NewzIntel.com

Category: Politics

  • MIL-OSI United Kingdom: New Non-Executive Directors appointed to DBS

    Source: United Kingdom – Executive Government & Departments

    News story

    New Non-Executive Directors appointed to DBS

    The Home Office announces directorial appointments to the Disclosure and Barring Service (DBS).

    The Home Office is pleased to announce the appointment of two new Non-Executive Directors to the Disclosure and Barring Service (DBS).

    Amanda Arrowsmith and Rob Eason replace Mary Cunneen and Samantha Durrant  from 3 February 2025. The appointments were made following a robust open competition in accordance with the Governance Code on Public Appointments. The appointments are for an initial period of 3 years, with the possibility of re-appointment.

    Amanda has a wealth of experience in senior leadership roles within the public and private sectors, with a particular focus on People Strategy, Organisation Development, and Business Transformation.

    Rob has a public sector career background in science & technology and managing large defence projects and contracts.  With a career based in leadership, operational delivery and technology, Rob is an advocate for promoting innovation and innovative thinking driven through inclusive organisations.

    Launched in 2012, the Disclosure and Barring Service (DBS) issues over seven million criminal records checks every year. Its disclosure service enables employers and voluntary organisations in England, Wales and the Crown Dependencies of Jersey, Guernsey and the Isle of Man to make informed recruitment decisions, using information from police records and other sources.

    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: RSH publishes its quarterly survey for Q3 2024-25

    Source: United Kingdom – Executive Government & Departments

    Press release

    RSH publishes its quarterly survey for Q3 2024-25

    The regulator’s latest quarterly survey is published today.

    The Regulator of Social Housing has today (27 February 2025) published the results of its latest quarterly survey of private registered providers’ financial health. The report covers the period 1 October 2024 to 31 December 2024.

    Landlords invested £3.9 billion on building and acquiring new homes (up from £3.2 billion in the previous quarter), though the year to December 2024’s investment of £13.7 billion was £0.9 billion lower than the year to December 2023.  

    Social landlords are making vital improvements to tenants’ homes and building new homes for the future.  They continue to invest record amounts in new and existing stock, though there are indications that development spend has peaked.    

    Spend on repairs and maintenance totalled £2.3 billion in the quarter. In the year to December a total of £8.7 billion was spent, with a further £9.8 billion forecast for the next 12 months. 

    Over the next year, they plan to spend a further £14.8 billion on development, only £10.5 billion of which is currently committed.  This is a reduction from £15.6 billion of planned spend and £10.9 billion of committed spend forecast in the previous quarter, meaning forecasts are now at the lowest amount since the start of the pandemic. 

    Lending to the sector remains robust, with £2.6 billion of new finance arranged in the quarter.  

    However, a high level of debt drawdowns resulted in a decrease in undrawn available facilities and cash balances remain at historically low levels.  

    Total cash and undrawn facilities of £33.4 billion are still enough to cover forecast interest costs, loan repayments and development for the next year.  

    Aggregate cash interest cover (excluding sales) stood at 82% for the 12 months to December 2024 and forecasts show a further deterioration is expected.  

    Performance varies among individual landlords. Some of the lowest levels of interest cover are driven by high levels of spend on existing stock by some large providers. 

    RSH continues to monitor and engage with landlords, particularly those that have a reliance on sales to support their cashflows. 

    Will Perry, Director of Strategy at RSH, said: 

    “Social landlords continue to face pressures on multiple fronts. 

    “The sector is building substantial numbers of new homes for the future,  with actual and forecast development spend close to pre-pandemic levels. 

    “That said, there has been a notable drop in forecast development spend as landlords continue to invest record amounts on existing stock, including on vital work to improve fire safety and damp and mould.  

    “Our regulation is key for investor confidence and we will continue to scrutinise the sector’s financial performance and its ability to manage risk through these surveys, alongside our inspections and stability check programme.” 

    Notes to editors 

    1. The report is based on the financial regulatory returns from 203 private registered providers (housing associations and other  private registered providers, including for-profits), who own or manage more than 1,000 homes. 

    2. Through its annual stability checks, RSH considers whether each provider’s current viability grade is consistent with the information contained in their regulatory returns. RSH focuses on indicators of financial robustness and evidence of any significant changes in risk profile. 

    3. RSH promotes a viable, efficient and well-governed social housing sector able to deliver more and better social homes. It does this by setting standards and carrying out robust regulation focusing on driving improvement in social landlords, including local authorities, and ensuring that housing associations are well-governed, financially viable and offer value for money. It takes appropriate action if the outcomes of the standards are not being delivered.

    4. For general enquiries email enquiries@rsh.gov.uk. For media enquiries please see our Media Enquiries page.

    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

  • MIL-Evening Report: Grattan on Friday: Albanese falls victim to a Chinese burn

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    As the Albanese government struggles to stay on its political feet, who would have thought the China issue would suddenly insert itself into the campaign, leaving the prime minister looking, at best, flat-footed?

    Improving and stabilising what had become a toxic bilateral relationship under Scott Morrison has been one of the Albanese government’s major pluses in its foreign and trade policy.

    China has taken off all of the roughly $20 billion in barriers it had enacted on Australian exports. Australian lobsters are back on Chinese menus. And who can forget the PM’s visit to China, when he was lauded as “a handsome boy”.

    But now, almost on the eve of the election campaign, a Chinese military exercise in the Tasman Sea has not just reminded Australians of Chinese military power, but has left the PM appearing poorly informed. Or not wanting to offend the Chinese.

    Of course, China did not set out to force Anthony Albanese into what were publicly misleading comments. That was all his own doing.

    The China incident was on the morning of Friday last week, when its navy commenced the live-fire exercise.

    Albanese was briefed on Friday afternoon. Later in the day, a reporter asked him about an ABC report of “commercial pilots [being] warned about a potential hazard in airspace” where three Chinese warships had been sailing.

    The PM said: “China issued, in accordance with practice, an alert that it would be conducting these activities, including the potential use of live fire”. This told, at best, a sliver of what was a rather alarming story.

    The government says the Chinese had acted in accordance with the law but the amount of notice they’d given (which was not provided directly to Australia) was inadequate. Representations about this were made by Foreign Minister Penny Wong to the Chinese.

    It took evidence before Senate estimates hearings this week to paint a full picture of what happened.

    On Monday, Rob Sharp, CEO of Airservices Australia (the country’s civil air navigation services provider) told senators: “We became aware at two minutes to ten on Friday morning – and it was, in fact, a Virgin Australia aircraft that advised one of our air traffic controllers – that a foreign warship was broadcasting that they were conducting a live firing 300 nautical miles east off our coast. So that’s how we first found out about the issue.”

    Initially, “we didn’t know whether it was a potential hoax or real”.

    Meanwhile, a number of commercial planes were in the air and some diverted their routes.

    On Wednesday, Australian Defence Force Chief David Johnston was asked at another estimates hearing whether Defence was only notified of what was happening from a Virgin flight and Airservices Australia 28 minutes after the Chinese operation firing window commenced. Johnston’s one-word reply was “Yes”.

    Australia does not know whether the Chinese ships, which proceeded towards Tasmania, intend to circumnavigate the continent, or whether they have been accompanied by a submarine.

    Relations with China won’t be a first-order issue with most voters at this cost-of-living election. But these events play to the Dutton opposition, for whom national security is home-ground territory.

    They reinforce the broader impression, which has taken hold, of Albanese being poor with detail.

    Dutton said on Sydney radio on Thursday, “I don’t know whether he makes things up, but he seems to get flustered in press conferences. You hear it – the umming and ahing, and at the end of it, you don’t know what he’s actually said.

    “But what we do know is that he is at odds with the chief of the Defence force, and he needs to explain why, on such a totemic issue, he either wasn’t briefed, that he’s made up the facts, that he’s got it wrong.”

    Wong hit back, “We have been very clear China is going to keep being China, just as Mr Dutton isn’t going to stop being Mr Dutton – the man who once said it was inconceivable we wouldn’t go to war is going to keep beating the drums of war.

    “The Labor government will be calm and consistent; not reckless and arrogant.”

    There’s one political complication for Dutton in seeking to exploit the China issue. Despite his natural hawkishness, in recent times he has been treading more softly on China, with an eye to the importance of voters of Chinese heritage in some seats.

    The Trump administration has dramatically increased the uncertainty of the international outlook that the Australian government, whether Labor or Coalition, will face during the next parliamentary term.

    Defence Minister Richard Marles this week talked up the US administration’s policy in the region. “We are very encouraged by the focus that the Trump Administration is giving in terms of its strategic thinking to the Indo Pacific.”

    Treasurer Jim Chalmers, who was in Washington lobbying for a tariff exemption was also, declared that “the alliance and the economic partnership between Australia and the US is as strong as it’s ever been.”

    Whether we get that exemption will be an early indication of where we stand in terms of the special relationship with the US. But who knows what the US might want in return.

    A volatile world and perhaps pressure from the US may push Australia into spending more on defence, which on present planning is due to tick past 2% of GDP.

    Dutton has already said he would put more funding into defence, although, like most other aspects of opposition policy, the amount is vague. The Coalition says when it produces its costing (which will be in the last days before the election) there will be more precision.

    We’ve yet to see how the crucial US-China relationship evolves. That trajectory will have implications for Australia, positive or negative. On the very worst scenario, if China, encouraged by US President Donald Trump’s benign attitude to Russia, moves on Taiwan, the security of which the president has refused to guarantee, that could produce a dire situation in the region.

    Australia remains confident of continuing American support for AUKUS. But if Trump becomes even more arbitrary and adventurous, AUKUS could become a lot less popular not in America but in Australia.

    Michelle Grattan 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. Grattan on Friday: Albanese falls victim to a Chinese burn – https://theconversation.com/grattan-on-friday-albanese-falls-victim-to-a-chinese-burn-251029

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: Thailand: ‘Deportation of Uyghurs’ to China would be ‘unimaginably cruel’

    Source: Amnesty International

    Responding to reports that a group of about 40 Uyghurs who have been detained in Thailand since 2014 were today deported to China, Amnesty International’s China Director Sarah Brooks said:

    “The forcible return of these men, or indeed any Uyghurs, to China would place them at risk of serious human rights violations. We urge the government of Thailand to clarify their status.

    “Their ordeal is already chilling: they fled repression in China, only to find themselves arbitrarily detained in Thailand for more than a decade. The fact that they now may be forcibly returned to a country where Uyghur and other non-Han ethnic groups in Xinjiang have faced torture and ill-treatment, arbitrary detention and enforced disappearance is unimaginably cruel.

    “The Thai government should have protected these men, but instead it has wilfully exposed them to these grave risks. In doing so it has ignored pleas from Amnesty International and United Nations experts who urged it not to violate the internationally and domestically recognized principle of non-refoulement. And this just as Thailand has been elected to the United Nations Human Rights Council.

    “We now call on the governments of Thailand and China to disclose the whereabouts of these individuals, and – if they continue to be in custody – to ensure that the full spectrum of their rights is respected, including their right to be free from torture and other forms of ill-treatment.

    “Many of these men are in extremely poor health after enduring years in detention. They must have access to appropriate and adequate medical care. We call for an end to their ordeal, and urge authorities to uphold their right to freedom of movement. It is past time that they are allowed to safely rejoin their families.”

    Background

    The men reportedly deported today are among about 300 Uyghurs who were apprehended by the Thai authorities on 13 March 2014 after they had fled persecution and discrimination in China’s Xinjiang Uyghur Autonomous Region. A total of 109 people from the group were deported to China in July 2015.

    Amnesty International has documented massive and systematic abuses by the Chinese government against Uyghurs in Xinjiang – including in internment camps, where over a million people have been arbitrarily detained.

    In a 2021 report, Amnesty found that the Chinese government has committed at least the crimes against humanity of imprisonment, torture and persecution against Uyghurs, Kazakhs and other predominantly Muslim ethnic groups in Xinjiang.

    In a letter to the Thai government in January 2025, a group of UN experts said 23 of 48 men remaining in detention were reportedly suffering from serious health conditions including “diabetes, kidney dysfunction, paralysis of the lower body, skin diseases, gastrointestinal illnesses and heart and lung conditions”.

    Thailand is bound by the principle of non-refoulement, which prohibits the transfer of persons to any country or jurisdiction where they would face a real risk of serious human rights violations.

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: UK and Mongolia’s joint statement after the first annual UK-Mongolia political dialogue

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK and Mongolia’s joint statement after the first annual UK-Mongolia political dialogue

    Respect for sovereignty, international law, and territorial integrity were key areas of discussion during the first annual UK-Mongolia political dialogue in London on 26 February, 2025.

    Minister Catherine West MP and Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan.

    British Parliamentary Under-Secretary of State for the Indo-Pacific, Minister Catherine West MP, welcomed Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan to London on 26 February 2025 for the 15th UK-Mongolia roundtable, and the first annual political dialogue under the UK-Mongolia Joint Cooperation Roadmap towards a Comprehensive Partnership.

    Minister West and Deputy Prime Minister Amarsaikhan affirmed the strong partnership between the UK and Mongolia, grounded in shared democratic values, open societies, and a growing economic relationship.

    Both sides noted deepening geopolitical tensions, stressed their commitment to upholding the principles of the UN Charter, and called on all countries to refrain from using force against the territorial integrity and political independence of any state. They agreed to continue to work closely to uphold international law and advance our shared principles.

    Economic Growth

    The Ministers confirmed that the UK and Mongolia will work together with a view to increasing the volume of trade and investment between the two countries – to drive mutual economic growth

    They agreed to continue discussions with UK Export Finance to explore support for the construction of the metro system in Ulaanbaatar.

    Talks also focused on facilitating trade and investment by working towards the removal of barriers to trade and red tape, and creating stable and transparent business environments.

    Energy Transition

    The Ministers stressed the urgency of action to address the impacts of climate change. They committed to achieving the UK and Mongolia’s NDC and welcomed the recent allocation from the NDC Partnership to Mongolia, including funding from the UK, to reach Mongolia’s climate goals.

    They encouraged greater public-private partnerships to leverage public finance for private sector investment in line with both countries’ climate strategies.

    They looked forward to Mongolia hosting COP17 on Desertification in 2026 and agreed to facilitate an exchange of experts to support preparations for and the outcome of COP17.

    Women’s empowerment

    The Ministers reaffirmed both countries’ commitment to gender equality and to expanding the number of women elected to both parliaments. Minister West welcomed the expanded number of female parliamentarians in the Mongolian parliament following elections in 2024, and commended Mongolia for its quota target of 40% of female candidates by 2028. UK and Mongolia’s joint statement after the first annual UK-Mongolia Political Dialogue Amarsaikhan welcomed the UK achieving its highest level of female representation in the UK parliament following the 2024 UK general election.

    The ministers agreed to work together in multilateral fora ahead of the 30th anniversary of the “Beijing Declaration and Platform Action”.

    Critical minerals

    The Ministers agreed on the importance of extracting Mongolia’s mineral wealth in a manner that preserves Mongolia’s unique environmental legacy. They discussed the importance of responsible mining, and of high environmental, social and governance standards, as well as investing in Mongolian’s skills development.

    In this regard, both sides expressed their commitment to cooperate within the framework of Memorandum of Understanding on critical minerals. 

    Education, Civil Society and People-to-people ties

    The Ministers noted the strength of people-to-people ties between the UK and Mongolia, including the exchange of students through the Chevening Scholarship programme and “Mission 2100” scholarship programme initiated by the President of Mongolia.

    Minister West reaffirmed the UK’s support for English language teaching in Mongolia and both ministers welcomed the progress in expanding English language provision. This could include building on existing partnerships with British companies to increase access to and improve the quality of English Language teaching, as well as supporting remote and disadvantaged communities with UK Overseas Development Assistance.

    The Ministers agreed to explore possibilities to expand higher education opportunities for Mongolian students, including through the Chevening Scholarship, and to expand partnerships between universities.

    They looked forward to the exhibition of the Arts of the Mongol World to be held at the Royal Academy in 2027, and welcomed expanding cultural cooperation.

    They noted the important contribution that civil society organisations play in democratic societies, and committed to continue to engage with and seek inputs from civil society organisations representing a broad range of communities to strengthen democratic debate.

    Minister West and Deputy Prime Minister Amarsaikhan looked forward to and highlighted the importance of future high-level visits between the UK and Mongolia.

    On the sidelines of the roundtable meeting, Deputy Prime Minister Amarsaikhan held a bilateral meeting with Minister Gareth Thomas. During the meeting, the Ministers held constructive and fruitful discussions on further broadening the bilateral relationship in areas of mutual interest, including the promotion of trade and economic cooperation.

    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Public finance measures pragmatic

    Source: Hong Kong Information Services

    Chief Executive John Lee today commented that the 2025-26 Budget proposes pragmatic measures to improve public finances and stressed that he has full confidence in Hong Kong’s development and future.

    In a statement, Mr Lee said Financial Secretary Paul Chan put forward a series of practical and effective measures on Hong Kong’s economic development and public fiscal consolidation, adding that the Budget will reinforce the Government’s financial strength, and create new momentum and new advantages for the city’s economic development.

    As part of its course of action, the Budget proposes nurturing new quality productive forces to strengthen the development of innovation and technology and artificial intelligence; speeding up the development of the Northern Metropolis and the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone, fully leveraging the strategic position of “three centres and a hub”, further nurturing and attracting talent, upgrading industries with advantages, and accelerating the development of Hong Kong’s economy.

    He pointed out that such measures are consistent with the directions of the Policy Address.

    Mr Lee also indicated that the Budget puts forward realistic measures to enhance public finances, focusing primarily on strictly controlling government expenditures, supplemented by suitably increasing revenue, to steadily restore fiscal balance while taking into account the actual social situation and Hong Kong’s competitiveness.

    In addition to emphasising that the Budget aims to leverage market forces to promote infrastructure projects through innovative and diversified development models, he made it clear that government bonds will be issued to finance related projects.

    Despite a complicated and volatile external environment, the Chief Executive expressed his confidence that Hong Kong will be able to seize opportunities and continue to give full play to its unique advantages under the “one country, two systems” principle of having the strong support of the country while maintaining unparalleled connectivity with the world, and further strengthening its connection with both the Mainland and the world.

    “We will proactively integrate into and align with the country’s national development strategies, foster accelerated economic growth and improve people’s livelihood.

    “Like the Financial Secretary, I have full confidence in Hong Kong’s development and future.”

    Mr Lee called on all sectors of the community to support this Budget.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Diamond Mining Drives Angola’s Economic Growth Agenda

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

    CAPE TOWN, South Africa, February 27, 2025/APO Group/ —

    Angola is aiming to increase diamond production to 17.53 million carats by 2027 as part of its National Development Plan 2023–2027, planning to leverage mining revenues to boost food security, employment creation and poverty reduction. 

    The country expects diamond revenue to rise from $1.4 billion in 2024 to $2.1 billion in 2025, increasing the sector’s contribution to the country’s GDP. With over 24 operational diamond mines, 54 exploration projects and strong governmental support for industry expansion, Angola’s diamond sector presents an opportunity for economic transformation. 

    The upcoming African Mining Week (AMW) – Africa’s premier event for the mining sector – will showcase lucrative diamond prospects in both well-established and emerging markets across Africa, including in Angola. 

    Unlocking Angola’s Untapped Potential 

    Recent discoveries, project launches and foreign investments underscore Angola’s potential as a global diamond mining powerhouse. According to state diamond firm ENDIAMA, the country holds over 732 million carats (https://apo-opa.co/4gU61Zy) of untapped diamond reserves valued at more than $140 billion. To capitalize on these resources, ENDIAMA will launch a diamond production and processing pilot at the Luachimba facility in 2025, reinforcing the sector’s contribution to sustainable development. Additionally, mine development and feasibility studies at the Xamacanda facility are underway as ENDIAMA seeks to expand independent production. 

    Strategic Investments and Global Partnerships 

    In November 2024, Maden International Group, a subsidiary of the Sovereign Fund of the Sultanate of Oman, entered the Angolan market by acquiring stakes in Catoca and Luele Mines from Russia’s Alrosa. The milestone introduces fresh capital and expertise, potentially unlocking Angola’s greater diamond production and GDP expansion. Further affirming Angola’s potential, De Beers announced in October 2024 the discovery of eight new diamond project targets as part of its ongoing exploration activities. The discovery follows a strategic partnership with ENDIAMA, Angola’s National Agency of Mineral Resources, Sodiam and the Institution of Geologists in Angola, to conduct airborne surveys, drilling and testing of new kimberlite targets. Angola is also assessing new diamond and critical mineral prospects in partnership with Rio Tinto. 

    High-Grade Diamond Discoveries 

    In August 2024, Lucapa Diamond Company discovered a 176-carat diamond at the Lulo Mine – one of the world’s largest – marking the fifth diamond over 100 carats found at the site in 2024. The discovery underscores Angola’s potential for high-grade diamond production, following 20 significant discoveries at Lulo in 2022. 

    Amid these market developments, AMW represents an ideal platform for global investors and mining stakeholders to connect with Angolan regulatory authorities and projects to explore the country’s vast diamond potential. AMW will facilitate investment discussions, deal signings and strategic partnerships, reinforcing Angola’s position as one of the world’s highly attractive diamond investment destinations. 

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference (https://apo-opa.co/4ieTYqQ) from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

    MIL OSI Africa –

  • MIL-OSI Economics: Sionna Therapeutics’ NBD1 stabilizers hold potential to differentiate from Vertex’s existing therapies in cystic fibrosis, says GlobalData

    Source: GlobalData

    Sionna Therapeutics’ NBD1 stabilizers hold potential to differentiate from Vertex’s existing therapies in cystic fibrosis, says GlobalData

    Posted in Pharma

    Sionna Therapeutics has recently raised $191 million through its initial public offering (IPO), marking a step forward in its efforts to develop treatments for cystic fibrosis (CF). With Vertex Pharmaceuticals maintaining a dominant position in the CF treatment landscape through its CFTR modulator franchise, Sionna is looking to introduce its NBD1 stabilizers, SION-719 and SION-451, as an alternative approach. These candidates, which aim to address stability issues in the CFTR protein, could differentiate them from Vertex’s existing therapies, according to GlobalData, a leading data and analytics company.

    Sravani Meka, Senior Pharma Analyst at GlobalData, comments: “Sionna’s approach to stabilizing NBD1 is an interesting development in the CF space. While existing treatments have improved patient outcomes, there remains a need for additional options, particularly for those who do not respond optimally to current therapies.”

    Sionna’s IPO builds on its $182 million Series C funding round in 2024, providing financial support for its ongoing clinical development. The company expects topline Phase 1 data in 2025, with a Phase 2a trial selection expected shortly thereafter. Meanwhile, Vertex continues expanding its CF portfolio through strategic licensing deals, further shaping the competitive landscape. The Cystic Fibrosis Foundation’s $15 million investment into ReCode Therapeutics in November 2024 highlights the broader interest in next-generation CF treatments.

    Despite its progress, Sionna faces challenges, including Vertex’s strong market presence, regulatory hurdles, and payer access complexities. Other CF developers, such as AbbVie, with its ABBV-2222 and ABBV-3067, add further competition. Additionally, broader biotech M&A trends, exemplified by AbbVie’s $85.7 billion acquisition of Allergan, indicate that smaller companies like Sionna may explore partnerships or strategic collaborations to enhance their market positioning.

    Meka continues: “While Sionna’s IPO has drawn attention, its long-term success will depend on demonstrating clinical efficacy and navigating the complexities of market access. The CF treatment space remains highly competitive, requiring strong clinical data and a viable commercialization strategy.”

    Meka concludes: “Sionna’s IPO reflects investor interest in continued innovation within the CF treatment landscape. However, its ability to establish a foothold in the market will depend on clinical developments, regulatory progress, and its capacity to compete in an increasingly crowded space. The next few years will be critical in determining its role in the broader CF ecosystem.”

    MIL OSI Economics –

  • MIL-OSI United Kingdom: UK science flies to the Moon with NASA

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK science flies to the Moon with NASA

    Advanced technology funded by the UK Space Agency began its 4-month journey to the Moon this morning, on board NASA’s Lunar Trailblazer mission.

    The Lunar Trailblazer spacecraft, which weighs 200kg and is about the size of a washing machine, aims to map the location and form of water on the Moon. This will improve scientists’ understanding of lunar resources and support future missions, when astronauts return to the lunar surface.

    On board is the Lunar Thermal Mapper (LTM) – a state-of-the-art thermal imaging camera developed by the University of Oxford with £3.1 million funding from the UK Space Agency and the Department for Science, Innovation and Technology (DSIT).

    Science Minister Sir Patrick Vallance said:

    Backed by UK Government funding, this project could be key to unlocking new insights into lunar water and in turn sustain future missions and deep space exploration for generations to come.

    Space is a fast-growing global industry, and these investments will generate important information to help grow the sector.

    The LTM is designed to measure the surface temperature and the various minerals that make up the lunar landscape, which is vital information to help confirm the presence and location of water. The instrument will work in tandem with NASA’s High-resolution Volatiles and Minerals Moon Mapper (HVM3) to produce the most detailed maps of water on the Moon’s surface to date.

    The Lunar Thermal Mapper being worked on at Oxford University. Credit: Department of Physics, University of Oxford.

    Neil Bowles, instrument scientist for LTM at Oxford University, said:

    The measurements of temperature will help confirm the presence of the water signal in HVM3’s measurements and the two instruments will work together to map the composition of the Moon, showing us details that have only been hinted at from previously.

    The UK’s role in Lunar Trailblazer demonstrates the importance of collaboration in the space sector, and the significant space expertise found in academic institutions across the country.

    The Clarendon Lab at the University of Oxford, which includes the Infrared Multilayer Laboratory, manufactured infrared filters for the mission. Durham University manufactured the precision LTM optics, mirrors, and pointing mirror. Cardiff University provided long wave infrared mesh filters, essential for the Lunar Thermal Mapper’s ability to accurately measure the surface temperature and composition of the Moon.

    Lauren Taylor, Major Projects Lead at The UK Space Agency, said:

    The UK Space Agency is thrilled to be a part of NASA’s Lunar Trailblazer mission. Our work with the University of Oxford to develop the Lunar Thermal Mapper showcases the UK’s leading role in space exploration and scientific research.

    This mission will provide invaluable data on the Moon’s water resources, supporting future human missions and enhancing our understanding of the lunar environment.

    UK companies also made significant contributions. From Ramp in Yeovil providing coatings and paint, and Micro Systems in Warrington manufacturing mechanical parts, to STFC RAL Space in Harwell providing insulation and electronics.

    Marie-Claire Perkinson, Chair of the Space, Science and Exploration Committee at the UKspace trade association, said:

    The launch of the UK Lunar Thermal Mapper instruments demonstrates the capabilities of the UK academic community working in collaboration with their industrial suppliers.

    Once in orbit around the Moon, Lunar Trailblazer will cover the surface 12 times a day and use its instruments to examine features including the permanently shadowed craters at the Moon’s South Pole, which could contain significant quantities of water ice.

    Lunar Trailblazer launched on a SpaceX Falcon 9 rocket together with Intuitive Machine’s IM-2 spacecraft, which will attempt a soft landing on the Moon next week.

    The UK Space Agency is also funding the joint UK-Canada Aqualunar Challenge to further our understanding of lunar water and its potential uses. The Aqualunar Challenge focuses on developing innovative technologies to purify water found on the Moon, which is crucial for supporting future human missions. The winners will be announced in March.

    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Submissions: Indonesia: Flogging of gay men a horrifying act of discrimination

    Source: Amnesty International

    Responding to the flogging of two university students in Indonesia’s Aceh province for having consensual same-sex sexual relations, Amnesty International Deputy Regional Director Montse Ferrer said:

    “Indonesia’s flogging of two gay men is a horrifying act of discrimination. Intimate sexual relations between consenting adults should never be criminalized, and no one should be punished because of their real or perceived sexual orientation.

    “Having already had their privacy brutally invaded when they were ambushed by members of the public while having sex, these men were then humiliated in public today and physically harmed.

    “These flogging punishments are cruel, inhuman and degrading, and may amount to torture. Aceh and Indonesian central government authorities must take immediate action to halt these practices and revoke the bylaws that allow them to take place.

    “Such laws must be brought in line with international human rights law and standards, and with Indonesia’s obligations under its own Constitution. Aceh’s regional autonomy, which is its basis to apply Sharia law, must not come at the expense of human rights.”

     

    Background

     

    Two university students were publicly flogged in the city of Banda Aceh for having consensual same-sex relations. One of the men was flogged 77 times while his partner received a slightly higher punishment of 82 lashes for providing a place for their consensual sexual activities.

    According to media reports, the two were seized on 7 November 2024 by locals who forcefully entered their rented room in Banda Aceh and later took them to the Sharia police for investigation.

    Citizen’s arrests are common in Aceh due to the implementation of Sharia law, which allows locals to turn people over to the Sharia police for investigation.Aceh is the only province in Indonesia that criminalizes consensual same-sex acts due to the special autonomy status that has allowed it to apply the Islamic Criminal Code since 2015.

    Sharia bylaws have been in force in Aceh since the enactment of the province’s Special Autonomy Law in 2001 and are enforced by Islamic courts.

     

    These laws in some cases provide for up to 200 lashes as punishment for offences including consensual intimacy or sexual activity for unmarried couples, consensual sex outside marriage, same-sex sexual relations, the consumption and sale of alcohol, and gambling.

     

    Under international human rights law all forms of corporal punishment are prohibited as they constitute cruel, inhuman or degrading punishment and often torture.

     

    This year so far, 15 people have been sentenced to flogging in Aceh for various violations under Sharia law, in addition to a total 135 individuals receiving similar punishments in 2024.

     

    In a separate case, on 4 February 2025, Sharia police in the city of Lhokseumawe, Aceh, raided a house and arrested four men who they claimed were engaged in same-sex relations after receiving a tip-off from locals. After the arrest, local officials in Aceh said that they would patrol the province to monitor “LGBTI activities”, including in beauty salons where many transwomen make a living in Aceh. Subsequently, on 15 February, locals raided a rented room in Banda Aceh, turning one transwoman and a man over to Sharia police for investigation.

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: Preferred candidate to lead Office for Students confirmed

    Source: United Kingdom – Executive Government & Departments

    Press release

    Preferred candidate to lead Office for Students confirmed

    Professor Edward Peck CBE named as preferred candidate to be the next Chair of the Office for Students by Education Secretary

    The Education Secretary Bridget Phillipson has named Professor Edward William Peck CBE as her preferred candidate to be the next Chair of the Office for Students.

    Professor Peck will now go on to attend a pre-appointment hearing before the Education Select Committee on 4 March.

    The Office for Students (OfS) is the independent regulator of higher education in England. It is responsible for ensure that every student has a fulfilling university experience that enriches their lives and careers. Following last year’s election one of its top priorities has been monitoring the financial sustainability of the sector.

    Professor Peck has been selected following a rigorous assessment process conducted in accordance with the Governance Code on Public Appointments. He currently serves as Chair of the HE Mental Health Implementation Taskforce and is the DfE’s Student Support Champion, and will stand down as Vice Chancellor of Nottingham Trent University this summer.

    If appointed Professor Peck will take over from Sir David Behan, who was appointed interim chair last year following Lord Wharton of Yarm’s resignation. Sir David’s independent review, Fit for the Future, was published in July and is informing the OfS’s priorities on financial sustainability and quality. 

    Education Secretary Bridget Phillipson said:

    Professor Peck has played a key role in supporting students and has a wealth of experience that will be instrumental in guiding the OfS forward. I look forward to finalising his appointment. 

    He will play a vital part in supporting higher education providers’ financial sustainability and breaking down barriers to opportunity. Through our Plan for Change we want to ensure students from all backgrounds are at the heart of the higher education system, and receive a high quality education that will help them drive growth as we fix the foundations of our economy. 

    I would like to thank Sir David for his independent review and the work he has done as interim chair which will inform the strategic direction of the OfS as it implements his core recommendations.

    The Chair leads the OfS at board level, working with Ministers and the Chief Executive to provide clear leadership and priorities for the next phase of the OfS’ critical work.

    Since 2014 Professor Peck has served as Vice Chancellor of Nottingham Trent University, and currently holds roles as a trustee of UCAS, Chair of the HE Mental Health Implementation Taskforce and the DfE’s first Student Support Champion. Following his appointment he will stand down from these roles.

    He has also served on the Independent Advisory Panel for Post-18 Education and Funding (the Augar Review), and from 2008-2014 was Pro Vice-Chancellor and Head of the College of Social Sciences at the University of Birmingham.

    Following his pre-appointment hearing, the Education Select Committee will publish their recommendations, which the Education Secretary will consider before deciding whether to finalise the appointment.

    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Austria’s Regulatory Reporting Infrastructure to Move to the Cloud with Nasdaq AxiomSL

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq secures technology partnership with AuRep, a unique collaborative joint venture of banks and financial service providers in Austria

    Cloud-based platform will support early compliance with the EU’s Integrated Reporting Framework (IReF)

    NEW YORK and VIENNA, Feb. 27, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced it has signed an agreement with Austrian Reporting Services (AuRep) to provide the regulatory reporting technology that underpins the Austrian financial services industry. Founded in 2013, AuRep is a unique collaboration amongst major banks and financial service providers in Austria designed to consolidate regulatory reporting infrastructure onto a single, shared platform.

    The agreement will see around 90% of Austrian credit institutions move their regulatory reporting infrastructure to the cloud, upgrading their legacy on-premises solution to Nasdaq AxiomSL. It reflects the growing demand for regulatory technology solutions that simplify banks’ underlying architecture to more flexibly meet future requirements.

    “AuRep is a truly unique and innovative response to regulatory complexity and setting the global standard for simplifying regulatory reporting compliance,” said Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq. “European banks are subject to intense supervisory oversight and ever-greater reporting requirements, which is driving increasing demand for cloud-based platforms that can readily adapt to change while providing scalability and the highest standards of security. We are proud of our track record in delivering the highest quality regulatory reporting products and services and AuRep’s rigorous selection process has confirmed the same.”

    Staying ahead of regulatory change was critical for AuRep. By selecting Nasdaq AxiomSL as a Service (SaaS), AuRep is able to rapidly deploy regulatory updates and scale up capacity to deliver to the Austrian banking community. Future regulatory changes such as the EU’s incoming Integrated Reporting Framework (IReF) will be seamlessly integrated into the Nasdaq AxiomSL platform ensuring timely and cost-effective compliance. IReF seeks to harmonize statistical reporting across euro area banks, but will significantly increase the volume, granularity, and frequency of data submissions, meaning many will be unable to comply unless they modernize their underlying data architecture or seek cloud-based solutions.

    Kenneth Born, CEO at Aurep, said: “We selected Nasdaq AxiomSL to future-proof our Common Reporting Platform, optimized according to our Target Operating Model drawing on innovative, scalable, and fully compliant public cloud infrastructure. Adapting this software in line with the Austrian Central Bank’s granular Integrated Reporting Data Model, continues the success story of the Austrian standardized granular reporting platform. It enables banks to create and submit reports legally required under Austrian and European regulations, with tailored and efficient software in a consistent and highly standardized manner, while realizing economies of share.”

    Owned by the majority of Austrian Banking groups, AuRep operates a common regulatory reporting platform, offering an audit-proof, stable, and reliable framework for its members. It is the single point of contact for all reporting entities and financial service providers in the country, aggregating data into a central client-isolated reporting system, which then transmits data reliably and securely to the Central Bank of the Republic of Austria.

    Nasdaq AxiomSL is a comprehensive data management tool and regulatory reporting platform. It is designed to simplify regulatory reporting processes for banks and other financial services companies, recognizing that in an increasingly global and real-time financial ecosystem, institutions need modern compliance and regulatory reporting solutions that simplify a complex regulatory landscape. The platform allows clients to centralize and scale all current and future regulatory reporting processes from a single, cloud-enabled, end-to-end platform. It supports compliance with 110 regulators across 55 jurisdictions, backed by a global team of industry experts, supporting a quick time to market as banks expand into new markets or asset classes.

    Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,500+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Contacts

    Andrew Hughes; +44 (0)7443 100896; Andrew.Hughes@nasdaq.com

    Camille Stafford; +1 (234) 934 9513; Camille.Stafford@nasdaq.com

    Cautionary Note Regarding Forward-Looking Statements:

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will” and “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s AxiomSL platform. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    -NDAQG-

    The MIL Network –

  • MIL-OSI New Zealand: Remarks to joint press conference with Foreign Minister of Mongolia

    Source: New Zealand Government

    Ulaanbaatar, Mongolia 

    It is a pleasure for the New Zealand to be in Ulaanbaatar this afternoon. The welcome has been warm, even if the temperatures outside have not been. Though, your Ambassador tells me the temperature reached +1 degrees Celsius at midday today! Thank you to Foreign Minister Battsetseg for your generous hosting. 

    Despite our geographic distance, New Zealand and Mongolia share many commonalities: both small states committed to democracy, multilateralism, and the international rules-based order. 

    We also share proportional representation electoral systems, New Zealand since 1996, and Mongolia since 2024. 

    The New Zealand-Mongolia relationship is warm and long-standing. It is significant that this year we are marking 50 years since diplomatic relations were established in 1975. This is a seriously important milestone. 

    It was valuable exchanging views and experiences today with the Minister and colleagues, and discussing our respective regional and international priorities. 

    The New Zealand community here in Mongolia is small, but an important element to our relationship. We thank the New Zealand community – and Mongolians in New Zealand – for their support for this relationship, and for continuing to find exciting new ways to connect our countries. 

    Ties between our people continue to deepen. We continue to welcome Mongolian scholars to New Zealand, including through the long-standing English Language Training for Officials (“ELTO”) programme. 

    New Zealand is also pleased to provide targeted support to Mongolian NGOs and other groups through the New Zealand Embassy Fund. This has included support for sheep-shearer training programmes. This might sound ordinary, but shearing is a critical part of ensuring productivity! 

    This year we are contributing towards a rural water project, which will support over 100 families to access the water supply system. We are also helping Mongolian herders to build climate change resilience. 

    Once again, thank you to Foreign Minister Battsetseg and other senior Mongolian colleagues for your generous hosting on this important occasion. 

    And allow me to reiterate one last time what a special significance it is for me to be here today. 

    Thank you.

    MIL OSI New Zealand News –

  • MIL-OSI China: AI at core of developing new quality productive forces in Hong Kong: financial secretary

    Source: China State Council Information Office

    Hong Kong will endeavor to develop Artificial Intelligence (AI) as a core industry and empower traditional industries in their upgrading and transformation, the financial secretary of the Hong Kong Special Administrative Region (HKSAR) government said on Wednesday.

    While delivering the 2025-26 budget at the HKSAR’s Legislative Council, Paul Chan said that AI is at the core of developing new quality productive forces. Hong Kong will leverage the edge of “one country, two systems” and its internationalized characteristic to develop the city into an international exchange and cooperation hub for the AI industry.

    Chan said that to spearhead and support Hong Kong’s innovative R&D as well as industrial application of AI, he has set aside HK$1 billion (about $128.69 million) for the establishment of the Hong Kong AI Research and Development Institute.

    To bring together top talents in the industry to study the development and application of AI, the Hong Kong Investment Corporation Limited will host the first International Young Scientist Forum on Artificial Intelligence and the first International Conference on Embodied AI Robot, Chan added.

    Furthermore, the HKSAR government has established the Hong Kong Space Robotics and Energy Center under the InnoHK Research Clusters, with the aim of developing a multi-functional lunar surface operation robot, which will contribute to the country’s Chang’e 8 mission, Chan said.

    MIL OSI China News –

  • 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 Economics: Development Asia: Building Sustainable Vaccine Manufacturing Practices in Lower-Resourced Settings

    Source: Asia Development Bank

    Vaccines are inherently labile biologicals that require complex manufacturing and handling processes. Vaccine manufacturing requires multiple considerations, such as technical expertise, production capabilities, market demand, and stringent regulatory requirements. Underpinning these considerations is the need for sustainable funding. Vaccine manufacturing is a capital-intensive endeavor with facilities and equipment costing up to $700 million. This excludes the costs of product development, licensing, regulatory, and overhead costs, clubbed with a significant risk of development failure and unprofitability. Because of the high investments needed, there are often conflicting interests between commercial drivers and public health needs. The COVAX manufacturing task force highlighted key prerequisites for vaccine manufacturing to address future pandemic responses. These include a wide range of efforts, including upgrading manufacturing facilities to international standards, expanding the vaccine manufacturing workforce and regulatory capabilities, and enabling technology transfer.

    Maintaining quality throughout the process of vaccine production to delivery is paramount. As it involves many upstream and downstream processes, vaccine manufacturing demands a robust quality management system to ensure an uninterrupted supply of raw materials, consumables, current Good Manufacturing Practice-compliant facilities, and state-of-the-art equipment. Optimizing the scale-up of production, validation, and prompt resolution of technical issues are important to address when expanding the production capacity. The complexity of production is further constrained by vaccine lability, with many vaccines requiring cold chain maintenance during transportation and storage, some at very low temperatures. In addition, supply chain networks for manufacturing and packaging processes spread across different countries add to the complexity of producing consistently good quality batches of these susceptible biological products.

    From an economic perspective, investing in or scaling up vaccine manufacturing capacity has limited utility without sustainable demand. Overall vaccine demand depends on several factors: i) private, public, and donor market demands; ii) disease prevalence; iii) vaccine effectiveness and safety; iv) trust in the government and health system; and v) social norms, such as social influence, vaccination decisions of peers and vaccine free-riding behavior. For example, Gavi, the Global Vaccine Alliance, provides data on forecasting vaccine demand to assist stakeholders in understanding the vaccine market needs. On the supply side, health systems must also have adequate facility readiness to effectively deliver the vaccines.

    During the COVID-19 pandemic, expedited regulatory approvals were crucial for the rapid development, manufacturing, and delivery of vaccines. However, prior to the pandemic, fragmented regulatory requirements, complex quality control standards, and the lack of a central monitoring and coordinating system to manage capacity had hampered vaccine manufacturing efforts.

    Setting up sustainable vaccine manufacturing capabilities also depends on issues around intellectual property rights of the vaccines. The current Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) established by the World Trade Organization grants disproportionate market power to the bigger developers and manufacturers and leads to market oligopoly, further increasing the barrier of entry for smaller manufacturers. While technology transfer as a method of collaboration is proposed to improve efficiency in manufacturing, it requires extensive and transparent knowledge sharing and active support from the original manufacturers to reproduce the original vaccines with acceptable variations. This entire technology transfer process may take from 18 months up to 30 months as it involves a wide range of activities and expertise, including specialized skills, documentation, laboratory technicians, and regulation registration. In public health emergencies where it is essential to ramp up vaccine production, this timeline delays access to life-saving vaccines.

    Vaccine manufacturing also has a profound impact on the environment. Vaccine packaging material, which is essential for transport and storage, can raise costs including disposal expenses. There is a significant increase in glass, plastic, and rubber residues from vaccine containers as well. Combined with the added waste from the process of vaccination, such as needles and syringes that are often non-biodegradable, vaccine manufacturing greatly affects the environment.

    MIL OSI Economics –

  • MIL-OSI Economics: Development Asia: Ensuring Sustainable, Locally Relevant Vaccine R&D in Resource-Limited Settings

    Source: Asia Development Bank

    Decisions on vaccine platform choice should be context-specific.

    Various vaccine technologies or platforms are available to help the body defend against pathogens (Table 1). While mRNA-based vaccines were the fastest to be developed and the most effective against SARS-CoV-2, the technology is not a solution for all pathogens. Each vaccine platform has its advantages and limitations, and choosing one depends on factors such as the pathogen, immune response, outbreak situation, cost, and ease of manufacturing.

    The understanding of how the human body defends against different pathogens often guides vaccine technology selection. The two major protective, vaccine-induced immune components include: 1) neutralizing antibodies in the blood that can block infection and 2) immune T cells that kill infected cells. For example, the immune system combats bacterial infections through T-cell-dependent antibodies targeting the outer bacterial polysaccharide coating. As a result, most bacterial vaccines use polysaccharide conjugate vaccine technologies.

    Tackling pandemic versus endemic pathogens requires vastly different vaccine development considerations. During a pandemic, rapid vaccine development technologies, such as mRNA, are critical. However, for vaccines against endemic pathogens, priorities may shift to long-term immunity and cost-effectiveness. When developing vaccines in or for populations in low-resource settings, cost and manufacturing complexity are key considerations. Furthermore, up-to-date knowledge of the major circulating pathogen strains—both locally and globally—and their associated epidemiology should inform vaccine development.

    Investment in a range of vaccine platforms is critical for maximizing success.

    As countries tackle a vast range of emerging infectious diseases, experts recommend judicious R&D investments in a variety of platforms, as well as innovations in manufacturing. The “portfolio approach” by the Coalition for Epidemic Preparedness Innovations (CEPI) is a case in point. It refers to the deliberate investment in a diverse range of vaccine platforms. Portfolio diversification enhances overall success by ensuring that different platforms do not share the same features and risks of failure.

    Investment in early-stage R&D is instrumental for understanding how vaccine candidates provide protection and for generating evidence to support early go/no-go decisions in vaccine development. All vaccine R&D investments require a comprehensive assessment to evaluate market demand, barriers to access, and expected public health impact. For example, GAVI’s vaccine investment analysis framework aims to understand and capture the full value of vaccines, including social, economic, and population health benefits.

    CEPI’s 100-day mission proposes to build a global vaccine library to promote coordinated investments and a global collaborative network for rapid content sharing. This initiative aims to build a library of vaccine prototypes and incorporate AI tools to forecast virus variants for high-priority diseases before their emergence.

    Accelerating vaccine development requires multi-stakeholder effort.

    The COVID-19 pandemic highlighted the possibility of drastically shrinking clinical development timelines by combining clinical trial phases and using adaptive trial designs. The use of immune correlates of protection (CoP)—i.e., immune parameters responsible for vaccine-induced protection—also enabled the rapid licensure of several COVID-19 vaccines. This was achieved through bridging studies, where immunology results from completed clinical trials were extrapolated to different populations. Fundamental research on high-priority pathogens is therefore crucial for establishing and validating CoP for future pandemic pathogens. Newer methods, such as controlled human challenge models, offer further potential to provide rapid insights into protection and safety.

    Regulatory agility during the pandemic facilitated the expedited development of safe and high-quality vaccines. Similarly, regional and global collaboration in sharing manufacturing processes and vaccine safety and efficacy data further accelerated vaccine R&D. Therefore, continued data sharing, harmonization of regulatory requirements and resolving intellectual property issues will lead to faster availability of new vaccines during emergencies.

    Limited infrastructure, funding, technical expertise, operational and manpower limitations currently hamper trials in resource-limited countries. Equitable vaccine access may be facilitated through international public-private partnerships in vaccine development and technology transfer. Understanding the magnitude and extent of knowledge and expertise gaps in these countries is important for guiding capacity building initiatives.

    Affordability dictates the success of vaccine development programs in resource-limited countries.

    Innovative strategies are essential in ensuring financial sustainability of vaccine R&D in lower-resourced countries. Design and discovery of new and improved vaccine technologies usually require decades of investment in basic scientific research, which is mostly sustainable in high-resource settings. To level the playing field, initiatives such as the WHO mRNA transfer hub and private and philanthropic joint ventures like Hilleman laboratories are working to make new vaccine technologies more accessible to lower-resource countries through technology transfer mechanisms.

    Additionally, vaccine clinical trials require significant financial investments for setting up infrastructure, capacity development and clinical trial implementation. As a solution, WHO recently set up the Global Clinical Trials Forum to strengthen the clinical trial ecosystem in the Global South and promote domestic financing of clinical trials.

    Table 1: Major Vaccine Platforms and Considerations for Development in Resource Constrained Settings

    MIL OSI Economics –

  • MIL-OSI USA: SCHUMER, GILLIBRAND, GARBARINO, NADLER, KEAN, GOLDMAN INTRODUCE BIPARTISAN, BICAMERAL LEGISLATION TO FIX WORLD TRADE CENTER HEALTH PROGRAM FUNDING SHORTFALL

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Without Congressional Action, The WTCHP Will Have To Start Turning Away First Responders And Survivors, Cut Back Access To Care For Existing Enrollees By 2028

    Today, U.S. Senator Chuck Schumer (D-NY), U.S. Senator Kirsten Gillibrand (D-NY), and U.S. Representatives Andrew Garbarino (R-NY), Jerrold Nadler (D-NY), and Dan Goldman (D-NY) joined advocates and survivors to introduce the 9/11 Responder and Survivor Health Funding Correction Act of 2025. Representative Tom Kean (R-NJ) is also an original House cosponsor. 

    Despite recent congressional action, the World Trade Center Health Program (WTCHP) continues to face an impending funding shortfall. As a result, by October 2028, the program will be forced to close enrollment to new 9/11 responders and survivors, and existing enrollees will face direct cuts to their care and be denied medical monitoring and treatment. 

    The 9/11 Responder and Survivor Health Funding Correction Act of 2025 would update the program’s outdated funding formula to ensure adequate funding until the program’s expiration in 2090. The bill would also increase funding for data collection on 9/11-related conditions and expand access to mental health care for program members. 

    “‘Never Forget’ does not mean just commemorating 9/11, it is a promise to always take care of our 9/11 first responders and survivors. That’s why we are introducing legislation to stop funding patches and make this healthcare program funded permanently: now and forever,” said Senator Schumer. “Our 9/11 heroes should not have to come down here year after year, month after month, pleading for the funding for the healthcare they have earned, deserve, and was promised to them. It’s time for America to put its money where its mouth is and prove to the heroes of 9/11 that we mean it when we say will Never Forget.”

    “Yet again, we are introducing a bill to fix a projected funding shortfall in the World Trade Center Health Program,” said Senator Gillibrand. “Thousands of Americans risked their lives to protect our country in its darkest hour, and it is now our responsibility as members of Congress to be there for them as they continue to battle the horrific health ramifications from that day and the many days after. Our bill updates the funding formula for the WTCHP so that no 9/11 hero has to worry about losing coverage year after year. It is beyond time to get this passed, and I look forward to working across the aisle to do so.” 

    “Today, alongside my House and Senate co-leads, responders, and survivors, I was proud to announce the reintroduction of the 9/11 Responder and Survivor Health Funding Correction Act,” said Congressman Garbarino. “This legislation would ensure the World Trade Center Health Program has the resources it needs to continue providing care for those suffering from 9/11-related conditions. We made a promise to never forget, and today, we stood together to reaffirm our commitment to delivering on that promise.”

    “While over twenty years have passed since the 9/11attacks, so many of our heroic responders and survivors continue to carry with them the burden of that terrible day as they have fallen sick from the air surrounding Ground Zero,” said Congressman Nadler. “Congress must uphold the promise made to our first responders and survivors by fully funding the WTCHP to provide the injured and their families the aid they need and deserve. I’m proud to join my colleagues in introducing the 9/11 Responder and Survivor Health Funding Correction Act of 2025, which will address the funding shortfall to keep the program available for those who need it for years to come.”

    “Every New Yorker has been impacted by the profound loss and devastating pain from the September 11th attacks, including those like me who lived in Lower Manhattan at the time,” said Congressman Goldman. “We owe a permanent debt to the first responders and unwavering support for the survivors who continue to bear the physical and emotional scars. The 9/11 Responder and Survivor Health Funding Correction Act will ensure that these heroes receive the health care they are owed. As representatives of New York, it is our bipartisan duty to guarantee that these American heroes receive the assistance they deserve from the federal government.”

    “Everyone remembers the dark day of 9/11, a day etched in history,” said Congressman Kean. “We honor all who ran toward danger, risking everything to help those in need. As an original cosponsor of the 9/11 Responder and Survivor Health Funding Correction Act of 2025, I am committed to ensuring that the heroes and survivors of 9/11 receive the care and support they deserve. This bill corrects outdated funding formulas, expands mental health resources, and strengthens data collection to address the long-term health impacts of that tragic day. We have a responsibility to stand by those who sacrificed so much, and this legislation reaffirms that commitment.”

    In addition to Reps. Garbarino, Nadler, Goldman, and Kean the 9/11 Responder and Survivor Health Funding Correction Act of 2025 is cosponsored by Reps. Michael Lawler (R-NY), Laura Gillen (D-NY), Nick LaLota (R-NY), Ritchie Torres (D-NY), George Latimer (D-NY), Yvette Clarke (D-NY), Nick Langworthy (R-NY), Adriano Espaillat (D-NY), Claudia Tenney (R-NY), Pat Ryan (D-NY), Josh Riley (D-NY), Tom Suozzi (D-NY), Nydia Valazquez (D-NY), Paul Tonko (D-NY), Gregory Meeks (D-NY), Josh Gottheimer (D-NY), Brian Fitzpatrick (R-PA), Nicole Malliotakis (R-NY), Tim Kennedy (D-NY), Grace Meng (D-NY), and Alexandria Ocasio-Cortez (D-NY).

    “Cancer, COPD, Pulmonary Fibrosis and other serious respiratory illnesses are literally decimating the 9/11 Community from the toxic aftermath of 9/11,” said 9/11 advocate John Feal. “But we fail to mention the Toxic Redundancy in DC that continues to to take its toll on the deathly ill men & women, uniform and non uniform heroes and survivors who continue to travel over and over and over again to implore lawmakers to enact legislation again. The redundancy of traveling, the redundancy of being away from family, the redundancy of telling their stories, and the redundancy of me watching them die one by one. So one more time, no one last time we implore Congress to “ACT” now, so we can be left alone. The WTCHP is a lifeline for 140,000. $3 billion is a small ask for what we have been through dealing with our injuries, illnesses and most of all the redundancy we had to put up with for over two decades now. Together, today “WE” all have the opportunity “NOW” to stop the madness, the cruelty and redundancy!”

    “My name is Mariama James. I’m the daughter of two now late survivors dead of 9/11-related disease, the mom of three young survivors all with multiple WTC Health Program certifications, and I’m a health-impacted survivor myself,” said Mariama James, 9/11 survivor and advocate. “I stepped into this fight as a young woman, believing justice and care would swiftly follow the devastation of 9/11. Now, nearly 24 years later, I stand here still, imploring our leaders: fully and permanently fund the WTC Health Program. Time is not healing, it’s revealing the ongoing toll, and our commitment must match that reality.” 

    “Firefighters and officers are suffering from 9/11-related illnesses every day,” said Jim Brosi, President of the Uniformed Fire Officers Association. “Congress has a duty to uphold the promise made to first responders and ensure the WTCHP is fully funded for as long as our members need care. Access to treatment and medication is the least we can do for those who sacrificed their personal health to save the lives of countless victims.”

    “While it has been nearly 24 years since terrorists attacked our nation on 9/11, we still have daily reminders of the heavy price paid by the NYPD, FDNY, and first responders across this nation who willingly and selflessly answered the call to duty,” said NYPD Sergeants Benevolent Association (SBA) President Vincent Vallelong. “These brave men and women did not delay, they did not hesitate, and their actions in the weeks and months that followed September 11 gave our nation hope and the strength to rebuild.  The original Zadroga Act and the World Trade Center Health Program recognize our nation’s obligation to care for those first responders who sacrificed so much on that fateful day. The SBA is grateful for the continuing strong leadership of Sen. Gillibrand, Rep. Garbarino, Sen. Schumer, and the New York delegation in reintroducing the 9/11 Responder and Survivor Health Funding Correction Act and ensuring Congress fulfills its obligation to fully fund this critical program.”

    ““We walked the halls of Congress in 2010 to enact the World Trade Center Health Program, and again in 2015 to reauthorize this vital program to ensure our nation took care of those suffering from 9/11-related chronic health conditions as a result of the September 11, 2001 attacks on the United States. Attacks that left many Port Authority Police Officers with severe disabling and life-threatening illnesses contracted during the selfless performance of their duties in the World Trade Center Rescue and Recovery efforts,” said Frank Conti, President of the Port Authority Police Benevolent Association. “The WTCHP is facing a significant funding gap that, if not addressed by Congress, will impact its ability to provide necessary care to our nation’s 9/11 responders and survivors, including the officers we represent. We thank Senator Gillibrand and Representatives Garbarino and Goldman for their support, and we stand with them in urging Congress to pass the 9/11 Responder and Survivor Health Funding Correction Act now. This is not over…the sacrifice continues.”  

    “We fought for the enactment and near permanent reauthorization of the WTCHP as we view it as our obligation and duty to ensure that responders, who risked their lives to protect us, and survivors continue to receive the care that they deserve,” said Bill Johnson, Executive Director of the National Association of Police Organizations. “The 9/11 Responder and Survivor Health Funding Correction Act honors that obligation and ensures the WTCHP is fully funded. We thank Senator Gillibrand and Congressman Garbarino for their leadership and stand with them in support of this legislation.”

    We have vowed to never forget our heroes and survivors of the horrific attacks of 911. Yet, here we stand today, fighting for them once more. The actions Elon Musk has taken against the World Trade Center Health program are as insulting as they are inhumane. Our heroes and survivors deserve the utmost respect and the best possible care. I would like to thank the New York and New Jersey Republican members of Congress, led by Congressman Garbarino, for having the courage to stand shoulder to shoulder with us. Their actions were instrumental in having President Trump rescind the termination of many of the program’s key providers. Standing here in solidarity, hopefully Congressman Garbarino can convince more of his colleagues to do the right thing and fully fund the World Trade Center Health Program. As stated earlier we will never forget, and we will never go away until all our heroes and survivors are treated with the respect and dignity they deserve.” said Thomas Hart, President of Citizens for the Extension of the James Zadroga Act and President of Local 94 International Union of Operating Engineers.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Unmasks Biden’s Green Energy Mandates, Fights for Transparency

    US Senate News:

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

    WASHINGTON – Today, U.S. Senator Joni Ernst (R-Iowa), chair and founder of the Senate DOGE Caucus, blasted Washington’s overreach on the Senate floor, unmasking the Biden administration’s green energy agenda as a major driver behind the record-breaking 110,000 pages of regulations issued last year that hurt hardworking Americans.
    Ernst emphasized her Regulations Evaluated to Determine The Anticipated Price and Effect Act (RED TAPE Act) as the solution to hold rogue regulators accountable and prevent agencies from hiding how burdensome and expensive their regulations truly are.

    Watch Senator Ernst’s full remarks here.
    Ernst’s full remarks below:
    “Mr. President, for over a decade, I’ve led the charge to expose government abuses, curb reckless regulations, and protect hardworking taxpayers from Washington’s overreach.
    “As my colleagues have so rightly discussed, the very actions by the Biden administration made it necessary for President Trump to declare a National Energy Emergency on day one.
    “The Biden green energy programs artificially incentivized electric vehicles using billions of taxpayer dollars, with only 60 charging stations to show for it.
    “And folks, that’s just one of many energy-related billion-dollar boondoggles by the former administration.
    “As chair and founder of the Senate DOGE Caucus, I’m committed to preventing unchecked bureaucrats from issuing regulations that impose significant new costs and stifle growth.
    “Every day, DOGE is uncovering just how far the Biden administration went to conceal its reckless spending through the federal agencies, especially regarding their climate pet projects.
    “Instead of transparency and objective analysis, Biden’s bureaucrats relied on manipulation – inflated so called ‘net benefits’— and completely disregarded economic reality in their rulemakings. 
    “And they were prolific…churning out nearly 110,000 pages of regulations just last year, the highest number ever.
    “Between November 2023 and January 2025 alone, agencies issued 50 final rules using shady accounting gimmicks, slapping over half a trillion dollars in regulatory burdens onto hardworking Americans.
    “This included a relentless push to regulate truckers out of business, based on the audacious claim that its extreme emissions rules would somehow create $99 billion in benefits for society. 
    “But here’s the reality folks: these policies make everything more expensive for families, they kill jobs, and they hurt our small businesses.
    “And it doesn’t stop there.
    “The Department of Energy cited billions in so-called ‘climate net benefits’ and the ‘Social Cost of Greenhouse Gases’ to justify heavy-handed mandates, ignoring the very real costs passed on to farmers and manufacturers. 
    “For too long, unelected bureaucrats have ignored the voices of job creators and working families, pushing costly regulations while hiding the true impact.
    “This is why my RED TAPE Act is critical. My bill ensures agencies can no longer manipulate a cost-benefit analysis to push their own agenda.
    “It requires agencies to prioritize data-driven, measurable economic benefits, not vague, ideological justifications.
    “And while some federal employees complain about the new directives from the Trump administration, they should take a moment to understand that hardworking Americans who have had to show up to work and take risks to open businesses, will no longer tolerate having to foot the bill for regulatory overreach.
    “I am voting NO on this effort to end President Trump’s National Energy Emergency.
    “I support the President’s efforts to make energy more available and affordable to power economic growth.”

    MIL OSI USA News –

  • MIL-OSI Russia: Government restricts gasoline exports until August 31

    Translartion. Region: Russians Fedetion –

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

    Resolution of February 26, 2025 No. 229

    Document

    Resolution of February 26, 2025 No. 229

    The government is introducing a ban on the export of motor gasoline from March 1 to August 31 inclusive. The decree on this has been signed.

    The restriction will not apply to supplies carried out directly by producers of petroleum products.

    The decision was made to maintain a stable situation on the domestic fuel market, support the oil refining economy, and counteract the grey export of motor gasoline.

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Waimauku Automotive Launches TradeTyres

    Source: Press Release Service – Press Release/Statement:

    Headline: Waimauku Automotive Launches TradeTyres

    Waimauku, New Zealand – Feb 2025 – Waimauku Automotive, a well-established and trusted automotive service provider, is thrilled to announce the launch of its new online tyre retail platform. This exciting venture brings a vast selection of high-quality tyres at competitive prices directly to consumers, coupled with the reliable service Waimauku Automotive is known for.

    The post Waimauku Automotive Launches TradeTyres first appeared on PR.co.nz.

    – –

    MIL OSI New Zealand News –

  • MIL-OSI: BW Offshore: Fourth quarter and full year results 2024

    Source: GlobeNewswire (MIL-OSI)

    Fourth quarter and full year results 2024

    HIGHLIGHTS

    • Q4 EBITDA USD 72 million and 2024 EBITDA USD 318 million in line with guidance
    • Strong commercial performance with Q4 operating cashflow of USD 79 million and 2024 operating cashflow of USD 363 million
    • Robust balance sheet with an equity ratio 30.8% and USD 540 million in available liquidity
    • Q4 cash dividend raised to USD 0.14 per share
    • Increased cash flow in sight with Barossa FPSO on track for April sail-away
    • Full-year 2025 EBITDA guidance in the range of USD 220-250 million

    BW Offshore continues to progress the Barossa project according to schedule and well within the updated budget. As of end January 2025, construction and integration was 99% complete and commissioning at 85% completion. The vessel is currently being prepared for sail-away in late April. The FPSO is on track for first gas in mid-2025.

    For 2025, BW Offshore expects to report EBITDA in the range of USD 220 to 250 million. The EBITDA outlook reflects the firm backlog for BW Adolo and BW Catcher and the expected start of IFRS revenue recognition from BW Opal at full practical completion during the fourth quarter. Dayrate received for the BW Opal during the start-up and early production phase from mid-2025 will be amortised over the 15-year contract period. Contract negotiations for BW Pioneer are progressing well, however no guidance on EBITDA has been included beyond firm contract.

    The Board of Directors has declared a quarterly cash dividend of USD 0.14 per share. The shares will trade ex-dividend from 3 March 2025. Shareholders recorded in VPS following the close of trading on Oslo Børs on 4 March 2025, will be entitled to the distribution payable on or around 11 March 2025. The total dividend for 2024 amounts to USD 59.2 million, equal to 50% of net Income for the year.

    “We continue to maintain a strong balance sheet supported by consistent high commercial uptime and robust cash generation from the fleet with 2024 EBITDA above initial guidance. Our commitment to returning value to shareholders stands firm as reflected in the increased fourth-quarter dividend, and a total distribution for 2024 reflecting 50% of net profit for a second consecutive year,” said Marco Beenen, CEO of BW Offshore. “As BW Opal progresses to schedule and soon departs the yard in Singapore for the Barossa field, we are moving ahead with potential new FPSO projects that meet our selection criteria in a market with high tendering and FEED activity.”

    FINANCIALS
    EBITDA for the fourth quarter of 2024 was USD 71.9 million (USD 83.2 million in Q3). The EBITDA reflects solid operational performance across the FPSO fleet. Third quarter EBITDA was higher due to the final contribution from engineering and design work on the Sakarya project.

    EBIT for the fourth quarter was USD 30.8 million (USD 37.6 million).

    Net financial items were positive at USD 19.4 million (negative USD 16.4 million), of which net interest expense amounted to USD 3.0 million (USD 4.3 million). Fourth quarter was impacted by the recognition of a valuation gain on the finance liability related to the Barossa project, due to changes in timing of future expected cash flows and a positive mark-to-market adjustment on interest rate hedges resulting from an increase in swap rates.

    The share of loss from equity-accounted investments was USD 9.5 million, including a valuation adjustment on the Barossa finance receivable related to changes in timing of future expected cash flows (loss of USD 5.7 million).

    Net profit for the fourth quarter increased significantly to USD 40.8 million (USD 13.0 million).

    Total equity as of 31 December 2024 was USD 1 246.6 million (USD 1 208.6 million). The equity ratio was 30.8% at the end of the quarter (29.6%).

    As a result of strong cash generation from the fleet and the sale of BW Energy shares in 2024, the Company was net cash positive by USD 74.4 million as of 31 December 2024 (USD 38.4 million net cash positive at the end of September).

    Available liquidity was USD 540 million, excluding consolidated cash from BW Ideol and including USD 233.8 million available under the corporate loan facility.

    FPSO OPERATIONS
    The FPSO fleet continued to deliver stable uptime in the quarter with a weighted average fleet uptime of 99.2% (98.9% in the third quarter).

    BW Adolo delivered strong commercial performance as fourth quarter production increased to 37,150 barrels per day (bbls/day), resulting in strong cash flow stemming from the tariff under the contract that generate USD 1.5/bbl for the first 20,000 bbls/day of production and USD 3/bbl for production beyond 20,000 bbls/day.

    Performance from BW Catcher and BW Pioneer was stable and consistent with high commercial uptime.

    FPSO PROJECTS
    In January, BW Offshore was selected to perform the pre-FEED study for the Bay du Nord FPSO project by Equinor. The project reflects BW Offshore’s expertise in floating production solutions for harsh environment conditions, and commitment to delivering sustainable and innovative solutions. The pre-FEED study will play an important role in supporting Equinor’s strategic goals for the Bay du Nord development.

    LOW CARBON ENERGY SOLUTIONS
    BW Offshore is committed to contribute to the energy transition by developing low-carbon offshore energy production solutions, by leveraging FPSO expertise to deliver low-carbon energy and expand into new sectors, focusing on low-emission oil and gas, CO2 transport, gas-to-power and floating ammonia to meet evolving energy demands. The Company maintains a disciplined approach with selective and diligent allocation of capital and a commitment to creating shareholder value.

    BW Offshore also owns 64% of BW Ideol. BW Ideol is a leader in offshore floating wind technology and co-development, with over 14 years of experience in the development of floating wind projects.

    In December, BW Ideol’s project partners, EDF Renewables and Maple Power, were awarded the Mediterranean Tender (AO6) floating offshore wind project in France. The 250-megawatt (MW) development will leverage BW Ideol’s proprietary Damping Pool® technology, a proven solution that optimises the stability and performance of floating wind turbines in challenging marine environments. A total of 12 floating foundations and turbines are planned to be installed at the site.

    OUTLOOK
    Growing energy demand continues to drive interest in developing new infrastructure-type FPSO projects with long production profiles, low break-even costs and focus on lower emissions. Increased project complexity, combined with higher construction costs, necessitates financial structures with significant day rate prepayments during the construction period for new lease and operate projects.

    Alternatively, oil and gas majors may finance and own FPSOs, relying on FPSO specialists for the design, construction and installation scope, combined with operation and maintenance services. BW Offshore is well positioned to offer both solutions.

    In recent years, the number of sanctioned FPSO projects have lagged market expectations. Consequently, there is a growing number of projects at various stages of maturity, reflecting a pent-up demand for FPSOs. Increased FEED and tendering activity is a function of this, and BW Offshore expects that a number of the FPSO projects the Company is engaging with will reach a final investment decision over the next 12 to 36 months. The market dynamics, combined with the high competence levels required for project execution, should enable better risk-reward and improved margins for FPSO companies going forward.

    BW Offshore continues to selectively evaluate new projects that meet required return targets, offer contracts with no residual value risk after firm period, and provide a financeable structure with strong national or investment-grade counterparties.

    BW Offshore expects that the fleet will continue to generate significant cash flows in the time ahead, supported by the USD 5.3 billion firm contract backlog at the end of December 2024.

    Please see attached the Q4 Presentation. The earnings tables are available at:

    https://www.bwoffshore.com/ir/

    BW Offshore will host a webcast of the financial results 09:00 (CET) today. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

    Webcast information:
    You can follow the presentation via webcast with supporting slides and a Q&A module, available on:

    BW Offshore Limited – Q4 Presentation Webcast

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55
    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo Stock Exchange.

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

    Attachments

    The MIL Network –

  • MIL-Evening Report: Politics and property – how our leaders are among the privileged using legal loopholes to build their wealth

    Source: The Conversation (Au and NZ) – By Rod Campbell, Honorary fellow, Deakin University

    Not so long ago, former Liberal prime minister Malcolm Turnbull was branded “Mr Harbourside Mansion”, a moniker bestowed upon him by his own side of politics.

    Turnbull’s estimated A$200 million in wealth when he entered politics was well known. So too was the estimated $56 million in riches accrued outside of politics by Labor prime minister Kevin Rudd and his family.

    Not all politicians are multimillionaires like Turnbull and Rudd. But generally, they are wealthier than their constituents. They are also more likely to own more than one home.

    A recent ABC analysis of the parliamentary public interests register found 215 of Australia’s 227 members and senators own at least one property. 77 of them recorded interest in three or more properties.

    Out of touch pollies?

    Australians know their politicians tend to be richer than they are and sometimes it makes waves.

    Anthony Albanese’s purchase of a $4 million home on the New South Wales Central Coast dominated headlines for weeks, and it’s still being raised in focus and research groups as an issue with voters.

    Crucially, like Turnbull and Rudd’s wealth, Albanese’s cash splash on his coastal dream home has always been publicly available information.

    Veiled wealth

    But Opposition Leader Peter Dutton has mostly managed to skate by in the conversations about MPs and their money. He has kept the media’s focus on his brief career as a Queensland police officer, rather than the riches he has accrued through investing in property.

    While Dutton has not made a secret of his previous investments, and elements of his wealth have dripped into the public domain in the past, his affluence has rarely been discussed in whole terms. That changed this week with the Nine newspapers estimating his property investments at $30 million in transactions across 26 pieces of real estate.

    The portfolio, bought and sold over 35 years, eclipse Albanese’s property interests several times over.

    Dutton’s story highlights a tension that continues to frustrate voters: politicians who enjoy superior wealth are the ones who decide the financial circumstances of their constituents’ lives.

    Uncomfortable questions

    The stories highlighting Dutton’s prosperity have pointed out his past use of tax structures, including discretionary trusts, self-managed super funds and family companies to manage his money.

    Dutton has defended the millions he has made in property purchases. He’s accused his political rivals of mounting a “smear campaign” by trying to discredit him for being an “astute investor”.

    On the other side of politics, Albanese has refused to say if he used negative gearing before he became prime minister to reduce his tax bill.

    Exposing and debating the wealth of our leaders may be uncomfortable for them, but it’s an opportunity to push all sides of politics to address the aspects of our tax system that make it less fair.

    Tax loopholes for some

    The first thing to understand is that there are far fewer tax loopholes for avoiding tax on wages. If you work for a living, like most Australians, there are not many tax tricks for you.

    If you own assets and earn income from investments, however, things are a little different. How you own the assets is also important. Simply owning your own home is nice, but not as good as owning assets through a discretionary trust, a self-managed super fund, or a family company.

    Financial vehicles

    A discretionary trust is a way of holding income earning assets where the income stream can be split between beneficiaries. This means money can be directed to the people in the trust who face the lowest marginal tax rates, such as adult children, rather than a higher-earning parent, who faces a higher tax rate.

    The income earned from trusts overwhelmingly goes to high income earners. Treasury estimates (page 47) that the top 10% of income earners receive 63% of the income from trusts, while the bottom half of income earners get just 11% of the income.

    A self-managed super fund helps reduces taxation because of the various tax breaks for superannuation. For example, an owner might have their business in their self-managed super fund, with the income to the fund being taxed at a lower rate than it would have if it was owned in the business owner’s name.

    A family company, like trusts and self-managed super funds, is a vehicle for owning assets. If the assets are owned by a family company, then profits are subject to company tax rates. This can be as low as 25% if the company turnover is less than $50 million per year.

    All three of these asset-owning vehicles are entirely legal. And they can have legitimate uses. But they also provide tax loopholes that can be used to reduce the amount of tax someone has to pay and to obscure who actually owns the assets.

    Level the playing field

    This is fundamentally unfair. These structures for reducing tax are mostly only available to the wealthy. The average wage earner cannot structure their income through such complex tax structures.

    Scrapping the capital gains tax discount, getting rid of discretionary trusts, placing more limits on the types of assets that can be held in self-managed super funds, and increasing tax rates on people with big super balances would reduce the ability of the wealthy to avoid paying tax.

    It is hard to reform tax loopholes because most people don’t understand them and the people who do understand them reap the biggest benefits from them.

    The current discussion around Dutton’s investments might help more people become cognisant of these tax structures and how some of the biggest beneficiaries are politicians pretending to understand what it’s like to be a worker in a cost-of-living crisis.

    Rod Campbell is the Research Director at The Australia Institute, an independent research organisation based in Canberra. See www.australiainstitute.org.au

    – ref. Politics and property – how our leaders are among the privileged using legal loopholes to build their wealth – https://theconversation.com/politics-and-property-how-our-leaders-are-among-the-privileged-using-legal-loopholes-to-build-their-wealth-250929

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Planisware delivered strong revenue growth, profitability and cash generation in 2024

    Source: GlobeNewswire (MIL-OSI)

    Planisware delivered strong revenue growth, profitability and cash generation in 2024

    • Revenue up +17.4% in constant currencies to € 183.4 million
    • Adjusted EBITDA* up +23.7% to € 64.6 million, representing 35.2% of revenue (+180bps year-on-year)
    • Adjusted FCF* up +24.5% to € 54.6 million, representing a 84.5% cash conversion rate*
    • Proposed dividend representing 50% of profit for the period, above Group policy
    • 2025 objectives:
      • Mid-to-high teens revenue growth in constant currencies
      • c. 35% adjusted EBITDA margin*
      • Cash Conversion Rate* of c. 80%

    Paris, France, February 27, 2025 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its FY 2024 results. Revenue amounted to € 183.4 million, up by +17.3% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +17.4% (€+27.2 million), in line with the 17% to 18% 2024 objective. Recurring revenue amounted to € 162.7 million (89% of total revenue) and was up by +21.0% in constant currencies.

    Adjusted EBITDA1 reached € 64.6 million (+23.7% vs. FY 2023), representing 35.2% of revenue, above the c. 34% 2024 objective. The year-on-year improvement by c. +180 basis points resulted from revenue growth, positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    Current operating profit reached € 51.8 million, up by +20.8% compared to FY 2023 and Profit for the period amounted to € 42.7 million.

    Cash generation was particularly strong with adjusted FCF* reaching € 54.6 million, up by +24.5% year-on-year. It represented a cash conversion rate* of 84.5%, above the c. 80% 2024 objective. Net cash position* was € 176.1 million as of December 31, 2024, compared to € 142.6 million as of December 31, 2023 and € 156.4 million as of June 30, 2024.

    Loïc Sautour, CEO of Planisware, commented: “In 2024, Planisware continued to deliver sustainable and profitable growth. Despite significant uncertainties in the macroeconomic and geopolitical context, our clients continued to trust Planisware for their digital transformation and operational excellence efforts. These close relationships enabled us to deliver a robust revenue growth.

    We also delivered profitability and cash generation above this year’s objectives thanks to the continuous positive mix effect of our activities and further efficiencies on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    In parallel, Planisware’s CSR efforts were recognized by the EcoVadis gold medal award, the all-round Great Place to Work certification, and by a satisfying B score for our first rating by CDP. These distinctions illustrate Planisware’s rapid progress and ongoing commitment to building a more responsible society.

    For 2025, taking into account our strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, we set the mid-to-high teens range for revenue growth objective. We also intend to maintain a strong profitability and to keep delivering a best-in-class cash conversion rate.”

    FY 2024 revenue by revenue stream

    To address the needs of strategic defense-sector clients who require mission-critical solutions to operate on their own infrastructures rather than through Cloud-based SaaS, Planisware has introduced a new delivery mode that includes annual licenses. These multi-year agreements allow the solution to be licensed on a yearly basis. Planisware anticipates that this innovative delivery mode will be particularly relevant for companies with specific security and sovereignty requirements. Planisware reports this line of revenue for the first time in 2024, within its recurring revenue (under Planisware’s SaaS model), since first such contracts was signed in Q4 2024.

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 162.7 134.7 +20.8% +21.0%
    SaaS & Hosting 82.0 64.6 +27.1% +27.1%
    Annual licences 1.1 – N/A N/A
    Evolutive support 48.7 42.0 +16.0% +16.3%
    Subscription support 11.9 9.4 +26.5% +26.4%
    Maintenance 19.1 18.8 +1.8% +1.8%
    Non-recurring revenue 20.7 21.1 -1.7% -1.7%
    Perpetual licenses 7.5 5.7 +30.8% +30.8%
    Implementation & others non-recurring 13.3 15.4 -13.8% -13.8%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    Reaching € 183.4 million in 2024, revenue was up by +17.3% in current currencies and +17.4% in constant currencies. The exchange rates effect was almost mostly related to the appreciation of the euro versus the Japanese yen compared to FY 2023. In order to reflect the underlying performance of the Company independently from exchange rate fluctuations, the following analysis refers to revenue evolution in constant currencies, applying FY 2023 average exchange rates to FY 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 89% of 2024 total revenue versus 86% in 2023, recurring revenue reached € 162.7 million, up by +21.0%.

    Revenue growth was led by +24.1% growth of Planisware’s SaaS model (i.e. SaaS & Hosting, Evolutive & Subscription support, and Annual licenses), of which SaaS & Hosting revenue was up by +27.1% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +18.1%. Finally, Annual licenses contributed for €+1.1 million in Q4 2024.

    Maintenance revenue was up by +1.8% in the context of the Group’s shift from its prior Perpetual license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was slightly down by -1.7% over the year, with a contrasted trend of Perpetual licenses up by +30.8% and Implementation down by -13.8%.

    Perpetual licenses benefited from a strong demand for extensions and upgrades from existing customers with specific on-premises needs, mostly in the defense industry. On the other hand, Planisware’s focus on shorter implementations and faster delivery to customers, combined with project start delays, led to revenue decline in Implementation.

    FY 2024 revenue by region

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Europe 87.2 76.1 +14.7% +14.5%
    North America 80.3 68.5 +17.3% +17.3%
    APAC & ROW 15.9 11.2 +41.8% +44.0%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    In 2024, all key geographies contributed to Planisware revenue growth, although with contrasted contributions for each semester of the year:

    • Representing 44% of total revenue in 2024, North America strongly contributed to year-end growth (+19.0% in H2 2024) after having faced elongated customer’ decision-making processes translating into slower growth in non-recurring activities and Implementation services in particular over the first periods of the year (+15.6% in H1 2024). All in all, thanks to a significant level of cross-selling and up-selling with existing customers and new customer wins, North America grew by +17.3% over the year.
    • By contrast, after a decent growth in H1 2024 (+18.1%) driven in particular by strong dynamics in Germany, revenue growth in Europe significantly slowed down in H2 2024 (+11.4%) due to macroeconomic uncertainties and political concerns in France as well as difficulties seen in some of the Group’s key verticals such as automotive. As a result, revenue in Europe grew by +14.5% in 2024.
    • Planisware’s growth in APAC & rest of the world of +44.0% resulted from a strong commercial momentum in Japan, Singapore, and the Middle East, as well as from the consolidation of IFT KK and, to a lesser extent, of Planisware MIS.

    FY 2024 revenue by pillar

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Product Development & Innovation 97.8 87.5 +11.8% +11.9%
    Project Controls & Engineering 37.2 27.4 +35.7% +35.6%
    IT Governance & Digital Transformation** 32.2 26.8 +20.2% +20.1%
    Project Business Automation 15.9 13.6 +16.5% +17.0%
    Others 0.4 0.4 -5.7% -5.7%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    In 2024, all key pillars contributed to Planisware’s revenue growth with the most recent ones ramping-up as growth relays:

    • Product Development & Innovation (“PD&I”) drives R&D and product development teams with a focus on companies in the life sciences, manufacturing and engineering, automotive design and fast-moving consumer goods sectors. In 2024, it remained Planisware’s principal pillar, with 53% of total revenue and +11.9% growth, resulting from both new customer wins and the expansion of offerings to existing customers.
    • Project Controls & Engineering (“PC&E”) supports production teams in industries with sophisticated products, plants and infrastructure, such as aerospace and defense, energy and utilities, manufacturing and engineering and life sciences. While still a recent pillar for Planisware, it represented 20% of 2024 total revenue. Supported by the successful roll-out of offerings in North America, PC&E grew by +35.6%.
    • IT Governance & Digital Transformation (“IT&DT)** helps IT teams across all sectors develop comprehensive solutions to automate IT portfolio management, accelerate digital transformation and simplify IT architecture. IT&DT represented 18% of 2024 total revenue and grew by +20.1%, fueled by continuous cross-sell to Planisware clients needing to accelerate their digital transformation.
    • Project Business Automation (“PBA”) supports companies in all industries that seek to increase their revenue-based projects and enhance their operating results through automated processes. Due to a more recent entry of Planisware in the market relating to this pillar, PBA represented only 9% of 2024 total revenue and was up by +17.0% thanks to new customer wins and cross-selling.

    Commercial dynamic

    In 2024, despite elongated sales cycles, Planisware welcomed a significant number of new clients from a wide range of industries, further diversifying its customer base and solidifying its position as a trusted partner for organizations of all sizes. Revenue growth is driven both by contracts with new customers and the expansion of Planisware’s solutions and services within its existing customer base.

    In 2024, Planisware’s customer loyalty remained high, as translated in the 121% Net Retention Rate* (NRR), reflecting Planisware ability to grow within its installed base. At 2.2% of revenue, 2024 churn rate* remained low thanks to Planisware’ ability to leverage strong product capabilities and high industry recognition, resulting in high customer loyalty.

    FY 2024 key financial figures

    In € million FY 2024 FY 2023 Variation
    YoY
    Total revenue 183.4 156.4 +17.3%
    Cost of sales -50.1 -45.1 +11.1%
    Gross profit 133.3 111.3 +19.8%
    Gross margin 72.7% 71.2% +150 bps
    Operating expenses -81.5 -68.4 +19.1%
    Current operating profit 51.8 42.9 +20.8%
    Other operating income & expenses -5.7 3.0  
    Share of profit of equity-accounted investees**              – 0.3 -100.0%
    Operating profit 46.1 46.2 -0.1%
    Profit for the period 42.7 41.8 +2.1%
           
    Adjusted EBITDA* 64.6 52.2 +23.7%
    Adjusted EBITDA margin* 35.2% 33.4% +180 bps
           
    Adjusted FCF* 54.6 43.8 +24.5%
    Cash Conversion Rate* 84.5% 84.0% +60 bps
    Net cash position* 176.1 142.6 +23.5%

    * Net of tax
    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    Gross profit

    Cost of sales increased by €+5.0 million (or +11.1%) year-on-year to € 50.1 million. As a percentage of revenue, cost of sales decreased by -150 basis points thanks to a continued strict monitoring of costs, in particular with respect to recruitment, and the internalization of outsourced services.

    This enabled Planisware to deliver a € 133.3 million gross profit (+19.8% year-on-year), representing a 72.7% gross margin, a significant improvement of c. +150 basis points compared to 71.2% in 2023.

    Operating profit

    R&D expenses, consisting primarily of staff expenses directly associated with R&D teams, as well as amortization of capitalized development costs and the benefits from the French research tax credit, reached € 22.2 million and represented 12% of revenue compared to 13% in 2023. While Planisware intends to maintain a high level of R&D spending, the R&D efficiency improves thanks to the deployment of AI tools, boosting the Group’s ability to leverage its R&D efforts to provide innovative products and software solutions, expand its offering portfolio and promote its offerings in the project management market. In 2024, capitalized development costs amounted to € 2.5 million, +21.9% compared to € 2.0 million in 2023.

    Reaching € 33.3 million in 2024 (18% of revenue), Sales & marketing expenses increased by +23.1% compared to 2023, led in particular by the increase in employee-related costs in the salesforce and marketing team. Sales & marketing expenses are expected to increase in absolute amounts in the future as Planisware plans on strengthening its leading market position.

    Representing 14% of revenue in 2024, as in 2023, General & administrative expenses reached € 26.0 million. Planisware continued to strengthen its global support functions to contribute to the growth of the business and the international expansion of the Group. Planisware expects that, as the Company continues to scale up in the future, General & administrative expenses will slightly decrease as a percentage of revenue.

    As a result, current operating profit reached € 51.8 million in 2024, up by +20.8% compared to 2023.

    Other operating income & expenses amounted to a net expense of € 5.7 million related to IPO costs.

    As a results of the above, operating profit reached € 46.1 million in 2024, stable compared to € 46.2 million in 2023, which benefited from € 7.5 million non-taxable gains on remeasurement at fair value of investments in associates.

    Adjusted EBITDA

    Adjusted EBITDA** reached € 64.6 million, a strong increase compared to 2023 (€+12.4 million, or +23.7%). It represented 35.2% of 2024 revenue, c. +180 basis points compared to 33.4% in 2023. The increase of adjusted EBITDA reflects the revenue growth, a positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spending benefitting from increased usage of AI tools.

    Profit for the period and dividend

    Reaching € 5.4 million in 2024, financial income significantly increased compared to € 2.5 million in 2023. This was primarily driven by income from time deposits and realized and unrealized gains on marketable securities, as well as foreign exchange gains and losses arising from the revaluation at closing rates of cash and cash equivalents held in foreign currencies.

    Income tax expense amounted to € 8.8 million in 2024, up by +27.8% compared to € 6.9 million in 2023, in line with taxable profit increase.

    As a result of these evolutions, profit for the period reached € 42.7 million in 2024, up by +2.1% compared to 2023.

    Finally, subject to the approval of the Annual General Meeting of the Company’s shareholders and effective approbation of 2024 consolidated financial statements by the Board of directors, and in line with its historical dividend distribution, the Group will pay a dividend representing 50% of its profit for the period. This would represent € 21.4 million or € 0.31 per share.

    Cash generation and net cash position

    Reflecting the growth of subscription contracts billed in advance of the services rendered, change in working capital was €+2.5 million, compared to €+3.6 million in 2023 which benefited from a catch-up effect form negative change in 2022. Capital expenditures totaled € 5.5 million, representing 3.0% of revenue, compared to € 4.9 million in 2023 (3.1% of revenue), in line with the usual c. 3% level targeted. Tax paid in 2024 was € 8.4 million compared to € 7.5 million in 2023.

    As a result, Cash Conversion Rate* reached 84.5%, above the 80% level that the Group considers being the normative Cash Conversion Rate for the coming years, and adjusted Free Cash Flow* totaled € 54.6 million, +24.5% compared to € 43.8 million in 2023.

    As of December 31, 2024, except for lease liabilities related to offices and datacenter facilities which amounted to € 17.0 million (€ 14.9 million as of December 31, 2023) and small amounts of bank overdrafts, Planisware did not have any financial debt. As a result, the Group’s net cash position* as of December 31, 2024 amounted to € 176.1 million, compared to € 142.6 million as of December 31, 2023.

    2025 objectives

    Taking into account its strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, Planisware’s 2025 objectives are:

    • Mid-to-high teens revenue growth in constant currencies
    • c. 35% adjusted EBITDA margin*
    • Cash Conversion Rate* of c. 80%

    Appendices

    Q4 2024 revenue by revenue stream

    In € million Q4 2024 Q4 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 44.7 38.3 +16.7% +16.2%
    SaaS & Hosting 22.4 17.9 +25.3% +24.8%
    Annual licences 1.1 – N/A N/A
    Evolutive support 12.8 12.2 +5.0% +4.6%
    Subscription support 3.4 3.1 +9.8% +9.0%
    Maintenance 5.0 5.1 -2.5% -2.8%
    Non-recurring revenue 5.2 5.8 -11.2% -11.5%
    Perpetual licenses 1.3 2.1 -36.4% -36.7%
    Implementation & others non-recurring 3.8 3.7 +3.1% +2.8%
    Total revenue 49.9 44.1 +13.0% +12.5%

    * Revenue evolution in constant currencies, i.e. at Q4 2023 average exchange rates

    Non-IFRS measures reconciliations

    In € million FY 2024 FY 2023
    Current operating profit after share of profit of equity-accounted investee 51.8 43.2
    Depreciation and amortization of intangible, tangible and right-of-use assets 7.7 7.2
    Share-based payments 5.1 1.9
    Adjusted EBITDA** 64.6 52.2
    In € million FY 2024 FY 2023
    Net cash from operating activities 59.0 47.3
    Capital expenditures -5.5 -4.9
    Other finance income/costs -4.7 -2.8
    IPO costs paid 5.7 4.2
    Adjusted Free Cash Flow** 54.6 43.8

    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    FY 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on February 27, 2025 at 8:00am CET to details FY 2024 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • April 29, 2025:                 Q1 2025 revenue publication
    • June 19, 2025:                 Annual General Meeting of shareholders
    • July 31, 2025:                 H1 2025 results publication
    • October 21, 2025:         Q3 2025 revenue publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With circa 750 employees across 16 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit: https://planisware.com/ and connect with Planisware on LinkedIn.

    Disclaimer

    The primary financial statements for the year ended December 31, 2024 were approved by the Board of Directors on February 26, 2025. The audit procedures and verifications related to the information contained in the sustainability report are in progress. The full consolidated financial statements will be published on completion of these procedures.

    Forward-looking statements

    This document contains statements regarding the prospects and growth strategies of Planisware. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as “considers”, “envisages”, “believes”, “aims”, “expects”, “intends”, “should”, “anticipates”, “estimates”, “thinks”, “wishes” and “might”, or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that Planisware considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments.

    This information includes statements relating to Planisware’s intentions, estimates and targets with respect to its markets, strategies, growth, results of operations, financial situation and liquidity. Planisware’s forward-looking statements speak only as of the date of this document. Absent any applicable legal or regulatory requirements, Planisware expressly disclaims any obligation to release any updates to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances, on which any forward-looking statement contained in this document is based. Planisware operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.

    Rounded figures

    Certain numerical figures and data presented in this document (including financial data presented in millions or thousands and certain percentages) have been subject to rounding adjustments and, as a result, the corresponding totals in this document may vary slightly from the actual arithmetic totals of such information.

    Variation in constant currencies

    Variation in constant currencies represent figures based on constant exchange rates using as a base those used in the prior year. As a result, such figures may vary slightly from actual results based on current exchange rates.

    Non-IFRS measures

    This document includes certain unaudited measures and ratios of the Group’s financial or non-financial performance (the “non-IFRS measures”), such as “recurring revenue”, “non-recurring revenue”, “gross margin”, “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted Free Cash Flow”, “cash conversion rate”, “Net cash position”, “churn rate” and “Net Retention Rate” (or “NRR”). Non-IFRS financial information may exclude certain items contained in the nearest IFRS financial measure or include certain non-IFRS components. Readers should not consider items which are not recognized measurements under IFRS as alternatives to the applicable measurements under IFRS. These measures have limitations as analytical tools and readers should not treat them as substitutes for IFRS measures. In particular, readers should not consider such measurements of the Group’s financial performance or liquidity as an alternative to profit for the period, operating income or other performance measures derived in accordance with IFRS or as an alternative to cash flow from (used in) operating activities as a measurement of the Group’s liquidity. Other companies with activities similar to or different from those of the Group could calculate non-IFRS measures differently from the calculations adopted by the Group.

    Non-IFRS measures included in this document are defined as follows:

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.
    • Net Retention Rate (NRR) is the percentage of recurring revenue generated in a given year compared to the prior year by customers’ existing in the prior year, excluding terminated contracts, in constant currency.
    • Churn rate is defined as percentage of recurring revenue generated in year N-1, by customers terminating in year N, compared to recurring revenues generated by clients existing at the start of year N, in constant currency.

    1 Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document.

    Attachment

    The MIL Network –

  • MIL-Evening Report: New report slaps an official price tag on Australia’s precious natural assets

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    Roadwarrior Photography/Shutterstock

    Climate regulation through carbon storage was worth A$43.2 billion to Australia in 2020-21, according to a report released today which seeks to put a monetary value on the benefits flowing from our natural assets.

    Australia’s first national ecosystem accounts were released by the Australian Bureau of Statistics today. Together, they reveal the key ways our environment contributes to Australia’s economic and social wellbeing in dollar terms.

    Ecosystems covered by the accounts include desert, grasslands, native forests, rivers, streams, coastal areas and oceans.

    The accounts provide a holistic view of Australia’s land, freshwater and marine environments. They intend to help policymakers look beyond GDP to a broader measurement of how ecosystems contribute to society and the economy.

    Valuing our ecosystems

    The accounts cover services provided by Australia’s ecosystems in 2020–21.

    Australian ecosystems stored more than 34.5 billion tonnes of carbon – the most valuable service by ecosystems examined in the accounts, according to the ABS.

    It brought a $43.2 billion benefit to Australia in the form of climate regulation. Plants and other organisms reduce greenhouse gases in the atmosphere by removing and storing them. This helps stabilise the climate, avoiding damage caused by climate change.

    Grasslands made the biggest contribution to carbon storage, followed by native forests and savannas.

    The accounts show grazed biomass, or grasslands, provide $40.4 billion in benefits, through the forage provided to cattle and sheep. The dollar figure represents what farmers would otherwise have spent on feeding their livestock.

    The accounts also examined the provision of surface water taken from ecosystems, and used for drinking, energy production, cooling, irrigation and manufacturing. This was valued at $1.4 billion.

    The provision of wild fish, sold to consumers to eat, was put at $39.2 million.

    The accounts also reveal how coral reefs, sandbanks, dunes and mangroves protect our coastlines against tides and storm surges.

    The ABS estimates mangroves protected 4,006 dwellings around Australian coastlines. This prevented more than $57 million worth of building damage.

    The accounts also track changes in Australia’s ecosystems.

    Some 281,000 hectares of mostly farmland were converted to urban and industrial uses between 2015–16 and 2020–21. And 169,000 hectares of “steppe” land – flat, unforested grassland – was converted to sown pastures and fields.

    Feral animal and weed species continue to spread. Meanwhile, the number of threatened native species is increasing.

    Why do we need ecosystem accounting?

    Think of a logged forest. The value of the timber produced counts towards Australia’s gross domestic product. But cutting trees down also produces a loss. For example, the forest is no longer there for the community to enjoy. And it no longer provides “services” such as filtering water and preventing soil erosion.

    There are many reasons to measure the value of those services. For example, governments might then be able to charge a logging company a licence fee which reflects the community value of the forest. A government may decide the forest is too valuable to allow logging at all, or the fee may just be set too high for any company to find it profitable to log it.

    To date, the value lost when trees are cut down, or other ecosystems are damaged, has not been included in the national accounts. The new environmental accounts seek to change this.

    Obviously, ecosystems are complex and difficult to measure. The ABS has been guided by an international framework developed by the United Nations.

    The ecosystem accounts are a collaboration between several federal agencies: the ABS, the Department of Climate Change, Energy, the Environment and Water, and the CSIRO.

    Boundless plains and golden soil, girt by sea

    The accounts distinguish between environmental “realms”.

    About half of Australia’s terrestrial (dry land) realm is desert. About a quarter is savanna and grassland. Intensively used land, such as pastures, is a smaller proportion.

    There are contrasts between the states. Western Australia has 158 million hectares of desert while Victoria, Tasmania and the Australian Capital Territory have none. Queensland, Western Australia and the Northern Territory host 97% of Australia’s mangroves.

    About half of Australia is the marine realm, covering 681 million hectares. Some 30% of this is the marine shelf and 70% deep sea. About 14 million hectares comprise coral reefs. The darker areas in the map below show where most fish are caught.

    The coastal realm comprises mangroves and saltmarsh. In 2021, mangroves covered an estimated 1.1 million hectares of Australia’s coastal areas.

    A small but important proportion of Australia is our freshwater realm, comprising rivers and streams. The accounts show between 2015–16 and 2020–21, 4% of natural environments along perennial rivers were converted to higher intensity land uses.

    Where to now?

    These accounts are just the first step in estimating the value of Australia’s natural assets.

    The ABS will update Australia’s ecosystem accounts annually. It describes the inaugural accounts as “experimental” and says the government agencies involved will run a consultation process to improve them.

    We can expect the accounts to become more useful over time as data accrues and trends can be identified.

    According to the ABS, policy uses for the accounts include managing healthy and resilient ecosystems, and integrating biodiversity into planning.

    Poet and playwright Oscar Wilde defined a cynic as someone who “knows the price of everything but the value of nothing”. In today’s society we often underrate things that do not have a dollar value attached.

    So this compilation of Australia’s ecosystems, and their value to us, is a welcome development. It should lead to more informed, holistic decisions about whether natural assets should be protected, or damaged for economic benefit.

    John Hawkins 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. New report slaps an official price tag on Australia’s precious natural assets – https://theconversation.com/new-report-slaps-an-official-price-tag-on-australias-precious-natural-assets-250623

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Murkowski: In Alaska, We Do Have an Energy Emergency

    US Senate News:

    Source: United States Senator for Alaska Lisa Murkowski

    02.26.25

    Washington, DC – U.S. Senator Lisa Murkowski (R-Alaska) today voted against S.J.Res.10, a resolution to terminate the national energy emergency declared by President Trump on January 20, 2025. Murkowski spoke on the Senate floor in advance of the chamber’s vote to defeat the resolution, detailing the energy emergency in Alaska—which includes supply in Southcentral, affordability in rural and remote communities, and low throughput in the Trans-Alaska Pipeline System—while also pointing out the United States’ deep, self-inflicted vulnerabilities on mineral security.

    View Senator Murkowski’s remarks here

    A transcript of Murkowski’s floor statement is below.

    TRANSCRIPT

    Murkowski: Mr. President, I join my colleague from Utah, the Chairman of the Energy Committee, in speaking today in clear opposition to Senate Joint Resolution 10, which would terminate the energy emergency that has been declared by President Trump.

    I think my colleagues here on both sides of the aisle know that I’m not afraid to suggest when I think that the President may be heading in the wrong direction, but folks, on this one, he has absolutely, positively, clearly hit the mark. And I think that the Chairman of the Energy Committee has outlined in pretty good detail how that has come about.

    We know that our country is blessed with extraordinary, extraordinary assets. We have the potential to become the world’s leading resource superpower. But in order to do that, we have to be able to produce more energy domestically, and we have to be able to extract more minerals. We have to be able to build more transmission lines. We need to be able to overhaul what is clearly a broken federal permitting process. And we can do this.

    We can do this in a way that is cheaper, that is more reliable, more clean, than any other nation in the world. But wewe’ve got to kind of dig out now from where we have been over these past four years, where we saw setback after setback for resource producing states like mine, the state of Alaska.

    Let me give you a little detail in terms of what we’re facing in the state of Alaska, a state that, again, is known for its resource wealth.

    Right now, in the southcentral part of the state, we’re on the verge of importing LNG to meet the needs of some 75% of our population during the colder winter months. I’ll just repeat that: Alaska, the place where everybody knows we’ve got extraordinary oil resources, we have extraordinary natural gas potential, not only on the North Slope, but down in Cook Inlet. Well, Cook Inlet reserves are on the decline, and we are actually talking about importing LNG from Canada. That ought to just be considered a non-starter for anyone who knows and understands the extraordinary potential for resource development that we have in our state, with the wealth that we have.

    Right now, in some of our remote communities across the state, residents are truly in what I would describe as an energy emergency. They might not use that term anymore, because they’ve just gotten so used to the fact that they’re paying so much to keep their lights on and to keep warm. We have residents in many communities that are spending up to one half of their incomes on energy just to, again, to keep the lights on and to keep warm.

    Think about what that means when you’re spending half of what you what you make for just the basic necessities. It means that you have less to feed your family, to educate your kids. We’ve got communities where power costs 10 times the national average, where gasoline can easily exceed $10 a gallon, and that includes diesel as well. And those costs, of course, impact everything, everything – because you’ve got to move your food, your goods, usually by airplane, sometimes over the water, sometimes you’re able to drive it, but when you’re paying this much for diesel, gasoline, for avgas, it impacts everything.

    So, it’s not unusual to go into a village store and, if you can actually find a gallon of milk, see that it costs $18 a gallon. I do my comparison shopping by checking the prices of a box of Tide. People need to be able to wash their clothing for sanitary purposes. In almost every village that I’m going to, you’re looking at prices over $50 a box. $50 for a box of Tide laundry detergent. And it’s not because Tide is any more expensive than anything else, it’s just the reality of what we’re paying there. So, I think we’ve got an energy emergency when it comes to affordability.

    Right now, in our state, we also have an oil pipeline that is just one-quarter filled. We’ve had this pipeline pumping oil safely from the North Slope to delivery down in Valdez, going to other parts of the country for refining. That oil pipeline was completed in 1977 and has been producing for America ever since. But right now, it’s about one-quarter full. What’s happening is you have the federal government controlling most surrounding lands, and that has led to decreased opportunities to expand production up there, and a pipeline that again is about one-quarter full.

    I mentioned the benefits of oil here. I talked about natural gas, but we also have known deposits of about 50 critical minerals, the building blocks of our modern society and our national security. We have just about everything that our nation needs to break its deep dependence on China, to be able to rebuild our supply chains. But if you can’t access it, you can’t produce it, we can’t benefit from it.

    We tried to build a road from the Dalton Highway to the Ambler mining district that is explicitly provided by a 1980 federal law. We authorized this as part of a grand compromise. The road corridor was in exchange for creation of a massive National Park and Preserve. But we can get the Ambler project approved in one administration, only to have the next one come in, reopen it, ignore the law, and then make a political decision to reject it. And then here in Congress, we run into a partisan wall with some less interested in the rule of law than the whims of the very same environmental groups that pushed this resolution. And then meanwhile, what’s happening when we’re not able to produce in our own home states? China is cutting us off from its mineral exports, including the gallium and the germanium that we could produce from the Ambler district, if only the federal government would uphold its promise to allow Alaskans to responsibly access it.

    So, yeah, when I when I look at my home state, when I look at Alaska, I do see an energy emergency. I see several actually. And I see even more reasons to be concerned nationally. As the Chairman of the Energy Committee just noted, electricity demand is growing, and yet we can’t permit new power plants or build transmission lines. We can’t build pipelines in the Northeast or almost anything, particularly mines, on federal lands in the West. And you know, I’m listening to some of the arguments that are there being presented here, and maybe I’d feel differently if my home state was producing more than two million barrels of oil per day, as some are. But we’re not, and it’s not because we can’t, it’s because we’ve been denied the opportunity to do so. And that’s why I’m very thankful for President Trump and the administration for the focus that they have given to the state of Alaska with a specific executive order to allow us to unleash Alaska’s energy and resource potential.

    I have shared with the Secretary of the Interior, as well as the Secretary of Energy, that we need to stop treating energy like it’s some kind of an evil or a bad thing. We need to recognize that it is good. When I was chairman of the Energy Committee, we had a little bumper sticker, and I summed up my whole policy with: energy is good. I haven’t deviated from that policy. Energy makes us stronger, makes us less vulnerable, and it is an asset, not a liability, and we need to treat it as such.

    We need to be unleashing our resources, including all of our renewables, because that’s all part of the energy basket as well. So, it’s not an either-or, in my view, it’s all of the above. And that’s good for our economy. It’s good for our security, it’s good for our geopolitical power. America’s resource production is good for the global environment, because when we’re producing our resources, we stop paying countries that have little to no environmental standards, no interest in reducing their emissions, who often rely on child slave labor, and who frankly don’t even like us. So why not seize the opportunities we have here?

    Why not seize the opportunities that we have here, benefit our own people, our own economies, and again, benefit the global environment as well? If an energy emergency helps us figure this all out, then I’m good with that. And if it helps us remove the federal sanctions that we have seen on Alaska and returns my state to the heart of our national strategy for resource production, then that is also good. I think we’ll all be better off.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Council backs funding for Auckland’s St James Theatre

    Source: Auckland Council

    Auckland Council has backed a commitment of $15 million towards the restoration of the St James Theatre. The council’s funding is one part of an agreement between the council, central government and the owner of the St James.  

    The decision to uphold the grant came at today’s Governing Body meeting. Mayor Wayne Brown says the council’s commitment will enable public access to the theatre in the future.

    “I’m keen to get on with things to improve the safety and amenity of mid-town Auckland as a priority. My expectation is the funding will allow work to begin immediately to clean up the eyesore on Queen Street at the same time as the theatre restoration. Residents and visitors will hopefully see an improvement to this important part of the city as a result. It’s been left like this far too long,” says Mayor Brown. 

    How will the funding help?  

    This decision cements the pledge made by Auckland Council in 2016. The council is only one piece of this puzzle, and the restoration requires funding from all the parties involved to go ahead.  

    The funding will help to carry out critical foundational and strengthening work which aims to prepare the St James to operate for many years to come. It will enable the theatre to reopen and be operational, with a total capacity of approximately 900 people seated, or 1800 standing.  

    A star-studded past 

    Designed by architect Henry Eli White, St James Theatre is a unique blend of traditional and Spanish-renaissance styles. It sits at the heart of central Auckland’s arts quarter between the art gallery, library, Civic Theatre and Town Hall. Conservation of the St James will positively complement other critical investments and rejuvenation efforts in central Auckland.   

    After first opening its doors in 1928 as a Vaudeville theatre, the St James was part of a wave of theatres built worldwide in the 1920s for live performance. It was later converted to show off the new world of motion pictures. Notable performers such as Laurence Olivier and Vivien Leigh have graced the St James stage over its long history, as well as James Brown, Miles Davis, Joni Mitchell and Aotearoa New Zealand’s own Sir Howard Morrison.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Gillibrand, Schumer, Garbarino, Nadler, Kean, Goldman Introduce Bipartisan, Bicameral Legislation To Fix World Trade Center Health Program Funding Shortfall

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand
    Without Congressional Action, The WTCHP Will Have To Start Turning Away First Responders And Survivors, Cut Back Access To Care For Existing Enrollees By 2028
    Today, U.S. Senator Kirsten Gillibrand (D-NY), Minority Leader Chuck Schumer (D-NY), and U.S. Representatives Andrew Garbarino (R-NY), Jerrold Nadler (D-NY), and Dan Goldman (D-NY) joined advocates and survivors to introduce the 9/11 Responder and Survivor Health Funding Correction Act of 2025. Representative Tom Kean (R-NJ) is also an original House cosponsor. 
    Despite recent congressional action, the World Trade Center Health Program (WTCHP) continues to face an impending funding shortfall. As a result, by October 2028, the program will be forced to close enrollment to new 9/11 responders and survivors, and existing enrollees will face direct cuts to their care and be denied medical monitoring and treatment. 
    The 9/11 Responder and Survivor Health Funding Correction Act of 2025 would update the program’s outdated funding formula to ensure adequate funding until the program’s expiration in 2090. The bill would also increase funding for data collection on 9/11-related conditions and expand access to mental health care for program members. 
    A full recording of the press conference is available here. 
    “Yet again, we are introducing a bill to fix a projected funding shortfall in the World Trade Center Health Program,” said Senator Gillibrand. “Thousands of Americans risked their lives to protect our country in its darkest hour, and it is now our responsibility as members of Congress to be there for them as they continue to battle the horrific health ramifications from that day and the many days after. Our bill updates the funding formula for the WTCHP so that no 9/11 hero has to worry about losing coverage year after year. It is beyond time to get this passed, and I look forward to working across the aisle to do so.” 
    “‘Never Forget’ does not mean just commemorating 9/11, it is a promise to always take care of our 9/11 first responders and survivors. That’s why we are introducing legislation to stop funding patches and make this healthcare program funded permanently: now and forever,” said Senator Schumer. “Our 9/11 heroes should not have to come down here year after year, month after month, pleading for the funding for the healthcare they have earned, deserve, and was promised to them. It’s time for America to put its money where its mouth is and prove to the heroes of 9/11 that we mean it when we say will Never Forget.”
    “Today, alongside my House and Senate co-leads, responders, and survivors, I was proud to announce the reintroduction of the 9/11 Responder and Survivor Health Funding Correction Act,” said Congressman Garbarino. “This legislation would ensure the World Trade Center Health Program has the resources it needs to continue providing care for those suffering from 9/11-related conditions. We made a promise to never forget, and today, we stood together to reaffirm our commitment to delivering on that promise.”
    “While over twenty years have passed since the 9/11attacks, so many of our heroic responders and survivors continue to carry with them the burden of that terrible day as they have fallen sick from the air surrounding Ground Zero,” said Congressman Nadler. “Congress must uphold the promise made to our first responders and survivors by fully funding the WTCHP to provide the injured and their families the aid they need and deserve. I’m proud to join my colleagues in introducing the 9/11 Responder and Survivor Health Funding Correction Act of 2025, which will address the funding shortfall to keep the program available for those who need it for years to come.”
    “Every New Yorker has been impacted by the profound loss and devastating pain from the September 11th attacks, including those like me who lived in Lower Manhattan at the time,” said Congressman Goldman. “We owe a permanent debt to the first responders and unwavering support for the survivors who continue to bear the physical and emotional scars. The 9/11 Responder and Survivor Health Funding Correction Act will ensure that these heroes receive the health care they are owed. As representatives of New York, it is our bipartisan duty to guarantee that these American heroes receive the assistance they deserve from the federal government.”
    “Everyone remembers the dark day of 9/11, a day etched in history,” said Congressman Kean. “We honor all who ran toward danger, risking everything to help those in need. As an original cosponsor of the 9/11 Responder and Survivor Health Funding Correction Act of 2025, I am committed to ensuring that the heroes and survivors of 9/11 receive the care and support they deserve. This bill corrects outdated funding formulas, expands mental health resources, and strengthens data collection to address the long-term health impacts of that tragic day. We have a responsibility to stand by those who sacrificed so much, and this legislation reaffirms that commitment.”
    In addition to Reps. Garbarino, Nadler, Goldman, and Kean the 9/11 Responder and Survivor Health Funding Correction Act of 2025 is cosponsored by Reps. Michael Lawler (R-NY), Laura Gillen (D-NY), Nick LaLota (R-NY), Ritchie Torres (D-NY), George Latimer (D-NY), Yvette Clarke (D-NY), Nick Langworthy (R-NY), Adriano Espaillat (D-NY), Claudia Tenney (R-NY), Pat Ryan (D-NY), Josh Riley (D-NY), Tom Suozzi (D-NY), Nydia Valazquez (D-NY), Paul Tonko (D-NY), Gregory Meeks (D-NY), Josh Gottheimer (D-NY), Brian Fitzpatrick (R-PA), Nicole Malliotakis (R-NY), Tim Kennedy (D-NY), Grace Meng (D-NY), and Alexandria Ocasio-Cortez (D-NY).
    “Cancer, COPD, Pulmonary Fibrosis and other serious respiratory illnesses are literally decimating the 9/11 Community from the toxic aftermath of 9/11,” said 9/11 advocate John Feal. “But we fail to mention the Toxic Redundancy in DC that continues to to take its toll on the deathly ill men & women, uniform and non uniform heroes and survivors who continue to travel over and over and over again to implore lawmakers to enact legislation again. The redundancy of traveling, the redundancy of being away from family, the redundancy of telling their stories, and the redundancy of me watching them die one by one. So one more time, no one last time we implore Congress to “ACT” now, so we can be left alone. The WTCHP is a lifeline for 140,000. $3 billion is a small ask for what we have been through dealing with our injuries, illnesses and most of all the redundancy we had to put up with for over two decades now. Together, today “WE” all have the opportunity “NOW” to stop the madness, the cruelty and redundancy!”
    “My name is Mariama James. I’m the daughter of two now late survivors dead of 9/11-related disease, the mom of three young survivors all with multiple WTC Health Program certifications, and I’m a health-impacted survivor myself,” said Mariama James, 9/11 survivor and advocate. “I stepped into this fight as a young woman, believing justice and care would swiftly follow the devastation of 9/11. Now, nearly 24 years later, I stand here still, imploring our leaders: fully and permanently fund the WTC Health Program. Time is not healing, it’s revealing the ongoing toll, and our commitment must match that reality.” 
    “Firefighters and officers are suffering from 9/11-related illnesses every day,” said Jim Brosi, President of the Uniformed Fire Officers Association. “Congress has a duty to uphold the promise made to first responders and ensure the WTCHP is fully funded for as long as our members need care. Access to treatment and medication is the least we can do for those who sacrificed their personal health to save the lives of countless victims.”
    “While it has been nearly 24 years since terrorists attacked our nation on 9/11, we still have daily reminders of the heavy price paid by the NYPD, FDNY, and first responders across this nation who willingly and selflessly answered the call to duty,” said NYPD Sergeants Benevolent Association (SBA) President Vincent Vallelong. “These brave men and women did not delay, they did not hesitate, and their actions in the weeks and months that followed September 11 gave our nation hope and the strength to rebuild.  The original Zadroga Act and the World Trade Center Health Program recognize our nation’s obligation to care for those first responders who sacrificed so much on that fateful day. The SBA is grateful for the continuing strong leadership of Sen. Gillibrand, Rep. Garbarino, Sen. Schumer, and the New York delegation in reintroducing the 9/11 Responder and Survivor Health Funding Correction Act and ensuring Congress fulfills its obligation to fully fund this critical program.”
    ““We walked the halls of Congress in 2010 to enact the World Trade Center Health Program, and again in 2015 to reauthorize this vital program to ensure our nation took care of those suffering from 9/11-related chronic health conditions as a result of the September 11, 2001 attacks on the United States. Attacks that left many Port Authority Police Officers with severe disabling and life-threatening illnesses contracted during the selfless performance of their duties in the World Trade Center Rescue and Recovery efforts,” said Frank Conti, President of the Port Authority Police Benevolent Association. “The WTCHP is facing a significant funding gap that, if not addressed by Congress, will impact its ability to provide necessary care to our nation’s 9/11 responders and survivors, including the officers we represent. We thank Senator Gillibrand and Representatives Garbarino and Goldman for their support, and we stand with them in urging Congress to pass the 9/11 Responder and Survivor Health Funding Correction Act now. This is not over…the sacrifice continues.”  
    “We fought for the enactment and near permanent reauthorization of the WTCHP as we view it as our obligation and duty to ensure that responders, who risked their lives to protect us, and survivors continue to receive the care that they deserve,” said Bill Johnson, Executive Director of the National Association of Police Organizations. “The 9/11 Responder and Survivor Health Funding Correction Act honors that obligation and ensures the WTCHP is fully funded. We thank Senator Gillibrand and Congressman Garbarino for their leadership and stand with them in support of this legislation.”
    We have vowed to never forget our heroes and survivors of the horrific attacks of 911. Yet, here we stand today, fighting for them once more. The actions Elon Musk has taken against the World Trade Center Health program are as insulting as they are inhumane. Our heroes and survivors deserve the utmost respect and the best possible care. I would like to thank the New York and New Jersey Republican members of Congress, led by Congressman Garbarino, for having the courage to stand shoulder to shoulder with us. Their actions were instrumental in having President Trump rescind the termination of many of the program’s key providers. Standing here in solidarity, hopefully Congressman Garbarino can convince more of his colleagues to do the right thing and fully fund the World Trade Center Health Program. As stated earlier we will never forget, and we will never go away until all our heroes and survivors are treated with the respect and dignity they deserve.” said Thomas Hart, President of Citizens for the Extension of the James Zadroga Act and President of Local 94 International Union of Operating Engineers.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Universities – Wāhine toa and women’s health champion a finalist for Kiwibank New Zealander of the Year – Vic

    Source: Te Herenga Waka—Victoria University of Wellington

    Professor Bev Lawton ONZM (Ngāti Porou), founder of Te Tātai Hauora o Hine, Te Herenga Waka—Victoria University of Wellington’s national centre for women’s health research, gets up every morning to save lives—and she’s up for the 2025 Kiwibank New Zealander of the Year award for her groundbreaking research.

    Throughout her career, first as a GP, then as founder of Te Tātai Hauora o Hine, Bev has sought to reduce preventable harm and death for Māori and non-Māori women, their children and whānau. With a kaupapa Māori lens, she focuses on clinical care pathways, and systems to identify how these can better perform for women, babies, and whānau.

    “Every member of my team works to eliminate preventable harm and death for women, babies, and whānau. One such goal includes eliminating cervical cancer. With the taonga of vaccination, and HPV self-testing, this is now achievable,” says Bev.

    The achievement Bev is most proud of in her career is her advocacy for HPV self-testing. She says, “The voices of women in Aotearoa New Zealand have contributed to everything about the way in which this programme has been implemented. It was research in real-time. Those that had had the test as part of research projects, were informing the programme as it was being rolled out.”

    “Regularly I meet people who tell me they were not just happy to do their HPV self-test, they were proud of it—because they own it, and they tell their friends to do it too. It is reaching a lot of people. Screening rates are going up.”

    Bev is a partner in the ongoing campaign to eliminate cervical cancer. “We have the tools, but it will require funding, and a plan. The introduction of HPV self-testing in September 2023 is a fantastic step, but our HPV vaccination coverage is very low in comparison to Australia, where their government has committed nearly $50m to support the national elimination strategy.

    “If I had a wish, it is that tomorrow, myself and every woman in Aotearoa be literally or figuratively, standing behind the Minister of Health when they announce their commitment to resourcing a cervical cancer elimination strategy.”

    Previous Patron of Te Tātai Hauora o Hine and advisory board member Dame Silvia Cartwright says, “Over many years of association with Bev, I have been deeply impressed both by the quality and breadth of her research, but also by the skill she has demonstrated in nurturing the work of a whole generation of younger researchers who share her passion for the improvement in health care delivery. Bev has the rare ability to gather wide support for her work, but also to make it available at every level of the health care community. Her academic rigour and advocacy for improvement in health care together make her stand out in a field where it is notoriously difficult to achieve real, practical results.”

    Working with iwi and communities, including Ngāti Pāhauwera, Ngāti Porou and Ngāti Toa, Bev leads projects and programmes to create positive, long term health system transformation. Each, she says, comes from years of relationship-building across iwi, hapū, health care providers and champions—all with the overall goal or serving community to reduce harm and save lives.

    Bev speaks to the impact of having a rōpū Kaumātua advising her, saying, “The kaumātua ensure our mahi is tika (true) and responds to community. I get the right people on the waka. It’s not just my effort that has achieved the successes we have had in women’s health. It takes a lot of people to make this happen, as well as our vision for māmā and pēpi flourishing,” says Bev.

    Deputy Vice-Chancellor, Māori, Professor Rawinia Higgins says, “Bev’s career exemplifies how research can create real-life, meaningful change. Her research shapes a better world, where women and children live longer, healthier lives.

    “Her ability to collaborate with health providers, policy advisers, kuia kaumātua, funders, and people in the Māori community, exemplifies what we as a university want to achieve through research. Her achievement, to become a finalist in these prestigious awards, is superbly well-deserved—and if one more person self-tests because they’ve seen her story and experienced her advocacy, then she has achieved her goal.”

    The other two finalists in New Zealander of the Year are Dame Lisa Carrington for pushing boundaries in sport and inspiring the next generation, and Sarah Hirini ONZM for redefining what is possible on and off the rugby field.

    The winners will be announced at a ceremony at the Viaduct Events Centre in Auckland on 20 March.

    MIL OSI New Zealand News –

  • MIL-OSI USA: 02.26.2025 Sen. Cruz, Rep. Roy Reintroduce RESULT Act to Increase Access to Life-Saving Medical Care

    US Senate News:

    Source: United States Senator for Texas Ted Cruz
    WASHINGTON, D.C. – U.S. Senator Ted Cruz (R-Texas) and U.S. Rep. Chip Roy (R-Texas-21) reintroduced the bicameralReciprocity Ensures Streamlined Use of Lifesaving Treatments (RESULT) Act. The legislation increases access to drugs, devices, and other medical therapies already approved in other trusted countries, facilitating access to life-saving treatments for Americans.
    Upon introduction, Sen. Cruz said, “Washington bureaucracy and regulations far too often interfere with the healthcare decisions of patients and their doctors.  The RESULT Act will facilitate access to life-saving drugs, devices, and medical treatments that are already proven safe and effective in other trusted countries, empowering patients to access the medications they need to improve their health. I’m proud to be advancing it, and I call upon my colleagues to expeditiously take it up and pass it.”
    Sen. Lee said, “Americans should have access to the very best medicines and treatments in the world, without government bureaucrats standing in the way. This legislation will strengthen medical freedom, increase healthcare options for patients, and allow the most brilliant innovations from our trusted allies across the globe to help countless families in the United States.”
    Rep. Roy said, “Waiting for a pencil-pusher in Washington to green-light medications that are already approved in other trusted countries is the epitome of the bureaucratic nightmare that has plagued our healthcare system. This bill would cut through a wall of red tape that separates Americans from getting the care that they need, which means prioritizing their healthcare freedom.”
    This legislation was also cosponsored by Sen. Mike Lee (R-Utah).
    Companion legislation was introduced in the House by Rep. Chip Roy (R-Texas-21).
    Read the bill text here.
    BACKGROUND
    The RESULT Act amends the Food, Drug and Cosmetic Act to allow for reciprocal approval of drugs, devices and biologics approved in certain trusted countries, including the UK, EU member countries, Israel, Australia, Canada, and Japan. Sen. Cruz previously introduced the bill in 2023 and 2021.

    MIL OSI USA News –