Category: Politics

MIL-OSI Canada: Prime Minister Justin Trudeau speaks with His Majesty King Abdullah II of Jordan

Source: Government of Canada – Prime Minister

Today, Prime Minister Justin Trudeau spoke with His Majesty King Abdullah II bin Al-Hussein of Jordan about the situation in the Middle East.

Prime Minister Trudeau and His Majesty King Abdullah II welcomed the recent ceasefire agreement between Hamas and Israel, the continued release of hostages, and the flow of humanitarian aid into Gaza.

The leaders spoke of the ongoing instability in the West Bank and, in discussing the humanitarian crisis in Gaza, the Prime Minister thanked the King for his continued leadership in improving Palestinians’ access to aid. He also highlighted Canada’s recent commitment to providing $50 million in funding for humanitarian assistance to address the acute needs of Palestinians in both Gaza and the West Bank.

The two leaders discussed the situation in Syria, following the end of the Assad regime in December. The Prime Minister welcomed Jordan’s role in providing assistance to Syria. He also emphasized Canada’s commitment to supporting the immediate delivery of humanitarian assistance in Syria and the development of a stable and inclusive government for the people of Syria. The leaders expressed their shared support for an inclusive Syrian-led political governance structure for the country.

Prime Minister Trudeau and His Majesty King Abdullah II reaffirmed the strong partnership between Canada and Jordan and agreed to remain in close contact as the situation continues to evolve.

Associated Links

MIL OSI Canada News –

February 4, 2025
MIL-OSI Canada: Prime Minister Justin Trudeau speaks with President of Lebanon Joseph Aoun

Source: Government of Canada – Prime Minister

Today, Prime Minister Justin Trudeau spoke with the President of Lebanon, Joseph Aoun, about the ongoing situation in the Middle East.

Prime Minister Trudeau congratulated President Aoun on his recent election, noting it is a moment of hope and opportunity for Lebanon and its people. The two leaders discussed the importance of respecting the ceasefire along Lebanon’s southern border and of supporting the Lebanese Armed Forces.

The leaders underscored that the people of Lebanon deserve to live in peace and security. Prime Minister Trudeau reiterated that Canada will always stand with the Lebanese people.

The Prime Minister and the President highlighted the close co-operation and the strong people-to-people ties between Canada and Lebanon. They agreed that their shared values and priorities will carry forward this relationship in the years to come.

Associated Links

MIL OSI Canada News –

February 4, 2025
MIL-OSI USA: NEA President: America’s students would pay the price for Trump’s latest gift to billionaires

Source: US National Education Union

By: Eric Jotkoff

Published: January 31, 2025

National Education Association President Becky Pringle released the following statement reacting to Donald Trump’s expected Executive Order pushing to end the Department of Education – his latest extreme action that hurts our students and public schools:

“Most of us believe every student deserves opportunity, resources, and support to reach their full potential no matter where they live, the color of their skin, or how much their family earns.

“Congress created the Department of Education, and only Congress has the power to end it. And the vast majority of Congress – including 60 House Republicans – rejected gutting public education last session, knowing it would only hurt students and is deeply unpopular with parents and educators.

“Students across the country benefit from programs run by the Department of Education, especially lower-income students in rural, suburban, and urban communities, students who qualify for federal grants or loans to receive career training or attend 2- and 4-year colleges, and students with disabilities.

“If it became a reality, Trump’s power grab would steal resources for our most vulnerable students, explode class sizes, cut job training programs, make higher education more expensive and out of reach for middle class families, take away special education services for students with disabilities, and gut student civil rights protections. Americans did not vote for, and do not support, ending the federal government’s commitment to ensuring equal educational opportunities for every child.

“This comes just days after an Executive Order designed to drain resources from our public schools through vouchers. The intent is clear: starve our public schools of the resources our students need and funnel these resources to discriminatory and unaccountable private schools or tax cuts for billionaires who funded his campaign.

“90% of American students and 95% of students with disabilities learn in our public schools. Eliminating the Department of Education is equivalent to giving up on our future. Strong public schools are essential to strong communities. Our students need more opportunities, more resources, and greater protections, not less.

“Educators won’t be silent as anti-public education politicians try to steal opportunities from our students, our families, and our communities across America. Together with parents and allies, we will continue to organize, advocate, and mobilize so that all students have well-resourced schools that allow every student to grow into their full brilliance.”

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The National Education Association is the nation’s largest professional employee organization, representing more than 3 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators, students preparing to become teachers, healthcare workers, and public employees. Learn more at www.nea.org

MIL OSI USA News –

February 4, 2025
MIL-OSI Security: Memphis Man Sentenced for Stealing 166 Firearms and for Possession of a “Switch”

Source: Office of United States Attorneys

Memphis, TN – Kaderion Stokes, 19, was recently sentenced to federal prison for theft of firearms and possession of a machinegun. Reagan Fondren, Acting United States Attorney for the Western District of Tennessee, announced the sentence today.

According to the information presented in court, on September 9, 2023, approximately 166 firearms were stolen from a Federal Firearms Licensee (FFL) business in Atoka, Tennessee. An Atoka Police officer was patrolling the area when he observed a GMC Sierra pick-up truck in the parking lot of the business. As the officer approached the truck, the truck fled at a high rate of speed. Officers discovered that the truck was stolen and had rammed the front of the business crashing into the interior of the store. Several items were taken from the store, including firearms. Stokes was later developed as a suspect. In October 2023, Stokes was arrested by local law enforcement in Memphis on unrelated charges while in possession of two of the stolen firearms from the FFL business.

After a federal grand jury returned an indictment against Stokes, a federal arrest warrant was issued and the United States Marshals Service arrested Stokes at an apartment in Memphis. Stokes was found in possession of a firearm with a machinegun conversion device or a “switch.” Subsequently, the grand jury returned a superseding indictment charging Stokes for possessing the “switch” as well as charges associated with the theft of firearms.

On October 31, 2024, Stokes pled guilty in federal court and on January 29, 2025, Senior United States District Court Judge Jon P. McCalla sentenced Stokes to 87 months of federal imprisonment to be followed by three years of supervised release. There is no parole in the federal system.

The case was investigated by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) and the Atoka Police Department. The United States Marshals Service and the Memphis Police Department assisted.

Acting U.S. Attorney Reagan Fondren thanked Assistant United States Attorneys Marques Young and Eileen Kuo, along with Special Assistant United States Attorney Raven Icaza, who prosecuted this case on behalf of the government, as well as the law enforcement partners who investigated it.

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For more information, please contact the Media Relations Team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.

MIL Security OSI –

February 4, 2025
MIL-OSI Canada: Prime Minister Justin Trudeau speaks with Amir of Qatar His Highness Sheikh Tamim Bin Hamad Al Thani

Source: Government of Canada – Prime Minister

Today, Prime Minister Justin Trudeau spoke with the Amir of Qatar, His Highness Sheikh Tamim Bin Hamad Al Thani.

Prime Minister Trudeau welcomed the announcement last month regarding a ceasefire and hostage release agreement between Israel and Hamas, which Qatar took a leading role in negotiating. He thanked the Amir for Qatar’s leadership in mediating this deal and for its efforts toward facilitating a path toward peace and stability in the region. The Prime Minister also took the opportunity to thank the Amir on behalf of Canada for Qatar’s critical work in negotiating for the safe release of Mr. David Lavery from Afghanistan.

The leaders discussed areas of common interest and the strong bilateral relations between Canada and Qatar. They underscored the importance of working together to advance dialogue and peace across the Middle East, particularly considering the ongoing developments in Lebanon, Gaza, and Syria.

Prime Minister Trudeau highlighted Canada’s latest efforts in the region, including the recently announced $50 million in humanitarian assistance for Syria. The leaders discussed the Amir’s visit to Syria last week and the urgent humanitarian and development work required, noting their shared support for an inclusive Syrian-led political governance structure.

The leaders reflected on the excellent bilateral relationship between Canada and Qatar and agreed to remain in contact.

Associated Links

MIL OSI Canada News –

February 4, 2025
MIL-OSI USA: AG Brown, 11 state attorneys general warn federal employees about misleading buyout offer

Source: Washington State News

OLYMPIA — Attorney General Nick Brown today joined a coalition of 12 state attorneys general warning federal employees about President Donald Trump’s misleading “deferred resignation” program, which purports to offer federal employees pay through Sept. 30 if they resign by Feb. 6.

“I urge federal employees from Washington state, or those working in our state, to contact their union if they are curious about this so-called buyout offer,” Brown said. “When I was a U.S. attorney, I saw firsthand the important and needed public services that federal employees provide. These shameless attacks on our federal workforce by a lawless president must stop.”

On Jan. 28, the Office of Personnel Management (OPM) sent an email to millions of federal employees detailing a new deferred resignation program. Employees were told that if they accept the offer and resign, they would continue receiving all pay and benefits, and be exempt from in-person work requirements until Sept. 30. OPM sent another email to federal employees reiterating the offer and urging them to find “higher productivity” jobs outside of government. The OPM emails instructed employees that they have until Feb. 6 to decide to remain in their position or resign under the deferred resignation program, and warned that those who did not resign were not guaranteed to keep their jobs.

Immediately following OPM’s email, unions representing federal employees warned their members against accepting the offer. The American Federation of Government Employees, the largest federal employees union, released information for its members warning them that employees who accepted the offer were not guaranteed its benefits. The National Federation of Federal Employees similarly warned its members against accepting the offer.

Joining Brown in strongly recommending caution to federal employees are the attorneys general of Arizona, California, Connecticut, Delaware, Hawaii, Maryland, Michigan, Minnesota, New Jersey, New York and Vermont.

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Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

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MIL OSI USA News –

February 4, 2025
MIL-OSI USA: SBA Relief Still Available to Missouri Private Nonprofits Affected by November Storms and Tornadoes

Source: United States Small Business Administration

WASHINGTON – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Missouri of the March 3, 2025 deadline to apply for low interest federal disaster loans to offset physical damage caused by severe storms, tornadoes, straight‑line winds and flooding that occurred Nov. 3-9, 2024.

The disaster declaration covers the counties of Carter, Crawford, Dent, Douglas, Howell, Oregon, Ozark, Phelps, Pulaski, Reynolds, Shannon, Texas, Washington and Wright.

Under this disaster declaration, PNPs that provide services of a governmental nature are eligible to apply for business physical disaster loans. Eligible PNPs may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 

Applicants may also be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future damage caused by any disaster. 

Interest rates can be as low 3.625%, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

PNPs are also eligible to apply for Economic Injury Disaster Loans (EIDLs) to help meet working capital needs. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. EIDL assistance is available regardless of whether the PNP suffered any physical property damage. 

The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

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

The deadline to return applications for physical property damage is March 3. The deadline to return economic injury applications is Oct. 1.

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About the U.S. Small Business Administration

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

MIL OSI USA News –

February 4, 2025
MIL-OSI USA: SBA Relief Still Available to Oregon Private Nonprofits Affected by Summer Wildfires

Source: United States Small Business Administration

WASHINGTON – The U.S. Small Business Administration (SBA) is reminding private nonprofit (PNP) organizations in Oregon of the March 3, 2025 deadline to apply for low interest federal disaster loans to offset physical damage caused by wildfires that occurred July 10-Aug.23, 2024.

The disaster declaration covers the counties of Gilliam, Grant, Umatilla, Wasco and Wheeler.

Under this disaster declaration, PNPs that provide services of a governmental nature are eligible to apply for business physical disaster loans. Eligible PNPs may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future damage caused by any disaster.  

Interest rates can be as low 3.25%, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

PNPs are also eligible to apply for Economic Injury Disaster Loans (EIDLs) to help meet working capital needs. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. EIDL assistance is available regardless of whether the PNP suffered any physical property damage. 

The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible. 

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

The deadline to return applications for physical property damage is March 3. to return economic injury applications is Oct. 1.

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About the U.S. Small Business Administration

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

MIL OSI USA News –

February 4, 2025
MIL-OSI USA: SBA Relief Still Available to Nebraska Private Nonprofits Affected by April Storms

Source: United States Small Business Administration

WASHINGTON – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Nebraska of the March 3, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight‑line winds and tornadoes that occurred April 25-27, 2024.

The disaster declaration covers the counties of Boone, Douglas, Greeley, Howard, Sherman and Washington.

Under this declaration, PNPs that provide services of a governmental nature and suffered financial losses related to the disaster are eligible to apply for Economic Injury Disaster Loans (EIDL). EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

Interest rates can be as low as 3.25% with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

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

The deadline to return economic injury applications is March 3.

###

About the U.S. Small Business Administration

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

MIL OSI USA News –

February 4, 2025
MIL-OSI USA: SBA Relief Still Available to Arkansas Small Businesses and Private Nonprofits Affected by May Storms

Source: United States Small Business Administration

WASHINGTON – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Arkansas of the March 3, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight‑line winds, tornadoes and flooding that occurred May 24-27, 2024.

The disaster declaration covers the counties of Baxter, Benton, Boone, Carroll, Clay, Craighead, Crawford, Franklin, Fulton, Greene, Izard, Johnson, Lawrence, Madison, Marion, Newton, Randolph, Searcy, Sharp, Stone and Washington in Arkansas as well as the counties of Barry, Dunklin, Howell, McDonald, Oregon, Ozark, Ripley and Taney in Missouri and Adair and Delaware counties in Oklahoma.

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

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

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

The deadline to return economic injury applications is March 3.

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About the U.S. Small Business Administration

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

MIL OSI USA News –

February 4, 2025
MIL-OSI Global: U.S. tariff threat: How it will impact different products and industries

Source: The Conversation – Canada – By Sylvanus Kwaku Afesorgbor, Associate Professor of Agri-Food Trade and Policy, University of Guelph

U.S. President Donald Trump has agreed to pause his planned tariffs on Canada and Mexico for at least 30 days following talks with the leaders of both countries. Previously, a senior Canadian governmental official had said Trump’s 25 per cent tariff on most Canadian goods was expected to come into effect on Feb. 4.

If implemented, this tariff will have significant economic consequences on both sides of the border, as the U.S. and Canada share one of the largest bilateral trade relationships in the world.

A key concern is the highly integrated supply chains between the two countries. Many goods cross the border multiple times as intermediate inputs before becoming final products. Imposing tariffs at any point in this supply chain will raise production costs and increase prices for a wide range of goods traded between the U.S. and Canada.

For Canada, the tariffs on Canadian products will significantly affect Canada’s competitiveness in the U.S. market by driving up prices. Such tariffs could pose serious challenges for various sectors in Canada, given the country’s heavy reliance on the U.S. economy.

Effects on different sectors

The impact of U.S. tariffs on Canadian prices is likely to differ across sectors and products, depending on their reliance on the U.S. market.

Sectors with a higher dependence on U.S. trade are likely to experience more severe disruptions. If the tariffs make certain products uncompetitive, Canadian producers may struggle to secure alternative markets in the short term.

Industries such as agriculture, manufacturing and energy will experience varying degrees of impact. Energy products and motor vehicles, which represent Canada’s largest exports to the U.S., are expected to be among the most adversely affected.

In the agricultural and forestry sector, wood and paper products, along with cereals, are among Canada’s largest exports to the U.S., with the U.S. accounting for 86 to 96 per cent of these exports, according to data from the World Integrated Trade Solution.

In the energy and mineral sector, crude oil is Canada’s top export, reaching US$143 billion in 2023, with 90 per cent destined for the U.S. Given its critical role as Canada’s largest export across all sectors, it is not surprising that Trump has noted crude oil would be subject to a lower tariff of 10 per cent.

Canada’s dependence on U.S. trade

When examining the impact on different products, it’s not only the value of trade that matters, but also the share of trade. The share of trade indicates how reliant Canada is on the U.S. compared to other markets.

A high trade share with the U.S. suggests a product is particularly vulnerable to trade disruptions, as Canada depends heavily on the U.S. market for that product. Conversely, a lower share indicates that Canada has diversified suppliers, which reduces its dependence on the U.S.

Read more:
Trump’s tariff threat could shake North American trade relations and upend agri-food trade

For instance, in 2023, Canada’s top exports to the U.S. included vehicles and parts, nuclear machinery and plastics, according to data from the World Integrated Trade Solution. The U.S. accounted for 93 per cent of vehicle and parts exports, 82 per cent of nuclear machinery exports, and 91 per cent of plastics exports.

This data highlights Canada’s extreme dependence on the U.S. market, making these industries within the manufacturing sector highly susceptible to the tariff. This could harm jobs in the manufacturing sector, which is vital to employment in Canada, providing jobs for over 1.8 million people.

Canada’s reliance on the U.S. is also evident in imports. In 2023, vehicle imports totalled US$92 billion, with the U.S. accounting for 58 per cent of that amount.

The dependence is also evident in the agri-food and forestry sector, where Canada heavily relies on U.S. imports. This suggests that retaliatory tariffs on agricultural goods from the U.S. could have a substantial impact on food prices in Canada.

Retaliatory tariffs and inflationary pressures

Canada has announced it’s imposing $155 billion of retaliatory tariffs on U.S. imports in response. This could contribute to inflationary pressures within Canada.

Prime Minister Justin Trudeau says this includes immediate tariffs on $30 billion worth of goods as of Tuesday, followed by further tariffs on $125 billion worth of American products in 21 days’ time to “allow Canadian companies and supply chains to seek to find alternatives.”

This will include tariffs on “everyday items such as American beer, wine and bourbon, fruits and fruit juices, including orange juice, along with vegetables, perfume, clothing and shoes,” and also on major consumer products like household appliances, furniture and sports equipment, and materials like lumber and plastics.

Given Canada’s significant dependence on U.S. imports, the retaliatory tariffs will raise the cost of American goods entering the country, further driving up consumer prices and exacerbating inflation.

In its latest policy rate announcement, the Bank of Canada warned of the severe economic consequences of Trump’s tariffs, highlighting their potential to reverse the current downward trend in inflation.

What should Canada do now?

Canada must extend its economic diplomacy efforts beyond the Trump administration, engaging with the U.S. Congress and Senate to advocate for the reconsideration of tariffs on Canadian goods. The Canadian government should persist in leveraging this channel to push for a reversal of the tariffs. This kind of broader negotiation remains the most effective approach to mitigating trade tensions and ensuring stable economic relations with the U.S.

At the same time, Canada must reduce dependence on the U.S. market by adopting a comprehensive export diversification strategy. While the U.S. remains a convenient and accessible trade partner, expanding into emerging and developing markets would help mitigate risks and create more stable long-term trade opportunities.

Read more:
Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.

One effective way to achieve export diversification is by expanding free trade agreements (FTAs) with emerging and developing economies. Currently, Canada has 15 FTAs covering about 51 countries, but there is room for expansion. However, signing FTAs alone is insufficient; Canada must ensure these agreements translate into tangible trade growth with partner countries.

International politics is increasingly shaping global trade, making it imperative for Canada to proactively manage diplomatic and trade relations. In recent years, tensions have emerged with key partners such as China, India and Saudi Arabia. These countries could all become potential markets for Canadian products. Given that China is Canada’s second-largest export destination, there is significant potential to expand trade ties.

Additionally, countries like the United Arab Emirates present promising markets, particularly for agricultural products, as the UAE imports about 90 per cent of its food.

Boosting innovation and productivity

Canada stands at a critical juncture in its trade relationship with the U.S. While diplomatic efforts remain essential to averting harmful tariffs, they cannot be the country’s only line of defence.

Boosting productivity is one of the most effective ways for Canada to improve its competitiveness in global markets. Canadian producers should prioritize innovation and the adoption of advanced technologies to enhance efficiency and maintain a competitive edge, particularly as they seek to expand beyond the U.S.

In response to potential U.S. tariffs, the Canadian government should implement a bailout strategy to provide short-term relief and mitigate revenue losses to firms that will be mostly affected. Additionally, Canada should leverage its embassies and consulates worldwide to promote exports and help affected firms identify and access new market opportunities.

By doing this, Canada can position itself as a more self-reliant and competitive player in the global economy — one less vulnerable to shifting U.S. policies.

Sylvanus Kwaku Afesorgbor receives funding from the OMAFRA and the USDA. He is affiliated with the Centre for Trade Analysis and Development (CeTAD Africa).

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

– ref. U.S. tariff threat: How it will impact different products and industries – https://theconversation.com/u-s-tariff-threat-how-it-will-impact-different-products-and-industries-248824

MIL OSI – Global Reports –

February 4, 2025
MIL-OSI Global: Trump’s tariff threats show the brute power of an imperial presidency

Source: The Conversation – Canada – By Daniel Drache, Professor Emeritus, Department of Politics, York University, Canada

United States President Donald Trump has agreed to delay punishing tariffs on all exports from Canada and Mexico, which resulted in a threat of retaliatory tariffs from Canada.

Nonetheless, Canada’s closest ally is all but tearing up the Canada-U.S.-Mexico trade deal negotiated only seven years ago. The rationale behind what the Wall Street Journal editorial board has called “the dumbest trade war in history” isn’t even clear.

The pessimistic view is that if Canada doesn’t give Trump everything he wants, he will bulldoze the country with more tariffs, sanctions on banks, enhanced border inspections and even a travel ban — everything he recently threatened to do to Colombia.

Canada’s political class is scrambling because the U.S. has long been a cultural sibling and an economic partner. But now it is toxic, threatening and untrustworthy. Will Canada sign another trade deal with Trump in office? The chances recede the longer the tariffs remain in place.

Iron-fisted

It’s never been more clear that Trump is obsessive, seldom a bluffer and always iron-fisted. He seems to have planned and executed this tariff bomb to cause maximum pain and chaos. Now he says the European Union is next on his list.

Trump is counting on his new majorities in U.S. Congress to ram through his radical right populist agenda, forcing other countries to play a role in his melodrama.

In response to Trump’s charge that the U.S. subsidizes Canadian trade, former Conservative prime minister Stephen Harper pointed out that half of America’s imported oil comes from Canada, and its price is significantly discounted due to a lack of pipeline capacity. “It’s actually Canada that subsidizes the United States in this regard,” Harper said.

Nevertheless, Trump’s preferred foreign policy tactic is to hit first with economic sanctions and negotiate later. With his near total grip on U.S. government, he can now achieve all his aims through tariffs.

Read more:
U.S. tariff threat: How it will impact different products and industries

The imperial presidency

Trump’s vision for his imperial presidency is organized around an old idea: the revenue tariff. Before income taxes, border tariffs were the primary source of income for government. But back then, government did a lot less.

For example, America’s 19th-century navy of wooden sailing ships was purchased with tariffs. But it would be impossible to fund modern-day health care, student loans and $13 billion aircraft carriers with tariff revenues.

A recent study by the Peterson Institute for International Economics shows the math doesn’t add up. Tariffs are levied on imported goods and are worth about US$3 trillion. American income tax is levied on incomes and are worth more than US$20 trillion. Government would have to be much smaller, and tariffs would have to be so high they would choke American trade, for tariffs to make economic sense.

And yet Trump has a broad mandate. In the summer of 2024, the U.S. Supreme Court ruled in Trump v. United States that presidents require a broadly defined “presumptive immunity from prosecution for … official acts.”

This decision has given Trump the legal clout to force the entire federal government to answer to the president himself.

Read more:
US Supreme Court immunity ruling ideal for a president who doesn’t care about democracy

War against democracy

Trump is using his vast new mandate to wage multiple wars simultaneously. These wars against the guardrails of liberal democracy require the punishment of his enemies inside his own party.

Read more:
Canada should be preparing for the end of American democracy

Republicans who have voted against Trump legislation during his first term faced high-profile challenges in the primaries as he funded their opponents. Today, the war is waged against those who are insufficiently loyal, including the highest ranks of the Coast Guard and the FBI.

The war against the administrative state involves the mass firing of independent inspectors, federal lawyers and thousands of civil servants to be replaced by foot soldiers personally loyal to the leader.

The Trump administration has sent out “deferred resignation” notices that invite the entire civil service to resign. This is the tactic Trump’s key adviser, Elon Musk, implemented at X, and it suggests a wave of firings will soon begin.

Nonsensical trade war

The trade war against Canada and Mexico is peculiar because neither country has expressed any willingness to abolish the United States-Mexico-Canada Agreement, which is among the achievements of Trump’s first administration.

Nevertheless, the paranoid Trump seems to be convinced that he got a raw deal in 2018, and so he wants to scrap the whole treaty and negotiate something tougher that brings more jobs home.

In 2024, the cars that were ranked most “American” in terms of their content and final assembly were made by Tesla, Honda and Volkswagen. By comparison, the best-selling the Dodge Ram 1500 pickup truck ranked No. 43 on the list. What Trump considers American and non-American isn’t clear, even to voters.

A new Bank of Canada forecast predicts that American tariffs may reduce Canadian GDP by six per cent. The federal government is planning an enormous bailout package to compensate for widespread job losses like the one offered to businesses and individuals during the pandemic.

Unsurprisingly, Trump divides Canada’s leadership. Alberta and Saskatchewan have publicly criticized the Team Canada approach. Alberta Premier Danielle Smith refused to sign the joint federal/provincial statement and played to her secessionist base.

Read more:
Why Alberta’s Danielle Smith is rejecting the Team Canada approach to Trump’s tariff threats

Even so, former Alberta premier Jason Kenney recognizes the peril, arguing that Alberta needs to “be prepared to retaliate … we can’t be wusses about this; we have to have a spine.”

What’s next?

Canada is an export-led economy based on natural resources. Its strength lies not in refusing to buy California wine or Florida orange juice. Its main sources of leverage are oil and gas, potash and uranium, rare earth minerals, timber products and hydroelectric power. But of all these, oil, uranium, and hydro-electric power are Canada’s biggest guns.

It’s not yet clear how effective the Canadian government’s strategy will be. Previous rounds of retaliation after the steel and aluminum tariffs in Trump’s first term did not drive him to the negotiating table. It’s also unclear what the CEOs of Canada’s branch-plant multinational corporations will do when their loyalties are divided between Trump and Canada.

Furthermore, it’s anyone’s guess how much the dissent of western Canadian premiers has hurt Canada’s case with Trump. Certainly, his preferred tactic is to divide and conquer.

Finally, it’s unclear if Ontario Premier Doug Ford’s “Captain Canada” approach will earn the respect or disdain of Republicans — although, ultimately, it doesn’t matter what the rest of the American political class thinks because Trump and his inner circle are calling all the shots.

In practical terms, there is little Canada can do to address the false accusations that it’s complicit in the illicit drug trade and in migrants crossing the border into the U.S. Facts don’t matter to Trump. He will eventually come up with a demand, and if Canada doesn’t give in, he will ramp up the economic pain.

Welcome to the post-liberal world order.

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

– ref. Trump’s tariff threats show the brute power of an imperial presidency – https://theconversation.com/trumps-tariff-threats-show-the-brute-power-of-an-imperial-presidency-247524

MIL OSI – Global Reports –

February 4, 2025
MIL-OSI USA News: American Heart Month, 2025

Source: The White House

Every day, untold numbers of our friends, relatives, neighbors, and coworkers are affected by the devastating affliction of heart disease. As the Nation’s leading cause of death, cardiovascular disease has stolen infinite lives, crushed countless families, and imposed unimaginable heartbreak upon Americans of every walk of life. This American Heart Month, we mourn and pray for those we have lost and recommit ourselves to ending the deadly plight of heart disease once and for all.

Thanks to advancements in medicine, science, and technology, our Nation has made tremendous strides in combatting heart disease — and the American people are now better equipped than ever before to receive lifesaving treatments, respond to medical complications, and modify behavior and habits to ensure they can lead long and healthy lives.

But even one soul lost to heart disease is a tragedy beyond comprehension. To that end, my Administration will work diligently to save lives, lower healthcare costs, and foster a stronger, safer, and healthier future for every citizen. For as long as I am President, I will always be an unwavering advocate for improving the health of every American.

The first step in confronting the cardiac disease crisis is taking concrete action to lower the odds of diagnosis — and encouraging those in our lives to take all necessary measures to root out unhealthy habits. Research has consistently shown that risk factors contributing to heart disease include obesity, high blood pressure and cholesterol, lack of exercise, excessive alcohol use, and smoking. Making small adjustments to our health and routines can yield extraordinary and even life-saving results. My Administration is also steadfastly committed to cracking down on Big Pharma and ending the chronic disease epidemic. And we will fulfill our pledge to investigate what has caused the decades-long increase in health problems and childhood diseases — including obesity, autoimmune disorders, infertility, and autism. As Americans, we owe it to ourselves and our families to take care of our bodies — and to cherish God’s gift of life for as long and as vigorously as we can.

As we enter into this American Heart Month, let us seek to improve our health, lengthen our lives, and nurture a culture, a government, and a Nation that upholds the dignity of life and protects the human heart.

In acknowledgement of the importance of the ongoing fight against cardiovascular disease, the Congress, by Joint Resolution approved on December 30, 1963, as amended (36 U.S.C. 101), has requested that the President issue an annual proclamation designating February as American Heart Month.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, do hereby proclaim February 2025 as American Heart Month, and I invite all Americans to participate in National Wear Red Day on February 7, 2025. I also invite the Governors of the States, the Commonwealth of Puerto Rico, officials of other areas subject to the jurisdiction of the United States, and the American people to join my Administration in recognizing and restating our pledge to fighting heart disease in all its forms.

IN WITNESS WHEREOF, I have hereunto set my hand this
third day of February, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.

THE WHITE HOUSE,
February 3, 2025.

MIL OSI USA News –

February 4, 2025
MIL-OSI New Zealand: Most Aucklanders continue to rate their quality of life highly
Source: Auckland Council

Auckland’s topline results for the 2024 Rangahau te Korou o te Ora / Quality of Life Survey have been released, showing 75 per cent of Aucklanders rate their overall quality of life positively.

The survey, which is undertaken every two years, is a collaborative local government research project that collects data on a range of current and topical issues relevant to residents’ wellbeing in urban New Zealand.

Auckland’s Policy and Planning Committee chair, Councillor Richard Hills says he is pleased to see from the latest survey results that most Aucklanders have a strong sense of connection and support in their daily lives.

“The results show in part, that the work council does with Auckland communities makes a difference and can help people to thrive. These results are helpful in shaping how we plan for the future to improve economic, social and environmental outcomes,” Cr Hills says.

“Although the results show there is always more work to do, it is fantastic to see that 72 per cent of Aucklanders think their local area is a great place to live. Auckland is a wonderful place, and we can be proud of where we call home.”

Although reports of quality of life remain relatively high, there has been a decrease since 2022, when 82 per cent of Auckland respondents rated their quality of life positively.

When asked to rate their quality of life compared with one year prior, 25 per cent said it had increased and 30 per cent said it had decreased.

Reasons for a decline in perceptions of quality of life were largely driven by economic pressures, says Alison Reid, Team Manager, Social and Economic Research and Evaluation.

“Of those Aucklanders who said their quality of life had decreased, more than two-thirds (67 per cent) said this was due to reduced financial wellbeing,” she says.

Other findings reflected economic pressures on Aucklanders. Almost half (49 per cent) of those surveyed disagreed that their housing costs were affordable, one in five (22 per cent) said they did not have enough money to meet their everyday needs, and more than a third (37 per cent) said they often worried about their own or their family’s financial circumstances.

Crime is another key concern raised in the survey, with many Auckland respondents rating theft and burglary (67 per cent), dangerous driving (64 per cent) and vandalism (58 per cent) as problems in their local area in the previous 12 months.

It’s not all bad news though, says Alison. “One in four Aucklanders said their quality of life had increased in the last year. Of that group nearly a third (32 per cent) reported that this was related to their health care and wellbeing. Improved financial wellbeing (26 per cent), lifestyle (23 per cent) and work-related factors (23 per cent) also featured.”

Sixty-eight per cent of Auckland respondents rated both their physical and mental health positively. Most feel they have people in their lives they can call on if they need practical or emotional support (86 per cent and 85 per cent, respectively).

Most Aucklanders (72 per cent) also agreed that their local area is a great place to live, and more than half (57 per cent) agreed that they are happy with the way their local area looks and feels.

The results will be used by the council to help plan for the future and to monitor economic, social and environmental outcomes, such as outlined in the Auckland Plan 2050 and Ngā Hapori Momoho, our Thriving Communities Strategy.

Read the full Topline Report on the Quality of Life website.

About the survey
- The Quality of Life survey is a collaborative local government research project. Several councils participated in this year’s survey including Auckland Council, Hamilton, Tauranga, Porirua, Wellington, Christchurch and Dunedin City Councils, as well as Waikato Regional Council.
Most Auckland respondents feel they have people in their lives they can call on if they need practical or emotional support.

MIL OSI New Zealand News –
February 4, 2025
MIL-OSI United Nations: World News in Brief: WHO chief asks US to reconsider withdrawal, gender parity remains distant goal, call for rethink on Nordic alcohol law change

Source: United Nations 4

3 February 2025 Health

The head of the World Health Organization (WHO) said on Monday he would “welcome constructive dialogue” with the United States Government over the decision made by President Donald Trump to withdraw.

President Trump’s executive order of 20 January is regrettable “and we hope the US will reconsider,” said WHO Director-General Tedros Adhanom Ghebreyesus, in a speech to the organization’s executive board.

The WHO chief said he would welcome the opportunity “to preserve and strengthen the historic relationship between WHO and the US.”

Pushing back on the rationale laid out in the executive order, Tedros said WHO had implemented the deepest and most wide-ranging reforms in its history over the past seven years.

The US is the biggest donor by far to the agency, accounting for around 14 per cent of its $6.9 billion budget, according to latest WHO figures.

Addressing the US complaint that it is paying too much compared to other countries, Tedros said reducing reliance on the US and others who pay the most was a “critical element of our long-term plan to broaden our donor base.”

COVID record

Third, he rejected the accusation that WHO had mishandled the COVID-19 pandemic:

“From the moment we picked up the first signals of ‘viral pneumonia’ in Wuhan, we asked for more information, activated our emergency incident management system, alerted the world, convened global experts, and published comprehensive guidance for countries on how to protect their populations and health systems – all before the first death from this new disease was reported in China on the 11th of January 2020.”

Tedros also addressed the allegation that WHO lacks independence from “inappropriate political influence” by some Member States: “WHO is impartial and exists to serve all countries and all people,” he said.

“Our Member States ask us for many things, and we always try to help as much as we can. But when what they ask is not supported by scientific evidence or is contrary to our mission to support global health, we say no, politely.”

© UNICEF/Joshua Estey

A government-run shelter in the Philippines is a safe haven for girls who have been physically and sexually abused and exploited, including through the sex tourism industry. (file)

A third of women experience physical or sexual violence: Rights experts

Approximately one in three women is subjected to physical or sexual violence, and 800 women and girls continue to die every day from preventable causes during pregnancy and childbirth, a top independent rights panel meeting heard on Monday.

Addressing the Committee on the Elimination of Discrimination Against Women (CEDAW) at the UN in Geneva, Andrea Ori from the UN human rights office, OHCHR, said that the world is “still far” from achieving the goal of gender parity.

“The global landscape has changed,” she told the CEDAW session.

Backlash against equal rights

“We are witnessing a backlash against women’s human rights and gender equality, especially against women’s sexual and reproductive health rights – with an increase in attacks against abortion providers, shrinking civic space for women human rights defenders, and reduced funding.”

Mr. Ori noted that 2025 marks 30 years since the universal adoption of the Beijing Declaration and Platform for Action for ensuring women’s human rights and achieving gender equality around the world.

It remains the case, however, that sexual violence against women and girls continues to be used as a tactic of war in numerous conflicts, the UN human rights official said, while only 26 per cent of parliamentarians in the world are women and only around three in 10 women have managerial roles at work. 

One less for the road: Time Europe cut down on booze intake, WHO warns

The UN World Health Organization (WHO) urged Nordic countries on Monday to keep a lid on alcohol sales, or risk reversing the positive impact of strict regulations put in place years ago.

For decades, governments in Finland, Iceland, Norway, Sweden and the Faroe Islands have restricted supermarkets and private retailers from selling stronger alcoholic beverages.

This policy has resulted in some of the lowest alcohol consumption levels in the European Union – which by contrast is the booziest region globally, with drinking habits “largely unchanged” for over 10 years, WHO said.

Free market pressures

The Nordic model is now at risk however, from legislative initiatives in the region that signal a potential shift toward privatization of alcohol sales, warned WHO’s Dr. Carina Ferreira-Borges.

In Sweden, for instance, a court is hearing a challenge to the Government’s exclusive rights to online sales of alcohol, while proposed laws would permit sales of alcoholic beverages in farm shops.

Dr Ferreira-Borges explained that Nordic countries’ alcohol controls – that involve increasing taxes and raising prices, limiting availability and restricting advertising – have reduced alcohol-related harms.

These span from “liver disease, cancers and cardiovascular conditions, to injuries and drownings”, she insisted.

MIL OSI United Nations News –

February 4, 2025
MIL-OSI United Nations: Syria: Special Envoy applauds ‘shared conviction’ among Syrians on political transition

Source: United Nations 4

By Vibhu Mishra

3 February 2025 Peace and Security

The UN Special Envoy for Syria said on Monday that Syrians across the political spectrum share a deep conviction that the country’s political transition must succeed.

Geir Pedersen stressed that protection for all Syrian minorities and a fully inclusive process is essential to shaping its future.

The top envoy has spent several weeks in Syria, engaging with the caretaker authorities and a broad spectrum of society, following the overthrow of the Assad regime in early December.

“[He] was deeply struck by the shared conviction among all the Syrians he met that the success of Syria’s political transition is essential, and it cannot afford to fail,” said a statement issued by his office.

“At the cornerstone of this, as he consistently heard from all Syrians he met, is the need for all Syrians to be genuinely protected, and for all Syrians to be fully included in shaping the future,” it added.

Diverse range of meetings

During his visit, Mr. Pedersen held multiple meetings with caretaker Foreign Minister Asaad al-Shibani, following earlier talks with caretaker leader Ahmed al-Sharaa on 20 January. Mr. al-Sharaa, a former leader of Hayat Tahrir al-Sham (HTS), was named the country’s transitional president last week.

The Special Envoy welcomed assurances given by the caretaker leadership – both publicly and in direct discussions – that the all Syrians will have a stake in the future State and that it will be built on inclusive and credible foundations.

“In this regard, he sensed a genuine convergence between the expectations of Syrians, commitments of the caretaker authorities, and key principles of Security Council resolution 2254,” the statement said.

Adopted in December 2015, resolution 2254 outlines a roadmap for a Syrian-led political transition, including constitutional reforms, and free and fair elections under UN supervision.

He met leaders from civil society, different religious faiths, and NGOs, expressing gratitude to all those who shared their different perspectives.

Continuing engagement

Mr. Pedersen said he appreciated the commitment he received of close cooperation and consultation with the United Nations on all steps of a Syrian-led and Syrian-owned transition.

According to the statement, he is looking forward to working positively with caretaker authorities and following developments on the ground. He will continue to update the Secretary-General and the Security Council.

MIL OSI United Nations News –

February 4, 2025
MIL-OSI New Zealand: 4 February 2025 Kāinga Ora refocusing on its core mission Kāinga Ora – Homes and Communities is refocusing on its core mission of providing and managing quality social housing for New Zealanders in need.
Source: New Zealand Government Kainga Ora
Simon Moutter, Board Chair

“Our focus as a key contributor to New Zealand’s social housing eco-system is on providing safe, warm, dry homes for those in need and acting as a good, supportive landlord to tenants and communities, while ensuring the agency’s long-term financial sustainability,’’ says Board Chair Simon Moutter.

“Kāinga Ora is the largest social housing landlord in the country, and it is important we look after our homes and tenants and serve our communities well. We are looking forward to working alongside other Community Housing Providers to ensure that New Zealanders in need get stable and supportive housing.

“Our new plan for Kainga Ora, which the government has approved, outlines a clear path forward for the agency as a responsible social housing landlord who is fair but firm, and invests in the state housing stock in a financially sustainable way,’’ Mr Moutter says.

Over the two years to 30 June 2026, Kāinga Ora will be adding 2,650 new homes to the state housing stock, as well as renewing almost 3,000 homes.

“Because of New Zealand’s long history of providing social housing, many of our state homes are old and getting to their end of their life. It is important that we invest in renewing these homes so we can continue the legacy of providing good quality state housing,’’ Mr Moutter says.

The key elements of the new plan for Kāinga Ora are:
- A renewed focus on core mission: Over time, Kāinga Ora will narrow its focus on providing and managing social housing in a financially sustainable way.
- Improved tenancy management: Changes are being made to tenancy management and more use is being made of the Residential Tenancies Act to ensure better outcomes for both tenants and communities. A key part of this will be ensuring tenants are in the right type of home at the right time, with the right support in place.
- Improved housing portfolio and build management: We are changing our maintenance strategies to ensure we look after our homes, while also investing in the progressive renewal of our older homes. Build costs will be reduced so they are more in line with the market.
- Improved organisational performance, with a focus on cost effectiveness: Changes are being made to right-size the organisation and ensure value for money.
- Improved financial sustainability: As key cost-saving initiatives are embedded, Kāinga Ora’s financial sustainability will significantly improve.
Find out more about the plan for Kāinga Ora.
Page updated: 4 February 2025

MIL OSI New Zealand News –
February 4, 2025
MIL-OSI Australia: Don’t clear native vegetation if you want high crop yields

Source: University of South Australia

04 February 2025

South Australian ecologists have provided irrevocable proof why native vegetation is critical for healthy crop yields and should be protected in agricultural regions.

In the first study of its kind in South Australia, UniSA scientists evaluated the impact of native roadside (linear) vegetation and small, isolated patches of (fragment) vegetation on pollination rates and crop yields for canola and faba beans in the Yorke Peninsula.

Canola and faba bean pods within 200 metres of native vegetation – where pollinating insects live – produced more seeds and subsequently higher yields than those unpollinated by animals.

UniSA ecologist Associate Professor Sophie (Topa) Petit says the increase in seed set near vegetation, compared to the centre of a field, was up to 20% higher for canola and 12% higher for faba beans. The larger patches of vegetation produced the best results.

According to first author, PhD student Bianca Amato, “the results are significant, given the study area has been extensively cleared for agriculture over time, containing less than 13% of native vegetation, and roadside vegetation is often the only habitat for pollinating insects in that region.”

“The findings confirm that both fragment and roadside vegetation improve pollination and crop yields. Roadside vegetation plays a strong role but is often threatened by clearance,” Amato says.

“Pollinators are essential for sustainable farming, although their habitat is often overlooked in intensive agriculture. Preserving roadside vegetation and remnant patches could provide a simple way to support both biodiversity and crop production.”

The research, recently published in Agriculture, Ecosystems & Environment, challenges the common practice of clearing native vegetation to expand cropping areas, suggesting that such actions may inadvertently reduce long-term productivity

In the wake of the findings, the UniSA researchers are calling on governments to offer farmers incentives to restore native vegetation, not only to boost crop yields, but also to conserve biodiversity.

“Strips of trees and bushes lining fields and roads are a familiar part of the Australian landscape. Some people assume this vegetation has little value apart from picturesque scenery, but our research shows just how important native vegetation is in supporting pollinators and increasing crop yields,” Amato says.

Notes for editors

“Influence of fragment and roadside vegetation on canola (Brassica napus) and faba bean (Vicia faba) pollination in South Australia” is published in Agriculture, Ecosystems & Environment.
DOI: 10.1016/j.agee.2025.109481

…………………………………………………………………………………………………………………………

Media contact: Candy Gibson M: +61 434 605 142 E: candy.gibson@unisa.edu.au
Researcher contact: Bianca Amato E: bianca.amato@mymail.unisa.edu.au

Other articles you may be interested in

MIL OSI News –

February 4, 2025
MIL-OSI Security: Illegal Alien Indicted on Voter Fraud and Gun Charges

Source: Office of United States Attorneys

MIAMI – Carlos Jose Abreu, 45, an illegal alien living in Broward County, Florida, appeared in federal court today to face charges of impersonating a United States citizen when registering to vote and when voting in a federal election. Abreu is also charged with unlawfully possessing a firearm.

Abreu was previously indicted for passport application fraud and aggravated identity theft (case no: 24-cr-60155). On January 8, 2025, Abreu pled guilty to the passport fraud allegations.

According to allegations in the charging documents and statements made during court proceedings: Abreu is a national of the Dominican Republic who entered the United States illegally about 20 years ago and has lived in the country unlawfully since then. In 2007, the state of New Jersey issued an arrest warrant for Abreu on charges of kidnapping, sexual assault, endangering a child, and criminal restraint. Abreu moved to Florida, assumed the identity of a real person (a United States citizen) and used it to obtain a Florida driver license and apply for a passport. Abreu has been living in the United States under the assumed identity of the American citizen victim for about 18 years.

According to the recently returned indictment (case no. 25-cr-60015), Abreu also used the assumed identity of the American citizen victim to register to vote in September 2020, and to vote in the November 2022 federal midterm elections. It is also alleged that Abreu illegally possessed a firearm. It is a federal crime for an illegal alien to possess a firearm in the United States. If convicted on the voter fraud and gun charges, Abreu faces up to 15 years in federal prison. He also is subject to deportation.

U.S. Attorney Hayden O’Byrne for the Southern District of Florida and Acting Special Agent in Charge Michael Conklin of the U.S. Department of State’s Diplomatic Security Service (DSS) Miami Field Office made the announcement.

The DSS Miami Field Office investigated the case. Assistant United States Attorney Brianna Coakley is prosecuting it.

An indictment is merely an accusation, and a defendant is presumed innocent unless and until proven guilty.

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov.

###

MIL Security OSI –

February 4, 2025
MIL-OSI USA: Murphy At USAID: Trump And Musk Are Shuttering Agencies To Turn Government Over To Billionaires

US Senate News:

Source: United States Senator for Connecticut – Chris Murphy

February 03, 2025

WASHINGTON— U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Foreign Relations Committee, on Monday joined a press conference in front of the shuttered United States Agency for International Development (USAID) to raise the alarm about how President Trump’s decision – at the behest of Elon Musk – to illegally shut down the agency will have disastrous impacts on national security while strengthening China and Russia.

Murphy highlighted USAID’s crucial role in global security and support for democracy: “USAID fights terrorist groups all across this world making sure that we address the underlying causes that lead to terrorism. USAID chases China all around the world, making sure China doesn’t monopolize contracts for critical minerals and port infrastructure all around the world. It supports freedom fighters everywhere in this world, up until yesterday, delivering firewood, for instance, to the brave Ukrainian defenders on the eastern front.”

Murphy called out Trump’s closure of USAID as a play by Elon Musk and the billionaire class to hijack U.S. foreign policy for profit: “Elon Musk makes billions of dollars based off of his business with China. And China is cheering at this action today. There is no question that the billionaire class trying to take over our government right now is doing it based on self-interest–their belief that if they can make us weaker in the world, if they can elevate their business partners all around the world, that they will gain the benefit.”

Murphy continued: “They are shuttering agencies and sending employees home in order to create the illusion that they are saving money in order to do what? Pass a giant tax cut for billionaires and corporations, right? This is all a smokescreen, a shell game, in order to turn this government over to a handful of unelected billionaires and corporate interests, and we are not going to let them do that.”

Murphy concluded: “So we will use every power that we have in our disposal in the United States Senate. My colleagues will do the same thing in the House. This is a constitutional crisis that we are in today. Let’s call it what it is. The people get to decide how we defend the United States of America. The people get to decide how their taxpayer money is spent. Elon Musk does not get to decide. We are weaker today than we were yesterday. China sees that, Russia sees that, and they will take advantage. Our job, and your job together, is to raise our voices, raise the alarm, so that this crisis, this emboldening of our enemies, doesn’t last a second longer than it has to.”

A full transcript of his remarks can be found below:

MURPHY: “So, Elon Musk has been floating all sorts of awful, terrible conspiracy theories about what happens at USAID. Let’s make it very clear that every single day America is safer because of what happens at USAID.

“USAID fights terrorist groups all across this world making sure that we address the underlying causes that lead to terrorism. USAID chases China all around the world, making sure China doesn’t monopolize contracts for critical minerals and port infrastructure all around the world. It supports freedom fighters everywhere in this world, up until yesterday, delivering firewood, for instance, to the brave Ukrainian defenders on the eastern front.

“But let’s not pull any punches about why this is happening. Elon Musk makes billions of dollars based off of his business with China. And China is cheering at this action today. There is no question that the billionaire class trying to take over our government right now is doing it based on self-interest–their belief that if they can make us weaker in the world, if they can elevate their business partners all around the world, that they will gain the benefit.

“But there is another reason this is happening. They are shuttering agencies and sending employees home in order to create the illusion that they are saving money in order to do what? Pass a giant tax cut for billionaires and corporations, right? This is all a smokescreen, a shell game, in order to turn this government over to a handful of unelected billionaires and corporate interests, and we are not going to let them do that.

“So we will use every power that we have in our disposal in the United States Senate. My colleagues will do the same thing in the House. This is a constitutional crisis that we are in today. Let’s call it what it is. The people get to decide how we defend the United States of America. The people get to decide how their taxpayer money is spent. Elon Musk does not get to decide.

“We are weaker today than we were yesterday. China sees that, Russia sees that, and they will take advantage. Our job, and your job together, is to raise our voices, raise the alarm, so that this crisis, this emboldening of our enemies, doesn’t last a second longer than it has to. Thank you everybody for being here today. Really, really important.”

MIL OSI USA News –

February 4, 2025
MIL-OSI USA: Shaheen Speaks with New Hampshire Nonprofits to Hear Concerns about Impact of Trump’s Federal Funding Cuts to Services They Provide Granite Staters

US Senate News:

Source: United States Senator for New Hampshire Jeanne Shaheen

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), a top member of the U.S. Senate Appropriations Committee, spoke with representatives from New Hampshire nonprofits about the impacts the Trump administration’s order to stop federal grants and loans have on the key services they provide to children, students, seniors, veterans, people with disabilities and small businesses across the Granite State. Representatives from Easterseals New Hampshire, Families in Transition, the New Hampshire Community Development Finance Authority (CDFA), Waypoint, the NH Center for Nonprofits, Granite United Way and other organizations attended the meeting.

“Because of the White House’s confusing, far-reaching order to stop federal grants and loans, New Hampshire nonprofits and community organizations are concerned that they won’t be able to provide their vital, often life-saving services to Granite Staters,” said Shaheen. “As we work to get answers about who and what will be affected, I was thankful to hear from many of our great partners on the ground.”

On Wednesday night, Shaheen spoke on the Senate floor to condemn the Trump administration’s order to take away federal grants and loans that families, seniors and small businesses in all 50 states rely on for critical, often life-saving services. Shaheen illustrated the chaos caused by the extreme order by sharing the stories of many Granite Staters she has heard from in the past two days.

On Monday, the Trump administration’s Office of Management and Budget (OMB) announced a sweeping executive order pausing almost all forms of federal assistance to states, nonprofits, non-governmental organizations and more. Senator Shaheen immediately condemned the move and emphasized the impact it will have on communities. The full list that agencies were directed to review encompasses over 2,600 assistance programs, including Supplemental Nutrition Assistance (SNAP), Women, Infants and Children (WIC), community health centers, the Community Development Block Grant (CDBG), transportation and highway funding, energy assistance programs, water infrastructure funding, State Opioid Targeted Response grants, GI Bill, veteran compensation for service connected disabilities, Section 8 vouchers, school breakfast and lunch, Title I education grants, Temporary Assistance for Needy Families (TANF) and Head Start.

MIL OSI USA News –

February 4, 2025
MIL-OSI USA: Durbin, Castro Introduce Bill To Curb Firearms Trafficking From The United States To Mexican Drug Cartels
US Senate News:
Source: United States Senator for Illinois Dick Durbin

February 03, 2025

The Stop Arming Cartels Act would stem the “iron river” of firearms trafficking enabled by weak American gun laws

WASHINGTON – Today, U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, and U.S. Representative Joaquin Castro (D-TX-20), Ranking Member of the House Foreign Affairs Subcommittee on the Western Hemisphere, led the bicameral introduction of the Stop Arming Cartels Act. The legislation is introduced as an estimated 200,000 to 500,000 American-made guns are trafficked into Mexico annually, largely attributable to unlicensed gun dealers, straw purchasers, and thefts from federal firearms licensees (FFLs).

The bill would seek to stem this “iron river” of firearms trafficking from the United States to Mexico, enabled by weak American gun laws and dangerous gun industry practices. The deadly stream of firearms trafficking exacerbates violence, enables cartels who smuggle migrants to our southern border, and facilitates the illicit trade of narcotics, including fentanyl, across the border back into the United States. According to a 2021 study from the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), 70 percent of crime guns recovered in Mexico from 2014-2018 and submitted for tracing were U.S.-sourced.

“Our country’s lax gun laws have created a deadly, vicious cycle of firearms trafficking that’s riddled with violence and chaos, resulting in a consistent transfer of fentanyl across our border. Our gun laws and gun industry practices fuel an iron river of firearms trafficking that supplies Mexican drug cartels and other criminal elements in the region, and it’s time to cut off the iron river at its source. With the Stop Arming Cartels Act, we can disarm cartels and help prevent the violence, drug trafficking, and irregular migration associated with cartel power and violence at home and abroad,” said Durbin.

“For years, Republicans have taken an increasingly brutal approach to immigration while refusing to address the role that U.S. guns play in fueling the violence and instability that force families to flee from their homes. When I meet with leaders in Latin America and the Caribbean, their number one request is for the United States to stop the gun trafficking that originates within our borders. In Mexico, in particular, high-caliber weapons smuggled from the United States have allowed cartels to shoot down police helicopters, attack military convoys, and undercut public faith in law and order. The Stop Arming Cartels Act will make important progress to stem the deadly flow of guns from the United States and build stability across the globe. I appreciate Senator Durbin’s leadership on this issue in the Senate, and I hope that our Republican colleagues will join us as we work to pass this lifesaving bill into law,” said Castro.

Specifically, the Stop Arming Cartels Act would:
- Prohibit future nongovernmental manufacture, importation, sale, transfer, or possession of .50 caliber rifles;
- Regulate existing .50 caliber rifles under the National Firearms Act, with a fee waiver and 12-month grace period for registration on the National Firearms Registration and Transfer Record for those who lawfully possess them under current law;
- Create an exception to the Protection of Lawful Commerce in Arms Act (PLCAA), allowing victims of gun violence to sue manufacturers and dealers who engage in firearm transactions prohibited under the Foreign Narcotics Kingpin Designation Act (the “Kingpin Act”);
- Prohibit the sale or transfer of firearms to individuals sanctioned under the Kingpin Act and add Kingpin Act designations to the National Instant Criminal Background Check System (NICS); and
- Require firearms dealers to report multiple sales of rifles to state and local law enforcement agencies, as they must currently do for handguns.
The bill is co-sponsored by U.S. Senators Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Cory Booker (D-NJ), Mark Kelly (D-AZ), Tim Kaine (D-VA), Andy Kim (D-NJ), Ruben Gallego (D-AZ), Chris Murphy (D-CT), Jack Reed (D-RI), and Ron Wyden (D-OR).

The bill is endorsed by Brady United Against Gun Violence, Everytown for Gun Safety, GIFFORDS, March for Our Lives, Global Exchange, Global Action on Gun Violence, Amnesty International, and People’s Movement for Peace and Justice.

The introduction of the Stop Arming Cartels Act continues Durbin’s efforts to strengthen American gun laws and combat firearms trafficking from the United States abroad. In June 2022, the Senate passed and President Biden signed into law the Bipartisan Safer Communities Act, the most significant gun violence prevention reform in nearly three decades. Among its many provisions, the law creates federal firearm straw purchasing and trafficking criminal offenses.

In March 2022, the Senate passed the government funding bill that reauthorized the Violence Against Women Act, including provisions from the NICS Denial Notification Act. These provisions require federal law enforcement to promptly notify state law enforcement within hours when a person fails a gun background check.

In 2019, Durbin urged the Government Accountability Office (GAO) to update its reports on efforts to combat firearms trafficking from the United States to Mexico, Belize, and Guatemala and expand the report to include El Salvador and Honduras. The report revealed that 40 percent of firearms recovered in those countries and submitted for tracing from 2015-2019 came from the United States. Based on the immense value of that report, Durbinjoined colleagues in 2023 to successfully press GAO to expand the study further to include the Caribbean.

Bill text is available here. A one-page summary of the bill is available here.

-30-
MIL OSI USA News –
February 4, 2025

MIL-OSI: RBB Bancorp Reports Fourth Quarter and Fiscal Year 2024 Earnings

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, Feb. 03, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter and fiscal year ended December 31, 2024.

Fourth Quarter 2024 Highlights

Net income totaled $4.4 million, or $0.25 diluted earnings per share
Return on average assets of 0.44%, compared to 0.72% for the quarter ended September 30, 2024
Net interest margin of 2.76% compared to 2.68% for the quarter ended September 30, 2024
Book value and tangible book value per share⁽¹⁾ of $28.66 and $24.51 at December 31, 2024, compared to $28.81 and $24.64 at September 30, 2024

The Company reported net income of $4.4 million, or $0.25 diluted earnings per share, for the quarter ended December 31, 2024, compared to net income of $7.0 million, or $0.39 diluted earnings per share, for the quarter ended September 30, 2024. Net income for the year ended December 31, 2024 totaled $26.7 million, or $1.47 diluted earnings per share, compared to net income of $42.5 million, or $2.24 diluted earnings per share, for the year ended December 31, 2023.

“Declining funding costs and stable interest income drove net interest income and net interest margin higher in the fourth quarter,” said Johnny Lee, President of the Company and President and Chief Executive Officer of the Bank. “We continue to make good progress on our growth initiatives and expect we will resume loan growth in the first quarter and for the remainder of the year. We did see an increase in nonperforming loans mainly due to one credit relationship that was downgraded late in the fourth quarter. We are actively working to resolve our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

“We are saddened by the devastation caused by the recent fires in Los Angeles,” said David Morris, Chief Executive Officer of the Company. “We stand ready to support our community and neighbors as they begin the process of rebuilding.”

(1)	Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Net Interest Income and Net Interest Margin

Net interest income was $26.0 million for the fourth quarter of 2024, compared to $24.5 million for the third quarter of 2024. The $1.4 million increase was due to a $130,000 increase in interest income and a $1.3 million decrease in interest expense. The increase in interest income was mostly due to higher interest income on cash and investment securities of $1.1 million offset by lower interest income on total loans of $952,000. The decrease in loan interest income was mostly due to lower average loans of $9.8 million and a 10 basis point decrease in the average loan yield due to decreases in market rates and a change in the loan mix. The increase in cash and investment interest income was attributed to higher average balances and a higher investment portfolio yield, offset by a lower yield on cash. The decrease in interest expense was mostly due to a 33 basis point decrease in total average interest-bearing deposit rates offset by higher average interest-bearing deposits of $33.8 million in the fourth quarter of 2024.

Net interest margin (“NIM”) was 2.76% for the fourth quarter of 2024, an increase of 8 basis points from 2.68% for the third quarter of 2024. The increase was due to a 25 basis point decrease in the overall cost of funds, partially offset by a 15 basis point decrease in the yield on average interest-earning assets. The yield on average interest-earning assets decreased to 5.79% for the fourth quarter of 2024 from 5.94% for the third quarter of 2024 due mainly to a 55 basis point decrease in the yield on average cash and cash equivalents to 5.02%, a decrease in the loan yield of 10 basis points and the impact of a change in the mix of average-earnings assets. Average loans represented 82% of average interest-earning assets in the fourth quarter of 2024, a 2% decrease from the third quarter of 2024. The decrease in the loan yield was attributed mostly to a decrease in market rates and a change in the loan mix.

The overall cost of funds decreased to 3.32% in the fourth quarter of 2024 from 3.57% in the third quarter of 2024 due to a lower average cost of interest-bearing deposits. The overall funding mix for the fourth quarter of 2024 remained relatively unchanged from the third quarter of 2024 with the ratio of average noninterest-bearing deposits to average total funding sources of 16%. The all-in average spot rate for total deposits was 3.15% at December 31, 2024.

Net interest income was $99.4 million for the year ended December 31, 2024, compared to $119.3 million for the year ended December 31, 2023. The $19.9 million decrease was due to a $15.4 million increase in interest expense and a $4.5 million decrease in interest income. The decrease in interest income was mostly due to lower interest income on total loans of $9.7 million offset by higher interest income on interest-earning deposits of $4.7 million. The decrease in loan interest income was mostly due to lower average loans of $164.3 million. The increase in cash and investment interest income was attributed to higher average cash balances and a higher investment portfolio yield, offset by a lower average of investment securities. The increase in interest expense was mostly due to a 72 basis point increase in total average interest-bearing deposit rates and higher average interest-bearing deposits of $30.1 million in the year ended December 31, 2024.

NIM was 2.70% for the year ended December 31, 2024, a decrease of 46 basis points from 3.16% for the year ended December 31, 2023. The decrease was due to a 55 basis point increase in the overall cost of funds, partially offset by a 2 basis point increase in the yield on average interest-earning assets. The yield on average interest-earning assets increased to 5.88% for the year ended December 31, 2024 compared to the prior year due mainly to a 12 basis point increase in the yield on average cash and cash equivalents to 5.53%, an 18 basis point increase in the investment portfolio yield, offset by the impact of lower average loan balances. Average loans represented 83% of average interest-earning assets during 2024, and 85% during 2023.

The overall cost of funds increased to 3.49% in the year ended December 31, 2024 from 2.94% in the year ended December 31, 2023 due to a higher average cost of interest-bearing deposits in response to higher average market interest rates. The overall funding mix for December 31, 2024 remained relatively unchanged from the prior year with a ratio of average noninterest-bearing deposits to average total funding sources of 16%.

Provision for Credit Losses

The provision for credit losses was $6.0 million for the fourth quarter of 2024 compared to $3.3 million for the third quarter of 2024. The fourth quarter of 2024 provision for credit losses was due to an increase in specific reserves of $4.3 million and net charge-offs of $2.0 million, partially offset by lower general reserves. The fourth quarter increase in specific reserves included $4.5 million for a construction loan secured by a partially completed mixed-use commercial project. Fourth quarter net charge-offs included $1.8 million for nonaccrual loans that were moved to held for sale (“HFS”). Net charge-offs on an annualized basis represented 0.26% of average loans for the fourth quarter of 2024 compared to 0.16% for the third quarter of 2024. The fourth quarter provision also took into consideration factors such as changes in loan balances, the loan portfolio mix, the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including higher nonperforming loans, and changes in special mention and substandard loans during the period.

The provision for credit losses was $9.9 million for the year ended December 31, 2024 compared to $3.4 million for the year ended December 31, 2023. The 2024 provision included the impact from an increase in specific reserves of $6.1 million and net charge-offs of $3.9 million. Net charge-offs totaled $3.9 million for the year ended December 31, 2024, compared to $3.1 million for the year ended December 31, 2023. Net charge-offs represented 0.13% of average loans for the fiscal year 2024 compared to 0.10% for the fiscal year 2023.

Noninterest Income

Noninterest income for the fourth quarter of 2024 was $2.7 million, a decrease of $3.0 million from $5.7 million for the third quarter of 2024. This decrease was mostly due to the third quarter of 2024 including a $2.8 million recovery of a fully charged off loan acquired in a bank acquisition.

Noninterest income for the year ended December 31, 2024 was $15.3 million, an increase of $317,000 from $15.0 million for the year ended December 31, 2023. This increase was mostly due to a $2.9 million increase in recoveries on purchased loans, a $1.2 million increase in gain on sale of loans and an $883,000 increase in gain on OREO, offset by income from a $5.0 million Community Development Financial Institution Equitable Recovery Program award that was recognized during 2023.

Noninterest Expense

Noninterest expense for the fourth quarter of 2024 was $17.6 million, an increase of $228,000 from $17.4 million for the third quarter of 2024. This increase was mostly due to higher legal and professional expenses of $397,000, partially offset by lower occupancy and equipment expenses of $115,000. The annualized noninterest expenses to average assets ratio was 1.76% for the fourth quarter of 2024, down from 1.78% for the third quarter of 2024. The efficiency ratio was 61.5% for the fourth quarter of 2024, up from 57.5% for the third quarter of 2024 due mostly to lower noninterest income as the third quarter included a $2.8 million recovery of a fully charged off loan acquired in a bank acquisition.

Noninterest expense for the year ended December 31, 2024 was $69.2 million, a decrease of $1.5 million from $70.7 million for the year ended December 31, 2023. This decrease was mostly due to lower legal and professional expenses of $3.7 million, partially offset by higher salaries and employee benefits of $1.6 million. The noninterest expenses to average assets ratio was 1.76% for the fiscal year 2024 and 2023. The efficiency ratio was 60.3% for the year ended December 31, 2024, up from 52.6% for the year ended December 31, 2023 due mostly to lower net interest income for 2024.

Income Taxes

The effective tax rate was 13.3% for the fourth quarter of 2024 and 26.9% for the third quarter of 2024. The decrease in the effective tax rate for the fourth quarter was due primarily to higher tax credits relative to pre-tax net income as compared to the prior quarter.

The effective tax rate was 25.3% for the year ended December 31, 2024 and 29.5% for the year ended December 31, 2023. The decrease in the effective tax rate for 2024 was due primarily to higher tax credits as compared to the prior year.

Balance Sheet

At December 31, 2024, total assets were $4.0 billion, a $2.0 million increase compared to September 30, 2024, and a $33.5 million decrease compared to December 31, 2023.

Loan and Securities Portfolio

Loans held for investment (“HFI”) totaled $3.1 billion as of December 31, 2024, a decrease of $38.7 million compared to September 30, 2024 and a $21.4 million increase compared to December 31, 2023. The decrease from September 30, 2024 was primarily due to a $51.3 million decrease in commercial real estate (“CRE”) loans, a $6.9 million decrease in construction and land development (“C&D”) loans and an $826,000 decrease in Small Business Administration (“SBA”) loans, partially offset by a $20.6 million increase in single-family residential (“SFR”) mortgages and a $724,000 increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 97.5% at December 31, 2024, compared to 98.6% at September 30, 2024 and 94.2% at December 31, 2023.

As of December 31, 2024, available-for-sale securities totaled $420.2 million, an increase of $114.5 million from September 30, 2024, primarily related to the purchase of $79.2 million in short-term commercial paper. As of December 31, 2024, net unrealized losses totaled $29.2 million, a $6.0 million increase due mostly to increases in treasury rates, when compared to net unrealized losses of $23.2 million as of September 30, 2024.

Deposits

Total deposits were $3.1 billion as of December 31, 2024, an $8.4 million decrease compared to September 30, 2024 and a $91.0 million decrease compared to December 31, 2023. The decrease during the fourth quarter of 2024 was due to a $27.8 million decrease in interest-bearing deposits, while noninterest-bearing deposits increased $19.4 million to $563.0 million as of December 31, 2024 compared to $543.6 million as of September 30, 2024. The decrease in interest-bearing deposits included a decrease in time deposits of $24.7 million and non-maturity deposits of $3.1 million. Wholesale deposits remained relatively unchanged at $147.5 million at December 31, 2024 compared to $147.3 million at September 30, 2024. Noninterest-bearing deposits represented 18.3% of total deposits at December 31, 2024 compared to 17.6% at September 30, 2024.

Credit Quality

Nonperforming assets totaled $81.0 million, or 2.03% of total assets, at December 31, 2024, compared to $60.7 million, or 1.52% of total assets, at September 30, 2024. The $20.4 million increase in nonperforming assets was due to the addition of one $26.4 million C&D loan, $2.0 million in SFR loans and $890,000 in SBA loans that migrated to nonaccrual status during the fourth quarter of 2024, partially offset by payoffs and paydowns of $6.7 million and partial charge-offs of $2.0 million.

Nonperforming assets at December 31, 2024 include loans HFS with a total fair value of $11.2 million, which were transferred from HFI during the fourth quarter of 2024 after a $1.8 million charge-off against the allowance for credit losses. These loans were reported as nonperforming loans at September 30, 2024.

Special mention loans totaled $65.3 million, or 2.14% of total loans, at December 31, 2024, compared to $77.5 million, or 2.51% of total loans, at September 30, 2024. The $12.2 million decrease was primarily due to CRE loans totaling $11.8 million that were upgraded to pass-rated and $1.8 million in payoffs and paydowns, offset by CRE loans totaling $1.4 million downgraded during the fourth quarter of 2024. All special mention loans are paying current.

Substandard loans totaled $100.3 million, of which $11.2 million were HFS at December 31, 2024, compared to $79.8 million at September 30, 2024. This $20.5 million increase was primarily due to downgrades of one $26.4 million C&D loan, SFR loans totaling $2.0 million, C&I loans totaling $1.9 million and SBA loans totaling $747,000. These downgrades were offset by payoffs and paydowns totaling $6.5 million, upgrades totaling $2.0 million and partial charge-offs totaling $2.0 million. Of the total substandard loans at December 31, 2024, there are $19.3 million on accrual status, including an $11.7 million C&D loan that was in the process of renewal and also included in the 30-89 day delinquent category below.

30-89 day delinquent loans, excluding nonperforming loans, totaled $22.1 million at December 31, 2024, compared to $10.6 million at September 30, 2024. The $11.5 million increase was mostly due to one $11.7 million C&D loan in process of renewal for a completed multifamily project at December 31, 2024, and since year end, it has been brought current and paid down by $1.5 million. Other changes in delinquent loans included additions totaling $5.5 million, offset by $3.2 million that returned to current status, $1.8 million that migrated to nonaccrual status and $735,000 in payoffs.

As of December 31, 2024, the allowance for credit losses totaled $48.5 million and was comprised of an allowance for loan losses of $47.7 million and a reserve for unfunded commitments of $729,000 (included in “Accrued interest and other liabilities”). This compares to the allowance for credit losses of $44.5 million comprised of an allowance for loan losses of $43.7 million and a reserve for unfunded commitments of $779,000 at September 30, 2024. The $4.0 million increase in the allowance for credit losses for the fourth quarter of 2024 was due to a $6.0 million provision for credit losses offset by net charge-offs of $2.0 million. The increase in charge-offs in the fourth quarter of 2024 was primarily due to a decrease in the estimated fair value of collateral dependent loans and loans moved to HFS. The allowance for loan losses as a percentage of loans HFI increased to 1.56% at December 31, 2024, compared to 1.41% at September 30, 2024, due to an increase in specific reserves on one C&D loan mentioned previously. The allowance for loan losses as a percentage of nonperforming loans HFI was 68% at December 31, 2024, a decrease from 72% at September 30, 2024.


	For the Three Months Ended December 31, 2024									For the Year Ended December 31, 2024
*(dollars in thousands)*	Allowance for loan losses			Reserve for unfunded loan commitments			Allowance for credit losses			Allowance for loan losses			Reserve for unfunded loan commitments		Allowance for credit losses
Beginning balance	$	43,685		$	779		$	44,464		$	41,903		$	640	$	42,543
Provision for (reversal of) credit losses		6,050			(50	)		6,000			9,768			89		9,857
Less loans charged-off		(2,092	)		—			(2,092	)		(4,083	)		—		(4,083	)
Recoveries on loans charged-off		86			—			86			141			—		141
Ending balance	$	47,729		$	729		$	48,458		$	47,729		$	729	$	48,458

Shareholders’ Equity

At December 31, 2024, total shareholders’ equity was $507.9 million, a $1.9 million decrease compared to September 30, 2024, and a $3.4 million decrease compared to December 31, 2023. The decrease in shareholders’ equity for the fourth quarter of 2024 was due to higher net unrealized losses on available-for-sale securities of $4.2 million and common stock cash dividends paid of $2.9 million, offset by net income of $4.4 million, and equity compensation activity of $794,000. The decrease in shareholders’ equity for the year ended 2024 was due to common stock repurchases of $20.7 million, common stock cash dividends paid of $11.7 million and higher net unrealized losses on available-for-sale securities of $744,000, offset by net income of $26.7 million, and equity compensation activity of $3.1 million. Book value per share and tangible book value per share⁽¹⁾ decreased to $28.66 and $24.51 at December 31, 2024, down from $28.81 and $24.64 at September 30, 2024 and up from $27.47 and $23.48 at December 31, 2023.

Contact:
Lynn Hopkins, Chief Financial Officer
(213) 716-8066
lhopkins@rbbusa.com

(1)		Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Corporate Overview

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of December 31, 2024, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

Conference Call

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, February 4, 2025, to discuss the Company’s fourth quarter 2024 financial results.

To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 834092, conference ID RBBQ424. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 51830, approximately one hour after the conclusion of the call and will remain available through February 5, 2025.

The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

Disclosure

This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; our ability to attract and retain deposits and access other sources of liquidity; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system; the impact of future or recent changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including Accounting Standards Update 2016-13 (Topic 326, “Measurement of Current Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses Model, which changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; market disruption and volatility; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuances of preferred stock; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2023, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.


RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands)

	December 31,			September 30,			June 30,			March 31,			December 31,
	2024			2024			2024			2024			2023
Assets
Cash and due from banks	$	27,747		$	26,388		$	23,313		$	21,887		$	22,671
Interest-earning deposits with financial institutions		229,998			323,002			229,456			247,356			408,702
Cash and cash equivalents		257,745			349,390			252,769			269,243			431,373
Interest-earning time deposits with financial institutions		600			600			600			600			600
Investment securities available for sale		420,190			305,666			325,582			335,194			318,961
Investment securities held to maturity		5,191			5,195			5,200			5,204			5,209
Loans held for sale		11,250			812			3,146			3,903			1,911
Loans held for investment		3,053,230			3,091,896			3,047,712			3,027,361			3,031,861
Allowance for loan losses		(47,729	)		(43,685	)		(41,741	)		(41,688	)		(41,903	)
Net loans held for investment		3,005,501			3,048,211			3,005,971			2,985,673			2,989,958
Premises and equipment, net		24,601			24,839			25,049			25,363			25,684
Federal Home Loan Bank (FHLB) stock		15,000			15,000			15,000			15,000			15,000
Cash surrender value of bank owned life insurance		60,296			59,889			59,486			59,101			58,719
Goodwill		71,498			71,498			71,498			71,498			71,498
Servicing assets		6,985			7,256			7,545			7,794			8,110
Core deposit intangibles		2,011			2,194			2,394			2,594			2,795
Right-of-use assets		28,048			29,283			30,530			31,231			29,803
Accrued interest and other assets		83,561			70,644			63,416			65,608			66,404
Total assets	$	3,992,477		$	3,990,477		$	3,868,186		$	3,878,006		$	4,026,025
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	563,012		$	543,623		$	542,971		$	539,517		$	539,621
Savings, NOW and money market accounts		663,034			666,089			647,770			642,840			632,729
Time deposits, $250,000 and under		1,007,452			1,052,462			1,014,189			1,083,898			1,190,821
Time deposits, greater than $250,000		850,291			830,010			818,675			762,074			811,589
Total deposits		3,083,789			3,092,184			3,023,605			3,028,329			3,174,760
FHLB advances		200,000			200,000			150,000			150,000			150,000
Long-term debt, net of issuance costs		119,529			119,433			119,338			119,243			119,147
Subordinated debentures		15,156			15,102			15,047			14,993			14,938
Lease liabilities – operating leases		29,705			30,880			32,087			32,690			31,191
Accrued interest and other liabilities		36,421			23,150			16,818			18,765			24,729
Total liabilities		3,484,600			3,480,749			3,356,895			3,364,020			3,514,765
Shareholders’ equity:
Common stock		259,957			259,280			266,160			271,645			271,925
Additional paid-in capital		3,645			3,520			3,456			3,348			3,623
Retained earnings		264,460			262,946			262,518			259,903			255,152
Non-controlling interest		72			72			72			72			72
Accumulated other comprehensive loss, net		(20,257	)		(16,090	)		(20,915	)		(20,982	)		(19,512	)
Total shareholders’ equity		507,877			509,728			511,291			513,986			511,260
Total liabilities and shareholders’ equity	$	3,992,477		$	3,990,477		$	3,868,186		$	3,878,006		$	4,026,025


RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) *(In thousands, except share and per share data)*

	For the Three Months Ended							For the Year Ended
	December 31, 2024		September 30, 2024		December 31, 2023			December 31, 2024		December 31, 2023
Interest and dividend income:
Interest and fees on loans	$	46,374	$	47,326	$	45,895		$	184,567	$	194,264
Interest on interest-earning deposits		3,641		3,388		4,650			15,422		10,746
Interest on investment securities		3,962		3,127		3,706			14,331		14,028
Dividend income on FHLB stock		330		326		312			1,314		1,125
Interest on federal funds sold and other		248		258		269			1,027		985
Total interest and dividend income		54,555		54,425		54,832			216,661		221,148
Interest expense:
Interest on savings deposits, NOW and money market accounts		4,671		5,193		4,026			19,295		12,205
Interest on time deposits		21,361		22,553		22,413			89,086		76,837
Interest on long-term debt and subordinated debentures		1,660		1,681		2,284			6,699		9,951
Interest on FHLB advances		886		453		440			2,217		2,869
Total interest expense		28,578		29,880		29,163			117,297		101,862
Net interest income before provision for credit losses		25,977		24,545		25,669			99,364		119,286
Provision for (reversal of) credit losses		6,000		3,300		(431	)		9,857		3,362
Net interest income after provision for (reversal of) credit losses		19,977		21,245		26,100			89,507		115,924
Noninterest income:
Service charges and fees		988		1,071		972			4,115		4,172
Gain on sale of loans		376		447		116			1,586		374
Loan servicing fees, net of amortization		492		605		616			2,265		2,576
Increase in cash surrender value of life insurance		407		403		374			1,577		1,409
(Loss) gain on OREO		—		—		(57	)		1,016		133
Other income		466		3,220		5,373			4,776		6,354
Total noninterest income		2,729		5,746		7,394			15,335		15,018
Noninterest expense:
Salaries and employee benefits		9,927		10,008		8,860			39,395		37,795
Occupancy and equipment expenses		2,403		2,518		2,387			9,803		9,629
Data processing		1,499		1,472		1,357			5,857		5,326
Legal and professional		1,355		958		1,291			4,453		8,198
Office expenses		399		348		349			1,455		1,512
Marketing and business promotion		251		252		241			864		1,132
Insurance and regulatory assessments		677		658		1,122			3,298		3,165
Core deposit premium		182		200		215			784		923
Other expenses		956		1,007		571			3,254		3,016
Total noninterest expense		17,649		17,421		16,393			69,163		70,696
Income before income taxes		5,057		9,570		17,101			35,679		60,246
Income tax expense		672		2,571		5,028			9,014		17,781
Net income	$	4,385	$	6,999	$	12,073		$	26,665	$	42,465

Net income per share
Basic	$	0.25	$	0.39	$	0.64		$	1.47	$	2.24
Diluted	$	0.25	$	0.39	$	0.64		$	1.47	$	2.24
Cash dividends declared per common share	$	0.16	$	0.16	$	0.16		$	0.64	$	0.64
Weighted-average common shares outstanding
Basic		17,704,992		17,812,791		18,887,501			18,121,764		18,965,346
Diluted		17,796,840		17,885,359		18,900,351			18,183,319		18,985,233


RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	For the Three Months Ended
	December 31, 2024						September 30, 2024						December 31, 2023
*(tax-equivalent basis, dollars in thousands)*	Average		Interest		Yield /		Average		Interest		Yield /		Average		Interest		Yield /
*(tax-equivalent basis, dollars in thousands)*	Balance		& Fees		Rate		Balance		& Fees		Rate		Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents ⁽¹⁾	$	308,455	$	3,890	5.02	%	$	260,205	$	3,646	5.57	%	$	333,940	$	4,919	5.84	%
FHLB Stock		15,000		330	8.75	%		15,000		326	8.65	%		15,000		312	8.25	%
Securities
Available for sale ⁽²⁾		361,253		3,939	4.34	%		298,948		3,105	4.13	%		329,426		3,684	4.44	%
Held to maturity ⁽²⁾		5,194		48	3.68	%		5,198		46	3.52	%		5,212		46	3.50	%
Total loans		3,059,786		46,374	6.03	%		3,069,578		47,326	6.13	%		3,055,232		45,895	5.96	%
Total interest-earning assets		3,749,688	$	54,581	5.79	%		3,648,929	$	54,449	5.94	%		3,738,810	$	54,856	5.82	%
Total noninterest-earning assets		244,609						242,059						253,385
Total average assets	$	3,994,297					$	3,890,988					$	3,992,195

Interest-bearing liabilities
NOW		53,879		254	1.88	%	$	55,757	$	277	1.98	%	$	54,378	$	214	1.56	%
Money market		463,850		3,735	3.20	%		439,936		4,093	3.70	%		422,582		3,252	3.05	%
Saving deposits		162,351		682	1.67	%		164,515		823	1.99	%		148,354		560	1.50	%
Time deposits, $250,000 and under		1,034,946		11,583	4.45	%		1,037,365		12,312	4.72	%		1,162,014		13,244	4.52	%
Time deposits, greater than $250,000		835,583		9,778	4.66	%		819,207		10,241	4.97	%		781,833		9,169	4.65	%
Total interest-bearing deposits		2,550,609		26,032	4.06	%		2,516,780		27,746	4.39	%		2,569,161		26,439	4.08	%
FHLB advances		200,000		886	1.76	%		150,543		453	1.20	%		150,000		440	1.16	%
Long-term debt		119,466		1,295	4.31	%		119,370		1,295	4.32	%		155,536		1,895	4.83	%
Subordinated debentures		15,121		365	9.60	%		15,066		386	10.19	%		14,902		389	10.36	%
Total interest-bearing liabilities		2,885,196		28,578	3.94	%		2,801,759		29,880	4.24	%		2,889,599		29,163	4.00	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		539,900						528,081						535,554
Other noninterest-bearing liabilities		56,993						52,428						61,858
Total noninterest-bearing liabilities		596,893						580,509						597,412
Shareholders’ equity		512,208						508,720						505,184
Total liabilities and shareholders’ equity	$	3,994,297					$	3,890,988					$	3,992,195
Net interest income / interest rate spreads			$	26,003	1.85	%			$	24,569	1.70	%			$	25,693	1.82	%
Net interest margin					2.76	%					2.68	%					2.73	%

Total cost of deposits	$	3,090,509	$	26,032	3.35	%	$	3,044,861	$	27,746	3.63	%	$	3,104,715	$	26,439	3.38	%
Total cost of funds	$	3,425,096	$	28,578	3.32	%	$	3,329,840	$	29,880	3.57	%	$	3,425,153	$	29,163	3.38	%

____________________

(1)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3)	Average loan balances include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.


RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	For the Year Ended
	December 31, 2024						December 31, 2023
*(tax-equivalent basis, dollars in thousands)*	Average		Interest		Yield /		Average		Interest		Yield /
*(tax-equivalent basis, dollars in thousands)*	Balance		& Fees		Rate		Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents ⁽¹⁾	$	297,331	$	16,449	5.53	%	$	216,851	$	11,731	5.41	%
FHLB Stock		15,000		1,314	8.76	%		15,000		1,125	7.50	%
Securities
Available for sale ⁽²⁾		324,644		14,242	4.39	%		331,357		13,928	4.20	%
Held to maturity ⁽²⁾		5,200		188	3.62	%		5,509		198	3.59	%
Total loans		3,041,337		184,567	6.07	%		3,205,625		194,264	6.06	%
Total interest-earning assets		3,683,512	$	216,760	5.88	%		3,774,342	$	221,246	5.86	%
Total noninterest-earning assets		243,258						246,980
Total average assets	$	3,926,770					$	4,021,322

Interest-bearing liabilities
NOW	$	56,158		1,105	1.97	%	$	58,191	$	725	1.25	%
Money market		436,925		15,231	3.49	%		429,102		10,565	2.46	%
Saving deposits		162,243		2,959	1.82	%		126,062		915	0.73	%
Time deposits, $250,000 and under		1,074,291		50,059	4.66	%		1,146,513		47,150	4.11	%
Time deposits, greater than $250,000		803,187		39,027	4.86	%		742,839		29,687	4.00	%
Total interest-bearing deposits		2,532,804		108,381	4.28	%		2,502,707		89,042	3.56	%
FHLB advances		162,705		2,217	1.36	%		172,219		2,869	1.67	%
Long-term debt		119,324		5,182	4.34	%		169,182		8,477	5.01	%
Subordinated debentures		15,039		1,517	10.09	%		14,821		1,474	9.95	%
Total interest-bearing liabilities		2,829,872		117,297	4.14	%		2,858,929		101,862	3.56	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		531,458						602,291
Other noninterest-bearing liabilities		53,970						59,562
Total noninterest-bearing liabilities		585,428						661,853
Shareholders’ equity		511,470						500,540
Total liabilities and shareholders’ equity	$	3,926,770					$	4,021,322
Net interest income / interest rate spreads			$	99,463	1.74	%			$	119,384	2.30	%
Net interest margin					2.70	%					3.16	%

Total cost of deposits	$	3,064,262	$	108,381	3.54	%	$	3,104,998	$	89,042	2.87	%
Total cost of funds	$	3,361,330	$	117,297	3.49	%	$	3,461,220	$	101,862	2.94	%

____________________

(1)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3)	Average loan balances include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.


RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

	At or for the Three Months Ended									At or for the Year Ended December 31,
	December 31,			September 30,			December 31,
		2024		2024			2023			2024			2023
Per share data (common stock)
Book value	$	28.66		$	28.81		$	27.47		$	28.66		$	27.47
Tangible book value ⁽¹⁾	$	24.51		$	24.64		$	23.48		$	24.51		$	23.48
Performance ratios
Return on average assets, annualized		0.44	%		0.72	%		1.20	%		0.68	%		1.06	%
Return on average shareholders’ equity, annualized		3.41	%		5.47	%		9.48	%		5.21	%		8.48	%
Return on average tangible common equity, annualized ⁽¹⁾		3.98	%		6.40	%		11.12	%		6.09	%		9.97	%
Noninterest income to average assets, annualized		0.27	%		0.59	%		0.73	%		0.39	%		0.37	%
Noninterest expense to average assets, annualized		1.76	%		1.78	%		1.63	%		1.76	%		1.76	%
Yield on average earning assets		5.79	%		5.94	%		5.82	%		5.88	%		5.86	%
Yield on average loans		6.03	%		6.13	%		5.96	%		6.07	%		6.06	%
Cost of average total deposits ⁽²⁾		3.35	%		3.63	%		3.38	%		3.54	%		2.87	%
Cost of average interest-bearing deposits		4.06	%		4.39	%		4.08	%		4.28	%		3.56	%
Cost of average interest-bearing liabilities		3.94	%		4.24	%		4.00	%		4.14	%		3.56	%
Net interest spread		1.85	%		1.70	%		1.82	%		1.74	%		2.30	%
Net interest margin		2.76	%		2.68	%		2.73	%		2.70	%		3.16	%
Efficiency ratio ⁽³⁾		61.48	%		57.51	%		49.58	%		60.30	%		52.64	%
Common stock dividend payout ratio		64.00	%		41.03	%		25.00	%		43.54	%		28.57	%

____________________

(1)		Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
(2)		Total deposits include non-interest bearing deposits and interest-bearing deposits.
(3)		Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.


RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) *(Dollars in thousands)*

	At or for the quarter ended
	December 31,			September 30,			December 31,
	2024			2024			2023
Credit Quality Data:
Special mention loans	$	65,329		$	77,501		$	32,842
Special mention loans to total loans		2.14	%		2.51	%		1.08	%
Substandard loans HFI	$	89,141		$	79,831		$	61,099
Substandard loans HFS	$	11,195		$	—		$	—
Substandard loans HFI to total loans HFI		2.92	%		2.58	%		2.02	%
Loans 30-89 days past due, excluding nonperforming loans	$	22,086		$	10,625		$	16,803
Loans 30-89 days past due, excluding nonperforming loans, to total loans		0.72	%		0.34	%		0.55	%
Nonperforming loans HFI	$	69,843		$	60,662		$	31,619
Nonperforming loans HFS	$	11,195		$	—		$	—
OREO	$	—		$	—		$	—
Nonperforming assets	$	81,038		$	60,662		$	31,619
Nonperforming loans HFI to total loans HFI		2.29	%		1.96	%		1.04	%
Nonperforming assets to total assets		2.03	%		1.52	%		0.79	%

Allowance for loan losses	$	47,729		$	43,685		$	41,903
Allowance for loan losses to total loans HFI		1.56	%		1.41	%		1.38	%
Allowance for loan losses to nonperforming loans HFI		68.34	%		72.01	%		132.52	%
Net charge-offs	$	2,006		$	1,201		$	109
Net charge-offs to average loans		0.26	%		0.16	%		0.01	%

Capital ratios ⁽¹⁾
Tangible common equity to tangible assets ⁽²⁾		11.08	%		11.13	%		11.06	%
Tier 1 leverage ratio		11.92	%		12.19	%		11.99	%
Tier 1 common capital to risk-weighted assets		17.94	%		18.16	%		19.07	%
Tier 1 capital to risk-weighted assets		18.52	%		18.75	%		19.69	%
Total capital to risk-weighted assets		24.49	%		24.80	%		25.92	%

____________________

(1	)	December 31, 2024 capital ratios are preliminary.
(2	)	Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.


RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

Loan Portfolio Detail	As of December 31, 2024					As of September 30, 2024					As of December 31, 2023
*(dollars in thousands)*	$			%		$			%		$			%
Loans:
Commercial and industrial	$	129,585		4.2	%	$	128,861		4.2	%	$	130,096		4.3	%
SBA		47,263		1.5	%		48,089		1.6	%		52,074		1.7	%
Construction and land development		173,290		5.7	%		180,196		5.8	%		181,469		6.0	%
Commercial real estate ⁽¹⁾		1,201,420		39.3	%		1,252,682		40.5	%		1,167,857		38.5	%
Single-family residential mortgages		1,494,022		48.9	%		1,473,396		47.7	%		1,487,796		49.1	%
Other loans		7,650		0.4	%		8,672		0.2	%		12,569		0.4	%
Total loans ⁽²⁾	$	3,053,230		100.0	%	$	3,091,896		100.0	%	$	3,031,861		100.0	%
Allowance for loan losses		(47,729	)				(43,685	)				(41,903	)
Total loans, net	$	3,005,501				$	3,048,211				$	2,989,958

_____________________

(1)		Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
(2)		Net of discounts and deferred fees and costs of $488, $467, and $542 as of December 31, 2024, September 30, 2024, and December 31, 2023, respectively.


Deposits	As of December 31, 2024				As of September 30, 2024				As of December 31, 2023
*(dollars in thousands)*	$		%		$		%		$		%
Deposits:
Noninterest-bearing demand	$	563,012	18.3	%	$	543,623	17.6	%	$	539,621	17.0	%
Savings, NOW and money market accounts		663,034	21.5	%		666,089	21.5	%		632,729	19.9	%
Time deposits, $250,000 and under		882,438	28.6	%		926,877	30.0	%		876,918	27.6	%
Time deposits, greater than $250,000		827,854	26.8	%		808,304	26.1	%		719,892	22.7	%
Wholesale deposits ⁽¹⁾		147,451	4.8	%		147,291	4.8	%		405,600	12.8	%
Total deposits	$	3,083,789	100.0	%	$	3,092,184	100.0	%	$	3,174,760	100.0	%

______________________

(1)		Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

Non-GAAP Reconciliations

Tangible Book Value Reconciliations

Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of December 31, 2024, September 30, 2024, and December 31, 2023.


*(dollars in thousands, except share and per share data)*	December 31, 2024			September 30, 2024			December 31, 2023
Tangible common equity:
Total shareholders’ equity	$	507,877		$	509,728		$	511,260
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(2,011	)		(2,194	)		(2,795	)
Tangible common equity	$	434,368		$	436,036		$	436,967
Tangible assets:
Total assets-GAAP	$	3,992,477		$	3,990,477		$	4,026,025
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(2,011	)		(2,194	)		(2,795	)
Tangible assets	$	3,918,968		$	3,916,785		$	3,951,732
Common shares outstanding		17,720,416			17,693,416			18,609,179
Common equity to assets ratio		12.72	%		12.77	%		12.70	%
Tangible common equity to tangible assets ratio		11.08	%		11.13	%		11.06	%
Book value per share	$	28.66		$	28.81		$	27.47
Tangible book value per share	$	24.51		$	24.64		$	23.48

Return on Average Tangible Common Equity

Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:


	Three Months Ended									Year Ended December 31,
*(dollars in thousands)*	December 31, 2024			September 30, 2024			December 31, 2023			2024			2023
Net income available to common shareholders	$	4,385		$	6,999		$	12,073		$	26,665		$	42,465
Average shareholders’ equity		512,208			508,720			505,184			511,470			500,540
Adjustments:
Average goodwill		(71,498	)		(71,498	)		(71,498	)		(71,498	)		(71,498	)
Average core deposit intangible		(2,129	)		(2,326	)		(2,935	)		(2,425	)		(3,282	)
Adjusted average tangible common equity	$	438,581		$	434,896		$	430,751		$	437,547		$	425,760
Return on average common equity		3.41	%		5.47	%		9.48	%		5.21	%		8.48	%
Return on average tangible common equity		3.98	%		6.40	%		11.12	%		6.09	%		9.97	%

The MIL Network –

February 4, 2025

MIL-OSI USA: Attorney General Bonta Intervenes in Lawsuit Challenging Approval of Betabel Commercial Development to Protect Tribal Cultural Resources
Source: US State of California Department of Justice

OAKLAND — California Attorney General Rob Bonta today was granted intervention in a lawsuit challenging San Benito County’s approval of the Betabel Commercial Development. In the lawsuit, the Attorney General filed a petition in intervention alleging the County’s approval of the project’s Environmental Impact Report (EIR) violated the California Environmental Quality Act (CEQA), including CEQA’s requirement that the County consult with California Native American tribes and address impacts to tribal cultural resources that would be irreparably harmed by the project. Located on the ancestral lands of the Amah Mutsun Tribal Band, the proposed 108,425 square-foot commercial site would be situated within a tribal cultural landscape known as Juristac, which holds significant spiritual and historical value. The Attorney General’s petition in intervention requests the court to order the County to withdraw its existing Final EIR, reopen tribal consultation under requirements added to CEQA by Assembly Bill (AB) 52, fully analyze the project’s impacts on tribal cultural resources, and consider feasible mitigation requested by the Tribe.

“Ensuring that California Native American tribes are consulted about a project’s potential impacts to tribal cultural resources is crucial to support thriving tribal communities in the state,” said Attorney General Bonta. “Today’s petition challenging the County’s decision to approve the Betabel project, without complying with its consultation obligations with the Tribe, seeks to address the potential irreparable harms to the cultural landscape and resources of the Amah Mutsun Tribal Band. Project development and proper tribal consultation under the law are not mutually exclusive, and we’re committed to helping local governments find a sustainable path forward. At the California Department of Justice, we’re dedicated to elevating the voices of California’s tribal communities in asserting their rights under the law concerning their ancestral lands.”

CEQA includes important procedural requirements for public agencies to consult with tribes that are traditionally or culturally affiliated with a project site and analyze project impacts on tribal cultural resources during their environmental review process for a project. The statute recognizes the expertise and knowledge of California Native American tribes with regards to their tribal history, practices, and cultural resources, and upholds tribes’ rights to participate in and contribute their knowledge to CEQA’s environmental review process. Furthermore, CEQA requires that tribal consultation must be “meaningful and timely” so that tribal cultural resources can be identified, and culturally-appropriate mitigation and monitoring programs can be adopted by the lead agency.

San Benito County rushed through its tribal consultation process such that it did not sufficiently consider or address impacts to tribal cultural resources. As a result, several tribal cultural resources were not identified in the Draft EIR, and thus the impacts on those resources were not adequately analyzed or disclosed, and mitigation for those impacts was not considered by the decision-makers or the public. The County’s failure to meaningfully and timely consult with the Tribe and its failure to analyze and mitigate impacts to tribal cultural resources violated CEQA.

The petition alleges the County violated CEQA because it failed to:
- Analyze impacts to all tribal cultural resources in the Draft EIR and adopt mitigation specific to each of these resources in the Final EIR.
- Begin consultation with the Tribe within 30 days of their request for consultation, as directed by the statute.
- Consult on topics, such as recommended mitigation measures or significant impacts on tribal cultural resources, as requested by the Tribe and directed by the statute.
The Attorney General originally sought to intervene in this lawsuit in San Benito County Superior Court in March 2023. But before the Court ruled on the Attorney General’s motion to intervene, it dismissed the lawsuit, finding that the Tribe and other petitioners in a related lawsuit had not met CEQA’s deadline for filing suit. The Tribe and other petitioners appealed that decision, and the Attorney General submitted an amicus brief in support of the appeal. The Sixth District Court of Appeal agreed with the Tribe and our Office that the lawsuit was timely. That decision sent the case back to the trial court and on December 31, 2024, the Court vacated its prior dismissal, restarting the litigation.

California Attorney General Bonta is committed to protecting the rights of California’s tribal communities in the CEQA process. In July 2022, the Attorney General raised concerns regarding Riverside County’s analysis of a project’s tribal cultural resource impacts in a CEQA comment letter. In that comment letter, he urged the County to analyze impacts to tribal cultural resources with the same level of rigor as analyses of other environmental resources. Also, the Attorney General filed amicus briefs in support of the Koi Nation in litigation against the City of Clearlake, first in October 2023 in the superior court and then in in July 2024 in the court of appeal. The amicus briefs argued that the City’s tribal consultation did not meet the statutory requirements. Also, the briefs argued that the City’s reliance solely on archaeological studies to identify and analyze impacts to tribal cultural resources was in error, and that the tribe’s cultural values must be considered when determining impacts and mitigation. The case is still pending before the court of appeal and oral argument has not yet been set.

A copy of the Attorney General’s motion to intervene, which includes the petition, is available here. The court’s minute order is available here.

MIL OSI USA News –
February 4, 2025
MIL-OSI: DMG Blockchain Solutions Announces Preliminary January Mining Results
Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, Feb. 03, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, today announces its preliminary mining results for January 2025.
- Bitcoin Mined: 31 BTC (vs 32 BTC in Dec 2024)
- Hashrate: 1.75 EH/s (vs 1.68 EH/s in Dec 2024)
- Bitcoin Holdings: 431 BTC (vs 406 BTC in Dec 2024)
DMG’s CEO, Sheldon Bennett, commented, “In January, we continued to make incremental hashrate gains. We have been focused on expanding our hashrate to 2.1 EH/s in the current quarter based on utilizing leading-edge hydro direct liquid cooling (DLC) technology. We deployed our first megawatt of hydro miners, and hence, we exited January at 1.8 EH/s. We still expect to energize the remaining five megawatts in the current quarter.”

About DMG Blockchain Solutions Inc.

DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon-neutral Bitcoin ecosystem, which enables financial institutions to move Bitcoin in a sustainable and regulatory-compliant manner.

For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.

For further information, please contact:

On behalf of the Board of Directors,

Sheldon Bennett, CEO & Director
Tel: +1 (778) 300-5406
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com

For Investor Relations:
investors@dmgblockchain.com

For Media Inquiries:
Chantelle Borrelli
Head of Communications
chantelle@dmgblockchain.com

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

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, energizing the remaining 5 MW of hydro miners in the current quarter, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company’s products and services, increasing self-mining, increasing hashrate, efforts to improve the operation of its mining fleet, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty.

Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

The MIL Network –
February 4, 2025
MIL-OSI New Zealand: Pacific – Fiji to enjoy real estate growth in 2025 driven by foreign investment, infrastructure developments and Google’s data centre plans
Source: Raine & Horne

Leading real estate firm Raine & Horne Fiji predicts growth of 2-4% growth for residential markets such as Suva, Nadi and Lautoka in 2025.

Highlights:

The Fijian real estate market demonstrated strong resilience in 2024, with sustained demand for residential properties in key urban centres, including Suva, Nadi, and Lautoka. This trend is expected to result in healthy real estate growth of up to 4% in 2025.

The recent announcement of Google’s FJ$200 million data centre investment, expected to create 3,600 jobs, is set to significantly boost the residential real estate markets in Fiji.

Infrastructure developments, growing tourism, and the expansion of short-term rentals continue to drive residential property demand in key locations such as Pacific Harbour.

Lautoka, Fiji – 4 February 2025 – The Fijian real estate market demonstrated strong resilience in 2024, with steady demand for residential properties in key urban centres such as Suva, Nadi, and Lautoka.

This positive trend is expected to drive healthy growth of up to 4% in 2025, according to leading real estate firm Raine & Horne Fiji. This outlook is further buoyed by the recent announcement of Google’s FJ$200 million data centre investment in the Pacific nation, which is set to bolster the local economy and real estate market.

Fiji’s real estate growth in 2024

Ms Shyamlee Raju, Managing Director of Raine & Horne Fiji, says that in 2024, there was sustained demand for residential properties, particularly in Suva, Nadi, and Lautoka, thanks to a growing number of local workers and expatriates leasing apartments.

“The rebound in tourism, combined with ongoing recovery from COVID-19 impacts, has been a major driver,” Ms Raju said.

“Overall, real estate prices in Fiji saw moderate growth in 2024, with some areas such as Nadi and parts of Suva experiencing higher price increases due to ongoing infrastructure developments, such as improvements in transportation, utilities, and tourism-related facilities.

Google’s game-changer for Fiji’s real estate market and economic growth

One of the most significant developments in Fiji is the announcement of Google’s FJ$200 million data centre investment, which, according to the Fijian government, has the potential to create 3,600 jobs[i].

Ms Raju said, “Jobs created by the data centre will generate greater demand for residential housing, particularly for professionals moving to Fiji to work in or around the tech industry. The Google announcement could spur growth in the rental market and the demand for homes for sale.”

To illustrate, a luxurious three-bedroom penthouse in the heart of Suva within the Brightstar Apartment block on Berry Road is available for rent through Raine & Horne Fiji and is set to attract well-heeled tenants.

Ms Raju said, “This is the most sought-after executive rental property in the heart of Suva available right now, and it is within minutes of the city’s CBD, supermarkets, cafes, restaurants, schools, cinemas and the iconic Colonial War Memorial Hospital.

“This penthouse would be ideal for high-end expatriates and those interested in moving to Fiji for work.”

Other factors driving residential property demand

The demand for short-term rental properties, particularly for Airbnb holiday rentals, has contributed to rising property prices in Nadi, Suva and Lautoka.

“We have seen a growing number of apartments and properties purchased as Airbnbs, which is a hindrance for tenants looking for long-term tenancy,” commented Ms Raju.

“Most properties in Nadi are now run as Airbnbs.”

Pacific Harbour and infrastructure developments

According to Ms Raju, demand for real estate in Pacific Harbour, the tourist mecca on the south coast of Viti Levu, was a notable trend in 2024. Pacific Harbour’s natural beauty, improved accessibility to Suva, which is 50 kilometres away, and relatively affordable property prices compared to other regions drove the demand.

In November alone, Raine & Horne Fiji sold four lots in one week in Pacific Harbour, a significant achievement that underscores the confidence in this market.

Ms Raju added, “Infrastructure improvements, such as better road access to Suva and the development of tourism-related facilities, are making Pacific Harbour an attractive location for both local buyers and expatriates seeking vacation homes or retirement properties.”

Fiji’s real estate market poised for steady growth in 2025

Ms Raju is optimistic about 2025, and she is predicting growth of 2-4% across most regions of Fiji.

“While economic uncertainties and interest rates could introduce some challenges, the fundamentals of infrastructure development, tourism recovery, and increasing foreign investment provide a solid foundation for market growth,” said Ms Raju.

Raine & Horne Fiji also anticipates an increase in foreign investment in the country’s real estate market in 2025. Several factors are driving this optimism, including the upcoming Google Data Centre, will potentially attract international interest.

“Additionally, continued Fijian tourism growth is appealing to foreign buyers, particularly the luxury resorts, beachfront properties, and vacation homes,” said Ms Raju.

“Strong government support for foreign investment further underpins the longer-term outlook, positioning Fiji as an attractive real estate market for international buyers seeking opportunities in real estate.”

In response to this promising growth and outlook, Raine & Horne Fiji plans to expand its network of residential sales agents and offices to better serve local and international clients.

“We are focused on providing tailored advice to first-time homebuyers, expatriates, and foreign investors,” said Ms Raju.

“Our goal is to remain adaptable and embrace digital tools such as Raine & Horne’s first-to-market AI-powered social media marketing tool Amplify[ii] to expand market reach, keeping up with trends like sustainability and tech-driven developments.

“Raine & Horne Fiji has the expertise and resources to adapt to these trends and developments, providing clients with the insights, services, and support they need to succeed in the Fijian residential real estate market.

“With a promising outlook and a growing market, Raine & Horne Fiji is well-positioned to capitalise on the country’s real estate potential in 2025.”
MIL OSI New Zealand News –
February 4, 2025
MIL-OSI: Ingersoll Rand Continues Momentum on Inorganic Growth in 2025
Source: GlobeNewswire (MIL-OSI)
- Acquisition extends company’s capabilities in wastewater treatment, a key high-growth, sustainable end market
- Enables Ingersoll Rand to provide more comprehensive wastewater treatment solutions, allowing for greater energy efficiency and increased productivity for customers
- Creates opportunities to accelerate topline growth through access to municipal markets
- Attractive purchase multiple of approximately 10x 2024E Adjusted EBITDA
DAVIDSON, N.C., Feb. 03, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and life science and industrial solutions, has acquired SSI Aeration, Inc. and its subsidiaries (collectively “SSI”) to extend its capabilities in wastewater treatment.

SSI is a global leader in the design and manufacturing of wastewater treatment plant equipment with approximately $30 million in annual revenue. Its product portfolio is focused on innovative and energy-efficient engineered membrane diffusers including fine bubble diffusers, coarse bubble diffusers, and aeration systems. The acquisition will enable Ingersoll Rand to combine several technologies like low pressure compressors with SSI’s aeration offerings to provide a comprehensive, end-to-end solution. With manufacturing facilities in the United States, South Korea, and India, SSI will join the Industrial Technologies and Services segment (IT&S).

“Inorganic growth remains a key part of our company’s overall growth strategy in 2025,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “We look at potential acquisitions through the lens of how they will help us optimize our solutions, and we look forward to growing our presence in the wastewater treatment market with the addition of SSI.”

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to Ingersoll Rand Inc.’s (the “Company” or “Ingersoll Rand”) expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.

These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to natural disaster, catastrophe, global pandemics (including COVID-19), geopolitical tensions, cyber events or other events outside of our control; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://www.sec.gov. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Contacts:

Investor Relations:
Matthew.Fort@irco.com

Media:
Sara.Hassell@irco.com

The MIL Network –
February 4, 2025
MIL-OSI Global: Musk’s inauguration salute is not the only apparent fascist signal from Trump’s administration

Source: The Conversation – USA – By Matthew Kriner, Director of Strategy, Partnerships and Intelligence at the Center on Terrorism, Extremism, and Counterterrorism, Middlebury Institute of International Studies

Elon Musk claimed this is not a Nazi salute − but then replied to critics with Nazi-themed puns. Angela Weiss/AFP via Getty Images)

Once again, a presidential administration headed by Donald Trump is in the spotlight over allegations of hidden fascist sympathies. This time, it’s precipitated by what one observer called a “stiff-armed salute” that presidential supporter and adviser Elon Musk did twice during inauguration festivities.

Critics have said it is a clear Nazi salute, while others have claimed it was just an awkward motion. Perhaps it was just the world’s worst dab.

Musk turned the controversy over his gesture into something like a joke about Nazis. On X, he posted, “Don’t say Hess to Nazi accusations!” and “Bet you did nazi that coming.”

This is not the first time that Trump or someone close to him has been accused of sending fascist messages, even if they denied doing so. Nor even is it the first time a well-known figure endorsing Donald Trump has been accused of giving a Nazi salute.

As a scholar of far-right extremism, I regularly review instances of coded fascist symbols and other right-wing messages being sent by public figures and their supporters, some more obvious than others.

In plain sight

Like Musk, TV commentator Laura Ingraham ended a fiery speech endorsing then-candidate Trump in 2016 with a rigidly outstretched arm with her palm down – in the exact manner German Nazis in the 1930s and 1940s and rank-and-file modern neo-Nazis perform the “Sieg Heil,” or Nazi salute. Ingraham dismissed the criticism and in 2025 defended Musk’s action.

Laura Ingraham speaks and gestures at a Trump rally in 2016.

In 2021, the Conservative Political Action Conference set up its center stage in the shape of an odal rune. That is an ancient pagan symbol coopted by Germany’s Nazi regime and worn prominently during World War II on the uniforms of the brutal Waffen SS units. Social media erupted in outrage over the likeness, and columnists spilled much ink. Event organizers rejected the criticism, calling it “outrageous and slanderous.”

Trump himself has been reluctant to criticize white supremacists. In August 2017, he responded to a reporter’s statement that neo-Nazis had “started” the violence during and after a rally they held in Charlottesville, Virginia, by saying “(t)hey didn’t put themselves down as neo-Nazis. And you had some very bad people in that group. But you also had people that were very fine people on both sides.”

During the September 2020 presidential debate, Trump responded to a request from moderator Chris Wallace to condemn right-wing paramilitary groups by instead referencing one of them, saying, “Proud Boys, stand back and stand by.”

Just a few months later, several Proud Boys members would help spearhead the violent insurrection against the peaceful transfer of power at the U.S. Capitol on Jan. 6, 2021. Some of them were convicted of federal crimes for their efforts, though upon retaking office in 2025, Trump pardoned them or commuted their sentences.

More overtly, in November 2022 Trump invited Kanye West to dinner at Mar-a-Lago, despite West’s having posted antisemitic remarks recently on social media. Also at the dinner was well-known antisemite and white supremacist Nick Fuentes, whom Trump denied knowing anything about ahead of time, saying he arrived “unexpectedly” with West.

The night before the ‘Unite the Right’ rally in Charlottesville, Va., in August 2017, people carrying torches and chanting fascist slogans marched through the University of Virginia campus.

Coded messages

In other more abstract and lesser-known incidents, Trump may make his sympathies known without making direct statements himself. And I have personally observed white supremacists remark upon – and take encouragement from – these implied messages on Telegram channels dedicated to antisemitism and hate.

In February 2018, during Trump’s first term as president, the Department of Homeland Security issued a 14-word press release titled “We Must Secure The Border And Build The Wall To Make America Safe Again.” I and other investigators of far-right extremism attributed this phrase’s use to a clear dog whistle of the common white supremacist saying known as “the 14 words” – “we must secure the existence of our people and a future for white children.”

In June 2020, Facebook removed Trump campaign ads for iconography invoking Nazi concentration camp symbols that “violat(ed) our policy against organized hate.” A campaign official disputed the association, saying other groups, including Facebook and anti-fascist groups, used the same symbol.

In September 2024, pro-Trump CEO Mike Lindell’s company MyPillow ran a sale discounting a pillow from $49.98 to $14.88. Critics quickly pointed out that this aligned with the 14-word white supremacist slogan and the numerical reference “88” that white supremacists use to mean “Heil Hitler,” because H is the eighth letter of the alphabet. Lindell denied any connection between the price and right-wing messaging.

A list of the 14 people whose Jan. 6-related sentences President Donald Trump commuted.
Screenshot of WhiteHouse.gov

And on the very day he was inaugurated for his second term, Trump pardoned more than 1,500 people, including at least two alleged members of the Proud Boys, for their actions on Jan. 6, 2021. And he commuted the sentences of 14 people, including four members of the Proud Boys.

This extraordinary move was applauded by Proud Boys leader Enrique Tarrio, who was among those pardoned. Others who received presidential clemency said they were grateful to Trump and encouraged by his action.

Signaling fascism

Sending these sorts of fascist and white supremacist messages allow Trump and his supporters to court right-wing extremist supporters while claiming innocence in the face of public outrage.

If they deny the allegations of veiled fascism or white supremacy, Trump and his backers can claim their opponents are inflamed against them and conducting ideological witch hunts.

Family members and friends of people imprisoned for their actions on Jan. 6, 2021, wait outside the Washington, D.C., jail for their release on Jan. 22, 2025.
Celal Gunes/Anadolu via Getty Images

But failure to directly deny allegations of fascism is a common strategy used by far-right and radical conservative movements seeking to obscure deeper links to extremist groups to avoid public backlash.

The lack of explicit admission can end up leaving these actions and symbols open to interpretation. Trump’s MAGA movement members, led by his inner circle of advisers and lieutenants, have consistently sought to use outrage and anger to generate additional momentum and attention for their agenda.

But as the old saying goes, “where there’s smoke there’s fire” – and in this case the smoke is probably closer to a book-burning bonfire in Berlin than a tiki torch carried in Charlottesville.

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

– ref. Musk’s inauguration salute is not the only apparent fascist signal from Trump’s administration – https://theconversation.com/musks-inauguration-salute-is-not-the-only-apparent-fascist-signal-from-trumps-administration-248517

MIL OSI – Global Reports –

February 4, 2025
MIL-OSI United Nations: Press Conference by Security Council President on Programme of Work for February

Source: United Nations General Assembly and Security Council

The Security Council’s February programme of work will feature a signature event on practising multilateralism and reforming and improving global governance, its President for the month announced at a Headquarters press conference today.

“As the world enters a very turbulent period, the open debate aims to encourage countries to revisit the original aspirations of the [United Nations],” said Fu Cong of China, which has assumed the rotating presidency of the 15-nation organ. This high-level meeting, scheduled for 18 February, will be chaired by his country’s Foreign Minister, Wang Yi, he said, encouraging foreign ministers and senior officials of other countries to attend.

The Middle East will remain a priority on the Council’s agenda this month, he said, noting briefings on the Palestinian issue, Syria and Yemen. The Gaza situation remains fragile, and the Council needs to ensure full implementation of the ceasefire agreement and unhindered humanitarian access. Also highlighting reports of the Israel Defense Forces’ military attacks on Sunday, 2 February, against residential blocks in Jenin, he said the Council is considering a possible meeting to address this.

It will also pay close attention to the challenges facing United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), he added. On Syria, he said, the Council’s focus is on supporting that country in maintaining unity, restoring stability and starting a credible and inclusive political transition.

Turning to Africa, he noted that the situation in eastern Democratic Republic of the Congo “is deteriorating rapidly which could further jeopardize peace and security of the region”. The Council’s actions must be conducive to the cessation of hostilities and easing of tensions there. The programme of work for February also includes briefings on UN missions in South Sudan, Libya and the Central African Republic, as well as the situation in Sudan, he said. Pointing to the volatile security and humanitarian situations in many countries on the continent, he said, as President, “China will work with other Council members, the A3 [Council members representing African countries] in particular, to promote dialogue and consultation and seek political solutions on African issues.”

The Council will also consider the Secretary-General’s semi-annual report on the threat posed by Islamic State in Iraq and the Levant (ISIL/Da’esh), he said, describing it as an opportunity to further coordinate counter-terrorism efforts. It will also conduct its annual dialogue with the peacekeeping police, and will hold consultations on the Security Council Committee pursuant to resolution 1718 (2006), regarding sanctions relating to the Democratic People’s Republic of Korea. China will “encourage Council members to consult with each other to enhance trust and bridge differences”, he said, noting that the presidency will invite civil society representatives to participate in relevant meetings and keep in close contact with the media.

In the ensuing conversation with correspondents, Ambassador Fu elaborated on the open debate on multilateralism, noting the increasing calls in the international community, particularly among the Global South countries, for reforming the global governance system. Rather than “dismantling the existing system or reinventing the wheel”, the aim is to build a more equitable system that addresses the global governance deficit, he said. He also stressed the need to enhance the Council’s ability to respond to crises, adding that “solidarity and cooperation are being replaced by division and confrontation”, as a result of which, the Council has been unable to discharge its responsibilities. The core of the diplomatic mission is to build bridges, he said, adding that the Council must return to the path of multilateralism.

Mr. Fu took several questions concerning the new United States President Donald J. Trump’s “America First” policy, its impact on the United Nations, as well as the 10 per cent tariffs he recently imposed on Chinese goods. His country considers the tariff increases unwarranted, he said, and will file a complaint to the World Trade Organization (WTO). “There is no winner in a trade war,” he emphasised, and noting that the excuse for raising tariffs is fentanyl, he said China has stringent regulations on that and related substances. The United States should look at its own problems, including the “demand side of fentanyl”, he advised.

China and the United States have much in common, he said, adding that it is essential they cooperate on global issues such as climate change and terrorism. Further, as the two biggest financial contributors “within this house”, he said both countries have similar concerns about improving the efficiency of the United Nations. All these offer avenues of cooperation, he said.

He also took a question on United States’ claims that China has influence over the Panama Canal and surrounding areas, and the subsequent statement by Panama’s President about leaving the Belt and Road initiative. Such an action would be regrettable, he said, stressing that his country has not participated or interfered in the management or operation of the Canal. The Panama Belt and Road initiative is an economic platform to enable Global South countries to cooperate with each other, he said, adding that the “smear campaign launched by the US and other Western countries on this initiative is totally groundless”.

Regarding competition with the United States on artificial intelligence (AI) he noted that the Chinese AI tool DeepSeek has caused “some commotion or panic in certain quarters” and encouraged the correspondents to use it to write their news reports. Technological restrictions do not work, he said, adding: “Never ever underestimate the ingenuity of Chinese scientists and engineers.” The world must ensure the benefits of artificial intelligence are available to all countries and there are guardrails to prevent it from being misused, he said, noting that his country put forward the Assembly resolution concerning cooperation on this matter.

Responding to various questions concerning the conflict in the Democratic Republic of the Congo, he said a ceasefire is a priority — the 23 March Movement (M23) and Rwandan troops must withdraw from the territories they occupied. Encouraging Rwanda and the Democratic Republic of the Congo to engage in peace talks, he noted that one Council member has floated the idea of a resolution on this topic, which his country will support in its national and presidential capacity. The territorial integrity of the Democratic Republic of the Congo must be protected, he said, calling on parties to respond to mediation efforts.

On meetings concerning Ukraine, he noted proposals from Member States to mark the upcoming 25 February anniversary of the beginning of the conflict in that country. China is obliged to make proper arrangements according to rules of procedures, he said, adding that it is also crucial to highlight that conflict’s ramifications on the food and energy security, as well as maritime transportation.

For the full programme of work, please see: www.un.org/securitycouncil/events/calendar.

MIL OSI United Nations News –

February 4, 2025
MIL-OSI Canada: Premier Pillai condemns Trump administration tariffs on Canada and announces first phase of Yukon’s response as part of Team Canada
Premier Pillai condemns Trump administration tariffs on Canada and announces first phase of Yukon’s response as part of Team Canada
mnicks
February 2, 2025 – 3:13 pm
Premier Pillai has issued the following statement:

“Yesterday I had the opportunity to meet with the Prime Minister and fellow Premiers from across the country to discuss our response to the Trump administration’s harmful tariffs on Canada.

“We are united in standing up for Canada and Canadians against this blatant attack on our country, our economy and our sovereignty.

“The Trump administration’s tariffs on Canada are irresponsible and will harm people and businesses on both sides of the border. They will make life more expensive for everyone, especially Americans, as the increased costs of importing Canadian goods get passed on to American consumers.

“Canadians will stand together, and we will fight back.

“One way we can all fight back is by buying local and supporting Canadian businesses. I urge Yukoners to spend money in Canada, vacation in Canada, and look for Canadian-made alternatives to U.S.-made products and services.

“I encourage local retailers to consider how they can feature Canadian-made products to help customers identify Canadian-made goods.

“The Government of Yukon will also do our part. Effective today, the Yukon government will:
- Direct the Yukon Liquor Corporation to stop purchasing beer, wine and spirits from the U.S. Private licensees may continue to sell products they already have in stock, but, moving forward, the Yukon Liquor Corporation will stop placing new orders of U.S.-made alcohol.
- Begin reviewing territorial government procurement policies to exclude U.S. companies and minimize the purchase of U.S. goods and services, wherever possible.
“This is the first phase of our response.

“These are significant actions, and we do not take them lightly.

“This is a time for Canadians to stand together. On behalf of Yukoners, I’m proud to stand with Team Canada against the Trump administration’s attack on our country, our sovereignty and our livelihoods.”
MIL OSI Canada News –
February 4, 2025

Category: Politics

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