NewzIntel.com

Category: Politics

  • MIL-OSI Europe: ASIA/MYANMAR – Cardinal Bo calls for reconciliation at the Shrine of Our Lady of Lourdes in Nyaungbelin

    Source: Agenzia Fides – MIL OSI

    Archdiocese Yangon

    Yangon (Agenzia Fides) – “Inspired by Mary, we pray that the warring parties in Myanmar may come together at the Marian Shrine of Nyaunglebin. May this sacred place become a refuge of peace and reconciliation, where enemies embrace one another as brothers and sisters in Christ”, said Cardinal Charles Maung Bo, Archbishop of Yangon, in his address to the faithful who had come to Nyaungbelin, in the Bago region of the Archdiocese of Yangon, for the Jubilee pilgrimage. At the shrine dedicated to Our Lady of Lourdes, in an area where sporadic clashes between opposition forces and the Burmese army have occurred, more than three thousand faithful, three bishops, numerous priests and religious, as well as Buddhist, Muslim and Hindu believers gathered for the pilgrimage on February 9, asking for Our Lady’s intercession for peace in Myanmar and in the world.”In this holy land, countless pilgrims have sought consolation, healing and the tender intercession of Our Lady of Lourdes. As we gather on this blessed feast day, let our hearts swell with gratitude for the boundless love of our Blessed Mother and let us open ourselves to the wonders that faith can reveal”, the Cardinal said in his homily at the Eucharist in the shrine. In every pregnant mother in the refugee camps spread across the country and hosting more than 3.8 million people, “we see the face of a Mary on the way to Bethlehem, looking for a safe place to give birth to her child,” the Cardinal said. The courage of Burmese women, he added, “reflects Mary’s serenity in the midst of chaos and reminds us that peace is not the absence of adversity but the presence of God within.”The Cardinal recalled the importance of peace, reconciliation and forgiveness, recalling Mary as the “Mother of Peace” in Myanmar, which is plagued by unrest and conflict. “Her unwavering acceptance of God’s will invites us to cultivate inner peace and become messengers of peace in our troubled world,” he said.In “Mary, the Mother of Reconciliation,” he continued, “we find the strength to overcome divisions, heal broken relationships and unite in faith and love.” In a world torn by political, cultural or religious divisions, Mary calls us to be bridge builders,” he noted, urging everyone to ‘reconcile with those we consider enemies’ and ‘seek unity where there is discord’. “Mary,” he added, “in her deep sorrow did not give in to hatred or despair. She embodied the essence of forgiveness, reflecting the words of Jesus: ‘Father, forgive them, for they know not what they do’ (Luke 23:34). Mary’s ability to forgive in the face of unimaginable suffering teaches us that forgiveness is a divine act of love that liberates both the giver and the receiver.”The Cardinal concluded by recalling that Mary is also venerated in the Koran. “This shared admiration,” he said, “invites us to interreligious dialogue and mutual respect, recognizing that Mary’s virtues are universal: she is the mother of us all,” stressing in this context that “Mary’s loving intercession can heal even the deepest wounds.”The Archbishop of Yangon expressed the hope that in the nation “the divisions of war will give way to the unity of peace, in which all people can live in harmony and in which Mary will guide our steps towards a lasting peace.” He called on the faithful “to actively seek to heal divisions as mediators of reconciliation” and “to practice forgiveness by freeing themselves from the grip of past injustices.” All are called to “support displaced families,” to “participate in interreligious efforts” to “support human rights and justice,” so that the baptized in the Jubilee Year become “beacons of hope, channels of God’s peace and messengers of his infinite mercy.” “May Mary, Mother of God, help us to create peace and harmony throughout the world, especially in Myanmar,” Cardinal Bo concluded. (PA) (Agenzia Fides, 11/2/2024)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Europe: AMERICA/USA – Pope Francis shares with the US bishops the concern about migration policy and mass deportations

    Source: Agenzia Fides – MIL OSI

    Tuesday, 11 February 2025

    White House official page on Facebook

    Vatican City (Agenzia Fides) – “I have followed closely the major crisis that is taking place in the United States with the initiation of a program of mass deportations. The rightly formed conscience cannot fail to make a critical judgment and express its disagreement with any measure that tacitly or explicitly identifies the illegal status of some migrants with criminality. The act of deporting people who in many cases have left their own land for reasons of extreme poverty, insecurity, exploitation, persecution or serious deterioration of the environment, damages the dignity of many men and women, and of entire families, and places them in a state of particular vulnerability and defenselessness”.This is what Pope Francis emphasizes in a letter to the Catholic bishops of the United States with regard to the country’s current migration policy and in particular the mass deportations initiated by President Donald Trump.” I am writing today to address a few words to you in these delicate moments that you are living as Pastors of the People of God who walk together in the United States of America,” the Pope explains in the letter. In this context, the Bishop of Rome also recalls the Book of Exodus, which describes “the journey from slavery to freedom that the People of Israel traveled.”The biblical text “invites us to look at the reality of our time, so clearly marked by the phenomenon of migration, as a decisive moment in history,” said the Pope, who recalled “the infinite and transcendent dignity of every human person.”Jesus Christ, “the Son of God, in becoming man,” also experienced “the drama of immigration,” the Pope emphasizes in the letter. And he quotes the words with which Pius XII “began his Apostolic Constitution on the Care of Migrants, which is considered the “Magna Carta” of the Church’s thinking on migration, where it says: “The “infinite and transcendent dignity,” of the human person surpasses and sustains every other juridical consideration that can be made to regulate life in society.”Hence the harsh judgment with regard to the US government’s deportation policy. While it is necessary to “recognize the right of a nation to defend itself and keep communities safe from those who have committed violent or serious crimes while in the country or prior to arrival.” “But worrying about personal, community or national identity, apart from these considerations, easily introduces an ideological criterion that distorts social life and imposes the will of the strongest as the criterion of truth.”In the final part of the message, the Pope thanks the US bishops for their work and efforts on behalf of migrants and refugees. “I exhort all the faithful of the Catholic Church, and all men and women of good will, not to give in to narratives that discriminate against and cause unnecessary suffering to our migrant and refugee brothers and sisters. With charity and clarity we are all called to live in solidarity and fraternity, to build bridges that bring us ever closer together, to avoid walls of ignominy and to learn to give our lives as Jesus Christ gave his for the salvation of all,” the Pope concluded. (F.B.) (Agenzia Fides, 11/2/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Europe: AFRICA/DR CONGO – M23 advances in South Kivu; airport serving Bukavu is in its sights

    Source: Agenzia Fides – MIL OSI

    Kinshasa (Agenzia Fides) – “The ceasefire declared in recent days has been broken. In reality, it has only served to supply the M23 rebel movement and the Rwandan army with weapons, ammunition and provisions to their troops so that they can then continue their advance southwards,” an observer from the local Church in Bukavu, the capital of South Kivu province in the east of the Democratic Republic of Congo, tells Fides.On February 3, the M23 militia, which had taken Goma, the capital of the Congolese province of North Kivu at the end of January, declared a ceasefire “for humanitarian reasons”, which came into force on February 4 (see Fides, 4/2/2025).”The M23 has resumed its advance in South Kivu and attacked the village of Ihusi,” the observer said. “Currently, Rwandan soldiers and M23 fighters are about 60 km from the center of Bukavu. Their target is probably much closer, it is Kavumu airport, which is about 30 km from the city and is of strategic importance for supplying the Congolese army troops (FARDC) with men and resources,” the observer underlines, reporting that “the situation in the city is calm. “The foreign employees of the various non-governmental organizations and international agencies have meanwhile left the city, while missionaries and local clergy remain on site.”It therefore remains uncertain whether the advance of the M23 units will stop at Kavumu airport or continue on to the capital of South Kivu province. “Bukavu is defended not only by Congolese soldiers and militiamen, but also by soldiers of the Burundian army, which has stationed 16 battalions in the region with a total of about 12,000 men. These soldiers seem to be better equipped than the soldiers of the Congolese army, who often claim that they do not even have enough to eat,” the observer continues.On a diplomatic level, the crisis in the east of the Democratic Republic of Congo will be discussed at the African Union summit in Addis Ababa (Ethiopia) this weekend. “Many promises, many words, but nothing concrete,” the observer suspects. “Sanctions against Rwanda are threatened, but nothing concrete seems to have been done to put them into practice.” In Goma, meanwhile, the drama continues with hundreds of thousands of displaced people forced to leave their shelters because, according to the rebel movement M23, “security conditions have been restored.” “This is a political move to show that the ‘new masters’ of the region have the situation under control,” the observer says. “However, thousands of people are forced to return to villages, in some cases 30-40 km from Goma, without the guarantee of finding their homes and the minimum conditions for a decent life,” he concludes. “Many of them remain in the city in makeshift shelters or welcomed by friends and relatives.” (L.M.) (Agenzia Fides, 12/2/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    ******************************************************************************

         The Hong Kong Economic and Trade Office, Singapore (Singapore ETO) hosted a dinner at the Fullerton Bay Hotel Singapore in Singapore yesterday (February 11) to celebrate Chinese New Year and to promote Hong Kong. Over 200 guests from the government sector, foreign embassies in Singapore, Asia-Pacific Economic Cooperation, business associations, academic institutions and cultural organisations attended, as well as the local Hong Kong community.      Speaking at the dinner, the Director of the Singapore ETO, Mr Owin Fung, reviewed the work and achievements of Hong Kong and Singapore collaboration in recent years, including the visit by the Chief Executive, Mr John Lee, to Singapore in 2023, during which he led a Hong Kong Special Administrative Region business delegation and signed seven Memoranda of Understanding. In January this year, the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, also led a high-level business delegation to Hong Kong, engaging in high-level discussions on traditional and emerging business sectors. Furthermore, 23 Singaporean companies expanded or established operations in Hong Kong in 2023, demonstrating Singapore enterprises’ investment interest and confidence in Hong Kong. Both sides expect to further build bilateral ties.      Mr Fung also took the opportunity to introduce, through a video, the Kai Tak Sports Park which is set to open on March 1. Major events and activities will be held at the park. Projects such as the Kai Tak Sports Park and the West Kowloon Cultural District exemplify Hong Kong’s cultural and soft power.      During the dinner, Hong Kong singer-songwriter Chet Lam, along with four band members, performed as guest artists. They delivered a selection of Cantonese, English, and Putonghua songs, including “Singapore Pie”, a piece by Liang Wern Fook, a renowned Singaporean lyricist, composer and Xinyao singer. Earlier, they and other Hong Kong musicians participated in an outdoor concert and talk under the “Hong Kong Pop Culture Festival @ Huayi” held in Singapore. The events were sponsored and supported by the Leisure and Cultural Services Department and the Hong Kong Economic and Trade Office in Singapore.      Mr Fung concluded that the Association of Southeast Nations (ASEAN), as Hong Kong’s second-largest merchandise trading partner, presents significant opportunities. Amid global economic challenges, Hong Kong has emphasised its unique advantages under the “one country, two systems” arrangement, serving as a gateway between Mainland China and global markets, while reinforcing connectivity with traditional markets and exploring emerging markets in ASEAN and the Middle East, with the Greater Bay Area as a key focus for collaboration.      Looking ahead, Singapore ETO will host its first Chinese New Year dinner in Ho Chi Minh City on February 28 to celebrate the Year of the Snake and the 30th anniversary of the Office, while enhancing communication with local communities in Vietnam.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 13:39

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ8: Hosting events of 15th National Games, 12th National Games for Persons with Disabilities and 9th National Special Olympic Games

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Kenneth Lau and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (February 12):
     
    Question:
     
         The 15th National Games (NG), the 12th National Games for Persons with Disabilities (NGD) and the 9th National Special Olympic Games (NSOG) to be co-hosted by Guangdong Province, the Hong Kong Special Administrative Region and the Macao Special Administrative Region for the first time will be held from November 9 to 21 and from December 8 to 15 this year respectively. Hong Kong will host eight competition events and one mass participation event for the 15th NG, as well as four competition events and one mass participation event for the 12th NGD and the 9th NSOG. In this connection, will the Government inform this Council:
     
    (1) of the following information on the events to be hosted in Hong Kong: (i) the arrangements for event management and competition schedules, (ii) the number of participating athletes, (iii) the expected number of spectators, (iv) the details of the publicity and promotional activities, and (v) the ticketing arrangements;
     
    (2) of the specific measures put in place by the authorities to enhance the ancillary transport facilities and capacity of the main stadiums and venues of the events to be hosted in Hong Kong (including Kai Tak Sports Park, Hong Kong Coliseum, Hong Kong Velodrome, Hong Kong Golf Club – Fanling Golf Course, Victoria Park, and Central Harbourfront Event Space and Victoria Harbour) during the events;
     
    (3) as it is learnt that the recruitment of volunteers for the 15th NG, the 12th NGD and the 9th NSOG was conducted from July to November last year, of (i) the number of applications received, (ii) the number of volunteers finally selected and (iii) their age distribution;
     
    (4) as it is learnt that the selected volunteers mentioned in (3) will mainly be responsible for tasks such as reception services upon arrival and departure, spectator services, guest reception, crowd control, transport and logistics, catering management and presentation ceremony support, and will receive training, of the details of the manpower establishment and training of volunteers for the aforesaid tasks; and
     
    (5) whether it has assessed if the number of selected volunteers mentioned in (3) can meet the relevant manpower demand, and whether it will consider recruiting more volunteers or mobilising civil servants to participate in the support work for the 15th NG, the 12th NGD and the 9th NSOG; if it will, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         Co-hosted by Guangdong, Hong Kong and Macao, the 15th National Games (15th NG), and the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games (12th NGD and 9th NSOG) will be held from November 9 to 21 and from December 8 to 15, 2025, respectively. The Hong Kong Special Administrative Region (HKSAR) Government has been maintaining close liaison with the General Administration of Sport of China (GASC), the China Disabled Persons’ Federation (CDPF), the People’s Government of Guangdong Province, and the Macao Special Administrative Region Government. In addition, the HKSAR Government has been working with the concerned National Sports Associations and other related organisations in Hong Kong to press ahead with the preparatory work. Bringing success to the 15th NG and the 12th NGD and 9th NSOG is a significant mission of the HKSAR Government this year, and they are also mega events. We will continue to dedicate the fullest efforts to taking forward the related work with a view to co‑hosting a “simple, safe and wonderful” 15th NG as well as 12th NGD and 9th NSOG in collaboration with Guangdong and Macao, and thereby deepening the exchanges and collaborations in sports between Hong Kong and the Greater Bay Area cities, and also their overall integrated development.
          
         Our reply to the question raised by the Hon Kenneth Lau is as follows:
     
     (1)(i) The 15th NG will have competition events for 34 sports and mass participation events for 23 sports. Hong Kong will host eight competition events (namely basketball (men U22), track cycling, fencing, golf, handball (men), rugby sevens, triathlon and beach volleyball) and one mass participation event (namely bowling). In addition, Hong Kong will assist Zhuhai and Shenzhen respectively in organising two cross-boundary events, namely road cycling and marathon.
     
         The 12th NGD and 9th NSOG will have competition events for 35 sports and mass participation events for 11 sports. Hong Kong will host four competition events (namely boccia, wheelchair fencing and table tennis (TT11) for NGD, and table tennis for NSOG) and one mass participation event (namely para dance sport).
          
         In view of the numerous events in the 15th NG and the 12th NGD and 9th NSOG, the Governments of Guangdong, Hong Kong and Macao are co-ordinating the overall schedules of the Games for submission to the GASC and the CDPF for approval. We will continue to liaise closely with the GASC, the CDPF as well as the Governments of Guangdong and Macao with a view to finalising the schedules of the 15th NG and the 12th NGD and 9th NSOG as soon as possible. The details will be announced in due course.
     
    (ii) Based on the competition prospectuses and guidelines promulgated by the GASC and the CDPF, it is estimated that about 1 800 and 700 athletes will participate respectively in the 15th NG events and the 12th NGD and 9th NSOG events in Hong Kong. In addition, it is estimated that about 1 000 delegation officials (including coaches, team physicians), 800 technical officials (including referees), and 750 members of the media will visit Hong Kong during the 15th NG and the 12th NGD and 9th NSOG.
     
    (iii) It is estimated that the events in Hong Kong will attract more than 100 000 spectators from Hong Kong, the Mainland and other regions.
     
    (iv) The Culture, Sports and Tourism Bureau (CSTB) is working with relevant government departments and organisations to launch territory-wide publicity and promotion campaigns through various online and offline channels, with a view to enhancing the awareness and interest in the 15th NG and the 12th NGD and 9th NSOG among different sectors of the community. The initiatives include conducting multi-channel publicity through traditional media, social media, city dress-up and roving exhibitions; organising community and school promotion programmes in co-operation with local organisations and schools; hosting feature events such as exchanges with athletes and sports experiential activities in collaboration with sports organisations; and launching a dedicated website and applications for digital marketing.
     
         The first stage of the publicity and promotion campaigns was launched during November to December last year to tie in with the one-year countdown to the 15th NG and the 12th NGD and 9th NSOG, which included rolling out a series of cityscape enhancement, roving exhibitions, publicity videos, thematic website (www.2025nationalgames.gov.hk) and social media pages (www.facebook.com/2025nationalgames.hk, www.instagram.com/2025nationalgames.hk) of Hong Kong for the Games. The second stage commenced in January this year, with initiatives including city dress-up and photo-taking spots featuring the mascots of the Games, enhancing the design of the thematic website, enriching social media content, etc. The third stage, covering the 100-day countdown, torch relay, etc, will begin in August 2025. We will do our utmost to foster a welcoming atmosphere and enhance the popularity and participation of the Games in Hong Kong, whilst encouraging Hong Kong people and tourists to watch the Games and cheer for the athletes.
     
    (v) Guangdong, Hong Kong, and Macao are discussing the ticketing plans and sales arrangements for the 15th NG and the 12th NGD and 9th NSOG. The three places will adopt the same sales platform. 
     
    (2) The competition venues for the events in Hong Kong, including the soon‑to-open Kai Tak Sports Park, have hosted various large-scale events and competitions previously, or undergone different drills and stress tests. The CSTB is, in collaboration with the relevant departments including the Hong Kong Police Force, the Transport Department, conducting a detailed assessment on the traffic and transport arrangements to and from the venues having regard to the transport facilities and capacity of the venues, their past experiences in staging competitions, and the number of participating athletes and spectators for each event.  We will formulate specific transport measures and special transport arrangements having regard to the assessment, and discuss with the various public transport operators on strengthening the public transport service as appropriate.
     
    (3) (i) to (iii) The recruitment of volunteers for the Hong Kong Volunteer Programme of the 15th NG and the 12th NGD and 9th NSOG was conducted from July to November last year. We received a total of over 30 000 applications for volunteer leaders or volunteers. In addition, about 2 000 young people aged between 15 and 17 have applied as youth volunteers. The selection interviews for volunteer leaders and volunteers were completed in January this year, and we plan to invite about 15 000 applicants to attend training. Individuals completing all the required training sessions will be appointed as the Games’ volunteers in Hong Kong. The final number of volunteers and their age distribution will only be available after completion of the whole recruitment exercise.
     
    (4) We are formulating the detailed volunteer deployment plan. We will take into account the nature and arrangements of individual events as well as the numbers of participating athletes and spectators, and thereby assessing the requirements for supporting services and the types of volunteer positions. We will also estimate the manpower requirement for different volunteer positions having regard to factors such as the skills required, the service hours and the place of work of the positions involved.
     
         All volunteers are required to attend basic training and position-related training. The basic training, lasting for about two days, will cover various areas including the background of the 15th NG and the 12th NGD and 9th NSOG and a brief introduction of the events in Hong Kong; the principles, code of practice and etiquette of volunteer work; communication, response and problem-solving skills; the ways of assisting people with disabilities and basic first-aid knowledge. Volunteer leaders are required to receive additional advanced training of about two days, covering the roles of volunteer leaders, the ways of handling unexpected situations, expectation management, mental health management, media handling skills, operation of volunteer management system, skills in leading and bonding volunteers. We will start the training for volunteer leaders in February this year and that for volunteers in general in March.
     
    (5) The response to the Hong Kong Volunteer Programme has been satisfactory, with the number of applicants succeeding in the selection far exceeding the original recruitment target of 10 000 volunteers. The volunteer applicants have already included members of civil service volunteer teams. At present, we have no plan to recruit additional volunteers.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ7: Operation of government funds

    Source: Hong Kong Government special administrative region

    LCQ7: Operation of government funds
    LCQ7: Operation of government funds
    ***********************************

         Following is a question by the Hon Andrew Lam and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (February 12): Question:      It is learnt that as at end-September last year, a total of 43 funds have been set up by various government bureaux and departments (B/Ds), which are segregated from the government accounts and administered by the relevant B/Ds. Some members of the public are concerned that while quite a number of funds have been set up for years with mechanisms being put in place by the relevant B/Ds to monitor the operation of such funds, there are still areas for improvements. In this connection, will the Government inform this Council: (1) as it is learnt that no expenditure was recorded for some funds such as the Sir David Trench Fund for Recreation (SDTFR) – Sports Aid for the Disabled Fund and SDTFR – Sports Aid Foundation Fund in the past nine financial years, whether the Government has reviewed the effectiveness of the relevant monitoring mechanisms; if so, of the details; and (2) whether the Government has regularly reviewed the utilisation and effectiveness of various funds, and introduced improvement measures (including considerations of merging funds with similar functions) to enhance the efficiency of fund management; if so, of the details? Reply: President,      Our consolidated reply to the question raised by the Hon Andrew Lam is as follows:      Under section 12(2) of the Public Finance Ordinance (Cap. 2), Controlling Officers shall be responsible and accountable for all expenditure from any head or subhead for which they are the Controlling Officer, and for all public moneys and Government property in respect of the department or service for which they are responsible. The relevant internal administrative guidelines of the Government further provides that, in managing purpose-specific funds, Controlling Officers should observe the need to strive to achieve maximum value for money and exercise prudence in the disbursement of government fund.      As the Education Development Fund has already ceased operations after the 2018/19 school year, there are currently a total of 42 funds which are segregated from the government accounts. Although these funds were set up for different purposes and in different mode, the Controlling Officers managing these funds have put in place an appropriate monitoring mechanism for each of these funds to ensure effective use of public financial resources. For instance, steering, management or advisory committees comprising representatives from relevant government bureaux/departments (B/Ds), relevant stakeholders and independent members were set up to oversee the funds’ operation, handle matters related to the funds and give advice. For funds established by law or in the form of a trust, the Controlling Officers should also ensure their operation complies with the relevant requirements of the law and provisions in the trust deed, including the submission of statements of the accounts and/or progress reports of the funds to the Director of Audit and the Legislative Council as required.      Controlling Officers will formulate and update strategic plans for achieving the purposes of the funds and develop appropriate performance measures for the funds under their purview. Controlling Officers will also conduct regular reviews on the use and effectiveness of the funds, and contemplate appropriate financial arrangements (such as considering whether to merge/retain the funds or implement relevant policy initiatives by other means, etc.) having regard to the policy objectives behind, the financial situation of the funds, views of stakeholders, etc., thereby ensuring effective and flexible use of public financial resources. In cases where there is no need to retain a fund as the policy objectives have been achieved (e.g. the Education Development Fund), the balance of the fund will be brought back to the government accounts.      There are some funds with no expenditure recorded in recent years (such as the J.E. Joseph Trust Fund and the Kadoorie Agricultural Aid Loan Fund), as these funds are loan funds in nature. Therefore, even though these funds are still in normal operation and loans are being granted in the accordance with the purposes of the funds, expenditure will only be recorded in the year when there are bad debts written off. As for the other funds (including the Sports Aid for the Disabled Fund and the Sports Aid Foundation Fund established under the Sir David Trench Fund for Recreation), the B/Ds concerned are reviewing their financial position and will examine whether there is the need to retain them.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 11:18

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ19: Lifesaving services at swimming pools

    Source: Hong Kong Government special administrative region

    LCQ19: Lifesaving services at swimming pools
    LCQ19: Lifesaving services at swimming pools
    ********************************************

         Following is a question by the Hon Kenneth Fok and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (February 12): Question:      It is learnt that the Leisure and Cultural Services Department has installed artificial intelligence (AI) drowning detection systems developed by the University of Hong Kong and France at the Kwun Tong Swimming Pool and the Sun Yat Sen Memorial Park Swimming Pool respectively to help strengthen lifesaving services at public swimming pools. In this connection, will the Government inform this Council: (1) whether the Government has examined the manpower and financial expenditure (including acquisition costs, installation costs and system maintenance fees) involved since the commissioning of the aforesaid two AI systems and reviewed their effectiveness; if so, of the details; if not, whether it will expeditiously commence the relevant work before the summer swimming season; (2) whether the Government has assessed and compared the actual operation of the aforesaid two systems, including their effectiveness, accuracy, ease of operation and interface with lifeguards and lifesaving mechanisms at swimming pools, with a view to providing a reference point for the retrofitting of such systems at more public swimming pools in the future; if so, of the details; if not, the reasons for that; and (3) given that according to a report released by the Office of The Ombudsman in March last year on its direct investigation into the regulation of licensed swimming pools by the Food and Environmental Hygiene Department (FEHD), the FEHD has not put in place an accident notification mechanism for licensed swimming pools, whether the Government will consider mandating private swimming pools to install AI drowning detection systems and establish a real-time notification mechanism to ensure that the FEHD and the relevant government departments can be expeditiously informed of drowning incidents, thereby enhancing regulatory efforts on private swimming pools; if so, of the details; if not, the reasons for that? Reply: President,      Having consulted relevant government departments, my reply to the questions raised by the Hon Kenneth Fok is as follows: (1) The Leisure and Cultural Services Department (LCSD) has all along prioritised the safety of swimmers in both the facilities as well as the operation of its venues. Apart from providing sufficient lifeguards, the LCSD has put on trial two different sets of artificial intelligence (AI) drowning detection systems at Kwun Tong Swimming Pool and Sun Yat Sen Memorial Park Swimming Pool respectively to assist lifeguards in monitoring the real-time condition of swimmers and locating drowning victims promptly with a view to further strengthening life-saving services.      The AI drowning detection system developed by the University of Hong Kong Sport AI Laboratory has been on trial at the outdoor secondary pool of Kwun Tong Swimming Pool since August 2023. Through AI detection technology, the system analyses the videos and images captured by cameras installed underwater and calculates the drowning probability of swimmers. If suspected drowning is detected, the system will alert the lifeguards to carry out a rescue. The system was developed with a grant of around $900,000 by the Innovation, Technology and Industry Bureau. The LCSD has subsequently installed additional sets of underwater detection devices and upgraded the existing sets of underwater cameras in the secondary pool. The project cost was around $700,000, with an estimated annual expenditure on system maintenance of around $130,000.           The AI drowning detection system developed by a French company was installed at the indoor main pool and training pool of Sun Yat Sen Memorial Park Swimming Pool in September 2024. The system uses cameras installed above the pools to capture images and performs comprehensive tracking and analysis of swimmers’ motions. If a swimmer is found to remain stationary for over 10 seconds, the system will consider it a case of suspected drowning, trigger the alarm and display the drowning location for lifeguards to carry out a rescue. Relevant installation cost of the system was about $7.9 million, with an annual maintenance cost of approximately $1.1 million. In addition, equipment and devices of the system require a comprehensive inspection every three years to ensure its stability and safety. The estimated cost of such inspection is around $500,000. (2) At present, the two detection systems mentioned above are still in trial phase. The LCSD needs to adjust the systems from time to time based on the actual environment and usage, and observe the operation of the systems in different seasons so as to ensure the stability and reliability of the data collected. Hence, a comprehensive set of data for assessment has yet to be available. Upon completion of tests and data analyses in different seasons, the LCSD will review and compare the cost-effectiveness of the two systems before deciding whether to extend the application of the systems to other public swimming pools. (3) To strengthen the regulation of licensed swimming pools, the Food and Environmental Hygiene Department (FEHD) has, in response to the recommendations of the Office of the Ombudsman, established a notification mechanism for fatal drowning cases in licensed swimming pools. In May 2024, the FEHD issued a letter to swimming pool licensees imposing new licensing conditions which require the reporting of cases involving casualties within a prescribed period. The FEHD officers will conduct site inspections for fatal drowning cases to ascertain whether the swimming pools concerned have provided sufficient life-saving attendants and appropriate life-saving equipment as required by the law and the licensing conditions. The FEHD will also examine the relevant cases and require the licensed swimming pools to take additional measures to further protect the safety of swimmers as necessary.      The FEHD and the LCSD share experience and exchange information from time to time on the regulation and management of swimming pools, including the application of technology to enhance swimmers’ safety. As the AI drowning detection system is still in the trial stage, the FEHD will maintain contact with the LCSD to understand the application of the system.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 11:15

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mahakumbh 2025: Extra Arrangements in place to transport Pilgrims to Mahakumbh on Magh Purnima

    Source: Government of India

    Mahakumbh 2025: Extra Arrangements in place to transport Pilgrims to Mahakumbh on Magh Purnima

    1200 additional buses reserved for return journey, with buses available every 10 minutes for rural areas

    750 shuttle buses prepared to take pilgrims to nearby locations from temporary bus stations, with frequency of  two minutes

    Posted On: 11 FEB 2025 10:26PM by PIB Delhi

    Prayagraj is experiencing a large influx of pilgrims and tourists into the Mahakumbh for the Magh Purnima bath. UP Roadways has made extensive preparations to facilitate this movement of people. In addition to the reserved buses, a fleet of shuttle buses is also ready to facilitate connectivity.

    1200 Reserved Roadways Buses for Pilgrims’ Return Journey, Available Every 10 Minutes 

    By the evening of February 11, 45 crore people had already bathed at the Triveni confluence during the Magh Purnima festival. The state government is working diligently to ensure that they return to their destinations in a safe and organized manner. Uttar Pradesh’s Minister of State for Transport, Shri Daya Shankar Singh, stated that for the successful handling of the main bathing festivals of Mahakumbh 2025, 1200 additional rural buses have been reserved. This will help ensure smooth transport, in addition to the already allocated 3050 buses for the Mahakumbh. These additional buses are specifically reserved for the Magh Purnima snan and the upcoming bathing festivals, ensuring that pilgrims face no inconvenience. Visitors arriving at the four temporary bus stations will find a Roadways bus available every 10 minutes.

    Shuttle Service for Mahakumbh Connectivity, every 2 Minutes

    With the massive number of pilgrims arriving for the Magh Purnima bath, temporary bus stations have been set up around the city, with Roadways buses stationed at each location. Additionally, 750 shuttle buses are ready to take pilgrims to nearby areas within the Mahakumbh zone. According to Roadways officials, these shuttles will operate every 2 minutes. Special arrangements have also been made to prevent overcrowding at the bus stations. The Transport Minister has instructed officials to ensure that pilgrims face no bus-related issues during the Amrit Snan and in the coming days.

    *****

    AD/VM

    (Release ID: 2102067) Visitor Counter : 51

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 133 Ambulances, including 7 River and 1 Air Ambulance, deployed for Pilgrims on Magh Purnima

    Source: Government of India

    133 Ambulances, including 7 River and 1 Air Ambulance, deployed for Pilgrims on Magh Purnima

    43 Hospitals in Mahakumbh Nagar on High Alert, with high-tech arrangements for minor to major surgeries in every sector of the Mela

    Posted On: 11 FEB 2025 10:30PM by PIB Delhi

    The Government has made extensive preparations for the safety and health of the pilgrims, visiting the Mahakumbh at Prayagraj, for Magh Purnima. All hospitals in the Mahakumbh area, as well as in the city and district, will remain on high alert. Surveillance through water, land, and air will be in place to ensure the safety of pilgrims. Accordingly, 133 ambulances have been deployed to provide immediate relief in case of emergencies. This includes 125 ambulances, seven river ambulances, and one air ambulance specifically stationed.

    High-Tech Medical Services in every Sector of Mahakumbh

    State-of-the-art medical services are available in each sector of the Mahakumbh area. The facilities range from minor operations to major surgeries. Dr. Gaurav Dubey, the nodal medical officer of the Mahakumbh Mela, stated that the government’s emergency services, especially ambulance services, play a critical role. Over 2,000 medical staff will be deployed in the Mahakumbh area, and more than 700 medical personnel at SRN Hospital will remain on high alert.

    250 Beds Reserved at SRN, Blood Bank Fully Prepared

    As per special instructions from the administration, 250 beds have been reserved at SRN Hospital. Additionally, 200 units of blood are stored to handle emergencies. All 43 hospitals in Mahakumbh Nagar with a 500-bed capacity are fully operational.

    Hospitals Equipped with Modern Facilities

    Swaroop Rani Nehru Hospital has reserved 40 beds for the trauma center, 50 beds for the surgical ICU, 50 beds for the medicine ward, 50 beds for the PMSSY ward, and 40 beds for the burn unit. In addition, a 10-bed cardiology ward and a 10-bed ICU are also fully prepared.

    Special Focus on Medical Supervision and Cleanliness 

    To ensure smooth medical services, 30 senior doctors have been specially assigned, along with 180 resident doctors and over 500 nursing and paramedical staff. The hospital administration has instructed housekeeping agencies to ensure no negligence in cleanliness.

    Administration’s Commitment to Health Services

    Dr. Vatsala Mishra, Principal of Swaroop Rani Nehru Hospital, mentioned that all arrangements have been made to handle any emergency during the Magh Purnima bath. She appealed to the pilgrims to contact the hospital immediately in case of any health issues, assuring them of free and high-quality medical services.

    Deployment of Expert Doctors, 24-Hour Medical Service Available

    Along with 150 medical personnel from the AYUSH department, 30 expert doctors will be deployed to serve the pilgrims. Experts from AIIMS Delhi and BHU will also remain on alert.

    *****

    AD/VM

    (Release ID: 2102068) Visitor Counter : 49

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr. Mansukh Mandaviya to Inaugurate First-Ever Regional Dialogue on Global Coalition for Social Justice in New Delhi on 24-25 Feb 2025

    Source: Government of India

    Dr. Mansukh Mandaviya to Inaugurate First-Ever Regional Dialogue on Global Coalition for Social Justice in New Delhi on 24-25 Feb 2025

    Hosted by Ministry of Labour & Employment in collaboration with CII-EFI

    Coalition Theme is Responsible Businesses for Inclusive and Sustainable Societies

    Mr. Gilbert F. Houngbo, Director-General of the International Labour Organisation (ILO) to Deliver Keynote Address

    80+ Coalition partners from Asia Pacific region and beyond, including representatives from Governments, Employers’ and Workers’ Organizations, International Agencies, Research and Academic Institutions, International NGOs and Enterprises to Attend

    Participating Ministries include Ministry of Commerce & Industry, Ministry of Corporate Affairs, Ministry of External Affairs, Ministry of Skill Development and Entrepreneurship

    Posted On: 12 FEB 2025 5:41PM by PIB Delhi

    Ministry of Labour & Employment, Government of India, in collaboration with Confederation of Indian Industry (CII)-Employers’ Federation of India (EFI), is set to host the first-ever Regional Dialogue on Social Justice on 24-25 February 2025 at Bharat Mandapam in New Delhi. This landmark event is a significant contribution to the Global Coalition for Social Justice.

    Launched by ILO in 2023, the Coalition is a platform for governments, employers’ and workers’ organizations, international and regional organizations, financial institutions and development banks, enterprises, international non-governmental organizations and academia committed to advancing social justice and engaging in collaborative efforts to achieve shared objectives. The Coalition leverages collaboration among partners to amplify the unique strengths of each participant, comprehensively and coherently addressing social justice challenges.

    As a member of the Asia Pacific Coordinating Group, India is spearheading the first ‘Regional Dialogue’ under the Global Coalition for Social Justice and championing the key intervention “Responsible Businesses for Inclusive and Sustainable Societies” under the Coalition’s thematic area of “Expanding access to and capabilities for Productive and freely chosen Employment and Sustainable Enterprises.”

    The Regional Dialogue will bring together over 80+ Coalition partners from the Asia Pacific region and beyond to explore innovative approaches, exchange best practices, and strengthen collaboration to advancing social justice in the region.

    Hon’ble Union Minister for Labour & Employment, Dr. Mansukh Mandaviya, Hon’ble Minister of State for Labour & Employment, Sushri Shobha Karandlaje and Secretary (Labour& Employment), Ms. Sumita Dawra will grace the inaugural session of this regional dialogue. The event will feature Mr. Gilbert F. Houngbo, Director-General of the ILO, as the keynote speaker.

    The event will also mark the 74th Foundation Day of the Employees’ State Insurance Corporation (ESIC), celebrating its unwavering commitment to ensuring dignified healthcare and economic security for India’s workforce. The ESIC Foundation Day is an occasion to recognize the vital contribution of the organization in fostering social justice through the extension of comprehensive social security benefits for workers and their families in the formal sector. 

    Discussions will focus on critical dimensions of social justice, including responsible business conduct and social protection, aligning with the Coalition’s thematic priorities.

    The event will feature exchange of knowledge and experience sharing through technical discussions and coalition partner’s experiences. The deliberations would strengthen the joint collaboration among partners in the area of promoting social justice in the region.

    Key themes include:

    • Skills, Employment and Social Justice: Empowering Youth and Enterprises for Inclusive and Sustainable Growth
    • Social Protection to Social Justice: Ensuring No One is Left Behind
    • Responsible Businesses: Upholding Fair Working Conditions, Safety, and Health for Enhanced Productivity and Sustainability
    • Building a Bigger Table: Promoting Inclusion and Women’s Participation in the World of Work
    • Advancing Decent Work: Strengthening Corporate Governance and Sustainable Global Value Chains
    • Digitalization for Social Justice – Harnessing AI for Decent Work and Equity

    Key Stakeholders: The thematic dialogue will bring together Coalition partners and other key stakeholders, including representatives from governments, employers’ and workers’ organizations, international and/or regional organizations, research organizations, academia, international NGOs and enterprises.

    Event Highlights

    Day 1 | 24 February 2025

    The first day of the Regional Dialogue on Social Justice will commence with an Inaugural Session. Key highlights include the showcasing of Responsible Business Conduct by Indian employers’ organisation and international business chambers, a joint statement of workers and employers organisations on responsible business practices, and the launch of publications on social justice and social protection. Technical sessions will focus on skills and employment for youth, social protection for informal workers, and promoting women’s participation in the workforce, featuring insights from global partners and stakeholders.

    Day 2 | 25 February 2025
    The second day will delve into responsible business practices, emphasizing fair working conditions, occupational safety, and health, with contributions from the International Organizations and foreign business chambers. Discussions on sustainable global value chains will highlight the role of multinational enterprises in advancing decent work and ethical labour practices. The final session will explore digitalization and AI as tools for social justice, focusing on equitable access, worker rights, and aligning AI with the Sustainable Development Goals (SDGs).

    *****

    Himanshu Pathak

    (Release ID: 2102377) Visitor Counter : 58

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Congo: CLG Experts Unpack Upcoming Gas Code and Investment Opportunities

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

    BRAZZAVILLE, Republic of the Congo, February 12, 2025/APO Group/ —

    The matter of the gas code will undoubtedly be discussed at the Congo Energy & Investment Forum, taking place from March 24-26, 2025, in Brazzaville. This regulatory milestone aims to provide a clear and structured framework for gas exploration, production and commercialization, boosting investor confidence and unlocking the full potential of the country’s vast natural gas reserves. As part of the forum, CLG Congo, a leading legal and commercial advisory firm in the energy sector, will play a key role in discussions surrounding regulatory reforms. In an interview with Energy Capital & Power (ECP) (www.EnergyCapitalPower.com), Yves Ollivier, Managing Director and Daoudou Mohammad, Director of Tax & Legal at CLG, shared their insights on the country’s upcoming Gas Code, regulatory landscape and upcoming opportunities. 

    Please provide an overview of CLG’s current activities in the Congo, particularly in relation to the energy sector? 

    CLG Congo is a leading provider of legal, tax, and commercial advisory services, working closely with oil and gas companies. In 2024, CLG was involved in Trident Energy’s acquisition of Chevron and TotalEnergies’ interests in the Lianzi, Nkosa and Nsoko 2 and Moho Bilondo fields. Trident now holds15,75% in Lianzi field, 85% in Nkosa and Nsoko 2 fields and 21.5% in Moho-Bilondo. To expand our client base, we actively participate in major energy events, such as African Energy Week in Cape Town and are honored to partner with Capital Energy & Power as legal counsel for CEIF 2025. 

    How does the Republic of Congo’s legislative framework impact foreign investment in hydrocarbons? 

    Historically, about 80% of direct investments in the country come from oil and gas, reflecting its economic dependence on hydrocarbons. To enhance investment conditions, the government has created investment promotion structures, including a Public-Private Partnership (PPP) Agency and a dedicated Ministry for International Cooperation and for Public-Private Partnership. 

    The 2016 Hydrocarbons Code introduced competitive bidding for exploration rights, increasing transparency and investor confidence. However, a Gas Code is still needed to provide a specific legal framework for natural gas investments. The current draft, developed with international institutions, aims to secure foreign capital and streamline regulations for a more competitive and structured industry. 

    What fiscal incentives does Congo offer to attract energy investments? 

    The government provides among others, corporate tax exemptions and progressive tax reductions for oil and gas projects, negotiated within the Production Sharing Contracts. Companies also benefit from customs incentives, such as the IM5 temporary import regime, allowing tax-free equipment imports under the condition of re-export. These measures lower entry costs for investors and enhance profitability. 

    What are the key expectations from the Gas Code and how could the regulatory framework improve investment conditions? 

    The Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms, and resource management. The draft was presented to gas companies in late 2023, and after modifications, is set for final approval. Additionally, the Gas Master Plan, developed by SNPC and McKinsey, aims to boost investment and expand gas utilization in Congo. 

    Another key issue is the VAT decree (2023-1337), which extends VAT to previously exempt oil and gas operations. There are ongoing discussions between the government and industry players to find a compromise that suits all parties. 

    How does the regulatory framework impact local content development in the oil and gas industry? 

    Despite 2019 local content decrees, enforcement remains a challenge. The law mandates 70% Congolese employment in management roles, but lacks clear compliance mechanisms. Companies try to follow the guidelines, but without effective monitoring, implementation varies. Strengthening verification processes is essential for sustainable workforce development in the sector. 

    What are your key expectations for the Congo Energy & Investment Forum 2025? 

    We see this as an opportunity to engage with foreign investors and showcase Congo’s gas potential, which includes proven reserves of 284 billion cubic meters and significant ongoing projects such as Eni’s Tango FLNG and Wing Wah’s Banga Kayo Gas Project. The forum will allow direct dialogue with policymakers, enabling us to propose solutions for industry challenges such as the Gas Code finalization and fiscal reforms. We also aim to highlight investment opportunities and regulatory reforms. Discussing topics like the Gas Code, VAT decree, and Hydrocarbons Code updates is crucial to ensuring a competitive and attractive investment environment. 

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: SAIL declares financial results for Q3 and 9M FY’25

    Source: Government of India

    Posted On: 12 FEB 2025 12:21PM by PIB Delhi

    Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter and nine month ending 31st December, 2024.

    Key highlights:

    Performance of Q3 FY 25 (Standalone) at a glance:

    Unit

    Q3 23-24

    Q2 24-25

    Q3 24-25

    Crude Steel Production

    Million Tonne

    4.75

    4.78

    4.63

    Sales Volume

    Million Tonne

    3.81

    4.10

    4.43

    Revenue from Operations

    Rs. Crore

    23,345

    24,675

    24,490

    Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)

    Rs. Crore

    2,319

    3,174

    2,389

    Profit Before Exceptional Items and Tax

    Rs. Crore

    384

    1,113

    289

    Exceptional Items

    Rs. Crore

    76

    0

    29

    Profit Before Tax (PBT)

    Rs. Crore

    461

    1,113

    318

    Profit After Tax (PAT)

    Rs. Crore

    331

    834

    126

     

    Performance of 9M FY 25 (Standalone) at a glance:

    Unit

    9M 23-24

    9M 24-25

    Crude Steel Production

    Million Tonne

    14.22

    14.08

    Sales Volume

    Million Tonne

    12.46

    12.54

    Revenue from Operations

    Rs. Crore

    77,417

    73,162

    Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)

    Rs. Crore

    8,451

    7,983

    Profit Before Exceptional Items and Tax

    Rs. Crore

    2,698

    1,728

    Exceptional Items

    Rs. Crore

    (339)

    (283)

    Profit Before Tax (PBT)

    Rs. Crore

    2,359

    1,445

    Profit After Tax (PAT)

    Rs. Crore

    1,722

    970

    SAIL’s revenue from operations and sales volume increased during the third quarter of the current financial year, along with a slight improvement in EBITDA compared to the corresponding period last year.

    Commenting on the financial results, Chairman SAIL, Shri Amarendu Prakash said, “In the face of a challenging steel market characterized by declining prices and an influx of cheap imports, SAIL has managed to achieve better EBITDA during the Q3FY25 compared to the corresponding period last year. We remain steadfast in our commitment to boost production and enhance cost efficiency, while simultaneously further explore and adopt greener technologies. We expect that with appropriate interventions, the issue of cheap imports will be addressed and government’s drive on infrastructure development will bode well for the domestic steel industry while driving the demand further”.

    *****

    TPJ/NJ

    (Release ID: 2102140) Visitor Counter : 71

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Newsom announces appointments 2.11.25

    Source: US State of California 2

    Feb 11, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Karen Morrison, of Sacramento, has been appointed Director at the California Department of Pesticide Regulation. Morrison has held multiple positions at the Department of Pesticide Regulation since 2018, including Chief Deputy Director and Science Advisor since 2022, Assistant Director and Chief Science Advisor from 2019 to 2022, and Environmental Program Manager and Science and Policy Advisor from 2018 to 2019. She was a Senior Environmental Scientist and Policy Advisor at the California Department of Resources, Recycling, and Recovery from 2014 to 2018. Morrison was a Science and Technology Policy Fellow at the California Council on Science and Technology from 2013 to 2014. She earned a Doctor of Philosophy degree in Chemistry from the University of Illinois, Urbana Champaign, and she earned a Bachelor of Science degree in Chemistry from Harvey Mudd College. This position requires Senate confirmation, and compensation is $213,651. Morrison is registered without party preference. 

    Nicholas Lutton, of Fresno, has been appointed to the State Council on Developmental Disabilities. Lutton was the Program Manager at Family Voices of California from 2022 to 2024. He was an Educational Resource Specialist at EPU Children’s Center from 2019 to 2022. Lutton is a member of the Editorial Board at the American Association of Pediatrics and Fresno County In-Home Services Advisory Committee. This position does not require Senate confirmation, and the compensation is $100 per diem. Lutton is a Democrat.

    Eric Bergersen, of Long Beach, has been appointed to the Physician Assistant Board. Bergersen has been the Regional Medical Director at Bicycle Health Medical Group since 2020. He was the APC Director at VEP Healthcare from 2018 to 2020. Bergersen was an Emergency Medicine Physician Assistant at VEP Healthcare from 2017 to 2019. He was a Clinical Consultant at GYANT from 2018 to 2019. Bergersen was the Lead Emergency Department Technician at Beth Israel Deaconess Medical Center from 2012 to 2015. He is a member of Physician Assistants in Virtual Medicine and Telemedicine. Bergersen earned a Master of Science degree in Health Care Administration from Oklahoma State University, a Master of Science degree in Physician Assistant Studies from George Washington University, and Bachelor of Science in Behavioral Neuroscience from Northeastern University. This position does not require Senate confirmation, and the compensation is $100 per diem. Bergersen is a Democrat.

    Ed Perez, of Sacramento, has been appointed to the Physician Assistant Board. Perez was a manager at Labor Relations and Performance Management, California Department of Water Resources from 2019 to 2024. He was a Labor Relations Specialist, Department of Water Resources from 2015 to 2019. Perez was a Labor Relations Specialist & Labor Relations Analyst at the California Department of Corrections and Rehabilitation from 2013 to 2015. He is a member of the Asian Pacific American Public Affairs Association (APAPA), the Hamptons Community Foundation, the Hamptons Owners Association, the Gardenland-Northgate Neighborhood Association, and a Community Activist with AARP. This position does not require Senate confirmation, and the compensation is $100 per diem. Perez is a Democrat.

    Drake Dillard, of Los Angeles, has been reappointed to the California Commission on Disability Access, where he has served since 2020. Dillard has been a Senior Project Manager at Perkins & Will since 2014. He was a Senior Healthcare Architect at Parsons from 2007 to 2013. Dillard was a Project Architect at Kaiser Permanente from 1989 to 1998. He is a member of the Crenshaw Design Review Panel, American Institute of Architects and the National Organization of Minority Architects. Dillard earned a Master of Arts degree in Architecture from Howard University and a Bachelor of Arts degree in Architecture from the University of Illinois Urbana-Champaign. This position requires Senate confirmation, and the compensation is $100 per diem. Dillard is registered without party preference.

    Jaqueline Jackson, of San Diego, has been reappointed to the California Commission on Disability Access, where she has served since 2020. Jackson has been a Non-Profit Management Consultant since 1994. She was Development Director and Consultant for the San Diego Center for the Blind from 2002 to 2004. Jackson was Director of Charter School Development for Norman and Norman Inc. from 1996 to 2005. She was an Education Consultant for the School Futures Research Foundation from 1994 to 1996. Jackson was the Director of Education for Health and Family Support Services at the San Diego Urban League from 1988 to 1994. She is a member of the City of San Diego Accessibility Advisory Board, City of San Diego Senior Affairs Advisory Board, and the County of San Diego Registrar of Voters Accessibility Advisory Committee. Jackson earned a Master of Education degree from the University of San Diego and a Bachelor of Arts degree in Psychology from California State University, San Diego. This position requires Senate confirmation, and the compensation is $100 per diem. Jackson is a Democrat.

    Press Releases, Recent News

    Recent news

    Feb 11, 2025

    News What you need to know: Across all of state government, highly-specialized personnel and response equipment are on the ground working to protect communities statewide from storm impacts.  Los Angeles, California – With another significant winter storm system…

    Feb 11, 2025

    News What you need to know: Governor Gavin Newsom issued an executive order today ordering the state to ensure that childcare providers impacted by the recent wildfires in Los Angeles are aware of their potential eligibility for Disaster Unemployment Assistance and…

    Feb 11, 2025

    News What you need to know: The fastest large-scale debris removal in modern state history began today in Altadena and the Pacific Palisades, in roughly half the time it took to start similar operations after the devastating 2018 Woolsey Fire.  LOS ANGELES – Governor…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom issues executive order to support childcare providers impacted by LA fires

    Source: US State of California 2

    Feb 11, 2025

    What you need to know: Governor Gavin Newsom issued an executive order today ordering the state to ensure that childcare providers impacted by the recent wildfires in Los Angeles are aware of their potential eligibility for Disaster Unemployment Assistance and have the support needed to apply.

    Los Angeles, California – Today, Governor Gavin Newsom issued an Executive Order for the Department of Social Services, in collaboration with the California Employment Development Department (EDD), to individually contact childcare programs or providers whose childcare facility has not reopened in the wake of the Los Angeles wildfires and make them aware of their potential eligibility for Disaster Unemployment Assistance. It also orders the agencies to support each individual in completing the application for those benefits.  

    “As California begins to recover from the devastating Los Angeles wildfires, we are working to make sure that childcare providers are aware of the federal and state supports available to them if they still are unable to work due to the fires. We will make sure that those who help our families have the resources they need and deserve.”

    Governor Gavin Newsom

    “Caregiving isn’t just a service—it’s the infrastructure we all need to go to work — making it a vital piece of the workforce equation. Ensuring that childcare providers— an industry that is majority women — are able to provide for their own families during this time is crucial to their ability to recover and rebuild, just as it’s critical to supporting the larger economy.”

    First Partner Jennifer Siebel Newsom

    Text of the executive order is available here.

    Get help today

    EDD helps people and businesses in California who have been affected by disasters. If you lost your job or can’t work because of this disaster, you may qualify for unemployment, disability, or Paid Family Leave benefits. For information on this disaster and to see if you qualify, visit EDD’s Disaster Unemployment Assistance website.

    For those Californians impacted by the firestorms in Los Angeles, there are resources available. Californians can go to CA.gov/LAfires – a hub for information and resources from state, local and federal government.  

    Individuals and business owners who sustained losses from wildfires in Los Angeles County can apply for disaster assistance:

    • Online at DisasterAssistance.gov
    • By calling 800-621-3362
    • By using the FEMA smart phone application
    • Assistance is available in over 40 languages
    • If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service

    Recent news

    Feb 11, 2025

    News What you need to know: The fastest large-scale debris removal in modern state history began today in Altadena and the Pacific Palisades, in roughly half the time it took to start similar operations after the devastating 2018 Woolsey Fire.  LOS ANGELES – Governor…

    Feb 10, 2025

    News What you need to know: The state continues to upgrade CA.gov/LAfires to provide more resources and information for firestorm survivors.  LOS ANGELES – Governor Gavin Newsom today announced new efforts to provide accountability with ongoing Los Angeles firestorm…

    Feb 10, 2025

    News What you need to know: The state and federal government are working at record-pace to remove debris from the Los Angeles area firestorms. LOS ANGELES – The State of California, in coordination with federal and local partners, is rapidly advancing wildfire cleanup…

    MIL OSI USA News –

  • MIL-OSI USA: With biggest winter storm of the season looming, California takes early, proactive steps to protect communities and harden burn scar areas  

    Source: US State of California 2

    Feb 11, 2025

    What you need to know: Across all of state government, highly-specialized personnel and response equipment are on the ground working to protect communities statewide from storm impacts. 

    Los Angeles, California – With another significant winter storm system expected to reach California later this week, work continues statewide to ensure communities impacted by recent wildfires – including the firestorms in Los Angeles – are protected.

    To prepare for this storm, Governor Gavin Newsom is directing a whole-of-government response to bolster local resources.

    In Altadena today, Governor Newsom and First Partner Jennifer Siebel Newsom surveyed ongoing work by state crews to prepare the Eaton Fire burn scar area ahead of rain. 

    At Governor Newsom’s direction, the state has installed emergency protection materials to contain burn scar debris from the Eaton and Palisades fires from entering creeks, rivers, and other bodies of water. The state is coordinating locally requested materials such as K-rails (concrete barriers) to divert debris flow and has completed debris basin clean-up activities over the last month to mitigate potential impacts in vulnerable areas.

    California has been in a constant state of readiness preparing for extreme winter weather. Crews have been on the ground for weeks working to secure areas against possible mudslides and debris flows. If you’re in the storm’s path, please remain vigilant and follow all guidance of local authorities.

    Governor Gavin Newsom

    California is monitoring storm impacts, in particular to burn scar areas that pose the threat of mudslides and debris flows. According to the National Weather Service, this storm system will bring far-reaching impacts across the state, including risks of urban flooding and burn scar impacts in Southern California, high winds and heavy snow. 

    State actions to protect communities include:

    • 319,000 sandbags and 5,600 super sacks have been deployed to Southern California locations through the Department of Water Resources (DWR).
    • 242 total CAL FIRE engines are deployed throughout the state to rapidly respond, including 109 engines CAL FIRE Southern Region and 133 engines CAL FIRE Northern Region.
    • Cal OES has prepositioned flood fighting and debris flow resources and more than 400 personnel in 8 counties, including Colusa, Fresno, Los Angeles, Orange, Glenn, Tulare, Ventura and Santa Barbara. In total the state is deploying through the Fire and Rescue Mutual Aid System the following:
      • 48 fire engines
      • 8 dozers 
      • 5 helicopters
      • 8 dispatchers
      • 6 hand crews
      • 8 swiftwater rescue teams
      • 3 local Incident Management Teams
      • 1 Regional Task Force
      • 2 excavators 
      • 2 loaders
      • 5 heavy rescue teams
    • Nearly 120 miles of emergency protection materials, including straw wattle, compost sock and silt fencing, have been installed through the California Conservation Corps to contain burn scar debris from entering creeks, rivers and other bodies of water. 
    • 30 watershed protection specialists have been deployed to burn scar areas.
    • Caltrans is placing erosion-control devices, including wattles, to limit mudflows. Caltrans is mobilizing crew members to monitor for rocks and other debris falling from burned slopes on the Pacific Coast Highway and Topanga Canyon Boulevard. 
    • 14 geologists are deployed to study and map burn scars of the Palisades, Eaton and Kenneth fires. The California Geological Survey is using this information to determine where debris flow could occur and where to install mitigation. The department also coordinated aerial flights over the scars to gather LiDAR data to further study burn areas for possible debris flow.
    • 70 soldiers and heavy engineering equipment through the California National Guard are deployed in the area to support debris removal efforts.
    • The California Department of Social Services is coordinating with local partners on shelters and warming centers to serve impacted communities.
    • The California Department of Public Health is supporting licensed healthcare facilities. 

    These early actions add on to the work the state has done in recent weeks to protect California communities and boost the state’s water supply. On January 31, the Governor signed an executive order to direct state agencies to direct additional water storage by maximizing excess water from winter storms.

    Residents in affected areas are urged to stay informed about potential debris flow risks, especially during storms, and to follow guidance from local emergency officials. For resources and information specific to the Los Angeles firestorms, visit CA.gov/LAfires.

    Preparing for upcoming weather

    On Thursday, rainfall rates could approach 1” per hour near thunderstorms. In addition, there’s anticipated heavy mountain snow, with levels dropping to 2,000-3,000 feet across the north and down to 6,500 feet in the far south. Parts of the state will see wind gusts of 35-55 mph in Central and Southern California.

    The incoming storm could bring an increased risk of power outages, flooding in small streams and low-lying areas, and debris, rocks and mudslides on roadways.

    Residents are encouraged to not drive through flooded roadways, prepare in advance for power outages and reduce injury risks from falling limbs and trees by staying inside during high wind events.

    Residents are urged to stay informed and listen to local authorities about actions they should take including evacuation orders or safety recommendations. In burn scar areas, officials recommend preparing for possible sudden debris flows by having a go-bag packed and knowing evacuation routes.

    For more information on winter storm preparedness visit ready.ca.gov.

    Recent news

    Feb 11, 2025

    News What you need to know: Governor Gavin Newsom issued an executive order today ordering the state to ensure that childcare providers impacted by the recent wildfires in Los Angeles are aware of their potential eligibility for Disaster Unemployment Assistance and…

    Feb 11, 2025

    News What you need to know: The fastest large-scale debris removal in modern state history began today in Altadena and the Pacific Palisades, in roughly half the time it took to start similar operations after the devastating 2018 Woolsey Fire.  LOS ANGELES – Governor…

    Feb 10, 2025

    News What you need to know: The state continues to upgrade CA.gov/LAfires to provide more resources and information for firestorm survivors.  LOS ANGELES – Governor Gavin Newsom today announced new efforts to provide accountability with ongoing Los Angeles firestorm…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Lombardo Requests Resolution Encouraging the Release of Federal Land to Increase Housing Availability and Decrease Housing Costs

    Source: US State of Nevada

    CARSON CITY, NV – February 11, 2025

    Today, Governor Joe Lombardo released his letter to Senate Majority Leader Nicole Cannizzaro and Assembly Speaker Steve Yeager requesting a resolution to encourage the systematic release of federal land in Nevada.

    “As you are aware, nearly 87% of Nevada’s land is controlled by the federal government, significantly limiting developers’ ability to increase the housing supply,” writes Governor Lombardo. “Growth in many rural areas of our state is currently constrained by the lack of developable land. Projections indicate that Washoe County could run out of developable land by 2027, while Clark County may face the same challenge by 2032. I have continued to engage with our federal delegation and the President on this issue, and I am seeking your support to advocate for the immediate and systematic release of federal land in Nevada.”

    The letter and proposed resolution are attached.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: In Altadena, Governor Newsom joins federal and state leaders to launch new phase of firestorm debris removal

    Source: US State of California 2

    Feb 11, 2025

    What you need to know: The fastest large-scale debris removal in modern state history began today in Altadena and the Pacific Palisades, in roughly half the time it took to start similar operations after the devastating 2018 Woolsey Fire. 

    LOS ANGELES – Governor Gavin Newsom today joined federal and local partners to begin work on structural debris removal from the Los Angeles firestorms, building on the US EPA’s work already underway to initially remove household hazardous waste.

    The Federal Emergency Management Agency (FEMA) and the U.S. Army Corps of Engineers (USACE) began private property debris removal Tuesday morning in Altadena and Tuesday afternoon in Pacific Palisades, closely coordinating efforts with local officials. The Governor also highlighted the completion of debris removal from an Altadena K-8 school, the site of this morning’s announcement. 

    “The new phase of debris removal that’s starting today marks a foundational step in helping Angelenos build back stronger. I’m grateful to the state and federal workers who are clearing debris at record-pace so firestorm survivors can begin the rebuilding process as quickly and safely as possible.”

    Governor Gavin Newsom

    The removal process that began today comes only 35 days after the fires ignited — roughly half the time it took to start similar operations after the devastating 2018 Woolsey Fire.
     
    Under Governor Newsom’s leadership, California has expedited the cleanup process by cutting red tape and eliminating bureaucratic barriers, allowing highly trained crews to enter impacted communities sooner and help survivors rebuild their lives faster. 

    The Los Angeles County Department of Public Works, in partnership with six locally affected jurisdictions, has worked around the clock to collect Right-of-Entry (ROE) forms from residents, develop haul routes, and coordinate safe transport of fire ash and debris.
     
    The U.S. Environmental Protection Agency (EPA) is rapidly completing the removal of household hazardous materials at record speed, clearing the way for this next phase of cleanup.
     
    Last month, Governor Newsom announced that FEMA, working with the Governor’s Office of Emergency Services (Cal OES), had tasked the EPA with safely removing and disposing of hazardous materials from homes and structures impacted by the fires. This crucial first step — one of the most complex phases of wildfire cleanup — paved the way for the structural debris removal now underway.

    As these operations continue, residents should anticipate an increased presence of debris removal teams in their communities and plan accordingly. The agencies involved appreciate the public’s support and patience as crews work to eliminate health and safety risks from impacted properties.

    Since the fires began, Governor Newsom has led an aggressive, coordinated, whole-of-government response to support impacted communities. Prior to the fires breaking out, the state had already deployed thousands of firefighters and personnel, with more than 16,000 boots on the ground at the peak of response efforts. In the days that followed, the state has launched historic recovery and rebuilding efforts to ensure Los Angeles communities receive the support they need.

    Fire survivors can sign up for the federal debris removal program by visiting a Disaster Recovery Center (DRC) or online at ca.gov/LAFires

    Recent news

    Feb 10, 2025

    News What you need to know: The state continues to upgrade CA.gov/LAfires to provide more resources and information for firestorm survivors.  LOS ANGELES – Governor Gavin Newsom today announced new efforts to provide accountability with ongoing Los Angeles firestorm…

    Feb 10, 2025

    News What you need to know: The state and federal government are working at record-pace to remove debris from the Los Angeles area firestorms. LOS ANGELES – The State of California, in coordination with federal and local partners, is rapidly advancing wildfire cleanup…

    Feb 10, 2025

    News What you need to know: Governor Newsom is sponsoring new legislation to allow homeowners who receive insurance payments for lost or damaged property to receive the interest accrued rather than lenders.  LOS ANGELES — As part of the state’s ongoing efforts to…

    MIL OSI USA News –

  • MIL-OSI Security: Ohio Man Admits to Firearms Violation

    Source: Office of United States Attorneys

    CLARKSBURG, WEST VIRGINIA – Rodney S. Knotts, age 55, of Ravenna, Ohio, has admitted to unlawful possession of a firearm.  

    According to court documents and statements made in court, Knotts possessed eight (8) firearms in Ritchie County, WV. Knotts is prohibited from possessing firearms because of a prior felony drug conviction in Ohio.

    Knotts is facing up to 15 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant U.S. Attorney William Rhee is prosecuting the case on behalf of the government.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives investigated.

    U.S. Magistrate Judge Michael John Aloi presided.

    MIL Security OSI –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on SMCY (101.33%), MSTY (100.07%), AIYY (64.15%), YMAX (47.62%), SQY (45.38%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group D ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5 Ex-Date & Record Date Payment Date
    SDTY* YieldMax™ S&P 500 0DTE Covered Call ETF Weekly   – –   –   –   – –
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $ 0.2936 –   –   99.05 % 2/13/25 2/14/25
    LFGY YieldMax™ Crypto Industry
    & Tech Portfolio Option Income ETF    		 Weekly $ 0.5642 –   –   100.00 % 2/13/25 2/14/25
    YMAX YieldMax™ Universe
    Fund of Option Income ETFs    		 Weekly $ 0.1503 47.62 % 77.11 % 92.31 % 2/13/25 2/14/25
    YMAG YieldMax™ Magnificent 7
    Fund of Option Income ETFs    		 Weekly $ 0.0509 14.71 % 56.75 % 85.74 % 2/13/25 2/14/25
    MSTY YieldMax™ MSTR Option
    Income Strategy ETF    		 Every 4 weeks $ 2.0216 100.07 % 0.00 % 33.44 % 2/13/25 2/14/25
    YQQQ YieldMax™ Short N100 Option Income Strategy ETF Every 4 weeks $ 0.2498 19.44 % 3.81 % 0.00 % 2/13/25 2/14/25
    AMZY YieldMax™ AMZN Option
    Income Strategy ETF    		 Every 4 weeks $ 0.5480 36.33 % 2.89 % 0.00 % 2/13/25 2/14/25
    APLY YieldMax™ AAPL Option
    Income Strategy ETF    		 Every 4 weeks $ 0.3625 28.26 % 3.14 % 88.56 % 2/13/25 2/14/25
    AIYY YieldMax™ AI Option Income Strategy ETF Every 4 weeks $ 0.3710 64.15 % 3.59 % 94.49 % 2/13/25 2/14/25
    DISO YieldMax™ DIS Option Income Strategy ETF Every 4 weeks $ 0.4574 36.46 % 3.60 % 90.80 % 2/13/25 2/14/25
    SQY YieldMax™ SQ Option Income Strategy ETF Every 4 weeks $ 0.5840 45.38 % 4.13 % 93.58 % 2/13/25 2/14/25
    SMCY YieldMax™ SMCI Option Income Strategy ETF Every 4 weeks $ 2.0901 101.33 % 3.39 % 97.65 % 2/13/25 2/14/25
    Weekly Payers & Group A ETFs scheduled for next week: SDTY GPTY LFGY YMAX YMAG TSLY CRSH GOOY YBIT OARK XOMO SNOY TSMY FEAT FIVY

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    *The inception date for SDTY is February 5, 2025.

    1. All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.
    2. The Distribution Rate shown is as of close on February 11, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3. The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended January 31, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4. Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5. ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: QXO Receives Antitrust Clearance for Acquisition of Beacon Roofing Supply

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Feb. 12, 2025 (GLOBE NEWSWIRE) — QXO, Inc. (NYSE: QXO) announced today that it has obtained antitrust clearance in both the U.S. and Canada for its acquisition of Beacon Roofing Supply, Inc. (Nasdaq: BECN), paving the way for QXO to close the transaction quickly. The company confirmed that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired and that it has received early termination of the waiting period from the Canadian Competition Bureau.

    “With committed financing in place and these necessary regulatory approvals secured, QXO is prepared to complete this acquisition and deliver immediate, compelling value to Beacon shareholders,” said Brad Jacobs, chairman and chief executive officer of QXO. “Beacon should remove its shareholder-unfriendly poison pill so shareholders can benefit from our premium all-cash offer.”

    QXO’s all-cash tender offer for all of Beacon’s outstanding common stock of $124.25 per share, which is higher than Beacon’s stock has ever traded, remains open until 12:00 midnight (New York City time) at the end of February 24, 2025. QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. Importantly, the transaction is not subject to any financing conditions or due diligence conditions.

    Advisors

    Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About QXO

    QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit www.qxo.com for more information.

    Forward-Looking Statements

    This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO, Inc. (“QXO”) and Beacon Roofing Supply, Inc. (“Beacon”), including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO commence a proxy contest for election of directors to Beacon’s Board of Directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; the substantial indebtedness QXO expects to incur in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; QXO’s ability to retain certain key employees; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

    Important Additional Information and Where to Find It

    This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) on January 27, 2025, and Beacon filed a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC on February 6, 2025. Investors and security holders are urged to carefully read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation/Recommendation Statement as these materials contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer: Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll-free telephone: +1 (888) 750-5834.
    QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 Annual Meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.

    Certain Information Concerning the Participants

    The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the date of this communication, other than 100 shares of common stock of Beacon beneficially owned by QXO, none of the participants who have been identified has any direct or indirect interest, by security holdings or otherwise, in Beacon.

    Media Contacts

    Joe Checkler
    joe.checkler@qxo.com
    203-609-9650

    Steve Lipin / Lauren Odell
    Gladstone Place Partners
    212-230-5930

    Investor Contacts

    Mark Manduca
    mark.manduca@qxo.com
    203-321-3889

    Scott Winter / Jonathan Salzberger
    Innisfree M&A Incorporated
    212-750-5833

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    Q4 Revenue of $78.1 million, GAAP Operating Income of $12.8 million and Adjusted EBITDA of $12.1 million

    2024 Revenue of $305.4 million, GAAP Operating Income of $27.7 million and a 25-year Record Adjusted EBITDA of $42.2 million

    Expects 2025 Revenues to increase by 36%-50%

    Announces New Reporting Segments

    PETAH TIKVA, Israel, Feb. 12, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its unaudited results for the fourth quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    • Revenue of $78.1 million, up 3% compared with $75.6 million in Q4 2023;
    • GAAP operating income of $12.8 million, compared with $2.9 million in Q4 2023;
    • Non-GAAP operating income of $9.7 million, compared with $6.1 million in Q4 2023;
    • GAAP net income of $11.8 million, or $0.21 per diluted share, compared with $3.4 million, or $0.06 per diluted share, in Q4 2023;
    • Non-GAAP net income of $8.5 million, or $0.15 per diluted share, compared with $6.5 million, or $0.11 per diluted share, in Q4 2023;
    • Adjusted EBITDA of $12.1 million, up 30% compared with $9.4 million in Q4 2023.

    Full year 2024 Financial Highlights

    • Revenue of $305.4 million, up 15% compared with $266.1 million in 2023;
    • GAAP operating income of $27.7 million, compared with $28.1 million in 2023;
    • Non-GAAP operating income of $31.9 million, up 35% compared with $23.5 million in 2023;
    • GAAP net income of $24.8 million, or $0.44 per diluted share, compared with $23.5 million, or $0.41 per diluted share in 2023;
    • Non-GAAP net income of $28.2 million, or $0.49 per diluted share, compared with $19.9 million, or $0.35 per diluted share 2023;
    • Adjusted EBITDA was $42.2 million, up 16% compared with adjusted EBITDA of $36.4 million in 2023.

    2025 Guidance

    Management’s financial guidance for 2025 is for revenues of between $415 to $455 million, and Adjusted EBITDA is expected to be between $47 to $53 million1.

    Adi Sfadia, Gilat’s CEO, commented, “Gilat delivered strong results with profitability of Adjusted EBITDA of $12.1 million for the fourth quarter and $42.2 million for the entire year. These results alongside our strong generation of cash flow underscore the strength and resilience of our core business model, demonstrating both operating leverage and the positive impact of our current product revenue mix.”

    “During the fourth quarter our Defense and In-Flight Connectivity business continued to experience strong momentum with increased orders and awards. The Defense segment, with a focus on the US DoD, represents a significant growth opportunity for Gilat. We are pleased with our progress in expanding opportunities to serve the specialized needs of government and military customers with our innovative satellite solutions,” Mr. Sfadia continued. “With the closing of the Stellar Blu acquisition, our Commercial business is poised for significant growth as we establish our leadership in the expanding Electronically Steerable Antenna (ESA) market. Our portfolio of IFC GEO, LEO and multi-orbit solutions will be instrumental in capitalizing on increasing demand for inflight connectivity by airlines and passengers.”

    Mr. Sfadia concluded, “Looking ahead into 2025, given the significant potential we see in the defense market and our view of this as a strategic growth engine, we plan to increase our investment in R&D, Sales and Marketing of the Defense Segment. We believe that this targeted increase will allow us to take advantage of the opportunities we see quicker and more decisively to ensure a long term growth in this market. Coupled with our recent acquisitions and positioning in the Satcom market, Gilat has the resource base to scale the IFC and Defense businesses and our track record of profitable, cash generating growth, provides a strong foundation for Gilat’s continued success.”

    Commencing January 1, 2025, the company has implemented a new organizational structure and reportable segments. The new organizational structure and segment reporting are designed to better target the diverse and attractive end markets the company serves and to provide investors with greater insight into Gilat’s business lines and strategic growth opportunities. The company will report financial results based on the following three divisions: Gilat Defense, Gilat Commercial and Gilat Peru.

    • Gilat Defense Division: provides secure, rapid-deployment solutions for military organizations, government agencies, and defense integrators, with a strong focus on the U.S. Department of Defense resulting from our strategic acquisition of DataPath Inc. By integrating technologies from Gilat, Gilat DataPath, and Gilat Wavestream, the division delivers resilient battlefield connectivity with multiple layers of communication redundancy for high availability.
    • Gilat Commercial Division: provides advanced broadband satellite communication networks for IFC, Enterprise and Cellular Backhaul, supporting HTS, VHTS, and NGSO constellations with turnkey solutions for service providers, satellite operators, and enterprises. Our acquisition of Stellar Blu serves as the cornerstone of this division, strengthening our position in the IFC market and enabling us to provide cutting-edge connectivity solutions that meet the demands of passengers, airlines, and service providers worldwide.
    • Gilat Peru Division: specializes in end-to-end telco solutions, including the operation and implementation of large-scale network projects. With expertise in terrestrial fiber optic, wireless, and satellite networks, Gilat Peru provides technology integration, managed networks and services, connectivity solutions, and reliable internet and voice access across the region.

    Gilat has prepared unaudited illustrations of the company’s financial reports for Fiscal Years 2023 and 2024 to reflect the company’s results based on the new segment reporting, which can be found in the IR section on Gilat’s website. For additional information about Gilat’s new divisional structure, please click here: Link

    Key Recent Announcements

    • Gilat Secures Over $18 Million Orders Addressing Demand for In-Flight Connectivity Solutions
    • Gilat Receives $9 Million in Orders for Multi-Orbit SkyEdge Platforms
    • Gilat Completes Acquisition of Stellar Blu Solutions LLC
    • Gilat and Hispasat Provided Immediate Satellite Communication to Support Disaster Recovery Efforts After Hurricane Helene
    • Gilat Receives Over $3 Million in Orders to Support LEO Constellations
    • Gilat Awarded Over $5 Million in orders to Support Critical Connectivity for Defense Forces
    • Gilat Receives $4M in Orders for Advanced Portable Terminals from Global Defense Customers

    Conference Call Details

    Gilat’s Management will discuss its fourth quarter and full year 2024 results and business achievements and participate in a question-and-answer session:

    Date: Wednesday, February 12, 2025
    Start: 09:30 AM EST / 16:30 IST
    Dial-in: US: 1-888-407-2553
      International: +972-3-918-0609
       

    A simultaneous webcast of the conference call will be available on the Gilat website at gilat.com and through this link: https://veidan.activetrail.biz/gilatq4-2024

    The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.

    Non-GAAP Measures

    The attached summary unaudited financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). To supplement the consolidated financial statements presented in accordance with GAAP, the Company presents non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, Adjusted EBITDA, and earnings per share. The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors with a more complete understanding of the Company’s underlying operational results, trends, and performance. Non-GAAP financial measures mainly exclude, if and when applicable, the effect of stock-based compensation expenses, amortization of purchased intangibles, lease incentive amortization, other non-recurring expenses, other integration expenses, other operating expenses (income), net, and income tax effect on the relevant adjustments.

    Adjusted EBITDA is presented to compare the Company’s performance to that of prior periods and evaluate the Company’s financial and operating results on a consistent basis from period to period. The Company also believes this measure, when viewed in combination with the Company’s financial results prepared in accordance with GAAP, provides useful information to investors to evaluate ongoing operating results and trends. Adjusted EBITDA, however, should not be considered as an alternative to operating income or net income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under GAAP and may not be comparable to other similarly titled measures for other companies. Reconciliation between the Company’s net income and adjusted EBITDA is presented in the attached summary financial statements.

    Non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, adjusted EBITDA and earnings per share should not be considered in isolation or as a substitute for any of the consolidated statements of operations prepared in accordance with GAAP, or as an indication of Gilat’s operating performance or liquidity.

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we develop and deliver deep technology solutions for satellite, ground, and new space connectivity, offering next-generation solutions and services for critical connectivity across commercial and defense applications. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Together with our wholly-owned subsidiaries—Gilat Wavestream, Gilat DataPath, and Gilat Stellar Blu—we offer integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) via our Commercial and Defense Divisions. Our comprehensive portfolio is comprised of a cloud-based platform and modems; high-performance satellite terminals; advanced Satellite On-the-Move (SOTM) antennas and ESAs; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense markets, field services, network management software, and cybersecurity services.

    Gilat’s products and tailored solutions support multiple applications including government and defense, IFC and mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the terrorist attacks by Hamas, and the hostilities between Israel and Hamas and Israel and Hezbollah. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

    Contact:

    Gilat Satellite Networks

    Hagay Katz, Chief Product and Marketing Officer
    hagayk@gilat.com

    Alliance Advisors:

    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    _________________
    1     We do not provide forward-looking guidance on a GAAP basis because we are unable to reasonably provide forward-looking guidance for certain financial data, such as amortization of purchased intangibles and earnout-based expenses related to recent acquisitions. As a result, we are not able to provide a reconciliation of GAAP to non-GAAP financial measures for forward-looking data without unreasonable effort.

     
    GILAT SATELLITE NETWORKS LTD.
    CONSOLIDATED STATEMENTS OF INCOME 
    U.S. dollars in thousands (except share and per share data)
                       
          Twelve months ended 
    		    Three months ended 
           December 31, 
    		   December 31, 
            2024       2023       2024       2023  
          Unaudited   Audited   Unaudited
                       
    Revenues   $ 305,448     $ 266,090     $ 78,128     $ 75,612  
    Cost of revenues     192,117       161,145       47,107       46,692  
                       
    Gross profit     113,331       104,945       31,021       28,920  
                       
    Research and development expenses, net   38,136       41,173       10,108       11,624  
    Selling and marketing expenses   27,381       25,243       6,657       7,119  
    General and administrative expenses   26,868       19,215       6,192       6,312  
    Other operating expenses (income), net      (6,751 )     (8,771 )     (4,706 )     986  
                       
    Total operating expenses      85,634       76,860       18,251       26,041  
                       
    Operating income      27,697       28,085       12,770       2,879  
                       
    Financial income, net       1,504       109       63       1,196  
                       
    Income before taxes on income   29,201       28,194       12,833       4,075  
                       
    Taxes on income     (4,352 )     (4,690 )     (1,069 )     (628 )
                       
    Net income   $ 24,849     $ 23,504     $ 11,764     $ 3,447  
                       
    Earnings per share (basic and diluted)  $ 0.44     $ 0.41     $ 0.21     $ 0.06  
                       
    Weighted average number of shares used in               
      computing earnings per share                
      Basic      57,016,920       56,668,999       57,017,032       56,820,774  
      Diluted     57,016,920       56,672,537       57,017,032       56,820,774  
                                             
    GILAT SATELLITE NETWORKS LTD.
    RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME 
    FOR COMPARATIVE PURPOSES 
    U.S. dollars in thousands (except share and per share data)  
                             
         Three months ended     Three months ended 
        December 31, 2024   December 31, 2023
        GAAP   Adjustments (*)   Non-GAAP   GAAP   Adjustments (*)   Non-GAAP
        Unaudited   Unaudited
                             
    Gross profit $ 31,021   $ 575     $ 31,596   $ 28,920   $ 617     $ 29,537
    Operating expenses   18,251     3,680       21,931     26,041     (2,615 )     23,426
    Operating income    12,770     (3,105 )     9,665     2,879     3,232       6,111
    Income before taxes on income   12,833     (3,105 )     9,728     4,075     3,232       7,307
    Net income $ 11,764   $ (3,252 )   $ 8,512   $ 3,447   $ 3,097     $ 6,544
                             
    Basic earnings per share  $ 0.21   $ (0.06 )   $ 0.15   $ 0.06   $ 0.06     $ 0.12
                             
    Diluted earnings per share $ 0.21   $ (0.06 )   $ 0.15   $ 0.06   $ 0.05     $ 0.11
                             
                             
    Weighted average number of shares used in                       
    computing earnings per share                      
    Basic    57,017,032         57,017,032     56,820,774         56,820,774
    Diluted    57,017,032         57,024,316     56,820,774         56,987,939
                             
    (*) Adjustments reflect the effect of stock-based compensation expenses as per ASC 718, amortization of purchased intangibles, other operating income (expenses), net, other integration expenses and income tax effect on such adjustments which is calculated using the relevant effective tax rate.
              
        Three months ended   Three months ended
        December 31, 2024   December 31, 2023
            Unaudited           Unaudited    
                             
    GAAP net income      $ 11,764             $ 3,447      
                             
    Gross profit                      
    Stock-based compensation expenses       133               129      
    Amortization of purchased intangibles       389               448      
    Other integration expenses       53               40      
              575               617      
    Operating expenses                      
    Stock-based compensation expenses       653               796      
    Stock-based compensation expenses related to business combination   140               662      
    Amortization of purchased intangibles       216               162      
    Other operating income (expenses), net and other integration expenses   (4,689 )             995      
              (3,680 )             2,615      
                             
    Taxes on income       (147 )             (135 )    
                             
    Non-GAAP net income      $ 8,512             $ 6,544      
                                                 
    GILAT SATELLITE NETWORKS LTD.
    RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME 
    FOR COMPARATIVE PURPOSES 
    U.S. dollars in thousands (except share and per share data)  
                                 
             Twelve months ended     Twelve months ended 
            December 31, 2024   December 31, 2023
            GAAP   Adjustments (*)   Non-GAAP   GAAP   Adjustments (*)   Non-GAAP
            Unaudited   Audited   Unaudited
                                 
    Gross profit     $ 113,331   $ 3,673     $ 117,004   $ 104,945   $ 895     $ 105,840
    Operating expenses        85,634     (500 )     85,134     76,860     5,434       82,294
    Operating income       27,697     4,173       31,870     28,085     (4,539 )     23,546
    Income before taxes on income       29,201     4,173       33,374     28,194     (4,539 )     23,655
    Net income      $ 24,849   $ 3,376     $ 28,225   $ 23,504   $ (3,597 )   $ 19,907
                                 
    Basic earnings per share      $ 0.44   $ 0.06     $ 0.50   $ 0.41   $ (0.06 )   $ 0.35
                                 
    Diluted earnings per share     $ 0.44   $ 0.05     $ 0.49   $ 0.41   $ (0.06 )   $ 0.35
                                 
    Weighted average number of shares used in                        
    computing earnings per share                          
    Basic        57,016,920         57,016,920     56,668,999         56,668,999
    Diluted        57,016,920         57,041,778     56,672,537         56,784,601
                                 
    (*) Adjustments reflect the effect of stock-based compensation expenses as per ASC 718, amortization of purchased intangibles, other operating income, net, other non-recurring expenses, other integration expenses and income tax effect on such adjustments which is calculated using the relevant effective tax rate.
             
            Twelve months ended   Twelve months ended
            December 31, 2024   December 31, 2023
                Unaudited           Unaudited    
                                 
    GAAP net income         $ 24,849             $ 23,504      
                                 
    Gross profit                          
    Stock-based compensation expenses           518               407      
    Amortization of purchased intangibles           2,412               448      
    Other non-recurring expenses           466               –      
    Other integration expenses           277               40      
                  3,673               895      
    Operating expenses                          
    Stock-based compensation expenses           2,771               2,354      
    Stock-based compensation expenses related to business combination   3,437               662      
    Amortization of purchased intangibles        988               312      
    Other operating income, net and other integration expenses        (6,696 )             (8,762 )    
                  500               (5,434 )    
                                 
    Taxes on income           (797 )             942      
                                 
    Non-GAAP net income          $ 28,225             $ 19,907      
    GILAT SATELLITE NETWORKS LTD.
    SUPPLEMENTAL INFORMATION
    U.S. dollars in thousands
                         
    ADJUSTED EBITDA:                  
                         
             Twelve months ended 
    		    Three months ended 
             December 31, 
    		   December 31, 
              2024       2023       2024       2023  
            Unaudited   Unaudited
                         
    GAAP net income       $ 24,849     $ 23,504     $ 11,764     $ 3,447  
    Adjustments:                  
    Financial income, net          (1,504 )     (109 )     (63 )     (1,196 )
    Taxes on income       4,352       4,690       1,069       628  
    Stock-based compensation expenses       3,289       2,761       786       925  
    Stock-based compensation expenses related to business combination   3,437       662       140       662  
    Depreciation and amortization (*)       13,777       13,627       3,068       3,862  
    Other operating expenses (income), net     (6,751 )     (8,771 )     (4,706 )     986  
    Other non-recurring expenses       466       –       –       –  
    Other integration expenses       332       49       70       49  
                         
    Adjusted EBITDA     $ 42,247     $ 36,413     $ 12,128     $ 9,363  
                         
    (*) Including amortization of lease incentive            
                 
    SEGMENT REVENUES:            
            Twelve months ended 
    		    Three months ended 
             December 31, 
    		    December 31, 
              2024       2023       2024       2023  
            Unaudited
    		   Audited
    		   Unaudited
                         
    Satellite Networks     $ 198,174     $ 168,527     $ 49,064     $ 53,517  
    Integrated Solutions       54,925       46,133       17,257       9,503  
    Network Infrastructure and Services        52,349       51,430       11,807       12,592  
                         
    Total revenues     $ 305,448     $ 266,090     $ 78,128     $ 75,612  
    GILAT SATELLITE NETWORKS LTD.
    CONSOLIDATED BALANCE SHEETS
    U.S. dollars in thousands
             
        December 31,   December 31,
          2024       2023  
        Unaudited   Audited
             
    ASSETS        
             
    CURRENT ASSETS:        
    Cash and cash equivalents   $ 119,384     $ 103,961  
    Restricted cash     853       736  
    Trade receivables, net     53,554       44,725  
    Contract assets     20,987       28,327  
    Inventories     38,890       38,525  
    Other current assets     21,963       24,299  
             
    Total current assets     255,631       240,573  
             
    LONG-TERM ASSETS:        
    Restricted cash     12       54  
    Long-term contract assets     8,146       9,283  
    Severance pay funds     5,966       5,737  
    Deferred taxes     11,896       11,484  
    Operating lease right-of-use assets     6,556       5,105  
    Other long-term assets     5,288       9,544  
             
    Total long-term assets     37,864       41,207  
             
    PROPERTY AND EQUIPMENT, NET     70,834       74,315  
             
    INTANGIBLE ASSETS, NET     12,925       16,051  
             
    GOODWILL     52,494       54,740  
             
    TOTAL ASSETS   $ 429,748     $ 426,886  
             
    GILAT SATELLITE NETWORKS LTD.
    CONSOLIDATED BALANCE SHEETS (Cont.)
    U.S. dollars in thousands (except share data)
             
        December 31,   December 31,
          2024       2023  
        Unaudited   Audited
             
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
             
    CURRENT LIABILITIES:        
    Short-term debt   $ –     $ 7,453  
    Trade payables      17,107       13,873  
    Accrued expenses      45,368       51,906  
    Advances from customers and deferred revenues     18,587       34,495  
    Operating lease liabilities     2,557       2,426  
    Other current liabilities     17,817       16,431  
             
    Total current liabilities     101,436       126,584  
             
    LONG-TERM LIABILITIES:        
    Long-term loan     2,000       2,000  
    Accrued severance pay     6,677       6,537  
    Long-term advances from customers and deferred revenues     580       1,139  
    Operating lease liabilities     4,014       3,022  
    Other long-term liabilities     10,606       12,916  
             
    Total long-term liabilities     23,877       25,614  
             
    SHAREHOLDERS’ EQUITY:        
    Share capital – ordinary shares of NIS 0.2 par value      2,733       2,733  
    Additional paid-in capital     943,294       937,591  
    Accumulated other comprehensive loss     (6,120 )     (5,315 )
    Accumulated deficit     (635,472 )     (660,321 )
             
    Total shareholders’ equity     304,435       274,688  
             
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 429,748     $ 426,886  
                                       
    GILAT SATELLITE NETWORKS LTD.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    U.S. dollars in thousands
                       
          Twelve months ended 
    		   Three months ended 
          December 31, 
    		    December 31, 
            2024       2023       2024       2023  
          Unaudited   Audited   Unaudited
    Cash flows from operating activities:                
    Net income   $ 24,849     $ 23,504     $ 11,764     $ 3,447  
    Adjustments required to reconcile net income to net cash provided by operating activities:                
    Depreciation and amortization     13,554       13,402       3,012       3,805  
    Capital gain from sale of property      –       (2,084 )     –       –  
    Stock-based compensation *)     6,726       3,423       926       1,587  
    Accrued severance pay, net     (89 )     167       (72 )     12  
    Deferred taxes, net     1,834       2,662       298       (1,203 )
    Decrease (increase) in trade receivables, net     (9,347 )     13,448       (2,328 )     9,561  
    Decrease (increase) in contract assets     8,519       (1,694 )     11,506       (7,804 )
    Decrease (increase) in other assets and other adjustments (including                 
    short-term, long-term and effect of exchange rate changes on cash and cash equivalents)     11,661       (351 )     8,590       (3,949 )
    Decrease (increase) in inventories, net     (1,928 )     (2,387 )     544       3,798  
    Increase (decrease) in trade payables     3,196       (7,635 )     (1,884 )     (2,314 )
    Increase (decrease) in accrued expenses     (5,906 )     735       (8,581 )     3,517  
    Increase (decrease) in advances from customers and deferred revenues     (16,390 )     803       (4,228 )     (1,843 )
    Increase (decrease) in other liabilities     (5,010 )     (12,049 )     (3,265 )     1,343  
    Net cash provided by operating activities     31,669       31,944       16,282       9,957  
                       
    Cash flows from investing activities:                
    Purchase of property and equipment     (6,610 )     (10,746 )     (2,515 )     (2,090 )
    Acquisitions of subsidiary, net of cash acquired     –       (4,107 )     –       (4,107 )
    Receipts from sale of property     –       2,168       –       –  
    Net cash used in investing activities     (6,610 )     (12,685 )     (2,515 )     (6,197 )
                       
    Cash flows from financing activities:                
    Repayment of credit facility, net     (7,453 )     (1,590 )     –       (1,590 )
    Repayments of short-term debts     (7,836 )     –       (3,793 )     –  
    Proceeds from short-term debts     7,836       –       1,066       –  
    Costs associated with entering into a long-term debt     (654 )     –       (654 )     –  
    Net cash used in financing activities     (8,107 )     (1,590 )     (3,381 )     (1,590 )
                       
    Effect of exchange rate changes on cash, cash equivalents and restricted cash     (1,454 )     (63 )     (896 )     2,288  
                       
    Increase in cash, cash equivalents and restricted cash     15,498       17,606       9,490       4,458  
                       
    Cash, cash equivalents and restricted cash at the beginning of the period     104,751       87,145       110,759       100,293  
                       
    Cash, cash equivalents and restricted cash at the end of the period   $ 120,249     $ 104,751     $ 120,249     $ 104,751  
                       
    *)    Stock-based compensation including expenses related to business combination in the amounts of $3,437 and $662 for the twelve months ended December 31, 2024 and 2023, respectively.
         Stock-based compensation including expenses related to business combination in the amounts of $140 and $662 for the three months ended December 31, 2024 and 2023, respectively.

    The MIL Network –

  • MIL-OSI China: Mainland condemns US-Japan joint declaration for containing irresponsible Taiwan remarks

    Source: China State Council Information Office

    A file photo of Zhu Fenglian, spokesperson for the Taiwan Affairs Office of the State Council. [Photo/Xinhua]

    A mainland spokesperson on Wednesday condemned the recent U.S.-Japan joint declaration for its irresponsible remarks on Taiwan, calling it a blatant interference in China’s internal affairs.

    Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office, made the comments in response to a media query concerning the joint declaration reached between leaders of the United States and Japan after their recent meeting.

    Zhu urged the United States to abide by the one-China principle and three China-U.S. joint communiques and stop sending any wrong signal to “Taiwan independence” separatist elements.

    Noting that Japan is a country with historical responsibility regarding the Taiwan question, Zhu said Japan should learn from history, exercise caution in its words and actions, adhere to the four China-Japan political documents, and handle Taiwan-related issues prudently.

    She also warned the Democratic Progressive Party authorities in Taiwan that any attempt to rely on external forces to divide the country is doomed to fail.

    MIL OSI China News –

  • MIL-OSI: MEXC Unveils February Futures Trading Competition with 8,000,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 12, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, is thrilled to announce the launch of its highly anticipated Futures Trading Competition, set to take place from February 12 to February 26, 2025. This event offers participants the opportunity to sharpen their trading skills and compete for a substantial prize pool that can reach an impressive 8,000,000 USDT based on the number of participants.

    Event Timeline

    • Registration Period: February 11, 2025, 08:00 – February 26, 2025, 14:55 (UTC)
    • Event Period: February 12, 2025, 15:00 – February 26, 2025, 14:59 (UTC)

    Who Can Participate?

    The competition is open to all participants who maintain a minimum Futures wallet balance of 200 USDT. MEXC will verify the eligibility of registered participants prior to the competition. Participants who do not meet this requirement can easily adjust their wallet balance and re-register for a chance to compete.

    Prize Pool Unlocks Up to 8,000,000 USDT

    The Futures Trading Competition opens with a 1,000,000 USDT prize pool. As the competition unfolds and participant numbers hit the 150,000 mark, the prize pool grows to 8,000,000 USDT. This progressive prize structure is designed to increase participation and trading volume, thereby enhancing the stakes and rewards for all involved.

    Ways to Win: Futures Bonuses and Prize Pool Breakdown

    Traders can claim their share of the prize pool and win Futures Bonuses through several ways, including:

    Lucky Spin: Share 35% of the Total Prize Pool
    Every participant has the chance to spin the Lucky Wheel. For every 150,000 USDT in daily trading volume, participants earn one spin, with the opportunity to spin up to 3 times daily. Each spin offers random Futures bonuses from the prize pool until all bonuses are claimed. Spins reset daily at 14:59 (UTC), providing participants with fresh opportunities to earn rewards each day.

    Top Ranking Traders: Share 35% of the Total Prize Pool
    Participants with a cumulative USDT-M Futures trading volume of at least 20,000 USDT will qualify for the PNL and Daily Trading Volume rankings.

    • The top 200 traders by Daily Trading Volume will share 25% of the prize pool.
    • The top 100 traders by PNL will share 10% of the prize pool.

    Special Rewards for Exceeding Daily Trading Volume Threshold
    If the overall daily trading volume exceeds a specific threshold, participants will be eligible to claim additional rewards and Futures bonuses.

    Best of MEXC

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 32 million by providing a diverse selection of tokens, high-frequency airdrops, and simple participation processes. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74acc1a4-044f-42ee-81b5-d3303fddab4a

    The MIL Network –

  • MIL-OSI United Kingdom: Government completes legislation for infected blood scheme

    Source: United Kingdom – Executive Government & Departments

    Completed legislation will widen compensation service to all eligible victims of the Infected Blood Scandal.

    • New draft laws will be debated and approved by Parliament before becoming law in March

    • Over £13.4 million already paid out to infected individuals, and £11.8 billion allocated in the Autumn Budget

    Today the government will deliver on its commitment to complete its legislation underpinning the Infected Blood Compensation Scheme, which will widen the compensation service to all eligible victims of the Infected Blood Scandal.  

    This will ensure that parents, partners, children, siblings and some carers of those who contracted illnesses will also be able to apply for compensation, and take another important step towards justice. 

    Existing legislation underpinning the compensation scheme applied to people who contracted illnesses, as a result of the scandal, rather than those who were indirectly affected. 

    This first phase of legislation was established in August 2024, just weeks after the General Election. It gave the Infected Blood Compensation Authority the powers to pay compensation to both living and deceased victims who contracted illnesses. 

    The Government allocated £11.8 billion in the Autumn Budget to compensate victims of the Infected Blood Scandal, with these new laws setting out more detail on how funds will be administered.

    The draft laws will be debated and must be approved by both Houses of Parliament to then formally be established as laws, which the Government hopes will happen by the 31st March 2025.

    Once this happens, the Infected Blood Compensation Authority will have the required powers to pay compensation to all victims who are eligible under the Infected Blood Compensation Scheme.

    The Infected Blood Compensation Authority is an independent organisation set up by the Cabinet Office on recommendation from the Infected Blood Inquiry. It has already started to provide compensation to victims who contracted illnesses, with over £13.4 million paid by mid-January.

    Paymaster General and Minister for the Cabinet Office, The Rt Hon. Nick Thomas-Symonds MP, said:

    This Government is determined to deliver justice for the victims of the Infected Blood Scandal and is going further than any other before.

    Having met many of the infected blood community, I know the scale of suffering people have endured. These new laws will be vital to delivering compensation to people who did such a huge amount and often suffered so much themselves when caring for their loved ones who contracted life-changing illnesses.

    I hope that completing this legislation and allocating over £11 billion in the budget brings a sense of reassurance to the community of how committed this government is to delivering justice.  

    Ends

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Fourth UK-India Energy Dialogue: joint statement

    Source: United Kingdom – Executive Government & Departments

    This joint statement was released following the meeting between UK Energy Secretary, Ed Miliband and India’s Minister of Power, Manohar Lal.

    The Fourth India-UK Energy Dialogue, co-chaired by Shri Manohar Lal, Union Minister of Power, India and Mr Ed Miliband, Secretary for Energy Security and Net Zero for United Kingdom, was held in, New Delhi on Monday 10th February, 2025.

    The dialogue focused on reviewing progress made in the energy sectors of both nations, including power and renewable energy, and reaffirming the commitment to a sustainable, resilient, and inclusive energy future. including across the breadth of sectors represented. They expressed satisfaction over the progress made to support green and sustainable growth, alongside accelerating the clean energy transition and ensuring energy security. The Ministers underscored the importance of ensuring that the energy transition and economic growth proceed together, while maintaining affordable and clean energy access for all.

    The Ministers underscored the importance of ensuring energy security and sustainable development and emphasised expanding the cooperation in the areas of power distribution, sector reforms, industrial energy efficiency and de-carbonisation, and electric mobility while exploring new opportunities in the emerging fields such as energy storage, green data centres, and offshore wind, with an increased focus on MSMEs.

    The Ministers were pleased to announce the launch of Phase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India programme. This phase will aim to provide technical support for ensuring round the clock power supply, expanding renewable energy initiatives, and accelerating industrial energy efficiency and de-carbonisation, in collaboration with the Ministry of Power (MOP) and Ministry of New and Renewable Energy (MNRE).

    The Ministers were pleased to observe the bilateral collaboration between the two sides to promote growth and jobs, through technical assistance cooperation and investment. They also discussed the progress of trade missions focusing on offshore wind and green hydrogen, as well as the cooperation between the UK’s Energy Systems Catapult and India’s Power Trading Corporation.

    Recognising the shared ambition for advancing offshore wind development, the Ministers announced the establishment of a UK-India Offshore Wind Taskforce, which will focus on advancing offshore wind ecosystem development, supply chains, and financing models in both countries. Mr Miliband commended India’s ambitious initiatives in the renewable energy sector and shown a strong interest in gaining insights from India’s experience in implementing the Solar Rooftop Programme (PM – Surya Ghar Muft Bijli Yojna).

    The Ministers agreed on the importance of power market regulations in driving the energy transition and ensuring greater energy security and access. To support this, they announced the continuation of the Power Sector Reforms programme under the UK Partnering for Accelerating Climate Change (UKPACT). Additionally, a new taskforce has been proposed between the UK’s Office of Gas and Electricity Markets and India’s Central Electricity Regulatory Commission to support renewable energy integration and grid transformation in India.

    Both Ministers emphasised the ongoing value of the India-UK Energy Dialogue in advancing mutual energy transition goals, ensuring energy access, and building secure and sustainable clean energy supply chains while aligning these efforts with economic growth.

    The Ministers expressed their intention to further strengthen their collaboration through the Comprehensive Strategic Partnership and looked forward to the fifth UK-India Energy Dialogue in 2026. The dialogue concluded with the launch of the ‘Best Practices Compendium of Industrial Energy Efficiency/Decarbonisation’ and a ‘Pathways for Energy Efficiency and Decarbonisation in the Indian Aluminium Sector’.

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Probation Service to cut crime by focusing on dangerous offenders

    Source: United Kingdom – Executive Government & Departments

    Probation staff will focus more of their time on prolific offenders and monitoring the most dangerous people

    • More intensive supervision of medium and high-risk offenders
    • 1,300 new probation officers to be recruited next year
    • New tech to increase officers’ face to face time with offenders

    Speaking at a probation office in London (12 February), Justice Secretary Shabana Mahmood set out her vision for the future of a Probation Service that protects the public, reduces reoffending and makes our streets safer as part of the Government’s plan for change.

    To support this work, the Justice Secretary announced that 1,300 new probation officers will be recruited by March 2026. These new hires are in addition to the 1,000 officers to be recruited by this March, previously announced by Shabana Mahmood when she took office in July last year.

    In her speech, the Justice Secretary argued that probation officers have been asked to do too much for too long. They have been burdened with high workloads and a one size fits all approach to managing offenders, regardless of the risk that they present to the public. This has meant officers have been unable to pay enough attention to those offenders who pose the greatest risk to society. This has led, in some cases, to missed warning signs where offenders have gone on to commit serious further offences, including murder.

    With all probation units inspected in 2024 marked as “inadequate” or “requires improvement”, changes will now be made to help staff refocus their efforts where they have the greatest impact – with the offenders who need the most attention.

    The Lord Chancellor and Justice Secretary, Shabana Mahmood said:

    The Probation Service must focus more time with offenders who are a danger to the public, and the prolific offenders whose repeat offending make life a misery for so many.

    That means for low-risk offenders, we need to change our approach too. We need to tackle the root causes of their reoffending, and end a one-size-fits-all approach that isn’t working.

    The first job of the state is to keep its people safe.  Today, as part of our Plan for Change, I have set out changes to the probation service to protect the public and make our streets safer.

    Greater time with higher risk offenders will be made possible by changing probation’s approach to the management of low risk offenders.  Probation staff will now intervene earlier with these offenders, to understand the support they require and refer them to the services that will tackle the root causes of their reoffending.

    These interventions are crucial as the latest data shows that the reoffending rate for those without stable accommodation is double those who are homeless, offenders employed six weeks after leaving prison had a reoffending rate around half of those out of work, and reoffending amongst those who complete drug treatment are 19 percentage points lower. This will help tackle a pressing issue the Criminal Justice System faces, with around 80 percent% of offenders now reoffenders.

    The Chief Inspector of Probation, Martin Jones said:

    The Probation Service does a vital job; however, our independent inspections highlight the serious challenges it faces- too few staff, with too little experience, managing too many cases to succeed.

    These plans, which rightly focus on increasing probation resources and prioritising the most serious cases, are a positive step towards increasing impact on reoffending and better protecting the public.

    To reduce the administrative burden resting on probation officers’ shoulders, the Justice Secretary will also introduce new technology including:

    • A digital tool that will put all the information a probation officer might need to know about an offender into one place.
    • Trialling a new system for risk assessing offenders, to make it more straightforward for probation officers to make robust decisions.
    • Exploring the potential of AI to be used to automatically record and transcribe supervision conversations by taking notes in real time, which will allow probation staff to focus on building relationships while removing the need to write up notes into a computer afterwards.

    In her speech, the Justice Secretary also exposed one of the inherited workload challenges faced by the probation service, which the Government will now address. Accredited Programmes are rehabilitative courses handed down by the courts to offenders to address the causes of their criminality.

    Over the three years to April 2024, the probation service did not deliver these courses to nearly 14,000 offenders before their sentence expired. To address this issue, the Probation Service must now put in place a process of prioritisation so they will be delivered to offenders at the greatest risk of reoffending or causing serious harm. For those who will now not complete an accredited programme, they remain under the supervision of a probation officer. All the other requirements they face will remain in place.

    Further information:

    • Today’s speech will be published on gov.uk
    • Guidance will be issued to staff in the coming weeks to deliver these crucial changes that will ultimately help to cut crime and keep the public safe.

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Regulator to investigate Christian aid charity over unexplained spending

    Source: United Kingdom – Executive Government & Departments

    The Charity Commission has opened a statutory inquiry into Total Healing World Outreach over concerns about financial decisions.

    Total Healing World Outreach was established to advance the Christian faith in the UK and overseas, and to prevent and relieve poverty.

    The Charity regulator for England and Wales began engaging with the charity in June 2023 as trustees had failed to supply the charity’s accounts and financial information on time every year since its registration, except for the year ending July 2023.

    The Charity Commission has now escalated its engagement to a statutory inquiry after a financial analysis uncovered so far unexplained payments made to several individuals and companies. The inquiry will examine the charity’s finances in more detail, including whether the loans taken out by the trustees were in the charity’s best interests.

    The investigation will also consider if trustees are complying with their legal duties in respect of the administration, governance and management of the charity, specifically looking at:

    • the charity’s financial management, including the extent of any related party transactions, unauthorised trustee personal benefit and the trustees’ compliance with their legal obligations to file the charity’s accounts and annual returns on time and to an appropriate standard
    • if the trustees are adequately managing the charity in accordance with its governing document and in accordance with their legal duties
    • the extent to which any failings or weaknesses identified in the administration of the charity are a result of misconduct and/or mismanagement by the trustees

    The Commission may extend the scope of either inquiry if additional regulatory issues emerge.

    It is the Commission’s policy, after it has concluded an inquiry, to publish a report detailing what issues the inquiry looked at, what actions were undertaken as part of the inquiry and what the outcomes were. 

    ENDS

    Notes to editors

    1. The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. Find out more: About us – The Charity Commission – GOV.UK
    2. On 15th January 2025, the Charity Commission opened a statutory inquiry into the charity under section 46 of the Charities Act 2011 as a result of its regulatory concerns that there is or has been misconduct and/or mismanagement in the administration of the charity.
    3. A statutory inquiry is a legal power enabling the Commission to formally investigate matters of regulatory concern within a charity and to use protective powers for the benefit of the charity and its beneficiaries, assets, or reputation.
    4. An inquiry will investigate and establish the facts of the case so that the Commission can determine the extent of any misconduct and/or mismanagement; the extent of the risk to the charity, its work, property, beneficiaries, employees or volunteers; and decide what action is needed to resolve the concerns.

    Press office

    Email pressenquiries@charitycommission.gov.uk

    Out of hours press office contact number: 07785 748787

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: LCQ3: Promoting development of low-altitude economy

    Source: Hong Kong Government special administrative region

         â€‹Following is a question by the Hon Elizabeth Quat and a reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (February 12):

    Question:

         Low-altitude economy (LAE), with its long industrial chain, extensive application scenarios and huge development potential, is a model for fostering new quality productive forces. In the 2024 Policy Address, the Chief Executive has announced the work direction for promoting the development of LAE, with a view to pressing ahead with the promotion of LAE as one of the growth engines of new quality productive forces. In this connection, will the Government inform this Council:

    (1) given that the Government accepted applications for the first batch of LAE Regulatory Sandbox pilot projects at the end of last year, of the progress of processing the applications and when successful applications will commence their projects; of the details of the second batch applications;

    (2) given that the aforesaid Policy Address proposes to explore with the Mainland the joint establishment of low-altitude cross-boundary air routes, immigration and customs clearance arrangements and supporting infrastructure, etc, of the details and progress of the relevant work plan; and

    (3) given that the Government has previously remarked in its reply to my question that various government departments have applied small unmanned aircraft in different scenarios, and have integrated such applications with artificial intelligence (AI) technologies to perform certain tasks, so as to enhance the efficiency of urban management and public services, yet there is no mention on whether it would explore the establishment of an “AI-integrated unmanned aircraft urban management system” for use by and sharing of data and information among different government departments, whether the Government will, by drawing on the experience of the relevant Mainland departments in sharing and collaboration, promote institutional innovation to reform urban management?

    Reply: 

    President,

         In the 2024 Policy Address, the Chief Executive announced the work direction for promoting the development of low-altitude economy (LAE), which includes designating specific application sites to implement pilot projects. We will adopt a “top-level planning” approach as the core, starting from the perspective of overall infrastructure planning. Leveraging Hong Kong’s unique advantages of “one country, two systems”, connection with both the Mainland and the world, as well as a diverse talent pool, we will harness Hong Kong’s strengths in the area of LAE to contribute to the nation’s development of new quality productive forces.

         In consultation with the Innovation, Technology and Industry Bureau and the Civil Aviation Department (CAD), the reply to the Hon Elizabeth Quat’s question is as follows:
         
    (1) The first batch of Regulatory Sandbox (Sandbox) pilot projects was open for application in November 2024, with the application period closing at the end of last year. The Working Group on Developing LAE (the Working Group) is reviewing the projects submitted by a total of 72 applicants. It is expected that the results will be announced in the first quarter of this year and the project work will commence thereafter. Subject to the implementation of the first batch of pilot projects, we will announce the application details of the second batch of Sandbox pilot projects in due course.

         At the same time, the Government is reviewing the existing civil aviation legislation and regulatory regimes, with the target to submit the first phase of legislative amendment proposals to the Legislative Council (LegCo) within the second quarter of this year. The proposal is to expand the regulatory scope of the existing Small Unmanned Aircraft Order (Cap. 448G) to cover unmanned aircraft weighing between 25 and 150 kilogrammes. We also plan to take this opportunity to simultaneously introduce provisions in the Air Navigation (Hong Kong) Order 1995 (Cap. 448C) to empower the Director-General of Civil Aviation to permit trial flights of Advanced Air Mobility (AAM) under specified conditions, provided that aviation safety requirements are met. I hope the legislative amendment proposals will be able to expedite the implementation of the Sandbox pilot projects in the future and, in particular, meet the expectation of the market, the industry and from Members of the LegCo during our previous discussions that Hong Kong should conduct trials of projects involving heavier loading and carriage of passengers. In the long term, we are studying the introduction of a new, dedicated legislation for various AAM weighing over 150 kg. These legislative amendment work will not only align with future technological and application developments, but will also lay a foundation for low-altitude passenger-carrying flying activities in the future and position Hong Kong to play a significant role in advancing LAE regulatory certification.
         
    (2) In addition to promoting local applications, the Government is actively exploring the feasibility of cross-boundary delivery of goods and carriage of passengers. At the same time, cross-boundary helicopter services can enhance the convenience and efficiency of travel between different cities in the Greater Bay Area (GBA), further integrating Hong Kong’s diverse economy with other cities in the region and giving full play to Hong Kong’s unique advantage as a hub for connecting with both the Mainland and the world. To this end, the Government is actively promoting interface with relevant Mainland authorities to discuss the joint development of low-altitude cross-boundary air routes, immigration and customs arrangements, and supporting infrastructure, etc.

         In November last year, led by the Deputy Financial Secretary, representatives from the Transport and Logistics Bureau, the Security Bureau, the CAD, the Immigration Department and the Hong Kong Customs visited Shenzhen to exchange views with the relevant authorities on cross-boundary flying activities. During the visit, the responsible lead units were identified, and both sides agreed to continue communication on the development of LAE. Looking ahead, the Working Group will maintain contact with the relevant authorities, with the aim to facilitate co-operation as soon as possible to create favourable conditions for establishing the GBA low-altitude cross-boundary corridor.
         
    (3) For LAE to take off, infrastructure is indispensable. Currently, a number of government departments are already utilising drone and artificial intelligence (AI) technologies in various application scenarios to enhance services. Relevant departments are also leveraging various types of data from the Common Spatial Data Infrastructure and Open Data Portal (such as maps, aerial photographs, three-dimensional geospatial data, traffic data, and weather data) to facilitate innovative applications of unmanned aircraft and the open up and sharing of related city data. Additionally, the Digital Policy Office has launched several central platform services to further support various policy bureaux and departments (B/Ds) in making good use of digital technology to optimise public services and city management. The Hon Elizabeth Quat, with the rapid technological advancement, the Government will consider the needs of different departments for innovation of public services and city management, as well as draw on domestic and international experiences to build a low-altitude smart network and explore various digital solutions that promote data interoperability, sharing and analytical applications.

         At the same time, among the Sandbox pilot projects applications we have received, there are various urban management application projects, some of which include proposals combining technologies such as AI analysis, automatic identification systems, algorithms, and high-precision positioning. We will actively take forward the first batch of Sandbox pilot projects with an aim to drive the local technology industry towards greater professionalism and standardisation, enabling LAE to “fly steadily and far,” while positioning Hong Kong as an incubation hub for LAE innovative industries.
         
         Additionally, the Government is conducting technical research on low-altitude infrastructure, including the feasibility of low-altitude surveillance and management systems, low-altitude data sharing, and the application of Geographic Information System technology and three-dimensional geospatial data. We will continue to actively take forward these issues under the leadership of the Working Group.
         
         To conclude, President, the Government will continue to promote the development of LAE in Hong Kong through various measures, including the implementation of Sandbox pilot projects, strengthening cross-boundary co-operation, and enhancing infrastructure and technical support. These efforts aim to establish an innovative, efficient, and secure LAE ecosystem for Hong Kong.

         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ22: Work safety on bamboo scaffolding

    Source: Hong Kong Government special administrative region

    LCQ22: Work safety on bamboo scaffolding
    LCQ22: Work safety on bamboo scaffolding
    ****************************************

         Following is a question by the Hon Lam Chun-sing and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (February 12): Question:      The revised Code of Practice for Bamboo Scaffolding Safety (the Code), which officially took effect on October 19 last year, aims to enhance the safety of bamboo scaffolding works. In this connection, will the Government inform this Council:(1) of the number of industrial accidents involving bamboo scaffolding works recorded by the authorities in each of the years from 2018 to October 18 last year, and since the implementation of the Code on ‍October 19 last year, together with the number of casualties involved in such accidents, and set out in Table 1 a breakdown by nature of works (i.e. (i) new works and (ii) repair, maintenance, alteration and addition works), type of works (i.e. (I) public works and (II) ‍non-‍public works) and type of cases (i.e. (a) fatal cases (the‍ number of fatalities) and (b) non-fatal cases (the number of injuries)); Table 1

    Date
    (i)
    (ii)

    (I)
    (II)
    (I)
    (II)

    (a)
    (b)
    (a)
    (b)
    (a)
    (b)
    (a)
    (b)

    2018
     
     
     
     
     
     
     
     

    ……
     
     
     
     
     
     
     
     

    From January 1 to October 18, 2024
     
     
     
     
     
     
     
     

    Since October 19, 2024
     
     
     
     
     
     
     
     

    Total
     
     
     
     
     
     
     
     

    (2) of the respective numbers of (i) workplaces inspected by the Government for bamboo scaffolding works, as well as (ii)‍ improvement notices (together with their compliance rates) and (iii) suspension notices (together with their compliance rates) issued by the Government to contractors involved in non-compliances in relation to bamboo scaffolding works, in each of the years from 2018 to ‍October 18 last year, and since the implementation of the Code on ‍October 19 last year, and set out in Table 2 a breakdown by nature of works (i.e. (a) new works and (b) repair, maintenance, alteration and addition works) and type of works (i.e. (I) public works and (II) ‍non-‍public works); Table 2

    Date
    (i)
    (ii)
    (iii)

    (I)
    (II)
    (I)
    (II)
    (I)
    (II)

    (a)
    (b)
    (a)
    (b)
    (a)
    (b)
    (a)
    (b)
    (a)
    (b)
    (a)
    (b)

    2018
     
     
     
     
     
     
     
     
     
     
     
     

    ……
     
     
     
     
     
     
     
     
     
     
     
     

    From January 1 toOctober 18, 2024
     
     
     
     
     
     
     
     
     
     
     
     

    Since October 19, 2024
     
     
     
     
     
     
     
     
     
     
     
     

    Total
     
     
     
     
     
     
     
     
     
     
     
     

     (3) in respect of the improvement notices issued by the Government as mentioned in (2)(ii), of (a) the non-compliances primarily involved and (b) the average time taken by contractors to remedy non-‍compliances or cease illegal acts, and set out in Table 3 a breakdown by nature of works (i.e. (i) new works and (ii) repair, maintenance, alteration and addition works); Table 3

    Date
    (i)
    (ii)

    (a)
    (b)
    (a)
    (b)

    2018
     
     
     
     

     
     
     
     

    ……
     
     
     
     

     
     
     
     

    From January 1 toOctober 18, 2024
     
     
     
     

     
     
     
     

    Since October 19, 2024
     
     
     
     

     
     
     
     

     (4) in respect of the suspension notices issued by the Government as mentioned in (2)(iii), of (a) the non-compliances primarily involved by contractors and (b) the average time taken for such notices getting revoked by the authorities, and set out in Table 4 a breakdown by nature of works (i.e. (i) new works and (ii) repair, maintenance, alteration and addition works); Table 4

    Date
    (i)
    (ii)

    (a)
    (b)
    (a)
    (b)

    2018
     
     
     
     

     
     
     
     

    ……
     
     
     
     

     
     
     
     

    From January 1 to October 18, 2024
     
     
     
     

     
     
     
     

    Since October 19, 2024
     
     
     
     

     
     
     
     

     (5) of the respective numbers of prosecutions instituted by the authorities and convictions for non-compliances in respect of bamboo scaffolding works involving contractors, in each of the years from 2018 to October 18 last year, and since the implementation of the Code on October 19 last year, as well as the major non-compliances involved and the average sentences imposed; (6) whether it has compiled statistics on the number of employers who, in each of the past seven years and this year to date, have failed to take out employees’ compensation insurance (commonly known as labour insurance) as required under the Employees’ Compensation Ordinance (Cap. 282) for workers involved in the industrial accidents mentioned in (1), and on the number of employers prosecuted as a result; among such prosecution cases, of the number of convicted cases and the average sentences imposed; (7) of the number of applications for taking out labour insurance received and approved by the Employees’ Compensation Insurance Residual Scheme Bureau from employers in the bamboo scaffolding industry in each of the past seven years and this year to date; what measures the Government has put in place to strengthen assistance for the construction industry in taking out labour insurance for workers engaged in bamboo scaffolding works in order to enhance the protection for these workers; (8) given that at the meeting of the Panel on Manpower of this Council on March 16, 2021, the authorities proposed amending the Construction Sites (Safety) Regulations (Cap. 59I) to include small-‍scale construction works involving higher risks (including truss-out scaffolding works) within the scope of mandatory notification to facilitate the Labour Department in arranging targeted inspections, of the latest progress and the specific timetable for the relevant legislative amendment work; and (9) how the Government will strengthen its promotion of the enhanced application of technology in the industry to enhance the occupational safety and health of frontline workers working on bamboo scaffolds?Reply: President,      The Government attaches great importance to workplace safety. Pursuant to the risk-based principle and keeping close tabs on the occupational safety and health (OSH) risk levels and trends of various industries (in particular the construction industry), the Labour Department (LD) has been formulating and adjusting the strategies of inspection and enforcement, publicity and promotion, as well as education and training in a timely manner to raise the OSH level in Hong Kong.     With the objective of enhancing scaffolding safety, the Government held a meeting on “Enhancement of Scaffolding Safety” on January 24, 2025 with relevant organisations and stakeholders. The LD is considering carefully the opinions of the trade representatives and will continue to work closely with relevant organisations and stakeholders to explore ways to enhance the safe use of scaffolds.      My reply to the Hon Lam Chun-sing is as follows:(1) The numbers of fatal cases and fatalities of industrial accidents (Note 1) involving bamboo scaffolds on construction sites from 2018 to 2025 (as at January 26) are tabulated below. These cases did not involve Public Works Projects (Note 2). 

    Year
    Industrial accidents involving bamboo scaffolds

    (i) New Works (Note 3)
    (ii) Repair, Maintenance, Alteration, and Addition Works (Note 4)

    Number of fatal cases (number of fatalities)
    Number of fatal cases (number of fatalities)

    2018
    1 (1)
    4 (4)

    2019
    3 (3)
    1 (1)

    2020
    1 (1)
    1 (1)

    2021
    –
    4 (4)

    2022
    –
    4 (4)

    2023
    –
    –

    2024 (Note 5)(January 1, 2024 – October 18, 2024)
    1 (2)
    2 (2)

    2024 (Note 5)(October 19, 2024 – December 31, 2024)
    –
    –

    2025 (Note 5)
    –
    –

    Note 1: Industrial accidents refer to injuries and deaths arising from industrial activities in industrial undertakings in Hong Kong as defined under the Factories and Industrial Undertakings Ordinance.Note 2: Public Works Projects refer to construction sites under the Architectural Services Department, Drainage Services Department, Electrical and Mechanical Services Department, Highways Department, Water Supplies Department, and Civil Engineering and Development Department.Note 3: New Works refer to construction sites where new development or re-development works take place. Such works include building, piling, demolition, site formation and civil engineering works.Note 4: Repair, Maintenance, Alteration, and Addition Works refer to minor works such as minor alterations, repairs, maintenance and interior decoration of existing buildings, term maintenance or repair contracts (such as roads, water and drainage works).Note 5: The numbers of fatal cases of industrial accidents of 2024 and 2025 are recorded as at January 26, 2025.     The LD does not keep the numbers of injury cases and injuries of industrial accidents involving bamboo scaffolds on construction sites. (2) to (5) The enforcement figures related to construction sites by the LD from 2018 to 2024 are tabulated below.(i) The number of inspections conducted and enforcement figures of new works construction sites from 2018 to 2024

     
    2018
    2019
    2020
    2021
    2022
    2023
    2024(Jan – Oct)
    2024(Nov – Dec)

    Inspections
    27 709
    35 202
    23 419
    29 525
    26 664
    26 788
    25 024
    4 781

    Prosecutions taken
    1 435
    1 453
    1 101
    1 095
    1 171
    1 494
    1 277
    272

    Improvement notices
    1 264
    1 954
    1 340
    2 433
    2 103
    2 985
    2 631
    368

    Suspension notices
    246
    124
    116
    153
    351
    131
    81
    31

    (ii) The number of inspections conducted and enforcement figures of repair, maintenance, alteration and addition works sites from 2018 to 2024

     
    2018
    2019
    2020
    2021
    2022
    2023
    2024(Jan – Oct)
    2024(Nov – Dec)

    Inspections
    42 928
    52 466
    34 616
    41 538
    38 907
    44 447
    36 965
    7 640

    Prosecutions taken
    1 077
    848
    910
    774
    838
    828
    685
    97

    Improvement notices
    835
    1 051
    762
    851
    956
    1 158
    1 018
    240

    Suspension notices
    353
    353
    204
    284
    270
    157
    132
    64

         The LD does not keep the numbers of safety inspections, enforcement figures and convictions breakdown by the bamboo scaffolding trade or works category.      The LD will assess the severity and consequences of the violation of law and take different enforcement means in accordance with the established guidelines and procedures, including the issuance of improvement notices or suspension notices to duty holders, if violation is detected during inspection of construction site.     The LD does not keep the statistics of the time required for revoking improvement notices or suspension notices. In general, the LD will take follow up actions in a timely manner in accordance with the established procedures after the notice has been issued. The notice would be revoked when the LD is satisfied that measures have been taken by the duty holders to abate the relevant risks. There is no specified timeframe for revoking a notice, which will be dependent on the attitude of the duty holders and the complexities of the actual work to abate the relevant risks. (6) Among the 22 fatal cases of industrial accidents provided in part (1), five employers were prosecuted by the LD for failing to take out the employees’ compensation insurance (EC insurance) policies at the time of the accidents. Relevant prosecution figures are tabulated below: 

    Year of accidents
    Number of summonses heard
    Number of summonses convicted
    Fine imposed

    2018
    1
    1
    $25,000

    2019
    1
    1
    $8,000

    2020
    1
    1
    $5,000 (Note)

    2021
    1
    1
    $3,000

    2022
    1
    1
    $6,000

    Note: In addition to the fine of $5,000, the employer was concurrently sentenced to 14 days’ imprisonment, suspended for 18 months.(7) The Employees’ Compensation Insurance Residual Scheme (ECIRS) serves as a market of last resort to assist employers who cannot procure EC insurance in the market, with a view to ensuring that employers can acquire EC insurance. Relevant figures pertaining to the applications by employers in scaffolding industry received and approved by the Employees’ Compensation Insurance Residual Scheme Bureau (ECIRSB) from 2018 to January 2025 are as follows: 

    Year
    Number of applications received from the employers(a)
    Number of applications approved and provided cover by ECIRSB(b)

    2018
    15
    15

    2019
    12
    12

    2020
    14
    13 (Note 1)

    2021
    15
    15

    2022
    19
    31 (Note 2)

    2023
    24
    23 (Note 1)

    2024
    25
    25

    2025(as at January)
    3
    2 (Note 3)

    Note 1: The figures in column (b) are lower than that in column (a) of the above table as the employers have either taken out EC insurance directly through ECIRS’s member insurers or they did not take out EC insurance through ECIRS eventually.Note 2: In exercise of its authority under section 35(2)(b) of the Insurance Ordinance, the Insurance Authority appointed Managers to take full control of the affairs, business and property of Target Insurance Company Limited (Target) in 2022. As a participating member of ECIRS, Target jointly underwrote the EC insurance policies issued under ECIRS. Due to Target’s inability to continue operations because of insolvency, ECIRS had to reissue the affected insurance policies to the insured in 2022, including 12 policies specific to the scaffolding industry.Note 3: One application is under processing.     The Government is deeply concerned about the procurement of EC insurance by employers in the scaffolding sector. ECIRSB has been offering premium discounts to the employers in the scaffolding sector and implemented flexible arrangements, including short-term EC insurance policies, tailored to the circumstances of the scaffolding industry. The Government will continue to maintain close communication with ECIRSB to assist employers in the scaffolding sector who have implemented enhanced occupational safety measures in qualifying for higher premium discounts, thus ensuring compliance with the requirement to procure EC insurance.(8) The LD is studying the refinement of statutory notification mechanism for construction works and its feasibility.      At the same time, to enhance the bamboo scaffolding safety, the LD updated the Code of Practice for Bamboo Scaffolding Safety last year, strengthening the regulation against truss-out bamboo scaffold (TOS). This includes requiring workers engaged in TOS works to hold valid certificates issued by the Construction Industry Council (CIC) to bolster safeguards for workers.      In addition, the LD has been actively collaborating with the scaffolding and insurance industries as well as other stakeholders in recent years to improve the occupational safety of bamboo scaffolding industry through various measures. This aims to reduce related insurance premiums, enabling employers in the bamboo scaffolding industry to take out employees’ compensation insurance at relatively reasonable prices, so as to form a virtuous cycle uplifting the overall safety standards of the industry to further lower the premium for labour insurance. (9) The Government supports the construction industry in using innovative technologies to improve site safety. The LD has been working closely with the Development Bureau (DEVB), relevant government departments and organisations to promote the industry to effectively use innovative technologies and expand their scope of application to enhance site safety.      The LD is collaborating with the DEVB to promote the implementation of the Smart Site Safety System (4S) in more construction projects to enhance monitoring and risk management of construction sites, and further improve the overall site safety standards. The LD has also actively participated in the work of the Task Force on Smart Site Safety System Standardisation set up by CIC, and will continue to keep in view the development of various advanced technology and encourage the industry to adopt appropriate technological equipment for preventing accidents.      In addition, the LD, in collaboration with the Occupational Safety and Health Council, organised the first OSH Innovation and Technology Expo in March 2024 to introduce and showcase innovative solutions, products and technologies in the field of OSH for promoting innovative developments in this area. Meanwhile, the LD will provide advice on OSH legislation for technology products developed by industries to facilitate the introduction and application of more such products.      At the meeting of “Enhancement of Scaffolding Safety” on January 24, 2025, the LD has discussed with the industry and other relevant stakeholders to explore measures from various aspects (including the application of technology) to enhance the bamboo scaffolding safety.      However, we must point out that technology is merely an auxiliary tool. It is more important to address the issue at the root by enhancing the overall OSH culture in the construction industry, as well as raising workers’ safety awareness. The Government will continue to strive for promoting OSH culture through the adoption of multi-pronged strategies, including promotion, education and training, inspections and enforcement as well as the application of technologies, to help reduce accidents.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 15:25

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PM Surya Ghar: Muft Bijli Yojana Turns One

    Source: Government of India

    PM Surya Ghar: Muft Bijli Yojana Turns One

    Powering India’s Solar Revolution

    Posted On: 12 FEB 2025 12:48PM by PIB Delhi

    Introduction

    On February 13, 2025, the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) will mark its first anniversary, celebrating a year of empowering households with affordable solar energy and accelerating India’s transition to a sustainable future. Launched by Prime Minister Narendra Modi on February 13, 2024, this groundbreaking initiative aims to provide free electricity to households by facilitating the installation of rooftop solar panels. The PMSGMBY, the world’s largest domestic rooftop solar initiative, is reshaping India’s energy landscape with a bold vision to supply solar power to one crore households by March 2027.

    As of January 27, 2025, the scheme has already benefitted 8.46 lakh households through rooftop solar installations. The rapid adoption of solar energy is evident in the tenfold increase in monthly installation rates, which now stand at around 70,000 installations per month, significantly surpassing pre-scheme levels. The scheme offers a subsidy of up to 40%, making renewable energy more affordable and accessible. So far, ₹4,308.66 crore has been disbursed as Central Financial Assistance (CFA) to 5.54 lakh residential consumers, with an average subsidy of ₹77,800 per household. Additionally, an estimated 45% of the beneficiaries are now receiving zero electricity bills, depending on their solar power generation and consumption patterns.

    Top 5 states with the highest number of households benefiting under the PM Surya Ghar: Muft Bijli Yojana.

     

    Key Benefits

    The PM Surya Ghar: Muft Bijli Yojana offers several significant benefits to participating households:

    • Free Electricity for Households: The scheme provides households with free electricity through the installation of subsidized rooftop solar panels, significantly reducing their energy costs.

     

    • Reduced Electricity Costs for the Government: By promoting the widespread use of solar power, the scheme is expected to save the government an estimated ₹75,000 crore annually in electricity costs.

     

    • Increased Use of Renewable Energy: The scheme encourages the adoption of renewable energy sources, contributing to a more sustainable and environmentally friendly energy mix in India.

     

    • Reduced Carbon Emissions: The transition to solar energy under this scheme will help lower carbon emissions, supporting India’s commitment to reducing its carbon footprint.

    Subsidy Details

    The subsidy provided under the scheme varies based on the household’s average monthly electricity consumption and the corresponding suitable rooftop solar plant capacity:

    Average Monthly Electricity Consumption (units)

    Suitable Rooftop Solar Plant Capacity

    Subsidy Support

     

    0-150

    1-2 kW

    ₹ 30,000/- to ₹ 60,000/-

    150-300

    2-3 kW

    ₹ 60,000/- to ₹ 78,000/-

    > 300

    Above 3 kW

    ₹ 78,000/-

     

    Subsidy Application and Vendor Selection: Households can apply for the subsidy through the National Portal, where they can also select a suitable vendor for installing rooftop solar. The National Portal will assist in decision-making by providing information on appropriate system sizes, a benefits calculator, vendor ratings, and other relevant details. With all credentials are entered correctly on the National Portal, the average time taken in processing the CFA is around 15 days after redemption request made by the consumer.

     

    Collateral-Free Loans: Households will have access to collateral-free, low-interest loans at around 7% interest for the installation of residential rooftop solar (RTS) systems up to 3 kW.

    Eligibility

    Application Process

    The application process involves following nine specific steps to ensure a smooth and efficient submission and approval of solar panel installation.

    Impact

    The   PM Surya Ghar: Muft Bijli Yojana is expected to have far-reaching outcomes, both for individual households and the nation as a whole:

    • Household Savings and Income Generation: Households will benefit from significant savings on their electricity bills. Additionally, they will have the opportunity to earn extra income by selling surplus power generated by their rooftop solar systems to DISCOMs. For instance, a 3-kW system can generate over 300 units per month on average, providing a reliable source of energy and potential revenue.

     

    • Expansion of Solar Capacity: The scheme is projected to add 30 GW of solar capacity through rooftop installations in the residential sector, significantly contributing to India’s renewable energy goals.

     

    • Environmental Benefits: Over the 25-year lifetime of these rooftop systems, it is estimated that the scheme will generate 1000 BUs of electricity while reducing CO2 emissions by 720 million tonnes, making a substantial positive impact on the environment.

     

    • Job Creation: The scheme is also expected to create approximately 17 lakh direct jobs across various sectors, including manufacturing, logistics, supply chain, sales, installation, operations and maintenance (O&M), and other services, thereby boosting employment and economic growth in the country.

     

    Model Solar Village

    Under the “Model Solar Village” component of the scheme, the focus is on establishing one Model Solar Village per district throughout India. This initiative aims to promote solar energy adoption and empower village communities to achieve energy self-reliance. An allocation of ₹800 crore has been designated for this component, with ₹1 crore provided to each selected Model Solar Village.

    To qualify as a candidate village, it must be a revenue village with a population of over 5,000 (or 2,000 in special category states). Villages are selected through a competitive process, evaluated on their overall distributed renewable energy (RE) capacity six months after being identified by the District Level Committee (DLC).

    The village in each district with the highest RE capacity will receive a central financial assistance grant of ₹1 crore. The State/UT Renewable Energy Development Agency, under the supervision of the DLC, will oversee the implementation, ensuring these model villages successfully transition to solar energy and set a benchmark for others across the country.

    Conclusion

    In conclusion, the PM Surya Ghar: Muft Bijli Yojana is set to significantly reshape India’s energy landscape by empowering millions of households with solar power. By March 2025, installations are expected to exceed 10 lakh, doubling to 20 lakh by October 2025, reaching 40 lakh by March 2026, and ultimately achieving the ambitious one crore target by March 2027. This transformative initiative is set to save the government ₹75,000 crores annually in electricity costs, reinforcing India’s leadership in clean energy innovation. Through substantial subsidies, accessible financing options, and a focus on renewable energy, the initiative will not only provide free electricity to households but also contribute to significant savings for the government, reduced carbon emissions, and job creation.

    The Model Solar Village initiative further supports rural areas in becoming energy self-reliant, underscoring the government’s commitment to sustainable development. This ambitious programme sets India on a path toward a greener, more energy-efficient future, reinforcing its leadership in renewable energy.

    References:

    v https://pib.gov.in/PressReleasePage.aspx?PRID=2005596

    v https://www.myscheme.gov.in/schemes/pmsgmb

    v https://www.pmsuryaghar.gov.in/whatIsNew

    v https://cdnbbsr.s3waas.gov.in/s3716e1b8c6cd17b771da77391355749f3/uploads/2024/08/2024080998431910.pdf

    v https://pib.gov.in/PressReleasePage.aspx?PRID=2080833

    v https://sansad.in/getFile/annex/266/AU945_gOv3Tm.pdf?source=pqars

    Kindly find the pdf file 

    ****

    Santosh Kumar/ Sarla Meena/ Anchal Patiyal

    (Release ID: 2102149) Visitor Counter : 38

    MIL OSI Asia Pacific News –