Category: Scandinavia

  • MIL-OSI United Nations: Ms. Bjørg Sandkjær of Norway – Assistant Secretary-General for Policy Coordination in the United Nations Department of Economic and Social Affairs (UN DESA)

    Source: United Nations MIL-OSI 2

    nited Nations Secretary-General António Guterres announced today the appointment of Bjørg Sandkjær of Norway as Assistant Secretary-General for Policy Coordination in the United Nations Department of Economic and Social Affairs (UN DESA).  She will succeed Maria-Francesca Spatolisano of Italy, to whom the Secretary-General and the Under-Secretary-General for Economic and Social Affairs are grateful for her commitment and dedicated service to the Organization.

    Ms. Sandkjær has over 26 years of experience in policymaking and international development.  She served as Deputy Minister for International Development at the Norwegian Ministry of Foreign Affairs since 2021, having been responsible for the development of Norway’s strategic vision and engagement in international development cooperation issues and played a key role in the negotiations on Norway’s budgetary allocations for official development assistance while also leading her country’s engagement in key sustainable development processes and fora, including the High-level Political Forum on Sustainable Development.

    Ms. Sandkjær also served as the deputy leader of the Standing Committee on Health and Welfare of the Oslo City Council and held several positions at the Norwegian Agency for Development Cooperation (Norad), Gavi, the Vaccine Alliance, the United Nations Economic Commission for Africa (UNECA), and the Church of Norway.

    Ms. Sandkjær holds a master’s degree in Demography from the London School of Economics and Political Science (LSE), United Kingdom and an undergraduate degree from the University of Oslo, Norway.  She is fluent in English and Norwegian.

    MIL OSI United Nations News

  • MIL-OSI Economics: SPE DSATS/IADC ART Symposium to Convene on 3 March

    Source: International Association of Drilling Contractors – IADC

    Headline: SPE DSATS/IADC ART Symposium to Convene on 3 March

    About the Symposium

    Each year DSATS and ART together hold a half-day symposium addressing a theme relating to the automation of drilling rigs and well construction. This symposium precedes the 2025 SPE/IADC International Drilling Conference & Exhibition with stand-alone registration. Seating is limited to 100.

    DSATS is the Drilling Systems Automation Technical Section of the Society of Petroleum Engineers (SPE). Their purpose is to accelerate the development and implementation of systems automation in the well drilling industry by supporting initiatives that communicate the technology, recommend best practices, standardize nomenclature and help define the value of drilling systems automation. ​

    ART is the Advanced Rig Technology Committee of the International Association of Drilling Contractors. Their mission is to improve safety and efficiency through sound operating procedures, design of automated systems and standardizing automation.​

    Drilling systems automation (DSA) is a unique technology that has been successfully applied in multiple well construction operations. The primary drivers for DSA are efficiency improvement, process safety, environmental protection, and further optimization opportunities.

    In the past years, new disruptive technologies such as AI and ML have entered the market (and our lives). They demonstrate significant benefits and promise transformative changes, especially for automation, yet they may also introduce new risks along with new opportunities.

    Within the context of DSA, how can we leverage these and other technologies? How, if at all, does their emergence change our perspective and approach? Can we afford to ignore them, or should we plan to embrace them to reap the benefits? How and where should we integrate them, considering the known concerns for safety and reliability?

    In Norway there has been significant adoption of automation and AI and ML in fields outside of well construction, which provide different views on the application and benefits of these technologies to industrial challenges. In “Automation, data and robotics in other industries” we invite experts from these external fields to describe their successes and challenges, and the benefits realized, in applying advanced automation technologies.

    Committee

    This event is brought to you by a special committee led by Serafima Schaefer, DSATS Program Chair Europe and Eric Cayeux, DSATS Deputy Program Chair Europe:

    • John de Wardt, DSATS Director Emeritus
    • John Macpherson, DSATS Director Emeritus
    • Michael Affleck, BP Digital and Automation
    • Karma Slusarchuk, DSATS Board Member
    • Sarah Kern, ART Co-Chair
    • Blaine Dow, ART Co-Chair

    For more information or questions regarding the 2025 SPE DSATS/IADC ART Symposium, feel free to contact committee member John de Wardt via LinkedIn.

    MIL OSI Economics

  • MIL-OSI Global: Violent crime in South Africa happens mostly in a few hotspots: police resources should focus there – criminologist

    Source: The Conversation – Africa – By Guy Lamb, Criminologist / Senior Lecturer, Stellenbosch University

    Crime researchers use murder (or homicide) rate per 100,000 as a crude measure of the general level of violent interpersonal crime globally. According to the United Nations Office for Drugs and Crime, South Africa’s murder rate of 45 per 100,000 (2023/24) is the second highest for countries that publish crime data.

    The South African Police Service crime data shows that levels of attempted murder, armed robbery and robberies at homes have soared over the past 10 years. Other categories of violent crime, such as assault and sexual violence, also remain high.

    High crime rates have had considerable negative effects on the country’s economy. The destructive impact of violent crime is estimated to cost the equivalent of 15 % of GDP.

    In 2019, President Cyril Ramaphosa indicated that government would seek to reduce violent crime by 50% within a decade. The police budget increased by 24% from 2018/19 to 2024/25. But the murder rate increased by 25%, from 36 per 100,000 in 2018/19 to 45 per 100,000 in 2023/24.

    I have spent 25 years researching violent crime and policing in South Africa. I also wrote a 2022 book, Policing and Boundaries in a Violent Society, and conducted various studies for the Institute for Security Studies.

    In my view, the logical approach for government is to attend to the top 100 high crime areas. I’ll show why below. It must use the resources of the departments in its justice, crime prevention and security cluster to intervene in targeted, evidence-based ways, to combat and prevent crime.

    Where crime is happening and what police are doing

    Violent crime in South Africa has consistently been highly concentrated in a small number of urban areas. For example, 20% of all reported murders occur in just 30 policing areas (2.6% of the 1,149 policing areas). About 50% of all violent crime occurs in 100 policing areas (9% of the precincts).

    Place-based crime reduction interventions have yielded positive results in high crime cities in a variety of countries, such as the US, Argentina and Trinidad and Tobago.

    But in South Africa, the approach to fighting crime has focused instead on arrests and on force. This is why increasing the funding hasn’t had results.

    The police arrested around 1.5 million criminal suspects a year between 2019/20 and 2023/24. (The exception was 2020/1, with 2.8 million arrests due to COVID-19 lockdown violations.)

    A negative outcome of this police action has been rising civil claims against police, amounting to R67.4 billion (US$3.6 billion) as of March 2024 (47,818 claims).

    The police have also used militarised approaches, such as Operation Shanela. Officers have been encouraged to be more forceful against alleged criminals.

    There is very little evidence to suggest that militarised policing reduces violent crime. It can actually contribute to declining public trust in the police. Only 27% of the population consider police trustworthy (from 47% in 1999).

    Despite the police budget increasing in recent years, their effectiveness has been undermined by declining personnel numbers. In 2018, there were 150,639 police personnel. This has dropped to 140,048 in recent years. There has also been a substantial reduction in the police reserve force.

    A further challenge is the high rate of recidivism (re-offending). An estimated 90% of offenders commit crime again after leaving prison.

    Six actions for 100 worst areas

    I argue that six things need to happen in the 100 worst crime areas:

    • reduce the number of firearms in circulation

    • improve the number of court-ready police dockets

    • improve place-based crime intelligence

    • reduce alcohol harms

    • provide rehabilitation and support services for offenders

    • boost community safety organisations.

    Firearms control

    Firearms are the leading weapon used in murders and in several categories of robberies. They are also commonly used in sexual violence, and feature in gangsterism and organised crime.

    Confiscating illegal firearms and ammunition, and securing convictions for those found in possession of illegal firearms, will have a positive impact in the target areas.

    This requires a close working relationship between police and the National Prosecuting Authority to collect appropriate evidence and prepare court dockets adequately.

    Rulings by magistrates that declare certain people unfit to possess licensed firearms must be monitored regularly.

    Court-ready police dockets

    The National Prosecuting Authority has undergone reforms over the past six years to improve the efficiency and effectiveness of the criminal justice system. As a result, it has secured high conviction rates for several categories of violent crimes. However, many police dockets lack sufficient reliable evidence for the prosecutors to present so as to secure convictions in court.

    As the table below shows, the vast majority of recorded violent crime cases do not result in a court conviction.

    Police officials in high crime areas are typically overwhelmed by the large number of criminal cases they need to investigate. That means only a small number of dockets that have a likelihood of securing a conviction are prepared.

    More resources are needed to increase cooperation between the police and prosecutors.

    Place-based crime intelligence

    Better crime intelligence could result in better control of illegal firearms and higher quality police dockets.

    Police crime intelligence and other departments in the justice and security cluster must cooperate and share information.

    Alcohol harms

    Several forms of violent crime are linked to excessive alcohol consumption. Unregulated alcohol outlets present the most risky context for committing violence. There is an opportunity for police, prosecutors (especially through the Community Prosecutions Initiative) and municipalities to collaborate to reduce alcohol related crime and harms in the top 100 high crime areas.

    This requires more effective monitoring and policing of alcohol outlets to ensure better compliance with liquor laws.

    Rehabilitation and support services for offenders

    It is likely that recidivism rates would be reduced if former prisoners and their families had better rehabilitation services in the top 100 high crime areas. Studies suggest that the most effective and practical programmes are those that focus on substance abuse, restorative justice, mental health, education and income generation.

    Such services could give former inmates a means to generate an income legally.

    Community safety organisations

    Studies have shown that crime can be reduced when police and other government entities work closely with community organisations to devise solutions.

    Community police forums and neighbourhood watches are examples of these kinds of arrangements.

    They can collect intelligence and help the authorities design and implement evidence-based crime prevention actions that focus on the areas where crime is concentrated, and on the situations that tend to drive crime.

    Guy Lamb receives funding from the Research Council of Norway and the British Academy.

    ref. Violent crime in South Africa happens mostly in a few hotspots: police resources should focus there – criminologist – https://theconversation.com/violent-crime-in-south-africa-happens-mostly-in-a-few-hotspots-police-resources-should-focus-there-criminologist-248233

    MIL OSI – Global Reports

  • MIL-OSI Global: Trump’s second tone: authoritarian, radical and triumphalist in a divided US

    Source: The Conversation – France – By Jérôme Viala-Gaudefroy, Spécialiste de la politique américaine, Auteurs historiques The Conversation France

    US President Donald Trump’s inaugural address on January 20 revealed the key themes of his rhetoric–triumphalism and overt authoritarianism–and provided insight into the programme he wants to implement. However, accomplishing his goals will not be easy amid deep divisions within the country that narrowly elected him.

    The triumphant hero: martyr and messiah

    In his 2017 inaugural address, Trump delivered a populist message decrying “the establishment” for the “carnage” afflicting “forgotten Americans”. Eight years later, in the longest inaugural speech in four decades, he painted a starkly different picture–one of a victorious and ambitious country with himself as both its savior and an embodiment of its triumph.

    Trump used the words “I,” “me” and “my” 50 times in his 2025 address, compared to just four in 2017, deliberately merging his personal identity with that of the nation.


    J. Viala-Gaudefroy, Fourni par l’auteur

    He cast himself as both a hero-martyr –“tested and challenged more than any president in our 250-year history”– and the sole leader capable of solving the country’s problems. He linked his personal journey to divine intervention, declaring that God had saved him on July 13, the day he survived an assassination attempt in Pennsylvania, “I was saved by God to make America great again.”

    A radical crackdown on immigration

    Trump’s stance on immigration is significantly more extreme than his 2017 agenda. While his first term focused on reinforcing borders, he now frames illegal immigration as an “invasion” requiring military intervention. On inauguration day, the president signed several executive orders, including one seeking to eliminate birthright citizenship despite its protection under the 14th Amendment. His hardline approach energizes supporters within his conservative base, some of whom subscribe to the “great replacement” theory and view his policies as necessary to preserve American identity.

    Culture wars: race, gender and education

    In his second inaugural address, Trump expanded his rhetoric to encompass culture war issues, aggressively targeting diversity, equity, and inclusion (DEI) policies in US workplaces. He accused the state of “socially engineering race and gender into every aspect of public and private life”, and then began dismantling programmes promoting equality, including recruitment efforts aimed at hiring racial and sexual minorities within the federal government.

    His executive orders rescind measures dating back to the Civil Rights era, including one from president Lyndon B. Johnson mandating equal opportunity policies for federal contractors. Echoing president Ronald Reagan, Trump framed these actions in anti-racist language –“We will forge a society that is colorblind and merit-based”– disregarding the well-documented realities of systemic racism.

    Trump also asserted that “there are only two genders, male and female”, and has signed an order recognizing only biological sex at birth. Framing this move as a defense of women, he argues that their “safe spaces”, including bathrooms and sports competitions, must be protected from individuals who “identify” as female.

    In education, he decried critical perspectives on US history as “unpatriotic”, insisting that schools instill national pride instead of “teaching our children to hate our country”. His plan includes reducing or eliminating federal funding for schools that teach “inappropriate racial, sexual, or political content” or mandate vaccines and mask-wearing–despite education policy largely falling under state jurisdiction.

    Reviving founding myths

    Trump’s historical narrative is steeped in romanticized patriotism. He revived the myth of “the frontier”, a late 19th century ideal portraying westward expansion as the ultimate symbol of American dynamism. This narrative ignores histories of the genocide of indigenous peoples and environmental destruction.

    His vision of “inexhaustible” natural resources –particularly shale oil and gas, described as “liquid gold”– reflects this ideology of relentless economic expansion and 19th century “bonanza economics”. By rejecting US conservationist traditions, Trump is prioritizing industrial growth over environmental sustainability.

    Expansionism reimagined: from the frontier to space

    Trump draws inspiration from president William McKinley (1897–1901), an advocate of expansionism during the Spanish-American War, which brought territories such as the Philippines and Puerto Rico under US control. Reviving the concept of “manifest destiny”, he merged exceptionalism with expansionism, vowing to “plant the American flag on Mars.”

    Trump restated his intention to rename the Gulf of Mexico the “Gulf of America”–a gesture with little practical impact given that much of the gulf lies outside US territory. While he has expressed interest in purchasing Greenland (which he has also claimed to be willing to take over) and even annexing Canada, he mentioned neither in his inaugural speech. However, he did promise to take control of the Panama Canal, justifying the move with a series of lies and exaggerations regarding its history and operation.

    A new golden age or “Gilded Age”?

    Trump’s admiration for McKinley extends to his economic policies. He envisions a protectionist strategy driving national reindustrialization. Yet, McKinley’s era–the “Gilded Age”–was marked by extreme inequality, a lack of income and corporate taxes, minimal regulation and rampant corruption. The wealthiest figures of the time, later dubbed “robber barons”, mirror the oligarchic ambitions of Trump’s current supporters.

    Ironically, as economist Douglas A. Irwin notes, the economic prosperity of the late 19th century was not driven by tariffs but by mass immigration. Between 1870 and 1913, the US population doubled due to an influx of unskilled laborers, a reality at odds with Trump’s strict immigration agenda.

    A nation divided under an assertive authoritarianism

    Trump’s vision, as outlined in his speech, is one of maximal presidential power, where justice is subordinated to political goals. His decision to pardon over 1,500 individuals convicted for their involvement in the January 6, 2021 Capitol riot underscores this authoritarian approach, reinforcing the idea that traditional laws do not apply to his most loyal and even violent supporters.

    He has also launched a sweeping purge of the federal administration, citing “integrity, competence, and loyalty” as guiding values. Additionally, he has openly planned to use the Justice Department and FBI for political purposes.

    Unlike previous presidents, Trump made no effort to unite a deeply divided nation during his address. He ignored the tradition of acknowledging his predecessor, Joe Biden, and instead declared his electoral victory proof that “the entire nation is rallying behind our agenda.”

    However, the US remains fractured politically. Trump secured less than 50% of the popular vote in the November election, his party holds the narrowest House majority since the 1930s, and he entered office with one of the lowest initial approval ratings in 70 years–just 47%. His personal favorability was even lower, hovering around 41% (Reuters, NPR).

    This polarization is evident in the public reaction to his most controversial policies, such as his pardoning of the January 6 rioters just after his inaugural address. While his base celebrates these decisions, the broader American public largely disapproves. The fundamental question remains: can US institutions withstand the growing tensions? Without majority support, realising Trump’s most radical societal and political agenda may prove an uphill battle.

    Jérôme Viala-Gaudefroy ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    ref. Trump’s second tone: authoritarian, radical and triumphalist in a divided US – https://theconversation.com/trumps-second-tone-authoritarian-radical-and-triumphalist-in-a-divided-us-248502

    MIL OSI – Global Reports

  • MIL-OSI Security: Principal Deputy Associate Attorney General Bill Baer Delivers Remarks Highlighting Elder Justice at the State Of Financial Fraud in America Event

    Source: United States Attorneys General 13

    Remarks as prepared for delivery

    Thank you Robert for that kind introduction and for your leadership and dedication as CEO of Financial Industry Regulatory Authority (FINRA).  And thank you to the Stanford Center on Longevity and the FINRA Investor Education Foundation, for hosting this conference and for the great work that you do.  It is an honor to join with the many people in this audience who dedicate their lives to combatting financial fraud and protecting elderly Americans.  This is a noble and enduring effort.   

    As many people here know, financial fraud targeted at the elderly is a serious problem.  At the beginning of 2011, the first Baby Boomers reached the age of 65.  I reached that milestone myself just last year.  Indeed, 10,000 Americans turn 65 every day, and the percentage of Americas over 65 is growing.  5.8 percent of this group experiences identity theft in a given year.  I had that ugly experience just last month. 13.8 percent experiences consumer fraud in a given year.  4.5 percent of people over 50 experience financial fraud in a five-year period.  While there are varying accounts about how much the overall financial loss is, it is well into the billions of dollars.  

    Statistics aside, we are here together because we know all too well that this is a problem that takes a personal toll.  Almost all of us know someone who has been the victim of financial fraud.  And while it affects people of all ages, it can be especially devastating for elderly people, many of whom are dependent on their savings and are concerned about their own mental decline or other people’s perception of their mental decline.  

    I recently saw letters written by the victims of a set of schemes that we took action against.  One described having sent “hundreds of checks” for a company’s “great offers” and tried to explain to the fraudster that “due to bad eyes, [he] has to use magnifying glasses to read” and had “been caught paying many times for th[e] very same offer.”  Another, believing that the con men would send him a promised gift, tried to explain that he had sent his prior payments by money order and was now enclosing cash, “all [he] can send.”  Another explained that when she gets the vast inheritance she’d been promised, she would use it to help her family, the homeless and needy children.   

    The nature and scope of elder fraud varies tremendously.  At the Department of Justice, we see small, family based schemes, such as caregivers tricking elderly victims out of their savings or abusing powers of attorney.  We see institutional schemes, such as nursing homes that provide unnecessary services or bill for services never provided.  And we see global fraud networks that are—quite literally—organized crime.  These schemes involve networks of businesses with careful divisions of labor.  They target millions of Americans, maintain lists of victims, and, once someone has been duped, target those people again and again. One recent victim wrote a letter explaining: “Each day I keep getting more and more offers and it’s almost impossible for me to keep up with them.” 

    Large and diverse problems like this require broad based solutions.  We at the Department of Justice know we can’t solve this problem alone.  Coordination is essential not only with our federal partners, but with local, state and international authorities.  And public and private partnerships are key to our understanding of the scope of the problem and to the lasting success of any solution.

    Research into basic questions, such as why are elderly people vulnerable, and how can we detect fraud and abuse, is critical to attacking the problem.  The FINRA Foundation and Stanford Center on Longevity launched the Financial Fraud Research Center five years ago.  As some of your ongoing research has demonstrated, there is a natural decline in cognition as people age, especially ability to think fast and process new information.  The elderly are sometimes lonely or otherwise socially isolated. Some are uncomfortable with technology.  Many have pools of relatively liquid retirement assets.  Some are dependent on caregivers.  All of these factors make the elderly particularly susceptible to certain schemes. 

    There is much more to learn.  The Department of Justice has invested in partnerships to help us all better understand the causes and risk factors associated with elder financial exploitation.  For example, just a few weeks ago, we announced an award of nearly $800,000 to the Urban Institute and the University of Southern California to develop and test prevention programs that will address elder abuse, neglect and financial exploitation.  To enhance our understanding of financial exploitation by conservators and guardians, last year our Office for Victims of Crime funded a project to search for innovative, evidence-based programs and practices that successfully detect and remedy conservator fraud.  And people like you are furthering our understanding.  This conference is highlighting emerging research on susceptibility to fraud and fraud prevention.

    Beyond efforts to understand how and why elder fraud occurs, continuing dedication to enforcement is required to stop it.   This is not a partisan issue.  We have seen Democratic and Republican administrations alike express a shared commitment to using all tools in the Department of Justice’s enforcement arsenal.  Back in the 1990s, under Attorney General Reno, the Department of Justice created the Elder Justice Initiative to centralize information, facilitate training, and coordinate within the Department and across the federal government.  During the Bush Administration, the Department of Justice initiated an elder mistreatment research grant program, funding cutting edge research on elder abuse and financial exploitation that continues today.

    During this Administration, Congress created the Elder Justice Coordinating Council as part of the Affordable Care Act to facilitate interagency cooperation at the highest of levels.  At the Department of Justice, we formed the Attorney General’s Advisory Committee’s Elder Justice Working Group, which is comprised of U.S. Attorneys from across the country who are dedicated to improving our information sharing on financial scams targeting the elderly.  And just this year, we created ten regional Elder Justice Task Forces that operate throughout the country, partnering with state and local law enforcement and prosecutors to enhance our collective response to elder financial fraud and abuse. 

    Our Elder Justice Initiative has also been assisting with community capacity building.  This includes supporting the training of local law enforcement and prosecutors.  And to enhance civil legal aid to seniors, in June 2016, the Department of Justice, in collaboration with the Corporation for National and Community Service, launched the Elder Justice AmeriCorps, the first-ever army of lawyers and paralegals to help elderly victims of abuse and exploitation.  The program will support 300 AmeriCorps members throughout the country and is expected to reach over 8,000 older adults over the next two years.

    A multi-faceted problem requires coordination between different federal agencies; it demands a whole of government approach.  Mail is involved; we must coordinate with the Postal Inspection Service.  Money is involved; we must coordinate with the Treasury Department.  People target the elderly; we must coordinate with agencies that serve the elderly, such as the Social Security Administration.  

    And more and more, we are seeing schemes that are highly complex and global.  Stopping these schemes require extensive cooperation—not just with state and local authorities, but also across the federal government and with our international counterparts.  For example, the Department of Justice’s Consumer Protection Branch co-chairs the International Mass-Marketing Fraud Working Group, a network of civil and criminal law enforcement agencies from Australia, Belgium, Canada, Europol, the Netherlands, Nigeria, Norway, Spain, the United Kingdom and the United States.  

    We can point to meaningful progress.  In the past several years, we have successfully shut down several international lottery scams where con men and women have contacted elderly victims in the United States, told the victims they won cash and prizes, and persuaded them to send thousands of dollars in fees to release the money.  Of course, the victims never received cash or prizes in return.  In a series of cases, perpetrators made calls from Jamaica using Voice Over Internet Protocol technology that made it appear as if the calls were coming from the United States.  They convinced victims to send money to middlemen in South Florida and North Carolina, who forwarded the money to Jamaica.  We have had great success breaking up these networks through joint efforts between Jamaican law enforcement and U.S. agencies including the Postal Inspection Service, Department of Homeland Security, U.S. Marshals Service, Federal Trade Commission and Internal Revenue Service.  Since 2009, the Department of Justice has prosecuted or is prosecuting over 100 individuals linked to such lottery schemes, and has convicted and sentenced over 40 defendants.

    We have had similar success going after global “psychic schemes.”  Con men and women send letters purportedly written by “world-renowned psychics” stating that they had a vision revealing that the recipient has the opportunity to obtain great wealth.  The letters appear personalized, refer to the recipient by name, and often contain portions that appear handwritten.  The solicitations urge victims to purchase products and services that will ensure this good fortune.  Investigations by the Department of Justice and Postal Inspection Service, among others, revealed the complexity of these schemes.  Not only were there the fraudsters themselves, but there were separate companies performing different roles, such as processing victim payments and maintaining databases of consumers who responded to solicitations.  In a two-week period, one company in the United States processed as much as $500,000 in payments for just one psychic scheme.  We have discovered similar companies in Quebec, Hong Kong, Switzerland and France.  

    Perhaps the most significant example of cooperation to date were our wide-ranging enforcement actions taken in September of this year to dismantle a global network of mass mailing schemes targeting elderly and vulnerable victims.  The schemes involved a network with components in Canada, France, India, the Netherlands, Singapore, Switzerland, Turkey and the United States.   The network included an India-based printer that manufactured solicitations and arranged for bulk shipment to U.S. victims; a mailer in Switzerland; list brokers in the United States who bought and sold lists of victims so that once victims had fallen prey, others could target them; a “caging” service in the Netherlands that collected money; and a Canadian payment processor that, for more than 20 years, helped dozens of international fraudsters gain access to U.S. banks and take money from Americans.  Stopping this network involved coordination between the Department of Justice, Department of Treasury, Postal Inspection Service, Federal Trade Commission, Iowa Attorney General’s office and counterparts in other countries.  Just to give you a sample of the coordinated actions, on Sept. 22, 2016: 

    • The Treasury Department’s Office of Foreign Assets Control blocked assets from the Canadian payment processor and a network of individuals and entities across 18 countries.
    • The Justice Department filed criminal charges and a civil injunction against a Turkish mass mailer. 
    • The Justice Department brought a series of civil actions to shut down companies based in the United States, India, Switzerland and Singapore.  These companies were responsible for mailing millions of multi-piece solicitations to potential victims throughout the United States.  
    • The Justice Department entered into a consent decree with two Dutch “caging” businesses that collected and forward money.  Our efforts were coordinated with Dutch authorities who executed search warrants on the businesses and took control of the Dutch post office boxes used to receive victims’ funds.   
    • The Federal Trade Commission filed a case against a related mass-mailer, printer, and list broker.  
    • The Iowa Attorney General negotiated a compliance agreement with two firms that brokered victim lists.

    Of course, what matters even more than going after these schemes is preventing people from falling prey in the first place.  Here too, federal agencies are working in cooperation and dedicated to the effort.   The Department of Justice has distributed educational materials about these kinds of scams, the U.S. Postal Inspection Service has developed an electronic press kit for media outlets, my former colleagues at the Federal Trade Commission operate a “Pass It On” campaign that encourages people to share information about frauds that affect older Americans, the Social Security Administration is educating beneficiaries through its network of over 1,200 field offices nationwide, and the Consumer Financial Protection Bureau has produced a mail fraud alert placemat in coordination with Meals on Wheels America to distribute to seniors nationwide.  Similarly, private organizations that work in the area of elder justice and consumer protection are doing their part.  For example, AARP will be posting information through its Fraud Watch Network.  And the Consumers Union, the policy arm of Consumer Reports, is alerting consumers about a variety of elder scams.  

    Going forward, the Department of Justice will continue to work with private, local, state, federal and global partners.   And we urge all of you to tell us where the Department can do more.  The federal government’s work on behalf of the elderly began long before this Administration, and it will continue long after.  I expect that my successors, and my successors’ successors, will share our commitment to making sure our parents, grandparents and friends age with grace and dignity.  And I look forward to all of you, who have worked so hard in this area, working with the next Administration to combat financial fraud and protect elderly Americans.  Thank you again for having me here today.  

    MIL Security OSI

  • MIL-OSI: Annual general meeting of Ringkjøbing Landbobank A/S

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen
    London Stock Exchange
    Euronext Dublin
    Other stakeholders

    Date        5 February 2025

    Annual general meeting of Ringkjøbing Landbobank A/S

    The bank will hold its annual general meeting at 5:00 p.m. on Wednesday, 5 March 2025 at the ROFI Centre, Kirkevej 26, Rindum, 6950 Ringkøbing, Denmark.

    Agenda as per the bank’s articles of association:

    1. Election of chairperson

    The board of directors proposes that Allan Østergaard Sørensen, attorney-at-law, chair the general meeting.

    2. The board’s report on the bank’s activities in the previous year

    The board of directors proposes that the board’s report on the bank’s activities in the previous year be adopted.

    3. Presentation of the annual report for approval

    The board of directors proposes that the annual report for 2024 be approved.

    Further reference is made to the published annual report for 2024.

    4. Decision on allocation of profit or covering of loss under the approved annual report

    The board of directors proposes that the distribution of profit be approved.

    Further reference is made to the published annual report for 2024.

    5. Consultative vote on the remuneration report

    The board of directors proposes that the remuneration report for 2024 be approved.

    Further reference is made to the published remuneration report for 2024.

    6. Approval of the remuneration of the board of directors for the current financial year

    The shareholders’ committee and the board of directors propose that the remuneration of the board of directors for the current financial year be approved.

    Further reference is made to the full proposals.

    7. Remuneration policy

    The board of directors proposes that the updated remuneration policy be approved.

    Further reference is made to the full proposals.

    8. Election of members to the shareholders’ committee

    In accordance with the decision made by the bank’s annual general meeting held on 28 February 2024, the following members of the shareholders’ committee, whose terms of office end in 2025 and 2026, are resigning: Mette Bundgaard, Per Lykkegaard Christensen, Ole Kirkegård Erlandsen, Thomas Sindberg Hansen, Tonny Hansen, Kim Jacobsen, Morten Jensen, Kasper Lykke Kjeldsen, Lotte Littau Kjærgaard, Niels Erik Burgdorf Madsen, Martin Krogh Pedersen, Poul Kjær Poulsgaard, Kristian Skannerup, Allan Østergaard Sørensen, Jørgen Kolle Sørensen, Sten Uggerhøj, Lasse Svoldgaard Vesterby and Christina Ørskov.

    In addition, Lars Møller and Yvonne Skagen must retire from the shareholders’ committee due to the age requirement in the articles of association.

    The shareholders’ committee and the board of directors propose re-election of the following members, whose terms of office end in 2025 and 2026:

    • Mette Bundgaard, police superintendent, No, born 1966
    • Per Lykkegaard Christensen, farmer, Hjallerup, born 1959
    • Ole Kirkegård Erlandsen, butcher, Snejbjerg, born 1962
    • Thomas Sindberg Hansen, grocer, Kloster, born 1978
    • Tonny Hansen, former college principal, Ringkøbing, born 1958
    • Kim Jacobsen, manager, Aalborg, born 1969
    • Morten Jensen, attorney-at-law (Supreme Court), Dronninglund, born 1961
    • Kasper Lykke Kjeldsen, timber merchant, Højbjerg, born 1981
    • Lotte Littau Kjærgaard, manager, Holstebro, born 1969
    • Niels Erik Burgdorf Madsen, manager, Ølgod, born 1959
    • Martin Krogh Pedersen, CEO, Ringkøbing, born 1967
    • Poul Kjær Poulsgaard, farmer, Madum, born 1974
    • Kristian Skannerup, manufacturer, Tim, born 1959
    • Allan Østergaard Sørensen, attorney-at-law (High Court), Ringkøbing, born 1982
    • Jørgen Kolle Sørensen, sales representative and branch manager, Hvide Sande, born 1970
    • Sten Uggerhøj, car dealer, Frederikshavn, born 1959
    • Lasse Svoldgaard Vesterby, manager, Ringkøbing, born 1978
    • Christina Ørskov, manager, Gærum, born 1969

    The shareholders’ committee and the board of directors propose the following for election:

    • Rasmus Alstrup, farmer, Videbæk, born 1985
    • Rikke Ahnfeldt Kjær, CFO, Gistrup, born 1980
    • Pia Stevnhøj Sommer, sales director, Lind, born 1979

    In recruiting and proposing candidates for the shareholders’ committee (election and re-election), the committee and board of directors have focused on ensuring a diverse committee membership in terms of business experience, professional qualifications and expertise, gender, age etc.

    9. Election of one or more auditors

    In accordance with the audit committee’s recommendation, the shareholders’ committee and the board of directors propose that PricewaterhouseCoopers, Statsautoriseret Revisionspartner-selskab be re-elected as external auditor and sustainability auditor.

    Further reference is made to the full proposals.

    10. Authorisation for the board of directors to permit the bank to acquire its own shares

    The board of directors proposes that it be granted authorisation to permit the bank to acquire its own shares, in accordance with current legislation, until the next annual general meeting, to a total nominal value of ten percent (10%) of the share capital, such that the shares can be acquired at current market price plus or minus ten percent (+/-10%) at the time of acquisition. 
    Further reference is made to the full proposals.

    11. Any proposals from the board of directors, the shareholders’ committee or shareholders

    11.a. Proposed amendments to the articles of association

    The shareholders’ committee and the board of directors propose the following amendments to the articles of association:

    Art. 2a-2b:
    It is proposed that the authorisations in articles 2a and 2b be extended to 4 March 2030.
    If the proposal is approved, the wording of articles 2a and 2b of the bank’s articles of association will be changed to the following:

    Art. 2a:
    “The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 5,341,347 with right of pre-emption for the bank’s existing shareholders. The capital increase shall be fully paid up in cash. The capital increase may be below the market price. This authorisation shall apply until 4 March 2030.”

    Art. 2b:
    “The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 2,670,673 without right of pre-emption for the bank’s existing shareholders. The capital increase may be by cash payment or contribution of an existing company or specific asset values corresponding to the value of the shares issued. The capital increase shall be fully paid up at the market price ascertained by the board of directors. This authorisation shall apply until 4 March 2030.”

    The background to the proposal is that the board of directors wants to ensure continued flexibility regarding the granting of authorisations to the board of directors.

    The proposed amendments to the articles of association are also given in the full proposals to which we refer and which are available on the bank’s website, www.landbobanken.com.

    11.b. Proposal to reduce the bank’s share capital by nom. DKK 1,315,042 by cancellation of its own shares

    The board of directors proposes a reduction in the bank’s share capital from nom. DKK 26,706,739 to nom. DKK 25,391,697 by cancellation of 1,315,042 nom. DKK 1 shares from the bank’s holding of its own shares of a nominal value of DKK 1,315,042.

    Please note that, in accordance with section 188(1) of the Danish Companies Act, the purpose of the reduction in the bank’s share capital is payment to shareholders. The amount of the reduction has been used as payment to shareholders for shares acquired by the bank under the authorisation previously granted to the board of directors by the general meeting.

    The share capital will consequently be reduced by nom. DKK 1,315,042 and the bank’s holding of its own shares will be reduced by 1,315,042 nom. DKK 1 shares. Please note that, in accordance with section 188(2) of the Danish Companies Act, the shares in question were acquired for a total sum of DKK 1,524,948,149. This means that, apart from the reduction in nominal capital, DKK 1,523,633,107 has been paid to shareholders.

    The purpose of the board of directors’ proposed reduction of the share capital is to maintain flexibility in the bank’s capital structure.

    If the proposal is adopted, the following changes will be made to articles 2, 2a, 2b and 2c of the articles of association:
    Art. 2: The amount of “26,706,739” will be changed to “25,391,697”, Art. 2a: The amount of “5,341,347” will be changed to “5,078,339”, Art. 2b: The amount of “2,670,673” will be changed to “2,539,169”, and Art. 2c: The amount of “5,341,347” will be changed to “5,078,339”.

    11.c. Proposed authorisation for the board of directors or its appointee

    The board of directors proposes that the board of directors, or its appointee, be authorised to report the decisions which have been adopted at the general meeting for registration and to make such changes to the documents submitted to the Danish Business Authority as the Authority may require or find appropriate in connection with registration of the decisions of the general meeting.

    11.d. Proposal from a shareholder

    Proposal from shareholder Poul Aksel Andersen, Hobro:

    Reason for the proposal:
    The minutes of the 2024 annual general meeting state that: “In recruiting and proposing candidates for the shareholders’ committee (election and re-election), the committee and board of directors have focused on ensuring a diverse committee membership in terms of business experience, professional qualifications and expertise, gender, age etc.”

    Despite this, it is evident from the minutes that all of the elected members of the shareholders’ committee in 2024 were in leading positions. The shareholders’ committee is therefore hardly representative of the bank’s shareholders or customers in terms of business experience, professional qualifications or expertise.

    Proposal:
    It is proposed, that Ringkjøbing Landbobank’s work of recruiting and proposing of candidates in the future should focus on making the composition of the shareholders’ committee representative of the bank’s shareholders and customers; that the bank should make the process of admitting committee members transparent for all shareholders who might be interested in joining the shareholders’ committee; and that the bank’s work should focus specifically on ensuring that at least 25% of the members of the shareholders’ committee are employees without responsibilities for managing other staff.

    The board of directors’ recommendation regarding the proposal:

    The members of the bank’s board of directors are elected by the shareholders’ committee. Six of the eight current board members elected by the shareholders’ committee came from the membership of the shareholders’ committee. The shareholders’ committee is thus a recruitment channel for the board of directors. It is relevant, therefore, that the members of the shareholders’ committee possess the right competences for onward recruitment to the board of directors. In addition, the authorities nowadays impose a number of requirements on serving members of boards of directors of financial undertakings, including in relation to their competences, and there are also requirements regarding the collective competences of the plenary board of directors.

    The board of directors, the board of directors’ nomination committee and the shareholders’ committee are already working to promote diversity in the shareholders’ committee.

    The board of directors does not consider it appropriate to tie the board of directors’ nomination committee, the board of directors and the shareholders’ committee to a specific framework in future recruitment processes for nominations of candidates to the shareholders’ committee.

    For the above reasons, the board of directors does not support the proposal.

    Validity requirements for resolutions

    The proposals under items 11.a. and 11.b. of the agenda require adoption by at least two-thirds (2/3) both of votes cast and of the share capital with voting rights represented at the general meeting. Other proposals can be adopted by simple majority vote, except item 5 on the agenda which is a consultative vote.

    Amount of share capital and the shareholders’ voting rights and date of registration – the right to attend and vote at the general meeting

    Please note that the amount of the share capital is nom. DKK 26,706,739 consisting of 26,706,739 nom. DKK 1 shares.

    As for shareholders’ voting rights, each share of nom. DKK 1 carries one (1) vote when the share is recorded in the company’s share register, or when the shareholder has reported and documented their right. However, a shareholder may cast no more than 3,000 votes.

    The right to attend and vote at the general meeting may only be exercised by shareholders who, by 11:59 p.m. on the date of registration, Wednesday, 26 February 2025, are listed as shareholders in the register of shareholders or have submitted a request to the bank, which the bank has received by that deadline, for inclusion in the register of shareholders.

    Registration for the general meeting, questions and admission cards

    Registration for the general meeting can be made

    • by contacting Euronext Securities A/S by phone +45 4358 8866 or email to CPH-investor@euronext.com or
    • by contacting one of the bank’s branches.

    In accordance with the bank’s articles of association, the deadline for registering for the general meeting is 11:59 p.m. on Friday 28 February 2025, after which admission cards for the general meeting can no longer be ordered.

    Shareholders or proxies may be accompanied by an adviser, provided the adviser’s attendance has been notified on time.

    Shareholders may ask questions in writing about the agenda items or the bank’s position in general, to be answered at the general meeting. Questions may be sent by letter to Ringkjøbing Landbobank A/S, for the attention of: General Management, Torvet 1, 6950 Ringkøbing, Denmark, or by email to regnskab@landbobanken.dk.

    Voting

    Shareholders may attend and vote in person or by proxy at the general meeting. Postal voting is also possible before the general meeting.

    Shareholders may grant proxy to the bank’s board of directors or a third party by 11:59 p.m. on Friday 28 February 2025. The proxy may be issued electronically on InvestorPortal at Euronext Securities, via the bank’s website www.landbobanken.com or in writing on a proxy form which is available from the bank’s branches.

    If a written proxy is used, it must be completed and signed, and received at the bank by the above deadline, i.e. 11:59 p.m. on Friday 28 February 2025.

    The proxy may be sent by post for the attention of: Accounts Department, Ringkjøbing Landbobank A/S, Torvet 1, 6950 Ringkøbing, Denmark, by email to regnskab@landbobanken.dk or by fax to +45 7624 4913.

    Shareholders may also send a postal vote before the general meeting.

    Postal votes may be cast electronically on InvestorPortal at Euronext Securities, via the bank’s website www.landbobanken.com or in writing on a postal vote form which is available from the bank’s branches.

    If a postal vote is cast, the ballot paper must be returned for the attention of: Accounts Department, Ringkjøbing Landbobank A/S, Torvet 1, 6950 Ringkøbing, Denmark, by email to regnskab@landbobanken.dk or by fax to +45 7624 4913.

    Electronic postal votes must be cast by 10:00 a.m. on Tuesday, 4 March 2025, by which time a postal ballot paper must also be received by the bank.

    Exercising financial rights

    Ringkjøbing Landbobank’s shareholders can choose Ringkjøbing Landbobank A/S as the account-holding institution for the purpose of exercising the financial rights through Ringkjøbing Landbobank A/S.

    Further information

    The annual report, agenda and full proposals with the proposed amendments to the articles of association, the remuneration report, other documents under section 99(1) of the Danish Companies Act and information on the collection and processing of personal data in connection with the annual general meeting will be published on the bank’s website www.landbobanken.com and made available for inspection by shareholders on Wednesday, 5 February 2025.

    Recording and webcast

    The general meeting will be recorded and the recording will subsequently be uploaded to the bank’s website, www.landbobanken.com.

    The general meeting will also be webcast via the bank’s website, www.landbobanken.com and can be viewed by everyone. It will not be possible to ask questions or vote via the webcast.

    Personal data

    For details on the bank’s processing of personal data in respect of general meetings, please see Ringkjøbing Landbobank’s privacy policy for shareholders etc., which is available on the bank’s website, www.landbobanken.com.

    Dividend

    Any dividend is expected to be available in shareholders’ return accounts on 10 March 2025.

    Yours sincerely

    Ringkjøbing Landbobank

    On behalf of the board of directors

    Martin Krogh Pedersen
    Chair of the board of directors

    Attachment

    The MIL Network

  • MIL-OSI: Sampo’s Board of Directors has resolved on a share split

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 5 February 2025 at 3:35 pm EET

    Sampo’s Board of Directors has resolved on a share split

    The Board of Directors of Sampo plc has today resolved on a share split by way of a share issue without consideration in proportion to shares owned by shareholders. The resolution is based on the authorisation granted by Sampo’s Annual General Meeting held on 25 April 2024.

    In the share split, Sampo will issue four (4) new A shares for each existing A share and four (4) new B shares for each existing B share to shareholders in proportion to their existing holdings on the record day of the share issuance on 12 February 2025. In total, 2,152,191,088 new Sampo A shares and 800,000 new Sampo B shares will be issued. Following the registration of the new shares, Sampo’s total share count will amount to 2,691,238,860 shares.

    The new shares are expected to be registered with the Finnish Trade Register on or about 12 February 2025. The new shares shall be issued without consideration as book-entries in the book-entry system maintained by Euroclear Finland Oy. The new shares shall, where applicable, be further registered as Swedish depository receipts in the securities depository and settlement register maintained by Euroclear Sweden AB and in the form of share entitlements book-entered in VP Securities A/S in Denmark.

    Trading in the new A shares on Nasdaq Helsinki, Nasdaq Stockholm (in the form of Swedish depository receipts) and Nasdaq Copenhagen (in the form of share entitlements) is expected to commence on or about 13 February 2025. However, the new Swedish depository receipts are expected to be available on the accounts in Euroclear Sweden on or about 14 February 2025. The share split does not require any action from shareholders nor holders of Swedish depository receipts. The share split will not affect Sampo’s ISIN codes.

    SAMPO PLC
    Board of Directors

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Maria Silander
    Communications Manager, Media Relations
    tel. +358 10 516 0031

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    FIN-FSA
    The principal media
    www.sampo.com

    The MIL Network

  • MIL-OSI USA: U.S. International Trade in Goods and Services, December and Annual 2024

    Source: US Bureau of Economic Analysis

    The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $98.4 billion in December, up $19.5 billion from $78.9 billion in November, revised.

    U.S. International Trade in Goods and Services Deficit
    Deficit: $98.4 Billion  +24.7%°
    Exports: $266.5 Billion  –2.6%°
    Imports: $364.9 Billion  +3.5%°

    Next release: Thursday, March 6, 2025

    (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes

    Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, February 5, 2025

    Exports, Imports, and Balance (exhibit 1)

    December exports were $266.5 billion, $7.1 billion less than November exports. December imports were $364.9 billion, $12.4 billion more than November imports.

    The December increase in the goods and services deficit reflected an increase in the goods deficit of $18.9 billion to $123.0 billion and a decrease in the services surplus of $0.6 billion to $24.5 billion.

    For 2024, the goods and services deficit increased $133.5 billion, or 17.0 percent, from 2023. Exports increased $119.8 billion or 3.9 percent. Imports increased $253.3 billion or 6.6 percent.

    Three-Month Moving Averages (exhibit 2)

    The average goods and services deficit increased $4.7 billion to $83.8 billion for the three months ending in December.

    • Average exports decreased $1.2 billion to $268.8 billion in December.
    • Average imports increased $3.5 billion to $352.7 billion in December.

    Year-over-year, the average goods and services deficit increased $19.2 billion from the three months ending in December 2023.

    • Average exports increased $9.8 billion from December 2023.
    • Average imports increased $29.0 billion from December 2023.

    Exports (exhibits 3, 6, and 7)

    Exports of goods decreased $7.5 billion to $170.2 billion in December.

      Exports of goods on a Census basis decreased $6.7 billion.

    • Consumer goods decreased $1.8 billion.
      • Pharmaceutical preparations decreased $1.4 billion.
    • Industrial supplies and materials decreased $1.8 billion.
      • Crude oil decreased $0.9 billion.
      • Other petroleum products decreased $0.3 billion.
      • Other precious metals decreased $0.3 billion.
      • Fertilizers, pesticides, and insecticides decreased $0.3 billion.
    • Capital goods decreased $1.4 billion.
      • Computers decreased $0.9 billion.
      • Civilian aircraft increased $1.4 billion.
    • Automotive vehicles, parts, and engines decreased $0.9 billion.
      • Trucks, buses, and special purpose vehicles decreased $0.4 billion.
      • Other automotive parts and accessories decreased $0.3 billion.

      Net balance of payments adjustments decreased $0.8 billion.

    Exports of services increased $0.4 billion to $96.3 billion in December.

    • Travel increased $0.3 billion.
    • Financial services increased $0.1 billion.

    Imports (exhibits 4, 6, and 8)

    Imports of goods increased $11.4 billion to $293.1 billion in December.

      Imports of goods on a Census basis increased $11.3 billion.

    • Industrial supplies and materials increased $10.8 billion.
      • Finished metal shapes increased $9.2 billion.
      • Nonmonetary gold increased $1.0 billion.
    • Consumer goods increased $2.2 billion.
      • Toys, games, and sporting goods increased $0.8 billion.
      • Cell phones and other household goods increased $0.8 billion.
    • Capital goods increased $1.3 billion.
      • Computers increased $1.2 billion.
      • Computer accessories increased $0.9 billion.
      • Civilian aircraft decreased $1.1 billion.
    • Automotive vehicles, parts, and engines decreased $2.2 billion.
      • Passenger cars decreased $1.6 billion.

      Net balance of payments adjustments increased $0.1 billion.

    Imports of services increased $1.0 billion to $71.8 billion in December.

    • Transport increased $0.5 billion.
    • Travel increased $0.3 billion.

    Real Goods in 2017 Dollars – Census Basis (exhibit 11)

    The real goods deficit increased $14.9 billion, or 15.4 percent, to $111.9 billion in December, compared to a 17.3 percent increase in the nominal deficit.

    • Real exports of goods decreased $5.4 billion, or 3.7 percent, to $141.9 billion, compared to a 3.8 percent decrease in nominal exports.
    • Real imports of goods increased $9.5 billion, or 3.9 percent, to $253.8 billion, compared to a 4.0 percent increase in nominal imports.

    Revisions

    In addition to revisions to source data for the November statistics, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals.

    Revisions to November exports

    • Exports of goods were revised up $0.1 billion.
    • Exports of services were revised up $0.1 billion.

    Revisions to November imports

    • Imports of goods were revised up $0.8 billion.
    • Imports of services were revised up $0.1 billion.

    Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)

    The December figures show surpluses, in billions of dollars, with Netherlands ($5.0), South and Central America ($3.5), United Kingdom ($2.3), Hong Kong ($0.7), Brazil ($0.4), Saudi Arabia ($0.4), Belgium ($0.3), and Australia ($0.2). Deficits were recorded, in billions of dollars, with China ($25.3), European Union ($20.4), Mexico ($15.2), Switzerland ($13.0), Vietnam ($11.4), Canada ($7.9), Germany ($7.6), Taiwan ($6.9), Ireland ($6.2), South Korea ($5.6), Japan ($5.5), India ($4.9), Italy ($4.1), Malaysia ($2.5), France ($1.1), Israel ($0.8), and Singapore ($0.4).

    • The deficit with Switzerland increased $9.1 billion to $13.0 billion in December. Exports decreased $0.7 billion to $1.2 billion and imports increased $8.4 billion to $14.2 billion.
    • The deficit with Canada increased $2.9 billion to $7.9 billion in December. Exports decreased $0.4 billion to $29.1 billion and imports increased $2.5 billion to $37.0 billion.
    • The deficit with Ireland decreased $3.1 billion to $6.2 billion in December. Exports decreased $0.1 billion to $1.2 billion and imports decreased $3.2 billion to $7.5 billion.

    Annual Summary for 2024

    Exports, Imports, and Balance (exhibit 1)

    For 2024, the goods and services deficit was $918.4 billion, up $133.5 billion from $784.9 billion in 2023. Exports were $3,191.6 billion, up $119.8 billion from 2023. Imports were $4,110.0 billion, up $253.3 billion from 2023.

    The 2024 increase in the goods and services deficit reflected an increase in the goods deficit of $148.5 billion, or 14.0 percent, to $1,211.7 billion and an increase in the services surplus of $14.9 billion, or 5.4 percent, to $293.3 billion.

    The goods and services deficit was 3.1 percent of current-dollar gross domestic product in 2024, up from 2.8 percent in 2023.

    Exports (exhibits 3, 6, and 7)

    Exports of goods increased $38.6 billion to $2,083.8 billion in 2024.

      Exports of goods on a Census basis increased $47.1 billion.

    • Capital goods increased $40.2 billion.
      • Computer accessories increased $11.3 billion.
      • Civilian aircraft engines increased $8.7 billion.
      • Computers increased $8.2 billion.
      • Semiconductors increased $8.1 billion.
    • Other goods increased $17.9 billion. (See the “Notice” for more information.)
    • Automotive vehicles, parts, and engines decreased $10.8 billion.
      • Other automotive parts and accessories decreased $4.3 billion.
      • Passenger cars decreased $4.0 billion.
      • Trucks, buses, and special purpose vehicles decreased $3.0 billion.

      Net balance of payments adjustments decreased $8.5 billion.

    Exports of services increased $81.2 billion to $1,107.8 billion in 2024.

    • Travel increased $26.3 billion.
    • Other business services increased $16.0 billion.
    • Telecommunications, computer, and information services increased $11.9 billion.
    • Financial services increased $11.6 billion.

    Imports (exhibits 4, 6, and 8)

    Imports of goods increased $187.1 billion to $3,295.6 billion in 2024.

      Imports of goods on a Census basis increased $187.2 billion.

    • Capital goods increased $103.3 billion.
      • Computer accessories increased $33.5 billion.
      • Computers increased $28.3 billion.
      • Semiconductors increased $9.4 billion.
      • Other industrial machinery increased $9.0 billion.
    • Consumer goods increased $48.4 billion.
      • Pharmaceutical preparations increased $43.6 billion.
    • Automotive vehicles, parts, and engines increased $16.1 billion.
      • Passenger cars increased $10.0 billion.
      • Other automotive parts and accessories increased $4.8 billion.
    • Foods, feeds, and beverages increased $15.9 billion.
      • Meat products increased $3.5 billion.
      • Fruits, frozen juices increased $2.3 billion.
      • Bakery products increased $2.2 billion.
      • Other foods increased $2.0 billion.
      • Vegetables increased $1.7 billion.

      Net balance of payments adjustments decreased $0.2 billion.

    Imports of services increased $66.2 billion to $814.4 billion in 2024.

    • Travel increased $19.2 billion.
    • Charges for the use of intellectual property increased $12.2 billion.
    • Transport increased $11.7 billion.
    • Insurance services increased $11.5 billion.

    Real Goods in 2017 Dollars – Census Basis (exhibit 11)

    The real goods deficit increased $98.8 billion, or 9.6 percent, to $1,132.4 billion in 2024, compared to a 13.2 percent increase in the nominal deficit.

    • Real exports of goods increased $41.7 billion, or 2.5 percent, to $1,737.8 billion, compared to a 2.3 percent increase in nominal exports.
    • Real imports of goods increased $140.5 billion, or 5.1 percent, to $2,870.2 billion, compared to a 6.1 percent increase in nominal imports.

    Goods by Selected Countries and Areas – Census Basis (exhibits 14 and 14a)

    The 2024 figures show surpluses, in billions of dollars, with Netherlands ($55.5), South and Central America ($47.3), Hong Kong ($21.9), Australia ($17.9), and United Kingdom ($11.9). Deficits were recorded, in billions of dollars, with China ($295.4), European Union ($235.6), Mexico ($171.8), Vietnam ($123.5), Ireland ($86.7), Germany ($84.8), Taiwan ($73.9), Japan ($68.5), South Korea ($66.0), Canada ($63.3), India ($45.7), Thailand ($45.6), Italy ($44.0), Switzerland ($38.5), Malaysia ($24.8), Indonesia ($17.9), France ($16.4), Austria ($13.1), and Sweden ($9.8).

    • The deficit with the European Union increased $26.9 billion to $235.6 billion in 2024. Exports increased $2.6 billion to $370.2 billion and imports increased $29.4 billion to $605.8 billion.
    • The deficit with Taiwan increased $26.1 billion to $73.9 billion in 2024. Exports increased $2.4 billion to $42.3 billion and imports increased $28.5 billion to $116.3 billion.
    • The surplus with the Netherlands increased $12.7 billion to $55.5 billion in 2024. Exports increased $8.3 billion to $89.6 billion and imports decreased $4.4 billion to $34.1 billion.

    All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.

    Next release: March 6, 2025, at 8:30 a.m EST
    U.S. International Trade in Goods and Services, January 2025

    Notice

    Impact of Canada Border Services Agency’s (CBSA) Release of CBSA Assessment and Revenue Management (CARM)

    The CBSA introduced a new accounting system (CARM) on October 21, 2024. As a result, importers in Canada have experienced delays in filing shipment information. These delays affected the compilation of statistics on U.S. exports of goods to Canada for September through December 2024, which are derived from data compiled by Canada through the United States – Canada Data Exchange. A dollar estimate of the filing backlog is included in estimates for late receipts and, following the Census Bureau’s customary practice for late receipt estimates, is included in the export end-use category “Other goods” as well as in exports to Canada. This estimate will be replaced with the actual transactions reported by the Harmonized System classification in June 2025 with the release of “U.S. International Trade in Goods and Services, Annual Revision.” Until then, please refer to the supplemental spreadsheet “CARM Exports to Canada Corrections,” which provides a breakdown of the late receipts by 1-digit end-use category. This spreadsheet will be updated as late export transactions are received to reflect reassignments from the initial “Other goods” category to the appropriate 1-digit end-use category.

    If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, International Trade Macro Analysis Branch, on 800-549-0595, option 4, or at eid.international.trade.data@census.gov or BEA, Balance of Payments Division, at InternationalAccounts@bea.gov.

    Upcoming Changes to the Real (Chained-Dollar) Series

    Effective with the release of the February 2025 statistics on April 3, 2025, the Census Bureau will continue to use the Bureau of Labor Statistics (BLS) U.S. Import and Export Price Indexes to calculate the chained-dollar series (exhibits 10 and 11). The BLS will be implementing changes to the indexes with the release of the February 2025 U.S. Import and Export Price Indexes on March 18, 2025. The changes to the indexes could impact the chained-dollar values. Please refer to the BLS notice for additional information on the Upcoming Change to Data Source for Import and Export Price Indexes: U.S. Bureau of Labor Statistics.

    If you have any questions or need additional information, please contact the Census Bureau, Economic Statistical Methods Division, International Trade Statistical Methods Branch, on 301-763-3080.

    MIL OSI USA News

  • MIL-OSI Global: Ukraine: prospects for peace are slim unless Europe grips the reality of Trump’s world

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    When EU leaders gathered for their first ever meeting solely dedicated to defence issues on February 3, in Brussels, the war in Ukraine was uppermost on their minds. Yet, three weeks before the third anniversary of Russia’s full-scale invasion, Ukraine is only the tip of an iceberg of security challenges that Europe faces.

    War on a scale not seen in Europe since 1945 has returned to the continent. Russian sabotage of everything from critical infrastructure to elections is at levels reminiscent of the cold war. And the future of the EU’s most important defence alliance, Nato, is uncertain.

    In light of these challenges alone, let alone the ongoing instability in the Middle East, western Balkans and south Caucasus, it’s hard to disagree with the observation by EU council president António Costa that: “Europe needs to assume greater responsibility for its own defence.”

    But it’s hardly a groundbreaking statement. And at the end of proceedings, the outcome of what was ultimately only an informal meeting, was underwhelmingly summarised by Costa as “progress in our discussions on building the Europe of defence”.

    This does not bode well for Ukraine. US support is unlikely to continue at the levels reached during the final months of the Biden administration. In fact, ongoing debates in the White House on Ukraine policy have already caused some disruption to arms shipments from Washington to Kyiv.

    Building blocs

    If there is a silver lining for Ukraine here, it is Trump’s continuous search for a good deal. His latest idea is that Ukraine could pay for US support with favourable concessions on rare earths, and potentially other strategic resources.

    These would include preferential deals to supply the US with titanium, iron ore and coal, as well as critical minerals, including lithium. Whether this is a sustainable basis for US support in the long term is as unclear as whether it will make any material difference to Trump thinking beyond a ceasefire.

    The other ray of hope for Ukraine is that there is a much greater recognition in EU capitals now about the need for a common European approach to defence. A greater focus on building a “coalition of the willing” including non-EU members UK and Norway is a potentially promising path.

    But hope, as they say, is not a winning strategy. In a Trump-like transactional fashion, Brussels – in exchange for a deal on defence with London – is insisting on UK concessions on youth mobility and fishing rights. It’s unlikely that this will prove an insurmountable stumbling bloc, but it will create yet more delays at a moment when time is of the essence for Europe as a whole to signal determination about security and defence.

    This is further complicated by two factors. On the one hand, there is the looming threat of a trade war between the US and the EU. That the UK may still be able to avoid a similar fate, according to Trump, feels like good news for London. But it will also put the UK in a potentially awkward position as it seeks an ambitious post-Brexit reset with the EU and harbours hopes to improve relations with China.

    With Trump clearly hostile towards both Brussels and Beijing, this may become an impossible balancing act for the British government to pull off.

    Europe’s fragile unity

    On the other hand, EU unity has become more fragile. Trump’s victory has emboldened other populist leaders in Europe – notably the significantly more pro-Russian Slovak and Hungarian prime ministers, Robert Fico and Viktor Orbán. The same applies to the UK, where Nigel Farage, leader of the Reform UK party – which has overtaken the ruling Labour party in the latest public opinion polls – is known for his Ukraine-sceptical views.

    To that equation add a weak government in France and the likelihood of protracted coalition negotiations in Germany after hotly contested parliamentary elections at the end of February. The prospects for decisive EU and wider European action on strengthening its own security and defence capabilities right now appear vanishingly slim.

    Seen in the light of such multiple and complex challenges, it is astonishing how much the EU is still trapped in a wishful thinking exercise – and one that appears more and more disconnected from reality. Contrary to Costa’s fulsome pronouncements after the EU leaders’ meeting, there is little evidence that the US under Trump will remain Europe’s friend, ally and partner.

    There’s also little to suggest that the American president shares the values and principles that once underpinned the now rapidly dismantling international order. Other countries’ national sovereignty, territorial integrity and the inviolability of their borders are not at the forefront of Trump’s foreign policy doctrine.

    If, as Costa proclaimed, “peace in Europe depends on Ukraine winning a comprehensive, just and lasting peace”, then the future looks bleak indeed for Europe and Ukraine. At this point the EU and its member states are a long way off from being able to provide Ukraine with the support it needs to win. This is not just because they lack the military and defence-industrial capabilities. They also lack a credible, shared vision of how to acquire them while navigating a Trumpian world.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    ref. Ukraine: prospects for peace are slim unless Europe grips the reality of Trump’s world – https://theconversation.com/ukraine-prospects-for-peace-are-slim-unless-europe-grips-the-reality-of-trumps-world-248911

    MIL OSI – Global Reports

  • MIL-OSI Global: Why Democrats are switching off the news – a psychologist explains

    Source: The Conversation – UK – By Geoff Beattie, Professor of Psychology, Edge Hill University

    Many Democrats appear to be switching off mainstream news channels and other media, following Donald Trump’s victory in the 2024 presidential election.

    Around 72% of Democrats say they feel a need to limit their consumption of news about politics and government, according to a recent poll by AP-NORC.

    Research has highlighted the negative effects of news avoidance (resistance to, or avoidance of, news) on people’s political knowledge and civic engagement, the cornerstones of democratic thought and action.

    Research also shows what prompts news avoidance generally – and the return of Trump may be increasing the percentage of people in the US who are turning away from news and current affairs.

    Research from the University of Jyvaskyla in Finland measured how news avoidance varied across several nations between 2016 and 2019. It also attempted to identify the drivers of news avoidance.

    Researchers found the proportion of consumers who actively avoided the news varied significantly from one country to another – and for some, it was temporary.

    In their sample of five countries, they found news avoidance was highest in Argentina (45%) and the US (41%) and lowest in Finland (17%) and Japan (11%), with Israel somewhere in between. The US, it seems, has always been high but there are some suggestions it is getting worse.

    People made conscious decisions about what news to consume and what to avoid, given the amount of news available. News overload and cognitive fatigue (where people feel worn out by the amount of news they feel they should listen to) were especially important when there was intense national news focus on certain individuals. Examples of this could be coverage of the corruption case involving Prime Minister Benjamin Netanyahu in Israel, or Trump’s recent stream of executive orders.

    But factors can vary. The study found that in Japan, the main cognitive driver was “a reluctance to discuss or be exposed to subjective and often extreme opinions”. In Argentina, it was a distrust of politicians generally.

    However, emotional factors were also critical to news avoidance. Many interviewees reported feeling emotional distress, sadness, fear and anger with certain types of negative news, to the extent that it sometimes affected their mental health.

    But emotional factors also affect specific behaviour. News avoidance can become “news aversion” (more emotional, more visceral), turning away from the news not because of some deliberate rational judgment (“I’ll reduce my viewing a little, according to American Psychological Association guidelines”) but because of overwhelming feelings of anxiety or disgust when confronted by certain stories or individuals.

    Disgust is a powerful negative emotion linked to very quick responding, and could create a need to turn away from something immediately. Feelings of anxiety may be linked to images of political figures, for instance.

    I have just finished writing a book exploring climate anxiety. For some, this can be a debilitating form of anxiety, and it is growing globally especially among young people. It can be overwhelming, affecting study, work and sleep.

    What can you do about news avoidance?

    The recent image of Trump yelling that “we’re going to drill, baby, drill” has been implanted in the minds of many who suffer from climate anxiety, possibly intensifying their distress.

    For many Democrats, the aftermath of Trump’s victory was emotionally devastating. On October 24 2024 (two weeks before the election), an open letter was published in the New York Times signed by 233 mental health professionals with the following warning: “We have an ethical duty to warn the public that Donald Trump is an existential threat to democracy. His symptoms of severe, untreatable personality disorder – malignant narcissism – makes him deceitful, destructive, deluded and dangerous. He is grossly unfit for leadership.”

    For Democrats in particular, Trump may display many negative features including his lack of remorse or self-awareness, his break from traditional political norms and use of populist, nationalist rhetoric, or his rejection of civil discourse in favour of divisive and inflammatory language.

    So Trump’s victory seemed, to many Democrats, to signal the triumph of ignorance, bigotry and authoritarianism. An emotional response from them was always likely, and chimes with this avoiding of news.

    Cognitive dissonance

    Cognitive dissonance theory suggests that when individuals are confronted with information (in this case from Trump) that contradicts their deeply held beliefs but they still sit and listen dutifully, this can create considerable psychological discomfort.

    To reduce this discomfort, people often engage in behaviour that avoids or minimises this conflict. But they can’t change their political views, and they can’t change Trump or his policies (he has got an incredibly powerful mandate), so that leaves few other options. Or perhaps just one: avoiding the relentless media cycle of Trump’s tweets, policies, pronouncements, presidential pardons, and executive orders.

    By switching off, Democrats – and even some Republicans – can temporarily ease the cognitive dissonance they feel, and this may allow some emotional relief.

    Moreover, this avoidance might help protect them against the further erosion of their political and social identity. They might feel that if they continue to consume news that reaffirms Trump’s power, or as if they are accepting their defeat and their misreading of the American public and, by extension, the legitimacy of his presidency.

    But where will that disengagement take them? And how easy will it be for them to overcome their visceral response to reengage, to reassert themselves and fight back? It’s always more difficult when thoughts and emotion are so tightly intertwined like this.

    But for US Democrats, engagement based on accurate information is critical for the ongoing democratic process, regardless of how painful this might feel right now.

    Geoff Beattie 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. Why Democrats are switching off the news – a psychologist explains – https://theconversation.com/why-democrats-are-switching-off-the-news-a-psychologist-explains-248512

    MIL OSI – Global Reports

  • MIL-OSI Global: As Trump tries to slash US foreign aid, here are 3 common myths many Americans mistakenly believe about it

    Source: The Conversation – USA – By Joannie Tremblay-Boire, Assistant Professor of Public Policy, University of Maryland

    U.S. lawmakers and employees and supporters of the U.S. Agency for International Development speak outside the agency’s headquarters on Feb. 3, 2025. Kevin Dietsch/Getty Images

    U.S. foreign aid is in disarray.

    The Trump administration froze most aid disbursements on Jan. 20. According to billionaire Elon Musk, an adviser to President Donald Trump with “special government employee status,” the U.S. Agency for International Development, widely known as USAID, had been shut down as of Feb. 3, 2025.

    Although the Trump administration lacks the legal authority to do this, hundreds of people on the agency’s staff have been put on unpaid leave or fired, according to news reports.

    And the agency’s official website wasn’t working. A partial replacement, however, had appeared within the State Department’s website.

    I’m a scholar of public policy who researches nonprofits, which in the foreign aid sphere are often called nongovernmental organizations. These groups are responsible for carrying out many programs funded by foreign aid from governments such as the United States.

    In light of the Trump administration’s attack on the government’s main foreign aid agency and the disruption of this funding, I believe it’s important to debunk three common myths:

    1. The U.S. spends too much on foreign aid.
    2. The U.S. spends more than its fair share on foreign aid compared with other countries.
    3. Corrupt governments squander U.S. foreign aid.

    What is foreign aid?

    Foreign aid consists of money, goods and services – such as training – that government agencies provide to other countries. Foreign aid falls into two broad categories: economic assistance and military – sometimes called security – aid.

    Economic assistance includes all programs with development or humanitarian objectives. That tends to include projects related to health, disaster relief, the promotion of civil society, agriculture and the like. Most U.S. economic aid dollars come from the State Department budget, including spending allocated by USAID, which has operated as an independent agency since the Kennedy administration.

    On Feb. 3, Secretary of State Marco Rubio declared that he was serving as USAID’s acting director, indicating that the agency was no longer independent of the State Department.

    While U.S. taxpayers have long spent just a few bucks each on foreign aid every year, the impact is profound, saving millions of people from hunger, averting the worst of natural disasters such as droughts and flooding, tackling life-threatening diseases such as tuberculosis and malaria, and more.

    Myth No. 1: US spends too much on foreign aid

    The United States consistently spends only about 1% of its budget on foreign aid, including military and economic support. The 2023 aid managed by USAID totaled about US$40 billion.

    Americans tend to believe that their government spends a far bigger share of its budget on foreign aid than it does.

    In a survey the Kaiser Family Foundation conducted in 2015, it found that, on average, Americans believed that foreign aid accounts for nearly one-third of the budget. Only 3% of those polled answered correctly that foreign aid constituted 1% or less of total federal spending.

    Myth No. 2: US spends more than its fair share

    According to the Organization for Economic Cooperation and Development, the United States is by far the leading national source of economic assistance dollars. In 2023, it contributed $64.7 billion in overseas development assistance, far outpacing the $37.9 billion spent by Germany, the second-biggest source of that kind of aid. Some of this assistance is managed by USAID, some by the Department of State, and a small portion by other government agencies, such as the Treasury and Health and Human Services departments.

    That tells only part of the story, however. The United States spends very little on foreign aid relative to the size of its economy, particularly compared with other rich countries. The U.S. spent about 0.24% of its gross national income on overseas development assistance in 2023. By comparison, Norway, the top contributor by this metric, gave 1.09% of its gross national income in overseas development aid that year. The United States ranks toward the bottom of OECD countries, close to Portugal and Spain, by this measurement.

    In 1970, the United Nations General Assembly agreed that “economically advanced countries” would aim to direct at least 0.7% of their national income to overseas development assistance. Although developed countries have repeatedly mentioned this target in agreements and at summits since then, very few countries have reached that goal. In 2023, only five countries met the 0.7% target.

    The OECD average was just 0.37% in 2023 – far higher than the 0.24% the U.S. provided that year.

    Myth No. 3: Corrupt governments squander US aid

    You may think that foreign aid consists of government-to-government transfers of money. But governments channel most aid through nonprofits such as Catholic Relief Services, public-private partnerships, private companies such as Chemonics International and Deloitte, and multilateral organizations such as the United Nations and the World Bank.

    In fact, according to the Congressional Research Service, between 2013 and 2022, most U.S. foreign assistance bypassed governments altogether: NGOs received 24% of the money, for-profit companies 21%, multilateral organizations 34%, and other organizations, such as universities, research institutes and faith-based organizations, 7%.

    When the political scientist Simone Dietrich researched this question, she found that the United States outsources a lot of its foreign aid to NGOs. This is especially the case with the support it provides countries with bad governance and rampant corruption such as Sudan and Sri Lanka, which could be likely to squander or swipe those funds.

    To be sure, corrupt governments sometimes do squander U.S. foreign aid. But it is important to understand that most aid never enters the coffers of those corrupt governments in the first place.

    Even without Trump’s proposed cuts, US fails to lead

    Even if Trump fails at his current bid to greatly reduce foreign aid spending, other countries, including the United Kingdom and Denmark, are spending far more on economic assistance for the world’s poorest people, as a share of their economies, than the U.S. does.

    Slashing foreign aid would damage U.S. credibility with American allies, reduce U.S. influence around the globe and – as a group of more than 120 retired generals and admirals predicted when Trump tried to slash foreign aid in his first administration – make Americans less safe.

    Parts of this article appeared in a story first published on April 6, 2017, and have been updated.

    Joannie Tremblay-Boire 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. As Trump tries to slash US foreign aid, here are 3 common myths many Americans mistakenly believe about it – https://theconversation.com/as-trump-tries-to-slash-us-foreign-aid-here-are-3-common-myths-many-americans-mistakenly-believe-about-it-248979

    MIL OSI – Global Reports

  • MIL-OSI Europe: AFRICA/SOUTH SUDAN – Local health authorities forced to suspend HIV & AIDS program in Yambio: thousands of lives at risk

    Source: Agenzia Fides – MIL OSI

    Wednesday, 5 February 2025

    Yambio (Agenzia Fides) – The suspension of the HIV & AIDS program in Yambio has placed thousands of lives at risk. Healthcare workers, patients, and local authorities are now calling for urgent intervention to restore funding and ensure continued access to life-saving treatment.Following the decision to halt the activities of the United States Agency for International Development (USAID) for 90 days, which makes the United States the main country for providing humanitarian aid, the Western Equatoria State Ministry of Health has confirmed the suspension of the HIV & AIDS program in Yambio due to funding cuts from the United States, leaving thousands of vulnerable individuals uncertain about their future.“The program was halted following decisions from the United States. I spoke with the program director of CMMB Yambio, and they assured me that discussions are ongoing. We expect to receive further updates soon,” said Health Minister James Abdallah Arona to the local press.The Minister expressed concern about the impact of the decision, emphasizing that the program was heavily reliant on international donors, including USAID and Sweden. “If funding stops, people will suffer. I urge the national government and our partners to engage donors to ensure continued support for our vulnerable population,” said Arona.According to reports, the HIV/AIDS prevalence in Western Equatoria is 6.8%. This is higher than the prevalence in the other states of the greater Equatoria region, which are Central Equatoria (3.1%) and Eastern Equatoria (4.0%).“We were instructed to halt all ongoing services. Before closing, we informed all county health departments about the development,” said the Prevention of Mother-to-Child Transmission (PMTCT) clinician from CMMB Yambio, Henry Biata Nzari. “The government must act swiftly to prevent further suffering. The community is highly vulnerable, and the impact of this suspension could be devastating,” he stressed.USAID was founded in 1961 with the aim of fighting global poverty, providing humanitarian assistance to countries affected by conflict or health emergencies, and supporting the development of democratic societies by improving their potential. Since the 1980s, USAID has worked in the areas of food security, the right to education and humanitarian assistance, focusing on combating the spread of pandemic threats and diseases such as HIV and malaria, as well as supporting maternal and child health. (AP) (Agenzia Fides, 5/2/2025)
    Share:

    MIL OSI Europe News

  • MIL-OSI Banking: Statement of the Monetary Policy Committee 5 February 2025

    Source: Central Bank of Iceland

    The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.5 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 8.0%. All Committee members voted in favour of the decision.

    MIL OSI Global Banks

  • MIL-OSI: Virtune AB (Publ) launches two new Crypto ETPs on Nasdaq Helsinki

    Source: GlobeNewswire (MIL-OSI)

    Helsinki, February 5th, 2025 – Virtune, a Swedish regulated digital asset manager and issuer of crypto exchange-traded products, today announced the listing of Virtune Avalanche ETP and Virtune Staked Cardano ETP on Nasdaq Helsinki. 

    Virtune recently introduced the first five crypto ETPs in Finland on Nasdaq Helsinki, receiving a strong reception in the Finnish market. The previously listed products include Virtune Bitcoin ETP, Virtune Staked Ethereum ETP, Virtune Staked Solana ETP, Virtune XRP ETP, and Virtune Crypto Altcoin Index ETP. To meet the growing demand from Finnish investors, Virtune has now expanded its offering with two additional crypto ETPs on Nasdaq Helsinki.

    About Virtune Avalanche ETP

    Virtune Avalanche ETP provides exposure to Avalanche. Like all of Virtune’s exchange-traded products, Virtune Avalanche ETP is 100% physically backed and fully collateralized, denominated in EUR for the Finnish investors, available through brokers and banks such as Nordnet.

    Key Information about Virtune Avalanche ETP and what it offers to investors :

    • 1:1 exposure to Avalanche
    • 100% physically backed by AVAX
    • 1.49% annual management fee

    Virtune Avalanche ETP

    • Full name: Virtune Avalanche ETP 
    • Short name: Virtune Avalanche
    • Nasdaq Helsinki Ticker: VIRAVAXE
    • Trading currency: EUR
    • First day of trading: Wednesday 5th of February 2025 
    • ISIN: SE0022050092
    • Stock exchange: Nasdaq Helsinki and Nasdaq Stockholm 

    About Virtune Staked Cardano ETP
    Virtune Staked Cardano ETP provides exposure to Cardano combined with the benefits of staking rewards. Like all of Virtune’s exchange-traded products, Virtune Staked Cardano ETP is 100% physically backed and fully collateralized, is denominated in EUR for the Finnish investors and is available through brokers and banks such as Nordnet.

    Key Information about Virtune Staked Cardano ETP and what it offers to investors :

    • 1:1 exposure to Cardano with 2% extra annual return through staking rewards
    • Staking rewards are added continuously and reflected in the daily price of the ETP
    • 100% physically backed by ADA
    • 1.49% annual management fee

    Virtune Staked Cardano ETP

    • Full name: Virtune Staked Cardano ETP 
    • Short name: Virtune Staked Cardano
    • Ticker: VIRADAE
    • Trading currency: EUR
    • First day of trading: Wednesday 5th of February 2025 
    • ISIN: SE0021630449 
    • Stock exchange: Nasdaq Helsinki and Nasdaq Stockholm

    Christopher Kock, CEO of Virtune:

    “After successfully introducing Finland’s first crypto ETPs on Nasdaq Helsinki two weeks ago, we are pleased to expand our local offering in Finland by announcing the listing of the first Avalanche ETP and Staked Cardano ETP on Nasdaq Helsinki. These innovative products are 100% physically backed, with AVAX and ADA securely stored in cold storage with our custodian, Coinbase. They are accessible to both institutional and retail investors through various brokers and banks.“

    If you, as an (institutional) investor, are interested in meeting with Virtune to discuss the opportunities our ETPs offer for your asset management services or to learn more about Virtune and our ETPs, please do not hesitate to contact us at hello@virtune.com. You can also read more about Virtune and our ETPs at www.virtune.com and register your email address on our website to subscribe to our newsletters, which cover updates on Virtune’s upcoming ETP launches and other news related to digital assets.

    Press contact
    Christopher Kock, CEO Virtune AB (Publ)
    christopher@virtune.com
    +46 70 073 45 64

    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.

    The MIL Network

  • MIL-OSI Economics: Webcast: Statement of the Monetary Policy Committee and publication of Monetary Bulletin 5 February 2025

    Source: Central Bank of Iceland

    A statement of the Monetary Policy Committee was published on the Central Bank of Iceland website Wednesday 5 February 2025 at 08:30 hrs. The Bank’s Monetary Bulletin was published at 08:35 hrs. At 9:30 hrs. a press conference on the statement and the contents of the Monetary Bulletin will be held.

    MIL OSI Economics

  • MIL-OSI: Nokia and Orange France extend long-term partnership with new 5G deal 

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and Orange France extend long-term partnership with new 5G deal 

    • New 5G contract extends companies’ long-standing partnership with upgraded network boosting performance and customer experience.
    • Nokia’s energy-efficiency AirScale equipment portfolio to support Orange France’s sustainability ambitions.
    • Orange France to trial Nokia’s Cloud RAN solutions.

    5 February 2025
    Espoo, Finland – Nokia today announced that it signed a four-year contract extension with Orange France to upgrade its 5G radio infrastructure with Nokia’s energy-efficient AirScale portfolio. The new deal will deliver an enhanced customer experience with best-in-class speeds, capacity, and performance across Orange’s footprint in Southeastern and Western France. Orange will also trial Nokia’s 5G Cloud RAN solutions to assess the transition of its network towards Cloud RAN technology

    Under the deal, Nokia will supply equipment from its industry-leading O-RAN-compliant 5G AirScale portfolio. This includes Nokia’s next-generation industry-leading, high-capacity AirScale baseband solutions, lightweight, and high-output Massive MIMO Habrok radios, and Nokia’s Pandion portfolio of FDD multiband remote radio heads to cover all use cases and deployment scenarios. These are all powered by its energy-efficient ReefShark System-on-Chip technology and combine to provide superior coverage and capacity. Nokia will also supply its AI-powered radio network management solution, MantaRay NM, which supports all radio and mobile core technologies.

    Orange will also trial Nokia’s 5G Cloud RAN solutions. Nokia is helping its global customers to seamlessly transition to Cloud RAN technology with future-proof solutions that drive innovation for CSPs and enterprises. Nokia’s comprehensive anyRAN approach provides the best choice of strategic options for their RAN evolution with purpose-built, hybrid, or Cloud RAN solutions, enabling customers to evolve their networks and continue to deliver maximum field performance.

    Emmanuel Lugagne Delpon, CTO at Orange France, commented: “This new contract extension with Nokia and their industry-leading equipment portfolio will support our pioneering efforts to drive superior customer experience further, reduce our environmental footprint, and make our network as energy efficient as possible.”

    Tommi Uitto, President of Mobile Networks at Nokia, said: “We are excited to continue our long-standing partnership with Orange France and contribute positively towards their network performance, sustainability goals, and commitment to net carbon neutrality. Our industry-leading, energy-efficient AirScale portfolio and AI-powered MantaRay network management solution will enhance Orange’s network performance and deliver premium connectivity experiences to Orange customers.”

    Resources
    Webpage: Nokia Cloud RAN
    Product page: Nokia anyRAN
    Product page: Nokia AirScale Baseband
    Product page: MantaRay NM

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network

  • MIL-OSI: Alm. Brand A/S – Interim report Q4 2024

    Source: GlobeNewswire (MIL-OSI)

    Highly satisfactory Q4 performance

    • The insurance service result for Q4 2024 was a profit of DKK 440 million (Q4 2023: DKK 287 million), equivalent to a combined ratio of 84.5 (Q4 2023: 89.3), driven by favourable developments both in Personal Lines and Commercial Lines
    • Insurance revenue grew by 6.2% to DKK 2,845 million (Q4 2023: DKK 2,680 million), driven by sustained strong premium growth of 7.2% in Personal Lines and premium growth of 5.1% in Commercial Lines
    • The undiscounted underlying claims ratio fell by 1.9 percentage points to 63.8% (Q4 2023: 65.7%), driven by the effects of profitability-enhancing measures in Personal Lines
    • The expense ratio fell to 18.0 (Q4 2023: 19.0), and the implementation of synergy initiatives generated a positive accounting effect of DKK 138 million in Q4 2024 (Q4 2023: DKK 75 million)
    • Satisfactory investment result of DKK 74 million (Q4 2023: DKK 140 million)

    Full-year performance

    • The insurance service result for 2024 was DKK 1,443 million (2023: DKK 1,215 million), equivalent to a combined ratio of 87.0 (2023: 88.4), which was better than the most recently announced full-year guidance and driven in particular by a lower level of major claims
    • The expense ratio dropped to 18.3 in 2024 (2023: 19.0) in line with our plans to reach the targets set by end-2025.  
    • The consolidated profit before tax and excluding special costs for continuing activities was DKK 1,747 million in 2024 (2023: DKK 1,447 million)
    • For 2025, Alm. Brand Group expects to report an insurance service result of DKK 1.5-1.7 billion excluding run-off gains or losses, an expense ratio of about 17% and a combined ratio of about 85.5-87.5 in line with the targets set in 2022
    • The Board of Directors recommends that an ordinary dividend of DKK 0.6 per share be paid in respect of the 2024 financial year. Alm. Brand Group is furthermore launching a new DKK 100 million share buyback programme related to the profit for 2024, corresponding to a payout ratio of 96% of the adjusted profit after tax including the already completed share buyback programme of DKK 150 million
    • Alm. Brand Group still expects to distribute DKK 1.6 billion related to the divestment of the Energi & Marine business in the form of a share buyback programme to be launched upon closing of the transaction
    • At 31 December 2024, Alm. Brand Group had an SCR ratio of 181% after deduction of the total amount distributed in respect of 2024

    CEO Rasmus Werner Nielsen is pleased with the performance:

    “Seen overall, 2024 was a year in which many people in Denmark needed their insurance company. We helped process claims from more than 430,000 of our customers. In particular, motor-related and travel insurance claims gave rise to many enquiries, whereas weather-related events were not as dramatic as in 2023.

    We’re pleased that more and more people choose to become customers of Alm. Brand Group, and we’re extremely satisfied with the financial results we generated in the final quarter of the year, which marked a strong finish to the year. The strong performance underlines the strength of our large, Denmark-based group. We’re entering 2025 in good shape, and we’re well on the way to realising the targets we set for the merger of Codan and Alm. Brand.”

    This interim report and related materials are available at Alm. Brand Group’s investor website: Q4 2024

    Webcast and conference call
    Alm. Brand will host a conference call for investors and analysts today, Wednesday 5 February 2025 at 11:00 a.m. The conference call and presentation will be available on Alm. Brand Group’s investor website:

    Conference call dial-in numbers for investors and analysts (pin: 551812):

    United Kingdom: +44 20 3936 2999
    USA: +1 646 664 1960
    Denmark: +45 89 87 50 45

    Link to webcast: https://events.q4inc.com/attendee/748881636

    Contact
    Please direct any questions regarding this announcement to:

    Investors and equity analysts:                 

    Head of IR, Rating & ESG Reporting                
    Mads Thinggaard                 
    Mobile no. +45 2025 5469                

    Press:        

    Media Relations Manager
    Mikkel Luplau Schmidt
    Mobile no. +45 2052 3883

    Attachments

    The MIL Network

  • MIL-OSI China: Sweden’s worst mass shooting in history kills 10 at school

    Source: China State Council Information Office

    This is a screenshot captured from the video of the Swedish government’s press conference held on the evening of Feb. 4, 2025. Swedish Prime Minister Ulf Kristersson is speaking to the press. [Photo/Xinhua]

    The school shooting in central Sweden’s Orebro is the worst mass shooting in the country’s history, Swedish Prime Minister Ulf Kristersson said at a press conference late Tuesday.

    Swedish police confirmed on Tuesday evening that around ten people were killed in the shooting, which took place at noon at Risbergska Skolan, an education center, in Orebro. The shooter suspect is among the deceased, according to the police.

    While investigation and further search are ongoing, authorities said the exact number of the victims remained unclear. However, initial findings indicate that the suspect acted alone, and police have ruled out terrorism as a motive.

    Kristersson urged the public to refrain from speculation, emphasizing that authorities must be given space to conduct their investigation.

    “The Swedish public wants to know the reasons, but will have to wait for the answers,” said Swedish Minister of Justice Gunnar Strommer at the press conference. “With time, the picture will clear up.”

    King Carl XVI Gustaf expressed his condolences in a statement, describing the day as a “black day” for Sweden. He extended his sympathies to the families and friends of the victims and the injured, and expressed appreciation for the efforts of police, rescue and healthcare workers.

    Risbergska Skolan mainly serves adults over the age of 20, while also offering primary and secondary school courses and Swedish language classes for immigrants. The city of Orebro is located about 200 km west of Stockholm.

    Speaking to Swedish Radio (SR), local school security specialist Lena Ljungdahl said that while armed violence in schools has been extremely rare in Sweden, violence has escalated outside the educational institutions, including multiple shootings near schools in recent years.

    “I have expected this. Schools are not an isolated place. What happens outside will sooner or later happen inside schools,” Ljungdahl said.

    Mats Knutson, a political analyst of SR, highlighted that the shooting occurred amid years of escalating armed violence in Sweden, with the past few months witnessing an unprecedented number of explosions.

    Sweden is now in a crisis situation, and it is the government’s responsibility to unify the nation, Knutson said.

    MIL OSI China News

  • MIL-OSI China: Cultural vibes eagerly embraced by holiday travelers

    Source: China State Council Information Office 3

    Residents watch a dragon dance performance in Xinghua, Jiangsu province, on Sunday during Spring Festival celebrations. Various events, including folk activities and intangible cultural heritage displays, have been held across China to celebrate Spring Festival. [Zhou Shegen / XINHUA]

    Surrounded by crowds and patting the head of a fish-shaped lantern for good luck, 27-year-old Tian Jialiang immersed himself in the rich, festive vibes of Spring Festival in Zhanqi village of Shexian, Anhui province.

    Tian, who is a native of Nanchang in the neighboring province of Jiangxi, was on a four-day self-driving tour to Huangshan, Anhui, with four friends.

    “Spring Festival is one of the most important traditional holidays to the Chinese people. We came here for the village’s strong new year atmosphere and celebrations, where the performers mimic fishes’ movements to bring good luck and fortune. I think it is the essence of the festival,” Tian said.

    Spring Festival, which was added to UNESCO’s Intangible Cultural Heritage list in December, has seen people’s passion skyrocket for tourism destinations highlighting cultural vibes or folk customs.

    This year’s Spring Festival fell on Jan 29, the first day of the first month of the Chinese calendar, and marked the beginning of the Year of the Snake. People in China enjoyed an eight-day break, from Jan 28 to Tuesday.

    Reports from travel agencies showed that cultural tourism destinations were in vogue during the holiday.

    Travel portal Qunar said that cities with festive celebrations or folk customs, including Huangshan in Anhui, Chaozhou and Shantou in Guangdong province, and Quanzhou in Fujian province, were among the most sought-after destinations by its users during the holiday. These places are well known for folk events, including fish-shaped lantern shows, lion dances and hairpin flowers.

    Huangshan saw its hotel room bookings double year-on-year during the holiday.

    Another travel portal, Fliggy, said travelers have shown an increasing interest in immersive tourism events featuring Chinese cultural elements, including visiting temple fairs, wearing traditional Chinese hanfu attire for photo shoots, and appreciating lantern shows. It said that sales of tourism products related to folk custom performances grew 36 percent year-on-year on its platform.

    Liu Gengshuo, 30, who is from the northeastern province of Jilin, booked photo-shooting services featuring traditional hanfu clothing for his wife in Datong, Shanxi province, for the Spring Festival holiday.

    “It has long been our wish to embrace Chinese New Year in Datong, a city that enjoys a long-standing history and is home to much historical architecture, including temples,” Liu said. “The city is filled with a festive atmosphere and beautiful decorations. We will come again for another visit.”

    Qi Chunguang, vice-president of online travel agency Tuniu, said the addition of Spring Festival to UNESCO’s Intangible Cultural Heritage list has greatly increased people’s enthusiasm for traditional Chinese culture, and this turned places with intangible cultural events into hot tourism destinations over the holiday period.

    Some history and culture museums have also been popular, Qi said.

    “People have shown great demand and interest in high-quality travels, as they wish to explore the destination’s cultural and social practices with immersive events. I think the trend will keep the tourism industry developing this year,” he said.

    Chinese travelers also showed strong consumption power and a desire for overseas tourism destinations during the Spring Festival holiday. Figures from Fliggy showed that international cruise bookings surged 229 percent at its platform for the holiday period, and overseas destinations such as the Hong Kong and Macao special administrative regions, as well as countries in Southeast Asia, were top choices for people from the Chinese mainland.

    Cai Muzi, an analyst at travel portal Qunar, said that Thailand continues to rank near the top of Chinese people’s favorite overseas destinations because of the shorter travel hours, visa-free policy, milder climate and cheaper travel costs.

    According to Qunar, Chinese travelers set foot in more than 2,100 cities worldwide during the holiday, with the number increasing 50 percent year-on-year. In addition to Southeast Asian countries and regions, destinations in Europe, the Middle East and Africa, ranging from Hungary and Norway to Saudi Arabia and Egypt, saw an increase in tourism visits by Chinese.

    MIL OSI China News

  • MIL-OSI: Bitdeer Announces Strategic Acquisition of 101 MW Site and Gas-fired Power Project in Alberta to Deliver the Industry’s First Fully-Vertically Integrated Bitcoin Mining Site

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 04, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced the successful close of the acquisition of a fully licensed and permitted 101 MW site and gas-fired power project situated on 19 acres of land near Fox Creek, Alberta in an all-cash transaction for $21.7 million. The site has potential to scale to 1 GW of power, reflecting Alberta’s abundant energy resources, supportive regulatory posture and pro-business environment.

    The 101 MW gas-fired power project includes all permits and licenses required to construct an on-site natural gas power plant, as well as approval for a 99 MW grid interconnection with Alberta Electric System Operator (“AESO”). Bitdeer will develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (“EPC”) company and is expected to be energized by Q4 2026.

    Concurrently, the Company plans to build 99 MW of datacenter capacity for Bitcoin mining. This newly acquired site and power generation project provides the Company a unique opportunity to become the world’s first fully-vertically integrated Bitcoin miner at scale and potentially achieve some of the lowest Bitcoin mining production costs in the industry.

    Strategic Benefits

    • Full vertical integration: The Company will have control of the land, power generation, electrical and datacenter infrastructure as well as using its own internally developed and manufactured Bitcoin mining machines. The Company can deploy approximately [9] EH/s of its SEALMINER A3 mining machines upon completion, which are anticipated to have industry leading machine-level efficiency of 11-12 J/TH.
    • Low Power Costs: Projected energy production costs of approximately $20 to $25 per MWh1, based on current gas prices.
    • Sustainability & Potential Carbon Credit Upside: As part of the project acquisition, Bitdeer will deploy a carbon utilization system that captures CO2 making the project a net zero carbon producer. This initiative aims to offset Canada’s carbon tax obligations and may generate future revenue through carbon credits.
    • Energy Cost Optimization & Revenue Flexibility: The Company expects to curtail and sell power back to the Alberta grid to stabilize prices during periods of high demand. The Company estimates this could potentially optimize costs even further.

    “We are really excited about planting roots in Alberta, our first site in Canada. This acquisition is the culmination of extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium. It marks a significant step in our strategy to become the first fully-vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability,” said Haris Basit, Chief Strategy Officer at Bitdeer. “By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics.”

    Regarding the project, Danielle Smith, Premier of Alberta said, “We are so pleased to welcome the world’s first net-zero, fully integrated off-grid Bitcoin mining facility — right here in Alberta. Today’s investment is another sign that Alberta continues to be a leader in technology and innovation not only across the country, but across the world. If you want to do business and have a plan to bring your own power, then Alberta is the place for you.”

    Estimated Costs and Development Timeline
    The Company plans to commence site preparation and initial infrastructure development in Q2 2025 and energization in Q4 2026.

    Asset Actual and Estimated Costs
    101 MW Fox Creek Site and 19-acre land near Fox Creek, Alberta $21.7 million cash
    Gas-fired power plant ~$90 million
    Electrical & datacenter infrastructure $300K per MW or ~$30 million
     

    About Bitdeer Technologies Group
    Bitdeer is a world-leading technology company for blockchain and high-performance computing industry. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

    Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

    Forward-Looking Statements
    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerIR@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com


    1 Assumes natural gas costs of ~$2.06 / GJ, plus regular maintenance and O&M

    The MIL Network

  • MIL-OSI United Kingdom: PM meeting with Prime Minister Frederiksen of Denmark: 4 February 2025

    Source: United Kingdom – Executive Government & Departments

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The leaders reflected on the EU Council dinner last night, and the Prime Minister said he was pleased to have been able to set out his vision for a closer UK and EU relationship that would benefit all sides through greater growth and enhanced defence and security cooperation.

    Both agreed on the need to strengthen European defence capabilities, including through NATO.

    Turning to security in the High North and Arctic region, the Prime Minister paid tribute to the important role Denmark was playing and welcomed their recent announcement of a new military package to defend the Arctic from hostile activity. 

    Both leaders agreed to step up joint cooperation to address threats in the Arctic and High North, working with allies through NATO and JEF Partners. 

    Turning to Ukraine, the Prime Minister welcomed the Danish Prime Minister’s reflections on the current battlefield situation and the leaders underscored the importance of supporting Ukraine’s forces for the long term, putting them in the strongest possible position.

    The Prime Minister welcomed Denmark’s upcoming presidency of the Council of the European Union, adding he looked forward to working closely with Prime Minister Frederiksen during this time, including on the shared challenge of migration.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press release: PM meeting with Prime Minister Frederiksen of Denmark: 4 February 2025

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The leaders reflected on the EU Council dinner last night, and the Prime Minister said he was pleased to have been able to set out his vision for a closer UK and EU relationship that would benefit all sides through greater growth and enhanced defence and security cooperation.

    Both agreed on the need to strengthen European defence capabilities, including through NATO.

    Turning to security in the High North and Arctic region, the Prime Minister paid tribute to the important role Denmark was playing and welcomed their recent announcement of a new military package to defend the Arctic from hostile activity. 

    Both leaders agreed to step up joint cooperation to address threats in the Arctic and High North, working with allies through NATO and JEF Partners. 

    Turning to Ukraine, the Prime Minister welcomed the Danish Prime Minister’s reflections on the current battlefield situation and the leaders underscored the importance of supporting Ukraine’s forces for the long term, putting them in the strongest possible position.

    The Prime Minister welcomed Denmark’s upcoming presidency of the Council of the European Union, adding he looked forward to working closely with Prime Minister Frederiksen during this time, including on the shared challenge of migration.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: Answer to a written question – Irish fishing industry – E-002736/2024(ASW)

    Source: European Parliament

    The Commission represents the EU in coastal States consultations with Norway, the Faroe Islands, and others, in line with the EU position approved by the Council and in coordination with Member States. The focus is on sustainable, equitable mackerel stock management. The Commission urges collective quotas aligned with scientific advice, addressing the stock’s critical state caused by excessive unilateral quotas.

    The Commission is also exploring options to reinforce its sustainability tools, for instance, by clarifying the scope of application of Regulation 1026/2012[1] for the conservation of fish stocks in relation to countries allowing non-sustainable fishing, which is subject to an ongoing ordinary legislative procedure.

    The total quota of Ireland for 2025 including transfers from the North Sea TAC (total allowable catches) amounts to 39 914 tonnes, agreed in line with the advice from the International Council for the Exploration of the Sea for a 22% decrease. Ireland’s quota has decreased proportionately less than that of other Member States by virtue of the Council decision to grant Ireland a preferential treatment on mackerel (so-called Hague preferences)[2].

    Ireland was a main beneficiary of the EU support through the Brexit Adjustment Reserve until the end of 2023. Currently, Ireland’s fishers and coastal communities may benefit from the European Maritime, Fisheries and Aquaculture Fund (EMFAF) to modernise the fishing fleet, diversify income sources, and enable a sustainable blue economy in the affected communities.

    • [1] Commission proposal of 13 September 2024 to amend Regulation (EU) No 1026/2012 of the European Parliament and of the Council of 25 October 2012 on certain measures for the purpose of the conservation of fish stocks in relation to countries allowing non-sustainable fishing OJ L 316 COM(2024) 407 final.
    • [2] Annex VII to Council Resolution of 3 November 1976 (‘The Hague Resolution’).
    Last updated: 4 February 2025

    MIL OSI Europe News

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

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million and diluted earnings per share was $0.29. On a non-GAAP(*) basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion and diluted earnings per share was $1.09.

    For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP(*) basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion and diluted earnings per share was $3.31.

    “2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth,” said AMD Chair and CEO Dr. Lisa Su. “Data Center segment annual revenue nearly doubled as EPYC processor adoption accelerated and we delivered more than $5 billion of AMD Instinct accelerator revenue. Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing.”

    “We closed 2024 with a strong fourth quarter, delivering record revenue up 24% year-over-year, and accelerated earnings expansion while investing aggressively in AI and innovation to position us for long-term growth and value creation,” said AMD EVP, CFO and Treasurer Jean Hu.

    GAAP Quarterly Financial Results

      Q4 2024 Q4 2023 Y/Y Q3 2024 Q/Q
    Revenue ($M) $7,658 $6,168 Up 24% $6,819 Up 12%
    Gross profit ($M) $3,882 $2,911 Up 33% $3,419 Up 14%
    Gross margin 51% 47% Up 4 ppts 50% Up 1%
    Operating expenses ($M) $3,022 $2,575 Up 17% $2,709 Up 12%
    Operating income ($M) $871 $342 Up 155% $724 Up 20%
    Operating margin 11% 6% Up 5 ppts 11% Flat
    Net income ($M) $482 $667 Down 28% $771 Down 37%
    Diluted earnings per share $0.29 $0.41 Down 29% $0.47 Down 38%

    Non-GAAP(*) Quarterly Financial Results

      Q4 2024 Q4 2023 Y/Y Q3 2024 Q/Q
    Revenue ($M) $7,658 $6,168 Up 24% $6,819 Up 12%
    Gross profit ($M) $4,140 $3,133 Up 32% $3,657 Up 13%
    Gross margin 54% 51% Up 3 ppts 54% Flat
    Operating expenses ($M) $2,125 $1,727 Up 23% $1,956 Up 9%
    Operating income ($M) $2,026 $1,412 Up 43% $1,715 Up 18%
    Operating margin 26% 23% Up 3 ppts 25% Up 1 ppt
    Net income ($M) $1,777 $1,249 Up 42% $1,504 Up 18%
    Diluted earnings per share $1.09 $0.77 Up 42% $0.92 Up 18%

    Annual Financial Results

      GAAP Non-GAAP(*)
       2024   2023  Y/Y  2024   2023  Y/Y
    Revenue ($M) $25,785 $22,680 Up 14% $25,785 $22,680 Up 14%
    Gross profit ($M) $12,725 $10,460 Up 22% $13,759 $11,436 Up 20%
    Gross margin % 49% 46% Up 3 ppts 53% 50% Up 3 ppts
    Operating expenses ($M) $10,873 $10,093 Up 8% $7,669 $6,616 Up 16%
    Operating income ($M) $1,900 $401 Up 374% $6,138 $4,854 Up 26%
    Operating margin % 7% 2% Up 5 ppts 24% 21% Up 3 ppts
    Net income ($M) $1,641 $854 Up 92% $5,420 $4,302 Up 26%
    Diluted earnings per share $1.00 $0.53 Up 89% $3.31 $2.65 Up 25%

    Segment Summary

    • Data Center segment revenue in the quarter was a record $3.9 billion, up 69% year-over-year primarily driven by the strong ramp of AMD Instinct™ GPU shipments and growth in AMD EPYC™ CPU sales.  
      • For 2024, Data Center segment revenue was a record $12.6 billion, an increase of 94% compared to the prior year, driven by growth in both AMD Instinct and EPYC processors.
    • Client segment revenue in the quarter was a record $2.3 billion, up 58% year-over-year primarily driven by strong demand for AMD Ryzen™ processors.
      • For 2024, Client segment revenue was a record $7.1 billion, up 52% compared to the prior year, due to strong demand for AMD Ryzen processors in desktop and mobile.
    • Gaming segment revenue in the quarter was $563 million, down 59% year-over-year, primarily due to a decrease in semi-custom revenue.
      • For 2024, Gaming segment revenue was $2.6 billion, down 58% compared to the prior year, primarily due to a decrease in semi-custom revenue.
    • Embedded segment revenue in the quarter was $923 million, down 13% year-over-year, as end market demand continues to be mixed.
      • For 2024, Embedded segment revenue was $3.6 billion, down 33% from the prior year, primarily due to customers normalizing their inventory levels.

    Recent PR Highlights

    • AMD continues expanding its partnerships to deliver highly performant AI infrastructure at scale:
      • IBM announced plans to deploy AMD Instinct MI300X accelerators to power generative AI and HPC applications on IBM Cloud.
      • Vultr and AMD announced a strategic collaboration to leverage AMD Instinct MI300X accelerators and AMD ROCm™ open software to power Vultr’s cloud infrastructure for enterprise AI development and deployment.
      • Aleph Alpha announced that it will leverage AMD Instinct MI300 Series accelerators and ROCm software to enable its tokenizer-free LLM architecture, a new approach to generative AI that aims to simplify the development of sovereign AI solutions for governments and enterprises.
      • Fujitsu and AMD announced a strategic partnership to develop more sustainable computing infrastructure to accelerate open source AI.
      • AMD expanded strategic investments to advance the AI ecosystem and solutions, including investments in LiquidAI, Vultr and Absci.
    • AMD is accelerating its AI software roadmap to deliver a robust open AI stack for the ecosystem:
      • AMD released ROCm 6.3 with numerous performance enhancements enabling faster inferencing on AMD Instinct accelerators as well as additional compiler tools and libraries.
      • AMD shared an update on its 2025 plans for the ROCm software stack to enable easier adoption of and improved out of box support for both inferencing and training applications.
    • Dell and AMD announced that AMD Ryzen AI PRO processors will power new Dell Pro notebook and desktop PCs, bringing exceptional battery life, on-device AI, Copilot+ experiences and dependable productivity to enterprise users. For the first time, Dell will offer a full portfolio of commercial PCs based on Ryzen processors, marking a significant milestone in the companies’ collaboration.
    • AMD expanded its broad consumer and commercial AI PC portfolio:
      • New AMD Ryzen AI Max and Ryzen AI Max PRO Series processors deliver workstation-level performance and next-gen AI performance for gaming, content creation and complex AI-accelerated workloads.
      • Expanded Ryzen AI 300 and Ryzen AI 300 PRO Series processors bring premium AI capabilities to mainstream and entry-level notebooks, as well as enhanced security, manageability and support for Microsoft Copilot+ experiences tailored for business users.
      • Additional Ryzen 200 and Ryzen 200 PRO Series processors offer incredible AI experiences, performance and battery life for everyday users and professionals.
      • More than 150 Ryzen AI platforms are expected to be available from leading OEMs this year.
    • AMD extended its leadership in high performance computing (HPC), enabling the most powerful and many of the most energy efficient supercomputers in the world:
      • The El Capitan supercomputer at Lawrence Livermore National Laboratory became the second AMD supercomputer to surpass the exascale barrier, placing #1 on the latest Top500 list.
      • The Hunter supercomputer at the High-Performance Computing Center of the University of Stuttgart (HLRS), powered by AMD Instinct MI300A APUs, began service, delivering HPC and AI resources for scientists, researchers, industry and the public sector.
      • AMD EPYC processors and AMD Instinct accelerators power many new supercomputing projects and AI deployments, including the Eni HPC 6 system, the University of Paderborn’s latest supercomputer and the Sigma2 AS system which is slated to be the fastest system in Norway.
    • AMD powers incredible experiences for gamers across a broad range of devices:
      • At CES 2025, AMD announced new AMD Ryzen 9000X3D, Ryzen Z2 and Ryzen 9000HX processors, extending its leadership in desktop, mobile and handheld gaming.
      • AMD shared the latest version of AMD Software: Adrenalin Edition™, 24.9.1, continuing to enhance gaming experiences with AMD Fluid Motion Frames 2 and AMD HYPR-RX.
    • AMD continues to deliver leadership compute performance and capabilities at the edge with an expanded portfolio of solutions:
      • New AMD Versal™ Gen 2 portfolio with next-generation interface and memory technologies for data-intensive applications in the data center, communications, test and measurement and aerospace and defense markets.
      • AMD Versal RF Series adaptive SoCs, combining high-resolution radio frequency data converters, dedicated DSP hard IP, AI engines and programmable logic in a single chip.
      • Vodafone and AMD announced they are collaborating on mobile base station silicon chip designs to enable higher-capacity AI and digital services.

    Current Outlook

    AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

    For the first quarter of 2025, AMD expects revenue to be approximately $7.1 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 30% and a sequential decline of approximately 7%. Non-GAAP gross margin is expected to be approximately 54%.

    AMD Teleconference
    AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter and full year 2024 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in millions, except per share data) (Unaudited)

      Three Months Ended   Year Ended
      December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    GAAP gross profit $ 3,882     $ 3,419     $ 2,911     $ 12,725     $ 10,460  
    GAAP gross margin   51 %     50 %     47 %     49 %     46 %
    Stock-based compensation   6       5       6       22       30  
    Amortization of acquisition-related intangibles   252       233       215       946       942  
    Acquisition-related and other costs (1)               1       1       4  
    Inventory loss at contract manufacturer (2)                     65        
    Non-GAAP gross profit $ 4,140     $ 3,657     $ 3,133     $ 13,759     $ 11,436  
    Non-GAAP gross margin   54 %     54 %     51 %     53 %     50 %
                       
    GAAP operating expenses $ 3,022     $ 2,709     $ 2,575     $ 10,873     $ 10,093  
    GAAP operating expenses/revenue %   39 %     40 %     42 %     42 %     45 %
    Stock-based compensation   333       346       368       1,385       1,350  
    Amortization of acquisition-related intangibles   332       352       420       1,448       1,869  
    Acquisition-related and other costs (1)   46       55       60       185       258  
    Restructuring charges (3)   186                   186        
    Non-GAAP operating expenses $ 2,125     $ 1,956     $ 1,727     $ 7,669     $ 6,616  
    Non-GAAP operating expenses/revenue %   28 %     29 %     28 %     30 %     29 %
                       
    GAAP operating income $ 871     $ 724     $ 342     $ 1,900     $ 401  
    GAAP operating margin   11 %     11 %     6 %     7 %     2 %
    Stock-based compensation   339       351       374       1,407       1,380  
    Amortization of acquisition-related intangibles   584       585       635       2,394       2,811  
    Acquisition-related and other costs (1)   46       55       61       186       262  
    Inventory loss at contract manufacturer (2)                     65        
    Restructuring charges (3)   186                   186        
    Non-GAAP operating income $ 2,026     $ 1,715     $ 1,412     $ 6,138     $ 4,854  
    Non-GAAP operating margin   26 %     25 %     23 %     24 %     21 %
      Three Months Ended
      Year Ended
      December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    GAAP net income / earnings per share $ 482     $ 0.29     $ 771     $ 0.47     $ 667     $ 0.41     $ 1,641     $ 1.00     $ 854     $ 0.53  
    (Gains) losses on equity investments, net               (1 )           1             2             (1 )      
    Stock-based compensation   339       0.21       351       0.21       374       0.23       1,407       0.86       1,380       0.85  
    Equity income in investee   (12 )     (0.01 )     (7 )           (6 )           (33 )     (0.02 )     (16 )     (0.01 )
    Amortization of acquisition-related intangibles   584       0.36       585       0.36       635       0.39       2,394       1.46       2,811       1.73  
    Acquisition-related and other costs (1)   46       0.03       56       0.03       61       0.04       187       0.11       262       0.16  
    Inventory loss at contract manufacturer (2)                                       65       0.04              
    Restructuring charges (3)   186       0.11                               186       0.11              
    Income tax provision   152       0.10       (251 )     (0.15 )     (483 )     (0.30 )     (429 )     (0.25 )     (988 )     (0.61 )
    Non-GAAP net income / earnings per share $ 1,777     $ 1.09     $ 1,504     $ 0.92     $ 1,249     $ 0.77     $ 5,420     $ 3.31     $ 4,302     $ 2.65  
    (1 )   Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, contract termination costs and workforce rebalancing charges.
    (2 )   Inventory loss at contract manufacturer is related to an incident at a third-party contract manufacturing facility.
    (3 )   Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments.
           

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.

    Cautionary Statement

    This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the opportunities for continued growth based on AMD’s product portfolio and growing demand for high-performance and adaptive computing; AMD’s ability to position itself for long-term growth and value creation; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected first quarter 2025 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; Nvidia’s dominance in the graphics processing unit market and its aggressive business practices; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD’s business; impact of government actions and regulations such as export regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD’s business and AMD’s ability to integrate acquired businesses; our ability to complete the acquisition of ZT Systems;  impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain qualified personnel; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

    (*) In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue%, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2024, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provided adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of February 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD’s control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.

    © 2025 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc.

    ADVANCED MICRO DEVICES, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Millions except per share amounts and percentages) (Unaudited)

      Three Months Ended   Year Ended
      December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    Net revenue $ 7,658     $ 6,819     $ 6,168     $ 25,785     $ 22,680  
    Cost of sales   3,524       3,167       3,042       12,114       11,278  
    Amortization of acquisition-related intangibles   252       233       215       946       942  
    Total cost of sales   3,776       3,400       3,257       13,060       12,220  
    Gross profit   3,882       3,419       2,911       12,725       10,460  
    Gross margin   51 %     50 %     47 %     49 %     46 %
    Research and development   1,712       1,636       1,511       6,456       5,872  
    Marketing, general and administrative   792       721       644       2,783       2,352  
    Amortization of acquisition-related intangibles   332       352       420       1,448       1,869  
    Licensing gain   (11 )     (14 )     (6 )     (48 )     (34 )
    Restructuring charges   186                   186        
    Operating income   871       724       342       1,900       401  
    Interest expense   (19 )     (23 )     (27 )     (92 )     (106 )
    Other income (expense), net   37       36       49       181       197  
    Income before income taxes and equity income   889       737       364       1,989       492  
    Income tax provision (benefit)   419       (27 )     (297 )     381       (346 )
    Equity income in investee   12       7       6       33       16  
    Net income $ 482     $ 771     $ 667     $ 1,641     $ 854  
    Earnings per share                  
    Basic $ 0.30     $ 0.48     $ 0.41     $ 1.01     $ 0.53  
    Diluted $ 0.29     $ 0.47     $ 0.41     $ 1.00     $ 0.53  
    Shares used in per share calculation                  
    Basic   1,623       1,620       1,616       1,620       1,614  
    Diluted   1,634       1,636       1,628       1,637       1,625  

    ADVANCED MICRO DEVICES, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Millions)

      December 28,
    2024
      December 30,
    2023
      (Unaudited)    
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 3,787     $ 3,933  
    Short-term investments   1,345       1,840  
    Accounts receivable, net   6,192       4,323  
    Inventories   5,734       4,351  
    Receivables from related parties   113       9  
    Prepaid expenses and other current assets   1,878       2,312  
    Total current assets   19,049       16,768  
    Property and equipment, net   1,802       1,589  
    Operating lease right-of-use assets   623       633  
    Goodwill   24,839       24,262  
    Acquisition-related intangibles, net   18,930       21,363  
    Investment: equity method   149       99  
    Deferred tax assets   688       366  
    Other non-current assets   3,146       2,805  
    Total Assets $ 69,226     $ 67,885  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities:      
    Accounts payable $ 1,990     $ 2,055  
    Payables to related parties   476       363  
    Accrued liabilities   4,260       3,082  
    Current portion of long-term debt, net         751  
    Other current liabilities   555       438  
    Total current liabilities   7,281       6,689  
    Long-term debt, net of current portion   1,721       1,717  
    Long-term operating lease liabilities   491       535  
    Deferred tax liabilities   349       1,202  
    Other long-term liabilities   1,816       1,850  
           
    Stockholders’ equity:      
    Capital stock:      
    Common stock, par value   17       17  
    Additional paid-in capital   61,362       59,676  
    Treasury stock, at cost   (6,106 )     (4,514 )
    Retained earnings   2,364       723  
    Accumulated other comprehensive loss   (69 )     (10 )
    Total stockholders’ equity   57,568       55,892  
    Total Liabilities and Stockholders’ Equity $ 69,226     $ 67,885  

    ADVANCED MICRO DEVICES, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Millions) (Unaudited)

      Three Months Ended   Year Ended
      December 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    Cash flows from operating activities:              
    Net income $ 482     $ 667     $ 1,641     $ 854  
    Adjustments to reconcile net income to net cash provided by operating activities:              
    Depreciation and amortization   172       164       671       642  
    Amortization of acquisition-related intangibles   583       635       2,393       2,811  
    Stock-based compensation   339       374       1,407       1,384  
    Amortization of operating lease right-of-use assets   31       25       113       98  
    Deferred income taxes   (300 )     (219 )     (1,163 )     (1,019 )
    Inventory loss at contract manufacturer               65        
    Other   62       (23 )     12       (54 )
    Changes in operating assets and liabilities              
    Accounts receivable, net   96       (379 )     (1,865 )     (1,339 )
    Inventories   (362 )     94       (1,458 )     (580 )
    Prepaid expenses and other assets   494       (34 )     343       (383 )
    Receivables from and payables to related parties, net   30       29       108       (107 )
    Accounts payable   (585 )     (181 )     (109 )     (419 )
    Accrued and other liabilities   257       (771 )     883       (221 )
    Net cash provided by operating activities   1,299       381       3,041       1,667  
    Cash flows from investing activities:              
    Purchases of property and equipment   (208 )     (139 )     (636 )     (546 )
    Purchases of short-term investments   (786 )     (410 )     (1,493 )     (3,722 )
    Proceeds from maturity of short-term investments   65       770       1,416       2,687  
    Proceeds from sale of short-term investments   25       52       616       300  
    Acquisitions, net of cash acquired         (117 )     (548 )     (131 )
    Related party equity method investment               (17 )      
    Issuance of loan to related party   (100 )           (100 )      
    Purchase of strategic investments   (210 )     (6 )     (341 )     (11 )
    Other               2        
    Net cash provided by (used in) investing activities   (1,214 )     150       (1,101 )     (1,423 )
    Cash flows from financing activities:              
    Repayment of debt               (750 )      
    Proceeds from sales of common stock through employee equity plans   127       120       279       268  
    Repurchases of common stock   (256 )     (233 )     (862 )     (985 )
    Common stock repurchases for tax withholding on employee equity plans   (42 )     (45 )     (728 )     (427 )
    Other         (1 )     (1 )     (2 )
    Net cash used in financing activities   (171 )     (159 )     (2,062 )     (1,146 )
    Net increase (decrease) in cash, cash equivalents and restricted cash   (86 )     372       (122 )     (902 )
    Cash, cash equivalents and restricted cash at beginning of period   3,897       3,561       3,933       4,835  
    Cash, cash equivalents and restricted cash at end of period $ 3,811     $ 3,933     $ 3,811     $ 3,933  

    ADVANCED MICRO DEVICES, INC.
    SELECTED CORPORATE DATA
    (Millions) (Unaudited)

      Three Months Ended   Year Ended
      December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    Segment and Category Information(1)                  
    Data Center                  
    Net revenue $ 3,859     $ 3,549     $ 2,282     $ 12,579     $ 6,496  
    Operating income $ 1,157     $ 1,041     $ 666     $ 3,482     $ 1,267  
    Client                  
    Net revenue $ 2,313     $ 1,881     $ 1,461     $ 7,054     $ 4,651  
    Operating income (loss) $ 446     $ 276     $ 55     $ 897     $ (46 )
    Gaming                  
    Net revenue $ 563     $ 462     $ 1,368     $ 2,595     $ 6,212  
    Operating income $ 50     $ 12     $ 224     $ 290     $ 971  
    Embedded                  
    Net revenue $ 923     $ 927     $ 1,057     $ 3,557     $ 5,321  
    Operating income $ 362     $ 372     $ 461     $ 1,421     $ 2,628  
    All Other                  
    Net revenue $     $     $     $     $  
    Operating loss $ (1,144 )   $ (977 )   $ (1,064 )   $ (4,190 )   $ (4,419 )
    Total                  
    Net revenue $ 7,658     $ 6,819     $ 6,168     $ 25,785     $ 22,680  
    Operating income $ 871     $ 724     $ 342     $ 1,900     $ 401  
                       
    Other Data                  
    Capital expenditures $ 208     $ 132     $ 139     $ 636     $ 546  
    Adjusted EBITDA (2) $ 2,212     $ 1,887     $ 1,576     $ 6,824     $ 5,496  
    Cash, cash equivalents and short-term investments $ 5,132     $ 4,544     $ 5,773     $ 5,132     $ 5,773  
    Free cash flow (3) $ 1,091     $ 496     $ 242     $ 2,405     $ 1,121  
    Total assets $ 69,226     $ 69,636     $ 67,885     $ 69,226     $ 67,885  
    Total debt $ 1,721     $ 1,720     $ 2,468     $ 1,721     $ 2,468  
    (1 )   The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs) and Adaptive System-on-Chip (SoC) products for data centers.
        The Client segment primarily includes CPUs, APUs, and chipsets for desktops and notebooks.
        The Gaming segment primarily includes discrete GPUs, and semi-custom SoC products and development services.
        The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products.
        From time to time, the Company may also sell or license portions of its IP portfolio.
        All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangible asset, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer, restructuring charges and licensing gain.
         
    (2 )   Reconciliation of GAAP Net Income to Adjusted EBITDA
      Three Months Ended   Year Ended
    (Millions) (Unaudited) December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    GAAP net income $ 482     $ 771     $ 667     $ 1,641     $ 854  
    Interest expense   19       23       27       92       106  
    Other (income) expense, net   (37 )     (36 )     (49 )     (181 )     (197 )
    Income tax provision (benefit)   419       (27 )     (297 )     381       (346 )
    Equity income in investee   (12 )     (7 )     (6 )     (33 )     (16 )
    Stock-based compensation   339       351       374       1,407       1,380  
    Depreciation and amortization   186       171       164       685       642  
    Amortization of acquisition-related intangibles   584       585       635       2,394       2,811  
    Inventory loss at contract manufacturer                     65        
    Acquisition-related and other costs   46       56       61       187       262  
    Restructuring charges   186                   186        
    Adjusted EBITDA $ 2,212     $ 1,887     $ 1,576     $ 6,824     $ 5,496  
    The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, inventory loss at contract manufacturer, acquisition-related and other costs, and restructuring charges. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.
    (3 )   Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow
      Three Months Ended   Year Ended
    (Millions except percentages) (Unaudited) December 28,
    2024
      September 28,
    2024
      December 30,
    2023
      December 28,
    2024
      December 30,
    2023
    GAAP net cash provided by operating activities $ 1,299     $ 628     $ 381     $ 3,041     $ 1,667  
    Operating cash flow margin %   17 %     9 %     6 %     12 %     7 %
    Purchases of property and equipment   (208 )     (132 )     (139 )     (636 )     (546 )
    Free cash flow $ 1,091     $ 496     $ 242     $ 2,405     $ 1,121  
    Free cash flow margin %   14 %     7 %     4 %     9 %     5 %
    The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company’s net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.
     

    Media Contact:
    Drew Prairie
    AMD Communications
    512-602-4425
    drew.prairie@amd.com

    Investor Contact:
    Matt Ramsay
    AMD Investor Relations
    512-602-0113
    matthew.ramsay@amd.com

    The MIL Network

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 04.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    4 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 04.02.2025

    Espoo, Finland – On 4 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,221,522 4.52
    CEUX
    BATE
    AQEU
    TQEX
    Total 1,221,522 4.52

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 4 February 2025 was EUR 5,526,288. After the disclosed transactions, Nokia Corporation holds 238,124,606 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend the Democratic Republic of the Congo on Steps Taken to Provide Healthcare to Victims of Conflict-Related Sexual Violence, Ask about Reparations for Victims and the Protect

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today concluded its consideration of the report of the Democratic Republic of the Congo on sexual violence in armed conflict in the eastern part of the country, presented under its exceptional reporting procedure. 

    Committee Experts commended the State for the healthcare delivered to victims of conflict-related sexual violence, while asking about reparations for victims and how women seeking firewood and other resources in nature reserves could be protected

    A Committee Expert congratulated the State party for steps taken in the areas of healthcare. The Committee hailed the adoption of decree 23/9, which provided for the creation of multisectoral care for survivors of sexual-related violence.  The establishment of mobile clinics in internally displaced persons camps should be commended, as well as the distribution of post-rape kits by midwives. 

    Another Expert said the State party should be commended for enacting the fund for conflict-related sexual violence.  How did it operate and how many victims had benefitted from it?  What steps were being undertaken to ensure adequate resources to implement a victim-centred transitional justice mechanism? 

    A Committee Expert said as Goma was under siege, the most pressing issue was water.  How would the State install water distribution centres while ensuring the protection of women collecting the water?  Many women trekked from Goma in search of firewood, but instead were found by gunmen and faced rape.  Were there park rangers trained in violence prevention who were gender-sensitive and conscious of the epidemic of violence?  The proliferation of small arms and light weapons often claimed the lives of women and girls foraging for food and firewood; how was their illegal trading being addressed? 

     

    The delegation said victims were active participants in the reparation process.  A law implemented in 2022, which provided protection and reparation to victims of sexual violence, mandated a three per cent fixed amount to be sent to organizations for female victims to provide reparations.  Work was done with women at the local level to ensure their full participation.  More than 220,000 victims had been identified, including displaced persons. 

       

    Regarding the situation in the nature reserves in the east of the country, the delegation said this had become a ground for armed groups operating in the area.  Programmes were in place to address practical needs, including safe drinking water for persons in internally displaced persons camps, to ensure there was no need to forage further afield.  Steps had been taken to strengthen protection in the park areas, with regular security patrolling the areas, and keeping note of where women were located.  Awareness raising campaigns were being conducted to highlight the risks women faced when collecting firewood alone.  Women were provided with micro-credits to generate alternative income streams, allowing them to pay for resources such as firewood and water, rather than searching for them themselves. 

    Introducing the report, Chantal Chambu Mwavita, Minister for Human Rights of the Democratic Republic of the Congo and head of the delegation, called for a minute of silence to be observed for the victims of the conflict.  The special report being presented today on sexual violence in armed conflict in the eastern part of the country had been drafted at the request of the Committee.  The Congolese Government was committed to the prevention and suppression of sexual violence in times of conflict.

    Since the submission of the report, at least 945 police staff members had been deployed in areas where the United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO) had withdrawn to protect the civilian population.  The Government had adopted a national action plan, which included measures aimed at preventing violence against women in armed conflict.  The Minister said the Committee should support the creation of an international criminal tribunal for the Democratic Republic of the Congo to prosecute those responsible for sexual violence. 

    In closing remarks, Ms. Chambu Mwavita said it was an honour to be with the Committee to speak about the situation in the country.  The Democratic Republic of the Congo needed support.  The country had faced the aggression of its neighbour Rwanda for more than 30 years.  The dialogue today presented an opportunity to ask for unity and for efforts to respect the United Nations Charter.

    In her closing remarks, Nahla Haidar, Committee Chair, thanked the delegation for the constructive dialogue despite the difficult situation being faced in the country. The Committee expressed its solidarity with the Democratic Republic of the Congo and commended the State party for the efforts it had already taken. 

    The delegation of the Democratic Republic of the Congo was comprised of representatives from the Ministry of Human Rights; the Ministry of Foreign Affairs; the Ministry of Gender; the National Assembly; the Coordination Body on Youth, Gender and Violence against Women and Trafficking in Persons; the High Military Court; the Superior Council of the Judiciary; the Secretary General for Human Rights; the Commission for Inter-Institutional Victim Assistance and Reform Support Organization; the Assistant to the Chief of Staff of the Head of State and Focal Point for Sexual Violence; Gender and Sexual Violence in Conflict Zones Specialist; the National Assembly; the Directorate of Access to Justice; the Congolese National Police; the Head of State Security; and the Permanent Mission of the Democratic Republic of the Congo to the United Nations Office at Geneva. 

    The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet at 10 a.m. on Wednesday, 5 February, to begin its consideration of the seventh periodic report of Nepal (CEDAW/C/NPL/7).

    Report

    The Committee has before it the report of the Democratic Republic of the Congo presented under the Committee’s exceptional reporting procedure (CEDAW/C/COD/EP/1).

    Presentation of Report

    CHANTAL CHAMBU MWAVITA, Minister for Human Rights of the Democratic Republic of the Congo and head of the delegation, called for a minute of silence to be observed for the victims of the conflict.  The delegation was presenting the report at a particular moment in time when the territory of North Kivu and South Kivu and Ituri was being torn apart by acts of violence, targeting the civilian population and civilian infrastructure, perpetrated by the Rwandan army and the M23 armed group.  Rwanda was a party to the Convention and was directly responsible for these crimes. 

    Various reports from the United Nations and witness statements from survivors of sexual conflict showed that thousands of women and girls had been victims of rape, mutilation and other types of inhumane violence.  These atrocities not only affected displaced persons, but were also taking place at homes, schools and in prisons.  Now Goma and its surroundings had been taken by the M23 army and other parts of Kivu were being besieged.  If the international community did not take urgent measures, there could be the spread of a cycle of violence against women and girls. 

    The special report being presented today on sexual violence in armed conflict in the eastern part of the country had been drafted at the request of the Committee.  The Congolese Government was committed to the prevention and suppression of sexual violence in times of conflict.  Since the submission of the report, at least 945 police staff members had been deployed in areas where the United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO) had withdrawn to protect the civilian population.  They had been trained to protect people against sexual violence. 

    The Government had adopted a national action plan, which included measures aimed at preventing violence against women in armed conflict.  In 2024, over 1,030 cases were reported and prosecuted by police in South Kivu.  Rulings had been handed down, including under military jurisdiction, where reparations were provided for victims.  The Ministry of Human Rights had pledged to conclude military amendments for transitional justice in the country. 

    The Government was making combatting violence against women the number one priority.  National funds had been developed, providing reparation and health care to the survivors.  Mobile clinics had established health care near areas controlled by the Rwandan army and the M23.  The efforts to protect victims from sexual violence were being undermined by the increased attacks by the Rwandan army and M23, as they had stepped up their military efforts and attacks against civilians.  Two weeks ago, a Rwandan military offensive backed by M23 had resulted in the escape of over 3,000 prisoners from Goma’s central prison, the proliferation of light arms, infrastructure damage, rapes of 163 women held in the prison who were set alight while alive, pillaging of legal buildings, attacks on women defending women victims of violence, and the bombing of the maternal hospital in Goma which led to the deaths of pregnant women and women who had just given birth.

    The Minister said it was essential for the Committee to provide support without delay to women survivors of sexual violence who were in areas occupied by the Rwandan army and the M23.  The Committee should strongly condemn the occupation of Congolese territory by the Rwandan army and the M23, and actively advocate for sanctions against them.  The Committee should support the creation of an international criminal tribunal for the Democratic Republic of the Congo to prosecute those responsible for sexual violence.  The delegation was here to support the United Nations Charter and put an end to the war in the country. 

    NAHLA HAIDAR, Committee Chair, said the Committee stood with the delegation and the people of the Democratic of the Congo during this difficult time. 

     

    GISÈLE KAPINGA NTUMBA, National Human Rights Commissioner and head of the delegation of the National Human Rights Commission of the Democratic Republic of the Congo, saluted the delegation, which had spared no effort to take part in the session, despite the situation in the country.  The Commission welcomed the decisions taken by the Congolese Government to protect the civilian population from the risks of sexual violence and other related human rights violations committed by the parties to the ongoing conflict in the east of the country.  However, it remained concerned about the implementation of the decisions taken and their deterrent nature, particularly with regard to armed groups and the Rwandan army, which were not concerned by these decisions. 

    One of the major challenges for the Government was the security of and humanitarian assistance for the civilian population, both in areas besieged by armed groups and in camps for displaced persons.  The recent invasion and unprecedented assault on the city of Goma by the M23 rebels and the Rwandan army demonstrated the magnitude of the challenge and had led to systematic and widespread violations of human rights and international humanitarian law, with women and children as primary targets.

    At least 700 people had died in Goma since the invasion, and about 500,000 people had been displaced, the majority of whom were women and children.  Sexual violence had reached its peak and health care facilities were overwhelmed.  The city had not been under the control of the Congolese Government, in violation of the principle of Congolese State sovereignty, since the invasion.

    Taking into account the current context, the Commission recommended that the Congolese State use all its powers to restore peace in the east by favouring diplomatic channels and the peaceful settlement of the conflict.  At the International Criminal Court, it was recommended that criminal proceedings be initiated against the leaders of the M23 and the Rwandan army for the various acts constituting war crimes and crimes against humanity perpetrated in Goma and its surroundings.  Finally, at the United Nations Security Council, the Commission recommended that targeted sanctions be taken against Rwanda and that everything be done to bring peace to the eastern Democratic Republic of the Congo.

    Questions by Committee Experts

    BRENDA AKIA, Committee Expert and Country Rapporteur for the Democratic Republic of the Congo, said the Committee members extended their heartfelt condolences to the Democratic Republic the Congo, and condemned the violence being experienced by women and girls in the country.  Ms. Akia commended the Government for the commitment to being part of the dialogue, the progress made in human rights, and the measures taken to tackle sexual violence.  Could the State party provide specific information on the different forms of conflict-related sexual violence currently being committed against women and girls?   

    An urgent political response was needed to ensure peace and security in the eastern Democratic Republic of the Congo.  Given the complexity of the conflict, fuelled by the exploitation of minerals and the existence of armed groups, what strategies was the State party undertaking to push for peace in the country, and ensure the protection of women and girls under international humanitarian law?  What was being done to end the illicit exploitation of these minerals? The Committee commended the State party for the actions taken so far; what were the challenges faced in implementing these legal and policy frameworks?  What resources would the State party require to implement these frameworks?

    A Committee Expert said the Democratic Republic of the Congo was resource-rich, which was often a curse, having fuelled the conflict and sexual violence.  Several pieces of legislation had been passed with the aim of regulating the trade of minerals and armed conflict in the area.  How were extraterritorial actors, including businesses, being held accountable so they did not avoid impunity? 

    Responses by the Delegation

    The delegation said the illicit mining was one of the main causes of the crisis in the eastern part of the country.  The Government had enacted several measures to turn this situation around, but the major challenge was that the mines were under the control of armed groups as well as foreign States that were involving themselves in the conflict.  The Government was taking steps to ensure the certification of certain mining operations, but it was difficult to ensure this was a widespread approach.  The Government was hindered by the conflict and its economic pressure and the difficulty of imposing Government initiatives in areas controlled by rebel groups and foreign States, due to the lack of administrative control.

    The financial issues were a challenge, including for implementing transitional justice mechanisms, which was why an appeal had been made to States for support in this regard. Impunity needed to be tackled head on; the perpetrators of these crimes could not go unpunished.  Steps needed to be taken to bear pressure on other States involved in the conflict, including by sheltering perpetrators.  The Democratic Republic of the Congo was calling for an international criminal tribunal to ensure all involved, regardless of their location, could be apprehended.  When rapes had occurred in Goma, any measures taken by the Government to deal with this were difficult to enact, as other parties were now in charge of Goma. 

    In the conflict areas, women were principally being used by armed groups and other combatants to serve as sexual slaves.  This could result in forced pregnancies and exposure to sexually transmitted diseases. Women being held by these armed groups also did not have access to relevant and necessary health care.  A coordination unit had tracked 10 forms of sexual violence, including rape, human trafficking, sexual mutilation, public sexual violence and humiliation, including women whose sons had been forced to rape them in public, public sexual violence against men and boys, gang rape, transmission of HIV/AIDS as a result of rape, and stigmatisation as a result of the sexual violence, among others. 

    There was also a form of sexual violence deliberately targeting children, particularly young girls. The State had also seen sexual violence used as a weapon of war, which had been ongoing since 2011, when the country was first described as “the world rape capital”. 

    To ensure a better management of its natural resources, the Democratic Republic of the Congo participated in multiple inter-State cooperation efforts to ensure the tracing of natural resources, including those exploited via mining. One included the Kimberly Process for the tracing of diamonds.  The difficulty lay in the application of these pieces of legislation, as the majority of the areas where these resources were found were occupied by Rwanda in the eastern part of the country.  For this reason, it was difficult for the State to exercise its full sovereignty and ensure the traceability of resources.

    Questions by Committee Experts

    A Committee Expert thanked the members of the delegation for their presence, despite the dire situation.  Many women in the Democratic Republic of the Congo faced marginalisation from the peace and security processes.  The weak rule of law, and the impunity for perpetrators of violence and gender-based violence, continued to undermine women’s involvement in the peace and security agenda.  The Expert was happy to note that the third national action plan on women, peace and security had been adopted in 2024; when did it come into effect?  How were women’s organizations and victims engaged in its implementation?  What were the key objectives of the plan?  What concrete plans existed to address the situation of impunity?  What concrete measures were being undertaken to ensure the effective participation of women’s organizations and victims of sexual violence in policies and frameworks relating to women, peace and security? 

    The State party should be commended for enacting the fund for conflict-related sexual violence. How did it operate and how many victims had benefitted from it?  What steps were being undertaken to ensure adequate resources to implement a victim-centred transitional justice mechanism?  Given the withdrawal of the United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO), how would the Government’s transition plan fill this void?  Was there any data on women’s direct participation in negotiation processes for peacebuilding? 

    Responses by the Delegation

    The delegation said victims were active participants in the reparation process.  A law implemented in 2022, which provided protection and reparation to victims of sexual violence, mandated a three per cent fixed amount to be sent to organizations for female victims to provide reparations.  Work was done with women at the local level to ensure their full participation.  More than 220,000 victims had been identified, including displaced persons.  The situation of displaced persons had been catastrophic and required immediate assistance, with emergency measures implemented for this group, including holistic care, medical psychosocial care, and legal assistance and support; 49 per cent of people recorded came from North Kivu.  The situation was constantly changing which made it difficult to respond to. Rigorous monitoring and management efforts were taken to ensure victims were at the heart of responses, with the majority of resources gathered being dispersed as reparations.  Regular consultations were held with victims groups every three months. 

    The third national action plan on women, peace and security was approved in 2024 and included activities to improve the level of women’s participation.  For the first time in the country, there was a female Prime Minister and 32 per cent of those occupying high-level positions in the Government were women.  Awareness-raising campaigns were carried out to raise awareness of women’s rights, prevent sexual violence, and protect women and young girls from gender-based violence. The most recent plan had 26 million dollars earmarked, which had been provided by the Government, public and private partners and international partners, including Norway.  Innovative aspects had been included within the plan, including an aspect of positive masculinity. 

    The withdrawal of the United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO) from the Democratic Republic of the Congo began in 2021.  The withdrawal plan was supported by the Peace Consolidation Fund, to support the country when the Mission withdrew and bolster peace efforts.  This approach was inclusive, involving civil society and actively promoting cohesion among women’s organizations. 

    Since 2018, there had been an increase in women in decision-making positions, due to an introduction of measures to promote gender equality, as well as this being enshrined within the country’s Constitution. 

     

    Questions by Committee Experts

    A Committee Expert said the Democratic Republic of the Congo had ratified the Convention almost 40 years ago.  During this time, how had women’s participation in the political process changed? How many people were in top positions in the country?  Women and girls in the Democratic Republic of the Congo remained underrepresented in all spheres, including in the private sector.  Out of 500 members of Parliament, only 14 per cent of them were women. 

    A roadmap had been adopted up to 2028 to prevent violence in politics.  What steps were being taken to guarantee more women taking part in legislative bodies?  What was being done to eliminate violence in electoral processes?  How were women candidates being protected?  Taking into consideration the extreme violence in the eastern part of the country, it seemed difficult to foresee, but when would there be net parity in the representation of the Democratic Republic of the Congo?

    Responses by the Delegation

    The delegation said a campaign had been spearheaded for positive masculinity. There was now a female Prime Minister and women occupied key decision-making and ministerial posts within the Government, including as the Minister of Foreign Affairs. This year, all party leaders were called upon to ensure 50 per cent of female candidates in their electoral lists in scheduled elections.  These lists would be excused from having to pay the electoral fee, which was an incentive to guarantee more female candidates. 

    Steps had been taken at the electoral and appointed level to push for the stated goal of parity. However, it was another thing to ensure that the female candidates were elected as representatives or senators. The authorities had more control on appointing women to specific posts, rather than ensuring they were elected by voters.  A rule had been enacted to ensure parity with Director-Generals and Deputy Director-Generals, whereby every time a man was appointed to this position, so was a woman, and vice versa.  To ensure more female members of Parliament, women had to be able to persuade the local population to vote for them.  Hearts and minds needed to be changed at the grassroots level, but this was happening gradually.  Having more female leaders would go a long way to changing the electoral environment. 

    During the most recent elections, a programme was rolled out to address electoral violence in the eastern part of the country, and boost capacity for women who wanted to stand as electoral candidates.  Programmes were also rolled out targeting key communities and regions at a grassroots level. Awareness-raising was being carried out in villages to address the entrenched views within the country. Women female candidates often lacked resources, so it was important to engage in capacity building so they could undertake fundraising.  The process towards the drive towards parity was closely tied to the existence of legal instruments.  The Democratic Republic of the Congo was making efforts to promote women’s participation at all levels. 

    Legal and regulatory frameworks were in place under Congolese electoral law to protect female candidates.  A specialised police unit and the military were deployed to regions to ensure violence was not being inflicted on female candidates, and the police received special training in this regard.  Special campaigns were carried out to raise awareness of gender-based violence in elections and encourage female candidates to report this phenomenon.  The prevailing conflict hampered the opportunities to change the sociological and cultural mindsets within the country.  Of the 5,000 judges in the country, around 25 per cent were now women, when previously it had been almost zero.  To achieve this goal, women had been prioritised in recruitment drives.  There was a lack of trust in women’s competence which needed to be addressed. The State was exhausted by the war which was standing in the way of the process. 

    Questions by a Committee Expert

    A Committee Expert said given the link between armed conflict and the climate crisis, could reparations be expanded to include climate-change related violence against women? In March 2021, the International Criminal Court had issued its first order for reparations for victims of sexual violence in the Democratic Republic of the Congo.  Did the reparation fund provide funds for children born out of rape? Last year, a member of the militia was sentenced to imprisonment for life for crimes against humanity, due to forced pregnancy, which was a global first and should be congratulated.  Did the Penal Code address the 10 categories of sexual violence previously mentioned?  How did the Code help shift the stigma from the victim to the perpetrator? As Goma was under siege, the most pressing issue was water.  How would the State install water distribution centres while ensuring the protection of women collecting the water?

    Many women trekked from Goma in search of firewood, but instead were found by gunmen and faced rape.  Were there park rangers trained in violence prevention, who were gender-sensitive and conscious of the epidemic of violence?  The proliferation of small arms and light weapons often claimed the lives of women and girls foraging for food and firewood; how was their illegal trading being addressed?  It was estimated that the country faced acute food insecurity and was at the tipping point of famine.  How was a humanitarian corridor for access to food, water and medical supplies being established?  Unfortunately, in the Democratic Republic of the Congo, food insecurity resulted in “famine brides”, particularly women and girls with disabilities, who were denied food and medicine and sold in sexual slavery.   

    Responses by the Delegation

    One speaker from the delegation said she had been raped during the war, and hearing the recent news was triggering many emotions.  At the time she had been a child; now she was 28 and it continued to haunt her.  It was vital for the reparation fund and other programmes which aimed to provide reparations to victims, to target children born in conflict, children born from rape, and children who witnessed conflict.  The Child and Youth Programme granted children who came from conflict or rape administrative documents.  Medical care, psychosocial assistance and social support, including access to education, was provided to children.  Laws were in place to ensure that those involved in the conflict would not be able to hold decision-making positions or receive any benefits. 

    M23 and the Rwandan Government had destroyed the displaced persons camps around Goma, depriving these people of their legitimate rights to protection.  The Government, with international partners, had made great efforts to help people establish these camps and have the bare necessities, but they were being destroyed.  It had become impossible to find a single shelter for displaced people in these areas. So many efforts had been made, with little results, as the Government could not control the area.  The speaker asked the international community to speak on behalf of victims, so that their voices were heard. 

    The State was working with the United Nations Children’s Fund, the United Kingdom and others to develop a tool to identify children born from rape.  This would not just help children from the Democratic Republic of the Congo, but also children born from rape in Sudan, Ukraine and other parts of the world.  The Democratic Republic of the Congo was expecting a third wave of children born from rape, who would ask who their parents were.  There needed to be measures to ensure this did not happen again. It was difficult to bring down the number of light weapons. 

    There was an undeniable link between sexual violence against women and economisation. Regarding the situation in the nature reserves in the east of the country, this had become a ground for armed groups operating in the area.  One of the consequences of climate change was the energy crisis, meaning firewood and charcoal carbon were the energy resources sought by women and girls, who regularly fell victim to the armed groups, and were raped while seeking to meet their energy needs.  There were units responsible for protecting the reserves, but the light weapons they were armed with were no match for the firepower of the armed groups, who could then wreak havoc on the nature reserves.  The guards in the reserves were not equipped to protect the women searching for firewood and the Government did not have the ability to intervene as these areas were controlled by Rwanda.  Many of these parks and forests were registered as national heritage sites by the United Nations Educational, Scientific and Cultural Organization.  The impact of this part of the conflict needed to be properly understood and measured. 

    A programme had been developed to ensure youths were not tempted by the recruitment of the armed groups, and to provide for the needs of internally displaced persons and ensure their reintegration in their host communities.  The programme also targeted ex-combatants but excluded those who had taken arms against the Democratic Republic of the Congo.  A woman was a member of the leadership board on this programme. 

    Programmes were in place to address practical needs, including safe drinking water for persons in internally displaced persons camps, to ensure there was no need to forage further afield.  The war had hampered these endeavours, as many internally displaced persons were now fleeing from camps, and it was difficult to identify them.  Steps had been taken to strengthen protection in the park areas, with regular security patrolling the areas, and keeping note of where women were located.  The State was also seeking to address the issue of reforestation, by encouraging women to engage directly in sustainable forest management. 

    Awareness raising campaigns were being conducted to highlight the risks women faced when collecting firewood alone.  Women were provided with micro-credits to generate alternative income streams, allowing them to pay for resources such as firewood and water, rather than searching for them themselves.  A hotline was established, where women could call to report instances of rape or violence, and they were offered psychological assistance and support. Women were also taught how to have access to water and sustainably manage it, and water purification tablets were distributed to women, to ensure their water was drinkable.  Work was being done with local and international partners to bolster women’s protection systems and their sustainable natural management systems. 

    Steps were being taken to tackle food insecurity which was prevalent in the eastern part of the country, including through establishing canteens for displaced persons. The Government placed special emphasis on tackling the trading of small arms and light weapons, but this was often disregarded by States.  However, the Government sometimes had to disregard control measures themselves to ensure they were equipped to fight against the Rwandan army and M23.  It was important to note that the State was not refusing dialogue with the armed groups, but they would not re-enter former rebel combatants into the armed forces.  However, the State was willing to engage in dialogue with these groups, under the Nairobi agreement. 

    Questions by Committee Experts

    An Expert said it was important that women were included in the Nairobi peace process. It was vital to document evidence and women’s narratives for women’s legal action.  The Congo basin was “the lungs of Africa” and it was important that it was protected to ensure the Sustainable Development Goals.  The Democratic Republic of the Congo had reintroduced the death penalty in January this year to address the wave of gang violence. It was hoped this would be reconsidered. 

    BRENDA AKIA, Committee Expert and Country Rapporteur for the Democratic Republic of the Congo, commended the State party for justice efforts taken to end impunity for conflict-related sexual violence, including the mobile courts which had led to the prosecution of numerous perpetrators.  Given the high level of sexual violence, the number of convictions were not commensurate.  Was the State party considering other jurisdiction methods to ensure perpetrators who passed through the porous borders in the regions would be prosecuted and held accountable? 

    The State party should emphasise in the Nairobi peace process negotiations the conflict-related sexual violence experienced by women and girls and the importance of gathering evidence for seeking justice.  How was the State party investing in strengthening the rule of law to ensure access to quality and affordable justice, including access to legal aid for victims of conflict-related sexual violence?  Could the State party provide data on the number of investigations, arrests, arrest warrants and successful convictions handed down against victims? Ms. Akia commended the State party for the commitment to the peace process

    Responses by the Delegation

    The delegation said that following some complaints received by the Government, a Commission was established to look into alleged violations by members of law enforcement. In Goma, around 30 members of law enforcement had been judged.  Given the recent situation of the prison break, the whereabouts of these individuals was currently unknown.  The difficulty was related to the international nature of the crisis; even if domestic mechanisms would be established, there were international elements which needed to be addressed.  For the Government, the reinstation of the death penalty was an administrative deterrent measure for the situation in the eastern part of the country.  No executions had been carried out so far. 

    Justice was provided free of charge for victims of conflict-related sexual violence, practically and legislatively.  Many women did not want to present their cases before courts as they feared stigmatisation, and they also faced difficulty in access to justice, which explained the discrepancy between the number of cases of sexual violence reported and the number convicted.  Often times, victims could not pay for legal proceedings and did not understand how the courts operated, which presented further challenges.  The State party was aiming to remove some of these barriers, including by making access to the justice system free of charge.  Now, in the east of the country, this was the situation.  At the same time, legal assistance could be provided to victims. 

    Questions by a Committee Expert

    A Committee Expert expressed solidarity and deep sadness for the tragic loss of life within the State party.  Could the State party provide information on what measures were being taken to ensure adequate capacity to strengthen coordination among duty-bearers responsible for preventing conflict-related sexual violence, including judges and prosecutors, among others?  What incentives had been applied to increase the recruitment of judges and prosecutors so that they could handle the backlog of conflict-related sexual violence cases, particularly in rural areas?  How often were duty-bearers responsible for combatting conflict-related sexual violence? How often was training conducted and what did it entail?  How often was the Convention incorporated in the training? 

    Responses by the Delegation

    The delegation said according to the 2024 law on the status of judges, judges learned about several topics during their training, including sexual violence.  From the moment Congolese judges were appointed, they could begin to work on repressing sexual violence.  Following the ratification of the Convention, the Democratic Republic of the Congo had had to adapt its legal framework. 

    In areas of conflict, it would be difficult to provide statistical figures, as courts and legal buildings had been destroyed, meaning it was difficult to follow-up on written cases. The National Strategy to Combat Gender-Based Violence had been rolled out initially in 2010, was revised in 2019, and was being reviewed currently to see if it needed to be tailored to the existing context.  In 2019, the National Police drew up a national plan to tackle sexual violence, which contained a chapter outlining the modalities to be followed when it came to interviewing victims and witnesses. 

    The statue on the recruitment of judges covered lawyers who worked in the Attorney-General’s Office.  Around two thirds of magistrates recruited by the Office in 2023 would be reappointed to serve as judges in district courts.  There were more than nine instances of action criminalised as sexual violence, which were heard before the Peace Courts.  These cases were being heard whenever possible in local district courts.  This was a way used by the Government to address the backlog of cases.  Female mediators were currently being trained by Member States of the Southern African Community. 

    Questions by Committee Experts

    A Committee Expert said conflict-affected mining grounds saw high levels of sexual slavery, fuelled by money from the mineral trade.  Human trafficking remained a worrying phenomenon in certain parts of the country.  How did the State party ensure that complaints of trafficking were handled appropriately and that victims themselves were not penalised?  How would the State party prevent trafficking of persons by members of the armed groups?  Were there plans to increase the number of shelters for female victims of human trafficking? 

    Another Expert said the Committee encouraged the State party’s efforts in the face of the resurgence of conflict.  Between January 2022 and March 2023, more than 100 schools had stopped operating due to the deteriorating security situation.  The Committee understood that educational activities were extremely difficult during the ongoing situation.  Was there an education policy for displaced women and girls?  Was education considered part of the services provided to survivors of conflict-related sexual violence?  What were the education plans for all levels of the system?  Were school age pregnant girls and mothers able to attend schools and access education? The Expert was pleased to hear of the State party’s approach to positive masculinity.  Young males were easy targets for recruitment into armed groups. Did gender-responsive education exist within the school and university systems, the armed forces, and State systems?

    Responses by the Delegation

    The delegation said as of last week, there were more than seven million internally displaced persons in the Democratic Republic of the Congo who were lacking aid, which presented a major crisis for the country.  Since 2019, the President had set up the National Agency to tackle the issue of human trafficking.  An expanded Technical Commission had been established to engage in discussions and debate.  In conflict zones, women and children were increasingly vulnerable to sexual exploitation. There was an increasing number of brothels in and around Goma, and in mining areas as well.  Those who worked there were victims, who had no other choice. There was a significant amount of forced labour in the mines, with a substantial number being children.  There were also many child combatants in the armed groups who had been tricked into joining them. 

    There was significant corruption surrounding human trafficking; the Government fully understood this issue and was attempting to tackle it head on.  The current political instability and the mass of displaced persons gave traffickers cover to carry out their activities.  The Government was doing its utmost to combat human trafficking and was working closely with the United Nations Office in Vienna.  The State had managed to stabilise the situation, but recognised there was still significant work to be done. 

    The Government had been able to rebuild around 20 schools which had been destroyed.  The approach to education always mainstreamed a gender dimension, and took into account the specific needs of women and girls. The major issue was the sheer number of displaced persons, with more than half of them women and children. The State was doing its utmost to ensure women and girls had access to education. 

    Questions by Committee Experts

    A Committee Expert congratulated the State party for steps taken in the area of healthcare. The Committee hailed the adoption of decree 23/9, which provided for the creation of multisectoral care for survivors of sexual-related violence.  The establishment of mobile clinics in camps for internally displaced people should be commended, as well as the distribution of post-rape kits by midwives. Could more data be provided, including the number of health care facilities built, the number of victims treated, the number of kits being distributed, and the training rate of those trained?

    Another Expert said in some contexts armed groups used child marriage as a weapon of war to hide human trafficking, with a very small percentage of cases brought to light. What special urgent actions was the State taking to counter this regrettable situation?  What were legal institutions doing to prevent child and forced marriages?  Was awareness being raised among the families to teach them about their rights?  Was current legislation being enforced?  How was security being provided to the victims? 

    NAHLA HAIDAR, Committee Chair, asked about the mass displacement of people; how were these people documented? 

    Responses by the Delegation

    The delegation said the legal instruments on sexual violence, particularly the law on children, stipulated how the system was regulated.  The Government did not have control over this part of the country, and it hurt that they could not answer questions about things happening on their land. The mechanisms existed, but the State could not enforce its own legal instruments because it did not have control over the territory. 

    Forced marriage carried a sentence of 20 years in prison for anyone responsible, including a parent or head of a tribe.  There were also awareness campaigns being carried out on forced marriage and human trafficking.  Institutions took cases of forced marriages very seriously.  A State official would not grant a marriage license without verifying the age of those seeking marriage.  A provincial action plan was in place for areas where there were high rates of early and forced marriages.  The police had put together an action plan against sexual violence which considered the child.  The Democratic Republic of the Congo had set up free programmes to provide education on child marriage.

     

    The State did not have access to areas under control of the Rwandan army and armed forces. Rehabilitation had been provided to displaced persons, but there were seven million displaced persons, which meant that the Government could not look after everyone.  Over 10,000 displaced persons had received medical care under a programme, but unfortunately the Government had to close this programme due to the war.  There was a budget in place to assist displaced persons.  Before the war, actions had been taken by the Government in land currently under Rwandese occupation. 

    This dialogue could be an opportunity to appeal to the international community for financial assistance to improve the State’s humanitarian response to the crisis. 

    Questions by a Committee Expert

    A Committee Expert said due to the humanitarian crisis and high levels of poverty, high levels of food insecurity persisted, disproportionately affecting women and girls. In some cases, women were raped, mutilated, killed or burned.  Data was needed for the State party to be able to take measures.  Could disaggregated data be provided on the number of women and girls who were victims of conflict-related sexual violence in camps in the eastern part of the country?  What actions were applied by the State party to upgrade gender-specific security measures in and around these protection sites?  How did the State party sustain an emergency response for women and girls fleeing the conflict?  What specific education and training had been provided for peace? How was awareness raising undertaken in the eastern Democratic Republic of the Congo, reaffirming peace and tolerance? 

    Responses by the Delegation

    The delegation said Governments bore the responsibility of protecting their citizens. They should not be persecuting their people.  The country had been caught up in a crisis for the past three decades.  The programmes put in place demonstrated the commitment of the Government to restore children who had been educated in the culture of killing and war.  Before Goma fell, the Government had enacted measures to ensure security of the internally displaced person camps, including preventing people with no business in the camps from entering and installing security controls around the camps. Unfortunately, these efforts had proven to be in vain.  An action plan had been rolled out to bolster the humanitarian response, with a key component of the strategy focused on tackling gender-based violence. 

    Questions by a Committee Expert

    A Committee Expert asked what proportion of the extractive industry was owned and led by women? What role did women play in supply chains in key sectors?  How was legislation being reformed for companies investing and trading in the extractive industry?  How was the State party providing necessary oversight through the licensing of the private sector?  How did public and private partnership projects explicitly promote and protect women’s rights?  How were appropriate social buffers provided to cushion the impact of war on women?   

    Responses by the Delegation

    The delegation said the State had begun the process of victim identification, and 54 per cent of victims identified were women.  This meant these women could benefit from reparations if they arrived at the end of the process.  No woman victim would be deprived of her right to reparation or remedy. 

    In the Congolese mining agreements and the forestry code, there was a legal mechanism in place, called the social clause.  Whatever resources were being exploited, no part of the land escaped this principle. Anyone who wished to exploit resources needed to engage with the community, but the State was the sovereign owner.  There were no clauses which prohibited women from working in the private sector or in the extractive industries.  In the initiative on human rights, there was a voluntary principle which allowed the State to monitor and intervene in instances of mining to ensure there were no violations of human rights or cases of forced labour.  Women played a full role in the private sector and there was a high rate of participation there. 

    Closing Remarks 

    CHANTAL CHAMBU MWAVITA, Minister for Human Rights of the Democratic Republic of the Congo and head of the delegation, said it was an honour to be with the Committee to speak about the situation in the country.  The Democratic Republic of the Congo needed support.  The country had faced the aggression of its neighbour Rwanda for more than 30 years.  The dialogue today presented an opportunity to ask for unity and for efforts to respect the United Nations Charter.

    NAHLA HAIDAR, Committee Chair, thanked the delegation for the constructive dialogue despite the difficult situation being faced in the country.  This was an exceptional report, and the Chair thanked the State party for participating in the dialogue which gave the Committee a chance to better understand the situation faced by women and girls who were victims of conflict-related sexual violence.  The Committee expressed its solidarity with the Democratic Republic of the Congo and commended the State party for the efforts it had already taken.  

    Produced by the United Nations Information Service in Geneva for use of the information media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

    CEDAW25.002E

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: The National Pharmaceuticals Pricing Policy, 2012 lays down the regulatory framework for pricing of drugs

    Source: Government of India (2)

    The National Pharmaceuticals Pricing Policy, 2012 lays down the regulatory framework for pricing of drugs

    The Central Drugs Standard Control Organisation has signed agreements or memorandum of understandings on regulatory cooperation with other international agencies

    Posted On: 04 FEB 2025 5:50PM by PIB Delhi

    The National Pharmaceuticals Pricing Policy, 2012 (NPPP, 2012) lays down the regulatory framework for pricing of drugs. The key principles for regulation of prices in the said policy are (i) regulation on the basis of essentiality of drugs, (ii) regulation of prices of formulations only, i.e., medicines used by consumers and not the upstream products such as bulk drugs or intermediates, and (iii) regulation through market-based pricing as against cost-based pricing under the Drugs (Prices Control) Order, 1995. The details of the policy are available in the Gazette notification dated 7th December 2012 of the Department of Pharmaceuticals

    [https://egazette.gov.in/(S(cjt0i1uouyc1bl3ozo3jx3qk))/ViewPDF.aspx].

    As per the information provided by the Department of Health and Family Welfare, the Central Drugs Standard Control Organisation has signed agreements or memorandum of understandings on regulatory cooperation with other international agencies, including with such agencies in Afghanistan, Argentina, Brazil, Denmark, Dominican Republic, Ecuador, Germany, Guyana, Japan, Netherlands, Russian Federation, Suriname, Sweden, Ukraine, United Kingdom and United States of America and the Drug Regulatory Authority of BRICS.

    This information was given by the Union Minister of State for Chemicals and Fertilizers Smt Anupriya Patel in Rajya Sabha in a written reply to a question today.

    *****

    MV/AKS

     

    (Release ID: 2099706) Visitor Counter : 69

    MIL OSI Asia Pacific News

  • MIL-OSI Global: Trump wants Greenland – but here’s what the people of Greenland want

    Source: The Conversation – UK – By Gustav Agneman, Associate Professor, Department of Economics, Norwegian University of Science and Technology

    Kulusuk village in East Greenland. Shutterstock/Muratart

    In 2018, a colleague and I, together with a team of Greenlandic research assistants, conducted one of the most comprehensive surveys to date on public opinion in Greenland. We travelled to 13 randomly selected towns and settlements across the island nation, conducting in-person interviews with a representative sample of adult residents.

    The survey explored a wide range of topics. We asked for views on climate change, economic matters – and the prospect of independence from Denmark. Until recently, this was the latest poll on what the people of Greenland thought about this issue.

    Greenland, a former Danish colony, is currently an autonomous territory within the Kingdom of Denmark. This political arrangement grants Greenland extensive self-rule, including control over most domestic affairs, as well as its own prime minister and parliament. However, Denmark retains authority over foreign policy, defence and monetary policy.

    While our survey results were covered in Greenlandic and Danish media upon their release, they received scant international attention. This changed abruptly on January 15, when newly re-elected US president Donald Trump reposted an old news article about our results. The headline stated that two-thirds of Greenlandic citizens support independence.

    Trump posting the 2018 poll in 2025.
    Truth Social

    Trump did not add a comment in the post but the insinuation was clear given his recent statements about annexing Greenland from Denmark: Greenlandic residents want independence from Denmark, and therefore, they might be open to other political or economic arrangements with the US.

    “I think we’re going to have it,” Trump recently said after a phone call with the Danish prime minister, Mette Frederiksen, who told him the land was “not for sale”. Trump has in the past spoken of somehow “purchasing” Greenland but has since moved on towards speaking in more assertive terms about taking control of the territory.

    Back in 2018, when we conducted the survey, Trump had not yet revealed any plans to annex the island nation. It was a scenario we could hardly even have imagined and therefore did not ask our participants about. As such, regardless of how Trump framed them, the survey results in no way indicated that the population harboured a desire to join the US.

    In fact, a recent survey conducted by Sermitsiaq (a Greenlandic newspaper) and Berlingske (a Danish newspaper) directly addressed this question and found that only 6% of respondents wanted Greenland to leave Denmark and instead become part of the US.

    In the study I published based on the 2018 data collection, I reported that a majority of the Greenlandic population aspired to independence. Two-thirds of the participants thought that “Greenland should become an independent country at some point in the future”.

    Opinions were more divergent regarding the timing of independence. When asked how they would vote in an independence referendum if it were held today, respondents who stated a preference were evenly split between “yes” and “no” to independence.

    The Act on Greenland Self-Government, passed in 2009, grants the Greenlandic government the legal authority to unilaterally call a referendum on separating from the political union with Denmark. According to the law, “the decision regarding Greenland’s independence shall be taken by the people of Greenland”.

    During the 15 years since its passage, the option to call a referendum has not been exercised. This is likely due to the potential economic consequences of leaving the union with Denmark.

    Each year, Denmark sends a block grant that covers approximately half of Greenland’s budget. This supports a welfare system that is more extensive than what is available to most Americans. In addition, Denmark administers many costly public services, including national defence.

    This backdrop presents a dilemma for many Greenlanders who aspire to independence, as they weigh welfare concerns against political sovereignty. This was also evident from my study, which revealed that economic considerations influence independence preferences.

    For many Greenlanders, the island nation’s rich natural resources present a potential bridge between economic self-sufficiency and full sovereignty. Foreign investments and the associated tax revenues from resource extraction are seen as key to reducing economic dependence on Denmark. Presumably, these natural resources, which include rare earths and other strategic minerals, also help explain Trump’s interest in Greenland.

    As Greenland’s future is likely to remain at the centre of a geopolitical power struggle for some time, it is crucial to remember that only Greenlanders have the right to determine their own path. What scarce information is available on their views suggests that while many aspire to independence, it is not driven by a desire to join the US.

    Gustav Agneman 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. Trump wants Greenland – but here’s what the people of Greenland want – https://theconversation.com/trump-wants-greenland-but-heres-what-the-people-of-greenland-want-248745

    MIL OSI – Global Reports

  • MIL-OSI Economics: Statement of the Monetary Policy Committee and publication of Monetary Bulletin 5 February 2025

    Source: Central Bank of Iceland

    A statement of the Monetary Policy Committee will be published on the Central Bank of Iceland website Wednesday 5 February 2025 at 08:30 hrs. The Bank’s Monetary Bulletin will be published at 08:35 hrs. An hour later, at 9:30 hrs., a press conference on the statement and the contents of the Monetary Bulletin will be held.

    MIL OSI Economics

  • MIL-OSI: Nykredit Realkredit A/S has received the Danish Financial Supervisory Authority’s approval of Nykredit’s increase of the qualifying shareholding in Spar Nord Bank A/S – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Nykredit Realkredit A/S has received the Danish Financial Supervisory Authority’s approval of Nykredit’s increase of the qualifying shareholding in Spar Nord Bank A/S.

    4 February 2025

    Nykredit Realkredit A/S has received the Danish Financial Supervisory Authority’s approval of Nykredit’s increase of the qualifying shareholding in Spar Nord Bank A/S.

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. The Offer Period ends on 19 February 2025 at 23:59 (CET).

    Nykredit has received the Danish Financial Supervisory Authority’s approval in accordance with section 61 of the Danish Financial Business Act to increase Nykredit’s qualifying shareholding in Spar Nord Bank up to 100 per cent of the share capital.

    In addition to the Danish Financial Supervisory Authority’s approval, the Offer is subject to fulfilment of the conditions set out in section 6.6 of the Offer Document, including approval by the Danish Competition and Consumer Authority and achievement of the 67 per cent acceptance limit.

    It is Nykredit’s view that the shareholders of Spar Nord Bank find the Offer attractive. At the time of this announcement, Nykredit holds 31.1 per cent of the shares in Spar Nord Bank, and Nykredit’s information about acceptances received so far indicates that the 67 per cent acceptance limit stated in the Offer has been reached.

    Nykredit aims to delist Spar Nord Bank from Nasdaq Copenhagen A/S and to compulsorily acquire the remaining shares as soon as possible after completion of the Offer.

    Nykredit expects the Offer to be completed during H1/2025.

    The full terms and conditions of the Offer are contained in the Offer Document. The Offer Document is published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/en-gb/offer-spar-nord/ and https://www.sparnord.com/investor-relations/takeover-offer.   

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn

    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9B

    1414 Copenhagen K

    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/en-gb/offer-spar-nord/.

    This announcement and the Offer Document are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining this Offer Document, an acceptance form and/or other documents relating to the Offer Document or to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this Offer Document outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.


    1 Executive Order no. 636 of 15 May 2020

    Attachment

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