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Category: Politics

  • MIL-OSI Global: Almost Zion: Remembering a short-lived Jewish state in New York

    Source: The Conversation – USA – By Adam L. Rovner, Director of the Center for Judaic Studies, University of Denver

    Twin bridges spanning the Niagara River lead from Tonawanda to Grand Island, New York — the proposed site of ‘Ararat.’ Kevin Menschel/iStock via Getty Images Plus

    At dawn on Sept. 15, 1825, a burst of cannon fire shook the ramshackle buildings of Buffalo, New York. Families raced down the main street to witness a grand ceremony, following a parade of soldiers, clergymen, Freemasons, musicians and Seneca tribesmen, including their venerable chief, Red Jacket. All surged toward St. Paul’s Episcopal Church, the frontier town’s only grand edifice.

    Inside, a crowd of Christians, Jews and Native Americans were already packed together to witness the founding of Ararat, a tract of land on nearby Grand Island that was intended to be the first autonomous Jewish city-state in almost 1,800 years.

    Ararat’s 400-pound cornerstone, engraved with a central Jewish tenet of faith from the Bible’s Book of Deuteronomy, rested inside the church. When the swell of the organ died down, former diplomat, political power broker and playwright Mordecai Manuel Noah – the man who had dreamed up Ararat – rose to his feet.

    Today, this marker is one of the few surviving signs of the proposed settlement.
    Adam Rovner

    Described as a “stout … gentleman, with sandy hair, a large Roman nose, and … red whiskers,” Noah had draped himself for the ceremony in fur-trimmed robes borrowed from a theater. He triumphantly announced the reestablishment of “the Government of the Jewish Nation … under the auspices and protection of the constitution and laws of the United States of America.”

    Noah also welcomed Native Americans, whom he – like many Americans at the time – mistakenly believed were “the descendants of the lost tribes of Israel.” In addition, he granted equal “rights and religious privileges” to the “black Jews of India and Africa,” disclosing a rare-for-his-time sensitivity toward Jews of color.

    A portrait of Mordecai Noah by 19th-century painter John Wood Dodge.
    Smithsonian American Art Museum via Wikimedia Commons

    But Noah’s utopian ark sank with barely a trace. Not a single Jew heeded his call to settle Ararat. Noah himself abandoned ship when his calls for a Jewish republic were rebuffed by religious leaders. All that he left behind was the cornerstone.

    As a scholar who scours archives to trace connections between literature and history, I’ve seen how Noah’s efforts to found a Jewish statelet have fascinated students of both American and Zionist history.

    Noah was only the first of many modern thinkers to propose establishing Jewish territories far from the biblical land of Israel. In the 20th century, organizations seeking a humanitarian solution to Jewish persecution considered carving out enclaves the world over, including lands in today’s Kenya, Angola, Madagascar, Tasmania and Suriname.

    ‘City of refuge’

    Noah wielded considerable influence in early 19th-century America through his roles as a political party boss, helming various daily newspapers, and as a popular playwright. But he was also a marginalized outsider at a time when there were fewer than 500 Jews in Manhattan, the young republic’s largest city.

    Noah used his press pulpit to demand equality for Jews, even proposing himself as a presidential candidate. He remained one of few high-profile American Jews throughout his life, urging other citizens to acknowledge that one’s faith and patriotism need never be at odds. Yet antisemitic slurs dogged him throughout his career.

    After witnessing the persecution of Jews in Europe during his diplomatic travels, Noah hoped Ararat would be a territorial solution to religious oppression.

    ‘Noah’s Ark,’ by 19th-century American painter Edward Hicks.
    Philadelphia Museum of Art via Wikimedia Commons

    In some ways, his efforts hearkened back to the origins of America itself. Instead of the Mayflower, Noah invoked the symbolic ark of his biblical namesake – “Ararat” is the biblical name of the mountain where the ark came to a rest after the flood. In the role of the Puritans, he cast European Jewry. And instead of Plymouth Rock, he landed on Grand Island. As the cornerstone of Ararat proclaimed, the settlement was to be a “city of refuge for the Jews” – one that Noah hoped would grow to become a state and be admitted to the American republic.

    In his speeches, Noah imagined that Ararat would allow European Jews to escape persecution while simultaneously fulfilling America’s need for immigration, industry and financial capital. He also believed that his purchase of 2,555 acres of Grand Island would prove a lucrative personal investment: The recently completed Erie Canal, he reasoned, would make Buffalo a major port.

    Failure to launch

    At the time of Noah’s proposal, the Zionist movement – the modern political program for Jewish national self-determination – had not yet coalesced. Most Jews at the time believed that founding a Jewish state in the land of Israel was a pipe dream, or worse. God had expelled their ancestors from the Holy Land in 70 C.E., they believed, so taking matters into their own hands and rebuilding a Jewish state there would be blasphemy.

    Noah hoped to sidestep those theological objections by locating a Jewish polity in the promised land of America, not the biblical promised land. Nonetheless, Jewish leaders dismissed his vision as contrary to God’s will. The chief rabbis of England and France publicly condemned Noah’s plan, and the September 1825 ceremony in Buffalo proved Ararat’s high point.

    Though ridiculed in the press for Ararat’s failure, Noah took a philosophical view:

    I … stand as the pioneer of the great work, leaving others to complete it. … When sneers and mockery shall have had their day … then my motives and objects will have been duly estimated and rewarded.“

    The front page of one of Mordecai Noah’s books, published in 1819.
    Library of Congress via Wikimedia Commons

    Birth of Zionism

    Noah quickly resumed his career as a journalist and emerged as a kind of ambassador, penning articles and delivering speeches that linked Jewish and Christian America. To Christians, he explained Jewish practices. To his brethren, he demonstrated the fundamental compatibility between the ideals of Judaism and the United States, assuring them that America “is the country which the Almighty has blessed,” a land in which Jews “may repose in safety and happiness.”

    Yet Noah never abandoned his plans for Jewish self-government and ultimately advocated national repatriation to areas of Palestine, then under Ottoman control. In 1845 he published a short book, “Discourse on the Restoration of the Jews.” A young journalist whom he had befriended, Edgar Allan Poe, praised Noah’s proposal for a Jewish return to the biblical land of Israel as “extraordinary [and] full of novel and cogent thought.”

    Noah did not live to see his dreams fulfilled. After his death in March 1851, nearly 50 years passed before another playwright and journalist resurrected the idea of Jewish political autonomy: Theodor Herzl.

    Herzl’s vision laid the groundwork for the establishment of the state of Israel. Today, he is considered the father of Zionism, with his image paraded on Israeli Independence Day.

    Paradoxically, Noah is remembered today thanks only to the spectacular failure of his American Zion.

    Adam L. Rovner 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. Almost Zion: Remembering a short-lived Jewish state in New York – https://theconversation.com/almost-zion-remembering-a-short-lived-jewish-state-in-new-york-253534

    MIL OSI – Global Reports –

  • MIL-OSI Global: How Trump promotes a radical, unscientific theory about sex and gender in the name of opposing ‘gender ideology extremism’

    Source: The Conversation – USA – By Ina Seethaler, Associate Professor and Director of Women’s and Gender Studies, Coastal Carolina University

    Sexual diversity has been documented in every species in the animal kingdom, including among humans. smartboy10/DigitalVision Vectors via Getty Images

    The Trump administration claims to be rooting out “gender ideology extremism” and “restoring biological truth” in the United States.

    In a January 2025 executive order, President Donald Trump decreed that there are only two genders – male and female – and that anyone who believes differently denies “the biological reality of sex.”

    Yet as a gender studies scholar, I know what the science really says about gender and sex.

    Most researchers in my field, as well as those in other disciplines such as sociology and biology, agree that biological sex is vastly more complicated than solely the two variants of male and female. Sexual diversity has been documented among all animals, including humans.

    Trump’s claim otherwise is itself a gender “ideology” – that is, a set of beliefs and values about gender.

    Sex and gender are not the same thing

    Experts in many disciplines have shown how gender is different from sex. Sex refers to bodily attributes such as genitals, hormones and chromosomes; gender is made up of the norms, roles, behaviors and expectations people are supposed to comply with based on the culture and society they live in.

    As such, gender is socially constructed – that is, defined by a community’s beliefs and rituals. In other words, gender does not follow biology. Instead, people have what’s called a “gender identity” – an internal sense of themselves as masculine, feminine or somewhere in-between.

    There are many ways in which gender and sex don’t necessarily line up.

    Among humans, a conservative estimate by the United Nations suggests that up to 1.7% of the world’s population are intersex, meaning their bodies vary from what has been labeled typical combinations of chromosomes, hormones and genitals.

    Intersex rights advocates have long pushed for medical treatment that reflects this fact, rather than common expectations of the human body. Recognition of gender and sex diversity can significantly reduce the stigma and trauma of being an intersex person.

    In the animal kingdom, female spotted hyenas have a penis. Male seahorses get pregnant.

    It took biologists a long time to figure out that some male animals do things that defy socially determined understandings of masculinity. But once they did, groundbreaking insights into the complexity of evolutionary processes have emerged.

    By labeling the concept of gender identity as an “ideology,” the Trump administration has reduced all people – but especially transgender and nonbinary people – to a belief system, ignoring their complex human identities.

    Don’t tell this dad he can’t give birth. A seahorse couple at the New England Acquarium’s 2009 Pregnant Male Seahorse exhibit.
    Matt Stone/MediaNewsGroup/Boston Herald via Getty Images

    What is gender ideology, really?

    Trump’s executive order on gender is itself based on a gender ideology called “biological determinism” – the belief that there are only two genders and that the sex assigned at birth permanently determines one’s role in society.

    This ideology dismisses research and data that document the complexity of human life. This can have serious social consequences.

    Because adherents of biological determinism see sex and gender as one and the same, they generally want to ban puberty blockers, hormone therapy and other gender-affirming health care for trans youth. These are important and sometimes lifesaving treatments; the Trump administration and other adherents of their ideology dismiss them as medical malpractice.

    The executive order also claims that enforcing a rigid male-female divide will keep women and girls safe because bathrooms and domestic violence shelters become dangerous for women when transgender people are allowed to use them.

    Research has consistently debunked this notion. Privacy and safety problems have not increased due to the legal recognition of transgender individuals. There is no evidence that cisgender women – that is, those assigned female at birth – should fear violence committed against them by transgender women.

    Biology is not destiny

    Much of my academic work has focused on how societies rooted in biological determinism tend to be patriarchal. They are designed by men for the benefit of men, and men hold most positions of authority.

    Patriarchal countries, including the U.S., tend to value masculinity over femininity. Political and religious leaders, the media and social norms suggest women are weaker than men, more emotional and better suited for care work. As a result, they portray women as less effective leaders than men.

    Historically, these societies have limited women’s sphere of influence to the household. That, in turn, prevented them from widespread access to, and success in, economic, religious and political leadership positions, just to name a few.

    U.S. feminists in the 1960s and 1970s protested the idea that a person’s body should dictate what they can and cannot do with their life. Back then, patriarchal beliefs restricted women’s participation in sports – they weren’t allowed to run marathons – and jobs, with fields such as practicing law and surgery essentially off-limits.

    Women in the U.S. also lacked full bodily autonomy for much of the 20th century. Access to contraception was limited, and terminating a pregnancy was illegal.

    By the 1980s, women had succeeded in convincing much of U.S. society that they had the same abilities and should enjoy the same rights as men. By the early 2000s, they had made great strides toward attaining equality in education, career choice and reproductive freedom, among others.

    Trans people began making similar progress in the 2010s.

    Moving backward

    As the Trump administration reverts to a simplistic interpretation of sex and gender, public debate on these basic social and political rights is reemerging.

    There is legislation at the state and federal level banning transgender women athletes from participating in sports, bills that would make it a crime to identify as transgender and challenges to women serving in combat roles in the U.S. military.

    Abortion, established as a constitutional right in 1973, had that constitutional protection reversed in 2022. Abortion is now outlawed in 12 states; others severely limit the ability to get the procedure.

    Trump signs the ‘No Men in Women’s Sports’ executive order barring transgender women from women’s sports on Feb. 5, 2025. It was his third order targeting transgender people.
    Andrew Harnik/Getty Images

    To enforce Trump’s “gender ideology” executive order, the Department of Veterans Affairs is phasing out gender-affirming health care. The Centers for Disease Control and Prevention temporarily scrubbed data about women’s health that has been vital in raising public awareness and fueling ongoing research into aspects of women’s health, such as safe forms of contraception.

    The administration’s policies and ideas are ingrained in a gender ideology that predates the feminist movement of the mid-20th century.

    When asked in court during proceedings in lawsuits challenging the constitutionality of Trump’s executive order, lawyers representing the Trump administration have repeatedly failed to define what exactly the administration is referring to with the term “radical gender ideology.”

    One lawyer, when prompted by a judge, replied that he was “loathe to speculate” what the president means by the phrase.

    In my assessment, the administation’s inability to define “gender ideology” is a meaningful signal. The Trump administration is pursuing, in essence, its own gender ideology masked as anti-gender ideology.

    Ina Seethaler serves on the boards of the Palmetto State Abortion Fund and the Family Justice Center of Horry and Georgetown Counties.

    – ref. How Trump promotes a radical, unscientific theory about sex and gender in the name of opposing ‘gender ideology extremism’ – https://theconversation.com/how-trump-promotes-a-radical-unscientific-theory-about-sex-and-gender-in-the-name-of-opposing-gender-ideology-extremism-250552

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Romford builder banned for Covid loan abuse agrees to repay money he should never have claimed

    Source: United Kingdom – Executive Government & Departments

    Press release

    Romford builder banned for Covid loan abuse agrees to repay money he should never have claimed

    Construction director previously disqualified as a director signs compensation agreement

    • Ioan Marcu overstated his company’s turnover to receive £50,000 in Bounce Back Loan funds when he was only entitled to little more than £11,000 

    • Marcu was handed a decade-long director ban for his misconduct following Insolvency Service investigations 

    • The 38-year-old has now signed a formal document in which he agrees to repay the money he secured 

    A builder who was disqualified as a company director for Covid loan abuse has now agreed to repay all the money the company was not entitled to claim. 

    Ioan Marcu inflated his Imbusi Ltd company’s turnover to receive a £50,000 Bounce Back Loan in 2020, the maximum allowed under the scheme. 

    Marcu was disqualified as a director for 10 years in January 2025 following Insolvency Service investigations. 

    The 38-year-old, of Lindfield Road, Romford, has now signed an agreement committing him to repay more than £38,000 – the total amount the company should never have received. 

    Ann Oliver, Chief Investigator at the Insolvency Service, said: 

    Ioan Marcu significantly overstated his company’s turnover in order to receive the maximum amount of money businesses were entitled to under the Bounce Back Loan Scheme. 

    This was clearly an inaccurate declaration which has resulted in him being banned as a director until the start of 2035. 

    Marcu has now signed a compensation undertaking which legally requires him to pay back all the public money the company should never have received in the first place.

    Imbusi was incorporated in August 2014 with Marcu as its sole director. 

    Marcu applied to the bank for the £50,000 Bounce Back Loan in July 2020, claiming Imbusi’s turnover was £280,000 – an over-estimate of more than £230,000. 

    Insolvency Service analysis of Imbusi’s accounts revealed the company was only entitled to a loan of £11,451. 

    The Secretary of State for Business and Trade accepted a compensation undertaking from Marcu on Thursday 24 April, in which he has agreed to repay £38,549 in monthly instalments. 

    His disqualification undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court. 

    Imbusi went into liquidation in July 2022 with liabilities of more than £63,000. 

    Further information

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Farmers and Merchants Bancshares, Inc. Reports Earnings of $1.2 Million, or $0.37 per Share, for the Three Months Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md., April 29, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the quarter ended March 31, 2025 was $1.2 million, or $0.37 per common share (basic and diluted), compared to $1.2 million, or $0.39 per common share (basic and diluted), for the same period in 2024. The Company’s return on average equity during the quarter ended March 31, 2025 was 8.22% compared to 9.40% for the same period in 2024. The Company’s return on average assets during the quarter ended March 31, 2025 was 0.57% compared to 0.61% for the same period in 2024.

    Net interest income was $5.5 million for the quarter ended March 31, 2025, an increase of $321 thousand over the $5.2 million reported for the same period in 2024. The increase was due to a 35 basis point increase in the yield on earning assets to 5.03% for the three months ended March 31, 2025 compared to 4.68% for the same period in 2024. Average earning assets increased $10.6 million to $790.6 million as of March 31, 2025. Average loans increased to $593.7 million for the quarter ended March 31, 2025, an increase of $59.1 million over the $534.6 million for the quarter ended March 31, 2024. The combination of higher yields on earning assets plus higher average earning asset balances was the primary reason for the increase. Offsetting the increase in interest income was the higher cost of funds in 2025. The average interest rate paid on interest bearing liabilities was 2.70% for the three months ended March 31, 2025, compared to 2.48% for the same period in 2024. Average interest bearing liabilities increased to $650.0 million, an increase of $23.0 million when compared to the $627.0 million reported as of March 31, 2024.

    A provision for credit losses of $30 thousand was recorded for the quarter ended March 31, 2025 compared to no provision for credit loss for the quarter ended March 31, 2024. The Company’s loan portfolio continues to perform at a high level with just four non-accrual loans totaling $2.6 million and two loans more than 30 days delinquent totaling $577 thousand at March 31, 2025.

    Noninterest income increased slightly to $514 thousand for the quarter ended March 31, 2025 compared to $504 thousand for the same period in 2024. Mortgage banking income increased $24 thousand, income on bank owned life insurance increased $15 thousand, gains on the sale of investment securities increased $94 thousand, and other fees and commissions increased $37 thousand. The increases were offset by a decrease in service charges of $30 thousand and a decrease in insurance proceeds of $143 thousand due to the non-recurring receipt of insurance proceeds during the first quarter of 2024 in connection with storm damage to the Bank’s office building in Upperco, Maryland.

    Noninterest expense was $386 thousand higher for the quarter ended March 31, 2025 when compared to the same period in 2024. This increase was due primarily to a $175 thousand increase in occupancy and furniture and equipment costs, a $101 thousand increase in FDIC premiums, a $33 thousand increase in ATM related costs, and a $96 thousand increase in other expenses. The increase in other expenses was due primarily to legal fees incurred for stockholder matters and additional costs related to the Company’s captive insurance company subsidiary. The Bank’s FDIC assessment expense increased due to higher asset size and higher FDIC assessment rates. The increase in occupancy and furniture and equipment was due primarily to depreciation on the renovations and new equipment for the Bank’s Upperco, Maryland location which was placed in service at the end of the first quarter of 2024 and the Bank’s new Towson, Maryland location that was placed in service during the second quarter of 2024. The increase in ATM related expenses was due to vendor price increases.

    Income taxes decreased by $30 thousand during the quarter ended March 31, 2025 when compared to the same period in 2024 due to lower earnings before taxes. The effective tax rate decreased to 21.3% for the quarter ended March 31, 2025 from 22.1% for the same period last year due to an increase in the amount of nontaxable income included in pretax income year over year.

    Total assets were $817.6 million at March 31, 2025 compared to $844.6 million at December 31, 2024. Compared to December 31, 2024, total loans, net of the allowance for credit losses, increased $17.1 million to $600.0 million at March 31, 2025. Offsetting the increase in loans was a decrease in cash and cash equivalents of $42.0 million. The decrease was primarily due to the funding of new loans of $17.1 million, a decrease in deposits of $23.2 million, and the repayment of $5.0 million of Federal Home Loan Bank borrowings. Deposits decreased to $735.6 million at March 31, 2025 from $758.8 million at December 31, 2024. The Company’s tangible equity was $51.5 million at March 31, 2025 compared to $49.2 million at December 31, 2024.

    The book value of the Company’s common stock increased to $18.44 per share at March 31, 2025 from $17.77 per share at December 31, 2024. Book value per share at March 31, 2025 was inclusive of the $15.6 million unrealized loss, net of income taxes, on the Bank’s available for sale (“AFS”) investment portfolio as a result of higher interest rates. Changes in the market value of the AFS investment portfolio, net of income taxes, are reflected in the Company’s equity, but are not included in the income statement. The AFS investment portfolio is comprised of 72% government agency mortgage backed securities which are fully guaranteed, 22% investment grade non agency mortgage backed securities, less than 1% investment grade corporate and municipal bonds, and 5% subordinated debt of other community banks. There is no indication of credit deterioration in any of the bonds and we intend to hold these investments to maturity, so no actual losses are anticipated. The unrealized loss in the AFS investment portfolio did not impact regulatory capital because the Bank elected many years ago to not include changes in the market value of the AFS investment portfolio in the calculation of regulatory capital regardless of whether they are positive or negative.

    Our Federal Home Loan Bank facility, other borrowing lines available, unpledged securities, brokered deposit access, and cash and cash equivalents provided us with access to approximately $337.8 million of liquidity as of March 31, 2025.

    Gary A. Harris, President and CEO, commented “Our loan growth remains strong with a $17.1 million increase in net loans over the past quarter. We previously announced the opening of the new Towson Commercial Banking Office. Since its inception in June 2024, the office has produced over $29 million in new commercial loans and $8 million in new relationship deposits through March 31, 2025. We believe that this new office will be instrumental in both loan and deposit growth in 2025. Our asset growth along with the Federal Reserve’s three interest rate decreases over the past seven months have led to positive gains in our net interest margin. Asset quality remains high and our liquidity position remains strong. We continue to believe that Farmers and Merchants is well positioned to grow earnings in 2025.”

    About the Company

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional Maryland branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    Forward-Looking Statements

    The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

     
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Balance Sheets
    (Unaudited)
     
    Dollars in thousands except per share and share data
     
      March 31, December 31,
        2025       2024  
         
    Assets  
         
    Cash and due from banks $ 21,779     $ 63,962  
    Federal funds sold and other interest-bearing deposits   918       697  
    Cash and cash equivalents   22,697       64,659  
    Certificates of deposit in other banks   100       100  
    Securities available for sale, at fair value   123,780       125,713  
    Securities held to maturity, at amortized cost less allowance for credit    
    losses of $62.5 thousand and $35.6 thousand   21,135       20,499  
    Equity security, at fair value   530       518  
    Restricted stock, at cost   715       921  
    Mortgage loans held for sale   240       157  
    Loans, less allowance for credit losses of $4.3 million and $4.3 million   600,048       582,993  
    Premises and equipment, net   7,316       7,349  
    Accrued interest receivable   2,376       2,439  
    Deferred income taxes, net   7,246       7,606  
    Other real estate owned, net   1,176       1,176  
    Bank owned life insurance   15,429       15,324  
    Goodwill and other intangibles, net   7,024       7,026  
    Other assets   7,746       8,163  
    Total assets $ 817,558     $ 844,643  
         
    Liabilities and Stockholders’ Equity    
         
    Deposits    
    Noninterest-bearing $ 104,379     $ 107,197  
    Interest-bearing   631,219       651,609  
    Total deposits   735,598       758,806  
    Securities sold under repurchase agreements   5,482       5,564  
    Federal Home Loan Bank of Atlanta advances   –       5,000  
    Long-term debt, net of issuance costs   10,858       11,329  
    Accrued interest payable   766       1,003  
    Other liabilities   6,306       6,669  
    Total liabilities   759,010       788,371  
    Stockholders’ equity    
    Common stock, par value $.01 per share,    
    authorized 5,000,000 shares; issued and outstanding    
    3,175,347 shares in 2025 and 3,166,653 shares in 2024   32       32  
    Additional paid-in capital   31,294       31,136  
    Retained earnings   42,777       41,613  
    Accumulated other comprehensive loss   (15,555 )     (16,509 )
    Total stockholders’ equity   58,548       56,272  
    Total liabilities and stockholders’ equity $ 817,558     $ 844,643  
         
         
     
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Statements of Income
    (Unaudited)
     
    Dollars in thousands except per share data
      Three Months Ended March 31,
        2025     2024  
         
    Interest income    
    Loans, including fees $ 8,366   $ 6,882  
    Investment securities – taxable   1,051     1,579  
    Investment securities – tax exempt   156     137  
    Federal funds sold and other interest earning assets   313     468  
    Total interest income   9,886     9,066  
         
    Interest expense    
    Deposits   4,249     3,101  
    Securities sold under repurchase agreements   17     23  
    Federal Home Loan Bank advances   12     13  
    Federal Reserve Bank advances   –     622  
    Long-term debt   113     134  
    Total interest expense   4,391     3,893  
    Net interest income   5,495     5,174  
         
    Provision for credit losses   30     –  
         
    Net interest income after provision for credit losses   5,465     5,174  
         
    Noninterest income    
    Service charges on deposit accounts   165     195  
    Mortgage banking income   29     5  
    Bank owned life insurance income   105     90  
    Fair value adjustment of equity security   9     (4 )
    Gain on sale of investment securities   94     –  
    Gain on insurance proceeds, net   –     143  
    Other fees and commissions   112     75  
    Total noninterest income   514     504  
         
    Noninterest expense    
    Salaries   2,207     1,976  
    Employee benefits   382     606  
    Occupancy   328     246  
    Furniture and equipment   335     242  
    Professional services   173     205  
    Automated teller machine and debit card expenses   168     135  
    Federal Deposit Insurance Corporation premiums   199     98  
    Postage, delivery, and armored carrier   78     82  
    Advertising   56     48  
    Other real estate owned expense   5     3  
    Other   567     471  
    Total noninterest expense   4,498     4,112  
         
    Income before income taxes   1,481     1,566  
    Income taxes   316     346  
    Net income $ 1,165   $ 1,220  
         
    Earnings per common share – basic $ 0.37   $ 0.39  
    Earnings per common share – diluted $ 0.37   $ 0.39  
         
         
    Farmers and Merchants Bancshares, Inc.
    Selected Consolidated Financial Data
    (Unaudited)
    Dollars in thousands except per share data
           
      As of or For the Three Months Ended March 31,
        2025       2024       2023  
           
    OPERATING DATA      
           
    Interest income $ 9,886     $ 9,066     $ 7,051.53  
    Interest expense   4,391       3,892       1,395  
    Net interest income   5,495       5,174       5,657  
    Provision for credit losses   30       –       (270 )
    Net interest income after provision for credit losses   5,465       5,174       5,927  
    Noninterest income   514       504       382  
    Noninterest expense   4,498       4,112       3,757  
    Income before income taxes   1,481       1,566       2,552  
    Income taxes   316       346       651  
    Net income $ 1,165     $ 1,220     $ 1,901  
           
    PER SHARE DATA      
           
    Net income (Basic and diluted) $ 0.37     $ 0.39     $ 0.62  
    Dividends $ 0.00     $ 0.00     $ 0.00  
    Book value $ 18.44     $ 17.03     $ 16.53  
           
    KEY RATIOS      
           
    Return on average assets   0.57 %     0.61 %     1.05 %
    Return on average equity   8.22 %     9.40 %     15.49 %
    Efficiency ratio   75.23 %     72.42 %     59.55 %
    Dividend payout ratio   0.00 %     0.00 %     0.00 %
    Net yield on interest-earning assets   2.81 %     2.69 %     3.24 %
    Tier 1 capital leverage ratio   9.48 %     9.39 %     9.97 %
           
           
     
    Farmers and Merchants Bancshares, Inc.
    Selected Consolidated Financial Data
    (Unaudited)
    Dollars in thousands except per share data
           
      As of or For the Three Months Ended March 31,
        2025       2024       2023  
           
    AT PERIOD END      
           
    Total assets $ 817,558     $ 794,593     $ 722,679  
    Gross loans   604,352       541,398       525,485  
    Cash and cash equivalents   22,697       25,633       9,566  
    Securities   145,569       182,325       146,300  
    Deposits   735,598       655,978       637,309  
    Borrowings   10,858       71,742       24,625  
    Stockholders’ equity   58,548       53,077       50,757  
           
    SELECTED AVERAGE BALANCES      
           
    Total assets $ 816,760     $ 799,841     $ 723,106  
    Gross loans   593,653       534,566       525,516  
    Cash and cash equivalents   26,648       37,224       8,719  
    Securities   169,215       208,134       169,873  
    Deposits   634,274       550,010       501,185  
    Borrowings   4,946       69,551       36,124  
    Stockholders’ equity   54,127       51,928       49,071  
           
    ASSET QUALITY      
           
    Nonperforming assets $ 3,789     $ 1,898     $ 1,898  
           
    Nonperforming assets/total assets   0.46 %     0.24 %     0.26 %
           
    Allowance for credit losses/total loans   0.71 %     0.80 %     0.87 %
           
    Contact: Mr. Gary A. Harris
    President and Chief Executive Officer
    (410) 374-1510, ext. 1104
       

    The MIL Network –

  • MIL-OSI Banking: Chang Yong Rhee: Navigating political uncertainty while maintaining independence

    Source: Bank for International Settlements

    Thank you, Mr. Fernandez, for that generous introduction. And good evening to the distinguished guests who joined the dinner tonight, including President Lateef and Mr. Euywhan Kim, Korean Consul General in New York. Your warm welcome means more than I can express.

    For over a century, the Foreign Policy Association has been a leader in promoting international collaboration through public dialogue and education. Its role as a nonpartisan forum for intellectual discourse is more important than ever today, as the world experiences a rising political divide, geopolitical tensions, and global fragmentation.

    I’m deeply humbled and honored to receive this award from the FPA, and especially feel undeserving when I consider past awardees like Chairman Volcker, President Trichet, Managing Director Georgieva, and many others. Also, sharing this award ceremony with the Secretary-General of the OECD, the Honorable Mathias Cormann, makes it even more special.

    On a personal note, this medal holds a very special meaning within my family. When I got married, I made a joke to my wife, saying, “As I’ll devote my whole life to promoting world peace, you need to take care of everything else for our family.” I thank the FPA for vindicating my joke and justifying the many evenings I’ve spent away from my wife and children. 

    Acknowledging Global and Korean Headwinds

    Currently, we are facing heightened uncertainties. Globally, despite some easing of post-pandemic inflation, trade tensions are intensifying and geopolitical risks persist, reshaping supply chains and deepening global fragmentation, or reglobalization. They have triggered the global financial market turbulence and slowed down global growth. My understanding is that the IMF is going to consider lowering its world economic outlook significantly tomorrow.

    Korea is not an exception. As an export-driven economy, it is particularly vulnerable to these external headwinds. Tariffs directly reduce our exports. And, given our deep integration with key supply chain partners, our semiconductor production in Vietnam, electronics and automobile manufacturing in Mexico, and battery production in Canada will all likely be significantly affected. At the same time, weak demand from China-which accounts for over 19% of Korea’s exports-is expected to further weigh on our economy.

    To make matters worse, current challenges have been especially difficult for Koreans. As you may know, political uncertainty intensified following the former president’s declaration of martial law late last year. After about five months of turbulence, we now hope that the Constitutional Court’s recent upholding of the impeachment, along with the upcoming presidential election in June, will help settle this uncertainty behind us.

    Nevertheless, “Every cloud has a silver lining.” These political events also demonstrated the powerful resilience of Korean democracy.

    There had been moments of unrest and deep confrontation among citizens with differing political views. However, the situation was resolved peacefully and constitutionally, and now we are advancing toward the presidential election.

    Political Polarization and Central Bank Independence

    One thing that I learned as a central banker during this period of political turmoil is the importance of central bank independence-but from a different angle.

    We usually understand central bank independence to mean freedom from government interference or fiscal dominance. However, navigating through recent political challenges has made it clear to me that independence from politics is much more vital.

    This is particularly true in deeply divided political environments such as Korea right now, where the presidency and parliamentary majority are decided by only a narrow margin of the popular vote.

    Governments are appointed by an elected power. By this very nature, during times of heightened political tension, any policy decisions and announcements by governments are often filtered through a political lens and struggle to gain broad trust.

    In contrast, a central bank, as Paul Tucker describes it, is an “Unelected Power”-more free from political preference and generally perceived as politically neutral. This allowed us to communicate balanced and apolitical assessments of economic conditions, such as the economic impact of political instability, along with policy recommendations when they were most needed.

    Independence with Flexibility

    Of course, as Paul Tucker rightly points out in his book, central banks must not exploit the privileges that come with their independence.1 He argues that central banks should strictly confine themselves to a narrow interpretation of their mandate, which includes price stability and political neutrality in general.

    I agree with the spirit of that argument. But I also believe that some degree of flexibility is necessary-particularly in unexpected extreme situations, such as the political instability that Korea just experienced or crises like the pandemic.

    Let me recall a conversation I had with a central bank governor from emerging Asia when I served as the IMF’s Asia-Pacific Department Director. As many of you know, avoiding fiscal deficit monetization is generally considered one of the non-negotiable mandates of central banks.

    However, in 2020, at the height of the COVID-19 crisis, that central bank took the unusual step of purchasing government bonds in the primary market under the spirit of shared burden with the government. As the governor explained to me, it was seen as inevitable to help those suffering from COVID-19, given the unusually large need for fiscal support, the limited financial market depth, and the importance of protecting sovereign credit rating.

    Fortunately, the temporary deviation from text book central bank principles turned out to be a happy ending: the country navigated the COVID crisis without damaging its creditworthiness and returned to its pre-pandemic deficit target within two years as planned.

    Fundamental concerns about deficit monetization remain valid. However, this case demonstrates how limited, temporary policy flexibility may be necessary depending on the specific nature of economic crisis and the maturity of capital markets.

    Likewise, while leading the central bank through recent political turmoil, I often faced situations where my statements could be misinterpreted as political. For example, when both parties held opposing views on fiscal policy during the impeachment process and incoming election, discussing fiscal stimulus risked appearing partisan. Yet as central bank governor, I could not remain silent on its necessity, for two reasons.

    First, after the martial law declaration, domestic demand was falling faster than expected. Some degree of fiscal stimulus was needed to alleviate a sharp decline in major market players’ economic forecasts early in the year. Second, a bipartisan fiscal package seemed to be the best tool to send the message to global investors that Korea’s economy operates independently of political divisions and to protect our credit rating.

    While my public advocacy for fiscal stimulus created some controversy over political neutrality as expected, I believe that my decisions will stand the test of time. Yes, central bankers must be politically neutral, but as Keynes said of his mentor Marshall, economists need to be “sometimes as near the earth as a politician.”

    U.S.-Korea Relationship & Closing

    Before I close, I would like to take a moment to highlight the enduring importance of the U.S.-Korea relationship, especially in the presence of many distinguished American leaders here tonight.

    Since Korea’s liberation in 1945, the U.S. and Korea have stood together as trusted allies, sharing common values, such as freedom, democracy, peace, and prosperity.

    I mentioned the resilience of Korean democracy earlier in my remarks, and indeed, the U.S. has always remained alongside us throughout our democratic journey. At a critical crossroads in history, it helped guide Korea away from communism and toward democracy. Especially for the Bank of Korea, it also provided instrumental support in shaping our legal foundations-most notably, the Bank of Korea Act.

    Despite the leadership transition and the complex geo-economic landscape in Korea, I remain confident that the U.S.–Korea relationship will be taken to the next level. I believe the ongoing support of those in this room will be truly invaluable.

    Once again, I offer my deepest thanks to the FPA for this honor, and I wish the FPA continued flourishing in the years to come.

    Thank you.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: New powers already tackling anti-social behaviour in Leicester

    Source: City of Leicester

    NEW powers to help the city council keep Leicester’s public spaces free from anti-social behaviour are already having a positive impact on the city centre.

    Since the beginning of April, a team of city wardens and community safety officers has been patrolling the city centre to raise awareness of the new Public Spaces Protection Order (PSPO) – a suite of new powers that allows the council to take swift enforcement action against those causing a nuisance.

    Easy to spot in their branded uniforms, the authorised officers have spoken to hundreds of people in a month-long period of engagement and education, with their high-profile presence already helping to address nuisance behaviour in the city centre.

    In the past month, the team has issued more than 100 verbal warnings relating to begging in the city centre. Officers also dealt with 49 unauthorised charity collections, 220 bike and scooter offences, 73 incidents of problem street drinking, 79 incidents of unauthorised amplification and 82 unpermitted structures, such as gazebos.

    Everyone spoken to has been warned that from Thursday (1 May), anyone breaching the PSPO risks facing a fixed penalty notice of £100, rising to £1,000 if prosecution leads to a conviction.

    People found begging in the city centre have been signposted to services offering food and shelter, while those riding scooters and e-bikes have been given leaflets, advising them that illegal machines will be confiscated by the police as part of their ongoing Op Pedalfast campaign.

    City Mayor Peter Soulsby said: “Every day for the past four weeks, our city wardens and community safety officers have been out on the streets, making sure that everyone using the city centre knows that nuisance behaviour will not be tolerated in Leicester.

    “And the good news is, the message seems to be getting through.

    “People are coming up to our officers to tell them that their presence is making a difference, and that problems associated with street drinking or begging, or the irresponsible use of e-bikes and scooters, appear to be receding. That sentiment is also reflected in the feedback we’ve received, and we’ve certainly noticed fewer complaints about the city centre in the past four weeks.

    “From 1 May, we’ll be reinforcing that message by introducing enforcement.

    “Anyone breaching the Public Spaces Protection Order from Thursday will be committing a criminal offence and risks facing a £100 fine.

    “I hope that we don’t need to issue any fixed penalty notices on Thursday. My hope is that the risk of a fine is enough to rid Leicester of the sort of anti-social behaviour that’s been spoiling people’s enjoyment of our historic city centre for too long.”

    Introduced on 2 April, the PSPO covers the city centre within the inner ring road, together with the area around Leicester railway station, the entirety of New Walk, and the area between London Road and Regent Road as far as Granville Road.

    Within the area covered by the PSPO, an individual is in breach of the order – and committing a criminal offence – if they cause a nuisance by:

    • begging
    • collecting for charity without the council’s permission
    • using an e-bike, bike, skateboard or scooter irresponsibly
    • consuming alcohol when asked to stop by an authorised officer
    • using amplification equipment without authorisation
    • putting up a gazebo or other temporary structure without authorisation

    The full order can be seen at leicester.gov.uk/pspo

    Public Spaces Protection Orders were introduced by the government as part of the Anti-Social Behaviour, Crime & Policing Act 2014 and can be used by councils to target a range of issues in a defined public area.

    Once adopted, each PSPO is valid for three years.

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Cambodia, KOICA and WFP launch initiative to boost national homegrown school feeding programme

    Source: World Food Programme

    PHNOM PENH, CAMBODIA – The Royal Government of Cambodia, through the Ministry of Education, Youth and Sport (MoEYS), in partnership with the Korea International Cooperation Agency (KOICA) and the United Nations World Food Programme (WFP), has launched a US$ 10 million initiative from 2025 to 2029 to accelerate the expansion of Cambodia’s national homegrown school feeding programme.

    The programme currently reaches 190,000 children across 686 schools. The renewed support from South Korea builds on the achievements of Phase I (2020—2024) and will enable MoEYS and WFP to provide hot, nutritious meals to 133,300 schoolchildren across 428 schools. These schools will be progressively integrated into the national programme with full government ownership and management expected by 2028. 

    “The Ministry is deeply grateful for the continued support from the Government of the Republic of Korea, KOICA, and WFP,” said H.E. Hang Chuon Naron, Deputy Prime Minister and Minister of Education, Youth and Sport. “Through this programme, we are not only improving access to nutritious food but also investing in Cambodia’s future by building a stronger, more resilient education system that supports our national development goals.” 

    The Royal Government of Cambodia has shown strong leadership and commitment to school meals. In August 2024, it approved the School Feeding Policy, a landmark step that formalized the programme’s role in contributing to education, nutrition, agriculture and social protection. This approach aligns closely with Cambodia’s broader human capital development agenda and the priorities of the Pentagonal Strategy—building a healthier, more educated, and resilient generation.

    “We are honoured to continue this important collaboration with the Royal Government of Cambodia and WFP,” said Moon Jung Choi, Country Director of KOICA Cambodia Office. “This second phase of support reaffirms the Government of Republic Korea’s commitment to inclusive and sustainable development for the Cambodian people by supporting national systems that deliver lasting improvements in education, nutrition and rural livelihoods.”

    The national school feeding programme adopts a home-grown approach, linking education and nutrition with local agriculture by sourcing food from smallholder farmers. In a country where over half of the population relies on agriculture, this approach stimulates local economies, strengthens food systems and serves as a safety net for vulnerable families affected by recurrent shocks.

    “WFP is proud to continue supporting Cambodia’s journey towards a nationally owned, sustainable school feeding programme,” said Claire Conan, WFP Representative in Cambodia. “The renewed partnership with KOICA and MoEYS is a powerful example of how partnership can improve children’s well-being, enhance learning, and build more resilient communities.”

    In addition to meal provision, the programme focuses on capacity strengthening, infrastructure upgrades and institutional development at national, sub-national, and school levels. These efforts are designed to enable MoEYS to take ownership, while ensuring the quality, efficiency, and sustainability of the programme. 

    #                                  #                                  #

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies, building prosperity and supporting a sustainable future for people recovering from conflict, disasters and the impact of climate change.

    MIL OSI United Nations News –

  • MIL-OSI: Locus Technologies Releases the First Fully Integrated Software Suite for Water Quality, Water Compliance, and Water Sustainability Programs

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Locus Technologies, the sustainability and Environmental Health and Safety (EHS) compliance software leader, announced the release of Locus Water, the first end-to-end, AI-ready software that has been future-proofed for the water utility industry. The suite is uniquely built upon state-of-the-art multitenant cloud, metadata-driven software-as-a-service (SaaS) architecture, empowering water and wastewater utilities to adapt to shifting priorities and address current demands without redundant data entry, compatibility issues, or technical gaps.

    “Utilities have struggled with fragmented, outdated, or single-purpose systems for too long,” said Neno Duplan, founder and CEO of Locus Technologies. “That’s why Locus Water is a game-changer for water pros trying to keep up with everything from DMRs, CCRs, PFAS and compliance to cyber security and customer outreach. We’re unifying the entire water lifecycle – from source to discharge and from metrics to quality.”

    Locus Water is comprised of eight optional and unified software apps: Drinking Water Compliance, Backflow Prevention, Industrial Pretreatment, Water Metrics, Stormwater Inspections, Test Equipment Management, Watershed Maintenance, and Customer Complaints to help water professionals efficiently leverage the data generated by diverse water initiatives for tracking, tasking, and reporting. Additional purpose-built apps are slated for release after the completion of ongoing beta tests with several water districts. As part of the software release, Locus also announced an incentive program to help water utilities quickly migrate to the new technology.

    “Water is the world’s most precious resource, and it warrants technology that rises to that level of significance,” said Duplan. “Locus Water enables true digital transformation and raises the bar for the entire industry.”

    All applications in the Locus Water collection support data capture from mobile, IoT devices, and API connectors, and they share a common user interface, a workflow engine, a reporting dashboard, GIS, Single Sign-On (SSO) and enterprise-grade security, and configuration tools for power users to adjust the software. The configurable nature of the metadata-driven architecture positions Locus clients to quickly respond to regulatory changes, emerging contaminants, and EHS compliance and ESG/CSRD requirements from the same interface.

    To learn more about Locus Water and its water quality and analytical software that has been used by municipal water districts across the U.S. for more than a decade, please visit http://www.locustec.com.

    About Locus Technologies
    Locus Technologies, the global environmental, social, governance (ESG), sustainability, and EHS compliance software leader, empowers companies of every size and industry to be credible with ESG reporting. From 1997, Locus pioneered enterprise software-as-a-service (SaaS) for EHS compliance, water management, and ESG credible reporting. Locus apps and software solutions improve business performance by strengthening risk management and EHS for organizations across industries and government agencies. Organizations ranging from medium-sized businesses to Fortune 500 enterprises, such as Sempra, Corteva, Chevron, DuPont, Chemours, San Jose Water Company, The Port Authority of New York and New Jersey, Port of Seattle, and Los Alamos National Laboratory, have selected Locus. Locus is headquartered in Mountain View, California. For further information regarding Locus and its commitment to excellence in SaaS solutions, please visit http://www.locustec.com or email info@locustec.com.

    The MIL Network –

  • MIL-OSI USA News: MEMO: First 100 Days Economy

    Source: The White House

    TO: White House Communications Staff
    FROM: Council of Economic Advisers Staff
    SUBJECT: First 100 Days Economy Memo

    Jobs Statistics:

    • President Trump has created 345,000 jobs since taking office in January.
      • 188,000 (54%) of these were in non-government and government-adjacent sectors. This is a dramatic improvement from the last two years of the Biden Administration, when three-fourths of all new jobs were in government or government-adjacent sectors.
        • 2,000 of which were mining and logging jobs.
        • 27,000 of which were construction jobs.
        • 9,000 manufacturing jobs were created (compared to the 6,000 manufacturing jobs lost per month from Jan 2023 to Dec 2024).
      • At the same time that there were large private sector job gains, 15,000 federal government jobs were cut.
    • The labor force participation rate for those without a high school diploma is up by 0.7% since President Trump took office.
    • The veteran unemployment rate is down from 4.2% in January to 3.8% in March.
    • 228,000 jobs were created in March alone, well above expectations.
      • This was the fourth best month in the last two years for private payroll growth.
    • Remote work among federal employees has fallen over 16 percentage points from March last year to March this year, showcasing the success of President Trump’s initiative to bring federal workers back to the office.
      • Federal telework numbers are now in-line with the private sector.

    Inflation Statistics:

    • Prescription drug prices are down over 2% since President Trump took office. 
    • Last month’s drop in the price of prescription drugs was the largest ever recorded.
    • Gasoline prices, as measured by the Consumer Price Index (CPI), are down 7% since President Trump took office.
    • Energy prices are down 2% since President Trump took office.
    • Wholesale egg prices down are about 50% since President Trump took office. Most consumers have seen relief in prices on the shelf, but all consumers should see it within the next month or two.
    • February inflation (the month prior to the most recent data) showed the smallest annual increase in core inflation in over four years (since March 2021).
    • Both of the last two CPI inflation prints came in below expectations.
    • Last month’s (March) decline was only the second monthly decline in inflation (CPI) in the last two-and-a-half years.
    • These price declines are in contrast to the persistently high inflation under President Biden, which reached the highest annual rate in the past 40 years. After suffering for years under Biden Administration inflation, consumers are now getting welcome relief. On Biden’s watch, grocery prices rose 23%, and energy prices rose 34%.
    • As a result of biting inflation, real wages in President Biden’s term were down about 2.4%.
    • Moreover, in the most recent inflation print from March, airfare, used motor vehicles, and motor insurance all saw price decreases.
    • Prices for wholesale goods fell nearly 1% last month and prices for wholesale services fell 0.2% last month, which will eventually lead to lower consumer prices.
    • Last month, retail egg price inflation continued to slow.

    Misc. Economic Statistics:

    • Real average hourly earnings for middle- and low-income workers are up 0.4% and up 1% for workers in the manufacturing sector since President Trump took office.
    • The automotive sector is growing: under President Trump, we already had the biggest one-month increase in auto sales in March in more than a year.
    • Mortgage rates have declined roughly four-tenths of a percentage point since President Trump took office.
      • Assuming the most recent median home price in the U.S., a new homebuyer making a 20% down payment on a 30-year mortgage would save roughly $32,400 over the course of the loan, or about $1,080 per year.
    • Industrial production was at the seventh-highest monthly level ever recorded in March. The only higher monthly levels occurred during the first Trump Administration in 2018 and in February of this year.
    • Since the beginning of the Trump Administration, at least $5 trillion in new investment in the U.S. has been pledged from both foreign governments and private companies.

    Economic Policy Wins:

    • Upon taking office, President Trump immediately blocked all unfinalized Biden-era rules, saving Americans over $180 billion — $2,100 per family of four over the next decade — and launched a bold, multi-agency effort to roll back existing federal regulations that drive up the cost of living. This effort is projected to yield significant cost savings in the coming months, including the EPA’s rollback of tailpipe emission rules for light-duty and medium-duty vehicles ($667 billion in total savings) and the Department of Transportation’s latest Corporate Average Fuel Economy (CAFE) standards ($88 billion in savings). These two efforts alone yield $755 billion in total savings or over $8,800 per family of four over the next decade. The combined savings from all of these actions equal just over $935 billion or nearly $11,000 per family of four over the coming decade.
    • The Trump Administration has implemented an aggressive 10-to-1 deregulatory initiative, which requires that whenever an agency proposes a new rule or guidance document, it must eliminate 10 existing rules or guidance documents. This effort builds on the successful deregulatory initiative introduced in President Trump’s first term, which required the repeal of at least two existing regulations for each new rule, and in practice eliminated 5.5 rules for each new significant rule.
    • To date, President Trump has issued over 20 significant deregulatory presidential actions (i.e., executive orders, presidential memoranda, and presidential proclamations).

    Charts:

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Simpson Applauds President Trump’s First 100 Days

    Source: US State of Idaho

    Rep. Simpson Applauds President Trump’s First 100 Days

    Washington, April 29, 2025

    WASHINGTON— Today, Idaho Congressman Mike Simpson released the following statement in response to the first 100 days of the Trump administration
    “In the first 100 days of the Trump administration, President Trump has delivered promise after promise to make America safer, more prosperous, and stronger,” said Rep. Simpson. “From securing our southern border to reducing regulations and restoring government transparency, President Trump has followed through for the American people. I have often said that America’s escalating debt crisis is the greatest existential threat to our future as a nation. Addressing this crisis requires strong leadership—and President Trump is our best hope to restore fiscal responsibility and put our country back on track. I have remained optimistic since January 20th, and I am confident that the first 100 days are just the beginning of what the next four years will bring.”

    MIL OSI USA News –

  • MIL-OSI: Aemetis to Benefit From EPA’s Approval of 15 Percent Ethanol Blend

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced today that the U.S. Environmental Protection Agency (EPA) issued a waiver allowing a 15 percent blend of ethanol (E15) to continue to be sold after May 1st which will benefit the company through increased demand and sales of the renewable fuel nationwide. The average blend of ethanol in the U.S. in 2024 was 10.4% and 14.2 billion gallons. The adoption of E15 allows up to a 50% increase in the market for ethanol in the U.S.

    “The EPA’s action allowing nationwide E15 sales to continue is a significant step toward increasing the demand for ethanol and has broad support for permanent approval from the President, as well as numerous members of Congress,” stated Eric McAfee, Chairman and CEO of Aemetis. “Permanent national approval of E15 would allow the demand for ethanol to grow as consumers nationwide benefit from lower-cost, domestic, renewable fuel that lowers the price of gasoline and supports rural communities with good jobs throughout the country.”

    The EPA has indicated its intent to ensure that E15 remains available throughout the summer driving season. The EPA’s action applies throughout the United States, except California. The E15 blend is expected to help American drivers save money at the pump, reduce carbon emissions, strengthen rural economies, and enhance U.S. energy independence, according to the Renewable Fuels Association.

    California is now the only state in the US that has not approved the E15 blend and typically has the highest average gasoline prices nationwide. To address the situation, Governor Gavin Newsom earlier this year issued a letter to the California Air and Resources Board (CARB) requesting completion of the study required to adopt E15 in California.

    The adoption of a 15 percent ethanol blend in California is projected to create more than 600 million gallons per year of new biofuels demand and save consumers an estimated twenty cents per gallon, or approximately $2.7 billion at the pump each year, according to a UC Berkeley and US Naval Academy study. Californians would also benefit from reduced greenhouse gas emissions from the increased use of ethanol, and reduced exposure to benzene and other carcinogens in gasoline.

    Senate Bill 2707, the “Nationwide Consumer and Fuel Retailer Choice Act,” was recently introduced into the U.S. Congress by 14 senators. This bill proposes the permanent sale of year-round E15 throughout the United States, except in states such as California that have their own fuel regulations. The E15 blend is approved for use in more than 95 percent of vehicles on the road today, according to the EPA.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market demand and market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

  • MIL-OSI: Franklin Electric Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights

    • Consolidated net sales of $455.2 million, a decrease of 1% to the prior year
    • Energy Systems net sales increased 8% while Water Systems net sales were up less than 1% and Distribution net sales declined 3%
    • Operating income was $44.1 million with operating margin of 9.7%
    • GAAP fully diluted earnings per share (EPS) was $0.67

    FORT WAYNE, Ind., April 29, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its first quarter financial results for fiscal year 2025.

    First quarter 2025 net sales were $455.2 million, compared to first quarter 2024 net sales of $460.9 million. First quarter 2025 operating income was $44.1 million, compared to first quarter 2024 operating income of $47.9 million. First quarter 2025 EPS was $0.67, versus EPS in the first quarter 2024 of $0.70.

    “Our underlying businesses performed largely as expected in the first quarter.   Order trends remain positive, supporting a robust backlog as we enter the second quarter. Furthermore, strong performance in our Energy Systems segment helped offset unfavorable weather impacting our Distribution business, underscoring the value of our diversified global portfolio. One-time expenses associated with our executive transition and recent acquisitions presented earnings headwinds during the quarter, but our operating strength was clear,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “During the quarter, we continued to invest in growth by completing two acquisitions, in line with our value creation framework. We look forward to deploying our integration playbook and enhancing the margin profiles of these great businesses. Despite uncertainty in the macroeconomic environment and potential tariffs, we are confident in Franklin Electric’s competitive position with strong brands, leading service, and a healthy operating footprint as we continue to execute our strategic priorities,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $287.3 million in the first quarter, an increase of $0.7 million or less than 1 percent compared to the first quarter of 2024. Results were driven by the incremental sales impact of recent acquisitions and higher sales of groundwater products, water treatment products and large dewatering pumps. These sales increases were partially offset by the negative impact of foreign currency translation and lower sales of all other surface products. Water Systems operating income in the first quarter of 2025 was $43.4 million. First quarter 2024 Water Systems operating income was $47.1 million.

    Distribution net sales were $141.9 million, a decrease of $5.1 million or 3 percent compared to the first quarter 2024. Sales decreases were driven by lower volumes and continued negative pricing. The Distribution segment operating income in the first quarter 2025 was $2.1 million. First quarter 2024 Distribution operating income was $1.8 million.

    Energy Systems net sales were $66.8 million in the first quarter 2025, an increase of $4.7 million or 8 percent compared to the first quarter 2024. Sales increases were driven by higher volumes and price realization. Energy Systems operating income in the first quarter of 2025 was $21.9 million. First quarter 2024 Energy Systems operating income was $18.8 million.

    Cash Flow

    Net cash flows used in operating activities for the first quarter of 2025 were $19.5 million versus $1.4 million in the same period in 2024.

    2025 Guidance

    The Company is maintaining its guidance for full year 2025 sales to be in the range of $2.09 billion to $2.15 billion and reducing the low end of its earnings guidance and now expects full year 2025 EPS to be in the range of $3.95 to $4.25.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The first quarter 2025 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/yzximy3p

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register-conf.media-server.com/register/BI5cb1cdcef9da4de38184396c5211b443

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, April 29, 2025, through 9:00 am ET on Tuesday, May 6, 2025, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.

    Franklin Electric Contact:

    Russ Fleeger
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com

     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
           
    (In thousands, except per share amounts)      
           
      First Quarter Ended
      March 31, 2025   March 31, 2024
           
    Net sales $ 455,247     $ 460,900  
           
    Cost of sales   291,344       297,320  
           
    Gross profit   163,903       163,580  
           
    Selling, general, and administrative expenses   119,643       115,644  
           
    Restructuring expense   159       –  
           
    Operating income   44,101       47,936  
           
    Interest expense   (1,799 )     (1,448 )
    Other income, net   843       706  
    Foreign exchange expense, net   (1,293 )     (4,880 )
           
    Income before income taxes   41,852       42,314  
           
    Income tax expense   10,478       9,222  
           
    Net income $ 31,374     $ 33,092  
           
    Less: Net income attributable to noncontrolling interests   (412 )     (133 )
           
    Net income attributable to Franklin Electric Co., Inc. $ 30,962     $ 32,959  
           
    Earnings per share:      
    Basic $ 0.67     $ 0.71  
    Diluted $ 0.67     $ 0.70  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      March 31, 2025   December 31, 2024
    ASSETS      
           
    Cash and cash equivalents $ 83,994     $ 220,540  
    Receivables (net)   271,688       226,826  
    Inventories   560,338       483,875  
    Other current assets   40,627       32,950  
    Total current assets   956,647       964,191  
           
    Property, plant, and equipment, net   236,732       223,566  
    Lease right-of-use assets, net   60,294       62,637  
    Goodwill and other assets   675,199       570,212  
    Total assets $ 1,928,872     $ 1,820,606  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 190,295     $ 157,046  
    Accrued expenses and other current liabilities   125,316       139,989  
    Current lease liability   18,688       18,878  
    Current maturities of long-term debt and short-term borrowings   149,730       117,814  
    Total current liabilities   484,029       433,727  
           
    Long-term debt   14,858       11,622  
    Long-term lease liability   41,382       43,304  
    Deferred income taxes   32,718       10,193  
    Employee benefit plans   30,046       29,808  
    Other long-term liabilities   24,544       22,118  
     
    Redeemable noncontrolling interest   1,373       1,224  
           
    Total equity   1,299,922       1,268,610  
    Total liabilities and equity $ 1,928,872     $ 1,820,606  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Three Months Ended
    (In thousands)      
      March 31, 2025   March 31, 2024
    Cash flows from operating activities:      
    Net income $ 31,374     $ 33,092  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   14,433       13,792  
    Non-cash lease expense   5,241       5,194  
    Share-based compensation   4,962       4,042  
    Other   1,080       4,036  
    Changes in assets and liabilities:      
    Receivables   (29,376 )     (43,365 )
    Inventory   (43,669 )     (28,105 )
    Accounts payable and accrued expenses   (3,744 )     8,576  
    Operating leases   (5,091 )     (5,305 )
    Other   5,322       6,681  
           
    Net cash flows from operating activities   (19,468 )     (1,362 )
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (6,836 )     (9,184 )
    Proceeds from sale of property, plant, and equipment   397       102  
    Acquisitions and investments   (109,687 )     (1,151 )
    Other investing activities   9       17  
           
    Net cash flows from investing activities   (116,117 )     (10,216 )
           
    Cash flows from financing activities:      
    Net change in debt   20,366       11,397  
    Proceeds from issuance of common stock   1,438       4,050  
    Purchases of common stock   (6,902 )     (9,047 )
    Dividends paid   (13,160 )     (12,395 )
    Deferred payments for acquisitions   (4,300 )     (348 )
           
    Net cash flows from financing activities   (2,558 )     (6,343 )
           
    Effect of exchange rate changes on cash and cash equivalents   1,597       (1,728 )
    Net change in cash and cash equivalents   (136,546 )     (19,649 )
    Cash and cash equivalents at beginning of period   220,540       84,963  
    Cash and cash equivalents at end of period $ 83,994     $ 65,314  
           

    Key Performance Indicators: Net Sales Summary

      Net Sales
      United States Latin Europe, Middle Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy Distribution Other/Elims Consolidated
                       
    Q1 2024 $172.7   $41.3   $52.3   $20.3   $286.6   $62.1   $147.0   ($34.8 ) $460.9  
    Q1 2025 $175.7   $39.5   $51.5   $20.6   $287.3   $66.8   $141.9   ($40.8 ) $455.2  
    Change $3.0   ($1.8 ) ($0.8 ) $0.3   $0.7   $4.7   ($5.1 ) ($6.0 ) ($5.7 )
    % Change   2 %   -4 %   -2 %   1 %   0 %   8 %   -3 %     -1 %
                       
    Foreign currency translation, net * ($1.3 ) ($3.6 ) ($1.2 ) ($1.0 ) ($7.1 ) ($0.2 ) $0.0     ($7.3 )
    % Change   -1 %   -9 %   -2 %   -5 %   -2 %   0 %   0 %     -2 %
                       
    Acquisitions $1.2   $3.1   $0.0   $1.4   $5.7   $0.0   $0.0     $5.7  
    % Change   1 %   8 %   0 %   7 %   2 %   0 %   0 %     1 %
                       
    Volume/Price $3.1   ($1.3 ) $0.4   ($0.1 ) $2.1   $4.9   ($5.1 ) ($6.0 ) ($4.1 )
    % Change   2 %   -3 %   1 %   0 %   1 %   8 %   -3 %   -17 %   -1 %
                       

    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey highly inflationary economies within the foreign currency translation, net row above.

    Key Performance Indicators: Operating Income and Margin Summary

    Operating Income and Margins          
    (in millions) For the First Quarter 2025
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 43.4   $ 21.9   $ 2.1   $ (23.3 ) $ 44.1  
    % Operating Income To Net Sales   15.1 %   32.8 %   1.5 %     9.7 %
               
    Operating Income and Margins          
    (in millions) For the First Quarter 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 47.1   $ 18.8   $ 1.8   $ (19.8 ) $ 47.9  
    % Operating Income To Net Sales   16.4 %   30.3 %   1.2 %     10.4 %
               

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    • Q4 net loss narrowed sharply to US$(18.8) million
    • Q4 Adjusted EBITDA loss improved to US$(2.9) million

    SINGAPORE, April 29, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the fourth quarter and full year ended December 31, 2024.

    Management Commentary:

    Rohith Murthy, Chief Executive Officer, stated:

    “We closed out 2024 with a robust quarter of financial and operational results, making clear progress on our path towards profitability as we continue to focus on diversifying our revenue mix toward high-margin products, lowering operating expenses, and improving operational efficiency. Net loss narrowed sharply to US$(18.8) million from US$(94.3) million during the same period last year, and Adjusted EBITDA loss during the quarter improved substantially to US$(2.9) million – our best quarterly performance since going public. With registered members and approved applications increasing 42% and 21% year-over-year in 2024, we are confident in our ability to build upon this momentum and regain topline growth momentum with US$100 million in revenue and generate positive adjusted EBITDA on a quarterly basis in the second half of 2025.

    In Q2 2024, we outlined five strategic pillars—Consumer Pull, Conversion Expertise, Operating Leverage, Strong Provider Partnerships, and Insurance Brokerage—and we’ve made meaningful progress across all of these. We launched seamless, end-to-end purchasing journeys in Travel and Car Insurance, substantially streamlined our operating model to create a leaner, lower-cost base, deepened banking partnerships following a major provider’s exit from key markets and significantly accelerated our insurance growth through targeted strategic collaborations.

    These results directly reflect the impact our ‘efficiency’ strategy is having on building a more focused, resilient, and profitable business. We remain the largest credit card digital acquisition partner for the majority of banks across our geographies and are leveraging this strong market position to strategically broaden our focus toward high-margin verticals to improve revenue quality. Insurance revenue grew 40% in 2024 and now accounts for 10% of total revenue while wealth products revenue grew 138%, driven by strong demand for stock and bank account products. These verticals strengthen our margin profile while generating consistent and recurring revenue streams, both of which are key pillars of long-term sustainability. We also laid the foundation for scalable growth by materially lowering operating expenses and improving unit economics with an optimized cost structure across all markets, streamlined operations, and reduced paid marketing and rewards spend.

    Looking ahead to 2025, we will maintain our focus on scaling high-margin verticals, particularly insurance, while continuing to tighten cost controls and simplifying workflows. Our product and tech strategy continues to follow a ‘buy-over-build’ philosophy, enabling faster innovation through strategic partnerships, including new initiatives in AI and automation that are already underway.

    Our commitment to becoming an AI-first organization is already translating into several impactful initiatives across the business. We are actively working on deploying AI-powered customer service tools designed to significantly reduce inquiry volumes and achieve higher first-contact resolution rates. Additionally, we are piloting generative AI solutions to accelerate and scale content production efficiently. Throughout the organization, we are exploring opportunities to automate workflows using advanced AI tools and agentic AI to boost productivity, reduce operational overhead, and enable our teams to focus more strategically.

    With a debt-free balance sheet, US$42.5 million in cash and cash equivalents, and a more efficient and scalable business model, we are well-equipped to capture a greater share of a large and growing addressable market and deliver sustainable, long-term value to shareholders.”

    Danny Leung, interim Chief Financial Officer, added:

    “Our strong results in the fourth quarter demonstrate the effectiveness of our strategy as we continue to make significant strides in the diversification of our revenue mix, expand partnerships with other key providers, and broaden our product offerings. We believe these adjustments position us well for sustained growth, and as providers scale their operations in different regions, we see opportunities to further strengthen our revenue base and deepen our market presence with them.

    This quarter, we remained focused on executing our growth strategy and commenced our comprehensive reorganization and restructuring exercise to streamline operations and reduce costs. Our investments this quarter were squarely focused on customer acquisition, technology re-platforming, and data infrastructure, to build a solid foundation for future growth and profitability. These strategic investments were balanced by initiatives to streamline other aspects of our operations designed to enhance efficiency and drive returns.

    Looking ahead, we expect adjusted EBITDA to consistently improve, building on the significant progress we made during the fourth quarter. With margins steadily improving, we are well-positioned to drive growth momentum heading into 2025, strengthening our confidence to generate positive Adjusted EBITDA on a quarterly basis in the second half of 2025. Our comprehensive review of our organizational structure, completed alongside a successful reorganization this year, has strengthened our operational foundation and set the stage for continued sustainable growth.”

    Fourth Quarter 2024 Financial Highlights

    • Revenue decreased by 40% year-over-year to US$15.7 million in the fourth quarter of 2024, driven primarily by a shift in focus toward diversifying revenue mix toward high-margin products such as insurance and wealth products, and the high base effect set during the same period last year with increased investment in marketing and customer acquisition to expand market share.
      • Revenue from insurance products increased by 10% year-over-year to US$2.1 million in the fourth quarter of 2024, accounting for 14% of total revenue, compared to 7% during the same period last year.
      • Revenue from wealth products increased by 195% year-over-year to US$2.4 million in the fourth quarter of 2024, accounting for 15% of total revenue, compared to 3% during the same period last year.
    • Cost of revenue decreased by 62% year-over-year to US$6.6 million, with advertising and marketing expenses decreasing by 23% year-over-year in the fourth quarter of 2024, as the Company focused on scaling higher margin verticals and optimizing rewards costs associated with the credit cards vertical and paid marketing spend across all markets.
    • Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$25.2 million in the fourth quarter of 2024 from US$45.6 million during the same period last year. Operating costs and expenses in the fourth quarter of 2023 included significant transaction costs associated with the listing as well as certain write-offs of intangible assets which are further detailed in the adjusted EBITDA reconciliation below.
    • Foreign exchange loss of US$8.9 million in the fourth quarter of 2024 was driven by the weakening of local currencies against the US dollar from end September 2024 to end December 2024.
    • Net loss for the period narrowed sharply to US$(18.8) million during the fourth quarter of 2024, compared to US$(94.3) million in the same period last year, primarily due to non-operating expenses including share-based payments to effect the merger with Bridgetown Holdings and finance costs.
    • Adjusted EBITDA loss improved to US$(2.9) million in the fourth quarter of 2024 from US$(4.6) million in the prior year period.

    Full Year 2024 Financial Highlights

    • Revenue decreased by 1% year-over-year to US$79.5 million for the full year 2024, driven primarily by a shift in focus toward profitability by diversifying revenue mix toward high-margin products starting in the second half of 2024.
      • Revenue from insurance products increased by 40% year-over-year to US$8.2 million for the year 2024, accounting for 10% of total revenue, compared to 7% in the prior year.
      • Revenue from wealth products increased by 138% year-over-year to US$8.5 million for the year 2024, fueled by growth of stock account and bank account verticals.
    • Total operating costs and expenses, excluding net foreign exchange differences, increased by 3% year-over-year to US$114.9 million for the year 2024, primarily due to higher advertising and marketing expenses.
    • Net loss for the full year 2024 narrowed sharply to US$(37.8) million from US$(172.6) million in the prior year. Net loss for the full year 2023 includes US$143.4 million in non-operating expenses associated with share-based payments to effect the merger with Bridgetown Holdings, finance costs and changes in fair value of financial instruments.
    • Adjusted EBITDA loss was US$(23.7) million for the full year 2024, compared to US$(6.8) million in the prior year, largely attributable to strategic investments in marketing and customer acquisition during the first half of the year as well as increased operating costs associated with being a public company.
    • As of December 31, 2024, the Company had a debt-free balance sheet with US$42.5 million in cash and cash equivalents.

    Fourth Quarter and Full Year 2024 Operational Highlights

    • Monthly Unique Users for the three months ended December 31, 2024 of 6.2 million
    • MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 42% year-over-year to 7.5 million as of December 31, 2024
    • Approved Application volumes increased by 21% year-over-year in 2024 to 767,000, driven by strong growth in the Company’s insurance products

    Capital Structure

    The table below summarizes the capital structure of the Company as of December 31, 2024:

    Share Class Issued and Outstanding
    Class A Ordinary 28,653,4671
    Class B Ordinary 13,254,838
    Preference Shares 2,407,575
    Total Issued Shares 44,315,880
    Employee Equity Options 690,0552
    Issued Class A Ordinary Shares Underlying Employee Equity Options (690,055)3
    Total Issued and Issuable Shares4 44,315,880

    ______________________________
    1 Includes 690,055 shares issued to Computershare Hong Kong Investor Services Limited (“Computershare”) which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of December 31, 2024.
    3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money.

    Summary of financial / KPI performance

      For the Three Months Ended December 31,   For the Full Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands, unless otherwise noted)
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Clicks (in thousands)5 2,222   N/A     N/A   N/A  
    Applications (in thousands)6 363   504     1,779   1,713  
    Approved Applications (in thousands)6 172   204     767   636  

    ______________________________
    5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable.

    Revenue breakdown

      For the Three Months Ended
    December 31,    		   For the Year Ended December 31,
      2024   2023       2024   2023  
      US$ % US$ %   US$ % US$ %
      (US$ in thousands, except for percentages)
    By Geographical Market:                  
    Singapore 5,060 32.2 12,111   45.9     30,890 38.9 32,070 39.8
    Hong Kong 7,386 47.0 8,390   31.8     30,443 38.3 26,947 33.4
    Taiwan 1,296 8.2 1,967   7.5     5,137 6.5 6,743 8.4
    Philippines 1,977 12.6 3,887   14.7     12,844 16.2 14,169 17.6
    Malaysia 5 0.0 43   0.2     197 0.2 738 0.9
    Other Asia 0 0.0 (0 ) (0.0 )   0 0.0 4 0.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Source:                  
    Online financial comparison platforms 13,594 86.5 21,831   82.7     66,815 84.0 66,926 83.0
    Creatory 2,129 13.5 4,566   17.3     12,696 16.0 13,746 17.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Vertical:                  
    Credit cards 7,559 48.1 19,976   75.7     48,958 61.6 60,258 74.7
    Personal loans and mortgages 3,373 21.5 3,487   13.2     12,185 15.3 10,166 12.6
    Wealth 2,397 15.2 813   3.1     8,504 10.7 3,580 4.4
    Insurance 2,125 13.5 1,928   7.3     8,181 10.3 5,853 7.3
    Other verticals 269 1.7 193   0.7     1,683 2.1 814 1.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0


    Key Metrics

      For the Three Months Ended
    December 31, 2024    		  
      (in millions, except for percentages)
    Monthly Unique Users7,8      
    Singapore 1.4 23.1 %  
    Hong Kong 1.1 17.2 %  
    Taiwan 1.7 28.2 %  
    Philippines 1.9 31.5 %  
    Total 6.2 100.0 %  
           
    Total Traffic7,8      
    Singapore 3.1 16.6 %  
    Hong Kong 3.5 19.0 %  
    Taiwan 5.7 30.7 %  
    Philippines 6.3 33.7 %  
    Total 18.6 100.0 %  
     
       
             
       
             
                 
                 
                 
                 
                 
                 
      As of December 31,
       
             
       
             
                 
                 
                 
                 
                 
                 
      2024   2023  
       
             
       
             
                 
                 
                 
                 
                 
                 
      (in millions, except for percentages)
       
             
       
             
                 
                 
                 
                 
                 
                 
    MoneyHero Group Members8        
       
             
       
             
                 
                 
                 
                 
                 
                 
    Singapore 1.3 17.7 % 1.2 22.1 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Hong Kong 0.9 11.5 % 0.7 13.0 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Taiwan 0.4 4.8 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Philippines 5.0 66.1 % 2.9 55.3 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Malaysia 0.0 0.0 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Total 7.5 100.0 % 5.3 100.0 %

    _____________________________
    7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    8 Malaysia’s ‘CompareHero’ brand was acquired by Jirnexu Sdn. Bhd in July 2024.

    Conference Call Details

    The Company will host a conference call and webcast on Tuesday, April 29, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company’s financial results. The MoneyHero Limited (NASDAQ: MNY) Q4 and FY 2024 Earnings call can be accessed by registering at:

    Webcast: https://edge.media-server.com/mmc/p/g36exn6g/
    Conference call: https://register-conf.media-server.com/register/BI63a8f286c9b74092aff58fc8eb219749

    The webcast replay will be available on the Investor Relations website for 12 months following the event.

    About MoneyHero Group
    MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at December 31, 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended December 31, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

    Key Performance Metrics and Non-IFRS Financial Measures

    Historically, we utilized data from Universal Analytics (“UA”), Google’s analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 (“GA4”) replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024.

    “Monthly Unique User” means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user.

    “Traffic” means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source.

    “MoneyHero Group Members” means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated.

    “Clicks” means the sum of unique clicks by product item on a tagged “Apply Now” button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates.

    “Applications” means the total number of product applications submitted by users and confirmed by our commercial partners.

    “Approved Applications” means the number of applications that have been approved and confirmed by our commercial partners.

    In addition to MoneyHero Group’s results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax.

    Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), impairments of non-financial assets, equity-settled share-based payment expenses, other long-term employee benefits expense/(credit), non-recurring costs related to strategic exercises, gain on disposal of Malaysian operations, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, gain on derecognition of convertible loan and bridge loan and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

    A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP.

      For the Three Months Ended December 31,   For the Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands)
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Tax expenses 19   3     109   63  
    Depreciation and amortization 893   3,563     4,043   7,165  
    Interest income (239 ) (679 )   (1,478 ) (873 )
    Finance costs 8   13,657     25   19,028  
               
    EBITDA (18,075 ) (77,752 )   (35,088 ) (147,217 )
               
    Non-cash items:          
    Changes in fair value of financial instruments 526   (123 )   (447 ) 57,333  
    Impairment of intangible assets 4,466   3,106     4,541   3,106  
    Equity settled share-based payment arising from employee share incentive scheme 1,631   5,653     3,179   6,629  
    Unrealized foreign exchange loss/(gain), net 8,523   (4,763 )   4,197   (895 )
               
    Listing and other non-recurring strategic exercises related items:        
    Share-based payment arising from listing –   67,027     –   67,027  
    Equity settled share-based payment arising from professional services in relation to listing –   500     –   500  
    Transaction expenses 0   1,739     29   6,643  
    Gain on disposal of Malaysian operations 0   –     (600 ) –  
    Other non-recurring costs related to strategic exercises –   (0 )   61   1  
               
    Other non-recurring items:          
    Other long-term employee benefits expense/(credit) –   0     –   110  
    Non-recurring legal fees 7   –     462   0  
               
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
    Adjusted EBITDA Margin (18.6 )% (17.5 )%   (29.8 )% (8.4 )%
     

    Forward Looking Statements

    This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

    For inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media Relations:
    MoneyHero PR Team
    Press@MoneyHeroGroup.com

    Consolidated Statements of Loss and Other Comprehensive Income

      For the Three Months Ended
    December 31,    		   For the Year Ended
    December 31,
      2024   2023     2024   2023  
      (US$ in thousands except for loss per share)
    Revenue 15,723   26,397     79,511   80,671  
               
    Cost and expenses:          
    Cost of revenue (6,603 ) (17,601 )   (46,180 ) (43,930 )
    Advertising and marketing expenses (3,954 ) (5,111 )   (21,619 ) (16,245 )
    Technology costs (1,397 ) (4,451 )   (7,427 ) (9,522 )
    Employee benefit expenses (5,837 ) (10,585 )   (24,151 ) (24,931 )
    General, administrative and other operating expenses (7,454 ) (7,863 )   (15,543 ) (16,725 )
    Foreign exchange differences, net (8,921 ) 4,802     (4,783 ) 657  
               
    Operating loss (18,444 ) (14,411 )   (40,192 ) (30,026 )
               
    Other income/(expenses):          
    Other income 241   679     2,092   878  
    Share-based payment on listing –   (67,027 )   –   (67,027 )
    Finance costs (8 ) (13,657 )   (25 ) (19,028 )
    Changes in fair value of financial instruments (526 ) 123     447   (57,333 )
               
    Loss before income tax (18,737 ) (94,293 )   (37,678 ) (172,538 )
    Tax expenses (19 ) (3 )   (109 ) (63 )
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Other comprehensive income/(loss)          
    Other comprehensive income/(loss) that may be classified to profit or loss in subsequent periods (net of tax):          
    Exchange differences on translation of foreign operations 8,071   (4,098 )   3,738   (820 )
    Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods (net of tax):          
    Remeasurement of defined benefit plan 8   (9 )   12   (30 )
    Other comprehensive income/(loss), net of tax 8,079   (4,107 )   3,750   (850 )
               
    Total comprehensive loss, net of tax (10,677 ) (98,403 )   (34,037 ) (173,451 )
               
    Loss per share attributable to ordinary equity holders of the parent    
    Basic and diluted (0.5 ) (2.8 )   (0.9 ) (17.9 )
     

    Consolidated Statements of Financial Position

      As of December 31,
    (US$ in thousands) 2024 2023
         
    NON-CURRENT ASSETS    
    Non-current financial asset 600 –
    Intangible assets 1,018 7,294
    Property and equipment 215 190
    Right-of-use assets 744 590
    Deposits 25 26
         
    Total non-current assets 2,601 8,100
         
    CURRENT ASSETS    
    Accounts receivable 13,538 17,236
    Contract assets 11,825 16,025
    Prepayments and other assets 9,041 4,855
    Tax recoverable 63 0
    Pledged bank deposits 185 189
    Cash and cash equivalents 42,522 68,641
         
    Total current assets 77,174 106,947
         
    CURRENT LIABILITIES    
    Income tax payable 32 –
    Accounts and other payables 29,101 33,222
    Warrant liabilities 1,393 1,840
    Lease liabilities 442 575
    Provisions 71 72
         
    Total current liabilities 31,039 35,708
         
    NET CURRENT ASSETS 46,135 71,239
    TOTAL ASSETS LESS CURRENT LIABILITIES 48,736 79,339
         
    NON-CURRENT LIABILITIES    
    Lease liabilities 294 31
    Deferred tax liabilities 30 29
    Provisions 185 194
         
    Total non-current liabilities 509 255
         
    Net assets 48,227 79,084
         
    EQUITY    
    Issued capital 4 4
    Reserves 48,223 79,080
         
    Total equity 48,227 79,084

    The MIL Network –

  • MIL-OSI Russia: Worst result in 8 years – mortgage market predicted to face a severe rollback

    Translation. Region: Russian Federal

    Source: Mainfin Bank –

    How will the mortgage lending market change in 2025?

    Experts’ forecast for issuance mortgage loans in Russia is disappointing – experts expect the worst result since 2016. As expected, in 2025:

    the number of executed mortgage agreements will decrease to 800 thousand, which will be 40% lower than last year’s level; the amount of issued loans will amount to 3.7 trillion rubles – a drop of almost 30%; the average bill will increase above 4 million rubles (a year earlier – 3.7 million rubles); an increase in the average payment is expected by 13% – up to 35 thousand rubles per month; the total volume of the banks’ mortgage portfolio, taking into account existing loans, will increase above the 20 trillion ruble mark.

    However, the forecast only takes into account the current situation without significant upheavals in the industry – it is based on a key rate of 18-21%: in the presence of shock events, the changes may be even more significant.

    Why are mortgage loans being issued in Russia decreasing?

    Negative dynamics in the mortgage loan segment have been observed since mid-2024, amid the cancellation of the preferential mortgage program in new buildings. The decrease in demand for housing loans is due to the following factors:

    high interest rates, often exceeding 30%; worsening conditions for government-supported programs; tightening regulation of the industry by the Central Bank of the Russian Federation; popularity of installment programs from developers – such loans already account for up to 50% of all contracts; continuing growth in housing prices – apartments are becoming less and less affordable.

    “It is not profitable for Russians to take out mortgage loans – now many families planning to buy housing prefer to open savings accounts and deposits, expecting a reduction in rates in the industry,” experts emphasize.

    Current borrowers have also changed their payment behavior – early mortgage repayment is becoming less and less popular, and by the end of 2025, only 2% of contracts will be closed ahead of schedule. Russians have fewer and fewer incentives to repay loans early, especially against the backdrop of favorable conditions for savings products.

    When will demand for mortgages among Russians recover?

    It is definitely not worth expecting even a partial recovery of the industry in the coming months. As the survey results show, most Russians are ready to take out a mortgage if market rates fall to 15-18% per annum. Every fifth borrower in the Russian Federation is willing to consider getting a loan even at 20%, and every tenth citizen is waiting for a reduction to 10%.

    However, there are no prerequisites for such a serious revision of the conditions on the part of banks no – the regulator has been keeping the key rate at the current level for several meetings in a row. The transition to easing monetary policy is expected in the second half of 2025, provided that inflation does not exceed the forecast values, but even in this case, one should not expect a sharp reduction in the rate.

    14:35 04/29/2025

    Source:

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

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

    HTTPS: //Mainfin.ru/novosti/Chudny-results-out-and-pound-idle-fish-prying-zest-oatmeal

    MIL OSI Russia News –

  • MIL-OSI: Best Online Casinos Australia: 7Bit Casino Ranked Top Choice for Aussie Players in 2025

    Source: GlobeNewswire (MIL-OSI)

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    The mobile platform mirrors the desktop experience, ensuring players can enjoy online pokies for real money on the go. 24/7 live chat provides prompt support, and SSL encryption with a provably fair system enhances security, though third-party audits like eCogra are absent. Responsible gambling tools, such as deposit limits and self-exclusion, are available to promote safe play.

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    A payid pokies Australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering, €50 max cashout) is available. Weekly cashback, reload bonuses, and Telegram-exclusive offers keep players engaged, making it a top choice for online pokies Australia payid enthusiasts.

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    Casino Games

    With over 10,000 games, 7Bit offers online pokies real money, table games, and live dealer options. High-RTP titles like Mega Moolah are favorites among the best online casino Australia players, ensuring diverse and rewarding gameplay.

    Casino Game ProvidersOur Favourite Overall Casino

    Partners include industry leaders like NetEnt, Microgaming, Play’n GO, and Evolution Gaming, ensuring high-quality, fair games for Australian online pokies and online blackjack players.

    Banking Methods

    Supports VISA, Mastercard, Neosurf, Skrill, PayID, and cryptocurrencies like Bitcoin and Ethereum. PayID is ideal for Aussies, offering fast transactions for the best online casino in Australia.

    Customer Support

    24/7 live chat responds within seconds, email support is slower, and no phone support is available. A detailed FAQ section addresses common queries, enhancing the experience for best online casinos in Australia.

    The Selection Process: Defining Excellence in Online Gaming

    • Screening: Verify licensing and reputation to ensure trust.
    • Game Evaluation: Assess variety, quality, and provider reputation.
    • Bonus Analysis: Check value, terms, and wagering requirements.
    • Payment Review: Test speed, security, and options like PayID.
    • Support Testing: Evaluate response times and effectiveness.
    • Mobile Testing: Ensure compatibility for online pokies real money on smartphones.
    • Security Check: Confirm encryption and fairness systems.
    • Player Feedback: Analyze reviews for real-world insights.
    • Scoring: Rank based on weighted criteria to identify top PayID casino options.

    Pros and Cons of 7Bit Online Casino

    Pros Cons
    Over 10,000 games, including real money pokies High wagering requirements on bonuses
    Welcome bonus: 10,800 AUD + 250 FS No phone support
    Fast PayID and crypto withdrawals No third-party audits (e.g., eCogra)
    24/7 live chat support  
    Mobile-friendly platform  
    Curacao license and SSL encryption  
    Responsible gambling tools  


    Explore the Best Online Pokies and Casino Games at 7Bit Casino

    7Bit’s 10,000+ games provide a thrilling experience for real money pokies Australia players and beyond:

    1. Pokies (Slots)

    7Bit is a haven for online pokies Australia players, offering thousands of titles from classic three-reel slots to modern video slots with immersive graphics and features. Popular titles include:

    • Mega Moolah: Renowned for its massive progressive jackpots, offering life-changing wins.
    • Johnny Cash: A music-themed slot with free spins and engaging bonus rounds.
    • Elvis Frog in Vegas: High-RTP slot with vibrant visuals and sticky wilds.
    • Wild Spin: Packed with wild features and big win potential.
    • Raging Lion: A safari-themed slot with dynamic gameplay and multipliers.
    • Book of Dead: An adventure-themed slot with expanding symbols and high volatility.

    These real money pokies are ideal for players seeking thrilling online pokies real money experiences, with demo modes available for practice.

    2. Table Games

    Traditional casino games offer strategic depth:

    • Blackjack: Variants like Classic, European, and Multi-Hand cater to all skill levels.
    • Roulette: European, American, and French options provide diverse betting opportunities.
    • Baccarat: A simple yet rewarding card game with a low house edge.
    • Poker: Video poker titles like Jacks or Better and Deuces Wild for solo play.

    These games complement Australian online pokies for players seeking variety.

    3. Live Dealer Games

    Powered by Evolution Gaming, live dealer games deliver an authentic casino experience:

    • Live Blackjack: Real-time interaction with professional dealers, ideal for online blackjack in Australia.
    • Live Roulette: Authentic wheel-spinning action with multiple camera angles.
    • Live Baccarat: Play against the banker in a high-stakes environment.

    High-quality streaming ensures immersion for online blackjack real money players.

    4. Instant Win Games

    Quick-play options for fast entertainment:

    • Scratch Cards: Virtual lottery-style games with instant payouts.
    • Keno: Number-picking for quick wins, offering simplicity and excitement.

    These are perfect for players taking a break from real money pokies Australia.

    5. Virtual Sports

    Simulated events like football, horse racing, and greyhound racing offer betting opportunities with realistic graphics and outcomes, providing an alternative to online pokies Australia.

    6. Craps

    7Bit does not offer Craps, which may disappoint dice game enthusiasts. However, alternatives like Sic Bo provide similar dice-based excitement with varied betting options, fast-paced gameplay, and high payout potential. Players can also explore table games like roulette or online blackjack for real money for comparable thrills, ensuring a diverse gaming experience alongside real money pokies.

    7. Poker

    7Bit offers a robust poker selection for all skill levels:

    • Video Poker: Popular titles like Jacks or Better, Deuces Wild, Aces and Faces, and Joker Poker for solo play with high RTPs.
    • Live Poker: Casino Hold’em, Three Card Poker, and Caribbean Stud Poker via live dealer, offering real-time competition against the dealer.
    • Virtual Poker: Texas Hold’em and Omaha variants for strategic gameplay, perfect for honing skills.

    These options cater to both casual players and seasoned pros seeking alternatives to online pokies real money.

    8. Roulette

    Roulette options provide diverse betting opportunities:

    • European Roulette: Single zero for better odds, popular among strategic players.
    • American Roulette: Double zero increases house edge, adding challenge.
    • French Roulette: Features La Partage and En Prison rules for reduced losses.
    • Live Roulette: Lightning Roulette adds random multipliers for bigger wins, enhancing excitement.

    These games are ideal for players who enjoy strategic betting alongside real money pokies in Australia.

    9. Blackjack

    Blackjack variants offer variety for online blackjack Australia fans:

    • Classic Blackjack: Standard rules for beginners, with a low house edge.
    • European Blackjack: Restricts doubling after splitting, adding strategy.
    • Multi-Hand Blackjack: Play up to five hands at once for higher stakes.
    • Live Blackjack: Real-time games with professional dealers, perfect for online blackjack real money enthusiasts.
    • Blackjack Switch: Allows swapping cards between hands for unique gameplay.

    These options ensure a thrilling experience for players seeking online blackjack real money.

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    Payment Options Available At The Best Online Casinos in Australia

    • Fiat Currency
    Method Deposit Withdrawal Processing Time
    VISA/Mastercard Yes No N/A
    Neosurf Yes No N/A
    Skrill Yes Yes Instant
    Interac Yes Yes Instant
    Neteller Yes Yes Instant
    Paysafe Card Yes No N/A
    PayID Yes Yes 1-24 hours
    Bank Transfer Yes Yes 3-7 days
    • Cryptocurrency
    		      
    Method Deposit Withdrawal Processing Time
    Bitcoin Yes Yes <1 hour
    Litecoin Yes Yes <1 hour
    Binance Coin Yes Yes <1 hour
    Ethereum Yes Yes <1 hour
    Dogecoin Yes Yes <1 hour

    PayID and crypto are the fastest, ideal for online pokies Australia payid users, while bank transfers are slower but reliable.

    The Most Popular Pay-out Methods at 7Bit Casino

    • Cryptocurrencies: Bitcoin, Ethereum, and Litecoin for speed and anonymity.
    • PayID: Fast, Aussie-friendly for online pokies Australia payid users.
    • E-Wallets: Skrill and Neteller for instant withdrawals.
    • Bank Transfers: Slower but reliable for larger transactions.

    PayID and crypto are preferred for their speed, making them ideal for PayID casino players.

    VIP Program at 7Bit Casino

    7Bit’s VIP program rewards loyal players with exclusive bonuses, personalized support, and up to 20% cashback. Higher levels offer faster withdrawals, special gifts, and dedicated account managers. Players earn points through wagering on real money pokies in Australia, unlocking perks like free spins and tournament entries. The program enhances the experience for PayID casino users, adding value to every bet.

    Final Thoughts About the Best Online Casino in Australia

    7Bit Casino is likely the top choice for Aussie players in 2025, offering a vast game selection, generous bonuses, and fast PayID withdrawals. Despite minor drawbacks like high wagering requirements and no phone support, its strengths in game variety, mobile compatibility, and player-focused features make it a standout PayID casino.

    Whether you’re spinning online pokies Australia or playing online blackjack real money, 7Bit delivers a thrilling and reliable experience.

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    Frequently Asked Questions About The Best Online Casinos Australia

    1. Is 7Bit Casino legal in Australia?
      7Bit is licensed by Curacao, making it accessible to Australian players. However, online gambling laws vary by state, so players should verify local regulations to ensure compliance before playing real money pokies Australia or other games.
    2. What payment methods are accepted?
      7Bit supports VISA, Mastercard, Neosurf, Skrill, PayID, Bitcoin, Ethereum, Litecoin, and more. PayID and cryptocurrencies are the fastest, ideal for online pokies Australia payid users, offering secure and efficient transactions for PayID casino players.
    3. How long do withdrawals take?
      Cryptocurrency withdrawals process in under an hour, PayID takes 1-24 hours, and e-wallets like Skrill are instant. Bank transfers can take 3-7 days, depending on the bank, making PayID and crypto preferred for real money pokies Australia players.
    4. What’s the welcome bonus?
      7Bit offers up to 10,800 AUD + 250 free spins across four deposits, plus a payid pokies australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering). This package is ideal for new players exploring online pokies with real money and other games.
    5. Is mobile gaming available?
      7Bit’s mobile platform is fully optimized for iOS and Android, mirroring the desktop experience. Players can enjoy online pokies Australia, online blackjack real money, and live dealer games on the go with seamless performance and intuitive navigation.

    EMAIL: Support@7bitCasino.com

    Disclaimers and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of April 24, 2025. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t suitable for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products. Do your own research before signing up or playing real money pokies in Australia.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e955b95c-b051-4108-9d06-23bb3d13cbcd

    The MIL Network –

  • MIL-OSI: Best Online Casinos Canada 2025: 7Bit Casino Recognized as the Best Overall Choice

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., April 29, 2025 (GLOBE NEWSWIRE) — We played through plenty of online casinos across Canada, hoping to find great bonuses and a good time, but most fell short. After talking to a few local players, one name kept popping up, so we decided to check it out. That’s how we ended up at 7Bit Casino, and right away, it felt different. We were greeted with a 325% bonus up to 5.25 BTC and 250 free spins. The site’s packed with thousands of slots, live games, and fast, crypto-friendly payments.

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    Why 7Bit Casino Stands Out from Other Casinos in Canada

    7Bit Casino stands out among Canadian online casinos with its crypto-friendly, no KYC approach, supporting Bitcoin, Ethereum, and altcoins like Tron and Cardano. It offers instant withdrawals via Pay ID and crypto, unlike many fiat-only competitors. With over 10,000 games from 100+ providers, including NetEnt and BGaming, 7Bit delivers a diverse, exclusive library. The platform also builds community through Telegram, shares exclusive offers, and promotes eco-friendly crypto use, appealing to modern, privacy-focused players.

    Our Favourite Overall Casino

    7Bit Casino is our top pick among the best online casinos in Canada for 2025. Its seamless integration of crypto gaming, a vast slot selection, and rapid payouts make it a standout. The Curacao license guarantees security, while its cryptocurrency focus positions it as a leading anonymous online casino. For players seeking the best online casinos in Canada, 7Bit’s innovative features, player-centric design, and commitment to fairness make it an unrivaled choice.

    How to Join 7Bit Casino

    Joining 7Bit Casino is a breeze, ensuring quick access to the best online casinos in Canada:

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    This streamlined process gets you gaming in minutes, a hallmark of the best online casinos in Canada.

    7Bit Casino Features

    7Bit Casino stands out as one of the best online casinos in Canada, licensed by the Curacao eGaming Commission for a secure, fair experience. Its mobile compatibility ensures seamless access to games, account management, and withdrawals on the go. With over 10,000 games from 100+ providers, it offers a diverse selection of slots, table games, and live dealers.

    Supporting both fiat and cryptocurrency payments, 7Bit provides flexibility for all players. Fast payouts, especially via Pay ID and crypto, make it a leader in quick transactions, while its VIP program rewards loyalty with cashback, free spins, and bonuses.

    Additional features include:

    • Provably Fair Games: Many crypto-based games allow players to verify outcomes, enhancing trust and transparency.
    • Multi-Language Support: Available in English, French, and other languages, catering to Canada’s multicultural audience.
    • Regular Tournaments: Slot and table game tournaments offer cash prizes and free spins, adding competitive excitement.
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    Pros and Cons of 7Bit Casino

    Pros Cons
    Over 10,000 games, including top slots and live dealer options High wagering requirements on some bonuses
    Instant withdrawals via crypto and Pay ID Occasional regional game restrictions
    Generous welcome bonus: 5.25 BTC + 250 free spins  
    Supports fiat and crypto payments  
    Robust VIP program with exclusive rewards  


    Pros Explained:

    • Game Variety: 7Bit’s extensive library offers endless entertainment, from the best online pokies to immersive live dealer experiences, catering to all player preferences.
    • Speedy Payouts: As a pay ID casino, 7Bit ensures instant withdrawals, particularly for crypto users, setting a high standard for efficiency.
    • Bonuses: The welcome package and frequent free spins promotions enhance player value, making every session rewarding.
    • Payment Flexibility: Support for multiple currencies ensures accessibility for diverse players.
    • VIP Program: Personalized rewards, including higher cashback and dedicated account managers, foster loyalty.

    Cons Explained:

    • Wagering Requirements: Some bonuses come with high playthrough conditions, which may challenge players aiming to withdraw winnings quickly.
    • Bank Transfers: While crypto and e-wallets are instant, bank transfers can take 3–5 days, lagging behind faster methods.
    • Regional Restrictions: Certain games may be unavailable in specific regions due to licensing or provider restrictions.

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    Regulation of the Best Online Casinos in Canada

    The best online casinos in Canada adhere to stringent regulations to ensure player safety and fairness. Key regulatory aspects include:

    • Licensing Requirements: Casinos like 7Bit must hold valid licenses, such as from the Curacao eGaming Commission, to operate legally. These licenses enforce oversight, fair play, and financial accountability.
    • Provincial Oversight: Ontario regulates online gambling through iGaming Ontario, requiring specific licensing for operators in the province. Offshore casinos, like 7Bit, serve other provinces under international licenses, offering broader access.
    • Age Restrictions: Players must be 19 or older to gamble online in Canada, aligning with federal and provincial laws to protect minors.
    • Responsible Gambling Measures: Licensed casinos provide tools like deposit limits, self-exclusion options, and cooling-off periods to promote responsible play and prevent addiction.
    • Taxation Policies: Recreational gambling winnings are tax-free in Canada, but professional gamblers may face taxation on consistent profits, as per CRA guidelines.
    • Security Standards: Mandatory SSL encryption, TLS1.3 protocols, and fairness audits by organizations like eCOGRA protect player data and ensure game integrity.
    • Advertising Compliance: Casinos must follow strict advertising guidelines, avoiding promotions targeting vulnerable groups or minors, and ensuring ethical marketing practices.

    These regulations create a secure and transparent environment, making platforms like 7Bit trusted choices among the best online casinos in Canada.

    How We Selected 7Bit as the Best Online Casinos in Canada

    Our selection process for the best online casinos in Canada is meticulous, focusing on critical criteria to ensure quality and reliability:

    • License and Security

    A valid license, such as 7Bit’s Curacao eGaming certification, is non-negotiable, guaranteeing regulatory oversight and fair play. Advanced security measures like TLS 1.3, SSL encryption, and two-factor authentication safeguard player data and transactions, making 7Bit a secure choice (Zamsino).

    • Bonuses and Promotions

    We prioritize casinos offering fair and transparent bonuses. 7Bit’s generous welcome package and ongoing free spins promotions provide significant value, though players should note the wagering requirements.

    • Casino Games

    A diverse game library is essential, encompassing slots, table games, live dealer options, and instant-win games. 7Bit’s 10,000+ titles ensure variety for all players.

    • Casino Game Providers

    Partnerships with top providers like NetEnt, Microgaming, and Evolution Gaming ensure high-quality, innovative games. 7Bit’s collaboration with over 100 providers sets it apart.

    • Banking Methods

    Support for multiple payment methods, including fiat and crypto, enhances accessibility. 7Bit’s instant crypto and Pay ID withdrawals are a major draw.

    • Customer Support

    Responsive 24/7 support via live chat, email, and comprehensive FAQs is crucial. 7Bit excels in this area, ensuring player satisfaction.

    How We Choose the Top-Rated Casino Sites

    Our evaluation criteria for top-rated casino sites like 7Bit include:

    • Reputation and Trustworthiness: Positive player reviews and valid licensing build credibility.
    • Game Quality and Variety: High-RTP games and a diverse library cater to all preferences.
    • Bonuses and Promotions: Fair, valuable offers enhance player experience.
    • Payment Options: Secure, varied methods with fast processing times ensure convenience.
    • Customer Support: Responsive, multi-channel assistance resolves issues quickly.
    • Mobile Compatibility: Seamless app or browser play is essential for modern gaming.
    • Security and Fairness: Advanced encryption and third-party audits guarantee safety and integrity.

    7Bit excels across these metrics, solidifying its place among the best online casinos Canada.

    The Selection Process: Defining Excellence in Online Gaming

    Excellence in online gaming, as demonstrated by 7Bit, involves a holistic approach:

    • Player-Centric Design: Intuitive interfaces, fast payouts, and generous bonuses prioritize user satisfaction.
    • Innovation and Updates: Regular game additions and crypto integration keep the platform cutting-edge.
    • Security and Transparency: Robust encryption, provably fair games, and clear terms build trust.
    • Accessibility Across Platforms: Seamless desktop and mobile experiences cater to diverse player needs.This comprehensive strategy positions 7Bit as a leader among the best online casinos in Canada for 2025.

    About Gaming in 7Bit Casino

    Gaming at 7Bit is immersive, intuitive, and endlessly engaging. The user-friendly interface simplifies navigation, allowing players to explore the vast library with ease. Frequent game additions ensure a fresh experience, while high-RTP titles maximize winning potential.

    Whether spinning the best online pokies, strategizing in live dealer games, or enjoying instant win thrills, players benefit from a platform designed for entertainment and fairness. The crypto focus makes 7Bit a best no KYC casino, offering anonymous play without sacrificing security.

    Additional 7Bit Features

    • Loyalty Program: A multi-tiered VIP system offers escalating rewards, including higher cashback percentages, free spins, and dedicated account managers for top-tier players.
    • Seasonal Promotions: Holiday-themed offers, such as Christmas or Halloween bonuses, provide exclusive free spins and deposit matches.
    • Community Engagement: Active Telegram and social media channels deliver real-time updates, exclusive free spins, and a sense of community among players.
    • Low Minimum Deposits: Starting at $10 for fiat and lower for crypto, 7Bit is accessible to players of all budgets.
    • Multi-Currency Accounts: Players can manage balances in multiple currencies, simplifying transactions across fiat and crypto.
    • Eco-Friendly Initiatives: By promoting low-energy crypto transactions, 7Bit appeals to environmentally conscious players, a unique selling point.
    • Cross-Platform Syncing: Progress syncs seamlessly across desktop and mobile, ensuring uninterrupted play.
    • Player Feedback Integration: 7Bit actively incorporates user suggestions, adding requested games and improving features.
    • Crypto Tutorials: Guides for new crypto users simplify deposits and withdrawals, enhancing accessibility.
    • Responsible Gambling Resources: Links to organizations like GamCare and tools like deposit limits promote safe play.
    • High RTP Focus: Many games boast RTPs above 96%, increasing player win potential (Bitcoin Casino Kings).

    Bonuses and Promotions of 7Bit Casino

    7Bit’s welcome bonus is a standout among the best online casinos Canada, offering up to 5.25 BTC + 250 free spins across four deposits:

    • 1st Deposit: 100% match up to 1.5 BTC + 100 free spins
    • 2nd Deposit: 75% match up to 1.25 BTC + 100 free spins
    • 3rd Deposit: 50% match up to 1.5 BTC
    • 4th Deposit: 100% match up to 1 BTC + 50 free spins

    Ongoing promotions include:

    • Weekly Cashback: Up to 20% based on weekly losses, rewarding consistent play.
    • Monday Reload: 25% match up to 6.5 mBTC + 50 free spins, kicking off the week with a boost.
    • Wednesday Free Spins: Up to 100 free spins on Snoop Dogg Dollars, based on deposit size.
    • Friday Bonus: 111 free spins for a 0.52 mBTC deposit, perfect for weekend gaming.
    • Weekend Offer: 99 free spins
    • Telegram Offers: Exclusive bonuses, including 50–111 free spins for specific deposits.
    • Pre-Release Offers: 35 free spins on new titles like Gold Nugget Rush, giving early access to fresh games.
    • Spring Elite Offer: Up to 100 free spins, celebrating seasonal events.

    These promotions make 7Bit a top new online casino, keeping players engaged with frequent rewards (CasinoOnlineCA).

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    Payment Options

    7Bit offers a versatile range of payment methods, catering to all player preferences:

    • Fiat Options:
      • Visa: Secure card payments with quick deposits.
      • Mastercard: Widely accepted for deposits and withdrawals.
      • Interac: Popular in Canada for fast, local transactions.
      • Skrill: E-wallet for rapid transfers.
      • Neteller: Trusted e-wallet with global reach.
      • Paysafe Card: Prepaid option for secure deposits.
      • Bank Transfer: Reliable but slower for withdrawals.
      • Neosurf: Prepaid voucher for anonymous deposits.
      • EcoPayz: Eco-friendly e-wallet with low fees.
      • MuchBetter: Mobile-friendly payment app for quick transactions.
    • Cryptocurrencies:
      • Bitcoin (BTC): Industry-standard for fast, anonymous transactions.
      • Ethereum (ETH): Smart contract-based crypto for secure payments.
      • Litecoin (LTC): Lightweight crypto with low fees.
      • Dogecoin (DOGE): Popular altcoin for microtransactions.
      • Tether (USDT): Stablecoin for consistent value.
      • Binance Coin (BNB): Versatile crypto for fast transfers.
      • Cardano (ADA): An eco-friendly blockchain for secure payments.
      • Ripple (XRP): Low-cost, high-speed transactions.
      • Tron (TRX): Scalable crypto for efficient transfers.
      • Bitcoin Cash (BCH): An enhanced Bitcoin variant for quick transactions.

    Crypto transactions are instant and anonymous, reinforcing 7Bit’s status as a best no KYC casino. Fiat options like Interac and Skrill are also fast, with Pay ID withdrawals processed in under an hour, making 7Bit a leading Pay ID casino.

    Customer Support

    7Bit provides robust 24/7 support through:

    • Live Chat: Instant, multilingual assistance for real-time issue resolution.
    • Email: Detailed support for complex inquiries, with responses typically within 24 hours.
    • FAQ Section: Comprehensive self-help resources covering account management, payments, and bonuses.

    While phone support is absent, the responsive live chat and email systems ensure player satisfaction. The FAQ section is regularly updated based on player queries, reflecting 7Bit’s commitment to user experience, a key trait of the best online casinos Canada.

    Games Available in 7Bit Casino

    7Bit’s expansive library of over 10,000 games includes:

    Slots

    Featuring the best online pokies, with high-RTP titles and diverse themes:

    • Mega Moolah: Progressive jackpot with life-changing payouts, ideal for jackpot hunters.
    • Starburst: Vibrant, fast-paced slot with frequent wins.
    • Book of Dead: Adventure-themed favorite with immersive storytelling.
    • Johnny Cash: Music-inspired slot with engaging features.
    • Raging Lion: Safari-themed game with big win potential.

    Table Games

    Classic and modern variants for strategic players:

    • Blackjack: Includes Classic, Multi-Hand, and European variants for varied gameplay.
    • Roulette: European, American, and French versions with distinct betting options.
    • Baccarat: Punto Banco and Speed Baccarat for quick, elegant play.
    • Craps: Fast-paced dice game with multiple betting strategies.
    • Poker: Texas Hold’em, Caribbean Stud, and Video Poker (Jacks or Better) for skill-based fun.

    Live Dealer Games

    Powered by Evolution Gaming and Pragmatic Play, offering immersive real-time experiences:

    • Live Blackjack: Multi-table options with interactive dealers.
    • Live Roulette: HD streaming for authentic spins, with European and American variants.
    • Live Baccarat: Elegant gameplay with professional croupiers.
    • Live Poker: Casino Hold’em and Three Card Poker for strategic battles.
    • Game Shows: Dream Catcher, Crazy Time, and Monopoly Live for entertainment-driven play.

    Instant Win Games

    Quick-play options for instant thrills:

    • Scratch Cards: Simple games with instant prize reveals.
    • Keno: Number-based game with customizable bets.
    • Bingo: Classic and themed variants for casual fun.

    This diverse selection makes 7Bit a top destination among the best online casinos Canada (Casino.org).

    The Most Popular Pay-out Methods at 7Bit Casino

    The most preferred payout methods at 7Bit include:

    • Cryptocurrencies: Bitcoin, Ethereum, and Litecoin offer instant withdrawals with low fees, ideal for anonymous transactions.
    • E-wallets: Skrill, Neteller, and Interac provide quick processing, typically within 1–24 hours.
    • Pay ID: Near-instant withdrawals, highly popular among Canadian players for speed and convenience.
    • Bank Transfers: Reliable but slower, taking 3–5 days, suitable for larger withdrawals.

    Crypto’s speed and anonymity make it a favorite, aligning with 7Bit’s anonymous online casino appeal. Pay ID’s efficiency further enhances its status as a leading pay ID casino.

    Additional 7Bit Casino Highlights

    • Award Recognition: 7Bit has been nominated for “Best Crypto Casino” in recent industry awards, reflecting its excellence in the crypto gaming space.
    • Global Accessibility: Supports players from multiple countries, with region-specific promotions tailored to Canadian users.
    • High Volatility Options: A dedicated section for high-volatility slots caters to risk-takers seeking big wins.
    • Player-Driven Updates: Regular platform enhancements based on user feedback, such as improved navigation and new game categories.
    • Crypto Staking Rewards: Experimental feature allowing players to earn small rewards by holding certain cryptocurrencies in their 7Bit wallet.
    • Exclusive Game Releases: Early access to new titles from providers like BGaming, often paired with free spins promotions.
    • Social Responsibility: Partnerships with responsible gambling organizations and in-house tools to promote safe play (Bitcoin Casino Kings).

    Final Thoughts On Best Online Casinos Canada

    7Bit Casino, rated 4.8/5 for 2025, offers innovation, security, and entertainment with a vast game library, crypto-friendly platform, instant payouts, and player-focused features. Ideal for free spins, online pokies, or live dealer games, it excels as a leading pay ID and anonymous casino, delivering a secure, rewarding, and cutting-edge experience.

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    Frequently Asked Questions

    1. Is 7Bit Casino legal in Canada?
      Yes, 7Bit Casino is licensed by the Curacao eGaming Commission, making it legal for Canadian players outside Ontario, where iGaming Ontario regulates local operators. Always verify local laws before playing.
    2. What’s the welcome bonus?
      New players can claim up to 5.25 BTC + 250 free spins across four deposits. The bonus is structured to reward initial deposits, with free spins usable on select slots.
    3. How fast are withdrawals?
      Crypto and Pay ID withdrawals are processed instantly, often within minutes. E-wallets like Skrill take 1–24 hours, while bank transfers may require 3–5 days.
    4. Is there a mobile version?
      Yes, 7Bit offers a seamless mobile platform compatible with iOS and Android. Players can access the full game library and manage accounts without downloading an app.
    5. Are there no deposit bonuses?
      Yes, 7Bit occasionally offers no-deposit bonuses, such as free spins for new players or Telegram promotions. Check the promotions page or social channels for updates.
    6. Can I play anonymously?
      Yes, crypto transactions allow anonymous play, requiring minimal personal information. This makes 7Bit a top choice for privacy-conscious players.

    EMAIL: Support@7bitCasino.com

    Disclaimer and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of writing. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee7b7996-5711-4ded-8c48-d7d20368a86a

    The MIL Network –

  • MIL-OSI United Kingdom: DBS launches new ‘Save and Return’ feature for its Barring Referral Service

    Source: United Kingdom – Government Statements

    News story

    DBS launches new ‘Save and Return’ feature for its Barring Referral Service

    DBS are set to launch a new ‘Save and Return’ feature for its online Barring Referral Service, to make submitting a barring referral easier and more convenient.

    The DBS Barring Referral Service is the online route that individuals or organisations who want to make a barring referral can use to submit their referral.

    To improve this service, DBS is launching a new ‘Save and Return’ feature enabling users to save their progress when making referrals and return to complete them at a more convenient time.

    How does the ‘Save and Return’ feature work?

    In order to save a referral and return to it later, users will need a GOV.UK One Login account. GOV.UK One Login is a safe and secure GOV.UK service that is trusted by users of a variety of government services.

    If you don’t have a One Login, you will be directed to create one so you can make use of the new feature and securely save the progress of your barring referral.

    What are the benefits of the ‘Save and Return’ feature?

    The new ‘Save and Return’ feature addresses a key challenge that users were facing, which was that they had to complete referrals in a single session or risk losing their work.

    DBS found that a high percentage of users were not returning to submit a referral after it had been abandoned due to time out or other factors, so being able to save progress will help to address this problem, and help ensure that all necessary referrals are reaching DBS.

    The new feature allows users more time to complete their referrals, as they can securely save their work and return to it later, which will help users of the Barring Referral Service manage their workloads and make completing a barring referral easier and more convenient.

    It is still possible for users to complete their referrals in one session if they wish, but the option to save and return later will add greater flexibility for all.  

    DBS hopes the feature will also have a positive impact on the quality of referrals received, as users now have the option to save their progress and consult with colleagues or gather further information, meaning a more detailed referral can be submitted without time pressure.

    The new ‘Save and Return’ feature is being launched on 1st May, so users will be able to save their referral progress as they go along from this date. 

    How do I make a referral online?

    If you need to make a barring referral online to DBS, you can do so on the Barring Referral Service GOV.UK page.

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Show “Don’t Sleep!” at the Polytechnic: music, interactive and acting performances

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The immersive music show “Don’t Sleep!” was held at the Polytechnic University Student Club. The event was decorated in the “Mafia” style and attracted over 300 guests.

    Several hours of music and interactive tasks, fingerprinting and solving the commissar’s board, acting performances and cut scenes – that’s how rich the show turned out to be. The songs were performed not only for the audience, but also with them. One of the features was the alternate performance of compositions by different groups under the direction of vocalists and the invitation of guests to a white dance.

    Each of us put a part of ourselves into the concert. I especially remember the rehearsals, when we devoted time to improvisation and created music the way we felt it together, — shared third-year student of the State Institute of Music and keyboard player Ekaterina Roslyakova.

    The acting troupe united members of the Polytechnic University Student Theatre and ETU “LETI” students. The participants of the show tried on different roles: a commissioner and his assistant, a doctor, a mayor, a cabaret owner and a crazy fanatic. They had to interact with civilians, who became fewer and fewer by the end of the show, while the number of mafia supporters increased.

    I have never seen such dedication from a team before. Despite the fact that a lot of effort was expended, with such active people it comes easy, – said LETI master’s student and the actor who plays the mayor Kamil Abdrakhmanov.

    The show “Don’t Sleep!” started in 2023 with a concert-house concert featuring members of the vocal studio Polyvox. This year, the event became one of the most anticipated events of April.

    I can’t believe that our show has become so popular! Everyone had an unforgettable experience. Despite the difficulties, this is exactly what we do everything for, and we need to keep moving forward. And the most valuable thing that this project has given me (and, I think, not only me) is the people, our team, the quartet, the community that together is capable of great achievements, – emphasized the vocalist and first-year student of the PISh “CI” Anastasia Sreznevskaya.

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

    MIL OSI Russia News –

  • MIL-OSI USA: 2025 Commencement Speakers and Honorary Degree Recipients

    Source: US State of Connecticut

    From business success to the National Science Foundation, from policymaking in Hartford to the world’s most popular YouTube sneaker channel, from the Chairman of the Mashantucket Pequot Tribal Nation to the President of the Rwanda Academy of Sciences, the honored guests of UConn’s commencement ceremonies bring a wealth of experience, insight, and wisdom to share with this year’s graduates. Speakers at the ceremonies, which begin on Saturday, May 10, include:

    College of Engineering (Saturday, May 10, 9 a.m. at Gampel Pavilion): Mark P. Sarkisian ’83

    Mark Sarkisian is a partner in the San Francisco office of Skidmore, Owings & Merrill LLP. He is a licensed professional engineer and structural engineer in 31 states. In 2021, Sarkisian was elected to the National Academy of Engineering, and is a member of the University of Connecticut Academy of Distinguished Engineers. He received his bachelor’s degree in civil engineering from UConn in 1983, and his master’s degree in structural engineering from Lehigh University. Sarkisian’s career focuses on developing innovative structural engineering solutions for over 100 major building projects around the world, including the Jin Mao Tower in China and the Al Hamra Fidrous Tower in Kuwait, both over 1,300 feet[1]tall. Sarkisian holds 10 U.S. patents and five international patents. Sarkisian has authored over 150 technical papers related to the design of building structures, and in 2012 completed his first book, “Designing Tall Buildings – Structure as Architecture.” He teaches integrated studio design courses focused on collaborative design opportunities at the University of California, Berkeley; California College of the Arts; Stanford University; California Polytechnic State University; Northeastern University; North Carolina State University; and the Pratt Institute.

    School of Nursing (Saturday, May 10, 9 a.m. at Jorgensen Center for the Performing Arts): Joan Y. Reede

    Dr. Joan Y. Reede was appointed as Harvard Medical School’s (HMS) first Dean for Diversity and Community Partnership in January of 2002, and has been responsible for the development and management of a comprehensive program that has provided leadership, guidance, and support to promote the increased recruitment, retention, and advancement of diverse faculty, particularly individuals from groups underrepresented in medicine. This charge includes oversight of all diversity activities at HMS as they relate to faculty, trainees, students, and staff. Reede is a graduate of Brown University and Mount Sinai School of Medicine. She completed a pediatric residency at Johns Hopkins Hospital in Baltimore, Maryland, and a fellowship in child psychiatry at Boston Children’s Hospital. She holds an MPH and an MS in Health Policy Management from Harvard T. H. Chan School of Public Health, and an MBA from Boston University. Reede created and developed more than 20 programs at HMS that aim to address pathway and leadership issues for minorities and women who are interested in careers in medicine, academic and scientific research, and the health care professions. At a national level, Reede’s advice and expertise is highly sought after among several committees and councils, such as being appointed to the Health and Human Services Advisory Committee on Minority Health and serving on the Board of Governors for the Warren Grant Magnuson Clinical Center. She also has many affiliations, including the Task Force for the Annual Biomedical Research Conference for Minority Students, CTSA Women in CTR Interest Group of the NIH, and the American Association for the Advancement of Science STEM Education Review Committee.

    School of Business (Saturday, May 10, 1:30 p.m. at Gampel Pavilion): Richard Eldh ‘81

    Rich Eldh was born in the village of Ardsley, New York, and moved homes five times between the ages of 5 and 15. He attended Staples High School in Westport, graduating as a three-sport athlete and an all-state football player. After high school, he enrolled at the University of Connecticut. In what would have been his junior year, 1978–1979, he took a leave of absence to travel abroad, living in Kempten, Germany, in Bavaria. There, he worked at Dixie Union, a manufacturing company, as a computer programmer, where he developed new automation software for the finance department. This experience in Germany highlighted the significant impact computing technology would have on business. Motivated by this realization, he decided to pursue a career in the computer industry. Upon returning to the University of Connecticut for his final two years, he majored in finance at the School of Business and graduated in 1981 with a degree in Finance. He first joined a manufacturing firm implementing automation software, then moved to Four Phase Systems, a Motorola company, selling data entry systems. Later, he joined Hewlett-Packard, specializing in manufacturing systems and automation. It was at HP that he met his wife; they married and started a family. After working for two very large corporations, Rich joined a startup called Gartner Group in Stamford. He was the 100th employee, and in ten years, the company grew from $9 million in revenue to just under $1 billion with 4,500 employees. Today, Gartner boasts a market cap of $38 billion with 21,000 employees. These early career highlights led Rich to co-found Sirius Decisions, which became a leader in high-performance go-to[1]market research and benchmarking. Headquartered in Wilton, Sirius Decisions grew to 400 employees with private equity backing and offices worldwide. The company was eventually monetized for approximately $300 million through a sale to a public company in Boston. Throughout his career, he has had the honor of working with associates and clients across more than 50 countries. Alongside his career, Rich and his wife Joyce raised two daughters and a son. They have each found success in the medical field, the fashion world, and the blockchain and crypto industry, respectively.

    School of Social Work (Saturday, May 10, 1:30 p.m. at Jorgensen Center for the Performing Arts): Maggie Mitchell Salem

    Maggie Mitchell Salem joined IRIS as Executive Director in January 2024. Throughout her nearly 30-year career, Maggie has managed diverse teams focused on civic education, intercultural dialogue, social and political rights, and forced displacement. She arrived in Connecticut following three years leading the National Democratic Institute’s democratic governance program in Tunisia. Given the exponential increase in the number of refugees, humanitarian parolees, and other immigrants that IRIS assists, Maggie has focused on organizational structure, systems, and policies that create a strong foundation for the organization’s continued growth. Her previous experience at Global Refuge (formerly Lutheran Immigration & Refugee Services) and Fugees Academy have underscored the importance of collaborative, communicative leadership and management. For more than a decade, she was the founding executive director of Qatar Foundation International and expanded Arabic language and culture education to public K-12 schools across the U.S., UK, and Germany. As the Regional Director for the Middle East and North Africa at the International Foundation for Electoral Systems (IFES), she expanded or created new programs in Jordan, Iran, and Iraq. Maggie started up and led the Middle East Institute’s Communications Department from 2001-2004. She also served as a U.S. Foreign Service Officer in Mumbai and Tel Aviv, and as staff on the Executive Secretariat of Secretary of State Madeleine Albright. Maggie was a Fulbright Scholar in Syria while studying for her Masters in Contemporary Arab Studies at Georgetown University. She received a bachelor’s degree in political science and psychology from Johns Hopkins University. She has two sons and two daughters. She lives with her six dogs and two cats in East Haddam.

    Bachelor of General Studies (Saturday, May 10, 2 p.m. at Student Union Theater): Daniel Mercier ‘95

    Daniel Mercier graduated from the Bachelor of General Studies program in 1995 with a focus in Visual Communications. After serving as a Graphics Specialist for a few years, Mercier returned to UConn in 1998 as a Media Producer. In 2001, he transitioned to the role of Instructional Developer in the Instructional Design and Development Department. After completing a Master of Arts in Educational Technology in 2003, Mercier became Manager of Instructional Design and Development and ultimately served as Assistant Director and Director of the Institute of Teaching and Learning. In 2015, he took on the role of Director, Instructional Design, in the Center for Pedagogical Innovation at Wesleyan University. In 2017, Mercier returned to UConn as the Director of Academic Affairs at the Avery Point Campus of the University of Connecticut. Throughout his 30-plus-year career, Mercier has demonstrated an unwavering commitment to the development of instructional tools, to help faculty utilize technologies to reach our students. In his work, he has supported faculty, staff and students across the higher education landscape. His commitment to the University of Connecticut spans nearly 25 years. In his current position, he recruits faculty, oversees academic advising and other academic support programs, and develops partnerships between the Avery Point campus and other academic entities within and outside UConn. These partnerships include the support of students in the Bachelor of General Studies Program.

    College of Agriculture, Health and Natural Resources (Saturday, May 10, 6 p.m. at Gampel Pavilion): Rodney Butler ’99 (BUS)

    Rodney A. Butler is the Chairman of the Mashantucket Pequot Tribal Nation (MPTN) since January 2010. Butler’s service on Tribal Council began in 2004, and after one year, he was appointed Tribal Council Treasurer; a position he held through 2009. During his tenure, Butler chaired the Tribe’s Finance, Housing, and Judicial Committees, the MPTN Utility Authority, and served as an Interim CEO for Foxwoods Resort Casino. Butler earned his Bachelor’s Degree in Finance from the University of Connecticut where he played Defensive Back for the UConn Huskies football team. Prior to Tribal Council, Butler worked in the finance department at Foxwoods Resort Casino. He later became Chairman of the Tribal Business Advisory Board; an executive body responsible for overseeing the Tribe’s non-gaming businesses and commercial properties. Butler was actively involved in multiple resort expansions at Foxwoods, as well as community development initiatives on the Reservation, the establishment of the Mashantucket (Western) Pequot Tribe Endowment Trust, and the legalization of Sports Betting and iGaming in the state of Connecticut. He was also a participant in Harvard Business School’s program “Leading People and Investing to Build Sustainable Communities.” He is a regular speaker on national panels related to Native American issues. Butler presently serves on the Board of Directors for Mashantucket Pequot Interactive and is on the board of Foxwoods El San Juan Casino. He also serves as the President of Native American Finance Officers Association (NAFOA), as Alternate Vice President for the National Congress of American Indians, and on the boards for the United South and Eastern Tribes, Indian Gaming Association, American Gaming Association, the Mystic Aquarium, and the United Way of Southeastern Connecticut. He is the 2019 recipient of the Citizen of the Year award from the Eastern Connecticut Chamber of Commerce, and the National Indian Gaming Association’s John Kieffer Sovereignty Award. In 2018, he received the St. Edmund’s Medal of Honor Award from the Enders Island Retreat Center. In 2017, Butler was appointed “Tribal Leader of the Year” by the NAFOA. As Chairman, Butler’s primary focus is to ensure long-term stability for the Tribe’s citizens, government, and business enterprises.

    School of Fine Arts (Saturday, May 10, 6 p.m. at Jorgensen Center for the Performing Arts): Jacob G. Padrón

    Jacob G. Padrón is the Artistic Director of Long Wharf Theatre in New Haven. He is also the Founder and Artistic Director of The Sol Project, a national theater initiative that works in partnership with leading theater companies to amplify the voices of Latino playwrights in New York City and beyond. Padrón has held senior-level artistic positions at theater companies across the country. He was the Senior Line Producer at The Public Theater where he worked on new plays, new musicals, Shakespeare in the Park, and Public Works. He was formerly the Producer at Steppenwolf Theatre Company in Chicago where he supported the artistic programming in the Garage – Steppenwolf’s dedicated space for new work, new artists, and new audiences. From 2008 to 2011, he was an Associate Producer at the Oregon Shakespeare Festival where he was instrumental in producing all shows in the 11-play repertory. Under the guidance of his late mentor Diane Rodriguez, he served as the producer of Suzan-Lori Parks’ “365 Days/365 Plays” for Center Theatre Group, a collaboration that included over 50 theater companies to launch Festival 365 in Los Angeles. He is a co-founder of the Artist Anti-Racism Coalition, a grassroots movement committed to dismantling structural racism within the Off-Broadway community. Jacob is a graduate of Loyola Marymount University (B.A.) and David Geffen School of Drama (M.F.A.). His first artistic home was El Teatro Campesino located in San Juan Bautista, California.

     

    College of Liberal Arts and Sciences, Ceremony I (Sunday, May 11, 9 a.m. at Gampel Pavilion): Maureen Ahern ‘85

    Maureen Ahern is an Executive Leadership Coach on her third career whose journey began in the same classrooms as today’s graduates. A proud Husky who earned both a Bachelors and a Masters, Maureen’s connection to UConn runs deep. For over 10 years, she returned to UConn Stamford each week as an Adjunct Professor, teaching Interpersonal Communications and Public Speaking after her corporate day job in New York, driven by her belief that becoming a great communicator gives you the power and confidence to take meaningful action to shape your future. Maureen started as a Sales Executive at The Associated Press and quickly rose to lead the Satellite Networks division before transitioning to Standard and Poor’s Comstock. At S&P she led many different departments as Director of Operations, VP of US Sales and Managing Director for Asian and South American markets, building successful international relationships while traveling the world. She was part of the management team that sold Comstock to IDC and then pivoted from corporate into the digital world, as Partner and COO of momAgenda, where she helped build a thriving e-commerce company. Drawing on her teaching background, leadership experience and desire to coach and mentor others, Maureen completed her leadership coaching certification at Georgetown University’s Transformational Leadership Institute. Today as Founder of Ahern Leadership Coaching and Consulting, Maureen partners with C-suite executives and emerging leaders across industries, facilitating leadership development through one-on-one coaching, team coaching, and specialized training and leadership development workshops. Her coaching philosophy – described by clients as “tough but loving”-centers on her belief that leaders aren’t born, they are made and that everyone has leadership capacity waiting to be unlocked through awareness, action and courage. Maureen was a mentor with the Freshman Founders Program at the Werth Institute at UConn Stamford, in addition to her volunteer work with CT NEXT and Startup Westport as a business mentor. She is also an angel investor with Tidal River Fund whose goal is to fund underrepresented founders. When not working with her clients whom she loves and adores, Maureen enjoys yoga, beach walks, and time with her three adult children (Patrick, Brendan and Caeleigh). She shares life in Cos Cob with her husband Mike Santini (fellow UConn grad) and their black lab, Nino.

    Neag School of Education (Sunday, May 11, 9 a.m. at Jorgensen Center for the Performing Arts): Suzanne M. Wilson

    Suzanne M. Wilson is the Neag Endowed Professor of Teacher Education at the University of Connecticut’s Neag School of Education, where she also serves as a professor in the Department of Curriculum and Instruction. Her undergraduate degree is in history and American studies from Brown University; she also has an M.S. in statistics and a Ph.D. in psychological studies in education from Stanford University. She was a University Distinguished Professor in the Department of Teacher Education at Michigan State University, where she served on the faculty for 26 years. Wilson also served as the first director of the Teacher Assessment Project, which developed prototype assessments for the National Board for Professional Teaching Standards. Wilson is a committed teacher, having taught undergraduate, master’s, and doctoral classes in educational policy, teacher learning, and research methods. She has directed 36 dissertations and served as a committee member for another 45. Wilson serves on multiple editorial and advisory boards. She was elected to the National Academy of Education in 2013 and to the American Academy of Arts and Sciences in 2022. Wilson has written on teacher knowledge, qualitative methods, curriculum reform, educational policy, and teacher preparation and professional development. She has published in Science, American Educator, American Educational Research Journal, Educational Researcher, Review of Educational Research, Elementary School Journal, Teaching and Teacher Education, Journal of Teacher Education, Phi Delta Kappa, and Teaching Education. She is the author of “California Dreaming: Reforming Mathematics Education” (Yale, 2003) and editor of Lee Shulman’s collection of essays, “Wisdom of Practice: Essays on Teaching, Learning, and Learning to Teach” (Jossey-Bass, 2004). She is currently working on a collection of essays entitled, “Why Teach?”

    College of Liberal Arts and Sciences Ceremony II (Sunday, May 11, 1:30 p.m. at Gampel Pavilion): Joe La Puma ‘05

    Joe La Puma serves as SVP of Content Strategy at Complex NTWRK and hosts Complex’s Sneaker Shopping, the world’s No. 1 sneaker show, which has garnered over 1 billion views on YouTube. He has been at the forefront of sneaker and street culture at Complex for the past 15 years. La Puma started his journalism career writing for The Daily Campus and was voted “Rookie of the Year” by fellow staffers. After graduating from UConn in 2005 with a degree in Journalism, he returned to Bay Shore to manage The Finish Line—where he previously worked in high school—while contributing articles to both local and global publications like Newsday and Hypebeast.com. In 2006, La Puma landed an internship at Complex magazine, a pop culture publication specializing in convergence culture through hip-hop, sneakers, and fashion. La Puma has written more cover stories (21) than any other writer in Complex history, including profiles on Justin Bieber, Katy Perry, and Kid Cudi. La Puma is also a published author of the book “Complex Presents: Sneaker of the Year: The Best Since ’85.” In his current SVP role, La Puma has led Complex to over 200% growth in audience and engagement. In 2014, Complex debuted the YouTube show Sneaker Shopping, a series that La Puma created and hosts to this day. Over the past decade of Sneaker Shopping, La Puma has interviewed icons like Eminem, Whoopi Goldberg, Kevin Hart, Mark Wahlberg, Billie Eilish, Cristiano Ronaldo, David Beckham, and conducted one of the only lifestyle interviews with former Vice President Kamala Harris during the 2020 election cycle. The show has filmed episodes across the U.S., as well as abroad in China, England, Spain, and Japan. With his extensive editorial work on footwear and over 300 episodes of Sneaker Shopping, La Puma is regarded as one of the foremost sneaker experts in the world. La Puma is a three-time Webby Award winner and has been featured on Good Morning America, and The Tonight Show With Jimmy Fallon. In 2024, La Puma was inducted into the Bay Shore High School Hall of Fame, a group that includes only 79 members since the school opened in 1893. La Puma currently lives in Brooklyn, and takes half-days at work when he can during UConn Basketball March Madness runs.

    School of Pharmacy – Doctor of Pharmacy (Sunday, May 11, 1:30 p.m. at Jorgensen Center for the Performing Arts): JoAnn Trejo

    JoAnn Trejo, Ph.D., MBA is professor of pharmacology and senior assistant Vice Chancellor for Health Sciences Faculty Affairs at the University of California (UC) San Diego. She completed her undergraduate degree at UC Davis, earned her Ph.D. and MBA at UC San Diego and completed postdoctoral training at UC San Francisco. Trejo is a basic science researcher with expertise in cell signaling in the context of vascular inflammation and cancer. Her research has been published in more than 100 peer-reviewed articles and she is a recipient of a NIH R35 Maximizing Investigators’ Research Award (MIRA) and the American Heart Association Established Investigator Award. Trejo is an outstanding educator, mentor and a leader actively engaged in initiatives aimed at enhancing excellence in science and pharmacology. She is the director of five NIH-supported training programs including the UC San Diego IRACDA Postdoctoral Scholars Program, FIRST Program and three early career faculty development programs. Trejo served as an elected member of the leadership Council for the ASCB and the American Society for Biochemistry and Molecular Biology and is a current member of the scientific advisory boards for Septerna and Versiti. She has also served on multiple NIH Study Sections, the NCI Board of Scientific Counselors for Basic Sciences, and Blavatnik, HHMI and Chan Zuckerberg foundation review panels. Trejo is a current member of the NIGMS Advisory Council. She is the Associate Editor for Molecular Biology of the Cell and is an editorial board member for Proceedings National Academy of Sciences Nexus, Journal of Biological Chemistry and Molecular Pharmacology. Trejo is an elected member of the National Academy of Medicine, American Society for Cell Biology (ASCB) Fellow and 100 Inspiring Hispanic / Latinx Scientists and was recently elected honorary fellow of the British Pharmacological Society.

    College of Liberal Arts and Sciences Ceremony III (Sunday, May 11, 5:30 p.m., Gampel Pavilion): Joe La Puma ‘05

    School of Pharmacy – Bachelor of Science (Sunday, May 11, 6 p.m., Jorgensen Center for the Performing Arts): Joe Honcz ‘98

    Joe Honcz is a distinguished expert in managed care and market access, boasting a robust 25-year career that spans significant sectors of the health care industry. Early in his career, he played a pivotal role in leading teams for the launch of Medicare Part D, followed by instrumental involvement in the implementation of the Affordable Care Act while at Anthem BCBS and Aetna. Since 2020, Joe has leveraged his profound understanding of managed care to deliver strategic market access insights, empowering over 20 biotech and pharmaceutical clients to effectively navigate complex market dynamics. His contributions have been crucial in the successful launch of innovative products in both traditional and rare/orphan disease categories. As a “pharmacy futurist,” he continues to drive innovation and shape market access strategies at Petauri Health, supporting the emerging pharmaceutical and health tech industries. His exceptional ability to anticipate industry trends has consistently provided clients with strategic advantages, enabling them to stay ahead of competitors with foresight and precision. Beyond his professional endeavors, Joe is actively involved at Yale Ventures as an Entrepreneur-in-Residence and at the University of Connecticut Technology Commercialization Services in the same capacity. He has also served as an Adjunct Professor at the University of St. Joseph School of Pharmacy and is on the Board of Directors for the Academy of Managed Care Pharmacy (AMCP) and Avery’s Little Army, whose mission is to honor the legacy of Avery Marie Lafferty, an exceptionally brave cancer rebel, and all patients like her. Joe’s extensive background is complemented by diverse roles at Pfizer, Walgreens, Humana, PrecisionAQ, and CVS. He holds a Bachelor of Science in Pharmacy and a Master of Business Administration with a concentration in Marketing from the University of Connecticut, underscoring his deep roots and commitment to the field. In addition to being a Board member, he is also an AMCP diplomat to the UConn School of Pharmacy, where he fulfills his passion for mentoring and coaching.

    The Graduate School – Masters Ceremony (Monday, May 12, 9 a.m. at Gampel Pavilion): Manasse Mbonye ’95 Ph.D.

    Manasse Mbonye is a Founding Fellow of the Rwanda Academy of Sciences (RAS) and its current President. He is also the Group Leader and Professor, Rwanda Astrophysics Space and Climate Sciences Research Group (RASCSRG) at the University of Rwanda and a member of the national Science Advisory Group (SAG). By Training, Mbonye is a theoretical Astrophysicist and Cosmologist. He completed his Ph.D. from the University of Connecticut in 1995. Mbonye has taught Physics at various institutions including UConn, the University of Michigan, and RIT. He has also worked at NASA (Goddard Space Flight Center). In 2012, Mbonye returned to Africa. Since then, his appointments have included, Provost (later) Ag Rector (National University of Rwanda), the first Principal (University of Rwanda, College of Science and Technology), and Executive Secretary (Rwanda’s National Council for Science and Technology, (NCST)). During Mbonye’s tenure, NCST instituted a major review of Rwanda’s Science, Technology, Research and Innovation (STRI) policy. Further, the National Research and Innovation Agenda (NRIA) was constructed, along with its implementation enabler, the National Research and Innovation Fund (NRIF) framework. Rwanda launched the NRIF in June 2018. Mbonye has served on the East African Science and Technology Commission (EASTCO) Board of Directors as its Rapporteur (2017-2018). He has also been Chairman of the Rwanda Energy Group (REG) (2015-2018), Rwanda’s sole electric energy production source and utility company. Prof. Mbonye continues to do research and supervise students, at the University of Rwanda.

     

    UConn Health (Monday, May 12, 1 p.m. at Jorgensen Center for the Performing Arts): Manisha Juthani

    Dr. Manisha Juthani, is the Commissioner of the Connecticut Department of Public Health (DPH). Juthani is the first Indian American to serve as a commissioner in the State of Connecticut. She served as professor of medicine at Yale School of Medicine through September 2024 and currently serves as an adjunct professor of medicine. She served as Director of the Infectious Diseases Fellowship Program from 2012 to 2021. Juthani received her B.A. from the University of Pennsylvania and M.D. from Cornell University Medical College, completed Internal Medicine residency training at New York-Presbyterian Hospital/Weill Cornell campus, and served as chief resident at Memorial-Sloan Kettering Cancer Center. She came to Connecticut in 2002 as an Infectious Diseases fellow at Yale School of Medicine. During the COVID-19 pandemic, Juthani was a leader in the COVID response at Yale which led to her appointment as Commissioner of CT DPH in 2021. In the early days of the pandemic, she was a voice to help educate the public in both local and national media outlets, a role she was able to expand in her role as Commissioner. Upon joining CT DPH, she helped guide Connecticut out of the pandemic and worked to revitalize areas of public health, such as gun violence, maternal health, opioid use, and sexually transmitted diseases, that were exacerbated during the pandemic. As she continues in her role as DPH Commissioner, Juthani has shifted her core vision to “Preserve and Protect Core Public Health Principles and Services.” As Connecticut is presented with new public health challenges, she remains committed to preserving public health achievements made over the years, including improvements in regulatory oversight in health care, drinking water, and environmental health which includes food safety. It is more important than ever to highlight the importance of vaccines, control of infectious diseases, road safety, and healthier mothers and babies. Clear, accurate communication about public health risks is vital to her mission. She continues to advocate for health as a human right which is the core vision of CT DPH. Juthani is on the Board of Directors of UConn Health.

    The Graduate School – Doctoral Ceremony (Monday, May 12, 6 p.m. at Jorgensen Center for the Performing Arts): Sethuraman Panchanathan

    Sethuraman “Panch” Panchanathan is a computer scientist and engineer who served as the 15th director of the United States National Science Foundation (NSF) from 2020 until 2025. Panchanathan was nominated to by the president in 2019 and unanimously confirmed by the Senate on June 18, 2020. NSF is a $9.06 billion independent federal agency, and the only government agency charged with advancing all fields of scientific discovery, technological innovation and science, technology, engineering and mathematics education.

    Panchanathan previously served as the executive vice president of the Arizona State University (ASU) Knowledge Enterprise, where he was also chief research and innovation officer. He was also the founder and director of the Center for Cognitive Ubiquitous Computing at ASU. Under his leadership, the university increased research performance fivefold, earning recognition as the fastest growing and most innovative research university in the U.S.

    Prior to joining NSF, Panchanathan was appointed by the president to serve on the National Science Board, where he was a chair of the Committee on Strategy and a member of the External Engagement and National Science and Engineering Policy committees. Additionally, he was chair of the Council on Research of the Association of Public and Land-grant Universities and co-chair of the Extreme Innovation Taskforce of the Global Federation of Competitiveness Councils. Arizona’s governor appointed Panchanathan as senior advisor for science and technology in 2018. He was the editor-in-chief of the Institute of Electrical and Electronics Engineers (IEEE) MultiMedia magazine and editor and associate editor of several international journals.

    For his scientific contributions, Panchanathan has received numerous awards, including honorary doctorates from prestigious universities, distinguished alumni awards, the Governor’s Innovator of the Year for Academia Award, the Washington Academy of Sciences Distinguished Career Award and the IEEE-USA Public Service Award.

    Panchanathan is a member of the National Academy of Engineering and a fellow of the National Academy of Inventors, where he also served as vice president for strategic initiatives. He is also a fellow of the American Association for the Advancement of Science, the Canadian Academy of Engineering, the Association for Computing Machinery, IEEE and the Society of Optical Engineering.

    School of Law (Sunday, May 18, 10:30 a.m. at UConn School of Law): Mayor Arunan Arulampalam

    The son of Sri Lankan refugees, Arunan Arulampalam was born in Zimbabwe and made a home and a family in Hartford after graduate school. Prior to being elected mayor of Hartford in November 2023, he served as CEO of the Hartford Land Bank, where he developed a first-in-the-nation program to train Hartford residents to become local developers and tackle blight in their city. Arulampalam served in Governor Ned Lamont’s administration as Deputy Commissioner of the Connecticut Department of Consumer Protection. Before that, he was a lawyer at the downtown firm Updike, Kelly & Spellacy, P.C. Arulampalam also served on the Board of the Hartford Public Library, the House of Bread, and on the Hartford Redevelopment Authority. He earned his BA in International Studies from Emory University and his JD from Quinnipiac University School of Law.

    MIL OSI USA News –

  • MIL-OSI China: Xi extends condolences to Iranian president over severe explosion

    Source: People’s Republic of China – State Council News

    BEIJING, April 29 — Chinese President Xi Jinping on Tuesday extended condolences to Iranian President Masoud Pezeshkian over the severe explosion at a port in the country.

    Xi said he was deeply grieved to learn that a massive explosion at Shahid Rajaee Port in the southern Iranian city of Bandar Abbas caused heavy casualties.

    On behalf of the Chinese government and people, Xi mourned the victims and offered sincere sympathies to the injured and the bereaved families.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Statement: Maggie Chapman

    Source: Scottish Greens

    29 Apr 2025 Equality

    Trans rights are human rights today, tomorrow and always.

    More in Equality

    Speaking after the Equalities, Human Rights and Civil Justice Committee voted against Tess White MSPs’ motion to remove her from the Committee, Maggie Chapman said:

    “I am grateful that the Committee has rejected this motion and the attempt to remove me.

    “I am also very grateful to the many trans and non-binary people and allies who have been in touch with me over the last two weeks to tell me their stories.

    “It’s been devastating to hear about the exclusion and prejudice they or their loved ones have faced, and how worried they are for the future.

    “The focus should not be on me, it should be on the outcomes of the ruling and the serious threat that is being posed to the rights of trans and non-binary people.

    “I have never questioned the Court’s right to make the ruling that it did. But that does not mean that I must agree with it. I don’t, and I am very concerned about the impact it will have and is already having.

    “Over recent years a toxic culture war has seen trans people and their loved ones being targeted and demonised by too many politicians and large parts of the media.

    “I will always stand up and advocate for trans and non-binary people. Not just because it is the right thing to do, but because it is also my job to stand up for my constituents.

    “Some of my constituents are trans or non-binary. Others have trans or non-binary children, parents, siblings, friends. They deserve representation as who they are. I will not stop being a vocal trans ally.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Greens to stand in Hamilton, Larkhall and Stonehouse by-election

    Source: Scottish Greens

    29 Apr 2025

    Every vote for the Scottish Greens is a vote for people and planet.

    The Scottish Greens have announced that they will be standing in the Hamilton, Larkhall and Stonehouse by-election on June 5th. 

    The Green candidate, Ann McGuinness, is a voice for equality and climate action in South Lanarkshire and beyond.

    Ann is a director of a charity which promotes rural connections and champions rural diversity. Her own lived experiences of poverty and disability provide her with valuable insight into the challenges faced by many whose voices are often unheard in our public discourse.

    A dedicated feminist and environmental justice campaigner, Ann is a mum of two and has championed climate education. Ann has a strong track record of working across party lines to support women in politics, and is a co-convenor of the Scottish Greens Women’s Network.

    Ann McGuinness said:

    “I am proud to have been selected to stand in the upcoming by-election in Hamilton, Larkhall and Stonehouse.

    “I will spend the weeks ahead speaking to as many people as possible across the constituency, to discuss their hopes for their children and their future, the strength and value of their communities and the everyday challenges that they face.

    “Every vote for the Scottish Greens will be a positive vote for a fairer and greener Scotland and a brighter future for Hamilton, Larkhall and Stonehouse.

    “If we are to build a truly just and green future we need to empower every town and village and ensure that no one is left behind.”

    Scottish Green Co-Leader Patrick Harvie said:

    “None of us want this by-election to be taking place. It should be a positive and respectful contest, and one that lives up to the values that Christina McKelvie lived by.

    “By voting for Ann, the people of Hamilton, Larkhall and Stonehouse have the opportunity to elect an experienced campaigner for equality and environmental justice who will prioritise people and planet.”

    MIL OSI United Kingdom –

  • MIL-OSI: CECO Environmental Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Numerous Financial Records Reflect Strength of Well-Positioned Portfolio
    Company Maintains Full Year Outlook

    ADDISON, Texas, April 29, 2025 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO) (“CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the first quarter of 2025.

    First Quarter Summary(1)

    • Orders of $227.9 million, up 57 percent
    • Backlog of $602.0 million, up 55 percent
    • Revenue of $176.7 million, up 40 percent
    • Gross profit margin of 35.2 percent; Gross margin of $68.0 million, up 28 percent
    • Net income of $36.0 million; non-GAAP net income of $3.5 million
    • GAAP EPS (diluted) of $0.98; non-GAAP EPS (diluted) of $0.10
    • Adjusted EBITDA of $14.0 million, up 6 percent
    • Free cash flow of $(15.1) million, down $13.2 million

    (1) All comparisons are versus the comparable prior year period, unless otherwise stated.
    Reconciliations of GAAP (reported) to non-GAAP measures are in the attached financial tables.

    Todd Gleason, CECO’s Chief Executive Officer commented, “We started 2025 with outstanding first quarter record orders of $228 million, which helped drive new record levels of backlog and revenue for the company. This is a powerful statement on the strength of our well-positioned portfolio, which is closely aligned to key long-term growth themes of industrial manufacturing reshoring, electrification, power generation, natural gas infrastructure, and industrial water investments. This marks the second consecutive quarter with bookings greater than $200 million, which has enabled our backlog to exceed $600 million for the first time in Company history. With our order pursuit pipeline now over $5 billion, we remain highly confident in our continued growth outlook.”

    First quarter operating income was $61.9 million, up $54.2 million when compared to $7.7 million in the first quarter 2024. On an adjusted basis, non-GAAP operating income was $8.6 million, down $1.6 million or 16 percent when compared to $10.2 million in the first quarter of 2024. Net income was $36.0 million in the quarter, up $34.5 million compared to $1.5 million in the first quarter 2024. Non-GAAP net income was $3.5 million, down $0.5 million when compared to $4.0 million in the first quarter 2024. Adjusted EBITDA of $14.0 million, reflecting an Adjusted EBITDA margin of 7.9 percent, was up 6 percent compared to $13.2 million in the first quarter 2024. Free cash flow in the quarter was $(15.1) million, down $13.2 million compared to $(1.9) million in the first quarter of 2024.

    “In the first quarter, we introduced strategic price actions to address preliminary tariff impacts. Additionally, to proactively manage our record backlog and robust project pipeline, we selectively pulled-in some inventory purchases and added key operational and customer-centric personnel to maintain the highest level of project execution. These additions drove incremental engineering, project management and business development costs during the first quarter as well as utilizing additional cash. This had the effect of depressing Adjusted EBITDA in the quarter, but these proactive measures were important to better position CECO for executing on our record backlog. Starting in Q2 2025, we will take strategic cost actions associated with eliminating redundant general and administrative roles and expenses resulting from our programmatic M&A and will expand our ongoing productivity and efficiency initiatives. We expect the benefits from these actions, when combined with continued strong volume growth, will underpin operating margin expansion throughout the year,” added Gleason.

    2025 Full Year Guidance

    For the full year 2025 outlook, the Company maintains its expectation to deliver Revenue of $700 to $750 million, up approximately 30 percent at the midpoint year and maintains its expected range for Adjusted EBITDA of $90 to $100 million, up approximately 50 percent at the midpoint versus 2024. The Company maintains its 2025 adjusted free cash flow to be between 60 and 75 percent of Adjusted EBITDA.

    “We are very pleased with the strong start to the year as our industrial air, industrial water and energy transition businesses continue to drive growth through our operating model leveraging their respective niche leadership positions, and flexible business models. Our record backlog and opportunity pipeline provide me with confidence in achieving our growth targets for the year. While we recognize we are in a very dynamic environment which makes it difficult to predict the impact tariffs and other related uncertainties might have on the economy and on our operations, we believe that our direct exposure to tariff-related imports is relatively modest. CECO is comparatively well-positioned as we execute and manufacture a majority of our business in the same regions in which we sell. At present, this aspect of our business design and operating model, coupled with the cost actions we have taken, allows us to maintain our full year outlook – but we are monitoring the economic situation and working with our supply chain to aggressively manage any additional cost expenses which might arise over the course of the year,” concluded Gleason.

    EARNINGS CONFERENCE CALL

    A conference call is scheduled for today at 8:30 a.m. ET to discuss the first quarter 2025 financial results. Please visit the Investor Relations portion of the website (https://investors.cecoenviro.com) to listen to the call via webcast. The conference call may also be accessed by visiting https://edge.media-server.com/mmc/p/tvr2idgu.

    A replay of the conference call will be available on the Company’s website for a period of one year. The replay may also be accessed by visiting https://edge.media-server.com/mmc/p/tvr2idgu.

    ABOUT CECO ENVIRONMENTAL

    CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water and energy transition markets globally providing innovative solutions and application expertise. CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. CECO solutions improve air and water quality, optimize emissions management, and increase energy efficiency for highly-engineered applications in power generation, midstream and downstream hydrocarbon processing and transport, electric vehicle production, polysilicon fabrication, semiconductor and electronics, battery production and recycling, specialty metals and steel production, beverage can, and water/wastewater treatment and a wide range of other industrial end markets. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
    investor.relations@onececo.com

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors, LLC
    214-872-2710
    investor.relations@onececo.com

    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED BALANCE SHEETS
    (unaudited)
     
    (in thousands, except per share data)   March 31,
    2025    		     December 31,
    2024    		  
    ASSETS            
    Current assets:            
    Cash and cash equivalents   $ 146,471     $ 37,832  
    Restricted cash     205       369  
    Accounts receivable, net allowances of $8,663 and $8,863     152,405       159,572  
    Costs and estimated earnings in excess of billings on uncompleted contracts     83,335       69,889  
    Inventories     52,919       42,624  
    Prepaid expenses and other current assets     36,910       16,859  
    Prepaid income taxes     3,856       3,826  
    Total current assets     476,101       330,971  
    Property, plant and equipment, net     46,063       33,810  
    Right-of-use assets from operating leases     24,419       25,102  
    Goodwill     274,769       269,747  
    Intangible assets – finite life, net     109,250       74,050  
    Intangible assets – indefinite life     9,559       9,466  
    Deferred income taxes     210       966  
    Deferred charges and other assets     16,724       15,587  
    Total assets   $ 957,095     $ 759,699  
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Current liabilities:            
    Current portion of debt   $ 1,673     $ 1,650  
    Accounts payable     109,504       109,671  
    Accrued expenses     59,176       47,528  
    Billings in excess of costs and estimated earnings on uncompleted contracts     87,870       81,501  
    Notes payable     700       1,700  
    Income taxes payable     19,831       2,612  
    Total current liabilities     278,754       244,662  
    Other liabilities     4,314       14,362  
    Debt, less current portion     338,037       217,230  
    Deferred income tax liability, net     26,481       11,322  
    Operating lease liabilities     19,458       20,230  
    Total liabilities     667,044       507,806  
    Commitments and contingencies (See Note 14)            
    Shareholders’ equity:            
    Preferred stock, $.01 par value; 10,000 shares authorized, none issued     —       —  
    Common stock, $.01 par value; 100,000,000 shares authorized, 35,250,489 and
    34,978,009 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively    		     352       349  
    Capital in excess of par value     255,807       255,211  
    Retained earnings     42,554       6,570  
    Accumulated other comprehensive loss     (12,922 )     (14,441 )
    Total CECO shareholders’ equity     285,791       247,689  
    Noncontrolling interest     4,260       4,204  
    Total shareholders’ equity     290,051       251,893  
    Total liabilities and shareholders’ equity   $ 957,095     $ 759,699  
    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited)
     
        Three months ended March 31,  
    (in thousands, except per share data)   2025     2024  
    Net sales   $ 176,697     $ 126,332  
    Cost of sales     114,535       81,200  
    Gross profit     62,162       45,132  
    Selling and administrative expenses     53,542       34,908  
    Amortization expenses     3,096       2,156  
    Acquisition and integration expenses     8,143       190  
    Gain on sale of Global Pump Solutions business     (64,502 )     —  
    Other expenses     13       192  
    Income from operations     61,870       7,686  
    Other expense, net     (594 )     (1,513 )
    Interest expense     (6,217 )     (3,413 )
    Income before income taxes     55,059       2,760  
    Income tax expense     18,617       667  
    Net income     36,442       2,093  
    Noncontrolling interest     (458 )     (585 )
    Net income attributable to CECO Environmental Corp.   $ 35,984     $ 1,508  
    Earnings per share:            
    Basic   $ 1.03     $ 0.04  
    Diluted   $ 0.98     $ 0.04  
    Weighted average number of common shares outstanding:            
    Basic     35,028,301       34,846,163  
    Diluted     36,689,320       36,177,323  
    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Three months ended March 31,  
    (in thousands)   2025     2024  
    Cash flows from operating activities:            
    Net income   $ 36,442     $ 2,093  
    Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
    Depreciation and amortization     5,115       3,512  
    Unrealized foreign currency gain (loss)     (1,142 )     149  
    Gain on sale of Global Pump Solutions business     (64,502 )     —  
    (Loss) gain on sale of property and equipment     (15 )     115  
    Debt discount amortization     206       120  
    Share-based compensation expense     3,356       1,670  
    Provision (recovery) for credit loss     819       (384 )
    Inventory reserve expense     92       499  
    Deferred income tax benefit     166       —  
    Changes in operating assets and liabilities, net of acquisitions:            
    Accounts receivable     16,215       (5,355 )
    Costs and estimated earnings in excess of billings on uncompleted contracts     (12,270 )     7,858  
    Inventories     (2,416 )     (4,447 )
    Prepaid expense and other current assets     (17,652 )     1,211  
    Deferred charges and other assets     (1,137 )     (221 )
    Accounts payable     (3,633 )     (2,442 )
    Accrued expenses     8,865       1,220  
    Billings in excess of costs and estimated earnings on uncompleted contracts     5,933       1,262  
    Income taxes payable     17,220       (387 )
    Other liabilities     (3,358 )     (5,249 )
    Net cash (used in) provided by operating activities     (11,696 )     1,224  
    Cash flows from investing activities:            
    Acquisitions of property and equipment     (3,385 )     (3,116 )
    Net cash proceeds for sale of Global Pump Solutions business     105,860       —  
    Net cash (paid) received for acquisitions, net of cash acquired     (97,646 )     422  
    Net cash provided by (used in) investing activities     4,829       (2,694 )
    Cash flows from financing activities:            
    Borrowings on revolving credit lines     148,100       13,400  
    Repayments on revolving credit lines     (27,600 )     (12,600 )
    Repayments of long-term debt     (420 )     (2,553 )
    Payments on finance leases and financing liability     (234 )     (229 )
    Deferred consideration paid for acquisitions     (1,000 )     (1,000 )
    Equity awards surrendered by employees for tax liability, net of proceeds from employee stock purchase plan and exercise of stock options     (2,688 )     258  
    Noncontrolling interest distributions     (402 )     (804 )
    Common stock repurchased     —       (3,000 )
    Net cash provided by (used in) financing activities     115,756       (6,528 )
    Effect of exchange rate changes on cash, cash equivalents and restricted cash     (414 )     (422 )
    Net increase (decrease) in cash, cash equivalents and restricted cash     108,475       (8,420 )
    Cash, cash equivalents and restricted cash at beginning of period     38,201       55,448  
    Cash, cash equivalents and restricted cash at end of period   $ 146,676     $ 47,028  
    Cash paid during the period for:            
    Interest   $ 3,987     $ 3,269  
    Income taxes   $ 2,405     $ 975  
    CECO ENVIRONMENTAL CORP.
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
     
        Three months ended March 31,  
    (in millions, except ratios)   2025     2024  
    Operating income as reported in accordance with GAAP   $ 61.9     $ 7.7  
    Operating margin in accordance with GAAP     35.0 %     6.1 %
    Amortization expenses     3.1       2.2  
    Acquisition and integration expenses     8.1       0.2  
    Gain on sale of Global Pump Solutions business     (64.5 )     —  
    Other expenses(1)     —       0.1  
    Non-GAAP operating income   $ 8.6     $ 10.2  
    Non-GAAP operating margin     4.9 %     8.1 %
        Three months ended March 31,  
    (in millions, except share data)   2025     2024  
    Net income as reported in accordance with GAAP   $ 36.0     $ 1.5  
    Amortization and earnout expenses     3.1       2.2  
    Acquisition and integration expenses     8.1       0.2  
    Gain on sale of Global Pump Solutions business     (64.5 )     —  
    Restructuring expenses     —       0  
    Foreign currency remeasurement     0.6       0.9  
    Tax (benefit) expense of adjustments     20.2       (0.9 )
    Non-GAAP net income   $ 3.5     $ 4.0  
    Depreciation     2.0       1.3  
    Non-cash stock compensation     3.4       1.7  
    Other expense, net     —       0.6  
    Interest expense     6.2       3.4  
    Income tax expense     (1.6 )     1.6  
    Noncontrolling interest     0.5       0.6  
    Adjusted EBITDA   $ 14.0     $ 13.2  
                 
    Earnings per share:            
    Basic   $ 1.03     $ 0.04  
    Diluted   $ 0.98     $ 0.04  
                 
    Non-GAAP net (loss) income per share:            
    Basic   $ 0.10     $ 0.11  
    Diluted   $ 0.10     $ 0.11  
      Three months ended March 31,  
    (in millions) 2025     2024  
    Net cash provided by operating activities $ (11.7 )   $ 1.2  
    Acquisitions of property and equipment   (3.4 )     (3.1 )
    Free cash flow $ (15.1 )   $ (1.9 )
     

    NOTE REGARDING NON-GAAP FINANCIAL MEASURES

    CECO is providing certain non-GAAP historical financial measures as presented above as we believe that these figures are helpful in allowing individuals to better assess the ongoing nature of CECO’s core operations. A “non-GAAP financial measure” is a numerical measure of a company’s historical financial performance that excludes amounts that are included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow, as we present them in the financial data included in this press release, have been adjusted to exclude the effects of amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. Management believes that these items are not necessarily indicative of the Company’s ongoing operations and their exclusion provides individuals with additional information to better compare the Company’s results over multiple periods. Management utilizes this information to evaluate its ongoing financial performance. Our financial statements may continue to be affected by items similar to those excluded in the non-GAAP adjustments described above, and exclusion of these items from our non-GAAP financial measures should not be construed as an inference that all such costs are unusual or infrequent.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of CECO’s results as reported under GAAP. Additionally, CECO cautions investors that non-GAAP financial measures used by the Company may not be comparable to similarly titled measures of other companies.

    In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow stated in the tables above are reconciled to the most directly comparable GAAP financial measures.

    Non-GAAP measures presented on a forward-looking basis were not reconciled to the comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts. The GAAP measures are not accessible on a forward-looking basis because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. The unavailable information could have a significant impact on our GAAP financial results.

    SAFE HARBOR

    Any statements contained in this Press Release, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Part I – Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and may be included in subsequently filed Quarterly Reports on Form 10-Q, and include, but are not limited to: the effect of the divestiture of our Fluid Handling business on business relationships, operating results, and business generally, disruption of current plans and operations and potential difficulties in employee retention as a result of the transaction, diversion of management’s attention from ongoing business operations in connection with the integration of recent acquisitions, the amount of the costs, fees, expenses and other charges related to the transaction, the achievement of the anticipated benefits of transactions, our ability to successfully integrate acquired businesses and realize the synergies from acquisitions, as well as a number of factors related to our business, including the sensitivity of our business to economic and financial market conditions generally and economic conditions in CECO’s service areas; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on our infrastructure, resources, and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges or other customer considerations; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty, or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the substantial amount of debt incurred in connection with our strategic transactions and our ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; our ability to repurchase shares of our common stock and the amounts and timing of repurchases; our ability to successfully realize the expected benefits of our restructuring program; economic and political conditions generally; our ability to optimize our business portfolio by identifying acquisition targets, executing upon any strategic acquisitions or divestitures, integrating acquired businesses and realizing the synergies from strategic transactions; and the unpredictability and severity of catastrophic events, including cyber security threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to our views as of the date the statement is made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Amplify ETFs Launches the Next Generation of Bitcoin Option Income ETFs

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 29, 2025 (GLOBE NEWSWIRE) — Amplify ETFs, a leading provider of breakthrough ETF solutions, announces the launch of the Amplify Bitcoin 24% Premium Income ETF (BITY) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). These two actively managed ETFs seek to employ weekly options-writing strategies on Bitcoin ETPs*, transforming Bitcoin’s volatility into income opportunities with upside potential:

    Amplify Bitcoin 24% Premium Income ETF (BITY)

    BITY targets 24% annual option premium1 income, seeking to balance upside potential with attractive income generation. BITY seeks to deliver monthly income while maintaining high upside appreciation by writing 5-10% out-of-the-money2 weekly call options on a portion of the portfolio’s Bitcoin exchange-traded products (ETPs).

    This short-dated approach provides 4x more opportunities to reset strike prices and collect income compared to monthly options, enabling potential for compounded income and greater total return. BITY is designed for investors seeking Bitcoin growth exposure and income through an active risk-managed approach.

    Amplify Bitcoin Max Income Covered Call ETF (BAGY)                

    BAGY is optimized for maximum monthly option income and seeks to generate 30-60% annualized option premium income while preserving exposure to approximately 5% Bitcoin price appreciation weekly. BAGY writes 5% out-of-the-money covered call options on Bitcoin ETPs with expirations of one week or less, meaning potential option premiums are collected 4x more often versus monthly options, enabling compounded premium income generation. BAGY’s frequent, high-premium call-writing strategy focuses on converting Bitcoin’s price swings into a consistent income stream with capital appreciation potential each week. BAGY provides potential for high income with weekly upside participation.

    “Bitcoin’s volatility is a challenge and opportunity for investors,” said Christian Magoon, CEO of Amplify ETFs. “BAGY and BITY represent the next generation of weekly Bitcoin option income strategies as they seek to deliver attractive income while offering upside exposure to Bitcoin’s growth potential. Whether investors seek maximum weekly income with capital appreciation potential via BAGY or prefer to balance an attractive 24% target premium yield with greater capital appreciation potential with BITY, Amplify offers two carefully managed opportunities at compelling price points.”

    The process for both ETFs includes buying long Bitcoin exposure through ETPs and synthetic options, writing weekly covered calls, rolling expiring contracts, and seeking to pay high monthly distributions. This structure aims to provide high income, flexibility in call pricing, and clear participation in Bitcoin upside in an accessible investment vehicle.

    Both ETFs provide investors with monthly distribution frequency, enhanced total return through income generation potential, and a compelling way to access the growing digital asset space. Their versatility aligns well with allocations in a portfolio’s income, growth, or alternative sleeves.

    The funds are actively managed. Amplify Investments LLC serves as the investment adviser to the Funds. Kelly Strategic Management, LLC and Penserra Capital Management LLC each serve as investment sub-advisers to the Funds.

    Learn more:

    About Amplify ETFs
    Amplify ETFs, sponsored by Amplify Investments, has over $10 billion in assets across its suite of ETFs (as of 3/31/2025). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.


    1    An option premium is the cost an option buyer pays to the seller for the right to trade an asset at a set price within a certain period.
    2Out of the money (OTM) options has a strike price that the underlying security has yet to reach.

    *The Funds do not invest directly in bitcoin. Bitcoin ETPs are exchange-traded investment products not registered under the 1940 Act that seek to generally match the performance of the price of Bitcoin, and trade intra-day on a national securities exchange.

    There is no guarantee that BITY will achieve the Target Option Premium in any given year. If the NAV of the Fund remains level or decreases during any one-year period, the annualized premium generated by the Fund may be significantly less than the Target Option Premium for that time period.

    Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

    Investing involves risk and possible loss of principal. There is no guarantee the investment strategy will be successful. The Funds are considered to be non-diversified. The Funds are actively managed and their performance reflects the investment decisions that the Adviser makes for the Funds.

    The Funds face risks by investing in Bitcoin through the Bitcoin ETP and Bitcoin ETP Options, as bitcoin is a new and highly speculative investment. The market for bitcoin is volatile and subject to rapid changes, regulatory actions, and numerous challenges to widespread adoption. Issues such as slow transaction processing, variable fees, and price volatility further increase these risks.

    There is a lack of consensus regarding the regulation of digital assets, including bitcoin, and their markets. Trading in shares of a Bitcoin ETP on U.S. securities exchanges may be halted due to market conditions or for reasons that, in the view of an exchange, make trading in shares of the Bitcoin ETP inadvisable.

    Option contract prices are volatile and affected by changes in the underlying asset’s value, interest or currency rates, and expected volatility, all of which are influenced by political, fiscal, and monetary policies. The Funds may use FLEX Options, which can be less liquid than standardized options. This may make it difficult to close out FLEX Options positions at desired times and prices.

    With covered call risk, the Funds might miss out on profits if the security’s value rises above the option’s premium and strike price while still facing potential losses if the value declines. With covered put risk, significant stock price increases can lead to substantial losses on your short position. The premium provides some income but may not fully offset the loss if the stock rallies unexpectedly.

    The Funds currently expect to make distributions on a monthly basis, a portion of which may be considered return of capital.

    Amplify Investments LLC serves as the investment adviser to the Funds. Kelly Strategic Management, LLC and Penserra Capital Management LLC each serve as investment sub-advisers to the Funds.

    Amplify ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-Evening Report: Labor maintains clear lead in all polls and is likely to win election

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    Labor leads by between 52–48 and 53–47 in four new national polls from Resolve, Essential, Morgan and DemosAU. While Labor’s vote slumped from a high 55.5–44.5 in Morgan to 53–47, such a slide hasn’t been seen in any other poll. Labor remains the likely winner of the election this Saturday.

    A national Resolve poll for Nine newspapers, conducted April 23–28 from a sample of 2,010 by online and telephone polling, gave Labor a 53–47 lead, a 0.5-point gain for the Coalition since the mid-April Resolve poll. Telephone polling by Resolve appears to only be used for their final polls before a federal election.

    Primary votes were 35% Coalition (up one), 31% Labor (steady), 14% Greens (up one), 7% One Nation (up one), 8% independents (down four) and 5% others (steady). The 53–47 two-party result was achieved whether preferences were allocated as at the 2022 election or by respondents.

    In this poll, Resolve is using seat-specific candidate lists, which Morgan and YouGov are now also doing. This resulted in a drop in the independent vote, as not all seats have viable independents.

    Here is the graph of Labor’s two-party share in national polls. There was a 2.5-point drop for Labor in Morgan, but no other poll this week has had such a large change. Although Labor is slightly down, they are likely to win Saturday’s election. This graph does not include the DemosAU poll.

    Anthony Albanese’s net approval in Resolve was steady at +1, with 45% saying he was doing a good job and 44% a poor job. Peter Dutton’s net approval slumped six points to -24. Albanese maintained a 47–31 lead over Dutton as preferred PM (46–30 previously).

    The change in voting intentions and leaders’ ratings since the late February Resolve poll is dramatic. The February poll had given the Coalition a 55–45 lead by respondent preferences. Albanese’s net approval was -22, Dutton’s was +5 and Dutton led Albanese as preferred PM by 39–35.

    The Liberals led Labor on economic management by 37–29 (36–31 previously). On keeping the cost of living low, the Liberals led by 31–28 (tied at 30–30 previously).

    Final Essential poll: Labor leads by 52.1–47.9

    The Guardian reported Tuesday that the final Essential poll, conducted April 23–27 from a sample of 2,241 gave Labor a 52.1–47.9 lead by respondent preferences with undecided removed, from primary votes of 34% Coalition, 32% Labor, 13% Greens, 10% One Nation, 2% Trumpet of Patriots and 9% for all Others,

    In Essential’s usual methods that include undecided, Labor led by 49.6–45.6 (50–45 in mid-April). Primary votes were 32% Coalition (steady), 31% Labor (steady), 12% Greens (down one), 9% One Nation (steady), 2% Trumpet of Patriots (steady), 9% for all Others (steady) and 5% undecided (up one). By 2022 election flows, Labor would lead by about 52.5–47.5.

    Albanese’s net approval was steady at -3, with 47% disapproving and 44% approving. Dutton’s net approval dropped three points to -12, a record low for him in this poll. By 52–31, voters thought Australia was on the wrong track (50–33 previously).

    A total of 81% rated cost of living one of the top three most important issues, including 49% who rated it the top issue. By 68–32, voters did not think the elected government would make a meaningful difference on cost of living.

    Morgan poll: Labor drops to a 53–47 lead

    A national Morgan poll, conducted April 21–27 from a sample of 1,524, gave Labor a 53–47 lead by headline respondent preferences, a 2.5-point gain for the Coalition since the April 14–20 Morgan poll.

    Primary votes were 34.5% Coalition (up 0.5), 34% Labor (down 0.5), 13% Greens (down 1.5), 7.5% One Nation (up 1.5), 1.5% Trumpet of Patriots (up one), 2% teal independents and 7.5% for all Others. By 2022 election flows, Labor led by 54–46, a 1.5-point gain for the Coalition.

    By 52.5–34, voters thought the country was going in the wrong direction (48–34 previously). Morgan’s consumer confidence index was down 2.1 points to 83.4, its lowest for more than six months.

    DemosAU poll 52–48 to Labor with low major party primary votes

    A national DemosAU poll, conducted April 22–23 from a sample of 1,073, gave Labor a 52–48 lead after a forced choice question for the 14% who were initially undecided.

    Primary votes after forcing were 31% Coalition, 29% Labor, 14% Greens, 9% One Nation, 7% independents and 10% others. DemosAU used seat-specific polls, reading the candidate list as it appears on the ballot paper. Other pollsters get higher primary votes for the major parties as those parties are listed first on seat-specific polls.

    Albanese led Dutton by 43–34 as preferred PM.

    DemosAU poll of outer metro Brisbane seats

    DemosAU collectively polled the five seats of Longman, Dickson, Petrie, Bonner and Forde on April 18–23 from a sample of 1,053 for The Financial Review. The Liberal National Party led Labor by 53–47 (53.4–46.6 to the LNP across these five seats at the 2022 election).

    Primary votes were 40% LNP, 27% Labor, 13% Greens, 7% One Nation, 2% Trumpet of Patriots and 11% for all Others.

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

    – ref. Labor maintains clear lead in all polls and is likely to win election – https://theconversation.com/labor-maintains-clear-lead-in-all-polls-and-is-likely-to-win-election-255426

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: City council set to bring in new services to reduce smoking backed by nearly £4 million funding

    Source: City of Stoke-on-Trent

    Published: Tuesday, 29th April 2025

    Stoke-on-Trent City Council is looking to invest almost £4 million of Government and public health grant funding in smoking cessation services to help people quit and live healthier and longer lives.

    The money will be used as part of a five-year programme to create a generation free from smoking.

    National Government will be contributing funding in addition to funding provided by the Public Health Grant. This is a fund that is issued to every council each year to specifically fund activities to improve public health in the local area.

    The city already helps more than 700 people a year stop smoking – with quit rates above both the national and regional average.  Despite that progress, an estimated 26,385 people in Stoke-on-Trent – or 13% of the adult population – still smoke.

    The city is aiming to meet an ambitious government target to reduce smoking rates to just 5% of the population by 2030.

    In 2024/25, the city council has already used funding to:

    • Create new roles to support an expansion of stop smoking offers to support more people to quit
    • Offer free Allen Carr’s Easyway quit-smoking seminars – available in Stoke-on-Trent for the first time.
    • Expand pharmacy support, giving more people expert advice in their neighbourhoods
    • Work within communities to give people tailored support to quit smoking or vaping
    • Work with councils across the West Midlands to share resources and cut smoking rates across the region.
    • Conducting work to better understand how people want to be supported

    The Stoke-on-Trent Tobacco Alliance brings together partners from a range of services across the city who have been key in developing this work and actions within the city to further support the reduction of smoking rates in our city.

    Councillor Lynn Watkins, cabinet member for health and wellbeing, said: ““I am pleased with this proposal, as the support offered should have a positive outcome to reduce health inequalities and improve the quality of life for many residents.

    “Smoking affects so many, and as we work towards having cleaner air to breathe, a smoke free environment means many more children will grow up with good health, and fewer children will have to watch their parent’s health decline due to preventable diseases.

    “With this funding, we can expand the current offer to support more people in their journey towards stopping smoking and reduce risk for them and their friends and families.”

    In Stoke-on-Trent, smoking rates are higher than the national average and a leading cause of deaths in the city. Quitting smoking can help to prevent this, with those who have quit smoking for 10 years having half the risk of dying from lung cancer compared to those who are still smoking.

    We want to encourage people not to start smoking as well as supporting those who do smoke to quit – if you don’t smoke, don’t start and if you’ve never smoked, don’t start vaping.

    Use of a vape along with support from a stop smoking service is the most effective way to stop smoking.  Support to quit smoking is currently available to many of those who live, work or have a GP in Stoke-on-Trent, to see how we can help you, please visit: www.stoke.gov.uk/smokefree  

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: New Data: Since 2014, 52,000 Migrants Died Fleeing Humanitarian Crises; IOM Urges Collective Action 

    Source: International Organization for Migration (IOM)

    Berlin/Geneva, 29 April 2025 – A new report from the International Organization for Migration (IOM) reveals that most people who die while migrating are not taking dangerous journeys purely out of choice, but out of desperation – fleeing insecurity, conflict, disaster, and other humanitarian crises.  

    Since 2014, more than 52,000 people have died while trying to escape crisis-affected* countries. That’s nearly three-quarters (72%) of all migrant deaths recorded globally during this period. These include over 39,000 people who died within crisis zones, often while trapped in unsafe conditions, and more than 13,500 who died while trying to flee conflict or disaster.  

    “These numbers are a tragic reminder that people risk their lives when insecurity, lack of opportunity, and other pressures leave them with no safe or viable options at home,” said IOM Director General Amy Pope. “We must invest to create stability and opportunity within communities, so that migration is a choice, not a necessity. And when staying is no longer possible, we must work together to enable safe, legal, and orderly pathways that protect lives.” 

    Crisis Zones: The Deadliest Places for Migrants  

    More than half (54%) of all recorded migrant deaths since 2014 occurred in or near countries affected by conflict or disaster. For example:  

    • In Afghanistan, over 5,000 people have died in transit, including thousands who perished while fleeing the country following the 2021 political upheaval.  
    • Among the Rohingya people from Myanmar, more than 3,100 people have died – many in shipwrecks or while crossing into Bangladesh.  
    • The Central Mediterranean remains the deadliest single migration route worldwide, with nearly 25,000 people lost at sea.  

    A Call for Stronger Global Cooperation  

    Despite the scale of the crisis, migrants are often overlooked in humanitarian planning. Needs assessments and aid appeals frequently fail to include targeted efforts to protect those on the move – even though nearly one in four missing migrants came from a crisis-affected country.

    “Too often, migrants fall through the cracks,” said Julia Black, coordinator of IOM’s Missing Migrants Project and the report’s author. “And due to data gaps – especially in war zones and disaster areas – the true death toll is likely far higher than what we’ve recorded.”  

    IOM is urging States and humanitarian partners to work together to ensure migrants are not excluded from crisis responses. This means expanding legal pathways, improving access to aid and healthcare, and investing in data systems that can better track and protect those at risk.  

    Note to Editor:  

    * For the purposes of this report, “countries in crisis” refers to 40 countries with an active Crisis Response Plan (CRP) or Humanitarian Response Plan (HRP) listed by IOM and/or UN OCHA as of December 2024.   

    Click here to access the Missing Migrants Project 2024 annual report.  

    The analysis in this press release is based on data available as of 1 March 2025. For the latest figures, click here.   

    IOM’s Missing Migrants Project is currently maintained with financial support of the governments of Switzerland, Norway, Denmark and the European Union. The preparation of this year’s report was co-funded through IOM’s Flexible Funding Mechanism (FFM), enabling the use of data and evidence to save lives and protect people affected by humanitarian crises. IOM appreciates the generous unearmarked and softly earmarked voluntary contributions from our donors to the Flexible Funding Mechanism, which made this initiative possible.  

    For more information, please contact IOM Media Centre  

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: Joint statement on the Withdrawal Agreement Joint Committee, 29 April 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Joint statement on the Withdrawal Agreement Joint Committee, 29 April 2025

    The Minister for the Cabinet Office, Nick Thomas Symonds and the European Commissioner Maroš Šefčovič gave a joint UK-EU statement on 29 April 2025.

    Joint statement by the co-chairs of the Withdrawal Agreement Joint Committee, Minister for the Cabinet Office, the Rt Hon Nick Thomas-Symonds MP and the European Commissioner Maroš Šefčovič, 29 April 2025 :

    The United Kingdom (UK) and European Union (EU) today held a meeting of the Withdrawal Agreement Joint Committee in London. The Joint Committee co-chairs took note of the state of play of the implementation of the Withdrawal Agreement since the last meeting on 16 May 2024, renewing the EU and UK’s shared commitment to the full, timely, and faithful implementation of the Agreement in all its parts.

    The co-chairs reiterated that citizens’ rights are a key joint priority. In that spirit, the co-chairs warmly welcomed the legislative step taken by the UK Government relating to legal clarity for EU citizens with status under the EU Settlement Scheme and look forward to its practical application. They highlighted the importance of ensuring a smooth transition for citizens from temporary to permanent residence over the course of the next two years. The co-chairs agreed to further strengthen their ongoing cooperation on all citizens’ rights issues to ensure that all citizens who are beneficiaries of the Withdrawal Agreement can fully enjoy their rights now and in the future.

    The co-chairs recalled the importance they attach to the full, timely, and faithful implementation of the Windsor Framework for the benefit of people and businesses in Northern Ireland, while continuing to avoid a hard border on the island of Ireland and ensuring the protection of the EU Single Market, to which Northern Ireland has a unique access, and the integrity of the UK’s Internal Market.

    They noted the considerable work undertaken to date in the implementation of the Windsor Framework, having delivered benefits across areas, including on agri-foods, trade, VAT and excise, and engagement with stakeholders. They recalled specifically that, since the last Withdrawal Agreement Joint Committee, the arrangements for human medicines had started applying effective from 1 January 2025. At the meeting today, they also completed important work on safeguards allowing new customs facilitations on parcels and freight to take effect on 1 May 2025.

    They reiterated their unwavering commitment to stepping up the work for the full delivery of safeguards underpinning the facilitations, in particular in the agri-food area.

    The co-chairs welcomed the Joint Committee newly adopted decisions on the implementation of the Windsor Framework. Finally, they adopted the Withdrawal Agreement Joint Committee Annual Report for the year 2024.

    The co-chairs agreed to continue working in a spirit of mutual trust and remain in very close contact to achieve full delivery of the Withdrawal Agreement and to strengthen bilateral relations in view of the UK-EU Summit on 19 May 2025.

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Resistance emerges to newest antibiotic

    Source: United Kingdom – Executive Government & Departments

    News story

    Resistance emerges to newest antibiotic

    A new study published by UKHSA shows some bacteria have already become resistant to one of the newest antibiotics introduced to the NHS.

    A new study published by the UK Health Security Agency (UKHSA) shows that some bacteria have already become resistant to one of the newest antibiotics introduced to the NHS. Thankfully the levels of resistance are still low, but the data is an important reminder to ensure that antibiotics are used appropriately to slow down the development of resistance.

    Ceftazidime/avibactam is an antibiotic used in the NHS since 2017.

    Ceftazidime/avibactam is used to treat some of the most serious infections in hospitals, such as bloodstream infections, typically in individuals who are infected with known multi-drug resistant bacteria or after other antibiotics have failed. The study, which analysed data from 2016 to 2020, found that 6.3% of bacteria tested in routine surveillance showed resistance to the drug. Percentage resistance per bacterial species varied over time, stabilising as routine surveillance testing was established.

    The antibiotic was used by 69.5% of NHS Trusts during the study period.

    As a ‘Reserve’ classified antibiotic, it should be prescribed only in exceptional circumstances based on how difficult the infection is to treat.

    Antibiotic resistance occurs naturally, but use of antibiotics, whether appropriate or not, accelerates this process.

    Antibiotic-resistant bacteria are less likely to respond to treatment, causing serious complications, including bloodstream infections, sepsis and hospitalisation. This is why it is important to take antibiotics only where necessary and when they are prescribed. UKHSA has recently launched a new digital campaign to help keep antibiotics working and tackle the threat of antibiotic resistance.

    Dr Colin Brown, UKHSA Deputy Director responsible for AMR, said:

    This study reminds us how important resistance surveillance is. Research like this means clinicians and prescribers can access the most relevant information available to prescribe the best antibiotics for their patients, while protecting the long-term effectiveness of antibiotics for future use.   

    We aren’t going to be able to tackle antibiotic resistance solely by finding new drugs. While we continue to support innovation in developing new treatments, resistance will emerge and so it’s important that we all work together to keep antibiotics working.

    While Ceftazidime/avibactam is only prescribed in specific situations in hospitals, UKHSA’s new campaign to help keep antibiotics working highlights that everyone has a role in reducing antibiotic resistance.

    Over the course of the 6-week long campaign, ‘Andi Biotic’ will embark on a mission to answer people’s uncertainties about when and how to take antibiotics to help preserve their effectiveness today and for future generations. ‘Andi’ will come to the rescue in a variety of scenarios to make sure people are taking antibiotics in the right way, including:

    • not taking antibiotics for colds and flu, which they don’t work for
    • only taking antibiotics when you have been prescribed them and taking them as directed by a healthcare professional
    • not saving antibiotics for future use

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: British-built satellite to map Earth’s forests in 3D for the first time

    Source: United Kingdom – Government Statements

    News story

    British-built satellite to map Earth’s forests in 3D for the first time

    A satellite developed by British academics and engineers is set to become the first in the world to measure the condition of the Earth’s forests in 3D from space.  

    Artist’s impression of Biomass in orbit. Credit: ESA/ATG medialab, CC BY-SA 3.0 IGO.

    The European Space Agency (ESA) Biomass Earth observation mission, which launched successfully from Europe’s spaceport in Kourou, French Guiana today, aims to enhance our understanding of the world’s forests and their role in the carbon cycle. The mission will use state-of-the-art radar technology to uncover new insights into forests, including their size and weight, and areas of deforestation.  

    This work will be crucial to helping us understand how tropical forests are changing and provide critical data to understand the carbon cycle and help develop climate strategies. 

    Biomass taking to the skies on 29 April 2025. Credit: ESA-CNES-ARIANESPACE/Optique vidéo du CSG–S. Martin

    The concept was conceived in Yorkshire, at the University of Sheffield by Professor Shaun Quegan, working with the National Centre for Earth Observation in Leicester. Other academics from the University of Edinburgh and UCL have brought modelling and data assimilation expertise to the application of Biomass data.   

    Since 2016 the UK has won almost £77 million in contracts for Biomass through its membership of ESA. 

    Minister for Space Sir Chris Bryant said:  

    The Biomass mission showcases British ingenuity at its very best, from conception in Sheffield to construction in Stevenage.     

    Britain is not only stepping to the forefront of the space industry, but of global climate action too.    

    Contributing to such great extent to a European mission set to deliver vital global results is testament to the UK’s industrial and academic expertise in space technology and will attract global investment into our vibrant space ecosystem, helping us boost growth and deliver our Plan for Change.

    Biomass was built by Airbus in Stevenage, UK. Credit: Airbus.

    Shaun Quegan, University of Sheffield’s Professor and lead proposer of the mission concept to the European Space Agency, said:  

    It’s been a privilege to have led the team in the development of a pioneering mission that will revolutionise our understanding of the volume of carbon held in the most impenetrable tropical rainforests on the planet and, crucially, how this is changing over time. Our research has solved critical operational scientific problems in constructing the Biomass satellite.   

    Conceived and built in the UK, Biomass is a brilliant example of what we can achieve in collaboration with our partners in industry and academia. The mission is the culmination of decades of highly innovative work in partnership with some of the best scientists in Europe and the US.   

    Airbus UK is the Prime Contractor and has manufactured the satellite in Stevenage. Throughout construction, it has supported approximately 250 highly skilled jobs, benefitting the local economy and bolstering the UK’s 52,000-strong space workforce. 

    Kata Escott, Managing Director of Airbus Defence and Space in the UK, said:  

    Biomass is a groundbreaking mission that will advance our understanding of how carbon is stored in the world’s forests – delivering crucial data in the fight against climate change. With more than 50 companies involved across 20 nations, the team in Stevenage has shown exceptional leadership in delivering this flagship ESA mission.

    Many other businesses in the UK supply chain have contributed, including ABSL in Abingdon, which has provided the battery, European Astrotech UK in Westcott, which has provided test services, and Nammo, in Cheltenham, providing the service valves.

    Its revolutionary technology will help scientists capture vital data on the changes to carbon in forests as ecosystems are increasingly impacted by deforestation. The satellite will create a 3D map of tropical forests after 17 months, then new (non-3D) maps every 9 months for the rest of the 5-year mission, providing insights normally hidden from human sight because of the difficulty in accessing these environments.   

    Both deforestation, which releases carbon dioxide, and forest growth, which soaks up CO2 from the atmosphere, are crucial parts of climate change.  

    Data on the biomass of tropical forests is very limited because they are difficult to access.     

    The Biomass satellite will be able to penetrate cloud cover and measure forest biomass more accurately than any current technology, which only see the top of the canopy. By providing better data it will help create a more accurate global carbon budget and better understanding of carbon sinks and sources which will help in developing and implementing effective strategies to achieve net-zero goals.  

    Observations will also lead to better insight into the rates of habitat loss and, as a result, the effect this may have on biodiversity in the forest environment.   

    Dr Paul Bate, CEO of the UK Space Agency, said:  

    The Biomass satellite represents a major leap forward in our ability to understand Earth’s carbon cycle. By mapping the world’s forests from space in unprecedented detail, it will provide critical insights into how our planet is responding to climate change — helping scientists, policymakers, and conservationists take informed action.  

    We’re proud of the leading role the UK has played in this important mission.

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –