NewzIntel.com

Category: Politics

  • MIL-OSI Africa: Libya: Staff Concluding Statement of the 2025 Article IV Mission

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

    WASHINGTON D.C., United States of America, April 16, 2025/APO Group/ —

    The dispute over the leadership of the central bank last August and the associated disruption in oil production weighed on growth in 2024. Output is estimated to have contracted, driven by the forced contraction in hydrocarbon GDP, but offset somewhat by the expansion in non-oil activities fueled by sustained government spending. Following the resolution of the dispute, oil production has rebounded and is now approaching 1.4 million barrels per day.

    Official inflation stood at close to 2 percent in 2024, reflecting extensive subsidies and affected by measurement issues. Subsidized goods and services account for around one-third of the consumer price index (CPI). The CPI was based on an outdated consumption basket that covered only Tripoli, likely leading to the inaccurate estimation of inflation, given the significant variation in prices across different regions in Libya. The Bureau of Statistics and Census (BSC) has now introduced a revamped CPI with an expanded geographical coverage and updated weights.

    Preliminary estimates point to fiscal and current account deficits in 2024. Government spending continued to rise amid declining oil revenues due to the shutdown of oil production and exports. The current account balance is estimated to have turned from a large surplus in 2023 to a deficit in 2024 due to the reduction in hydrocarbon exports, whereas imports remained broadly unchanged. Reserves remained at a comfortable level, bolstered by the revaluation of the CBL’s gold holdings.

    The banking sector has successfully increased capital and enhanced its financial soundness metrics. In late 2022, the CBL instructed banks to increase their capital to meet Basel II regulatory requirements, and the majority of banks have already met their targets in 2024, resulting in a doubling of paid-in capital. Additionally, banks’ financial soundness indicators have strengthened, with significant improvements in nonperforming loan ratios. Private sector credit growth remained strong in 2024, primarily in the form of Murabaha financing to retail customers and salary advances to public employees, whereas corporate financing was limited.

    The economic outlook is dominated by developments in the oil sector. Real GDP growth is projected to rebound in 2025, primarily driven by an expansion of oil production, before moderating in the medium term. Non-hydrocarbon growth is set to remain around its 2021-2024 average (5-6 percent) throughout the forecast horizon, supported by sustained government spending. The current account and fiscal balances are slated to remain under pressure over the medium term, driven by projected lower oil prices and continued demands for the government to spend its entire revenues. The outlook is subject to elevated uncertainty and risks are tilted to the downside, particularly from domestic political instability, oil price volatility, intensifying regional conflicts, and deepening geo-economic fragmentation.    

    Pursuing efforts to establish a unified budget should remain a key objective. This will help identify priority spending and enhance fiscal credibility. In the meantime, the authorities should resist the pressure to increase current spending, particularly on salaries and subsidies, while also building capacity for more effective public financial management, including by strengthening the Macroeconomic Unit within the Ministry of Finance. In the medium term, substantial fiscal efforts will be needed to preserve sustainability and achieve intergenerational equity, including by introducing well-calibrated and orderly wage and energy subsidy reforms and mobilizing nonhydrocarbon revenues.

    The CBL devalued the dinar by about 13 percent in early April and further tightened foreign exchange restrictions to alleviate pressures on reserves. In the absence of conventional monetary policy tools, controlling fiscal expenditure remains the preferred policy response consistent with Libya’s macroeconomic framework (see IMF Country Report No. 24/206). However, given Libya’s political instability and institutional fragmentation, addressing expenditure pressures may not be feasible in the short term. The authorities should reduce the gap between the official and the parallel exchange rates, including by phasing out the foreign exchange tax and easing foreign currency restrictions, while protecting international reserves.

    The CBL needs to develop an effective domestic monetary policy framework with a well-defined policy rate to serve as a reference for banks in Libya. Such a framework would allow it to react to changing macroeconomic conditions, alleviate the recurring depreciation pressures on the Libyan dinar, and provide a benchmark for the pricing of credit by banks and other financial institutions.

    The CBL’s recent efforts to inject new banknotes, promote electronic payments, and accelerate financial inclusion are welcome. Yet, more needs to be done to tackle the issue of cash hoarding and restore confidence in the financial sectors. Improving transparency, accountability and financial literacy, while also developing attractive savings plans would be key and foster credit provision to the private sector. The authorities should continue enhancing the anti-money laundering and combating the financing of terrorism (AML/CFT) framework to support the stability of correspondent banking relationships and economic stability more broadly. The legal framework should be aligned with international standards, and AML/CFT mitigation should be properly coordinated and risk-focused.

    To foster economic diversification in Libya, it is critical to address the challenges facing the private sector. The level of informality remains high, given the ongoing political uncertainty and weakness of the regulatory framework for businesses. The lack of access to finance and foreign currency, dominance of public employment, and poor governance are major impediments to growth in Libya. Banks continue to lack a well-defined framework for extending credit since the issuance of the law banning interest. The authorities should initiate a comprehensive economic reform plan that focuses on private sector development, starting with upgrading regulatory frameworks, enhancing access to finance, and improving the security situation.

    Governance reforms will be key to support sustainable growth. Positive steps by the CBL taken to improve banks’ governance frameworks are welcome. Additionally, measures taken to confront corruption, such as the publication of annual reports of the Libyan Audit Bureau, and the adoption of a country anticorruption strategy are noteworthy. However, significant macro-critical governance vulnerabilities linked to the administration of state-owned enterprises, public spending, the rule of law, and the overall fragility of the country remain. Addressing them in a timely manner will support the creation of a better business environment and a more active private sector.

    The next Article IV mission is expected in the Spring of 2026.

    The mission thanks the Libyan authorities and other counterparts for the constructive policy dialogue and productive collaboration, and acknowledges the continued improvements in data collection, sharing and transparency.

    MIL OSI Africa –

  • MIL-OSI Africa: South Africa’s coalition government is at risk of crumbling: why collapse would carry a heavy cost

    Source: The Conversation – Africa – By Vinothan Naidoo, Associate Professor of Public Policy and Administration, University of Cape Town

    South Africa’s multi-party government of national unity (GNU), which emerged in the wake of the May 2024 elections, marked a turning point in the country’s political history. It took South Africans back to the 1990s, when the country showed that political opponents could find common cause.

    The formation of the government of national unity expressed the hope that the country could do it again.

    But just nine months into its term, the good will and pragmatism which marked its formation have worn thin. A major budget impasse between the two major actors, the African National Congress (ANC) and the Democratic Alliance (DA), threatens the coalition.

    South Africans have long been accustomed to viewing the world of politics, governance and bureaucracy through the lens of a top-down “strong” state – a vicious apartheid state, an East Asia style developmental state, or a collusive “predatory state”.

    But as recent analyses we co-authored with others have detailed, the vision of a top-down politically cohesive state no longer fits South Africa’s realities.

    The government of national unity promised the hope that the country was embracing an approach that is key to success for almost all inclusive constitutional democracies. That is – abandon “all or nothing” confrontation, and instead pursue pragmatic bargains to achieve mutually agreeable policy outcomes.

    At the most basic level, the government of national unity achieved this, at least for a while. The sharing of cabinet ministries between multiple parties created a diverse platform for executive power-sharing that was not dictated by a single dominant party, and which prevented the risks of parties building institutional fiefdoms.

    In our view, failure to overcome deeply ingrained political differences could set off a downward spiral in the country.

    Achievements on the governance front

    On governance, the government of national unity created the space to pursue two sets of gains.

    The first comprises the potential benefit of bringing together unlikely bedfellows.

    The former opposition parties brought into a power-sharing arrangement were bound to be performance-driven, given the country’s long deteriorating government performance and ethical integrity. They had made “good governance” and criticism of the ANC central to their political brands.

    New “outsider” eyes brought into formerly cloistered and factionalised ANC-run departments created the possibility of a new urgency to perform.

    It’s too soon to tell whether this is happening, but anecdotal evidence suggests there are some green shoots.

    The second governance gain comprises the crucial task of building a capable and professional state bureaucracy. The challenges include being able to pay the public sector wage bill, fostering a culture of delivery, and consolidating the bloated network of government departments.

    Based on their party manifestos and public utterances, members of the government all aim to professionalise the public service.

    Detailed technical work is already happening on issues such as training and competency assessment, transferring powers of appointment from politicians to senior public servants, and instituting checks in the recruitment and selection process. The National Assembly’s recent adoption of the Public Service Commission Bill forms part of this agenda.

    But a prolonged legal dispute between the DA and ANC over the latter’s policy of “deploying” party members into state employment risks scuppering progress. It also leaves a key question unanswered: what role, if any, should political parties have in the recruitment and selection of public servants?

    Policy

    The government of national unity has struggled to create effective mechanisms to translate agreement on a broad agenda of policy priorities into specific outcomes. This came at a higher cost than expected.

    Still, it has made gains in challenging policy areas. These gains have repeatedly been undermined by the perverse determination of sections within both the ANC and the DA to engage in brinkmanship.

    On health, both parties agree on the principle of universalising access. They differ on how to achieve this. But at least one seemingly intractable sticking point has been resolved. Both sides agree that private medical aid schemes need to be retained as part of a broader strategy of pursuing health system reform.

    On basic education, the public spat over the Basic Education Laws Amendment Bill overshadows the potential to agree on balancing the autonomy of school governing bodies with the oversight role of provincial departments.

    Read more: South Africa has a new education law: some love it, some hate it – education expert explains why

    On land expropriation, the emotive rhetoric which followed the signing of the Expropriation Bill and the unwelcome and toxic intervention of international actors has overshadowed technical concerns which can be resolved.

    On pro-growth policies: Operation Vulindlela, a joint Presidency and National Treasury initiative to unblock constraints in targeted economic sectors, has made significant strides. It has laid the groundwork for new rounds of growth-supporting infrastructural reforms and has the potential to build cohesion in the government of national unity. However, the DA’s attempt to lobby for a greater role in the strategic oversight of Operation Vulindlela in exchange for supporting the budget risks souring relations with the ANC.

    What now?

    A thriving inclusive society depends on powerful actors visibly committed to co-operation.

    For all of the challenges confronting the government of national unity, it was built on a foundation of pragmatism. For the sake of South Africa’s future, it remains vital to build on this foundation. Obsolete top-down governing approaches must go. Pathways to performance must be lifted above political grandstanding. Constructive solutions should supersede ideological rigidity. South Africa has done it before. It can do it again.

    – South Africa’s coalition government is at risk of crumbling: why collapse would carry a heavy cost
    – https://theconversation.com/south-africas-coalition-government-is-at-risk-of-crumbling-why-collapse-would-carry-a-heavy-cost-254302

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Fatal accident at Ickenham station

    Source: United Kingdom – Executive Government & Departments

    News story

    Fatal accident at Ickenham station

    Investigation into a fatal injury to a passenger at Ickenham London Underground station, 28 March 2025.

    Ickenham Underground station.

    At around 22:30 on 28 March 2025, a passenger fell from a platform and on to the track at Ickenham station, which serves the London Underground’s Metropolitan and Piccadilly lines.

    The passenger remained on the track and was struck by a train before being discovered by London Underground station staff. The accident resulted in fatal injuries being sustained by the passenger.

    Our investigation will seek to identify the sequence of events that led to the accident. It will also consider:

    • the actions of those involved and anything which may have influenced them
    • the management of the staff involved in the accident, including their training and competence
    • the arrangements in place to manage and control the risks of such accidents
    • any underlying management factors.

    Our investigation is independent of any investigation by the railway industry or by the industry’s regulator, the Office of Rail and Road.

    We will publish our findings, including any recommendations to improve safety, at the conclusion of our investigation. This report will be available on our website.

    You can subscribe to automated emails notifying you when we publish our reports.

    Updates to this page

    Published 16 April 2025

    MIL OSI United Kingdom –

  • MIL-Evening Report: Fiji defence minister draws flak for six-week trip to meet peacekeepers

    RNZ Pacific

    Fiji’s Minister for Defence and Veteran Affairs is facing a backlash after announcing that he was undertaking a multi-country, six-week “official travel overseas” to visit Fijian peacekeepers in the Middle East.

    Pio Tikoduadua’s supporters say he should “disregard critics” for his commitment to Fijian peacekeepers, which “highlights a profound dedication to duty and leadership”.

    However, those who oppose the 42-day trip say it is “a waste of time”, and that there are other pressing priorities, such as health and infrastructure upgrades, where taxpayers money should be directed.

    Tikoduadua has had to defend his travel, saying that the travel cost was “tightly managed”.

    He said that, while he accepts that public officials must always be answerable to the people they serve, “I will not remain silent when cheap shots are taken at the dignity of our troops, or when assumptions are passed off as fact.”

    “Let me speak plainly: I am not travelling abroad for a vacation,” he said in a statement.

    “I am going to stand shoulder-to-shoulder with our men and women in uniform — Fijians who serve in some of the harshest, most dangerous corners of the world, far away from home and family, under the blue flag of the United Nations and the red, white and blue of our own.

    ‘I know what that means’
    Tikoduadua, a former soldier and peacekeeper, said, “I know what that means [to wear the Fiji Military Forces uniform].”

    “I marched under the same sun, carried the same weight, and endured the same silence of being away from home during moments that mattered most.

    “This trip spans multiple countries because our troops are spread across multiple missions — UNDOF in the Golan Heights, UNTSO in Jerusalem and Tiberias, and the MFO in Sinai. I will not pick and choose which deployments are ‘worth the airfare’. They all are.”

    He added the trip was not about photo opportunities, but about fulfilling his duty of care — to hear peacekeepers’ concerns directly.

    “To suggest that a Zoom call can replace that responsibility is not just naïve — it is offensive.”

    However, the opposition Labour Party has called it “unbelievably absurd”.

    “Six weeks is a long, long time for a highly paid minister to be away from his duties at home,” the party said in a statement.

    Standing ‘shoulder to shoulder’
    “To make it worse, [Tikoduadua] adds that he is . . . ‘not going on a vacation but to stand shoulder to shoulder with our men and women in uniform’.

    “Minister, it’s going to cost the taxpayer thousands to send you on this junket as we see it.”

    Tikoduadua confirmed that he is set to receive standard overseas per diem as set by government policy, “just like any public servant representing the country abroad”.

    “That allowance covers meals, local transport, and incidentals-not luxury. There is no ‘bonus’, no inflated figure, and certainly no special payout on top of my salary.

    As a cabinet minister, the Defence Minister is entitled to business class travel and travel insurance for official meetings. He is also entitled to overseas travelling allowance — UNDP subsistence allowance plus 50 percent, according to the Parliamentary Remunerations Act 2014.

    Tikoduadua said that he had heard those who had raised concerns in good faith.

    “To those who prefer outrage over facts, and politics over patriotism — I suggest you speak to the families of the soldiers I will be visiting,” he said.

    “Ask them if their sons and daughters are worth the minister’s time and presence. Then tell me whether staying behind would have been the right thing to do.”

    Responding to criticism on his official Facebook page, Tikoduadua said: “I do not travel to take advantage of taxpayers. I travel because my job demands it.”

    His travel ends on May 25.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Have Trump’s tariffs affected his popularity? Here’s what approval data shows

    Source: The Conversation – UK – By Paul Whiteley, Professor, Department of Government, University of Essex

    When Donald Trump launched a trade war on April 2, he produced enormous volatility in stock markets around the world, but since then upheaval in the bond market has forced him to row back on some of his tariffs.

    Investors traditionally consider US Treasury bonds to be a safe asset with a guaranteed return and therefore preferable to stocks when the latter are falling in price. However, instead of buying these bonds investors have been selling them, and this produced a rapid fall in their price.

    While stock prices have recovered somewhat in Europe and Asia they have continued to fall in the US. But what do US consumers make of all this? Has the shifting of the bond market and economic uncertainty affected voter confidence, and approval, in the US president?

    A round up of recent polls suggest US voters expect to see higher prices for goods as a result of the tariffs, with 75% expecting short-term price hikes, and 48% long-term. While 51% like Trump’s trade goals, only 37% approve of his approach. Meanwhile, 91% of Republicans think the president has a clear plan for tariffs and trade, but only 16% of Democrats and 43% of independent voters do. Republican voters are also much more willing to take a longer time to make up their minds about Trump’s trade policy, with 49% saying they will assess it in a year’s time or longer, compared to 36% of independents and 21% of Democrats who are willing to wait that long.

    The latest Morning Consult poll on April 14 gives Trump his lowest approval rating yet for his second term, at 45%. A few weeks ago it was clear from the polls that there were massive differences between Democrats and Republicans when it came to approval for Trump’s handling of his job. An Economist/YouGov poll completed on March 18 showed that 6% of Democrats, 90% of Republican and 37% of independents approved of his performance at that time.

    A more recent Economist/YouGov poll, completed on April 8 after the trade war began, shows a significant change in the views of independent voters. The Democrat and Republican approval/disapproval ratings are about the same as in the earlier survey by the Economist, but approval among voters who class themselves as independents has fallen by 5% to 32%.

    Put simply, the nonaligned voters in America have shifted against Trump over tariffs. This is significant because they are the largest political group in the US, at 37% of electors compared with 34% Democrats and 29% Republicans. Also significant is that, according to Morning Consult, the average voter is more likely to hold positive than negative views about Democrats in Congress, for the first time since the 2024 election, at 47% to 46%.

    If this shift continues, and independent voters support Democrat candidates in the 2026 mid-term elections, it means that the Democrats are likely to take control of Congress. This will give them greater opportunity to block presidential initiatives to introduce new bills, which must be passed by both the House of Representatives and the Senate to became law

    If, at some point, the Democratic party wanted to try and impeach Trump they would need far more Congressional votes than they currently have. The Republicans currently have majorities in both Houses. Impeachment requires a simple majority in the House of Representatives, but a two-thirds majority in the Senate, so it is not an easy thing to do.

    That said, the point is often made that Trump is a transactional politician and as a result attracts little personal loyalty from many of the people around him, particularly in Congress. However, if his approval ratings started to rapidly deteriorate, and the midterm elections turn into a disaster for their party, some Republicans may be ready to turn on Trump.

    Presidential approval and mid terms

    We can get an idea of the likelihood of a midterm swing by looking at the relationship between presidential approval and support for the president’s party in all 20 midterm elections since the second world war.

    Presidential approval in October and changes in House seats in November midterm elections in the US (1946-2022)

    The chart above compares presidential approval ratings in the month prior to elections with seat changes in the president’s party in the House of Representatives. There are 435 members of the House, and they are all up for re-election next year.

    It is clear that there is a strong positive relationship between presidential approval and the success of his party in the mid-term elections (correlation = 0.57). In other words when the president is popular his party does well and when he is unpopular it does badly.

    Donald Trump did rather badly in the midterm elections in 2018 during his first term of office. On that occasion the Republicans lost 40 House seats, a significantly greater number than the post-war average loss of 23 seats for Republican presidents. The last time the Republicans lost more seats than 2018 was in 1974 after Gerald Ford took over from Richard Nixon following the Watergate scandal.

    Currently, the president’s current approval ratings might suggest that the loss of seats by Republicans is likely to be greater in next year’s midterm elections than it was in 2018. In October 2018 Trump’s approval rating was 41%, whereas it currently stands at 45% (with 52% disapproving) in the Economist/YouGov survey.

    However, the current approval rating does not take into account the medium to longer term effects of the economic turmoil and market instability triggered by his policies. Tariffs, in particular, are very likely to increase inflation and slow economic growth both in the US and the rest of the world. This is likely to damage his approval ratings.

    In the UK Conservative prime minister Liz Truss spooked the bond market in the autumn of 2022 by proposing large unfunded tax cuts. She was rapidly removed by her party from the job of leader and prime minister. This was followed by a crushing defeat for the party in the 2024 election. The same could happen to the Republicans, although the voters will have to wait until next year to make their presence felt.

    Paul Whiteley has received funding from the British Academy and the Economic & Social Research Council.

    – ref. Have Trump’s tariffs affected his popularity? Here’s what approval data shows – https://theconversation.com/have-trumps-tariffs-affected-his-popularity-heres-what-approval-data-shows-254725

    MIL OSI – Global Reports –

  • MIL-OSI Global: Denying compensation to ‘Waspi’ women over pension changes could be a missed opportunity

    Source: The Conversation – UK – By Jane Falkingham, Dean of the Faculty of Social, Human and Mathematical Sciences, University of Southampton

    Serenity Images23/Shutterstock

    Governments around the world have addressed the challenge of increasing life expectancy and declining birth rates by raising the pension age. The UK is no exception. The challenge this creates for governments is the thorny dual issue of rising care costs for the ageing population while fewer taxpayers support the economy.

    Between the 1940s and 2010, the UK state pension age was 65 for men and 60 for women. This gender difference reflected long-standing norms about men’s and women’s employment patterns, as well as typical age differences at marriage.

    These days, there is more acceptance of an equal age for women and men to receive the state pension. But in the process of levelling the playing field, some women feel they have been penalised by the government. So how did it happen?

    The Pensions Act 1995 equalised things, setting out a plan to gradually increase women’s state pension age to 65. But ten years later, an independent Pensions Commission report found that a state pension age fixed at 65 was no longer sustainable or affordable.

    Between 2007 and 2014 the law changed three times. This accelerated the equalisation of women’s and men’s state pension age, bringing forward the increase from 65 to 66 by five and a half years to 2020.

    Further changes accelerated the increase in the state pension age for both men and women to 67 by 2028. This was eight years earlier than the previous timetable. Another review suggested increasing the state pension age from 67 to 68 in 2039. This would bring it forward by seven years in response to continued gains in life expectancy.

    The Waspi campaign

    These changes in the state pension age led to a long-running campaign by a group known as the Waspi (Women Against State Pension Inequality) women. This group claims that women born between April 6 1950 and April 5 1960 have been badly affected by the way the government equalised the state pension ages.

    They are campaigning for compensation – but the government has repeatedly refused to pay out the recommended amounts of up to £2,950 per woman. These payment could have cost the government more than £10 billion.

    The group’s argument rests on the way the increases in the state pension age were communicated and the amount of notice women were given to plan their finances in retirement. Some women in this cohort were affected by more than one increase in the state pension age.

    The Waspi group estimates that about 3.8 million women are affected. Analysis from the House of Commons puts that figure just above 1.5 million women.

    Analysis of data from the UK’s largest household panel study, the UK Household Longitudinal Study, shows that the impact of the rise in the state pension age has been positive for older women’s employment rates. But it has been harmful for their wellbeing.

    The government’s analysis has also shown that younger women in the 1950-58 birth cohort have stayed in employment for longer.

    Studies analysing the Family Resources Survey have shown that the women affected by the increased state pension age have a reduced household income, and this effect is larger for those in lower-income households.

    The changes in the state pension age, and their effect on women born in the 1950s, has been the topic of both parliamentary debates and (unsuccessful) legal challenges by women affected by these changes.

    In March 2024, the Parliamentary and Health Service Ombudsman found the Department for Work and Pensions had demonstrated maladministration in its communication about the 1995 Pensions Act. This resulted in women losing opportunities to make informed decisions about their future. But it found that this did not result in an injustice or the women suffering direct financial loss.

    How the UK state pension age was equalised – and raised

    Whatever the outcome of the debate about women born in the 1950s, this topic raises broader issues – and lessons – about social policy. Change in social policies is inevitable. Social structures shift, as do norms and patterns in a population’s health and economic circumstances.

    However, introducing change in a way that is both informed by evidence and transparent is vital for ensuring that reforms are acceptable.

    Far from always creating “winners and losers”, social policy change can be a tool that demonstrates a collective sense of responsibility and adaptability to changing times.

    Gender differences have consistently permeated employment and pensions, and women tend to fare worse than men. More women are working in the UK than ever before and benefit from state, workplace and personal pensions. But gender gaps are persistent across areas that directly affect someone’s ability to have enough money to live comfortably in later life.

    Women are still less likely to work and to work full-time than men. And they are more likely to provide informal care within and beyond the household (except from age 75 and over). These realities result in lower earnings and a lower capacity to save for later life.

    In the broader context of stubborn financial gender inequalities over lifetimes, the issue of changing the state retirement age for women born in the 1950s is a missed opportunity. The government could play a critical part in evening out gender differences for the Waspi women – and for the millions of others coming up after them.

    Jane Falkingham receives funding from the Economic and Social Research Council.

    Athina Vlachantoni receives funding from the Economic and Social Research Council.

    Yifan Ge receives funding from the Economic and Social Research Council.

    – ref. Denying compensation to ‘Waspi’ women over pension changes could be a missed opportunity – https://theconversation.com/denying-compensation-to-waspi-women-over-pension-changes-could-be-a-missed-opportunity-254018

    MIL OSI – Global Reports –

  • MIL-OSI Global: The world could stop central Africa’s deadly mpox outbreak if it wanted to

    Source: The Conversation – UK – By Chloe Orkin, Professor of Infection and Inequities, Centre for Immunobiology, Blizard Institute, Faculty of Medicine and Dentistry, Queen Mary University of London

    MIA Studio/Shutterstock

    The global outbreak of mpox in 2022-23 affected more than 100 countries and grabbed the attention of the scientific community. Research on mpox has intensified since.

    The virus behind the outbreak, technically mpox clade IIb, is spread through close physical contact. During the 2022 outbreak it was found in both sperm and vaginal fluid for the first time. This suggests it is sexually transmissible.

    Overall, deaths in the 2022 outbreak were very low: 0.1%. However, in people with very weak immune systems – such as those with advanced HIV – deaths were much higher, at around 15%.

    The outbreak was curtailed through public health agencies and doctors working in partnership with those most at risk of the disease – sexually active men who have sex with men. Key interventions included ensuring that people knew what signs to look for and how to protect themselves, as well as offering vaccinations.

    The more a virus spreads, the greater the likelihood it will mutate. Mutations can allow the virus to be more easily transmissible. This happened with the clade II virus, which branched into two and resulted in the clade IIb global outbreak in 2022. Something very similar has now happened with clade I. Clade I virus caused 14,626 mpox cases and 654 deaths in 2023.

    Health inequality is a killer

    Doctors in the Democratic Republic of the Congo (DRC) have been battling to contain exponentially rising cases of the more severe clade I mpox, mainly affecting children under 15 and their caregivers.

    Mpox can be lethal, especially for children under five years old. The mortality rate for clade I is between 3% and 10%. The variation in mortality rates is due to differences in access to healthcare, such as access to antibiotics, as well as specialist care in hospital and intensive care.

    This strain, which has caused significant harm in central African countries such as the DRC, has not attracted the world’s attention in the same way as it has in the west – even though the number of people with the disease was rising year on year. Sadly, it’s very common in global public health for infectious diseases to be neglected unless they affect people in wealthy countries.

    Clade I virus is transmitted through close physical contact, respiratory droplets and contact with infected materials like bedding and infected animals. Historically affected countries, like the DRC, have not had access to the vaccine that helped curtail the outbreak in the US, Europe and the UK.

    The vaccine – called Jynneos in the US and Imvanex in Europe – has not been made or sold in Africa so far. And at US$100 per dose (£76), it is beyond the affordability of most low- and middle-income countries.

    These countries have relied on donations from philanthropic organisations or from governments. However, during the 2022 mpox outbreak, insufficient vaccines were donated to African countries, and local laboratory capacity – needed to test, monitor and respond to cases – was not significantly strengthened. According to experts, wealthier nations, international health agencies and global health donors should have taken the lead in addressing these gaps, but their support fell far short of what was needed.

    In 2024, the mpox virus spread very quickly from the Kivu area of the DRC, which is on the eastern border with Uganda, Burundi and Rwanda – and caused over 16,000 new cases and 511 deaths. The rapid spread among heterosexual people who were moving across porous borders with neighbouring countries – and within camps of internally displaced people – prompted scientists to study the virus to see if it had mutated.

    The virus has changed significantly enough to warrant being named as a new sub-variant: clade Ib.

    These changes may have enabled the rapid spread to several other African countries and the first ever case of clade I virus in Europe (Sweden) in a returning traveller.

    Vaccine accessibility

    So what does this mean for people in wealthy countries? The risk to the general population is very low. However, travellers to affected countries who mix with affected communities are at risk of contracting mpox and transmitting it to close contacts on return.

    We live in an interconnected world, so cases of the new strain are extremely likely to be identified in the coming weeks and months in many countries. But this does not make a global outbreak of clade Ib inevitable. The tools needed to limit the virus from spreading are in use already: community engagement, contact tracing, laboratory surveillance of new cases to monitor spread of clade Ib virus, and vaccination.

    Anyone who develops symptoms after being in contact with a returning traveller should isolate and follow national guidance on where to attend for medical care. It’s essential to do this as soon as possible after noticing symptoms because being vaccinated within four days of exposure can limit the likelihood of getting mpox and the severity – and length – of infection.

    Mpox causes skin lesions that look like blisters which become filled with pus after a few days – and it can cause ulcers in the mouth and on the genitals and bottom. People diagnosed with mpox should isolate and limit close physical and sexual contact while they have lesions.

    Stopping this outbreak is possible if affected countries are equipped with three things: access to free diagnostic tests, laboratory capacity to determine the mpox clade so the extent of the outbreak can be monitored and, most important, equal access to the vaccine.

    Millions of doses will be needed to protect people in affected countries. The declaration of a public health emergency of international concern by the World Health Organization will allow better coordination of the international response, such as emergency licensing of the vaccine in all countries and greater capacity to buy and make the vaccine where it is needed most.

    Chloe Orkin 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. The world could stop central Africa’s deadly mpox outbreak if it wanted to – https://theconversation.com/the-world-could-stop-central-africas-deadly-mpox-outbreak-if-it-wanted-to-236981

    MIL OSI – Global Reports –

  • MIL-OSI Global: King Charles visits the Vatican: my research shows countries that cut ties with the Catholic Church perform better

    Source: The Conversation – UK – By Jason Garcia-Portilla, Lecturer in Business Management, University of Winchester

    King Charles’s recent visit to the Vatican may appear to be simply a symbolic gesture of ecumenical goodwill. But moments like this provide an opportunity to look at the long-term consequences of church-state relations around the world.

    Britain, of course, has a complicated history with the Catholic church. Edward VII (Charles’s great-great-grandfather) was the first UK monarch to visit the Vatican since the Protestant Reformation in the 16th century.

    The UK (and much of western Europe) is largely secular today, but this is a global exception: 85% of the world’s population identifies as religious. These beliefs are often passed down through generations, not necessarily chosen freely.

    Today’s religious identities have more to do with political decisions made centuries ago than with personal faith. Spain and Portugal are predominantly Catholic not because of the individual choices of their population, but because their monarchs aligned (and maintained the hegemony) of the Roman Catholic church-state. In England, on the other hand, King Henry VIII broke away from Rome in the 1530s, challenging (“protesting”) against the universal papal authority and leading to the establishment of the Church of England.

    This religious split also carried over to former colonies. Compare the US, (a Protestant country) to Mexico or Brazil (Catholic countries), and you’ll see the long shadow of these old decisions. My research shows the profound and lasting consequences of religion on these societies.

    Diverging nations

    In my book Ye Shall Know Them by Their Fruits, I analysed data from 65 countries across Europe and the Americas using both qualitative and quantitative methods.

    My findings suggest that countries with historical and legal alignments with the Catholic church — such as Spain, Portugal, Austria, Ireland and much of Latin America — tend to underperform on a number of metrics, including inequality and education, and have more political corruption compared to states that maintained institutional separation (such as through the Protestant Reformation). Historical Protestant countries include the UK, Switzerland, Scandinavian and North American countries.

    In particular, countries with strong traditional links to the Catholic church tend to exhibit higher levels of corruption and inequality. They also perform weaker in education, sustainability and competitiveness compared to Protestant countries.

    Prosperity and educational differences between Protestants and Roman Catholics are evident even within countries. In Switzerland, the Protestant cantons (such as Geneva and Zurich) are currently the most competitive, while the Roman Catholic cantons (such as Ticino and Valais) are the least competitive. In Germany, Protestants are more educated (0.8 years more) and more prosperous (5.4% higher income) than Catholics.

    Differences in economic prosperity and education are even higher comparing data across Protestant and Catholic countries.

    Before the Reformation, literacy in England was below 10%, and the Roman church largely monopolised education. The Protestant emphasis on individual reading – especially of the Bible – dramatically increased literacy rates and access to knowledge. This paved the way for broader democratic participation, industrialisation and innovation.

    Protestantism similarly proved influential in historical law revolutions, gradually separating society from feudal institutions and papalist medieval canon law.

    In Britain, the Reformation was not just a theological shift, but a political one, breaking institutional ties with Rome and affirming national sovereignty. The long-term effects of that decision have echoed through the UK’s democratic and economic development.

    Church-state relations

    The Vatican’s political influence is often underestimated. The Roman Catholic church is the only religious body that is, at the same time, a sovereign political state – with ambassadors, diplomatic immunity and seats at international forums. The pope holds absolute executive, legislative and judicial authority.

    Many of today’s Catholic-majority countries maintain formal relations with the Roman See through bilateral treaties called concordats. These agreements exert the power of the church in countries that have them, and are rarely democratically consulted with the population.

    In Colombia, for example, concordats throughout history have linked religion and politics, have given church-influenced groups power over the economy, and allowed Rome to control what is taught in public and private education at all levels.

    Since then, liberal efforts have reestablished much of the state’s power. But the effects are still evident in the strong cultural identity and presence of Catholicism in the country. Colombia has one of the highest proportions of adults raised as Roman Catholics in the world (92%), after Paraguay (94%).

    The Vatican remains a political actor whose influence is often underestimated.
    Collection Maykova/Shutterstock

    Historically, informal gestures of religious diplomacy have laid the groundwork for further cooperation and formal agreements with Rome.

    But King Charles’s recent Vatican visit is more diplomatic than anything. It reflects modern efforts to maintain and strengthen state-to-state relations and discuss shared global concerns like climate change and peacebuilding.

    It is for this reason that the king’s visit matters – not because a formal treaty is on the table, but because it shows the strength of the UK’s experience since the Reformation. An exemplary model of the success of church-state separation, British democracy and prosperity have thrived for centuries – without formal entanglements with the Catholic church.

    Dr Jason Garcia-Portilla earned his PhD in Organization Studies and Cultural Theory at the University of St. Gallen (Switzerland), financed with a Swiss Government Excellence Scholarship–ESKAS. Additionally, he holds an MSc in Climate Change and Policy from the University of Sussex in the UK (funded by the British Chevening Scholarship).

    – ref. King Charles visits the Vatican: my research shows countries that cut ties with the Catholic Church perform better – https://theconversation.com/king-charles-visits-the-vatican-my-research-shows-countries-that-cut-ties-with-the-catholic-church-perform-better-254357

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: Foreign Minister Lin hosts banquet for delegation from New Zealand All-Party Parliamentary Group on Taiwan

    Source: Republic of China Taiwan

    Foreign Minister Lin hosts banquet for delegation from New Zealand All-Party Parliamentary Group on Taiwan

    Date：2025-04-15
    Data Source：Department of East Asian and Pacific Affairs

    April 15, 2025
    No. 096
    Minister of Foreign Affairs Lin Chia-lung hosted a luncheon on April 15 for a delegation from the New Zealand All-Party Parliamentary Group on Taiwan. On behalf of the Taiwan government, he sincerely welcomed the delegation and thanked the New Zealand Parliament for its long-standing and staunch cross-party support of Taiwan. 
     
    Minister Lin emphasized that Taiwan and New Zealand shared the values of freedom, democracy, and human rights. He added that under the Taiwan-New Zealand economic cooperation agreement (ANZTEC), economic, trade, investment, cultural, and indigenous exchanges had continued to grow steadily. In the face of authoritarian expansionism in the Indo-Pacific region, Minister Lin recognized and thanked New Zealand for repeatedly affirming the vital importance of peace and stability across the Taiwan Strait and for firmly supporting Taiwan’s participation in the international community. He expressed confidence that moving forward, both countries would continue working hand in hand to promote regional security and prosperity.

    The delegation was led by Senior Whip of the National Party Stuart Smith. He stated that his first trip to Taiwan had been in 2015 and that he was visiting again now to witness Taiwan’s political and economic development over the past decade. Noting that both Taiwan and New Zealand sought free trade and upheld universal values, he indicated that at a time when countries worldwide were facing geopolitical challenges and trade barriers, exchanging views on issues of common concern was particularly important for New Zealand as it responded to global changes. Labour Party Member of Parliament Tangi Utikere, cohead of the delegation, said that the visit would facilitate the New Zealand Parliament’s understanding of the current state of Taiwan-New Zealand relations and allow it to draw on Taiwan’s experience, making development on both sides more successful.

     The New Zealand All-Party Parliamentary Group on Taiwan was established in 2023 and first sent a cross-party delegation of parliamentarians to Taiwan in 2024. This year, the delegation will remain in Taiwan from April 13 to 18, calling on President Lai Ching-te, meeting with representatives of relevant government agencies, and visiting sites of political, economic, and cultural interest to further the Taiwan-New Zealand partnership. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Joint press statement

    Source: NATO

    (As delivered)

    President Zelenskyy, Dear Volodymyr,
    It is important for me to be standing next to you today in Odesa, a city that has been under constant attack throughout Russia’s war against Ukraine. 

    Only this weekend, Russia attacked residential buildings and a hospital here with kamikaze drones. Today we both visited a hospital where I talked with some of the people injured in the war.

    Just two days ago, in Sumy on Palm Sunday –the holiest day in the Christian calendar –  two Russian ballistic missiles killed over 30 civilians – men, women, children. 
    Over 100 were injured – many seriously.
    This is simply outrageous. It’s part of a terrible pattern of Russia attacking civilian targets and infrastructure across Ukraine. Even hundreds of hospitals and medical workers have been targeted over the last years.

    I am here today because I believe Ukraine’s people deserve real peace – real safety and security in their country. In their homes.
    My heart goes out to the people of Ukraine. 
    Those who lost loved ones in these recent strikes. And so many over the years. 
    Those who have been injured. Or lost their homes. Or had their dreams shattered by this unjust and unlawful war. 

    So I am here with you today, dear Volodymyr, 
    To affirm to you and the Ukrainian people this simple message: 
    NATO stands with Ukraine. 

    You and I know that this has been true all along.
    I also know that some have called NATO’s support into question in the last couple of months. 
    But let there be no doubt. 
    Our support is unwavering. 

    NATO continues to provide political and practical support for Ukraine by delivering security assistance and training through our command in Wiesbaden. And we work closely together in Kyiv and in Brussels. 

    What’s more, just in the first three months of 2025, NATO Allies have already pledged more than 20 billion euros in security assistance for Ukraine this year. 
    Our commitment is clear – and concrete.
    We saw further contributions as you rightly said from Allies during the latest Ramstein meeting that was held in Brussels on Friday

    Our support to Ukraine is designed to ensure that your country is strong and sovereign. Able to defend today and to deter any future aggression. 
    All of this to underpin the efforts towards a just and lasting peace. 

    Indeed, today we again spoke about the important talks that President Trump is leading with Ukraine as well as with Russia to try to end the war and secure a durable peace. 
    These discussions are not easy – not least in the wake of this horrific violence –  but we all support President Trump’s push for peace. 

    Other Allies – including through efforts led by France and the United Kingdom – are ready, willing and able to shoulder more responsibility in helping to secure a peace when the time comes.

    So let me say again – to the people of Ukraine.
    We stand with you. 
    And look forward to a day that the brave men and women of this incredible country can enjoy freedom without fear. 
    So dear Volodymyr, thank you for inviting me here today. I am grateful for your leadership, for our friendship, and for our continued cooperation. 

    Slava Ukraini.

    Question: I have one question for both of you but in different forms. First of all today Mr. Witkoff said that the peace agreement that is being discussed as we understand with Russia includes some five territories , there is no NATO, there is no five article. That is why I have a different question to you. Mr General Secretary do you understand what Russia and America discussed about NATO without you and what it means for NATO, for Ukraine and for all the world? (continues in Ukrainian)

    Mark Rutte, NATO Secretary General: Let me first say that I want to commend President Trump for breaking the deadlock and starting these talks about peace in Ukraine. I think this is important because we have seen so many people die, we have seen so many cities being destroyed, the infrastructure having been targeted by the Russians so I think this is an important effort. And I have decided not to comment on all the intermediate stages of this whole process because I do not want to interfere with the peace process. Whatever we do when it comes to helping here we do as discreetly as possible and I cannot comment on this in the press. I am sorry.

    Question: Mr Secretary General thank you for being here. The first question to you is, is there any information you could disclose on the update of the naval deployment of the coalition of the willing for securing of the Black Sea security situation? (Continues in Ukrainian)

    Mark Rutte, NATO Secretary General: NATO is involved in a couple of these talks. We are of course following closely with our American friends, the initiatives by President Trump to bring Ukraine and Russia to a ceasefire and we support those efforts. Then through our command in Wiesbaden, so-called NSATU, we are working with Ukraine. And you had a visit last week of the French and the British senior officers here in Ukraine to discuss, going forward, what will be the best format to organise the Ukrainian armed forces for the future. Of course it will also help now with the fight against the Russians but also for the long term future. Because that will, in any case, be the first line of deterrence  to make sure that whenever a peace deal is struck/a ceasefire is agreed, that the Ukrainian armed forces are, as the first line of deterrence, capable and able long term to defend the country. And there are initiatives ongoing, and I think you are particularly now referring to what the French and the Brits are working on through the Coalition of the Willing. And we are also very much, of course, part of those talks and trying to advise wherever we can these discussions in the right direction. And I am very happy that the French and the Brits took this initiative to make sure that when, as a first line of defence, you have the Ukrainian armed forces, post a peace deal/ceasefire, that there might be more necessary to make sure that Putin will never ever ever ever try this again. Because nobody wants to get back to a situation of Minsk 2014, where you think you have a sort of peace deal but basically it is not strong enough, it is not holding and Putin tries this again. And whenever we come to a conclusion of this terrible war, it has to be clear to Vladimir Vladimirovich Putin that he can never ever try again to capture one square kilometre or one square mile of Ukraine. So that is why the French, the Brits and others are discussing what we need more, on top of Ukrainian armed forces going forward, to make sure that that guarantee is there. This is all still being debated. It will also depend, it is my absolute conviction, on the exact outcome of a peace deal/a ceasefire and hopefully a strong combination of the two. What exactly will be that format and how it will work and who will do what, etc. These talks are ongoing. As we are preparing for that hopeful soon-to-be-achieved eventuality, I hope of course that NATO tries to steer that in the direction we think will be advisory.

    (response from President Zelenskyy in Ukrainian)

    Mark Rutte, NATO Secretary General: maybe I can add one sentence that Türkiye has in 2022 already successfully agreed a ceasefire on the grain deal, they agreed to a grain deal in 2022, so let’s be positive about the fact that Türkiye again tries to bring together all relevant parties and let’s hope they are successful.

    Question: in Ukrainian

    Mark Rutte, NATO Secretary General: Yes they are the aggressor. Let me be very clear. Russia is the aggressor. Russia started this war and there is no doubt.

    MIL Security OSI –

  • MIL-OSI Global: Culture can build a better world: four key issues on Africa’s G20 agenda

    Source: The Conversation – Africa – By Ribio Nzeza Bunketi Buse, Associate Professor, University of Kinshasa

    The cultural and creative industries are a growing source of income and job creation around the world, generating tens of millions of jobs. The cultural sector is also linked to soft power, to relations between countries.

    Because of this, culture is an active part of the agenda of the G20 global economic forum. Under the presidency of South Africa in 2025, the G20 has chosen four key culture focus areas: heritage restitution; socio-economic strategies for inclusivity; digital technologies; and climate action.

    Here, as a scholar of the sector, I outline why these four priorities are relevant to both the G20 and the African continent, and to South Africa itself as the host country, in the light of current global trends and issues.

    G20 and culture

    The relationship between culture and development is increasingly emphasised. The 2022 Unesco World Conference on Cultural Policies and Sustainable Development – or Mondiacult – recommended that culture be a “stand-alone” sustainable development goal.

    This proposal is underlined by the UN’s Pact for the Future, adopted in 2024. The 17 sustainable development goals, adopted by the UN in 2015, are to ensure peace and prosperity for all people by 2030. They include goals like zero hunger and reduced inequalities.



    Read more:
    What is Mondiacult? 6 take-aways from the world’s biggest cultural policy gathering

    As the global order shifts, new actors from the global south are emerging as the Brics group. However, the G20 is the only forum that includes countries from both the global north and south.

    The G20, like the G7 and Brics, has a tradition of including culture among the items for discussion at ministerial level, supported by a working group.

    Under Brazil’s presidency in 2024, the G20 Culture Working Group highlighted the relationship between education and culture. This was in line with Unesco’s Framework for Culture and Arts Education. Taking over the G20 presidency, South Africa has expanded on the cultural agenda.

    Cultural heritage

    Priority 1: the safeguarding and restitution of cultural heritage to protect human rights.

    This relates to cultural property, mainly stolen during colonisation and displayed in global south museums. It’s one of the key issues in the heritage sector today.

    After years of demands by formerly colonised countries, there’s a growing list of high profile objects being sent back home. France returned 26 Dahomey Kingdom royal treasures to Benin and the saber of El Hadj Omar Tall to Senegal; 119 Benin bronzes came from the Netherlands to Nigeria. Akan cultural objects were restituted from Japan to Côte d’Ivoire.

    This global issue has particularly affected African countries. South Africa, too, knows its importance, with the repatriation of the human remains of Saartjie Baartman by France.

    The Mondiacult 2022 declaration calls the return of cultural heritage an “ethical imperative”. It’s part of the respect for cultural rights and human rights.

    For South Africa, one of the most influential countries on the continent, this is a good way to support the 2023 position of the African Union (AU) on the urgent return of this heritage. Improving the relationship between the global north and south requires this kind of debate.

    Inclusive development

    Priority 2: integrating cultural policies in socio-economic strategies to ensure inclusive, rights-based development.

    The importance of cultural goods and services in national and international trade has been highlighted many times. Statistics show they make up a healthy share of a country’s gross domestic product (GDP).

    A 2021 study found that the cultural and creative industries contributed 4.3% to South Africa’s GDP. At African level, they are estimated to generate US$45.35 billion in income and 15.87 million jobs. According to the 2024 UN Creative Economy Outlook, exports of creative services globally rose to $1.4 trillion in 2022, an increase of 29% since 2017. Exports of creative goods reached US$713 billion, an increase of 19%.



    Read more:
    South Africa has taken over the G20 presidency from Brazil – what lessons can it learn?

    With the development of an African Continental Free Trade Area, the AU revised its plan for action on cultural and creative industries.

    South Africa can play a leading role in this priority, having drafted a national policy paper on trade agreements involving the creative and cultural industries. The country’s Creative Industries Vision 2040 aims for an annual growth rate of 6.8% of GDP for these industries.

    However, the creative economy should be rights-based development and inclusive of local communities, young people and women. The G20 countries will need to work together to support policies that enhance sustainability and equity for creative workers. This is especially important in Africa where the creative economy is largely informal and unprotected.

    Digital technologies

    Priority 3: harnessing digital technologies for the protection and promotion of culture and sustainable economies.

    Digital technology is transforming the creative economy value chain. In my survey of the COVID era’s harsh impact on creative workers, I found that digital media, online games, music and audiovisual content were able to be resilient. Their value chains, from creator to user, don’t require high levels of face-to-face interaction, and online tools can be used effectively.

    In 2024 the UN Conference on Trade and Development reported that, in 2022, the most exported creative services globally were software services (41.3%), research and development (30.7%), advertising, market research and architecture (15.5%), audiovisual services (7.9%), information services (4%) and cultural, recreational and heritage services (0.6%).

    While digital technologies like artificial intelligence (AI) can be seen as a threat to creativity and intellectual property, they can also be used to promote respect for communities and creators. The development of monitoring software for collecting music rights payments is an example.

    In 2021 the UN Educational, Scientific and Cultural Organization adopted a recommendation on the ethics of AI. It proposes that AI tools be used for the benefit of the promotion, preservation, enrichment and accessibility of intangible or tangible cultural heritage. This issue is crucial because Mondiacult 2022 declared that culture is a “global public good” and the G20 must fund research and development of the most appropriate and advanced AI tools.

    Climate change

    Priority 4: the intersection of culture and climate change – shaping global responses.

    The challenges of climate change require a range of responses. Intangible cultural heritage (like oral traditions, social practices, rituals) can help to teach how ancient societies organised their relationships with nature and how they dealt with changes.

    Art, theatre, film, gaming and many other cultural forms can educate and raise awareness about this urgent issue. The African continent has a rich cultural diversity and is a potential source of many unexpected and insightful solutions.

    Keeping it relevant

    These four priorities reflect what is important on the continent. Africa will benefit from the collective efforts of the G20 countries in implementing such priorities. The presence of the AU as a permanent member of the G20 will support South Africa’s leadership and advance the continent’s cause.

    The challenge to the culture working group is to come up with relevant recommendations that can be endorsed by the G20 Ministerial Meeting. The 2024 G7 Ministerial Meeting on Culture, along with the AU and the African Development Bank, has set the tone. Their Naples Statement on culture for the sustainable development of Africa and the world notes that the G7 countries “intend to work with African governments to harness culture as a key driver of sustainable development”.

    A G20 summit on African soil cannot do less. It has all the potential it needs to support the African cultural sector in a variety of ways.

    Ribio Nzeza Bunketi Buse 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. Culture can build a better world: four key issues on Africa’s G20 agenda – https://theconversation.com/culture-can-build-a-better-world-four-key-issues-on-africas-g20-agenda-253864

    MIL OSI – Global Reports –

  • MIL-OSI Global: Ernest Cole: the South African photographer at the centre of a powerful and heartbreaking film

    Source: The Conversation – Africa – By Kylie Thomas, Senior Researcher and Senior Lecturer (Radical Humanities Laboratory, University College Cork), NIOD Institute for War, Holocaust and Genocide Studies

    Ernest Cole is famous for photographing the everyday realities of South Africa’s racist apartheid system. His 1967 book House of Bondage ensured his damning critique of the white minority regime was seen by the world. But its publication sent him into exile and was banned at home.

    The startling discovery of a vast archive of his work in a Swedish bank vault in 2017 has returned him to public view.

    House of Bondage was republished in 2023 and then, in 2024, celebrated Haitian film-maker Raoul Peck made Ernest Cole: Lost and Found.

    It would win the documentary prize at the Cannes Film Festival and show around the world, restoring the legacy of a photographer who died penniless in New York in 1990 at the age of 49.

    As a researcher of South African photography under apartheid, I was intrigued by how the film would convey this complex life story.

    It draws extensively on Cole’s images, made in South Africa, Europe and the US. It’s a beautiful, poetic interpretation of how his images mirrored his own experiences of oppression, displacement and the loneliness of exile.

    House of Bondage

    Cole was just 10 when the state introduced the Group Areas Act and entrenched racial segregation. He was 22 when his childhood neighbourhood of Eersterust was razed to the ground. His family was among the thousands forcibly removed to a new township.

    In his second year of high school, he elected to drop out. The state had introduced Bantu Education, designed to ensure Black children learned only enough for a life of servitude.

    Cole began to study by correspondence, taking a course with the New York Institute for Photography. By 18, he’d landed a position as a darkroom assistant at Drum magazine, working alongside German photographer Jürgen Schadeberg.

    In 1959, Cole saw a copy of French street photography pioneer Henri Cartier-Bresson’s The People of Moscow, and decided he would create a similar book to convey what it meant to live under apartheid.

    He spent six years taking the photographs that would become House of Bondage, a book that exposed the apartheid state.

    Determined to publish his images, he fled to the US in 1966, where his book appeared a year later. Acclaimed internationally, it was banned for 22 years in South Africa. Cole was prohibited from returning home and spent the next 20 years stateless.



    Read more:
    Ernest Cole: South Africa’s most famous photobook has been republished after 55 years

    He hoped to find freedom in America. Instead he felt pigeonholed as a Black photographer, dismayed at only ever being commissioned to document suffering.

    He made hundreds of photographs of people in Harlem, often drawn to scenes that were impossible in South Africa. Mixed-race couples holding hands in public, young people of different races hanging out, neon signs offering “Sex, sex, sex” rather than the “Whites only” signs of segregation he documented at home.

    Commissioned to take photos in the Deep South, he found the same suffering and racism he’d thought particular to South Africa.

    In a letter to the Norwegian government requesting an emergency travel certificate to leave the US, he wrote:

    Exposing the truth at whatever cost is one thing. But having to live a lifetime of being a chronicler of misery and injustice and callousness is another.

    A life in fragments

    For me, the most poignant moment of the film is the footage of Cole speaking in his own voice in a 1969 documentary. A slight man with a sorrowful gaze, he’s seated at a table with prints of his photos:

    I’ve been banned in absentia, but that doesn’t matter because it (his book) will stand in the future. Because I’m sure South Africa will be free.

    His youthful conviction is undercut by the presence, in his voice, of the weight of all he’s experienced. Correspondence shows Cole’s book was sent to government officials in the US and Europe, and to the United Nations, but it would take decades of resistance before apartheid fell.

    Despite his fame, and the support of leading international photographers, writers and editors, Cole’s determination was ground down by the racism he encountered everywhere he went. Although he received grants to continue his work, he descended into poverty and depression.

    By the mid-1980s he stopped taking photos – his cameras were lost, stolen, or sold, and he learned that his belongings, including negatives and prints that he’d left in a hotel storage room in New York, had been discarded. Cole was destitute and ill.

    Diagnosed with pancreatic cancer, he watched Nelson Mandela’s release from prison in 1990 from his hospital bed. Cole died in New York that same year. All his negatives and the work he’d made during his life in exile were thought to be lost.

    Finding Ernest Cole

    Peck’s meditative film draws on Cole’s notebooks and letters, along with research interviews, in a rather bold attempt to have him “tell his own story”. It’s a story driven by both curiosity and heartbreak, narrated by actor LaKeith Stanfield, whose rather jarring American accent gives voice to a South African experience.

    Although she’s not mentioned in the credits, Peck’s script draws heavily on interviews by Swedish curator and researcher Gunilla Knape. Her association with the Hasselblad Foundation might account for why she remains unacknowledged – the organisation is linked to the ongoing controversy over ownership of Cole’s work.



    Read more:
    Glimpses into the history of street photography in South Africa

    In 2017, Cole’s nephew, Leslie Matlaisane, received an email requesting that he travel to Sweden to discuss the return of items belonging to his uncle, discovered in a bank vault in Stockholm.

    The film includes footage of Matlaisane’s journey to Sweden and the bizarre scene that unfolds as Cole’s archive is returned without any explanation about how it came to be either lost or found, or who’d placed it there.

    The boxes included 60,000 negatives, and Cole’s notebooks and research materials for House of Bondage. An incredible trove of history has resurfaced, but as Peck’s film shows, Cole himself was irrecoverably lost in exile.

    Ernest Cole: Lost and Found is showing in Johannesburg. It can be streamed on various services.

    Kylie Thomas 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. Ernest Cole: the South African photographer at the centre of a powerful and heartbreaking film – https://theconversation.com/ernest-cole-the-south-african-photographer-at-the-centre-of-a-powerful-and-heartbreaking-film-254508

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Temporary duties imposed on engine oils and hydraulic fluids

    Source: United Kingdom – Government Statements

    News story

    Temporary duties imposed on engine oils and hydraulic fluids

    The Government  has accepted the TRA’s recommendation to impose provisional duties on imports of engine oils and hydraulic fluids from Lithuania and the UAE.

    The Secretary of State for Business and Trade has today (16/04/2025) accepted the Trade Remedies Authority (TRA)’s recommendation to impose provisional anti-dumping duties on imports of engine oils and hydraulic fluids from Lithuania and the United Arab Emirates (UAE), following evidence of dumping that has caused injury to UK industry. These measures will be in effect for a period of up to six months. 

    A Provisional Affirmative Determination (PAD) allows temporary duties to be imposed while a full investigation is completed.  

    The investigation, which was initiated in June 2024, found on a preliminary basis that UK producers were being undercut by an average of 37% of UK sales prices, causing material injury to domestic industry. The TRA’s investigation followed an application from UK manufacturer Aztec Oils Ltd.  

    The investigation covers certain engine oils and hydraulic fluids, including passenger car motor oils, heavy-duty commercial vehicle oils, and hydraulic oils.  

    In its Provisional Affirmative Determination, the TRA has recommended provisional duties ranging from 11.60% to 24.95% for individual participating companies and countrywide rates of 49.59% for Lithuania and 59.40% for the UAE.  

    UK producers are expected to benefit from these measures by between £5 million and £55 million, depending on their ability to adjust prices in response to the duties.  

    The TRA will continue its full investigation while these provisional measures are in place.  

    Note to editors:  

    • The Trade Remedies Authority is the independent UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.   

    • The TRA is an arm’s length body of the Department for Business and Trade.   

    • Anti-dumping duties allow a country or union to act against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market.  

    • The period of investigation is from 1 April 2023 to 21 March 2024.

    Updates to this page

    Published 16 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI NGOs: Gaza has become a mass grave for Palestinians and those helping them

    Source: Médecins Sans Frontières –

    Jerusalem – As Israeli forces resume and expand their military offensive by air, ground and sea on the Gaza Strip, Palestine, forcibly displacing people and deliberately blocking essential aid, Palestinian lives are once again being systematically destroyed, warns Médecins Sans Frontières (MSF). A series of deadly attacks by Israeli forces have shown a blatant disregard for the safety of humanitarian and medical workers in Gaza.

    We call on Israeli authorities to immediately lift the inhumane and deadly siege on Gaza, protect the lives of Palestinians, humanitarian and medical personnel, and for all parties to restore and sustain the ceasefire.

    “Gaza has been turned into a mass grave of Palestinians and those coming to their assistance. We are witnessing in real time the destruction and forced displacement of the entire population in Gaza,” says Amande Bazerolle, MSF emergency coordinator in Gaza. “With nowhere safe for Palestinians or those trying to help them, the humanitarian response is severely struggling under the weight of insecurity and critical supply shortages, leaving people with few, if any, options for accessing care.”

    Over 50,000 people have been killed since October 2023, nearly a third of whom are children, according to the Ministry of Health. Since the resumption of hostilities on 18 March, more than 1,500 people have been killed, according to local authorities.

    According to the United Nations, at least 409 aid workers, most of whom were UNWRA staff, the main provider of humanitarian aid in Gaza, have been killed since October 2023. Eleven MSF colleagues, some while on duty, have been killed since the start of the war, including two in just the past two weeks.

    In the latest instance of a ruthless attack by Israeli forces on aid workers, the bodies of 15 emergency responders and the ambulances they were traveling in were found in a mass grave on 30 March in Rafah, southern Gaza. The group was killed by Israeli forces while trying to assist civilians caught in shelling on 23 March. Recent publicly shared evidence has shown that the workers and their vehicles were clearly marked and identifiable, challenging the initial claims given by Israeli authorities.

    “This horrific killing of aid workers is yet another example of the complete disregard shown by Israeli forces for the protection of humanitarian and medical workers. The silence and unconditional support of Israel’s closest allies further emboldens these actions,” says Claire Magone, General Director of MSF France. 

    MSF considers that only international and independent investigations can bring to light the circumstances of, and the responsibilities for, these attacks on aid workers.

    Although the situation has already been catastrophic for over 18 months, over the past three weeks, MSF has witnessed several incidents involving the killing of humanitarian and medical workers. The coordination of humanitarian movements with Israeli authorities, known as the Humanitarian Notification System, an already imperfect mechanism, has become more unreliable and is now barely affording any protection guarantees.

    Notified locations, in which humanitarians have informed Israel of their presence, such as health facilities where we work, compounds of humanitarian stakeholders, and MSF offices and guesthouses have been hit by shells or bullets. Areas near healthcare facilities have been subjected to strikes, fighting and evacuation orders.

    Medical facilities are not exempt from attacks and evacuation orders by Israeli forces. MSF teams have had to leave many facilities, while others continue operating with staff and patients trapped inside, unable to leave safely for hours at a time.

    On 7 April, MSF teams and patients found themselves trapped in the MSF field hospital in Deir Al-Balah, central Gaza. Rockets were launched by Hamas in close proximity to our field hospitals in Deir Al-Balah endangering both patients and staff and leading to an evacuation order of the area by Israeli forces, who also carried out strikes near the compounds of Al-Aqsa and Nasser hospitals. We strongly denounce these actions by the warring parties and call on them to respect and protect healthcare facilities, patients and medical staff.

    Since 18 March, MSF has not been able to return to Indonesian hospital in northern Gaza where our teams were set to begin paediatric care but had to flee the field hospital, which was set up right next to the compound. MSF mobile clinics in north Gaza were suspended, and in the south, teams have been unable to return to Al-Shaboura clinic in Rafah.

    The full siege on Gaza has depleted food, fuel and medical stocks. MSF is especially facing shortages in medications for pain management and chronic illnesses, antibiotics and critical surgical materials. The lack of fuel replenishment across the Strip will lead to the inevitable suspension of activities as hospitals rely on generators for electricity to keep critical patients alive and conduct lifesaving operations.

    “Israeli authorities have deliberately blocked all aid from entering Gaza for over a month. Humanitarians have been forced to watch people suffer and die while carrying the impossible burden of providing relief with depleted supplies, all while facing the same life-threatening conditions themselves,” says Bazerolle. “There is no way they can carry out their mission under such circumstances. This is not a humanitarian failure — it is a political choice, and a deliberate assault on a people’s ability to survive, carried out with impunity.”

    Israeli authorities must end their collective punishment of Palestinians.

    We urge Israel’s allies to end their complicity and stop enabling the destruction of Palestinian lives.

    MIL OSI NGO –

  • MIL-OSI NGOs: The Beginning and End of Summer Make Me Anxious

    Source: Greenpeace Statement –

    Time to bolster ourselves for another year of climate crisis and action

    FILE PHOTO (2024): A thermal image (inset) shows surface temperatures reaching as high as 61.1℃ along Plaza Miranda and Quiapo Church. The Philippines has been experiencing severe El Niño, aggravated by the climate crisis. © Greenpeace

    I used to enjoy Holy Week—the Visita Iglesia in the day, candlelit nights, the circulating bands of door-to-door prayer squads greeted by every household with whispers and reverence. This was the 90s, the height of the long summer blackouts. Even if your family had AC, you wouldn’t have enjoyed it most nights. I remember playing in the streets. It was very hot, but not intolerable. Patintero under the moon, taguan under stars.

    This is obviously a whole lot of children’s-book nostalgia, but there must be some truth to the feeling. I bring it up because I don’t look forward to summer anymore. Now, all I can think of when the days start getting warmer is the inevitable heat stroke I’ve gotten every year since 2020, more record-breaking temperatures, the bloated Meralco bills. I don’t remember daytime ever being so white hot and skin searing that every moment outdoors in the hours around noon feels like an assault. And while we know relief will come in a few months–it will be in the form of torrential rains capable of submerging all the cars in my neighborhood.

    In other words, the beginning and end of summer gives me, an adult in my 40s, anxiety. Right now is the end of the short season of reprieve: after the storms but before the high heat–which will be lifted by a new round of typhoons and supertyphoons.

    FILE PHOTO (2020): A man rests on debris following the onslaught of Typhoon Ulysses, international name ‘Vamco’ in Rodriguez town in Rizal province east of Manila, Philippines. Typhoon Ulysses battered the northern Philippines with heavy rains and strong winds knocking out power in several provinces including areas in Metro Manila and leaving thousands homeless and damaged or destroyed establishments along its path as it blew west. © Basilio Sepe / Greenpeace

    It is not lost on me that I am privileged: I live in a relatively sheltered, less flood-prone area of the capital. Millions of Filipinos live in impoverished communities hit hard and often by extreme weather that causes sickness, destruction, loss of livelihood and life. For many, this relentless cycle could be interpreted as a Sisyphean ordeal—endure one disaster after another and try to rebuild, only to be met with new threats and new loss. The reality of climate change looms large, with anxiety hanging thick in the air, never far from mind.

    Do you remember Frank Nicol Melgar Marba, the teacher and public servant from Dinagat Islands? He made headlines joining a transnational climate lawsuit against a French fossil fuel company. In 2021, Super Typhoon Odette, one of the strongest recorded storms on Earth, destroyed Frank’s family home, and left them traumatized. He once told the press: “Whenever there’s news of a typhoon coming our way, my grandmother still shakes in fear.”

    Polls and studies stretching back a decade tell us this is increasingly becoming the norm. The majority of the nation is worried about the climate crisis. Many Filipinos, especially the young, are burdened by climate anxiety.

    In 2013, Typhoon Yolanda (Haiyan) killed thousands and displaced millions in Eastern Visayas. A year later, a study found that an estimated 800,000 people in affected areas were reported to be suffering from anxiety, depression, and post-traumatic stress disorder.

    Many may still be feeling the effects to this day. Social Weather Stations (SWS) conducted a poll in 2023 which determined that 8 in 10 Filipinos believe climate change poses dangers to physical and mental health. 87% say they have personally experienced climate impacts in the past three years. 81% consider climate change a threat to their mental well-being.

    It does not help that much needed climate action by world governments is sluggish and lackluster. Majority of governments are missing deadlines for crucial greenhouse gas emissions cuts. Almost half of corporations around the world abandoned pledged climate targets and got away with it scott free. Fossil fuel consumption is on the rise, which is heating the planet. The heating planet is driving more energy consumption which then prompts the release of more emissions. It feels like being alive today–facing the notion of this escalation of climate change and its consequences–comes in two flavors: 1) aware and in despair or 2) blissfully ignorant, possibly in denial.

    Despite all of this, though, the kids seem to be alright–to a degree. True to the trope (and no, please don’t bring the resilience thing into this) Filipinos, especially the youth, are powering through even the worst circumstances. Climate anxiety is translating to climate awareness, which, in the best of cases, translates to motivation to act.

    The same cadre of local and international pollsters have found that Filipino youth are some of the most eager to do their part in addressing climate change. The 2023 SWS, for instance, says 74% of respondents agree with the statement: “People like me can do something to reduce climate risks.” Another survey from 2023 said 81% of Filipino young people are aware their actions could make a positive change in improving climate policies in the country.

    FILE PHOTO (2020): Children wearing protective masks stay inside a modular tent at the Rosauro Almario Elementary School in Tondo, Manila evacuation center. About 22 families living in flood-prone areas in San Juan were forced to evacuate due to super typhoon Rolly, international name Goni. © Basilio Sepe / Greenpeace

    I wonder if today’s young people ever got to experience childhood summers like mine. Or were they, armed early with access to all the world’s information, too addled by early onset awareness of what we’ve done to the environment? Give them a platform, place, and opportunity to channel anxiety into something. Give them support, encouragement, solidarity. Join them. Action, especially collective action, bodes well for the planet, and can ease a little panic.

    Holy Week is for rest and fortification–mental, emotional, or spiritual–for the year ahead. It’s an opportunity to decide, in the quiet of our own company, or in the company of family and friends, on who to vote for in the coming elections, on what we can do to contribute; if it is in us to be brave, for ourselves and for others, in the midst of a crisis larger than any of our fears.

    You might want to check out Greenpeace Philippines’ petition called Courage for Climate, a drive in support of real policy and legal solutions in the pursuit of climate justice.

    Courage for Climate

    The climate crisis may seem hopeless, but now is the time for courage, not despair. Join Filipino communities taking bold action for our planet.

    Make an Act of Courage Today!

    Pocholo Goitia is a writer and environmental advocate from Quezon City.

    MIL OSI NGO –

  • MIL-OSI Global: Dubai event invites researchers from across world to tackle global challenges – apply to attend

    Source: The Conversation – UK – By Adam Smith, Senior Consultant, Universal Impact

    Are you a researcher with an idea that could help solve one of today’s most pressing problems? A conference in Dubai this November will showcase research addressing a wide range of global social and environmental issues. And you can now apply to be involved – and present your work.

    Prototypes for Humanity, the organisation behind the event, will invite a group of senior academics to attend the three-day forum, which will promote innovative scientific solutions from around the world and act as a platform for international research collaboration.

    As part of the newly established Professors’ Programme, selected researchers will travel to the United Arab Emirates, with the event organisers covering the cost of flights and accommodation.

    If you’re interested, simply submit a brief abstract for an academic paper addressing one of the key themes:

    1. Wellbeing and Health Futures
    How can we best harness the latest technological developments to help people live longer and better lives? From precision medicine to artificial intelligence systems, this category encompasses crucial questions around access to healthcare and how to support an ageing society.

    2. Sustainable and Resilient Infrastructure
    This theme explores how we design, build, and maintain infrastructure that’s not only functional but future-proof. Submissions could include how to develop cities which are better able to cope with extreme climates, methods of improving water management and new models for sustainable transport.

    3. Artificial and Augmented Intelligence
    Artificial intelligence is reshaping nearly every aspect of modern life with crucial questions around citizenship, cybersecrutiy and where to draw the lines in human-AI collaboration, this theme investigates the risks and rewards inherent in our new technological age.

    4. Environmental Sustainability and Climate Action
    Many of today’s most important research questions relate to the climate crisis, whether its accelerating the uptake of green technologies, reducing pollution, or moving towards a circular economy, innovation is essential for driving sustainability and protecting the future of our planet.

    5. Socio-Economic Empowerment and Innovation
    Submissions are also welcome on how to make economic growth work for everyone including research into the evolving dynamics of the gig economy, micro-credit initiatives and questions around gender equality, as well as the use of technology for social good.

    There are also “Open” and “Speculative” categories for potentially impactful research that doesn’t fit within a single theme and studies in uncharted or emerging fields.

    Researchers should apply and submit their brief, 200- to 300-word abstracts by May 16 using this link. Those selected for the Professors’ Programme by the panel will then be asked to develop their abstract into a 1,500- to 2,000-word paper, which they will share at the Jumeirah Emirates Towers from November 17 to 20, 2025, alongside the other finalists of the Prototypes for Humanity programme.

    Big ideas

    Last year, more than 2,700 entries were submitted to the Prototypes for Humanity programme. And they came from 800 universities around the world – many from institutions which are members of The Conversation’s global media network.

    More than 100 projects were presented at the final event, which was attended by Stephen Khan, editor of The Conversation UK, who wrote a blog about his experience.

    “For The Conversation, it was an introduction to some projects that I expect you’ll hear and read more about in our content in the months to come,” he said.

    “While we rightly assess and explain events as they happen, delivering information about new research, and particularly innovative solutions that are born in the labs, studios and seminars of our partner universities is also a central element of our mission as we strive to be the comprehensive conveyor of academic knowledge.”

    Prototypes for Humanity is supported by the government of Dubai and seeks to place the Middle Eastern city at the heart of academic, research-driven solutions. The forum also awards US$100,000 to innovative research projects, recognising the commitment of academics to finding solutions to the world’s biggest issues.

    At last year’s event, Tadeu Baldani Caravieri, Director of Prototypes for Humanity, elaborated on the team’s vision of the project “as the world’s most comprehensive convener of academic innovation”.

    “The diversity, depth and range of applications received – covering all fields of sciences, technology and creative studies – make the initiative reflect the current global state of innovation and how complex global issues are manifested, and addressed, by top academic talent.

    “Together, we’re raising awareness of academia’s essential role in driving progress and collaboratively developing solutions that create tangible impacts on people’s lives.”

    This year, the event is being supported by Universal Impact, The Conversation’s commercial subsidiary, which offers specialist research communication services to academics around the world – donating profits back to its parent charity.

    The Professors’ Programme, which will help academics around the world exchange knowledge and collaborate on shared goals, fits with our mission to help researchers make real world change.

    If you, or any of your colleagues are interested in being part of the programme, you can find more information here – or apply here. Abstracts can be submitted until May 16, 2025, and successful participants will be notified by June 13, 2025.

    Universal Impact offers specialist training, mentoring and research communication services – donating profits back to The Conversation, our parent charity. If you’re a researcher or research institution and you’re interested in working together, please get in touch – or subscribe to our weekly newsletter to find out more.

    – ref. Dubai event invites researchers from across world to tackle global challenges – apply to attend – https://theconversation.com/dubai-event-invites-researchers-from-across-world-to-tackle-global-challenges-apply-to-attend-254724

    MIL OSI – Global Reports –

  • MIL-OSI China: Chinese commerce minister calls for efforts to expand service consumption

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

    BEIJING, April 16 — Chinese Commerce Minister Wang Wentao has called for multiple measures to bolster service consumption, amid efforts to spur domestic demand and economic growth.

    He made the remarks in a signed article published Wednesday in Qiushi Journal, the flagship magazine of the Communist Party of China Central Committee.

    Expanding service consumption is an important lever for stimulating domestic demand across the board, a task that has been identified as the top priority for 2025 in China’s government work report, according to the commerce minister.

    In recent years, service consumption has gained steam in China. Per capita service consumption expenditure in 2024 among residents rose 7.4 percent compared to the previous year, contributing 63 percent to the overall growth in per capita consumption expenditure.

    China has tailwinds to expand service consumption, driven by the unlocking of market potential, upgrading consumption structure and accelerating industry development, according to Wang.

    However, the minister cautioned that several challenges, such as the relatively low level of service industry openness, insufficient supply of high-quality services, and the room for improvement in consumption environment, still pose constrains on the sector’s expansion.

    To further stimulate service consumption, the government plans to roll out policies that support sectors such as household services and digital consumption, Wang said, adding that support will also be directed toward industries related to tourism, ultra-high-definition, the sports events economy, and traditional Chinese medicine health services.

    China will develop fiscal, tax, and financial policies to introduce targeted and practical measures, he said.

    A fresh move in this direction, China on Wednesday unveiled a work plan to boost service consumption. The plan proposes 48 specific measures across a broad spectrum of industries, covering both main service sectors as well as new forms of business and new consumption scenarios.

    MIL OSI China News –

  • MIL-OSI: Kingsoft Cloud Announces Pricing of Public Equity Offering

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, April 16, 2025 (GLOBE NEWSWIRE) — Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced the pricing of its underwritten public offering (the “Public Offering”) of 18,500,000 of American depositary shares (the “ADSs”), each representing 15 ordinary shares of the Company, at a price of US$11.27 per ADS or a total of 277,500,000 ordinary shares at a price of HK$5.83 per ordinary share, based upon each ADS representing 15 ordinary shares and an exchange rate of HK$7.7574 to US$1.00, the spot rate of exchange at the time of pricing. All ADSs will be offered by Kingsoft Cloud. Investors have an option to receive ordinary shares of the Company to be traded on the HKEX (the “Shares”) in lieu of ADSs in this offering.

    Subject to customary closing conditions, the underwriters expect to (i) deliver the ADSs against payment to the purchasers on or about April 17, 2025, on a “T+1” basis, through the facilities of the Depository Trust Company in the U.S.; and (ii) deliver the ordinary shares against payment therefor through the facilities of the Central Clearing and Settlement System in Hong Kong on or about April 25, 2025, on a “T+5” basis. In addition, Kingsoft Cloud has granted the underwriters a 30-day option to purchase up to an additional 2,775,000 ADSs at the Public Offering price, less underwriting discounts and commissions, which purchase, if applicable, will be settled only in ADSs.

    Morgan Stanley Asia Limited, Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, Deutsche Bank AG, Hong Kong Branch, The Hongkong and Shanghai Banking Corporation Limited, and Merrill Lynch (Asia Pacific) Limited are acting as the underwriters for the Public Offering.

    Concurrently with, and subject to, among other closing conditions, the completion of the Public Offering, the Company’s existing shareholder, Kingsoft Corporation Limited (“Kingsoft Corporation”) has agreed to purchase from the Company 69,375,000 of its ordinary shares at a price per share equal to the Public Offering price per ordinary shares, in a concurrent private placement (the “Concurrent Private Placement”). The Concurrent Private Placement to Kingsoft Corporation is being made pursuant to Regulation S of the Securities Act of 1933, as amended. The Concurrent Private Placement constitutes connected transactions within the meaning of the Listing Rules of The Stock Exchange of Hong Kong Limited and are subject to, among other conditions, (i) the approval by independent shareholders in a shareholder meeting the Company plans to convene, and (ii) the completion of the Public Offering.

    The gross proceeds to Kingsoft Cloud from the Public Offering and the Concurrent Private Placement, assuming the underwriters do not exercise its option to purchase additional ADSs, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately US$260.7 million. The Company plans to use the net proceeds from the Public Offering and the Concurrent Private Placement for (i) investments in upgrading and expanding infrastructure, (ii) investments in technology and product development, and (iii) general corporate and working capital purposes.

    The ADSs and ordinary shares are offered in the Public Offering pursuant to an automatic shelf registration statement on Form F-3 filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A preliminary prospectus supplement and an accompanying prospectus related to the proposed Public Offering have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov. The final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at: http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, or by telephone at +1-866-718-1649 or by emailing prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; China International Capital Corporation Hong Kong Securities Limited, 29/F International Finance Center, No.1 Harbor View Street, Central, Hong Kong, by email at ecm_supernova_plus@cicc.com.cn; Deutsche Bank AG, Hong Kong Branch, Attention: Asia Equity Capital Market, Level 60, International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong, or by phone at +852 2203-8166 or by email at asia.ecm.internal@list.db.com; HSBC Securities (USA) Inc. sales representative or by emailing ny.equity.syndicate@us.hsbc.com; or Merrill Lynch (Asia Pacific) Limited, c/o BofA Securities, Inc., Attention: Prospectus Department, One Bryant Park, New York, NY, 10036, United States, or by telephone at +1 (800) 294-1322 or by email at dg.prospectus_requests@bofa.com.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy ADSs, Shares or any other securities of the Company, nor shall there be any sale of ADSs or Shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to”, “could”, “potential” or other similar expressions. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud’s business and industry; the expected growth of the cloud service market in China; Kingsoft Cloud’s ability to monetize its customer base; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    About Kingsoft Cloud Holdings Limited

    Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX:3896) is a leading cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology research and development capabilities, well-architected industry-specific solutions and end-to-end fulfillment and deployment, Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.

    For more information, please visit: http://ir.ksyun.com.
      
    For investor and media inquiries, please contact:

    Kingsoft Cloud Holdings Limited
    Nicole Shan
    Tel: +86 (10) 6292-7777 Ext. 6300
    Email: ksc-ir@kingsoft.com

    The MIL Network –

  • MIL-Evening Report: Second leaders’ debate is a tame affair befitting a ‘deeply uninspiring’ campaign

    Source: The Conversation (Au and NZ) – By Andy Marks, Vice-President, Public Affairs and Partnerships, Western Sydney University

    Prime Minister Anthony Albanese and Opposition Leader Peter Dutton have had their second showdown of the 2025 federal election campaign. The debate, hosted by the ABC, was moderated by David Speers in the national broadcaster’s studios in Western Sydney.

    The leaders were asked a wide range of questions on topics such as negative gearing, nuclear energy and Australia’s relationships with the US and China. But the debate was kicked off on housing, which has been a major focus of the campaign over the last few days.

    So, how did it shape up, and how did it compare to the first debate a fortnight ago? Three experts give their analysis.

    Matthew Ricketson, Deakin University

    Ahead of tonight’s debate, commentators predicted it would have little impact because most people no longer get their news from television and because the election campaign has been deeply uninspiring.

    That’s partly an index of how drastically the media landscape has changed. As recently as 2010, nearly 3.4 million people tuned in to watch the debate between Julia Gillard and Tony Abbott, which was broadcast on all three commercial networks, as well as the ABC. That number showed evidence of widespread interest in politics.

    The number of viewers’ advance questions to the ABC tonight also illustrated keen interest, particularly on issues like the plight of potentially lifelong renters in an overheated housing market and the urgent need to tackle climate change.

    The second leaders’ debate didn’t become heated or hostile. Both the prime minister and the opposition leader stayed relentlessly on-message.

    As is well known, Albanese is no Cicero, but he was well prepared and generally clear. He was stronger on housing than his opponent, but clearly did not want to get trapped predicting energy prices again, as he had during the 2022 campaign.

    Dutton was also clear when he focused on the issue at hand. His strongest line was one he used at least three times: are you better off now than you were three years ago? It is a line used by US President Donald Trump during his successful campaign last year.

    But it was on Trump that Dutton tied himself in knots, asserting he would be able to get a deal done with Trump when virtually no one else has and then saying he did not know him. Huh?

    He was also defensive when pressed on his nuclear policy and he was all over the shop on climate change.

    Befitting the current election campaign, there were meme-able moments on offer for both. Dutton got out his line about Albanese having a problem with the truth. But he coughed up his own when he admitted making a mistake in saying Indonesian President Prabowo Subianto had “publicly announced” Russia had asked his country for a base for its aircraft.

    Michelle Cull, Western Sydney University

    After both leaders finished their opening statements in good spirits, the debate quickly turned to housing. As suggested by host David Speers, both parties have “put forward ideas that a lot of experts and economists are warning will only push up prices even more”.

    So, could the leaders explain how their plans will make housing more affordable in five or ten years?

    Albanese said his party had a plan for both demand and supply. He mentioned the Building Australia’s Future Fund to build more public housing, Build to Rent scheme to increase the private rental supply, and the 5% deposit for first home buyers. He also made note of the 100,000 homes that would be allocated only to first home buyers.

    Dutton blamed Albanese for the current housing crisis. He promoted the Coalition’s plans to allow first home buyers access up to $50,000 of their superannuation to buy a home and a planned $5 billion infrastructure fund to free up to 500,000 new home lots. Reducing immigration and foreign ownership also rated a mention.

    Dutton explained the most important part of the Coalition’s plan was to allow first home buyers a tax deduction for interest on the first $650,000 of their mortgage. When questioned about this favouring higher income earners, Dutton quickly responded that the average taxpayer would save around $11,000 a year.

    Talking tax, this provided the perfect opportunity for Speers to pose the question that many viewers wanted to ask – why are both parties not willing to review the tax breaks for investors and the capital gains tax discount?

    Dutton jumped at the chance to challenge Albanese about the modelling on negative gearing conducted by Treasury for the government last year. Albanese replied Treasury was just doing their job and looking at ideas.

    The host reminded both leaders that they themselves are property investors. When pressed about possibly placing limits on the number of properties held by investors, Dutton argued there should be no limit as we need the rentals.

    Talking rentals, Dutton said renters’ rights were up to the states, while Albanese said his party has delivered the Renter’s Rights Program and increased rental assistance.

    Andy Marks, Western Sydney University

    For the second leaders’ debate, the ABC’s new Parramatta digs, Studio 91, felt more like the legendary New York dance club, Studio 54. Prime Minister Anthony Albanese and Opposition Leader Peter Dutton stuck to their steps while the host, “DJ” David Speers, tried to disrupt their rhythm.

    Dutton opened with the Reaganesque classic, asking viewers: “Are you better off than you were three years ago?”. Albanese countered by saying Australians have done the “hard work” over the past three years, then adding, “there’s much more work to do”.

    Dutton wanted to talk about renters. Labor’s policies, he argued, would “drive up the cost of rents”. Albanese held out, preferring to talk first home buyers. “We need to give people a fair crack”, he said.

    Dutton retorted, we need to “give young Australians a go”. A “crack” or a “go”. Both options have “hit” written all over them.

    Speers then changed tunes, turning to the old election stalwart, spending versus revenue.

    “We have improved the bottom line”, Albanese assured viewers. That claim “defies the reality”, Dutton responded. Speers asked Dutton, “Where do you cut?”. No answer. Speers then quizzed Albanese. “When will power bills come down?” No answer.

    “I’m friends with Keir Starmer”, Albanese suddenly volunteered, cautioning against the Coalition’s nuclear energy plans. The UK prime minister, Albanese said, regrets his country’s nuclear adventures.

    Crossing the Atlantic, Dutton remarked, the Coalition has an “incredible relationship” with the Trump administration. The government’s current ambassador, Kevin Rudd, “can’t get a phone call with the president”, he said. The former ambassador, Joe Hockey, “used to play golf with him.”

    The second leaders’ debate traversed the dance floor to the golf course, but got no closer to differing visions for the country.

    In a rare moment of harmony, Albanese and Dutton concurred: both sides of government have failed Indigenous Australians. No debate there.

    Michelle Cull is an FCPA member of CPA Australia, member of the Financial Advice Association Australia and President Elect of the Academy of Financial Services in the United States. Michelle is an academic member of UniSuper’s Consultative Committee. Michelle co-founded the Western Sydney University Tax Clinic which has received funding from the Australian Taxation Office as part of the National Tax Clinic Program. Michelle has previously volunteered as Chair of the Macarthur Advisory Council for the Salvation Army Australia.

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

    – ref. Second leaders’ debate is a tame affair befitting a ‘deeply uninspiring’ campaign – https://theconversation.com/second-leaders-debate-is-a-tame-affair-befitting-a-deeply-uninspiring-campaign-254466

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Election Diary: there were a couple of ‘moments’ in second Albanese-Dutton encounter

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

    Two “moments” stuck out in Wednesday’s leaders’ debate, the second head-to-head of the campaign.

    Peter Dutton cut his losses over his faux pas this week when he wrongly named Indonesian president Prabowo Subianto as having said there had been a Russian approach to base aircraft in Papua.

    So that was a mistake, ABC moderator David Speers asked. “It was a mistake.”

    The other “moment” was in a discussion about negative gearing, when Anthony Albanese denied the government had sought modelling on that. The public service “certainly wasn’t commissioned by us to do so”. In fact, we know Treasurer Jim Chalmers asked Treasury to do it.

    That enabled Dutton to repeat a favourite Coalition line. “This prime minister has a problem with the truth.” (Albanese has given grist for this line by his denial earlier in the campaign that he fell off a stage, when the footage contradicted him.)

    While the leaders were predictably well-rehearsed across the broad sweep of issues, they could not prevent their weak spots being put on display.

    Albanese struggled with something that has not been canvassed enough.Wasn’t there a case for more means testing of some of the big spending the government has undertaken?

    Then of course there was the perennially unanswerable question: when will power prices come down? The PM squirmed.

    Dutton left us no more informed about what a Coalition government would cut to finance his programs, although he did concede, when asked whether cuts to the public service would be enough to cover all his spending, “The short answer is no”.

    On climate change, the opposition leader looked awkward, when asked what seemed simple questions, such as whether the impact of climate change was getting worse. That’s a judgement he’d prefer to leave to others, “because I’m not a scientist”.

    Aware that he is paying a political cost by being painted as Trump-lite, Dutton dodged when asked whether he trusted Trump. “I don’t know Donald Trump” was his lame response (although he continues to declare himself confident of being able to get a deal on tariffs with him).

    Albanese, for his part, said he had “no reason not to trust him”.

    The PM reconfirmed that in tariff discussions with the US, Australia’s critical minerals were on the table, but lacked clarity when pressed on what precisely was Australia’s proposed critical minerals reserve.

    The two leaders were at one on being behind AUKUS (just like they are on not touching negative gearing) despite increasing criticism of the agreement in Australia.

    Housing was thoroughly canvassed but without taking us much further. It now seems it is the politicians against the experts, many of whom are sceptical of much of both sides’ offerings.

    Speers’ raising the issue of renters was a reminder that the housing issue in this campaign – at least as it’s being argued by the main parties – has been firmly focused on promoting ownership. The plight of renters has been the bailiwick of the Greens.

    Asked about the one big reform change they’d like to be remembered for, Albanese nominated affordable child care.

    Dutton went to a more ambitious level, nominating energy, which was, he said, “the economy”, an inevitably more contestable area than childcare. This opened the usual claims and counter-claims about nuclear.

    For those who want to hear the next round of the leaders’ duelling, they will meet again on April 27 on commercial TV.

    Business signals post-election fight on gender-based undervaluation of work

    The Albanese government has made reducing the gender pay gap one of its signature issues. Among other initiatives, its legislation in 2022 required the Fair Work Commission to take into account the need to achieve gender equality.

    The commission’s expert panel for pay equity has been investigating five areas: pharmacists, health workers, social and community services employees, dental assistants, and child care workers.

    On Wednesday its results were released, finding gender-based undervaluation of work in all these areas and proposing pay rises up to 35%.

    There is an immediate determination for pharmacists, who will receive a 14.1% pay rise phased in over three years. In the other areas, a process of further hearings will commence.

    The government reacted cautiously. The bill for the wages of many workers in the care sector falls on to the public purse.

    A Labor spokesperson said: “A re-elected Albanese Government will engage positively with the Commission consistent with the principles set out in our submission [to the expert panel] , including our obligation to manage any changes in a fiscally and economically responsible manner”.

    The Australian Industry Group declared “many employers will struggle to meet the scale of the increased costs proposed”.

    “Industry will be  anxiously awaiting  the response of the major sides of politics  to the decision and what concrete commitments will be made to assist employers in grappling  with its implications.”

    The last thing the government wants to make on this before the election is a “concrete commitment”.

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

    – ref. Election Diary: there were a couple of ‘moments’ in second Albanese-Dutton encounter – https://theconversation.com/election-diary-there-were-a-couple-of-moments-in-second-albanese-dutton-encounter-254586

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Giving cash to families in poor, rural communities can help bring down child marriage rates – new research

    Source: The Conversation – USA – By Sudarno Sumarto, Visiting Professor at the Center for International Development, Harvard Kennedy School

    Child marriages remain common in many regions of the world. AP Photo/Victoria Milko

    Providing cash transfers to low-income families can reduce child marriage rates among girls living in rural communities.

    That is what we found in a recent study looking at the impact of social assistance programs that gave money to families in Indonesia.

    In 2006, the government of Indonesia started to roll out the Program Keluarga Harapan, or Family Hope Program. It consisted of a cash transfer to poor families on condition that they send children to school and that expectant mothers show up for prenatal health care appointments. The monthly stipends equate to about 40% of total monthly household expenditures in their communities.

    Today, the program supports about 10 million households annually and is considered the second-largest such program in lower- and middle-income countries worldwide.

    We analyzed data from Indonesia’s poverty-targeting database, which is used to select program beneficiaries based on their income.

    Our sample comprised about 1 million girls ages 14 to 17, drawn from all villages where the program operated from 2012 to 2014.

    We compared girls who live in households just above and just below the wealth eligibility cutoff for the program. Essentially, this strategy assumes that these households are very similar, but some get the money while other’s don’t.

    We found that the program reduced the incidence of child marriages by about 3.5 percentage points, from 8.7 to 5.2.

    Why it matters

    About 650 million girls alive today were married as children.

    Though most countries have instituted laws prohibiting marriages under the age of 18, child marriages remain common in many regions of the world.

    The continued existence of child marriage is worrisome for several reasons. Research has linked child marriage to higher infant and maternal mortality, a higher risk of sexually transmitted diseases, more exposure to domestic violence, reduced decision-making power inside marriage, lower educational attainment and worse health and labor market outcomes.

    Since child marriage rates tend to be higher among poorer households, many researchers have argued that income constraints are a main reason why poor households marry off their daughters at very young ages.

    Consequently, researchers have explored whether policies that address poverty, including through measures such as giving people cash, can help reduce child marriages.

    Previous studies have faced certain empirical challenges as either the cash transfer programs under investigation were set up by NGOs or researchers themselves, thereby providing little insights on the effectiveness of actual government policies, or included sample sizes that were too small.

    Our study is among the first to provide large-scale evidence of a cash-transfer program’s success drawn from a conventional, government-implemented social assistance program.

    It is also worth briefly commenting on the political context in which social assistance programs are typically embedded. In Indonesia, as everywhere in the world, social assistance programs are regularly under scrutiny for their sizable costs to the government and taxpayer.

    Our study suggests that these programs can generate positive benefits well beyond their principal target outcomes, such as tackling poverty or children’s health and education – which should be considered when discussing the cost-effectiveness of such programs.

    What’s next

    Because cash transfers also affect other areas such as health and education, it isn’t known the exact pathway in which they reduce child marriages – that is to say, it could be that being in better health and getting more years of education can reduce the chances that a girl will marry.

    For example, girls with better access to education can earn higher pay and therefore may not feel the same pressure to marry early. And boys who spend more time in school may move to cities for higher-paying jobs. In that case, fewer single men are around in rural areas, leading to delays in local marriages.

    We plan to stay in touch with the Indonesian government regarding its attempts to further bring down child marriage rates. Likewise, we plan to conduct follow-up studies with the specific social assistance program Program Keluarga Harapan and other government programs to study their effects.

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

    – ref. Giving cash to families in poor, rural communities can help bring down child marriage rates – new research – https://theconversation.com/giving-cash-to-families-in-poor-rural-communities-can-help-bring-down-child-marriage-rates-new-research-251888

    MIL OSI – Global Reports –

  • MIL-OSI Global: The sudden dismissal of public records staff at health agencies threatens government accountability

    Source: The Conversation – USA – By Reshma Ramachandran, Assistant Professor of Medicine, Yale University

    Mass layoffs at the Department of Health and Human Services are continuing as the agency makes good on its intention, announced on March 27, 2025, to shrink its workforce by 20,000 people. Among workers dismissed in early April were several teams responsible for fulfilling requests for access to previously unreleased government data, information and records under a federal law known as the Freedom of Information Act, or FOIA.

    At the Centers for Disease Control and Prevention, the offices that fulfill such requests have been eliminated, according to press reports. In 2024 alone, CDC received 1,800 requests for access to public records. At the Food and Drug Administration and National Institutes of Health, which together responded to almost 14,000 requests in 2024, multiple teams of FOIA staff were fired. FOIA offices at other HHS agencies were affected, too.

    Most people may never file a public records request with a federal agency. But the fact that anyone is allowed by law to do so enables the public to hold government accountable and has catalyzed important government reforms. FOIA requests at federal health agencies have been particularly consequential. They have pushed companies to take unsafe drugs off the market, led to reforms that prevent unnecessary delays in communicating public health risks, and prompted policies that lower prices and improve access to taxpayer-funded health technologies.

    I am a health services researcher who studies the effects of public health regulation, and I have observed how the transparency enabled by FOIA can benefit patients, clinicians and researchers. Although HHS Secretary Robert F. Kennedy Jr. has stated that federal public health agencies will embrace “radical transparency”, closure of these offices suggests otherwise.

    What is an FOIA public records request?

    The Freedom of Information Act was passed in 1966 to increase government transparency in response to a rise in government secrecy during the Cold War.

    Anyone can request documents from the federal government through FOIA.

    The law requires agencies within the federal government’s executive branch to proactively publish certain procedural and other materials and to publicly disclose certain types of information. It also requires the federal government to disclose any documents that don’t fall into those categories in response to a written request, as long as they are not exempt due to issues of national security, foreign policy or business interests.

    Any member of the public, citizen or not, can file a FOIA request.

    Notably, private companies are the top requesters. They use FOIA to gain competitive advantage, support litigation and become familiar with regulations and policies that affect their business model. The next most frequent requesters are everyday people. After them come law firms, which are often supporting private companies, followed by the news media and nonprofit organizations.

    What can FOIA requests to federal health agencies reveal?

    FOIA requests to HHS agencies have led to significant shifts in public health regulation and policy.

    In one example from the early 2000s, researchers and media outlets filed FOIA requests to the FDA related to a drug called Vioxx, or rofecoxib. The drug, manufactured by the pharmaceutical company Merck, was approved by the FDA as a supposedly safer alternative for osteoarthritis pain. But the documents revealed that Merck had significantly downplayed the drug’s increased risk for heart attacks and strokes.

    Information disclosed through these requests prompted congressional investigations that led to new laws requiring companies to report results of all clinical trials in a public online database – including when trials show that treatments have no meaningful benefit or are unsafe.

    The new laws also authorized the FDA to require companies to conduct additional safety studies after a drug’s approval. This means the agency can take faster action to prevent patient harm by adding warnings to drug labels, issuing warnings of potential harms directly to doctors or withdrawing unsafe treatments entirely.

    Importantly, FOIA enables ongoing oversight. In 2021, my colleagues and I published an investigation that used FOIA to determine whether the FDA and NIH were enforcing those clinical trial transparency laws. We found that companies had failed to update thousands of clinical trials in the database with their results, and that the FDA and NIH were doing little to compel them. Using the FOIA data as evidence, we successfully petitioned the FDA to step up its enforcement and to publicly list the companies that were still not complying.

    There are countless other examples of how stakeholders have used FOIA to hold the government accountable. FOIA requests filed by lawyers, news outlets and citizens of Flint, Michigan, in 2016 revealed that state and local public health officials withheld information about the contamination of the city’s drinking water. Their secrecy potentially delayed response measures that could have prevented a recurrent disease outbreak.

    Flint residents protest outside the Michigan State Capitol in January 2016.
    Shannon Nobles/Amsterdam News via Wikimedia Commons, CC BY-SA

    During the COVID-19 pandemic, FOIA requests to HHS agencies filed by news outlets and nonprofit organizations revealed that despite billions of taxpayer dollars and other resources invested into COVID-19 vaccine development, the U.S. government had waived away their ability to take future action and not negotiated terms to ensure affordable access if companies later hiked up prices.

    What now for FOIA at HHS?

    The sudden dismissal of FOIA teams at the CDC, FDA, NIH and other federal public health agencies will limit these agencies’ ability to respond to new and ongoing requests as required by law. This will worsen an already hefty FOIA backlog at HHS agencies.

    Cuts to FOIA staff also hinder the public from using this law to examine and potentially challenge recent agency actions under the new administration. On April 5, 2025, the watchdog group Citizens for Responsibility and Ethics in Washington filed several FOIA requests on the involvement of the Department of Government Efficiency, or DOGE, in disbanding the FOIA team and on the CDC’s reported suppression in March of an expert assessment of the Texas measles outbreak.

    Based on the automated response – which read that FOIA staff had been placed on administrative leave and could not respond to requests – the group filed a lawsuit challenging the FOIA office closure, arguing that it violates the Freedom of Information Act and other administrative law.

    Limited staff capacity may also curtail agencies’ ability to proactively disclose information, such as data on drug efficacy and safety posted by the FDA. Patients and clinicians access such information to make decisions about using and prescribing medications.

    HHS representatives have stated that they will resume FOIA processing, centralizing the various agency offices under HHS in a more streamlined approach. Whether such an office with significantly diminished capacity and a lack of agency-specific expertise will be able to effectively and efficiently respond to the over 50,000 requests for records received annually remains unclear.

    A pattern of barriers to public input and accountability

    FOIA is far from a perfect tool for achieving transparency in how the government regulates health and biomedical research and policy. In fact, at least at the FDA, FOIA is costly and inefficient – partly, as my colleagues and I have written, because of the agency’s self-imposed, burdensome protocols. But without an enforceable replacement strategy, it is the only tool available to the public.

    The Trump administration has taken several other steps to reduce transparency of federal public health agencies, leaving the public with limited formal avenues outside of the courts to weigh in on agency actions.

    On March 3, 2025, HHS rescinded a long-standing policy requiring it to solicit public comments on regulations related to public property, loans, grants, benefits or contracts. Advisory committee meetings where agencies convene independent experts to provide recommendations and where public stakeholders can provide input have been canceled or postponed.

    Additionally, the newly formed Make America Healthy Again Commission led by Kennedy has met behind closed doors and without prior public notice, attended only by select, aligned members. It remains unclear if future meetings will be public.

    Not only is closure of FOIA offices across HHS agencies yet another blow to government transparency, but it also prevents the public from holding agencies accountable and pushing for changes that improve health.

    Reshma Ramachandran receives research funding support from Arnold Ventures and previously received research funding support from the U.S. Food and Drug Administration and Stavros Niarchos Foundation. She serves on the board of directors in unpaid capacity for the non-profit organization, Doctors for America.

    – ref. The sudden dismissal of public records staff at health agencies threatens government accountability – https://theconversation.com/the-sudden-dismissal-of-public-records-staff-at-health-agencies-threatens-government-accountability-254024

    MIL OSI – Global Reports –

  • MIL-OSI Global: Cory Booker’s long speech offers a strategy for Trump opponents in a fragmented media landscape

    Source: The Conversation – USA – By Erik Johnson, Associate Professor of Communication and Media Studies, Stetson University

    Sen. Cory Booker speaks to reporters in the Senate Chamber after delivering a record-setting floor speech at the U.S. Capitol on April 1, 2025. Tasos Katopodis/Getty Images

    Sen. Cory Booker’s record-breaking, 25-hour Senate floor speech, which began on March 31, 2025, and ended on April 1, momentarily snatched the national spotlight from President Donald Trump.

    The ever-churning national news cycle has already moved on from the spectacle.

    But as communication studies scholars, we believe Booker’s speech offers important lessons for Trump opponents in a fragmented political and media landscape.

    Our analysis of Booker’s speech, its media coverage and Booker’s use of online platforms to promote his marathon performance illustrate one way to disrupt the constant public spotlight on Trump.

    Conventions of long speeches

    In research published in 2023, we compared filibusters and long speeches in the United States and overseas. The long speeches we examined took place in national parliaments and political party meetings across the world.

    Our research uncovered three patterns.

    Long speeches incorporate varied topics and texts. Whether or not these digressions are relevant to the issue at hand, they make the speaker’s remarks last longer.

    In Sen. Rand Paul’s nearly 13-hour filibuster of John Brennan’s CIA nomination in 2013, for example, he read articles on drone warfare alongside a portion of “Alice in Wonderland.” And Sen. Alfonse D’Amato’s 1986 filibuster of a military spending bill included a partial reading of the District of Columbia phone book.“

    Sen. Rand Paul, R-Ky., leaves the floor of the Senate after his filibuster of the nomination of John Brennan to be CIA director on March 7, 2013.
    AP Photo/Charles Dharapak

    Long speeches also include expected interruptions to the speaker’s performance and address a variety of audiences.

    That’s what happened during Sen. Strom Thurmond’s 1957 filibuster of the Civil Rights Act – the longest speech on the Senate floor before Booker’s performance. When Thurmond needed a bathroom break during his 24-hour, 18-minute filibuster, Sen. Barry Goldwater assisted by stalling with a report on military preparedness.

    These patterns of topical digression and expected interruption challenge the image of filibusters as individual acts of continuous endurance promoted in films such as ”Mr. Smith Goes to Washington.“ And they apply to Booker’s Senate speech.

    Our research also demonstrated how the media reframes the complexity of long speeches into simplified narratives. This coverage sometimes differs as different outlets target varied audiences.

    News reports on Thurmond’s filibuster bolstered an image of him as the lone senator defending segregation while the rest of the Senate slept.

    After state Sen. Wendy Davis’ filibuster of a 2013 anti-abortion bill in Texas, supporters linked the filibuster to her rising political prospects, while opponents disparaged her with the nickname Abortion Barbie.

    These reactions do not grapple directly with the wide-ranging content of long speeches. But they do allow them to reach audiences in ways that can shape popular memory of the event.

    Booker’s 25-hour speech

    Like other long speeches we have studied, Booker’s Senate speech addressed several topics.

    Booker read a passage from the Federalist Papers that advocated for constitutional checks and balances on the executive branch. At another point, he quoted federal appellate Judge Learned Hand, who was called the “Tenth Justice” of the Supreme Court in the first half of the 20th century. Booker also used personal anecdotes that linked his parents to the civil rights struggle and reflected on his first senate campaign.

    But mainstream news stories covering Booker’s speech produced a largely coherent summary of the overall point of the marathon talk – as they saw it, it was a stand against Trump.

    Booker’s speech also aligned with another convention of long speeches – his monologue was broken up by the parliamentary questions of fellow senators.

    Numerous Democratic allies gave Booker a break as they introduced issues of their own interest. Minnesota Sen. Amy Klobuchar, for example, used her time to discuss Bob Dylan.

    After the speech, however, many news outlets focused on Booker’s physical feat. This directed attention away from the hodgepodge of voices and sources in the speech.

    Fielding reporters’ questions after yielding the Senate floor, Booker discussed his use of fasting to prepare. And The New York Times reported on the effects of standing for so long and not sleeping.

    Debates about whether or how speakers stop to use the bathroom are a source of enduring fascination surrounding long speeches. It’s something that Thurmond biographer Joseph Crespino calls the “urological mystery.”

    Media fixation on Booker’s body reimagined him as the sole speaker.

    Strategies shaping online coverage

    When Booker broke the record, roughly 115,000 people were streaming the speech on YouTube. A TikTok livestream of the event received 350 million likes by the end of the day.

    Booker was prepared for this online attention. Throughout the speech, he repeated a strategic set of phrases. Those ranged from “Let’s get in good trouble” – a reference to the late John Lewis, a Georgia Democrat who served in the U.S. House of Representatives, that appeals to Booker’s political base – to “This is a moral moment,” a slogan that evokes Rev. William Barber II’s broad-based “moral movement.”

    After the speech, Booker repeated these taglines on social media, at a New Jersey town hall and in interviews with national media.

    In this image provided by Senate Television, Sen. Cory Booker, a New Jersey Democrat, speaks on the Senate floor on April 1, 2025.
    Senate Television via AP

    Trump’s “flood the zone” approach to policymaking, which occupies media coverage through overwhelming activity, has been widely discussed by the media.

    Booker’s speech demonstrates that for resistance to be effective, it must be noticed.

    His use of easily excerpted catchphrases targeted media platforms built around short, viral video clips. The length of Booker’s speech made it newsworthy, but short clips are necessary to sustain attention online.

    On April 2, news commentators and media outlets posed a number of questions that were not about Trump: Why did Booker speak that long? How did he prepare? Was he wearing a diaper?

    These questions are part of the simplifications that occur in response to long speeches, and the media briefly paused from constant Trump coverage to ask them again.

    Other coverage has noted that Google searches for Booker have increased since the speech – and it has speculated whether the speech might improve Democratic Party approval ratings.

    More recently, an April 13 op-ed in the Atlanta Journal-Constitution picked up on Booker’s use of “good trouble” and declared, “Cory Booker is following in footsteps of Rep. John Lewis.”

    By grabbing hold of a stage and not letting go, Booker became a figure of focus for at least one news cycle.

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

    – ref. Cory Booker’s long speech offers a strategy for Trump opponents in a fragmented media landscape – https://theconversation.com/cory-bookers-long-speech-offers-a-strategy-for-trump-opponents-in-a-fragmented-media-landscape-253911

    MIL OSI – Global Reports –

  • MIL-OSI Global: 200 years ago, France extorted Haiti in one of history’s greatest heists – and Haitians want reparations

    Source: The Conversation – USA – By Marlene L. Daut, Professor of French and African American Studies, Yale University

    A French propaganda engraving from 1825 depicts King Charles X bestowing freedom on a Black man kneeling before him in chains. ‘S.M. Charles X, le bien-aimé, reconnaissant l’indépendance de St. Domingue,’ 1825, Bibliothèque Nationale de France, Cabinet des Estampes, CC BY-SA

    In 2002, Haiti’s former president Jean-Bertrand Aristide argued that France should pay his country $US22 billion.

    The reason? In 1825, France extracted a huge indemnity from the young nation, in exchange for recognition of its independence.

    April 17, 2025, marks the 200th anniversary of that indemnity agreement. On Jan. 1 of this year, the now-former president of Haiti’s Transitional Presidential Council, Leslie Voltaire, reminded France of this call when he requested that France “repay the debt of independence and reparations for slavery.” In March, tennis star Naomi Osaka, who is of Haitian descent, added her voice to the chorus in a tweet wondering when France would pay Haiti back.

    As a scholar of 19th-century Haitian history and culture, I’ve dedicated a significant portion of my research to exploring Haiti’s particularly strong legal case for restitution from France.

    The story begins with the Haitian Revolution.

    France instituted slavery in the colony of Saint-Domingue on the western third of the island of Hispaniola – today’s Haiti – in the 17th century. In the late 18th century, the enslaved population rebelled and eventually declared independence. In the 19th century, the French demanded compensation for the former enslavers of the Haitian people, rather than the other way around.

    Just as the legacy of slavery in the United States has created a gross economic disparity between Black and white Americans, the tax on its freedom that France forced Haiti to pay – referred to as an “indemnity” at the time – severely damaged the newly independent country’s ability to prosper.

    The cost of independence

    Haiti officially declared its independence from France on Jan. 1, 1804. In October 1806, following the assassination of Haiti’s first head of state, the country was split into two, with Alexandre Pétion ruling in the south and Henry Christophe ruling in the north.

    Despite the fact that both Haiti rulers were veterans of the Haitian Revolution, the French had never quite given up on reconquering their former colony.

    In 1814, King Louis XVIII, restored as king after the overthrow of Napoléon earlier that year, sent three commissioners to Haiti to assess the willingness of the country’s rulers to surrender. Christophe, crowned king in 1811, remained obstinate in the face of France’s exposed plan to bring back slavery. Threatening war, the most prominent member of Christophe’s cabinet, Baron de Vastey, insisted,“ Our independence will be guaranteed by the tips of our bayonets!”

    In contrast, Pétion, the ruler of the south, was willing to negotiate, hoping that the country might be able to pay France for recognition of its independence.

    In 1803, Napoléon had sold Louisiana to the United States for US$15 million. Using this number as his compass, Pétion proposed paying the same amount. Unwilling to compromise with those he viewed as “runaway slaves,” Louis XVIII rejected the offer.

    Pétion died suddenly in 1818, but Jean-Pierre Boyer, his successor, kept up the negotiations. Talks, however, continued to stall due to Christophe’s stubborn opposition.

    “Any indemnification of the ex-colonists,” Christophe’s government stated, was “inadmissible.”

    Once Christophe died in October 1820, Boyer was able to reunify the two sides of the country. However, even with the obstacle of Christophe gone, Boyer repeatedly failed to successfully negotiate France’s recognition of independence. Determined to gain at least suzerainty over the island – which would have made Haiti a protectorate of France – Louis XVIII rebuked the two commissioners Boyer sent to Paris in 1824 to try to negotiate an indemnity in exchange for recognition.

    On April 17, 1825, Charles X, brother to Louis XVIII and the new French king, performed a sudden about-face. Charles X issued a decree stating that France would recognize Haitian independence but only at the price of 150 million francs – or nearly twice the 80 million francs the U.S. had paid for the Louisiana territory.

    Baron de Mackau, whom Charles X sent to deliver the ordinance, arrived in Haiti in July, accompanied by a squadron of 14 brigs of war carrying more than 500 cannons.

    His instructions stated that his “mission” was “not a negotiation.” It was not diplomacy either. It was extortion.

    Amid the threat of violent war and a looming economic blockade, on July 11, 1825, Boyer signed the fatal document, which stated, “The present inhabitants of the French part of St. Domingue shall pay … in five equal installments … the sum of 150,000,000 francs, destined to indemnify the former colonists.”

    French prosperity built on Haitian poverty

    Newspaper articles from the period reveal that the French king knew the Haitian government was hardly capable of making these payments, as the amount was nearly six times Haiti’s total annual revenue. The rest of the world seemed to agree that the agreement was absurd. One British journalist noted that the “enormous price” constituted a “sum which few states in Europe could bear to sacrifice.”

    Forced to borrow 30 million francs from French banks to make the first two payments, it was hardly a surprise to anyone when Haiti defaulted soon thereafter. Still, a subsequent French king sent another expedition in 1838 with 12 warships to force the Haitian president’s hand. The 1838 revision, inaccurately labeled “Traité d’Amitié” – or “Treaty of Friendship” – reduced the outstanding amount owed to 60 million francs, but the Haitian government was once again ordered to take out crushing loans to pay the balance.

    It was the Haitian people who suffered the brunt of the consequences of France’s theft. Boyer levied draconian taxes in order to pay back the loans. And while Christophe had been busy developing a national school system during his reign, under Boyer, and all subsequent presidents, such projects had to be put on hold. Moreover, researchers have found that the independence debt and the resulting drain on the Haitian treasury were directly responsible not only for the underfunding of education in 20th-century Haiti, but also for the lack of health care and the country’s inability to develop public infrastructure.

    A 2022 analysis by The New York Times, furthermore, revealed that Haitians ended up paying more than 112 million francs over seven decades, or $560 million – estimated between $22 billion and $44 billion in today’s dollars. Recognizing the gravity of this scandal, French economist Thomas Piketty has argued that France should repay at least $28 billion to Haiti in restitution.

    A debt that’s both moral and material

    Former French presidents, from Jacques Chirac to Nicolas Sarkozy to François Hollande, have a history of punishing, skirting or downplaying Haitian demands for recompense.

    In May 2015, when Hollande became only France’s second head of state to visit Haiti, he admitted that his country needed to “settle the debt.” Later, realizing he had unwittingly provided fuel for the legal claims already prepared by attorney Ira Kurzban on behalf of the Haitian people, Hollande clarified that he meant France’s debt was merely “moral.”

    To deny that the consequences of slavery were also material is to deny French history itself. France belatedly abolished slavery in 1848 in its remaining colonies of Martinique, Guadeloupe, Réunion and French Guyana, which are still territories of France today. Afterward, the French government demonstrated once again its understanding of slavery’s relationship to economics when it financially compensated the former “owners” of enslaved people.

    The resulting racial wealth gap is no metaphor. In metropolitan France, 14.1% of the population lives below the poverty line. In Martinique and Guadeloupe, in contrast, where more than 80% of the population is of African descent, the poverty rates are 38% and 46%, respectively. The poverty rate in Haiti is even more dire at 59%. And whereas the gross domestic product per capita – the best measure of a country’s standard of living – is $44,690 in France, it’s a mere $1,693 in Haiti.

    These discrepancies can be viewed as the concrete consequences of stolen labor from generations of Africans and their descendants.

    In recent years, French academics have begun to increasingly contribute to the conversation about the longitudinal harms the indemnity brought to Haiti. Yet what effectively amounts to a statement of “no comment” has historically been the only response from France’s current government under President Emmanuel Macron.

    Yet if recent reports prove accurate, on the bicentennial of the indemnity “agreement,” Macron plans to issue a “landmark statement” about France’s “colonial legacy,” along with several “memory initiatives,” designed to “keep the memory of slavery alive throughout the national territory, as in Haiti.”

    But to me, the only initiative from France that would matter would be one detailing how it plans to provide economic recompense to Haitians.

    This is an updated version of an article originally published on June 30, 2020.

    Marlene L. Daut 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. 200 years ago, France extorted Haiti in one of history’s greatest heists – and Haitians want reparations – https://theconversation.com/200-years-ago-france-extorted-haiti-in-one-of-historys-greatest-heists-and-haitians-want-reparations-254550

    MIL OSI – Global Reports –

  • MIL-OSI Global: Railways were essential to carrying out the Holocaust – decades later, corporate reckoning continues

    Source: The Conversation – USA – By Sarah Federman, Associate Professor of Conflict Resolution, Kroc School of Peace Studies, University of San Diego

    Liliane Lelaidier-Marton stands in front of the kind of car her parents were forced into in Drancy, France, when deported to their deaths. Sarah Federman

    The Holocaust could not have happened without the railways.

    Preeminent Holocaust scholar Raul Hilberg underscored that almost everyone murdered at a camp arrived by train, including Jews, political prisoners and other “undesirables.” Since the 1990s, groups of survivors have asked European railway companies to acknowledge and atone for their critical role – a reminder that war, genocide and other atrocities cannot occur without corporate participation.

    One long-running attempt met a setback on Feb. 21, 2025, when the U.S. Supreme Court threw out an appeals court ruling in favor of survivors seeking atonement from Hungary’s state railways. The lower court held that plaintiffs could sue the company over looting during the deportation of 440,000 Jews, most of whom were murdered at Auschwitz-Birkenau. The Supreme Court disagreed, however, saying the case did not warrant an exception to law protecting foreign governments from being sued in U.S. courts.

    SS personnel select Hungarian Jews for life or death after their arrival at Auschwitz.
    Bernhard Walter/Yad Vashem via Wikimedia Commons

    Even without legal rulings, however, survivors have sometimes mobilized enough public support to force rail companies to confront their complicity.

    I wrote a book about one such case: the French national railways’ multiple roles in World War II, and the company’s 30-year struggle to make amends. I dug through archives and legal documents and spoke to over 120 experts – including historians, legislators, executives and more than 90 Holocaust survivors – about what obligations, if any, they believe railways have today.

    The French national railways’ wartime activities and slow roll to accountability helped me better understand and articulate productive ways that companies can respond to demands for atonement decades or more after the events.

    The author stands with Daniel Urbejtel, one of the youngest people who survived deportation to Auschwitz.
    Sarah Federman

    Multiple wartime roles

    The French railway company, known as the SNCF, played more than one role during the war. Depending on which facts you focus on, you can see the company as a victim, hero or perpetrator.

    With roughly 500,000 employees at the time, the company found itself in the crosshairs of the Nazi occupation. When France capitulated to Germany on June 22, 1940, the country was divided into occupied and free zones, and the French national railways were put under German command.

    Unlike companies such as Hugo Boss, which made Nazi uniforms, the SNCF did not financially profit from the occupation. To the contrary, Germans rarely paid the rail company the full amounts due. Machines were destroyed, an estimated 24,000 railway workers were sent to forced labor, and 2,229 railway workers were murdered.

    After the war, the acts of the brave railway workers came to light. Some slowed trains so deportees could jump off; some found other ways to facilitate escapes. Near the city of Lille, some SNCF workers helped save dozens of Jewish children. Most importantly, some workers coordinated with the French Resistance on D-Day, sabotaging trains to prevent German armaments from reaching the Normandy beaches and fighting off the Allies.

    After the war, the SNCF amplified heroic stories with the help of the French government, using a film, pamphlets and other means.

    ‘La Bataille du Rail,’ a 1946 film about French railway workers during the war.

    These stories are true – even if those workers made up less than 1% of the workforce. Surely, some stories were never told. But even if we double or triple the number, such resistance was an exception, not the rule.

    Senior executives reported on acts of sabotage and did little to save their own Jewish colleagues. In fact, Vichy France – the wartime collaborationist government – put the head of the SNCF, Pierre-Eugene Fournier, in charge of liquidating Jewish businesses. He did so efficiently and complained only about German interference.

    French Jews are forced into a train during deportations in Marseille in January 1943.
    Wolfgang Vennemann/German Federal Archives via Wikimedia Commons, CC BY-SA

    The SNCF transported approximately 76,000 Jewish deportees in merchandise cars to the German border, where a Nazi train driver carried them on to their deaths. While it’s possible the company didn’t understand the mass murder occurring at Auschwitz or other camps, drivers knew they carried unwilling passengers crammed together with little food, water or air in extreme weather without stopping. The deportation trains continued for two months after D-Day.

    Push for justice

    Yet SNCF’S image as part of the Resistance lived on in France until the 1990s, when survivors first approached the company for atonement. SNCF escaped legal liability, but public pressure forced the company to respond. Though it never financially compensated victims directly, the SNCF did commission an independent study, opened its archive to the public, made statements of regret and contributed to Holocaust commemoration and education.

    A couple married for over 50 years discovered that their fathers were deported on the same train.
    Sarah Federman

    The conversation then moved beyond French borders. In 2014, after Holocaust survivors protested the SNCF’s bids for contracts in the U.S., French and American ambassadors hammered out a US$60 million fund to compensate survivors who were not covered by other programs.

    The SNCF’s journey toward accountability encouraged debates involving rail companies in the Netherlands, Belgium and Hungary, which had also transported hundreds of thousands of people to their deaths.

    In 2019, Holocaust survivor Salo Muller successfully lobbied the Dutch state-owned railways for an apology and compensation for deportees. The company gave €15,000 – about $16,500 – to each survivor who had been forced to pay for their own ticket to be transported in horrific conditions to death camps. In the case of deceased survivors, the railway offered half that amount to heirs.

    Not about the money

    Liliane Lelaidier-Marton in front of a memorial at Drancy, France, where her father was deported.
    Sarah Federman

    In 2012, historian Michael Marrus invited me to join him at Corporate Liability for Human Rights Violations, a conference at the University of Tel Aviv. There, he slapped his hands on the table and all but shouted to his senior colleagues, “It’s not about the money!”

    Judicial rulings and financial payouts make headlines and create important precedents. But my interviews with survivors confirmed the spirit of Marrus’ words: “People want to set the record straight, to tell the story, and to have their history constitute a warning.”

    Liliane Lelaidier-Marton took me to the Shoah Memorial in Drancy, France, where her parents had been interned before deportation. She appreciated the memorials and visitor center, which acknowledge her loss and their suffering. Renée Fauguet-Zejgman and I went to a ceremony in Paris together so she could read her murdered father’s name – an opportunity sponsored, in part, by the SNCF. Daniel Urbejtel, one of the youngest to survive Auschwitz, didn’t hold on to special anger against the railways. But when I told him about their statement of regret and funding of memorial sites, he said, “I’m glad that they did that.”

    Renée Fauguet-Zejgman points to her father’s name on a memorial in Paris.
    Sarah Federman

    Leo Bretholz, who jumped out of an SNCF train bound for Auschwitz, wanted a verbal acknowledgment of the harm and an apology along with compensation. Stanley Kalmanovitz, who received over $200,000 from the 2014 settlement for his deportation to Auschwitz, told me, “The money came at a good time in my life … but this is not a settlement of conscience.” He knew the railway company was trying to win U.S. contracts and saw the money as a way to get survivors out of the way.

    Motivations aside, Kalmanovitz wondered what people today expect from the SNCF workers during the war. He said, “What was the French railroad supposed to do? Someone has a gun at your head, what do you do? You take the bullet? Then, if everyone takes a bullet, who’s left?”

    Historians only know of one French train driver who defied orders to drive his train. Léon Bronchart refused to drive a train filled with either German soldiers or political prisoners. He lost his bonus and title, but not his life.

    While a number of survivors I spoke with wanted SNCF to atone, others expressed misgivings about holding today’s company accountable for the actions of its predecessors.

    Thousands of Jews around Paris were arrested in July 1942, including more than 4,000 children. Most were later deported to Auschwitz.
    Antoine Gyori/Sygma via Getty Images

    Restoring dignity

    Today, some companies are trying to address their connections to mass atrocities: not only the Holocaust, but also other genocides, the transatlantic slave trade, colonialism and even ecological destruction.

    I encourage companies, institutions and ambassadors to focus on addressing harm, rather than on calculating their institution’s percentage of guilt or complicity. These difficult – if not impossible – calculations distract institutions from supporting the innocent people grappling with the aftermath and from preventing future harm.

    While money matters, people also want their dignity restored and suffering acknowledged – and companies can do this work without lawsuits prompting them. When they do it on their own, stakeholders see their efforts as evidence of a moral conscience rather than an economic necessity.

    This look back encourages stakeholders to consider how today’s corporate actions may be judged in the years ahead. Will future generations celebrate or condone their use of natural resources, labor practices or any participation in the deportations of their day?

    Sarah Federman received funding from the Fondation pour la Memorial de la Shoah to conduct research on the SNCF in France. During her time as a doctoral student, George Mason University’s Carter School for Peace and Conflict Resolution awarded Federman the Presidential Scholarship in support of this research.

    – ref. Railways were essential to carrying out the Holocaust – decades later, corporate reckoning continues – https://theconversation.com/railways-were-essential-to-carrying-out-the-holocaust-decades-later-corporate-reckoning-continues-250008

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Export bars placed on two paintings by 18th century artist Agostino Brunias

    Source: United Kingdom – Government Statements

    Press release

    Export bars placed on two paintings by 18th century artist Agostino Brunias

    Temporary export bars have been placed on two paintings by 18th century Italian artist Agostino Brunias

    • Export bars have been placed on the paintings to allow time for a UK gallery or institution to acquire them

    Export bars have been placed on two paintings of the island of St Vincent by 18th century artist Agostino Brunias. 

    Both paintings depict the island through the lens of the British Empire, with one showing the signing of a treaty and the other a representation of Indigenous life. 

    The Minister’s decision follows the advice of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest.

    The Committee found that ‘Sir William Young Conducting a Treaty with the Black Caribs on the Island of St Vincent’ met the first and third Waverley criteria for its connection with our history and national life. In addition, the Committee found that ‘A family of Charaibes in the Island of St Vincent’ met the third Waverley criterion for its significance to the study of the history of slavery and colonialism. 

    The decision on the export licence applications for both paintings will be deferred for a period ending on 15 July 2025 inclusive. At the end of the first deferral period owners will have a consideration period of 15 Business Days to consider any offer(s) to purchase one or both the paintings.

    Sir William Young Conducting a Treaty with the Black Caribs on the Island of St Vincent is set at the recommended price of £240,000 (plus VAT of £8,000). The second deferral period will commence following the signing of an Option Agreement and will last for three months.

    A family of Charaibes in the Island of St Vincent is set at the recommended price of £180,000 (plus VAT of £6,000). The second deferral period will commence following the signing of an Option Agreement and will last for three months.

    Notes to editors

    1. Organisations or individuals interested in purchasing one or both the paintings should contact the RCEWA on 02072680534 or rcewa@artscouncil.org.uk.
    2. The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest is an independent body, serviced by Arts Council England (ACE), which advises the Secretary of State for  Culture, Media and Sport on whether a cultural object, intended for export, is of national importance under specified criteria.

    Details: A family of Charaibes in the Island of St Vincent 

    1. Details of the ITEM are as follows: A family of Charaibes in the Island of St Vincent, c.1773, oil on canvas, by Agostino Brunias (c.1730 – 2 April 1796), 56 x 61 cm.; 22 x 24 in.
    2. Provenance: Commissioned by Sir William Young, 1st Bt (1725–1788), Governor of Dominica; By descent to his son, Sir William Young, F.R.S. (1749–1815), Governor of Tobago; Anonymous sale, Paris, Hotel Drouot, 9 March 1951, lot 74 (as one of a pair); Private collection, France; Anonymous sale, Christie’s, London, 25 September 2003, lot 424; Where acquired by the mother of the present owners.

    Details: Sir William Young Conducting a Treaty with the Black Caribs on the Island of St Vincent

    1. Details of the ITEM are as follows: Sir William Young Conducting a Treaty with the Black Caribs on the Island of St Vincent, 1773, oil on canvas, by Agostino Brunias (c.1730 – 2 April 1796), 56 x 61 cm.; 22 x 24 in.
    2. Provenance: Commissioned by Sir William Young, 1st Bt (1725–1788), Governor of Dominica; By descent to his son, Sir William Young, F.R.S. (1749–1815), Governor of Tobago; Anonymous sale, Paris, Hotel Drouot, 9 March 1951, lot 74 (as one of a pair); Private collection, France; Anonymous sale, London, Christie’s, 25 September 2003, lot 425 (where titled ‘Pacification of the Maroon Negros in the Island of Jamaica’); Where acquired by the mother of the present owners.

    Updates to this page

    Published 16 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Global AI Diagnostics Market to Reach $8.54 Billion By 2033 as Industry Sees Increasing R&D and Strategic Collaborations

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., April 16, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Artificial intelligence (AI) is being utilized for disease detection in the global markets. In today’s AI-driven world, the use of deep learning algorithms and AI tools in diagnostics can improve the accuracy, speed and efficiency for diagnosing patients with minimal errors. The introduction of AI tools in diagnostics has revolutionized the healthcare industry with supporting the doctors in advanced disease diagnosis and providing personalized treatments to patients with better judgements and quick results. According to Precedence Research, the global artificial intelligence in diagnostics market size was exhibited at USD 1.61 billion in 2024 and is projected to hit around USD 8.54 billion by 2033, growing at a CAGR of 20.37% during the forecast period 2024 to 2033. The report said: “The advances in digital biomarkers technology which uses real-time monitoring systems for early disease diagnosis and prediction has also enhanced the AI in diagnostics market growth. The application of AI tools in diagnostics has led to analyzing medical images for assessing disease progression, predicting patient outcomes, processing and storing of patient data which includes electronic health records (EHRs), identifying patterns and anomalies in patient data and symptom checkers for providing potential diagnosis.”   Active healthcare/tech companies active in the markets include: Avant Technologies Inc. (OTCQB: AVAI), Illumina Inc. (NASDAQ: ILMN), Tempus AI, Inc. (NASDAQ: TEM), Medtronic plc (NYSE: MDT), Spectral AI, Inc. (NASDAQ: MDAI).

    The report continued: “Moreover, the rising prevalence of chronic and non-communicable diseases (NCDs) is fueling the market growth of AI in diagnostics as the demand for advanced and digital healthcare solutions is increasing worldwide. The rapid developments in cutting-edge AI tools in diagnostics and the surging investments in R&D of industries in enhancing diagnostic proficiency for improved patient outcomes is driving the market. North America dominated the AI in diagnostics market in 2024. With the presence of key market players and cutting-edge advancements in technologies integrated with AI-powered tools has expanded the market growth in this region. The rise in investments in R&D, support from government initiatives and increased fundings from private and public organizations for producing AI-enhanced diagnostic tools is strengthening the industries in the region.”

    Avant Technologies, Inc. (OTCQB: AVAI) and JV Partner, Ainnova, Accelerate Expansion Across Latin America Following Key Role at Healthcare Innovation Summit – Avant Technologies, Inc. (“Avant” or the “Company”) and its partner, Ainnova Tech, Inc., (Ainnova), a leading healthcare technology company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced that following Ainnova’s sponsorship and its CEO’s key role at the 2025 Healthcare Innovation Summit in Mexico City, both Avant and Ainnova, through their joint venture, Ai-nova Acquisition Corp. (AAC), are building on Ainnova’s strong presence in Mexico by expanding its footprint across Latin America.

    Ainnova has initiated its first commercial pilots in both Chile and the Dominican Republic to work directly with prestigious hospitals that cover the full spectrum of care—from primary to highly specialized services. These pilot programs aim to demonstrate, (i) cost reduction in preventive diagnostics; (ii) increased efficiency in medical resource allocation and patient flow; (iii) enhanced institutional reputation driven by technological innovation; and (iv) improved profitability for participating healthcare centers through optimized patient referrals.

    The pilot programs leverage Ainnova’s proprietary Vision AI platform to identify health risks in real time, which enable seamless referrals for specialty care or further diagnostic tests when a positive risk is detected. The broader vision for the joint venture involves deploying an automated, low-cost retinal imaging device integrated with its AI-driven platform to deliver comprehensive preventive risk screening. From just two retinal images, blood pressure and some lab test information, the system will assess risks for: cardiovascular disease (CVD), type 2 diabetes, liver fibrosis, and chronic kidney disease (CKD).

    The message that Ainnova’s CEO, Vinicio Vargas, continues to convey to audiences around the world is that this accessible, fast, and scalable solution is designed to support early intervention and targeted treatment strategies, with the ambition of reaching millions of patients globally in the coming years.

    Avant has partnered with Ainnova to form AAC so the two companies can advance and commercialize Ainnova’s technology portfolio worldwide. AAC has the global licensing rights for the portfolio, including its Vision AI platform and its versatile retinal cameras.

    Avant and Ainnova have identified Brazil and the United States as key strategic markets. Ainnova is currently addressing regulatory pathways in Brazil with the support of its MDSAP certification to meet ANVISA requirements, paving the way for rapid market entry. CONTINUED… Read this and more news for Avant Technologies at:   https://www.financialnewsmedia.com/news-avai/

    In other developments and happenings in the markets recently include:

    Medtronic plc (NYSE: MDT), a global leader in healthcare technology, recently announced late-breaking data on five-year outcomes from the Evolut Low Risk Trial. Data shows, versus surgery, the Evolut™ transcatheter aortic valve replacement (TAVR) system delivers a numerically lower rate of all-cause mortality or disabling stroke at five years, strong valve performance and durable clinical outcomes. The findings were presented as late-breaking clinical science at the American College of Cardiology’s Annual Scientific Session & Expo and simultaneously published in the JACC, the flagship journal of the American College of Cardiology.

    The Evolut Low Risk Trial was a randomized, multicenter, international study assessing the safety and efficacy of the Evolut TAVR system versus surgery in low-risk patients. These patients had a predicted 30-day mortality risk <3%, as assessed by a local heart team. 1,414 patients were randomized, with 730 receiving TAVR with either a Medtronic Evolut R, PRO, or CoreValve™ and 684 undergoing surgery.

    Spectral AI, Inc. (NASDAQ: MDAI), a leading developer of the AI-driven DeepView® System, which uses multi-spectral imaging and AI algorithms to predict burn healing potential, recently announced the successful completion of a debt financing agreement of up to $15.0 million in funding from Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group, with an initial draw down of $8.5 million. In connection with this debt financing, the Company also raised $2.7 million of equity financing from institutional as well as existing investors. With total cash on hand now of over $14 million and potential access to additional debt of $6.5 million, Spectral AI is able to accelerate its product commercialization efforts, including the upcoming U.S. launch of its DeepView System.

    The term of the financing agreement is for three years, with an interest-only payment period of no less than 15 months, which can be extended to 24 months upon achieving the milestones laid out in the second financing tranche. The second financing tranche, which is contingent upon FDA clearance of the DeepView System, includes an additional $6.5 million in debt financing and a $7.0 million equity raise to be completed by the Company. The financing also includes warrant coverage equal to 8.5% of the total funding commitment from Avenue Capital Group, with an exercise price of $1.80 per share.   As part of the financing, the Company has agreed to a market standstill with no additional stock sales by the Company for a period of at least six months. SP Angel Corporate Finance LLP acted as the sole placement agent for the participation of existing UK investors. Dominari Securities LLC acted as the sole placement agent for U.S. investors.

    Illumina Inc. (NASDAQ: ILMN) and Tempus AI, Inc. (NASDAQ: TEM) recently announced a collaboration to accelerate clinical adoption of next-generation sequencing tests through novel evidence generation. The collaboration will combine leading Illumina AI technologies with Tempus’s comprehensive multimodal data platform to train genomic algorithms and ultimately accelerate clinical adoption of molecular testing for patients.

    “In the era of true precision medicine, every patient who is battling complex disease should be routed to the optimal therapy based on molecular insights,” said Everett Cunningham, chief commercial officer of Illumina. “We envision a world where the full range of molecular profiling is available as part of the standard of care—not just in cancer, but in cardiology, neurology, immunology, and every other category of disease.”

    Today, patients frequently miss the benefit of precision medicine because molecular profiling is not yet standard across disease areas and regions. This collaboration will leverage Tempus multimodal data to further improve Illumina’s AI-driven molecular analysis technologies and generate new insights supporting the clinical value of sequencing. These insights will be used to build evidence packages needed to standardize use of comprehensive genomic profiling and other molecular testing across all major diseases.

    “By expanding our collaboration with Illumina, we are combining our strengths in technology and data analytics with their strengths in developing new sequencing technologies to drive forward innovation and advance precision medicine,” said Terron Bruner, chief commercial officer of Tempus.

    The program builds on a long-standing collaboration between the companies, which has focused on developing tools and assays to address gaps in testing needs from preemptive screening through therapy selection, health economics, and bioinformatics pipelines to improve patient outcomes and research.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Fortinet Releases its 2024 Sustainability Report

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., April 16, 2025 (GLOBE NEWSWIRE) — News Summary

    Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today released its 2024 Sustainability Report, outlining the company’s approach, key commitments, and progress on the sustainability topics that matter most to the company and its stakeholders.

    “As digital transformation accelerates, cybersecurity is more critical than ever to safeguarding businesses, the global economy and society at large,” said Michael Xie, Founder, President and CTO at Fortinet. “Fortinet is committed to having our products, services, and people contribute to building a more secure and sustainable society–from improving the environmental impact of our products through energy efficiency and more sustainable packaging, to our commitment to closing the cybersecurity skills gap by training 1 million individuals by 2026. We are proud of the progress we’ve made and remain committed to integrating sustainability across all aspects of our operations.”

    As cybersecurity continues to play a leading role in enabling a sustainable digital future, Fortinet remains committed to protecting people, businesses, and communities worldwide while operating responsibly and minimizing its environmental footprint.

    Highlights from the Fortinet 2024 Sustainability Report include:

    • Driving innovation and responsible technology to secure the digital world: With nearly 1,400 patents issued and more than 450 pending, Fortinet continues to pioneer AI-powered security solutions, collaborating with organizations such as University of California (UC) Berkeley, the World Economic Forum, and the Cybersecurity and Infrastructure Security Agency (CISA) to advance AI use in cybersecurity. In 2024, Fortinet also became one of the early signatory of CISA’s Secure by Design pledge, reinforcing its commitment to security at every stage of the product lifecycle.
    • Strengthening global efforts to combat cybercrime: In 2024, Fortinet deepened its engagement with numerous global organizations dedicated to halting cybercrime, supporting major initiatives such as INTERPOL’s Operation Serengeti and the World Economic Forum Cybercrime Atlas Project. These collaborative efforts in 2024 contributed to over 1,000 arrests, the dismantling of 134,000+ malicious networks, and the recovering of $44 million USD.
    • Accelerating climate action with near-term, science-based targets: In 2024, Fortinet’s near-term greenhouse gas emissions reduction targets were validated by the Science Based Targets initiative. These climate near-term targets include scopes 1 and 2 emissions, aligned with a 1.5°C trajectory to limit global warming, as well as scope 3 targets focused on supplier and customer engagement to drive emission reductions across the value chain.
    • Improving product energy efficiency and sustainable packaging: In 2024, Fortinet introduced new FortiGate models that are, on average, 61% more energy efficient than previous generations. Additionally, the company expanded its efforts to minimize environmental impact by launching 22 FSC-certified packaging models, prioritizing plastic-free packaging across 86 top-selling products, and avoiding 387 metric tons of CO2e emissions, including 77 metric tons of plastic reduction.
    • Addressing the cybersecurity skills gap and expanding access to education: Since 2022, Fortinet has trained more than 630,000 individuals in cybersecurity through the Fortinet Training Institute initiatives. In 2024, Fortinet joined the European Commission’s Cybersecurity Skills Academy, committing to train 75,000 people in the EU by 2027. Fortinet also contributed to the World Economic Forum’s 2024 Strategic Cybersecurity Talent Framework, helping to shape global best practices for sustainable cybersecurity talent development.
    • Upholding strong business ethics and information security practices: In 2024, 100% of Fortinet’s top contract manufacturers (covering 90% of spend) and distributors completed business ethics and compliance training. Fortinet expanded its ISO 27001/17/18 certifications and its SOC2 Type II examinations, achieving 81 information security certifications and examinations strengthening data protection and privacy measures.

    Industry Recognition for Responsible Business Practices
    Fortinet’s continued progress in sustainability and responsible business practices has been recognized through multiple industry accolades, including:

    • Inclusion in the 2024 Dow Jones Best-in-Class World and North America Indices for the third consecutive year, reflecting its leadership in corporate responsibility.
    • An improved CDP Climate Change rating, moving from a B- to a B score, reflecting strengthened climate action and transparency.
    • Recognition as a 2024 “Best Company to Work For” by Glassdoor and a “Great Place to Work,” underscoring Fortinet’s commitment to fostering a workplace where everyone can thrive.
    • Recognized as No. 7 on Forbes’ Most Trusted Companies in America 2025 list—and the most trusted U.S.-based cybersecurity company.

    Fortinet’s 2024 Sustainability Report references the Task Force on Climate-related Financial Disclosures (TCFD), the Global Reporting Initiative (GRI) Standards, Sustainability Accountability Standards Board (SASB) Standards and the United Nations Sustainable Development Goals (UN SDGs). The report details Fortinet’s progress and metrics across the following eight priority issues: innovation and responsible technology; cybercrime disruption; climate change; product environmental impacts; inclusion and belonging; cybersecurity skills gap; business ethics; and information security and data privacy.

    Additional Resources

    About Fortinet
    Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

    Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

    Media Contact: Investor Contact: Analyst Contact:
    Stephanie Lira
    Fortinet, Inc.
    408-235-7700
    pr@fortinet.com     		 Aaron Ovadia
    Fortinet, Inc.
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    investors@fortinet.com    		 Brian Greenberg
    Fortinet, Inc.
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    analystrelations@fortinet.com

    The MIL Network –

  • MIL-OSI: FFB Bancorp Announces First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    FRESNO, Calif., April 16, 2025 (GLOBE NEWSWIRE) — FFB Bancorp (the “Company”) (OTCQX: FFBB), the parent company of FFB Bank (the “Bank”), today reported net income of $8.10 million, or $2.55 per diluted share, for the first quarter of 2025, an increase of 4% from the $7.79 million, or $2.46 per diluted share, reported for the first quarter of 2024. The Bank reported $9.72 million, or $3.05 per diluted share, for the fourth quarter of 2024. All results are unaudited.

    First Quarter 2025 Highlights: As of, or for the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024:

    • Pre-tax, pre-provision income increased 10% to $12.01 million.
    • Net income increased 4% to $8.10 million.
    • Return on average equity (“ROAE”) was 18.83%.
    • Return on average assets (“ROAA”) was 2.14%.
    • Net interest margin expanded 20 basis points to 5.35% from 5.15%.
    • Operating revenue (net interest income, before the provision for credit losses, plus non-interest income) increased 21% to $28.48 million.
    • Total assets increased 12% to $1.56 billion.
    • Total portfolio of loans increased 18% to $1.09 billion.
    • Total deposits increased 10% to $1.32 billion.
    • Shareholder equity increased 26% to $174.71 million.
    • Book value per common share increased 27% to $55.52.
    • The Company’s tangible common equity ratio was 11.20%, while the Bank’s regulatory leverage capital ratio was 14.66%, and the total risk-based capital ratio was 21.09% at March 31, 2025.

    “In spite of the general market headwinds, and the constant noise surrounding potential policy changes, our first quarter 2025 results still came in quite strong because the team was able to stay focused on the basics,” said Steve Miller, President & CEO. “The loan portfolio increased $21 million, deposits grew $36 million, and total assets grew $56 million. In addition, we were able to record strong earnings while improving our book value per common share through our strategic share repurchase program.”

    “During the quarter we have made consistent progress on the matters outlined in our consent order, although ultimate compliance will be determined by our regulators. The team has been diligent in working with our regulators to complete the necessary steps to meet consent order timelines. We have confidence we can continue to address these items going forward.”

    Linda Emtman and Miles Mahoney Join Board of Directors of FFB Bancorp and FFB Bank:

    Linda Emtman and Miles Mahoney have been appointed to the Board of Directors for the Company and Bank, expanding the number of directors for both boards to 11 from 9.

    Ms. Emtman was a Principal in Financial Services at Ernst & Young in San Francisco until her retirement. She is on the executive leadership team of the American Heart Association, and an Ambassador at the Bay Area Cor Vitae Society. Ms. Emtman is a graduate of the University of Washington where she earned her bachelor’s degree in Business Administration and completed her Master Deal Maker certification at the Wharton School.

    Mr. Mahoney is the President of U2 Science Labs, Inc, an advanced analytics and data science platform, in Orange County and the Founder and Managing Partner of Irish Acquisitions, Inc. He has served as a board member of a number of different organizations over a 15-year period. Mr. Mahoney is a graduate of Montana State University where he earned his bachelor’s degree in Business Administration & Finance and completed his MBA at the Pepperdine Graziadio School of Business.

    “We are delighted to welcome Linda and Miles to our Company’s Board of Directors and look forward to working with them as we pursue our mission to grow our franchise. They bring a wealth of experience and a broad depth of knowledge that will help propel us forward for future success,” said Mark Saleh, Chairman of the Boards. “Recently, one of our founding board members, Al Smith, passed away. He was instrumental in the early development of our brand. His commitment to the bank and creative ideas will be missed.”

    Update on Stock Repurchase Program:

    On January 22, 2025, the Company announced that it had authorized a plan to utilize up to $15.0 million of capital to repurchase shares of the Company’s common stock. As of March 31, 2025, the Company has repurchased 41,915 shares, at an average price of $81.60, totaling $3.42 million. This represents approximately 1.78% of total shareholders’ equity at March 31, 2025.

    Under the terms of the repurchase plan, the Company may repurchase shares of the Company’s common stock from time to time, through December 31, 2025, in open market purchases or privately negotiated transactions. Repurchases under the plan may also be made pursuant to a trading plan under Securities and Exchange Commission Rule 10b5-1 under the Securities Exchange Act of 1934, which would permit shares to be repurchased by the Company when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, manner, price and exact amount of any repurchases by the Company will be determined at the Company’s discretion and depend on various factors including the performance of the Company’s stock price, general market and economic conditions, applicable legal and regulatory requirements, availability of funds, and other relevant factors. Through December 31, 2025, the repurchase plan may be discontinued, suspended or restarted at any time.

    Results of Operations

    Quarter ended March 31, 2025:

    Operating revenue, consisting of net interest income before the provision for credit losses and non-interest income, increased 21% to $28.48 million for the first quarter of 2025, compared to $23.61 million for the first quarter a year ago, and increased 1% from $28.25 million from the fourth quarter of 2024.

    Net interest income, before the provision for credit losses, increased 17% to $18.90 million for the first quarter of 2025, compared to $16.14 million for the same quarter a year ago, and remained consistent with the $18.81 million reported last quarter. “The increase in net interest income compared to prior year was primarily driven by loan portfolio growth,” said Bhavneet Gill, Chief Financial Officer. “We have also seen some relief in funding costs as a result of the FOMC rate cuts from the second half of 2024.”

    The Company’s net interest margin (“NIM”) increased by 20 basis points to 5.35% for the first quarter of 2025, compared to 5.15% for the first quarter of 2024, and increased 11 basis points from 5.24% for the preceding quarter. “Our yield on earning assets increased 8 basis points in the first quarter primarily from changes within the loan portfolio. Additionally, the expansion of NIM was buoyed by a 4 basis point decrease in the cost to fund earning assets as average non-interest bearing deposits increased $11.68 million quarter-over-quarter,” noted Gill.

    The yield on earning assets was 6.31% for the first quarter of 2025, compared to 6.15% for the first quarter a year ago, and 6.24% for the previous quarter. The cost to fund earning assets decreased to 0.96% for the first quarter of 2025 compared to 1.00% for the previous quarter, and 1.00% for the same quarter a year earlier.

    Total non-interest income was $9.58 million for the first quarter of 2025, compared to $7.47 million for the first quarter of 2024, and $9.44 million for the previous quarter. The increase in non-interest income, from the first quarter of 2024, was driven by higher merchant services revenue and a reduction in loss on sale of investments, partially offset by lower gain on sale of loans revenue. The quarter-over-quarter increase in non-interest income was attributed to higher merchant services revenue due to seasonal activity, partially offset by a reduction in the gain on sale of loans revenue.

    Merchant services revenue increased 30% to $7.86 million for the first quarter of 2025, compared to $6.07 million from the first quarter of 2024. The increase was primarily due to higher volume across all merchant business lines and higher gross revenue related to FFB Payments. Merchant services revenue increased from $7.56 million when compared to the fourth quarter of 2024 as a result of an increase in processing volume during the quarter, primarily due to seasonal activity. First quarter 2025 ISO Partner Sponsorship volumes include $2.78 billion in volume for the ISO partners being exited in the second quarter of 2025. First quarter 2025 ISO Partner Sponsorship revenue includes $990,000 in revenue from the ISO partners being exited in the second quarter of 2025. “These ISO exits were the right decision to help ensure we are aligned with our partners in regard to best in class oversight. We anticipate replacing this volume and revenue through growth in FFB Payments and with our remaining ISO partners as we move forward,” said Miller.

    Merchant ISO Processing Volumes (in thousands)
    Source Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
    ISO Partner Sponsorship $ 5,007,998   $ 4,891,643   $ 4,556,868   $ 4,391,365   $ 3,763,289  
    FFB Payments- Sub-ISO Merchants   21,551     22,950     24,661     24,414     19,370  
    FFB Payments – Direct Merchants   97,095     91,133     64,512     76,059     77,349  
    Total volume $ 5,126,644   $ 5,005,726   $ 4,646,041   $ 4,491,838   $ 3,860,008  
    Merchant ISO Processing Revenues (in thousands)
    Source of Revenue Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
    Net Revenue*:          
    ISO Partner Sponsorship $ 2,410   $ 2,535   $ 2,284   $ 2,156   $ 2,183  
               
    Gross Revenue:          
    FFB Payments- Sub-ISO Merchants   745     764     810     795     672  
    FFB Payments – Direct Merchants   4,709     4,262     2,476     3,117     3,213  
        5,454     5,026     3,286     3,912     3,885  
    Gross Expense:          
    FFB Payments- Sub-ISO Merchants   616     638     723     675     518  
    FFB Payments – Direct Merchants   2,558     2,511     1,766     1,989     1,842  
        3,174     3,149     2,489     2,664     2,360  
    Net Revenue:          
    FFB Payments- Sub-ISO Merchants   129     126     87     120     154  
    FFB Payments – Direct Merchants   2,151     1,751     710     1,128     1,371  
    FFB Payments Net Revenue   2,280     1,877     797     1,248     1,525  
    Net Merchant Services Income: $ 4,690   $ 4,412   $ 3,081   $ 3,404   $ 3,708  
     
    *ISO Partnership Sponsorship is recognized net of expense in Merchant Services Income. FFB Payments revenues are recognized gross in Merchant Services Income and Merchant Services expenses are recognized in Non-Interest Expense.
     

    Total deposit fee income increased 7% to $849,000 for the first quarter of 2025, compared to $796,000 for the first quarter of 2024, and decreased 1% from $856,000 for the previous quarter.

    There was a $261,000 gain on sale of loans during the first quarter of 2025, compared to a gain on sale of loans of $451,000 during the first quarter 2024, and a gain on sale of loans of $929,000 in the previous quarter. There was no loss on sale of investments during the first quarter of 2025, compared to a $373,000 loss during the first quarter of 2024, and a $482,000 loss in the previous quarter.

    Non-interest expense increased 30% to $16.47 million for the first quarter of 2025, compared to $12.70 million for the first quarter 2024, and increased 24% from $13.27 million from the previous quarter. The increases on a year-over-year and quarterly comparison were driven by increases in salaries and employee benefits expense.

    Salaries and employee benefits increased 22% to $8.06 million for the first quarter of 2025, compared to $6.58 million for the first quarter 2024. Total salaries and employee benefits increased 56% from $5.18 million in the previous quarter. The quarterly increase in salaries and employee benefits expense is partially attributed to $1.96 million in non-recurring reductions to performance bonus and ESOP accruals recognized in the fourth quarter of 2024. The balance of the increase was primarily the result of expense associated with full-time employees hired in the fourth quarter of 2024 and the first quarter of 2025. Full-time employees increased to 175 at March 31, 2025, compared to 147 full-time employees a year earlier, and 168 full-time employees from the previous quarter.

    “Over the last few quarters, we’ve made intentional investments in people and technology to ensure that the bank can efficiently scale moving forward, and specifically to support our payment ecosystem, product development, regional expansion, and compliance/risk management initiatives. We continue to see elevated legal, audit, and technology related expenses mostly related to addressing the Consent Order,” said Miller.

    Occupancy and equipment expenses decreased 8% from a year ago, representing 2% of non-interest expense, and decreased 14% from the preceding quarter. Merchant operating expense totaled $3.17 million for the first quarter of 2025, compared to $2.36 million for the first quarter of 2024 and $3.15 million for the preceding quarter. The change in merchant operating expense is attributed to fluctuations in volume and revenue for the FFB Payments lines of business. Merchant operating expenses include interchange fees, chargebacks, partnership fees, and other card brand fees.

    Other operating expense increased 45% or $1.51 million to $4.88 million from a year earlier and increased 8% or $351,000 from the previous quarter. The year-over-year increase was driven by increases of $252,000 in data and software related expense, $355,000 in professional fees, $262,000 in marketing expense, $111,000 in regulatory assessment expense, and $321,000 in operational losses. The increase in data and software expense and professional fees, which include legal, audit, and consulting fees, are primarily due to actions taken to enhance the Company’s AML/CFT, compliance, and merchant services programs.

    The efficiency ratio was 57.83% for the first quarter of 2025, compared to 52.96% for the same quarter a year ago, and 46.19% for the preceding quarter. The efficiency ratio can fluctuate period over period based on changes in merchant services’ gross revenues and associated expenses. The Company also calculates an adjusted efficiency ratio where the merchant services’ gross expense, which is included in non-interest expense, is netted against merchant services’ revenue in non-interest income. The adjusted efficiency ratio was 52.54% for the first quarter of 2025, compared to 47.82% for the same quarter a year ago, and 39.57% for the previous quarter.

    Balance Sheet Review

    Total assets increased 12% to $1.56 billion at March 31, 2025, compared to $1.40 billion at March 31, 2024, and increased 4% compared to December 31, 2024.

    The total portfolio of loans increased 18%, or $165.66 million, to $1.09 billion, compared to $926.78 million at March 31, 2024, and increased $21.36 million, from $1.07 billion at December 31, 2024.

    Commercial real estate loans increased 28% year-over-year to $696.63 million, representing 64% of total loans at March 31, 2025. The CRE portfolio includes approximately $282.54 million in multi-family loans originated by the Southern California team that the Company may consider selling at some point in the future for liquidity and concentration management. The multi-family portfolio includes $84.52 million in short-term bridge loans for transitional projects of multi-family properties. The short-term bridge loans are conservatively underwritten with minimum DSCR and liquidity requirements. The bank continues to market our bridge loan product in a more measured approach, keeping to our conservative underwriting standards. The real estate construction and land development loan portfolio decreased 84% from a year ago to $12.65 million, representing 1% of total loans, while residential RE 1-4 family loans totaled $17.15 million, or 2% of loans, at March 31, 2025.

    The commercial and industrial (C&I) portfolio increased 16% to $260.06 million, at March 31, 2025, compared to $224.55 million a year earlier, and decreased 3% from $267.95 million at December 31, 2024. C&I loans represented 24% of total loans at March 31, 2025. Agriculture loans represented 10% of the loan portfolio at March 31, 2025. At March 31, 2025, the SBA, USDA, and other government agencies guaranteed loans totaled $61.37 million, or 5.6% of the loan portfolio.

    Investment securities totaled $313.83 million at March 31, 2025, compared to $328.91 million a year earlier, and decreased $8.36 million from $322.19 million at December 31, 2024. The investment portfolio consists of mortgage-backed and municipal securities, both tax exempt and taxable, treasury securities as well as other domestic debt. At March 31, 2025, the Company had a net unrealized loss position on its investment securities portfolio of $24.50 million, compared to a net unrealized loss of $25.89 million at December 31, 2024. The Company’s investment securities portfolio had an effective duration of 5.61 years at March 31, 2025, compared to 5.32 years at December 31, 2024.

    Total deposits increased 10%, or $119.85 million, to $1.32 billion at March 31, 2025, compared to $1.20 billion from a year earlier, and increased $36.00 million from $1.28 billion at December 31, 2024. The quarter-over-quarter increase in deposit balances is primarily attributed to an increase in interest bearing checking accounts. Non-interest bearing demand deposits increased 10% to $825.40 million at March 31, 2025, compared to $751.64 million at March 31, 2024, and decreased $3.10 million from $828.51 million at December 31, 2024. Non-interest bearing demand deposits represented 63% of total deposits at March 31, 2025.

    Included in non-interest bearing deposits are $89.98 million from ISO partners for merchant reserves, $135.48 million from ISO partners for settlement, and $9.63 million in ISO partner operating accounts. These deposits represent 28.5% of non-interest bearing deposits and 17.8% of total deposits. Included in the $235.09 million in ISO partner deposits as of March 31, 2025 are $137.82 million in deposits for ISO partners being exited in the second quarter of 2025. The Bank plans to replace these non-interest bearing deposits with growth from new Bank customers in its markets and from the existing ISO partners it will continue to support. In the short-term, the new deposit growth will likely be made up of a higher percentage of interest bearing deposits.

    There was $10.00 million in short-term borrowings at March 31, 2025, compared to no borrowings at December 31, 2024, or March 31, 2024. The Company primarily utilizes FHLB advances and the Federal Reserve discount window for short-term borrowings. The following table summarizes the Company’s primary and secondary sources of liquidity which were available at March 31, 2025:

    Liquidity Source (in thousands) March 31, 2025 December 31, 2024
         
    Cash and cash equivalents $ 103,071   $ 63,415  
    Unpledged investment securities, fair value   104,732     118,957  
    FHLB advance capacity   338,036     304,077  
                 
    Federal Reserve discount window capacity   130,590     166,475  
    Correspondent bank unsecured lines of credit   70,000     91,500  
      $ 746,429   $ 744,424  
     

    The total primary and secondary liquidity of $746.43 million at March 31, 2025 represents an increase of $2.0 million in primary and secondary liquidity quarter-over-quarter. On-balance sheet cash and cash equivalents increased as a result of deposit growth in the quarter.

    Shareholders’ equity increased 26% to $174.71 million at March 31, 2025, compared to $138.72 million from a year ago, and grew 4% from $168.39 million at December 31, 2024. Book value per common share increased 27% to $55.52, at March 31, 2025, compared to $43.69 at March 31, 2024, and increased 5% from $53.02 at December 31, 2024. The tangible common equity ratio was 11.20% at March 31, 2025, compared to 9.94% a year earlier, and 11.20% at December 31, 2024. Additionally, book value improved as a result of quarterly net income and a reduction in shares outstanding.

    At the Bank level, unrealized losses and gains reflected in AOCI are not included in regulatory capital. As a result, Tier-1 capital at the Bank for regulatory purposes was $226.64 million at quarter end excluding the unrealized loss. The regulatory leverage capital ratio was 14.66% for the current quarter, while the total risk-based capital ratio was 21.09%, exceeding regulatory minimums to be considered well-capitalized.

    Asset Quality

    Nonperforming assets increased to $15.37 million, or 0.98% of total assets, at March 31, 2025, compared to $9.89 million, or 0.66% of total assets, from the preceding quarter. Of the $15.37 million nonperforming loans, $11.37 million are covered by SBA guarantees. Total delinquent loans increased to $19.12 million at March 31, 2025, compared to $8.32 million at December 31, 2024.

    Past due loans 30-60 days were $17.53 million at March 31, 2025, compared to $4.89 million at December 31, 2024, and $3.22 million at March 31, 2024. This increase in 30-60 days past due loans is the result of three multi-family loans, which are real estate secured, totaling $11.55 million to a related group of borrowers. There were $1.54 million past due loans from 60-90 days at March 31, 2025, compared to $2.45 million at December 31, 2024 and $1.95 million in past due loans from 60-90 days a year earlier. Past due loans 90+ days at quarter end totaled $46,000 at March 31, 2025, compared to $1.33 million, at March 31, 2024. Of the $19.12 million in past due loans at March 31, 2025, $2.75 million were purchased government guaranteed loans, which are guaranteed by the SBA for the full payment of the principal plus interest.

    Delinquent Loan Summary Organic Purchased Govt.
    Guaranteed    		 Total
    (in thousands)
           
    Delinquent accruing loans 30-59 days $ 16,147   $ 1,386   $ 17,533  
    Delinquent accruing loans 60-89 days   218     1,319     1,537  
    Delinquent accruing loans 90+ days   —     46     46  
    Total delinquent accruing loans $ 16,365   $ 2,751   $ 19,116  
           
    Non-Accrual Loan Summary Organic Purchased Govt.
    Guaranteed    		 Total
    (in thousands)
           
    Loans on non-accrual $ 15,366   $ —   $ 15,366  
    Non-accrual loans with SBA guarantees   11,371     —     11,371  
    Net Bank exposure to non-accrual loans $ 3,995   $ —   $ 3,995  
     

    There was a $1.16 million provision for credit losses in the first quarter of 2025, compared to $378,000 provision for credit losses in the first quarter a year ago, and a $1.67 million provision for credit losses booked in the fourth quarter of 2024. The provision recorded during the first quarter of 2025 is the result of loan portfolio growth and a $5.47 million increase in non-accrual loans which were individually evaluated in the allowance for credit losses. The increase in non-accrual loans was primarily related to SBA loans.

    “We watch the SBA portfolio very closely since rates have increased so rapidly over the last two years, putting pressure on borrowers. A majority of the loans within the portfolio are floating rate loans tied to WSJ Prime and reset quarterly. Borrowers saw a 50bps reduction in their rates on January 1, 2025 and additional rate relief is expected during the second half of 2025,” added Miller. “The ratio of allowance for credit losses to the total, non-guaranteed, loan portfolio was 1.25%, as of March 31, 2025, and our total non-guaranteed exposure on these SBA loans is $42.80 million spread over 222 loans.”

    “We incurred net charge offs of $167,000 during the current quarter, compared to $4,000 in net recoveries in the first quarter a year ago, and $1.29 million in net charge offs in the previous quarter,” said Miller. “Our loan portfolio increased 18% from a year ago with commercial real estate (“CRE”) loans representing 64% of the total loan portfolio. Within the CRE portfolio, there are $52.45 million in loans for CRE office as shown in the table below. Since the majority of our CRE office exposure is concentrated in the Central Valley, we are experiencing less volatility than city center CRE markets. Our credit metrics remain strong as we continue to maintain conservative underwriting standards.”

    (in thousands) CRE Office Exposure of March 31, 2025
    Region Owner-Occupied Non-Owner Occupied Total
    Central Valley $ 27,314   $ 13,544   $ 40,858  
    Southern California   2,271     352     2,623  
    Other California   4,492     3,948     8,440  
    Total California   34,077     17,844     51,921  
    Out of California   —     527     527  
    Total CRE Office $ 34,077   $ 18,371   $ 52,448  
     

    The ratio of allowance for credit losses to total loans was 1.18% at March 31, 2025, compared to 1.12% a year earlier and 1.10% at December 31, 2024. The Company individually evaluates non-accrual loans in the allowance for credit losses which has resulted in carrying a higher level of reserve.

    About FFB Bancorp

    FFB Bancorp, formerly Communities First Financial Corporation, a bank holding company established in 2014, is the parent company of FFB Bank, founded in 2005 in Fresno, California. As a leading SBA Lender in California’s Central Valley and one of the few direct acquiring banks in the United States, FFB Bank offers clients a range of personal and business checking accounts, payment processes, and loan programs. Among the Bank’s awards and accomplishments, it was ranked #1 on American Banker’s list of the Top 20 Publicly Traded Banks under $2 Billion in Assets for 2024. For 2025, the Bank was also ranked by S&P Global as the #34 best performing community bank under $3 billion in assets. The Company has also received recognition as part of the OTCQX Best 50 Companies for 2019, 2023, and 2024. For additional information, you can visit the Company’s website at www.ffb.bank or by contacting a representative at 559-439-0200.

    Forward Looking Statements

    This earnings release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on managements’ expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company’s ability to effectively execute its business plans; the impact of the Consent Order on our financial condition and results of operations; changes in general economic and financial market conditions; changes in interest rates; and, in particular, actions taken by the Federal Reserve to try and control inflation; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Company’s business; international developments; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company undertakes no obligation to release publicly the results of any revisions to the forward-looking statements included herein to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    Member FDIC

    Select Financial Information and Ratios For the Quarter Ended:
    March 31, 2025   December 31, 2024   March 31, 2024
    BALANCE SHEET- ENDING BALANCES:          
    Total assets $ 1,560,376     $ 1,504,128     $ 1,395,095  
    Total portfolio loans   1,092,441       1,071,079       926,781  
    Investment securities   313,826       322,186       328,906  
    Total deposits   1,320,381       1,284,377       1,200,529  
    Shareholders equity, net   174,711       168,392       138,716  
               
    INCOME STATEMENT DATA          
    Operating revenue   28,476       28,247       23,610  
    Operating expense   16,467       13,270       12,701  
    Pre-tax, pre-provision income   12,009       14,977       10,909  
    Net income after tax   8,098       9,718       7,790  
               
    SHARE DATA          
    Basic earnings per share $ 2.56     $ 3.06     $ 2.46  
    Fully diluted EPS $ 2.55     $ 3.05     $ 2.46  
    Book value per common share $ 55.52     $ 53.02     $ 43.69  
    Common shares outstanding   3,146,727       3,175,817       3,175,048  
    Fully diluted shares   3,175,178       3,189,949       3,170,981  
    FFBB – Stock price $ 76.50     $ 97.97     $ 82.99  
               
    RATIOS          
    Return on average assets   2.14 %     2.53 %     2.32 %
    Return on average equity   18.83 %     23.11 %     23.27 %
    Efficiency ratio   57.83 %     46.19 %     52.96 %
    Adjusted efficiency ratio   52.54 %     39.57 %     47.82 %
    Yield on earning assets   6.31 %     6.24 %     6.15 %
    Yield on investment securities   4.36 %     4.34 %     4.47 %
    Yield on portfolio loans   6.81 %     6.95 %     6.68 %
    Cost to fund earning assets   0.96 %     1.00 %     1.00 %
    Cost of interest-bearing deposits   2.60 %     2.69 %     2.57 %
    Net Interest Margin   5.35 %     5.24 %     5.15 %
    Equity to assets   11.20 %     11.20 %     9.94 %
    Net loan to deposit ratio   82.74 %     83.39 %     77.20 %
    Full time equivalent employees   175       168       147  
               
    BALANCE SHEET- AVERAGES          
    Total assets   1,531,573       1,529,439       1,347,625  
    Total portfolio loans   1,076,848       1,038,215       925,561  
    Investment securities   325,699       333,135       315,820  
    Total deposits   1,300,550       1,299,069       1,149,117  
    Shareholders equity, net   174,410       167,268       134,621  
                           
    Consolidated Balance Sheet (unaudited) March 31, 2025   December 31, 2024   March 31, 2024
    (in thousands)    
    ASSETS          
    Cash and due from banks $ 83,033     $ 43,905     $ 37,360  
    Interest bearing deposits in banks   20,038       19,510       53,556  
    CDs in other banks   1,724       1,723       1,693  
    Investment securities   313,826       322,186       328,906  
    Loans held for sale   —       —       —  
               
    Construction & land development   12,649       26,522       77,318  
    Residential RE 1-4 family   17,146       16,846       16,114  
    Commercial real estate   696,625       669,285       545,358  
    Agriculture   104,616       90,017       63,281  
    Commercial and industrial   260,063       267,948       224,551  
    Consumer and other   1,342       461       159  
    Portfolio loans   1,092,441       1,071,079       926,781  
    Deferred fees & discounts   (3,946 )     (4,200 )     (4,181 )
    Allowance for credit losses   (12,913 )     (11,834 )     (10,407 )
    Loans, net   1,075,582       1,055,045       912,193  
               
    Non-marketable equity investments   8,890       8,891       7,357  
    Cash value of life insurance   12,496       12,402       12,119  
    Accrued interest and other assets   44,787       40,466       41,911  
    Total assets $ 1,560,376     $ 1,504,128     $ 1,395,095  
               
    LIABILITIES AND EQUITY          
    Non-interest bearing deposits $ 825,404     $ 828,508     $ 751,636  
    Interest checking   109,555       62,034       54,659  
    Savings   54,686       55,219       52,090  
    Money market   218,940       212,322       220,559  
    Certificates of deposits   111,796       126,294       121,585  
    Total deposits   1,320,381       1,284,377       1,200,529  
    Short-term borrowings   10,000       —       —  
    Long-term debt   38,046       38,007       39,638  
    Other liabilities   17,238       13,352       16,212  
    Total liabilities   1,385,665       1,335,736       1,256,379  
               
    Common stock   35,693       38,436       36,910  
    Retained earnings   156,235       148,138       121,780  
    Accumulated other comprehensive loss   (17,217 )     (18,182 )     (19,974 )
    Shareholders’ equity   174,711       168,392       138,716  
    Total liabilities and shareholders’ equity $ 1,560,376     $ 1,504,128     $ 1,395,095  
    Consolidated Income Statement (unaudited) Quarter ended:
    (in thousands) March 31, 2025   December 31, 2024   March 31, 2024
               
    INTEREST INCOME:          
    Loan interest income $ 18,069   $ 18,131     $ 15,372  
    Investment income   3,499     3,631       3,512  
    Int. on fed funds & CDs in other banks   574     504       255  
    Dividends from non-marketable equity   132     137       129  
    Total interest income   22,274     22,403       19,268  
               
    INTEREST EXPENSE:          
    Int. on deposits   2,891     3,115       2,518  
    Int. on short-term borrowings   31     12       149  
    Int. on long-term debt   451     464       464  
    Total interest expense   3,373     3,591       3,131  
    Net interest income   18,901     18,812       16,137  
    PROVISION FOR CREDIT LOSSES   1,164     1,671       378  
    Net interest income after provision   17,737     17,141       15,759  
               
    NON-INTEREST INCOME:          
    Total deposit fee income   849     856       796  
    Debit / credit card interchange income   191     196       167  
    Merchant services income   7,864     7,562       6,068  
    Gain on sale of loans   261     929       451  
    Loss (gain) on sale of investments   —     (482 )     (373 )
    Other operating income   410     374       364  
    Total non-interest income   9,575     9,435       7,473  
               
    NON-INTEREST EXPENSE:          
    Salaries & employee benefits   8,056     5,177       6,582  
    Occupancy expense   353     411       383  
    Merchant services operating expense   3,174     3,149       2,360  
    Other operating expense   4,884     4,533       3,376  
    Total non-interest expense   16,467     13,270       12,701  
               
    Income before provision for income tax   10,845     13,306       10,531  
    PROVISION FOR INCOME TAXES   2,747     3,588       2,741  
    Net income $ 8,098   $ 9,718     $ 7,790  
    ASSET QUALITY March 31, 2025   December 31, 2024   March 31, 2024
    (in thousands)    
    Delinquent accruing loans 30-60 days $ 17,533     $ 4,886     $ 3,220  
    Delinquent accruing loans 60-90 days   1,537       2,449       1,950  
    Delinquent accruing loans 90+ days   46       987       1,332  
    Total delinquent accruing loans $ 19,116     $ 8,322     $ 6,502  
               
    Loans on non-accrual $ 15,366     $ 9,894     $ 7,156  
    Other real estate owned   —       —       —  
    Nonperforming assets $ 15,366     $ 9,894     $ 7,156  
               
    Delinquent 30-60 / Total Loans   1.60 %     0.46 %     0.35 %
    Delinquent 60-90 / Total Loans   0.14 %     0.23 %     0.21 %
    Delinquent 90+ / Total Loans   — %     0.09 %     0.14 %
    Delinquent Loans / Total Loans   1.75 %     0.78 %     0.70 %
    Non-accrual / Total Loans   1.41 %     0.92 %     0.77 %
    Nonperforming assets to total assets   0.98 %     0.66 %     0.51 %
               
    Year-to-date charge-off activity          
    Charge-offs $ 167     $ 1,287     $ —  
    Recoveries   —       35       4  
    Net charge-offs (recoveries) $ 167     $ 1,252     $ (4 )
    Annualized net loan losses to average loans   0.06 %     0.12 %     — %
               
    CREDIT LOSS RESERVE RATIOS:          
    Allowance for credit losses $ 12,913     $ 11,834     $ 10,407  
               
    Total loans $ 1,092,441     $ 1,071,079     $ 926,781  
    Purchased govt. guaranteed loans $ 16,081     $ 16,323     $ 19,642  
    Originated govt. guaranteed loans $ 45,285     $ 42,737     $ 38,228  
               
    ACL / Total loans   1.18 %     1.10 %     1.12 %
    ACL / Loans less 100% govt. gte. loans (purchased)   1.20 %     1.12 %     1.15 %
    ACL / Loans less all govt. guaranteed loans   1.25 %     1.17 %     1.20 %
    ACL / Total assets   0.83 %     0.79 %     0.75 %
    SELECT FINANCIAL TREND INFORMATION For the Quarter Ended:
    March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Mar. 31, 2024
    BALANCE SHEET- PERIOD END          
    Total assets $ 1,560,376   $ 1,504,128   $ 1,512,241   $ 1,443,723   $ 1,395,095  
    Loans held for sale   —     —     —     —     —  
    Loans held for investment   1,092,441     1,071,079     998,222     969,764     926,781  
    Investment securities   313,826     322,186     345,428     345,491     328,906  
               
    Non-interest bearing deposits   825,404     828,508     826,708     731,030     751,636  
    Interest bearing deposits   494,977     455,869     460,241     437,927     448,893  
    Total deposits   1,320,381     1,284,377     1,286,949     1,168,957     1,200,529  
    Short-term borrowings   10,000     —     —     68,000     —  
    Long-term debt   38,046     38,007     37,967     39,678     39,638  
               
    Total equity   191,928     186,574     176,350     167,286     158,690  
    Accumulated other comprehensive loss   (17,217 )   (18,182 )   (12,715 )   (18,646 )   (19,974 )
    Shareholders’ equity   174,711     168,392     163,635     148,640     138,716  
               
    QUARTERLY INCOME STATEMENT          
    Interest income $ 22,274   $ 22,403   $ 21,404   $ 20,887   $ 19,268  
    Interest expense   3,373     3,591     3,617     3,581     3,131  
    Net interest income   18,901     18,812     17,787     17,306     16,137  
    Non-interest income   9,575     9,435     7,616     7,423     7,473  
    Gross revenue   28,476     28,247     25,403     24,729     23,610  
               
    Provision for credit losses   1,164     1,671     762     291     378  
               
    Non-interest expense   16,467     13,270     12,735     13,285     12,701  
    Net income before tax   10,845     13,306     11,906     11,153     10,531  
    Tax provision   2,747     3,588     3,343     3,077     2,741  
    Net income after tax   8,098     9,718     8,563     8,076     7,790  
               
    BALANCE SHEET- AVERAGE BALANCE          
    Total assets $ 1,531,573   $ 1,529,439   $ 1,477,259   $ 1,704,255   $ 1,347,604  
    Loans held for sale   —     —     —     —     —  
    Loans held for investment   1,076,848     1,038,215     982,152     954,871     925,561  
    Investment securities   325,699     333,135     343,096     334,416     315,820  
               
    Non-interest bearing deposits   850,426     838,748     822,200     758,977     755,603  
    Interest bearing deposits   450,124     460,321     432,143     440,147     393,514  
    Total deposits   1,300,550     1,299,069     1,254,343     1,199,124     1,149,117  
    Short-term borrowings   2,856     951     —     10,053     9,562  
    Long-term debt   38,028     37,989     39,479     39,660     39,620  
               
    Shareholders’ equity   174,410     167,268     161,363     141,881     134,621  
                                   

    Contact: Steve Miller – President & CEO
    Bhavneet Gill – EVP & CFO
    (559) 439-0200

    The MIL Network –

  • MIL-OSI: Chestnut Market Launches First Shell-Branded Store With Mashgin AI Checkout

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., April 16, 2025 (GLOBE NEWSWIRE) — Chestnut Market today announced it has deployed Mashgin’s AI-powered checkout system at its 203 Greenwood Ave, Bethel, CT location. This marks the first Shell-branded store to roll out Mashgin’s technology, which seamlessly integrates with Shell’s payment network through the Invenco EDGEPro device.

    This technological advancement represents a significant step forward in modernizing the convenience store experience. Chestnut Market recently won a Store Design Award for their Hutchinson Parkway location that features 6 Mashgin kiosks.

    “After witnessing the tremendous success of Mashgin’s technology at our Hutchinson Parkway location, where we completely eliminated checkout lines, we’re excited to bring this same level of convenience to this location’s customers,” said Faheem Jamal, Director of Retail at Chestnut Market. “Retail is detail, and keeping lines short is a big one. This continued expansion demonstrates our commitment to enhancing the customer experience through innovative, practical technology.”

    This pilot program showcases how Shell delivers top tier service to consumers and wholesalers with industry leading technology. A key capability of the Invenco EDGEPro device is enabling options for third party POS systems to be integrated at retail stations. Mashgin’s AI system and Shell’s payment network are a pivotal example of delivering technological capabilities.

    “We’re excited to add Mashgin, one of the quickest and most intuitive AI POS options for Shell Branded locations,” said Elaine Mohr, GM of Operations at Shell Mobility Americas. “This seamless integration demonstrates the value brought to stores with EDGEPro technology as it rolls out across the country.”

    This implementation represents a significant milestone in the convenience store industry, combining Shell’s trusted fuel operations with cutting-edge AI technology to create a faster and customer-friendly shopping experience. Chestnut Market plans to deploy Mashgin’s AI-powered checkout system into additional stores this year.

    “The team at Chestnut is truly exceptional when it comes to building stores that people want to visit,” said Jack Hogan, SVP of Partnerships at Mashgin. “This collaboration with Shell helps us to deliver that next level of customer experience at Chestnut Market, and we look forward to the same for more branded Wholesalers going forward.” 

    About Chestnut Market:

    Chestnut Market is a family-owned convenience store chain operating 75 locations in New York, New Jersey and Connecticut. Their values, friendliness, cleanliness and safety, attest to their commitment of making an impact to the communities that they serve across the Hudson Valley and beyond. Each store is curated to meet the demands of customers. They form strategic partnerships ranging from local collaborations to high-tech solutions and offer a wide selection of snacks, beverages and fresh food options.

    For more information about Chestnut Market, go to https://chestnutmarket.com/.

    About Mashgin:

    Mashgin is the world’s fastest checkout system, powered by AI and computer vision. By eliminating barcode scanning, Mashgin allows customers to simply place items on the tray, pay, and be on their way in under 10 seconds. With checkout speeds up to four times faster than traditional systems, Mashgin not only enhances customer satisfaction but also boosts revenue for retailers by reducing wait times and streamlining operations. Founded in 2014 and headquartered in Palo Alto, California, Mashgin is a privately held company backed by NEA, Matrix Partners, Susa Ventures, and Y Combinator.

    Follow Mashgin on LinkedIn or learn more about Mashgin at www.mashgin.com.

    Press Contact:
    Quinn Trask
    104 West on behalf of Mashgin
    Quinn.trask@104west.com

    The MIL Network –