to see people stop. 

    And they’re not from here.  They’re from primarily two other countries. 

    And then, by the way, let’s talk about the Middle East.  We got to solve that problem too.  And that’s come a long way.  We’re doing very well in that also.  A lot of things are happening on that.  But I’m watching soldiers being killed — Ukrainian and Russian soldiers being killed.  My number one thing is to get that stopped. 

    My number two thing is I don’t want to have to pay any more money, because we’ve — Biden has spent $350 billion without any chance of getting it back.  Now we’re going to be getting all of that money back, plus a lot more.  And we provided a great thing.  I mean, we’ve provided something very important, and we’ll be working with Ukraine and — because we’ll be taking that — we’re going to be taking what we’re entitled to take. 

    Now, they spent $350 billion, and Europe spent $100 billion.  Now, does anybody really think that’s fair?  But then we find out, a little while ago — not so long ago, a few months ago, I found out that the money they spent, they get back, but the money we spent, we don’t get back.  I said, “Well, we’re going to get it back.” 

    And we’ll be able to make a deal.  And again, President Zelenskyy is coming to sign the deal.  And it’s a great thing.  It’s a great deal for Ukraine, too, because they get us over there, and we’re going to be working over there.  We’ll be on the land.  And, you know, in that way, it’s — there’s sort of automatic security, because nobody’s going to be messing around with our people when we’re there.  And so, we’ll be there in that way. 

    But Europe will be watching it very closely.  I know that UK has said and France has said that they want to put — they volunteered to put so-called peacekeepers on the site.  And I think that’s a good thing.

    (Cross-talk.)

    Q    Mr. President, you had mentioned the high cost of eggs, and we’ve seen consumer confidence this week have a sharp drop from last month — the biggest dip in, I believe, three years.  Why is that — your assessment, why is that the case and is there anything you can do? 

    THE PRESIDENT:  Well, I think that consumer confidence — if you look at confidence in the nation, it had the biggest increase in the history of the chart.  It went up 42 points in a period of, like, days after the election, since the election.  So, since the election, the confidence in our nation — including right track, wrong track — the first time it’s ever happened, where we were on the right track, because this country has been on the wrong track for a long time. 

    So, the confidence in business, confidence in the country has reached an all-time high.  We have never reached levels like we are right now.

    Okay.

    (Cross-talk.)

    Q    Mr. President, you said — Mr. President, you’ve been very clear in saying that as long as you’re president, Iran will never get a nuclear weapon. 

    THE PRESIDENT:  That’s true. 

    Q    Is it also your policy that as long as you’re president, China will never take Taiwan by force?

    THE PRESIDENT:  I never comment on that.  I don’t comment on any — because I don’t want to ever put myself in that position.  And if I said it, I certainly wouldn’t be saying it to you.  I’d be saying it to other people, maybe people around this table — (laughter) — and very specific people around this table.  

    Q    Is it a concern (inaudible)?

    THE PRESIDENT:  So, I don’t want to put myself in that position.  But I can tell you what, I have a great relationship with President Xi.  I’ve had a great relationship with him.  We want them to come in and invest. 

    I see so many things saying that we don’t want China in this country.  That’s not right.  We want them to invest in the United States.  That’s good.  That’s a lot of money coming in.  And we’ll invest in China.  We’ll do things with China. 

    The relationship we’ll have with China would be a very good one.  I see all of these phony reports that we don’t want their money; we don’t want anything to do with them.  That’s wrong. 

    We’re going to have a good relationship with China, but they won’t be able to take advantage of us.  What they did to Biden was — he didn’t know what was happening.  He didn’t know what he was doing.  The administration didn’t know what they were doing.  It was very sad to watch. 

         But we’re going to have a good relationship with China and Russia and Ukraine and the Middle East.  We’re doing things that —

    Look, when I left, we had no wars.  We had defeated ISIS totally.  We had no inflation.  We didn’t have the Afghanistan withdrawal — the worst withdrawal anybody has ever seen.  I think that’s one of the reasons that President Putin looked at that.  He said, “Wow, these guys are a paper tiger.  Look at” — we’re no paper tiger. 

    Don’t forget: We got rid of ISIS in three weeks.  People said it would take five years.  We did it, because when I came in, I let them do what they had to do.  And the man that headed that operation is now going to be your — your chairman, right?

    SECRETARY HEGSETH:  Yes, sir.

    THE PRESIDENT:  Chairman of the Joint Chiefs. 

    SECRETARY HEGSETH:  Yes, sir.

    THE PRESIDENT:  And — “Razin” Caine.  I liked him right from the beginning.  As soon as I heard his name, I said, “That’s my guy.” 

    Okay.  Any other questions?

    (Cross-talk.)

    Q    Mr. President, has there been enough de- — decreases in crossings at the border for you to continue the pause on tariffs against Mexico and Canada?  And, if not —

    THE PRESIDENT:  No, no.  I’m going to — I’m not stopping the tariffs, no.  Millions of people have died because of the fentanyl that comes over the border. 

    Q    Even with the 90 percent drop in border crossings, though, this —

    THE PRESIDENT:  Well, that’s — well —

    Q    — last month compared to about a year ago?

    THE PRESIDENT:  Yeah, they’ve been good, but that’s also due to us.  Mostly due to us.  I mean —

    Q    Mr. President —

         Q    Mr. President, on CBS — 

    THE PRESIDENT:  — it’s very hard.  It’s, right now, very hard to come through the border.  But the — look, the damage has been done.  We’ve lost millions of people due to fentanyl.  It comes mostly from China, but it comes through Mexico, and it comes through Canada. 

    Q    Mr. Presi- —

    THE PRESIDENT:  And I have to tell you that, you know, on April 2nd — I was going to do it on April 1st, but I’m a little bit superstitious, so I made it April 2nd — the tariffs go on, not all of them but a lot of them.  And I think you’re going to see something that’s going to be amazing. 

    We’ve been taken advantage of as a country for a long period of time.  We’ve been — we’ve been tariffed, but we didn’t tariff.  Now, I did.  When I was here, I tariffed.  We took in $700 billion from China — $700 billion.  Not one president in this — in the history of our country took in 10 cents from China.  At the same time, China respected us. 

    Now, when COVID came in, that was a different deal.  I used to call it the China virus.  I guess I can call it the China virus again, but, you know, it was — it’s an accurate term, but I won’t do that out of respect to China.  Okay?

    (Cross-talk.)

    Say it again.  What?

    Q    On Gaza.  I just wondered if there’s any progress towards the second phase of the ceasefire that you can tell us about.

    THE PRESIDENT:  Well, I’m very disappointed when I see four — four bodies came in today.  These are young people.  Young people don’t die.  Okay?  Young people don’t die.  These are young people.  Four bodies came in today.  They think they’re doing us a favor by sending us bodies. 

    So, look, that’s a decision that has to be made by Israel, by Bibi, but Israel has to make that decision.  We got a lot of hostages back, but it’s very sad what happened to those people.  I mean, you had a young lady with her hand practically blown off.  You know why it blew up?  Because she put up her hand to try and stop a bullet that was coming her way, and it hit her hand and blew off her fingers, big part of her hand. 

    This is a vicious group of people, and Israel is going to have to decide what they’re doing.  Phase one is going to be ending.  Think of it: Today, they sent in four bodies.  Bodies. 

    And I will say one thing, though.  I’ve spoken to a lot of the parents and a lot of the people involved.  They want those bodies almost as much and maybe even just as much as they wanted their son or their daughter.  Amazing.  “Please, sir.  Please.  My son is dead, but they have his body.  Please can you get it for us?”  They — it’s the biggest thing.  It’s incredible the level — they want the bodies of these people.  They’re dead.  They’re dead. 

    And, you know, when I saw the ones that came in two weeks ago, they looked like they just got out of a concentration camp.  Then, the following week, a group came in, and they weren’t as bad — in as bad of shape.

    But Israel is going to have to make a decision.  You’re right, phase one, and now phase two has started.  And today, we got some, you know, very, very sad — we knew they were dead, by the way.  We knew they were going to be bodies, as opposed to people that were living.  But it’s a very sad situation. 

    At some point, somebody is going to say we got to do something about this.

    (Cross-talk.)

    Q    Mr. President, you were just talking about Afghanistan and the botched withdrawal.  Have all the generals or command staff that were involved with the withdrawal been fired or relieved of duty?

    THE PRESIDENT:  Well, that’s a great idea.  It’s — (laughter) — sorry, I’m not going to tell this man what to do, but I will say that.  If I had his place, I’d fire every single one of them, Pete.  Pete, that’s a very good question. 

    SECRETARY HEGSETH:  Well, it’s a question we’ve thought a lot about.  We’re doing a complete review of every single aspect of what happened with the botched withdrawal of Afghanistan and plan to have full accountability.  It’s one of the first things we announced at the Defense Department for that reason, sir. 

    Certainly General “Razin” Caine, who’s on his way in, was not a part of that.  Instead, was a part of leading the effort against ISIS by untying the hands of war fighters and finishing the job properly and then bringing our troops home. 

    So, we’re taking a very different view, obviously, than the previous administration, and there will be full accountability. 

    THE PRESIDENT:  I don’t see big promotions in that group.  (Laughter.)  And I think they’re going to be largely gone.  I know the man on my left.  I think they’re going to be largely gone. 

    That was a horrible display.  And, you know, I’ve dealt with the parents and the family of the 13 that were killed.  But, you know, nobody ever talks about the 40 that were so badly hurt, with the arms and the legs and the face and the whole thing — the missing arms and legs.  It was so terrible, the way that was handled.

    And it should have been gone through Bagram.  We have a big base with big fences that nobody can get in, and you have, you know, hundreds of acres, instead of a little local airport where the whole place went crazy.  That was so badly handled.  And I would think that most of those people are going to be gone. 

    Q    Are we going to take Bagram back?

    THE PRESIDENT:  So, I’ll tell you what has bothered me very much — very, very much: We give billions of dollars to Afghanistan.  Nobody knows that.  Nobody knew that.  Do you know we give billions of dollars to Afghanistan?  And yet we left behind all of that equipment, which wouldn’t have happened. 

    You know, we were getting out under me.  I’m the one that got it down to 5,000 people.  We were going to get out, but we were going to keep Bagram, not because of Afghanistan but because of China, because it’s exactly one hour away from where China makes its nuclear missiles. 

    So, we were going to keep Bagram.  We were going to keep a small force on Bagram.  We were going to have Bagram Air Base, one of the biggest air bases in the world.  One of the biggest runways, one of the most powerful runways, in the sense that it was very heavy concrete and steel.  You could carry about anything.  You could land anything on those runways. 

    We gave it up.  And you know who’s occupying it right now?  China.  China.  Biden gave it up.  So, we’re going to keep that, and we’re going to have a withdrawal, and we’re going to take our equipment.  We’re going to do it properly.  We’re going to do it very — we’re going to keep the equipment. 

         Well, they ran out.  It was — what happened there was a — in fact, you know, in all fairness to Putin, when he saw that, he said, “Well, this is our time to go and go into Ukraine,” I guess, because it was — the timing seemed to be about right. 

         But we send them billions of dollars in aid, which nobody knows.  If they — if the American public knew that — they know it now.  And if we’re doing that, I think they should give our equipment back.  And I told Pete to study that. 

    But we left billions — tens of billions of dollars’ worth of equipment behind.  Brand-new trucks.  You see them display it every year on their little roadway someplace where they have a road and they drive the — you know, waving the flag and talking about America.  Beautiful equipment that’s all — I mean, the top-of-the-line stuff, brand-new stuff.  Now it’s getting older. 

         But you know what?  We’re going to pay them.  I think we should get a lot of that equipment back. 

         You know that Afghanistan is one of the biggest sellers of military equipment in the world.  You know why?  They’re selling the equipment that we left.  We’re first.  They were second or third.  Can you believe it?  They’re selling 777,000

    rifles, 70,000 armor-plated — many of them were armor-plated trucks and vehicles — 70,000. 

         If you think of a used car lot, the biggest one in the country, you have — I would say, JD, if somebody had 500 cars, that would be a lot. 

    THE VICE PRESIDENT:  Yeah, that would be quite a lot.

    THE PRESIDENT:  This is 70,000 vehicles we had there, and we left it for them.  I think we should get it back.

         (Cross-talk.)

         Q    Mr. President, the spending bill that passed last night aims to cut $2 trillion.

         THE PRESIDENT:  Right.

         Q    Can you guarantee that Medicare, Medicaid, Social Security will not be touched?

         THE PRESIDENT:  Yeah.  I mean, I have said it so many times, you shouldn’t be asking me that question.  Okay?  This will not be “read my lips.”  It won’t be “read my lips” anymore: We’re not going to touch it.

         Now, we are going to look for fraud.  I’m sure you’re okay with that, like people that shouldn’t be on, people that are illegal aliens and others — criminals, in many cases.  And that’s with Social Security.  We have a lot of people — you see that immediately.  When you see people that are 200 years old that are being sent checks for Social Security — some of them are actually being sent checks. 

    So, we’re tracing that down, and I have a feeling that Pam is going to do a very good job with that.  But you have a lot of fraud. 

         But, no, I’m not — we’re not doing anything on that.

         Q    Mr. President, part of your mission, sir —

         Q    Mr. President — Mr. President, on CBS News.  Mr. President, you’re in litigation —
        
         Q    Part of your mission has been — thank you.  I’m sorry. 

         Part of your mission has been to restore executive control over the executive branch.  Is it your view of your authority that you have the power to call up any one of or all of the people seated at this table and issue orders that they’re bound to follow?

         THE PRESIDENT:  Oh, yeah.  They’ll follow the orders.  Yes, they will. 

         Q    No exceptions? 

         THE PRESIDENT:  No except- — well, let’s see.  Let me think.  Oh, yeah.  Yeah.  She’ll have an exception.  (The president points at Secretary Rollins.)  (Laughter.)

         Of course, no exceptions.  You know that.

         Q    Mr. President, can you clarify the Canada/Mexico tariffs.  You had put that 30-day pause. 

    THE PRESIDENT:  Yeah.

    Q    You just referred to —

         THE PRESIDENT:  It’s 25 percent.

         Q    Twenty-five percent.  When does it go into effect?

         THE PRESIDENT:  April 2nd. 

         Q    April 2nd for Canada and Mexico?

         THE PRESIDENT:  Correct.  And for —

         Q    And for the reciprocal?

         THE PRESIDENT:  — and for everything. 

         SECRETARY LUTNICK:  Well, we have the — the — fentanyl-related is a pause.  If they can prove to the president they’ve done an excellent job, that’s what they first do in 30 days.

         Q    Have you guys seen any changes?

         SECRETARY LUTNICK:  But then the overall is April 2nd.  So, the big transaction is April 2nd, but the fentanyl-related things, if they’re working hard on the border, at the end of that 30 days, they have to prove to the president that they’ve satisfied him to that regard.  If they have —

         THE PRESIDENT:  It’s going to be hard to satisfy.

         SECRETARY LUTNICK:  — then we’ll give them a pause or he won’t. 

         THE PRESIDENT:  It’s going to be hard to satisfy.

         SECRETARY LUTNICK:  But that’s up to him to see.

         THE PRESIDENT:  We lose 300,000 people a year to fentanyl.  Not 100-, not 95-, not 60-, like you read.  You know, you’ve been reading it for years. 

         We lost, in my opinion, over the last couple of years, on average, maybe close to 300,000 people dead, and the families are ruined.  You know, when they lose a daughter, when they lose a son, the families are never the same.  You’re never going to be the same.  So, you’re talking about a million people. 

         But when the daughters die, I see it — daughters die and the sons die because of fentanyl.  And in some cases, they don’t even know they’re taking it.  They — they’re buying something else, and it’s laced with fentanyl, and they end up dying.  And I’ve known many people who have lost children to fentanyl and for other reasons, but to fentanyl.  It’s such a big killer.  And those people are never the same people. 
        
         I mean, I’ve seen people that — for the rest of their lives, they’re not the same people.  They’re so different, it’s not even believable.  Dynamic people, happy people that are — they die a miserable death.  And that’s because of the crap that comes in through China and through Mexico and through Canada.  A lot of it comes through Canada. 

         The — Canada — look, we support Canada $200 billion a year in subsidies one way or the other.  We let them make millions of cars.  We let them send us lumber.  We don’t need their lumber.  We’re going to free up our lumber.  Lee is going to do — the head of environmental.  We’re going to free up our lumber.  We have the best lumber there is.  We don’t need their lumber.  What do we need their lumber for?

         When you look at the — we subsidize them $200 billion a year.  Without us, Canada can’t make it.  You know, Canada relies on us 95 percent.  We rely on them 4 percent.  Big difference.  And I say Canada should be our 51st state.  There’s no tariffs, no nothing. 
        
         And — and I say that, we give them military protection.  They have a very small military.  They spend very little money on military.  Or NATO, they’re just about last in terms of payment, because they say, “Why should we spend on military?”  That’s a tremendous cost.  Most nations can’t afford to even think about it.  “Why should we spend on military?  The United States protects us.” 

         And I would say that’s largely true.  We protect Canada.  But it’s not fair.  It’s not fair that they’re not paying their way.  And if they had to pay their way, they couldn’t exist. 

         When I spoke to — let’s call it the prime minister, rather than the governor.  (Laughter.)  But when I spoke to him, I said, “Why are we giving you $200 billion a year?”  He was unable to answer the question.  I said, “Why are we letting you make millions of cars and send them in?”  He was unable to answer the question — Justin Trudeau, a nice guy.  I think he’s a very good guy.  I call him Governor Trudeau. 

         He should be governor, because the fact is that if we don’t give them cars — we don’t have to give them cars.  The c- — tariffs will make it impossible for them to sell cars into the United States.  The tariffs will make it impossible to — for them to sell lumber or anything else into the United States. 

    And all I’m asking to do is break even or lose a little bit, but not lose $200 million.  And we love Canada.  I love Canada.  I love the people of Canada.  And — but, honestly, it’s not fair for us to be supporting Canada.  And if we don’t support them, they don’t subsist as a — as a nation. 

    Okay.

    Q    Mr. President, when you were talking to Elon —

    Q    Mr. President, on the EU tariffs.  Mr. President, have you made a decision on what level you will seek on tariffs on the European Union?

    THE PRESIDENT:  We have made a decision, and we’ll be announcing it very soon.  And it’ll be 25 percent, generally speaking, and that’ll be on cars and all other things. 

    And European Union is a different case than Canada — different kind of case.  They’ve really taken advantage of us in a different way.  They don’t accept our cars.  They don’t accept, essentially, our farm products.  They use all sorts of reasons why not.  And we accept everything of them, and we have about a $300 billion deficit with the European Union. 

    Now, I love the countries of Europe.  I guess I’m from there at some point, a long time ago, right?  (Laughter.)  But indirectly — well, pretty directly, too, I guess.  But I love the countries of Europe.  I — I love all countries, frankly.  All different.

    But European Union has been — it was formed in order to screw the United States.  I mean, look, let’s be honest.  The European Union was formed in order to screw the United States.  That’s the purpose of it, and they’ve done a good job of it, but now I’m president.

    Q    What will happen if these countries or the EU retaliate?

    THE PRESIDENT:  They can’t.  I mean, they can try, but they can’t. 

    Q    China did.  They imposed tariffs —

    Q    They are pledging to, sir.

    Q    — that are — went into effect, China’s retaliatory tariffs —

    THE PRESIDENT:  That’s right.  That’s right.  But —

    Q    — on the — the 10th of February.  Has there been any —

    THE PRESIDENT:  That’s right.

    Q    — impact that you’ve been able to observe?

    THE PRESIDENT:  That’s right.  No, they can do it, and they can try, but the numbers can never equal what ours, because we can go off.  We are the pot of gold.  We’re the one that everybody wants.  And they can retaliate, but it cannot be a successful retaliation, because we just go cold turkey.  We don’t buy anymore.  And if that happens, we win. 

    Q    Are you talking to Erik Prince about privatat- —

    THE PRESIDENT:  No.

    Q    — privatizing deportations?

    THE PRESIDENT:  No, I haven’t.  I haven’t.

    Q    Mr. President, you’re in litigation with CBS News.  Is this a case that you’d like to see go to trial, or are you open a settelm- —

    THE PRESIDENT:  With who?

    Q    CBS, the — “60 Minutes.”

    THE PRESIDENT:  CBS?

    Q    Yes.

    THE PRESIDENT:  Well, CBS did something that was amazing.  Kamala was unable to answer a question properly, and they took the question that they asked, and they inserted an answer.  They gave her an answer.  This was two days before the election, right before — the Sunday night before the election.  And they wrote out a — they put her words from another question that was asked about a half an hour later, and they put that into the question. 

    Nobody’s ever even heard of it before.  Nobody’s ever heard of anything like this before.  But they then did it, they say, on numerous occasions.  And the FCC is looking at it very strongly, and everybody’s looking at it, and I’m — but nobody’s ever seen anything. 

    Think of it.  They took her answers, and they changed them.  And I don’t mean they changed a word or two, or they cut off a half a sentence, or they cut off a couple of words.  I mean, I’ve had that happen too.  But that, you — you just say — you know, then they say, “Well, we want brevity.  You know, we wanted to do it for time.” 

    Q    Would — would you encourage —

    THE PRESIDENT:  They took out her answer, and they inserted an entirely different answer that made her sound competent.  And they did this, and nobody’s ever — I thought I’ve heard of everything when it comes to that stuff.  No — I’ve never heard of it.  Nobody has ever seen.  So, we sued, and we are in discussions of settlement. 

    Q    What would a number be?  Like a hu- — what — what’s a number that you would think would be appropriate?

    THE PRESIDENT:  I think it’s a lot.  (Laughter.) 

    Q    What’s the timeline and process —

    THE PRESIDENT:  No, I mean, it — look, it could have — it probably did affect the election.  I mean, we won by a lot.  As I said, “Too big to rig.”  But it probably did affect the election.  Yeah, probably could have won by more, but I could have lost the election because of that. 

    It’s — we have to get to honest elections.  We have to go back to paper ballots.  We have to go back to voter ID.  One-day election, ideally, or short term, not these 48-day and 61-day elections where boxes are put in a room, and, “Oh, let’s move the boxes, because we’re putting in a new air conditioning system.”  Then you see the boxes move, and then you say, “Well, where are all the boxes?”  You know, —

    Q    But would you —

    THE PRESIDENT:  “What happened to the boxes that never came back?” 

    No, our elections are extremely dishonest.  We’re the only country in the world that has mail-in voting and all of these different things that we put in.  Nobody — no other country in the world has it. 

    You know, France went to — they had some of the things that we had, and they went to same-day voting, all paper.  And, you know, paper is very sophisticated now.  It’s a very sophisticated — it’s a very sophisticated form of voting right now.  It’s a very safe form of voting. 

    You know, the other thing is for the governors.  I wish the governors would do it, because the paper ballots will cost 9 percent of the machines, and they’re 100 percent.  You know, they’re — I don’t — nothing’s foolproof, but they’re as close as you get.  So, we’ll see what happens. 

    But on the “60 Minute” thing, nobody’s ever seen anything like it. 

    Q    And would you link the FCC action to the litigation?  I mean, does it make se- —

    THE PRESIDENT:  I don’t think it’s linked, but probably the lawyers look at it, you know, because I know it’s going along.  FCC is headed by a very competent person, and you have some very competent people on the board, and so I think they’re looking at it very seriously. 

    Yeah.

    Q    Mr. President —

    Q    Sir, of all the deals that you’ve done in your life, all the people you’ve sat across from and negotiated with, is President Putin distinct in any way?

    THE PRESIDENT:  He’s a very smart guy.  He’s a very cunning person.  But I’ve dealt with some people that — I’ve dealt with some really bad people.  But I will tell you, as far as this is concerned, we’ve — you have to understand, he was — he had no intention, in my opinion, of settling this war.  I think he wanted the whole thing. 

    When I got elected, we spoke, and I think we’re going to have a deal.  I can’t guarantee you that.  You know, a deal is a deal.  Lots of crazy things happen in deals, right?  But I think we’re going to have a deal. 

    If I didn’t get elected, I believe he would have just continued to go through Ukraine, and over a period of time, a lot of people — a lot of people would have been killed.  It would have lasted for a period of time. 

    And the reason that Ukraine — and I give — I have great respect for the Ukraine as fighters.  They have great fighters.  But without our equipment, that war would have been over, like people said, in a very short period of time. 

    Q    Is there a timeline (inaudible) — 

    THE PRESIDENT:  And if you remember, I gave the Javelins, and the Javelins are the things that knocked out those tanks right at the beginning of the war.  They said that — that Obama, at the time, gave sheets, and Trump gave Javelins.  Well, I was the one that did that.  But I want to see it come to an end. 

    Q    Will he have to make concessions — President Putin?

    THE PRESIDENT:  Yeah, he will.  He will.  He’s going to have to.  And —

    Q    Can you preview that?

    THE PRESIDENT:  And I think — I believe that, because we got elected, that war will come to an end.  And I also believe, if we didn’t get elected, if this administration didn’t win the election by a lot, that that war would go on for a long time, and he would want to take the whole thing. 

    Q    What concessions?  What concessions?

    Q    On the — on the —

    THE PRESIDENT:  The big question I had is: Does he want to take the whole thing?  But the reason — and — and the Ukrainians are good fighters, I have to say, but without the equipment — without our equipment — we have the best equipment in the world.  We have the best military equipment in the world.  Without our equipment, that would have been over very quickly. 

    Q    What concessions would you like to see? 

    Q    On the (inaudible), sir?  On — on the —

    Q    What concessions would you like to see?

    THE PRESIDENT:  Oh, I don’t want to tell right now.  But I can tell you that NATO, you can forget about.  That’s been — I think that’s probably the reason the whole thing started.  And I think, JD, we can say that. 

    What — do you have a statement on that?  You’ve been very much involved. 

    THE VICE PRESIDENT:  (Laughs.)

    THE PRESIDENT:  I gave him the beauty.

    THE VICE PRESIDENT:  Great.  You gave me the — the hardest question, sir. 

    Q    Concessions from Russia.

    THE VICE PRESIDENT:  I mean, look, as the president said, we’re not going to do the negotiation in public with the American media.  He’s going to do it in private with the president of — of Russia, with the president of Ukraine, and with other leaders.  And I think that’s how this has to go. 

    I think the — I just want to push back against some of the criticism I’ve seen in the administration on this, because every single time the president engages in diplomacy, you guys preemptively accuse him of conceding to Russia.  He hasn’t conceded anything to anyone.  He’s doing the job of a diplomat, and he is, of course, the diplomat in chief as the president of the United States. 

    Q    On the gold cards, sir.  Can you talk a little bit more about the vetting process, you know —

    THE PRESIDENT:  They’ll go through a process.  The process is being worked out right now, and we’re going to be — we’re going to be very careful. 

    Q    And will there be restrictions on, for instance, can Chinese nationals get one? 

    THE PRESIDENT:  No, we’re not going to restrict. 

    Q    Can Iranian nationals get —

    THE PRESIDENT:  We’re probably not going to be restricting too much in — in terms of countries, but maybe in terms of individuals.  We want to make sure we have people that love our country and are capable of loving the country.

    Q    Is there a process, sir —

    Q    Mr. President, there is a measles outbreak in Texas at the moment in which a child is reported to have died.  Do you have concerns about that?  And have you asked Secretary Kennedy to look into that outbreak? 

    THE PRESIDENT:  Well, why don’t we — Bobby, do you want to speak on that, please?

    SECRETARY KENNEDY:  We are following the measles epidemic every day.  I think there’s 124 people who have contracted measles at this point, mainly in Gaines County, Texas; mainly, we’re told, in the Mennonite community. 

    There are two people who have died, but the — we’re watching it.  And there — there are about 20 people hospitalized, mainly for quarantine. 

    We’re watching it.  We put out a post on it yesterday, and we’re going to continue to follow it. 

    Q    Mr. President —

    SECRETARY KENNEDY:  Inci- — incidentally, there have been four measles outbreaks this year in this country.  Last year, there were 16.  So, it’s not unusual.  We have measles outbreaks every year. 

    Q    You sound a little under the weather yourself right now.  Are you all right?

    SECRETARY KENNEDY:  I just — I have a permanently bad throat. 

    Q    (Inaudible) coughing.

    Q    Mr. President, would you — would you send U.S. peacekeepers to just — to support the — the European peacekeepers?  Would you do any sort of U.S. —

    THE PRESIDENT:  No, we’re going to support Europe, yeah. 

    Q    And how would we do that?  How would the United States do that?

    THE PRESIDENT:  We’re very friendly with Europe.  We have a great relationship with Europe.  I mean, you could ask — you could talk about France.  You could talk about any of them.  Yeah, we have a great relationship with Europe. 

    Q    But how will we — how will the United States do that?  Would there be boots on —

    THE PRESIDENT:  Well, how?  I mean, you’re asking me a question: What are we doing in the — let’s worry — I hope we have that problem, where we can worry about peacekeeping.  We got to get there first.

    (Secretary Lutnick knocks on the table.)

    But I hope we have the problem of worrying about peacekeeping.  That’ll be the easiest problem, I think, JD, that we’ve ever had.  (Laughter.)

    THE VICE PRESIDENT:  I think so, sir.

    Q    That would be part of the deal, presumably, that the Ukrainians —

    THE PRESIDENT:  We’ll — we’re —

    Q    — would want —

    THE PRESIDENT:  We’ll do it at the time, but we’ll — peacekeeping is very easy.  It’s making the deal that’s very tough. 

    And, again, nobody was speaking to Russia at all.  And, you know, probably a million and a half soldiers have been killed — close to a million and a half soldiers, not to mention a treme- — I will tell you, the — the thing with that horrible war that should have never started — it would have never started if I were president, and it didn’t start for four years, and it was not even thought about starting.  But the thing with that war is that you’re highly underestimating the number of people that have been killed.  Far more people have been killed in that war than you talk about.  You know, you like to talk about numbers, like, a million people.  Well, they had much more than a million soldiers killed.

    But you have a lot of cities that have been knocked to the ground.  They’re demolition sites.  Literally, demolition sites.  Every single building is knocked to the ground, and a lot of people were killed in those buildings.  And you’ll hear a report, “Two people were minorly injured” or “just injured a little bit.”  No.  No.  People were killed by the thousands.

    And there are a lot more people killed in that war than the media wants to talk about, because Biden did a horrible, horrible job.  He should have prevented that war.  He could have prevented that war. 

    Putin would have never gone in.  I’ll tell you one thing: He would have never gone in.  That war would never have taken place if I were president. 

    Q    I think what people are trying to understand, Mr. President —

    Q    Mr. President —

    Q    — is how would the United States — what would you be willing to do to support this European peacekeeping effort?  Would there be —

    THE PRESIDENT:  Again, you’re asking me the same question?  (Laughter.)

    Q    I’m just trying —

    THE PRESIDENT:  How many times do you have to answer it?  You’re talking about after we make peace.  Let me make peace first. 

    Once we make peace, I’ll give you all the answers you want.  But how many times can you ask the same question?

    Q    Mr. President, on the Middle East.  Did you receive —

    Q    Is loosening the sanctions on —

    THE PRESIDENT:  Yeah, go ahead.  Behind.

    Q    Is loosening the sanctions on Russia a potential option as part of an overall deal?

    THE PRESIDENT:  Not now, no.  No.  We have sanctions on Russia.  No, I want to see if we make a deal first.  But I think we will.  I’ve had very —

    Q    But is it a bargaining chip, I’m asking.

    THE PRESIDENT:  I’ve had very good conversations with President Putin.  I’ve had very good conversations with President Zelenskyy.  And until four weeks ago, nobody had conversations with anybody.  It wasn’t even a consideration.  Nobody thought you could make peace.  I think you can. 

    Q    Mr. President, just —

    Q    But if Mr. Putin gets to keep his —

    Q    — just to bring this —

    Q    — the land that was claimed by force, if the Russians get to keep the territory that they — they claimed by force, doesn’t that send a dangerous message, let’s say, to China about Taiwan?

    THE PRESIDENT:  Oh, okay.  You try and take it away, right?  We’re going to do the best we can.  (Laughter.)  We’re going to do the best we can to make the best deal we can for both sides.  But for Ukraine, we’re going to try very hard to make a good deal so that they can get as much back as possible.  We want to get as much back as possible. 

    Q    Mr. President, just to bring this full —

    THE PRESIDENT:  And we’ll — we’ll cut it out after maybe this question.  Go ahead.

    Q    To bring this full circle, back to —

    THE PRESIDENT:  Unless it’s a bad question, and then we’ll (inaudible).  (Laughter.)

    Q    And back to —

    THE PRESIDENT:  You always like to finish on a good one.

    THE VICE PRESIDENT:  But, sir, they want you to negotiate with them instead of President Putin.

    THE PRESIDENT:  I know.  I know.

    Q    Back to the question about the —

    THE PRESIDENT:  They want to continue to talk about the peacekeepers.  (Laughter.)  They’re — you have a lot of confidence in us, because you assume there’s going to be peace.  You know, it’s possible it doesn’t work out.  There is possibility. 

         Q    And I had —

         THE PRESIDENT:  But I hope it does, for the sake of humanity, because if you look at the pictures that I’ve looked at, you don’t want to look at them. 

         Go ahead.

         Q    I had a question back on these cuts to the federal workforce.  You mentioned you — you’re interested in doing another round of this email.  When would you like to

    see that?  What would be the deadline?  And —

         THE PRESIDENT:  I — I’m not — I think —

         Q    — this time, would it be mandatory?

         THE PRESIDENT:  I think Elon — I think Elon wants to.  And I think it’s a good idea because, you know, those people, as I said before, they’re on the bubble.  You got a lot of people that have not responded, so we’re trying to figure out, do they exist?  Who are they?  And it’s possible that a lot of those people will be actually fired. 

         Q    And —

         THE PRESIDENT:  And if that happened, that’s okay, because that’s what we’re trying to do. 

         This country has gotten bloated and fat and disgusting and incompetently run. 

         I think we had the worst president in the history of our country.  He just left office.  I think he’s a disgrace.  What he’s done to our country by allowing millions of people to come into our country like that and all of the other things — the inflation, which he caused because of energy and stupid spending.  To spend hundreds of millions, trillions and trillions of dollars on the Green New Scam — a total scam.  I have the best energy people, the best environmental people in the world around this table, and they — they can’t even believe he got away with it. 

         And then, in leaving office, to send $20 billion here and $20 million there and $10 million and $5 million, and they couldn’t spend the money fast enough, and “Let’s get it out before Trump gets in.  Let’s just get it out to anybody.”  This is a disgrace to our nation.

         And you don’t write the fair thing.  But, look, you know the good news?  The people see it, and that’s why we won the election by so much. 

         Thank you very much, everybody.  I appreciate it.  Thank you.  Thank you.   

         Q    Thank you, Mr. President.

         THE PRESIDENT:  Thank you very much, Doug.  Pulitzer Prize.

         THE VICE PRESIDENT:  Sir, how many peacekeepers are you going to send to — (laughter) —

         THE PRESIDENT:  “What will you do?”  “How will it be?”  (Laughter.)

         SECRETARY LUTNICK:  “How will you address this?”

                                    END            12:47 P.M. EST

    MIL OSI USA News

  • MIL-OSI China: 5th China International Consumer Products Expo to spotlight high-tech innovation

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

    HAIKOU, Feb. 26 — The fifth China International Consumer Products Expo (CICPE), a key platform for global trade and consumption trends, will take place in Haikou, the capital city of south China’s Hainan Province, from April 13 to 18, the event’s organizers announced at a press briefing on Wednesday.

    Co-hosted by China’s Ministry of Commerce and the Hainan provincial government, this year’s expo will feature expanded international participation and first-time innovations.

    Aligning with China’s innovation priorities, the expo will highlight sectors such as artificial intelligence, low-altitude aviation, smart vehicles and digital health. Tech leaders like Huawei, iFLYTEK and Tesla will showcase cutting-edge solutions.

    The main venue remains the Hainan International Convention and Exhibition Center this year, with additional duty-free shopping zones in international duty-free complexes in Haikou and Sanya. A yacht exhibition will also be held in Sanya.

    Newcomers to the event will include delegations from Slovakia, Brazil and Singapore. Multinational giants such as U.S.-based Estée Lauder and Germany’s Volkswagen will also be among this year’s exhibitors.

    Domestic exhibitors will present premium and local products, and a section of the expo will be dedicated to connecting foreign buyers with Chinese manufacturers through tailored investment matchmaking.

    The CICPE is China’s only national-level exhibition featuring consumer products, and it is the largest consumer expo in the Asia-Pacific region.

    MIL OSI China News