NewzIntel.com

Category: Trade

  • MIL-OSI USA: Sens. Moran, Hoeven, Shaheen, Bennet Reintroduce Legislation to Provide Educational Benefits for Air National Guard

    US Senate News:

    Source: United States Senator for Kansas – Jerry Moran
    WASHINGTON – U.S. Senators Jerry Moran (R-Kan.), John Hoeven (R-N.D.), Jeanne Shaheen (D-N.H.) and Michael Bennet (D-Colo.) reintroduced legislation to establish a permanent federal tuition assistance (FTA) program benefitting Air National Guard members. The Air Guard Standardizing Tuition Assistance to Unify the Services (STATUS) Act requires the Secretary of the Air Force to provide tuition assistance to drill-status members of the Air National Guard, consistent with the program available to the Army National Guard. The legislation is supported by the National Guard Association of the United States (NGAUS).
    “The men and women in the Air National Guard work alongside their active-duty counterparts to protect our nation and serve our communities,” said Sen. Moran. “Providing the same educational benefits to the Air National Guard that the Army National Guard receives will help increase recruitment rates and make certain our servicemembers have access to the benefits they deserve.”
    “Our Air Guard members deserve to receive the same benefits as their counterparts, both in the reserve and active duty components of the military,” said Sen. Hoeven. “Our legislation makes the Air Guard FTA pilot program that we first worked to establish in 2020 permanent and available to drill-status Guard members across the country. Doing so will ensure the Air Guard, like the Happy Hooligans in Fargo, can continue to recruit the best and brightest members to support the increasingly high-tech missions they take on in defense of our nation.”
    “Ensuring that the brave women and men serving in the Air National Guard have access to educational opportunities will not only help our recruitment and retention, but will also enhance our overall military preparedness and provide service members the benefits they deserve,” said Sen. Shaheen. “Passing our bipartisan legislation will make tuition more affordable for the Air National Guard and bring their educational benefits in line with the other service branches. Let’s get this done.”
    “Colorado is home to over 1,500 Air National Guardsmen whose dedication and sacrifice helps keep our state and country safe,” said Sen. Bennet. “Our bipartisan bill will help attract, develop, and retain members of the Air National Guard and ensure servicemembers nationwide have the educational benefits they deserve.”
    “We must take care of the servicemembers who take care of our nation. One way to show our gratitude is to invest in their future through federal tuition assistance,” said retired Maj. Gen. Francis M. McGinn, President of NGAUS. “We must equally provide for our Soldiers and our Airmen. This bill corrects a long-standing gap in National Guard benefits and will empower our Airmen to reach new heights in knowledge and skill. We thank Senators Hoeven and Shaheen for their efforts and continued support of the National Guard.”

    MIL OSI USA News –

  • MIL-OSI Security: New Orleans Man Guilty of Commodity Exchange Act Violation

    Source: Office of United States Attorneys

    NEW ORLEANS, LA – Acting U.S. Attorney Michael M. Simpson announced today that MICHAEL BRIAN DEPETRILLO, (“DEPETRILLO”), age 43, from New Orleans, pled guilty on February 18, 2025 to violating the Commodity Exchange Act, in violation of Title 7, United States Code, Section 13(a). DEPETRILLO faces up to ten (10) years imprisonment, up to three (3) years of supervised release, up to a $1,000,000.00 fine, plus the amount of any proceeds, and a mandatory $100 special assessment fee.

    According to court documents, DEPETRILLO was not properly registered as a Commodity Pool Operator (“CPO”) or an Associated Person (“AP”) of a CPO with the United States Commodity Futures Trading Commission (“CFTC”). DEPETRILLO, through various companies including, Meteor, LLC; NOLA FX Capital Management, LLC; ELC Enterprise Solutions, LLC; and Argosapolis, LLC, acted as a CPO and AP of a CPO and embezzled client funds in violation of federal law.     DEPETRILLO, while acting as an AP of unregistered CPOs, represented to victim investors that their funds would be pooled and invested in the NOLA FX FUND, that, in turn, would be used to trade foreign currency pairs on a leveraged, margined, or financed basis (“retail forex”).

    DEPETRILLO told investors that pooling their funds would be beneficial to them.  DEPETRILLO further represented, to certain investors, that either METEOR or NOLA FX CAPITAL managed the NOLA FX FUND.  In at least one representation, however, DEPETRILLO identified “NOLA FX Capital,” not the NOLA FX FUND, as the pooled investment vehicle.  DEPETRILLO lured investors by claiming he was investing their funds by trading in the foreign currency exchange, gold futures options, stocks, and cryptocurrency.  Instead of trading as promised, DEPETRILLO misappropriated pool funds.  DEPETRILLO then used these misappropriated pool funds to pay approximately $3,700,000 in “returns” to prior investors; approximately $575,000 on his own personal investments; approximately $425,000 on rent; approximately $200,000 on private air travel; and approximately $300,000 on online gambling, among other personal expenses.  To conceal DEPETRILLO’s misappropriation, he created and issued fictitious account statements in the names NOLA FX FUND and NOLA FX CAPITAL.  The fictitious account statements purported to show that: (1) DEPETRILLO had traded forex using pool participant funds, and (2) the NOLA FX FUND and NOLA FX CAPITAL had achieved significant trading returns for pool participants because of his profitable forex trading.  In fact, DEPETRILLO never deposited pool participant funds into trading accounts belonging to NOLA FX FUND or NOLA FX CAPITAL, and he never achieved the trading returns represented on the false account statements.  DEPETRILLO also did not set up the forex pool in the manner required by the regulations, did not receive pool participant funds in the name of the forex pool, and commingled pool participant funds with his own funds.  DEPETRILLO took in approximately $9.2 million in investor funds from approximately 55 victim investors during a seven-year period.

    Sentencing in this matter is scheduled for May 25, 2025, before United States District Judge Jay C. Zainey.

    The case is being investigated by the Federal Bureau of Investigation (“FBI”).  The FBI is seeking information that may help identify potential victims of DEPETRILLO’s fraudulent scheme.  FBI encourages the public to report any information to http://fbi.gov/depetrillovictims.

    The prosecution of this case is being handled by Assistant United States Attorneys Kathryn McHugh of the Financial Crimes Unit and Brian M. Klebba, Chief of the Financial Crimes Unit.

    MIL Security OSI –

  • MIL-OSI: “Is mediocrity good enough?” – ZimCal asks Medallion Financial stockholders

    Source: GlobeNewswire (MIL-OSI)

    • 4Q24 Medallion Bank earnings continue disturbing downward trend
    • Consolidated Medallion Financial Corp earnings have not yet been released
    • Due to lower Bank earnings, Medallion Financial may struggle to pay dividends, operating expenses and a possible SEC penalty with existing cash
    • Medallion Financial and Andrew Murstein face a looming SEC settlement
    • Despite predictable down-trending results, executives were paid record compensation in 2023
    • ZimCal believes that Medallion Financial Corp has huge upside with the right governance and leadership
    • ZimCal previously provided MFIN with versions of its “5 Steps to Improvement” plan that anticipated current risks and negative trends and urges management to take decisive, proactive action

    Full analysis with graphs can be accessed here.

    MINNEAPOLIS, Feb. 19, 2025 (GLOBE NEWSWIRE) —

    Medallion Bank (the “Bank”) recently released its 4Q24 earnings. Medallion Financial Corp (“MFIN” or the “Company”) will be releasing consolidated earnings shortly, along with important updates on a possible SEC settlement involving fraud and touting charges against Andrew Murstein, President and Board Member of MFIN, that has cost shareholders an estimated $8 million in legal fees to defend.

    The Bank represents approximately 95%i of MFIN’s consolidated revenues. On almost all metrics, financial performance is down. Frustratingly, MFIN has lagged in areas that ZimCal Asset Management LLC (“ZimCal”, “We”, “Our”) predicted almost 16 months ago.

    ZimCal remains one of MFIN’s largest investors and has been invested for 4 years. Had MFIN and its board listened to us in 2023 and taken proactive steps to mitigate risk, enhance its operations, resolve the SEC complaint and numerous other detailed suggestions ZimCal offered to increase enterprise value, we believe MFIN would be trading at a substantial premium to its current value.  

    Against the backdrop of healthy consumer data, and booming stock and credit markets, we ask MFIN stockholders – are you happy with such glaring underperformance or do you think the Company can do better? Are you satisfied with MFIN’s President being sued by the SEC for alleged fraud and yet earning tens of millions in compensation even as MFIN’s stock is down, and its unadjusted and core returns are at their worst in over 4 yearsii?  

    We will withhold our full analysis until MFIN’s earnings are released, but we note a few key points about the Bank’s earnings – divided into positives and negatives.

    Full analysis with graphs can be accessed here.

    POSITIVES IN 4Q24 MEDALLION BANK EARNINGS

    1. Asset growth is flat
    If this is driven by a reluctance on the Bank’s part to lower underwriting standards simply to increase growth this is positive. Chasing returns by recklessly opening the credit box would be a mistake. If this is driven by constraints on lending because the Bank’s capital ratio of 15.6% is just above the 15% mandatory minimum, then this is problematic. For similar reasons, we support a robust loan origination and sale or securitization strategy to augment interest income, but we think the 1Q25 loan sales are problematic if they are driven by an effort to juice near-term earnings and avoid breaching the Bank’s minimum leverage ratio.

    2. Allowance for credit losses (ACL) has been increased to cover future losses, driven by Recreation ACL
    ACL for Recreation loans specifically increased to 5.00% at 4Q24 from 4.31% at 4Q23. Since 2024, charge-offs have also increased, indicating an effort by the Bank to better recognize the threats of future charge-offs and provision accordingly. We felt that the Bank under-provisioned in the last crisis to artificially boost earnings; we are supportive of their decision to avoid doing so now.

    NEGATIVES IN 4Q24 MEDALLION BANK EARNINGS

    1. Consumer credit quality continues to decline, driven by Recreation
    Recreation loans made up ~65% of total loans at 4Q24. Subprime Recreation was an estimated 35% of Recreation loans or ~$550 million at 4Q24. This borrower demographic will be more stressed by higher for longer rates, inflation and a potentially softening labor market. Despite the Bank’s increased loss allowances, we remain concerned about quarterly consumer charge-offs, which are now at their highest since 2010 and well above the most recent peak in 2019 (Figure 1 below or here). We are concerned that this could get worse. We have beaten our head against the wall for 16 months urging MFIN to proactively mitigate these risks (see letter here from October 2023) but without success.

    2. Net Interest Margin (NIM) continues to be pressured by expensive funding costs
    Quarterly NIM declined to 8.28% at 4Q24 from 8.75% a year ago at 4Q23. This is the lowest quarterly NIM since 2019 when we started tracking this for the Bank. This was mainly driven by higher funding costs and an inability to materially raise loan yields. As predicted, the Bank’s cost of funds (almost entirely CD deposits) continued to trend higher and reached an estimated 3.95% at 4Q24iii. We have noted that a Bank CD portfolio with a 1.8 year weighted average maturity and 36% of CDs maturing in 2024 as of 12/31/23iv, would have rates that would lag benchmark rate increases on the way up (boosting NIM) but would also lag benchmarks on the way down (hurting NIM). We have tracked brokered CD rates through one of the largest platforms since September 2024 and note that while short-term CD (less than 1-year) rates are down, 1, 2 and 5-year CD rates are UP since 09/30/24 and 12/31/24. (See Figure 2 below or here). This shows that NIM pressure will persist.

    3. Earnings have declined YoY despite being boosted by a “noisy” allowance release
    Core net earnings available to common stockholders were $10.3 million in 4Q24 after eliminating $3.9 million in provision reversals and $900,000 in non-core Taxi Medallion recoveries (adjustment to earnings is after taxes). Unadjusted earnings were $14 million. If the Bank were a standalone entity, this would be mediocre but manageable. But when you pile on high holding company expenses and debt service, this is unsustainable. The Bank paid a dividend of $6MM to the holding company in 4Q24 leaving only $4.3MM in core earnings to boost capital levels and fund future loan growth. As we noted in our last earnings commentary, quarterly earnings for MFIN in 2024 are the lowest they have been on an unadjusted and adjusted basis since the last stages of the Taxi Medallion implosion in 2020. Bank ROAA and core ROAA (excluding non-core Taxi Medallion recoveries) we calculated at 2.50% and 1.65% respectively at 4Q24. This core ROAA is dangerously low for a consumer lender and leaves little room for error. Lowered earnings are one of the reasons the Bank’s parent company (MFIN) had to borrow $10 million in 2024 to pay $9.5 million in dividends and share buybacks through 3Q24. The Bank continues to “carry” the weight of its parent, which is reliant on the Bank for upstreamed dividends to fund its expenses and pay its expensive debt.

    We believe that Medallion Bank (and MFIN) have tremendous upside but only with the right Board and leadership. We encourage investors to review www.restoretheshine.com for details on the 2024 proxy contest to replace 2 incumbent directors, where, despite insider ownership that gave MFIN a 44% leadv, ZimCal still earned 22% of stockholder votes with over 1 in 4 stockholders voting against MFIN’s compensation plan. We believe that MFIN’s board of directors (the “Board”) has shown weak governance and is beholden to the Murstein family rather than to all stockholdersvi. We also believe that MFIN’s management team is overpaid and must be improvedvii. We believe that it is ludicrous to pay MFIN’s President $6.5 million or 19% of MFIN’s core earningsviii at FYE23, significantly higher than all but one of MFIN’s self-selected peersix and comparable to the highest paid Wall Street hedge fund managers. Until we see positive changes, we will work to hold MFIN’s Board and management team accountable and believe the potential for the Company is extraordinary.

    Visit www.restoretheshine.com for more information or read our 5 Steps to Improvement.
    ZimCal will issue ongoing press releases with updates and details on its plan to “Restore the Shine” to Medallion Financial Corp.

    About ZimCal Asset Management, LLC
    ZimCal Asset Management is an alternative investment firm focused primarily on niche, illiquid and complex credit investment opportunities.

    ZimCal Asset Management partners with both healthy and distressed borrowers or issuers and provides customized solutions that meet their unique needs and circumstances. Over the last 15 years, the founder of ZimCal Asset Management has developed a specialization investing in FDIC-insured institutions and has partnered with over 120 bank lenders through investments on both sides of the balance sheet.

    ZimCal usually works in collaboration with bank leadership teams if required, but on very rare occasions, must insert itself more forcefully if it believes that leadership is underwhelming and threatens to undermine stakeholder investments. ZimCal prides itself on performing extensive, rigorous financial analysis and research to fully understand the risks of any investment.

    Important Information and Disclaimer
    ZimCal Asset Management, LLC, and its affiliates BIMIZCI Fund, LLC, Warnke Investments LLC and Stephen Hodges (collectively, “ZimCal” or “we”), are, directly or indirectly, owners of securities of Medallion Financial Corp. (the “Company”). ZimCal currently has combined investment exposure of $15,604,000 million to the Company, comprised of $15 million par value of Trust Preferred Securities (backed by the Company’s issued debt), and 76,122 shares of the Company. We are not currently engaged in any solicitation of proxies from stockholders of the Company. ZimCal intends to monitor the performance and corporate governance of the Company, as well as the actions of the Company’s management and board. As ZimCal deems necessary, ZimCal will assert its stockholder rights.

    Except as otherwise set forth herein, the views expressed reflect ZimCal’s opinions and are based on publicly available information with respect to the Company. We recognize that there may be confidential information in the possession of the Company that could lead it or others to disagree with our conclusions. ZimCal reserves the right to change any of its opinions expressed herein at any time as it deems appropriate and disclaims any obligation to notify the market or any other party of any such change, except as required by law. We disclaim any obligation to update the information or opinions contained herein.

    The information herein is being provided merely as information and is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security.

    Some of the information herein may contain forward-looking statements. All statements contained herein that are not clearly historical in nature or that depend on future events are forward-looking. The words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. There can be no assurance that any forward-looking statements will prove to be accurate and therefore actual results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. In light of the significant uncertainties inherent in forward-looking statements, the inclusion of such information should not be regarded as a representation as to future results or that the objectives and strategic initiatives expressed or implied by such forward-looking statements will be achieved.

    i Source: MFIN 10K/Qs
    ii See www.restoretheshine.com and MFIN 10K/10Qs
    iii Source: Medallion Bank 4Q24 8K. This is based on the Bank’s annual average CD rate of 3.57% at 4Q24.
    iv Source; MFIN 2024 10K
    v Source: MFIN DEF14A. Insider ownership derived from recent disclosures by MFIN. Insiders owned ~7 million shares and total votes cast were 16 million. We have assumed that all insiders voted and voted against ZimCal. See here for full SEC filing on stockholder meeting voting results.
    vi See www.restoretheshine.com for why we believe the Board is not fulfilling its fiduciary responsibilities to stockholders. Also see Section 1 and Section 2 of the plan for further examples.
    vii See www.restoretheshine.com for why we believe Management, specifically Andrew Murstein, is overpaid relative to bank peers, proxy peers and in terms of absolute performance. Also see Section 1 of the plan for further examples.
    viii See www.restoretheshine.com for comparisons to larger, top performing banks and proxy peers selected by MFIN
    ix See viii above.

    The MIL Network –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 19.02.2025

    Source: GlobeNewswire (MIL-OSI)

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

    Nokia Corporation: Repurchase of own shares on 19.02.2025

    Espoo, Finland – On 19 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 1,396,657 4.74
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,396,657 4.74

    * 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 19 February 2025 was EUR 6,621,272. After the disclosed transactions, Nokia Corporation holds 253,189,663 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 which is celebrating 100 years of innovation.

    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 Global: Canada’s cuts to newcomer English language programs puts communities’ well-being at risk

    Source: The Conversation – Canada – By Natalia Balyasnikova, Assistant Professor of Adult Education, York University, Canada

    The impact of of Immigration Refugees and Citizenship Canada’s 2024-25 department plan, released about a year ago, are only now starting to become clear in cities across Canada.

    Whether it’s colleges in Vancouver, Lethbridge or Toronto, many federally funded English-language training programs are experiencing crushing funding cuts resulting in closures, layoffs and fewer classes available.



    Read more:
    To really narrow digital divides, Canada should consistently fund adult education programs

    At risk is the future of Language Instruction for Newcomers to Canada (LINC) — a federally funded program that has been running since 1992.

    Instead of further cutting funding to LINC, the government should expand the programming in recognition that learning a language is about much more than acquiring a discrete set of skills.

    Importance of language programs

    The LINC program has 60 assessment sites across the country and has served roughly 50,000-60,000 learners per year.

    Language learning programs expecting to receive the most significant cuts will be those focused on building employment skills and preparing learners for higher education.

    Rather than the reducing barriers to newcomers’ employment as promised, the changes will make it more difficult for newcomers to access the language learning programs needed for work and life.

    Immigration is central

    The IRCC states “immigration is central to our future” and that its sustainable development strategy remains committed to addressing the barriers to employment and social belonging that newcomers face.

    While not without critique, LINC classes have an important function beyond helping newcomers acquire language skills.

    Through these programs, newcomers build confidence to be able to advocate for themselves, develop a sense of citizenship, contribute to values of equality, respect and rights and access resources essential for life in Canada. All of these contribute to one’s sense of belonging.

    Addressing connection, community

    There is strong evidence that learning in groups reduces isolation, loneliness and feelings of unbelonging, and increases sense of community and connection for immigrants.

    Research shows that learning activities that have goals beyond developing practical language skills such as drama and poetry are opportunities to build a sense of community, empowerment and belonging to facilitate intercultural dialogue.

    They also contribute to the development of learners’ resilience and leadership.



    Read more:
    Theatre shows how the art of inclusion can help build a better Canada

    A vision for sustainability

    Canada is often portrayed as a tolerant and welcoming country, a stronghold of multiculturalism and multilingualism. Canada has made promises to build a nation that is economically, socially and culturally prosperous.

    To make this promise sustainable, it is essential to continue addressing the complex needs of newcomers, especially by ensuring access to inclusive and quality education throughout their lives.

    IRCC’s choice to cut funding is influenced by a short-term economic model that seems to forget that nearly 20 per cent of Canada’s population are new permanent residents.

    These residents should have access to learning offerings and intercultural socialization opportunities. These would ideally include offerings centred on critical conversations, discussions of shared experiences, visions for life in Canada and building allyships between new immigrants and long-time citizens. Such learning, socialization and relationship-building opportunities could be made accessible through LINC.

    Social stratification concerns

    By reducing funding available for English-language classes, the federal government is denying thousands of people their fundamental right to education. The current budget cuts will inevitably contribute to growing social stratification and increase the challenges faced by the already overwhelmed immigration and educational sectors.

    A recent statement by TESL Ontario, the certification body for educators who teach English as another language in Ontario, urges the Canadian government to consider impacts on language teachers who face precarious employment and low pay, a concern shared by unions across the public sector.

    Language learning programs are foundational to ensuring sustainable settlement in Canada. A truly sustainable development strategy would see the continued funding of English-language programs as essential to ensuring the continued economic and societal well-being of all people living in Canada.

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

    – ref. Canada’s cuts to newcomer English language programs puts communities’ well-being at risk – https://theconversation.com/canadas-cuts-to-newcomer-english-language-programs-puts-communities-well-being-at-risk-249103

    MIL OSI – Global Reports –

  • MIL-OSI New Zealand: Proposed health, safety and wellbeing guidance for transitional facilities

    Source: Ministry for Primary Industries

    Have your say

    From 20 February to 3 April 2025 the Ministry for Primary Industries (MPI) invites comment on a proposed new health, safety, and wellbeing guidance document for transitional facilities.

    We intend it to be read alongside the Standard for Transitional Facilities for General Uncleared Risk Goods (TFGEN) and the TFGEN guidance document (TFGEN-GD).

    A summary of the proposed changes is on this page. Full details are in the consultation documents.

    Submissions close at 5pm on 3 April 2025.

    What’s being proposed?

    We want your feedback about the proposed health, safety and wellbeing guidance document (TFGEN-GD-HSW).

    We’re also proposing changes to the TFGEN Standard, which include:

    • incorporating health and safety guidance information relating to biosecurity requirements and practices of TFGEN
    • adding references to the TFGEN-GD-HSW throughout the document.

    There are no proposed changes to existing TFGEN Standard requirements, nor have we reviewed the TFGEN guidance document. The existing biosecurity requirements of the TFGEN Standard and its guidance document are out of scope for this consultation.

    Note that:

    • the TFGEN-GD-HSW and the proposed guidance within the TFGEN Standard are guidance only
    • there are no new requirements being placed on transitional facilities, nor will there be any additions to the scope of the audits that MPI undertakes
    • the TFGEN-GD-HSW is outcome-focused. Transitional facility operators will be responsible for determining the best approach to meet these outcomes, ensuring alignment with their duties under the Health, Safety and Wellbeing Act 2015.

    Full details are in the discussion document.

    Why we’re making these changes

    Under the Health and Safety at Work Act 2015, MPI has a primary duty of care to its staff to ensure that they can work in a safe environment, and that risks to their health, safety, and wellbeing are eliminated or minimised.

    Transitional facilities have significant influence over the safety of MPI staff working on their sites. MPI also shares duties with transitional facilities related to ensuring the health, safety, and wellbeing of workers within the biosecurity system.

    MPI has developed this proposed guidance document to fill the need for comprehensive and proactive communication with all transitional facilities about health and safety risks and risk management, and to protect all workers – from MPI inspectors to facility staff.

    The guidance is intended to assist, not replace, the transitional facility operator’s own duties under the Health and Safety at Work Act 2015. Because MPI is not a health and safety regulator, the guidance does not hold the same significance as the guidance issued by regulators like WorkSafe and Maritime New Zealand.

    The proposed health, safety, and wellbeing guidance document and the proposed updates to guidance in the TFGEN Standard do not reflect a change in MPI’s expectations, but rather a shift from reactive to proactive management.

    Attend an online webinar

    MPI will host online webinars during the consultation period to further explain the proposed changes and enable stakeholders to ask questions. Transitional facility operators and related stakeholders will receive details of the webinars by email. If you are interested in attending a webinar and have not received an email, contact standards@mpi.govt.nz

    Consultation documents

    Draft Health, Safety, and Wellbeing Guidance Document [PDF, 399 KB]

    Draft Transitional Facilities for General Uncleared Risk Goods – Facility Standard [PDF, 713 KB]

    Discussion document: Health, safety and wellbeing guidance for transitional facilities [PDF, 368 KB]

    Related document

    HSE Global Report – Transitional Facility Health & Safety Observations [PDF, 945 KB] 

    Making your submission

    Email your feedback on the draft TFGEN-GD-HSW document before 5pm on 3 April 2025 to Standards@mpi.govt.nz

    We encourage you to use the TFGEN-GD-HSW submission form [DOCX, 1.3 MB]

    While we prefer email, you can send your submission by post to:

    Transitional Facilities HSW Guidance, Biosecurity Import and Export Standards
    Ministry for Primary Industries
    PO Box 2526
    Wellington 6140
    New Zealand.

    Make sure you include the following in your submission:

    • the title of the consultation document in the subject line of your email
    • your name and title, if applicable
    • your organisation’s name (if you’re submitting on behalf of an organisation)
    • your contact details (for example, phone number, address, and email)
    • any requests for confidentiality of specific information you provide.

    All submissions received by the closing date will be considered before the proposed draft TFGEN Standard and proposed TFGEN-GD-HSW document are issued. MPI may hold late submissions on file for consideration when the standard is next reviewed.

    Next steps after this consultation closes

    After we have considered all submissions, we will make a final decision on which amendments will be made to the TFGEN Standard and TFGEN-GD-HSW document. 

    Submissions are public information

    Note that all, part, or a summary of your submission may be published on this website. Most often this happens when we issue a document that reviews the submissions received.

    People can also ask for copies of submissions under the Official Information Act 1982 (OIA). The OIA says we must make the content of submissions available unless we have good reason for withholding it. Those reasons are detailed in sections 6 and 9 of the OIA.

    If you think there are grounds to withhold specific information from publication, make this clear in your submission or contact us. Reasons may include that it discloses commercially sensitive or personal information. However, any decision MPI makes to withhold details can be reviewed by the Ombudsman, who may direct us to release it.

    Official Information Act 1982 – NZ Legislation

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: NZCTU welcomes passage of wage theft bill

    Source: Council of Trade Unions – CTU

    The Crimes (Theft by Employer) Amendment Bill passing committee stage in the House is a win for workers, said NZCTU Te Kauae Kaimahi President Richard Wagstaff. The Bill, which amends the Crimes Act 1961 to clarify that not paying an employee their wages is theft, will now head to Third Reading.

    “We are thrilled that this Bill is making its way through the House and looks set to become law,” said Wagstaff.
     
    “Theft is theft. It’s past time that the legal system recognises that ‘theft by employer’ is every bit as serious and criminal as any other type of theft.
     
    “Currently, workers who suffer theft of their wages or minimum entitlements only have civil remedies available to them. Workers must spend their own money to argue their case in the court or the Authority, a cost that is too high for many. Too often cases of ‘theft by employer’ go unpunished and unresolved.
     
    “We acknowledge Camilla Belich and Ibrahim Omer for their leadership on this issue and thank all political parties who have supported it.
     
    “At a time when the workers’ rights in Aotearoa are under attack, we welcome this win for working people,” said Wagstaff.

    MIL OSI New Zealand News –

  • MIL-OSI Economics: DG Okonjo-Iweala to members: Use the WTO as a platform to engage

    Source: World Trade Organization

    “It is imperative that we continue to strengthen the multilateral trading system, ensuring that it remains a source of stability and opportunity for all members,” DG Okonjo-Iweala said. “The WTO was created precisely to manage times like these — to provide a space for dialogue, prevent conflicts from spiralling, and support an open, predictable trading environment.”

    “Let us make full use of this platform to engage with one another in good faith, address concerns constructively and calmly, and explore cooperative solutions that uphold and enhance the balance of global trade relations.”

    A total of 32 members took the floor following the Director-General’s remarks. Overall, members emphasized the importance of the WTO in fostering global economic growth and development, particularly for developing and least developed countries. Many who took the floor called for restraint in actions that could undermine the system and stressed the importance of upholding the WTO’s principles and rules.

    DG Okonjo-Iweala said she has been meeting with WTO members to discuss the broader geopolitical landscape and explore how the organization can approach the situation. “The key message I have shared is that amid the current uncertainties, we must maintain cool heads and remain open to dialogue,” she said.

    She informed members that Secretariat staff is upgrading the WTO’s Tariff Analysis Online database based on member feedback. The new database, to be called WTO Tariff And Trade Data, will be launched in the WTO’s Committee On Market Access on 4 March.

    “This will be a much more user-friendly system that will facilitate tariff and trade analysis,” she said. As you consider today’s emerging tariff issues, the Secretariat is there to assist any member requiring assistance in analysing the tariff situation.”

    In her intervention, DG Okonjo-Iweala underlined the importance of using the current situation to push ahead with reform of the WTO.

    “I encourage all of you to view this moment as an inflection point — an opportunity to think more strategically and purposefully about what we want from this organization and how we can make it more results-driven,” she added.

    DG Okonjo-Iweala said leaders, ministers and stakeholders she has met with in recent weeks “expect the WTO to address longstanding issues and respond to today’s global trade landscape … it’s time to return to the negotiating table in earnest.”

    This means making substantial progress in the agriculture negotiations a top priority. It also means members should use early 2025 to ensure the entry into force of the Agreement on Fisheries Subsidies; make a concerted effort to wrap up the second wave of the fisheries subsidies negotiations; reach a mutually agreeable solution regarding the incorporation of the plurilateral Investment Facilitation for Development Agreement (IFDA) and the Agreement on Electronic Commerce into the WTO legal framework; continue progress on dispute settlement reform; and move ahead on development issues, DG Okonjo-Iweala said.

    “The world has changed,” DG Okonjo-Iweala said. “We cannot come here to continue doing the same things we’ve been doing.”

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  • MIL-OSI Economics: Somalia successfully kick-starts its WTO accession process

    Source: WTO

    Headline: Somalia successfully kick-starts its WTO accession process

    Somalia’s Deputy Prime Minister Salah Ahmed Jama led the high-level delegation in Geneva. Several government officials from a wide range of ministries and agencies joined virtually from Mogadishu. Mr Jama said that Somalia’s first Working Party meeting marks “a historic moment in the country’s journey toward economic recovery, integration into the global trading system, and the realization of the nation’s aspirations for sustainable development and prosperity.
    “Somalia today is a nation on the rise, one that departed with the challenges of the past and has keenly focused on a prosperous future. Our government, under the leadership of His Excellency President Hassan Sheikh Mahamoud, has indeed embarked on very transformational changes,” he said.
    “For Somalia, WTO membership is not merely an end goal but a vital mechanism to achieve sustainable economic growth, attract investment, and create meaningful opportunities for our people. We are dedicated to aligning our trade policies with global standards, enhancing institutional capacity, and ensuring that our economic transformation is inclusive and equitable, benefiting all segments of society,” he added.
    Sadiq Abdikarim Haji Ibrahim, WTO Chief Trade Negotiator, recognized WTO accession as a rigorous process requiring transparency, policy coherence, and sustained engagement. He said that Somalia approaches this process with openness and a constructive spirit. “We are ready to work closely with WTO members to address concerns, provide necessary clarifications, and reaffirm our commitment to a rules-based trading system,” he stated.
    WTO Deputy Director-General Xiangchen Zhang highlighted Somalia’s strong political will and commitment to moving the accession process forward. “Today is a historical moment for Somalia, but it is just the beginning of a journey where I am sure Somalia will make its own history, as Comoros and Timor-Leste did recently. They are both least developed countries and fragile and conflict-affected states, who can serve as a good model and inspiration for Somalia.” His statement is available here.
    The Chair of the Working Party on the Accession of Somalia, Ambassador Nina Tornberg of Sweden, stated that Somalia has advanced technical work and stepped up its political engagement in the past few years, recalling her meeting with President Hassan Sheikh Mohamud in June 2024.
    She added that the Working Party noted Somalia’s strong commitment to economic integration, both at the multilateral and regional level. “As Somalia joined the East African Community (EAC) in 2024, it is crucial to ensure coordination at all levels between EAC membership and WTO accession, to enable Somalia to focus on priority reforms and reinforce its economic resilience,” she said.
    Members welcomed Somalia’s renewed commitment to joining the WTO, emphasizing the importance of the accession for the country’s integration into global trade and for its stability. Delegations acknowledged Somalia’s constraints as an LDC and committed to supporting Somalia’s accession process. Members said they are looking forward to discussing Somalia’s efforts to align its regulations with WTO rules, while providing support and guidance throughout the accession process.
    Moving forward, Ambassador Tornberg invited the WTO Secretariat to prepare a Factual Summary of Points Raised based on the exchanges held, which will guide the continued examination of Somalia’s trade regime. Somalia was requested to submit a comprehensive set of negotiating inputs before the next Working Party meeting. The Chair said that, given Somalia’s interest in advancing its accession process, the aim would be for the next meeting to take place towards the end of the year, subject to the availability of the required inputs.
    The Working Party meeting took place immediately before the 4th edition of the Trade for Peace Week, which has featured several sessions focused on Somalia and has discussed the private sector’s role for sustainable peace and stability.  
    The Working Party meeting was followed on 18 February by a Round Table on Technical Assistance for Somalia’s WTO Accession. The round table was attended by several members and developing partners, including the East African Community Secretariat, the European Investment Fund (EIF), the International Trade Centre (ITC), UN Trade and Development (UNCTAD) and the World Bank, which provide capacity-building support to Somalia. The discussions aimed at presenting Somalia’s accession-related needs in terms of technical assistance and capacity building and coordinating available and future support.
    Background
    Somalia has the longest coastline on the African continent and a population of approximately 18 million. With an economy highly dependent on livestock production, the government has committed itself over recent years to developing key sectors of the Somali economy, with special emphasis on economic enablers such as energy, transportation and financial markets.
    Somalia submitted its application for WTO accession, signed by President Hassan Sheikh Mohamud, in December 2015 during the 10th Ministerial Conference (MC10) in Nairobi, Kenya. The General Council established the Working Party on 7 December 2016. Somalia was a central part of the g7+ WTO Accessions Group launch during the 11th Ministerial Conference in Buenos Aires in 2017, inspiring the vision for the creation of the Trade for Peace Programme.
    More information on this accession is available here.

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  • MIL-OSI Economics: DG Okonjo-Iweala meets Ethiopia’s PM, Steering Committee to accelerate WTO accession

    Source: WTO

    Headline: DG Okonjo-Iweala meets Ethiopia’s PM, Steering Committee to accelerate WTO accession

    During her stay in the Ethiopian capital, DG Okonjo-Iweala met with a number of African Heads of State and Government and engaged on WTO matters.
    DG Okonjo-Iweala and  Prime Minister Abiy Ahmed Ali exchanged views on Ethiopia’s ambitious economic reforms, noting how the recent liberalization of key sectors such as banking and telecommunications and the introduction of market-based foreign exchange policies can advance the accession process.
    The meeting took place ahead of the 5th meeting of the Working Party on the Accession of Ethiopia, to be held at the WTO on 19 March. The Working Party will formally resume its work following a five-year pause since the 4th meeting in 2020.
    The Prime Minister reiterated Ethiopia’s commitment to integrating into the global trading system. He highlighted the government’s ongoing efforts to finalize the necessary requirements for WTO accession, including through the Home-Grown Economic Reform Agenda. DG Okonjo-Iweala welcomed the Prime Minister’s strong support for the process, expressing the WTO’s readiness to work together with Ethiopia to achieve its goal of WTO membership.
    DG Okonjo-Iweala also met with members of Ethiopia’s Steering Committee on WTO Accession, chaired by Minister of Trade and Regional Integration and Chief Negotiator Kassahun Gofe Balami. The Steering Committee, which comprises senior officials from key ministries and government bodies, is tasked to take policy decisions linked to the accession process. It recently visited the WTO in preparation for the reactivation of the accession negotiations.
    DG Okonjo-Iweala expressed appreciation for the serious engagement by the Steering Committee to drive the necessary work toward its conclusion by MC14 in Cameroon. The meeting discussed various steps in the accession roadmap which would guide the finalization of the negotiations.    
    On the margins of the AU Summit, DG Okonjo-Iweala also met with President Hassan Sheikh Mohamud of the Federal Republic of Somalia to exchange views on the accession of Somalia to the WTO. On 17 February, the delegation of Somalia, led by Deputy Prime Minister Salah Ahmed Jama, successfully concluded the 1st meeting of the Working Party.

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  • MIL-OSI Economics: Need to deepen discussions on WTO reform highlighted at General Council meeting

    Source: World Trade Organization

    “We are facing a new reality,” Ambassador Ølberg, the outgoing Chair of the General Council, told members. “We must all understand that some of our fundamental values and principles are being challenged. It’s not business as usual anymore for any of us. It’s not the time for any of us to insist on old positions or speaking points. We must engage in real dialogue.”

    Ambassador Ølberg said the new reality underlined the need for fundamental reform of the WTO. At MC12, WTO members for the first time agreed to undertake a comprehensive review of the WTO’s functions in order to ensure the organization is capable of responding more effectively to both the challenges facing the multilateral trading system and the opportunities provided by contemporary developments in global trade.

    “We should be open to reform, real reform, not baby steps,” he said. “Only then can our common WTO have a future. It’s up to us.” Channelling a Bob Dylan song, he warned members that “the times, they are a-changing”.

    The need to accelerate and deepen the reform as the WTO marks the 30th anniversary of its founding was highlighted by a number of members under several agenda items during the two-day General Council meeting.

    Ambassador Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia), who took over as General Council chair towards the conclusion of the meeting, said he was also “keenly aware of the significant challenges and opportunities that lay ahead.”

    “The global trading landscape is undergoing profound changes, driven by economic uncertainty, geopolitical shifts, technological advancement and an urgent imperative for sustainable and inclusive growth,” Ambassador Almoqbel said. “These dynamics demand that we, as a membership, work together with renewed momentum and unity to ensure that the WTO remains a cornerstone of the rules based multilateral trading system.”

    The new Chair declared that the WTO’s 14th Ministerial Conference (MC14) set to take place in Cameroon in March 2026 “must be a transformative event that delivers tangible results, reinforces our shared values, and strengthens the WTO’s relevance in an increasingly complex and interconnected world.”

    Earlier in the meeting, Director-General Ngozi Okonjo-Iweala also underlined the importance of WTO reform.

    “It seems to me an opportune time to launch some serious reflections on the system, with a view to seeing what works, what doesn’t work, and how we reform it,” she told members. “I know that we’ve been engaged in reforms here in Geneva, especially the work of reform by doing … but I think it’s time to elevate the level, depth and breadth of the reforms, to take a thorough look at the organization and make sure it’s really fit for 21st century global trade challenges.”

    Such an in-depth look, she suggested, would be best carried out by an independent panel of eminent persons, chaired by a respected political leader and comprising experts in both technical trade issues as well as the political economy of trade. Members would have a chance to nominate persons to this group to enable balance and ownership, but the group would operate independently.

    The independent panel’s recommendation or interim report could be sent to ministers to deliberate over at MC14 if ready, depending on how quickly the work could be done, DG Okonjo-Iweala said. This is not a new idea, she said, noting that similar work was undertaken by former GATT and WTO Directors-General Arthur Dunkel and Supachai Panitchpakdi during their terms, albeit at a more technical level. Furthermore, during a recent development retreat, members also suggested the need for such a reform exercise, DG Okonjo-Iweala noted.

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  • MIL-OSI USA: Rosen Calls On Trump Administration to Take Immediate Action to Lower Egg Prices

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)
    WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV) sent a letter urging Secretary of Agriculture Brooke Rollins to use every tool at her disposal to help lower the surging cost of eggs. In her letter, Senator Rosen expressed her concern about the skyrocketing price of eggs and asked the Trump Administration to take immediate action to address the bird flu epidemic and strengthen the food supply chain to prevent disruptions.
    “Astronomical prices, coupled with a severe egg supply shortage, are hurting hardworking families in my state. My constituents have continued to reach out, concerned that they cannot access this staple item and if they can, it is too expensive for their family to afford. On top of this, overall inflation increased by 3 percent last month. This is further compounding the high egg prices we are seeing because of supply chain deficiencies,” wrote Senator Rosen. “With egg prices expected to climb by another 20 percent this year, it is imperative for USDA to take immediate actions to mitigate this sharp projected increase.”
    “In addition to taking immediate steps to combat the spread of bird flu, I urge you to work with your partners at other federal agencies to address the high costs of eggs and remedy the broader supply chain challenges we are experiencing,” Rosen continued. “This includes working with the Federal Trade Commission to ensure bad actors are not taking advantage of the current dire situation and partaking in price gouging practices that hurt Nevadans.”
    The full letter can be found HERE.
    Senator Rosen has been holding the Trump Administration accountable for their promise to lower costs for hardworking Nevadans. Earlier this month, she took the Senate floor to call out the Trump Administration for its lack of action to lower grocery prices and address the egg shortage. This week, Rosen joined her Senate colleagues in urging President Donald Trump to reject Congressional Republicans’ plans to increase the cost of living for Americans.

    MIL OSI USA News –

  • MIL-OSI Europe: President Calviño’s interview with the Süddeutsche Zeitung

    Source: European Investment Bank

    Interview by Matthias Kolb and Alexander Mühlauer (Süddeutschen Zeitung)

    Nadia Calviño is President of the European Investment Bank (EIB), the largest promotional bank in the world. On behalf of the EU Member States, it is tasked with ensuring stability through investments within and beyond the European Union. So it’s little wonder that the former Deputy Prime Minister of Spain would attend the 61st Munich Security Conference. Shortly before the event, Calviño visited Ukrainian President Volodymyr Zelenskyy in Kyiv, signing investment agreements totalling around  €1 billion. Before beginning her interview with the Süddeutsche Zeitung, the 56-year-old wanted to get one thing straight, right from the start: Europe must realise that we are at a turning point in history.

    Something seems to have ruptured between the United States and the European Union. Trump is talking with Putin about the future of Ukraine, without the EU at the table. The US Secretary of Defense says that America will no longer guarantee security in Europe. And US Vice President J.D. Vance says the greatest risk for Europe is not Russia or China, but the alleged internal threat to freedom of expression. How shocked are you by this?

    Calviño: I’m not shocked, or even surprised. I was certain we would see a fundamental change in transatlantic relations. We Europeans need to remember where our strengths lie, stand up for our interests and defend the rules-based world order from which we have benefited so richly over the past 80 years. And the Americans even more so.

    Isn’t the new US government threatening to destroy this world order?

    I am convinced that good transatlantic relations are strategically important for both sides. We must work to create a new foundation for them. In such turbulent times, it is more important than ever for Europe to stand for stability and reliability – not just within our own borders, but also for the rest of the world. That Europe should do even more to uphold a rules-based world order is something I hear often from our partners across the globe.

    But again, do the United States pose a risk to the global order?

    It is in their interest to preserve the things that have made America great. Institutions like the World Bank, the International Monetary Fund or the World Trade Organization, which we founded together. That’s one reason the US dollar is a global reserve currency. There are many win-win situations to be had from working together, and with Europe. But the most important thing is for us to accept that the world of tomorrow is very different from the world of yesterday.

    “We are at a turning point in history.”

    The European Investment Bank is the world’s largest promotional bank. As its president, what can you do to help Europe stand the test of time in this new world?

    We are at a crucial moment in history. And at a turning point in the geopolitical order. The future will depend on the decisions we make today, and every decision counts.

    What does that mean exactly?

    Since I joined the EIB as president in 2024, I have held talks with all 27 EU Member States and our European and international partners, but also with civil society and industry. For the first time, we have set out a clear Strategic Roadmap. 2024 was a record year for us, in which the EIB signed €89 billion in financing to strengthen Europe’s competitiveness and security. These funds will go, for example, to energy infrastructure and renewable projects, to new technologies like artificial intelligence or quantum computers, and to supporting the transport and automotive industries. In 2024, we invested a record amount in energy networks. We also doubled our support for security and defence – to €1 billion – and we expect to double it again in 2025.

    At the Munich Security Conference, we kept hearing the question of where Member States could get the many billions of euros they would need to invest in their armies, including under pressure from Trump. Are they all coming to you now?

    Ursula von der Leyen has already proposed relaxing the rules under the Stability Pact so that EU countries can finance their defence spending. Olaf Scholz has similar ideas. The EIB is not a defence ministry, but there is a lot we can do to help in this area. For example, if Member States want to renovate their roads and bridges to improve military mobility, we can fund that, just like we can fund protection of critical infrastructure like submarine cables, or investments in cybersecurity. We are doing this, and are exchanging with Europe’s finance and defence ministries and with industry.

    What is the EIB financing in Germany in this domain?

    We are currently looking into 14 specific projects across Europe. In 2021, for example, we granted the Munich-based drone startup Quantum Systems a loan of €10 million. Their products are now used by the Ukrainian military, and have both civilian and military applications, so they can be supported by the EIB. The Lithuanian government has just applied to us with a proposal that we are now evaluating. It seeks financial assistance to build the base for the new German army brigade in Rūdninkai, near the border with Belarus.

    Soon 5 000 German soldiers will be permanently stationed in Lithuania, as a deterrent to Russia. Cost projections by the German Defence Ministry for this brigade are over €10 billion. Lithuania would like to invest around €1 billion in the new base. How much money could come from the EIB?

    This is a very important and demanding project, and we’ve only just started looking into the details. Another good example is the EIB support for the expansion of the Danish port in Esbjerg. Going forward, it will be better able to accommodate NATO vessels and the transport of materials for offshore wind farms.

    You just came from a visit to Ukraine. How is the EIB supporting that country?

    The trip to Ukraine was my first one outside the EU as EIB President. We are probably Ukraine’s most important investment partner, and our role is one that our partners value greatly. During my visit, we signed agreements for investment totalling around €1 billion. They will allow major Ukrainian banks to grant more loans to medium-sized companies. And with the country’s government, we have signed packages to finance infrastructure for energy, transport, water and district heating, as well as the construction of bunkers in schools and nurseries. So we are actively investing in all of the important areas for the Ukrainian people to lead normal lives, as far as possible. And, of course, we aim to strengthen the country’s resilience.

    Are you also supporting Ukraine’s defence industry?

    We support the European security and defence industry, which also helps Ukraine. In 2024 we expanded the dual-use approach, so that we can now support a wide range of projects, such as border security, cybersecurity, satellites and drones, and mine clearance.

    The CEO of the Italian arms company Leonardo recently told our reporters that Europe has one main problem: Member States spend more and more money on defence, but don’t work together enough. Is he right?

    It is clear that a common European procurement system would make us stronger and more efficient, especially when it comes to our flagship projects. And yes, I think the European Investment Bank can contribute by acting as an independent appraiser for projects. In 2024, to bring in top expertise, we signed agreements with the NATO Innovation Fund and the European Defence Agency so that we can draw on their technical knowledge in this regard.

    Is there any dispute at the EIB due to differing positions on Ukraine, with member countries like Hungary or Slovakia that have pro-Moscow governments?

    No, not at all.

    “I would never presume to tell a Member State what to do.”

    So you are president of one of the only EU institutions that aren’t divided?

    I told you that I visited the 27 Member States, and listened very carefully to them. On that basis, we drew up our strategy, which was unanimously supported. We are therefore well aligned with the EU priorities and the expectations of the Member States. There is strong support for what we are doing. Including in Ukraine.

    When it comes to Europe’s future, one word always comes up: competitiveness. What does Europe need to do to avoid falling even further behind the US and China economically?

    The different reports, for example by Enrico Letta and Mario Draghi, are quite unanimous: We need market integration, streamlining and investment. So what we need to do is clear. And I think the new Commission is willing to go in that direction. On streamlining, for example, we have teamed up with the Commission to adapt environmental reporting standards so that we can pursue the Paris Agreement and our green transformation objectives in a way that promotes the competitiveness of European industry, as well as green finance and green investment.

    How optimistic are you that Europe will finally begin to react more quickly and actually make decisions? With the capital markets union, we’ve been waiting ten years for things to finally happen. And that’s just one example of many.

    As Spain’s Minister of Finance and its Deputy Prime Minister, I saw lots of things. The euro area crisis, the COVID-19 pandemic. And I have seen how Europe can succeed: Together, we developed the vaccines, and we dealt with the crisis. With the NextGenerationEU package, Spain has made some very far-reaching reforms and, thanks to mobilising investment, it is now the best-performing economy in Europe and a driver of growth and prosperity on the continent. We succeed when we unite, act decisively, truly focus and bring all our energy together.

    In contrast to Spain and other countries, Germany’s economy has been hit hard. Many experts see the debt brake as an obstacle to further growth. What does Germany have to do for things to start looking up again?

    I would never presume to tell a Member State what to do. I simply wish for a strong Germany with a stable, pro-Europe government – because we need a strong Germany at the centre of our union.

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – EU-India relations: Time for a new boost? – 19-02-2025

    Source: European Parliament

    The European Union (EU) is seeking to strengthen its strategic partnership with India, in place since 2004. The European Commission has given a strong signal in this direction. Commission President Ursula von der Leyen announced in Davos that the first visit of the whole College of Commissioners to a third country would be to India, on 27 and 28 February 2025. The EU-India Trade and Technology Council will also meet. A joint communication on a new strategic EU-India agenda is expected in the second quarter of 2025. An EU-India summit may take place in the last quarter of 2025. The EU wants to develop its relationship with India, whose market and economic growth (including in green technology) represents a valuable opportunity for EU companies. India’s strategic geographical position in the heart of the Indo-Pacific, where about 80 % of total global trade by volume passes, makes it a key partner for maintaining the security of the region and the freedom of navigation that are crucial to EU interests. The EU is also looking to expand its circle of key partners, against a backdrop of uncertainty over transatlantic relations. India meanwhile maintains a privileged relationship with Russia and is strengthening ties with the Trump administration. The EU and India are currently negotiating a free trade agreement, an investment protection agreement and an agreement on geographical indications. They also cooperate on a wide range of policies, including security, climate and energy, connectivity, research and innovation, and space. However, as the European Parliament underlined in its report on EU-India relations in January 2024, the partnership has not yet reached its full potential. Meanwhile, the EU-India five-year roadmap to 2025 is coming to an end, creating an opportunity to continue building a strong relationship. To develop their partnership, the EU and India would need to address some challenges. In particular, on trade negotiations New Delhi considers the EU carbon border adjustment mechanism and deforestation legislation to be unfair and detrimental to domestic markets. The EU is concerned about India’s stance on Russia’s invasion of Ukraine and about its human rights situation.

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Hong Kong Customs and Marine Police detected six large-scale maritime smuggling cases involving cigarettes and drugs during joint anti-smuggling operations (with photo)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs and Marine Police detected six large-scale maritime smuggling cases involving cigarettes and drugs during joint anti-smuggling operations (with photo)
    Hong Kong Customs and Marine Police detected six large-scale maritime smuggling cases involving cigarettes and drugs during joint anti-smuggling operations (with photo)
    ******************************************************************************************

         Hong Kong Customs and the Marine Police conducted joint operations from February 12 to 19 targeting large-scale maritime smuggling activities and six cases involving suspected illicit cigarettes and suspected dangerous drugs were detected. During the joint operations, a total of about 16.93 million sticks of suspected illicit cigarettes and 459 kilograms of suspected cannabis buds were seized.     Customs and police officers conducted anti-smuggling operations in Sai Kung and Lantau Island from February 13 to 16 and detected four suspected illicit cigarettes smuggling cases. A total of 4.1 million sticks of suspected illicit cigarettes, with an estimated market value of about $19 million and a duty potential of about $13.5 million, found in four goods vehicles and the waters nearby. The four goods vehicles involved in the cases were also detained.                 At small hours on February 18, Customs found a suspicious unattended fishing vessel in Shau Kei Wan Typhoon Shelter. Upon inspection, Customs officers seized 12.83 million suspected illicit cigarettes, with an estimated market value of about $57 million and a duty potential of about $42 million, inside the compartments of the vessel.      Later on the same day, Customs intercepted a suspicious fishing vessel in the waters off Lamma Island, during which persons onboard the fishing vessel threw numerous nylon bags into the sea. Customs officers then took immediate action to board the vessel and retrieved the subject nylon bags from the water. Upon inspection, a total of about 459kg suspected cannabis buds, with an estimated market value of about $118 million, were found inside the nylon bags. Three local men, aged between 44 and 60, suspected to be connected with the case were arrested in the operation.     Investigations on the above mentioned six cases are ongoing.     Being a government department primarily responsible for tackling smuggling activities, Customs has long been combating various smuggling activities at the forefront. Customs will keep up its enforcement action and continue to fiercely combat sea smuggling activities through proactive risk management and intelligence-based enforcement strategies. Customs will continue co-operating and exchanging intelligence with the Police, Mainland and international law enforcement agencies, with targeted anti-smuggling operations carried out at suitable times to disrupt these activities.     Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years.      Under the Dangerous Drug Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.     Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.     Members of the public may report any suspected drug trafficking or illicit cigarette activities to Customs’ 24-hour report hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/).

     
    Ends/Wednesday, February 19, 2025Issued at HKT 22:27

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CEPA Forum held today

    Source: Hong Kong Government special administrative region

    CEPA Forum held today
    CEPA Forum held today
    *********************

         The Hong Kong Special Administrative Region (HKSAR) Government and the Ministry of Commerce of the People’s Republic of China co-organised the Forum on the Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II) today (February 19). The forum aimed to familiarise business sectors with the liberalisation measures and implementation arrangements of the Amendment Agreement II signed by both sides under the CEPA framework on October 9, 2024.     The HKSAR Government would like to express sincere gratitude to the Central Government for its support for the HKSAR, with the Ministry of Commerce and relevant authorities actively responding to the HKSAR Government’s proposal of further opening up the Mainland market to Hong Kong in trade in services and signing the Amendment Agreement II, enabling more Hong Kong businesses and professionals to enter the Mainland market with more preferential treatments. The Permanent Secretary for Commerce and Economic Development, Ms Maggie Wong, and the Director-General of the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce, Mr Fan Shijie, attended the forum and delivered speeches.      Over 350 people, including representatives from local and foreign chambers of commerce, consulates, major trade associations and professional sectors, participated in the forum. The forum comprised three breakout sessions covering financial and legal services; audiovisual and telecommunications services; and other services (including construction and related engineering, medical, testing and certification, advertising, and tourism and travel related services). Representatives from over 20 central ministries and HKSAR Government bureaux and departments briefed participants at the forum on the content and implementation arrangements of the Amendment Agreement II, as well as the criteria and procedures for application for preferential treatments, and answered questions from the trade.     The Mainland and Hong Kong signed CEPA in 2003. CEPA has now been upgraded to a comprehensive and modern free trade agreement, covering four major areas, namely Trade in Goods, Trade in Services, Investment, and Economic and Technical Co-operation. The Amendment Agreement II introduces new liberalisation measures across a number of service sectors where Hong Kong enjoys competitive advantages, thus making it easier for Hong Kong service suppliers and professionals to set up enterprises and develop businesses in the Mainland, as well as enabling them to make contribution to the national development of new quality productive forces and solid progress in promoting high-quality development. The Amendment Agreement II came into effect on the day of signing and will be implemented on March 1.

     
    Ends/Wednesday, February 19, 2025Issued at HKT 21:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: FinTech Grad Student Nick Savignano Earns Competitive International Business Fellowship

    Source: US State of Connecticut

    Graduate student Nick Savignano ’25 has always been the type of person to roll up his sleeves and help others, whether spearheading a new project at work or clearing debris after Hurricane Katrina.

    When Savignano, a graduate student in the FinTech program, heard about a program that connects postgraduate business students with small- and medium-sized enterprises in the developing world, he was immediately interested.

    He recently learned that he was accepted as a Fellow in the prestigious DHL GoTrade GBSN Fellowship Program and is waiting to learn what industry and country he will be paired with during the eight-month program, which begins in March. The Fellowship program, which is remote, will also give him the chance to engage with global experts, participate in workshops, and develop new skills and mentorship.

    “Figuring out how to address problems and challenges and coming up with unique solutions is all very exciting for me. I’m going to give it my heart and soul,’’ he said. Savignano said he is looking forward to collaborating with people from another part of the world and the opportunity to work with another fellow.

    Students from 45 Countries Competed for 61 Fellowships

    The Fellowship program is highly competitive, said Natalie Timinskas, Coordinator of Students Programs at the Global Business School Network (GBSN). This year, the organization received almost 300 applications from master’s and Ph.D. candidates from 45 countries and 88 universities. Only 61 were accepted into the cohort.

    “The caliber of candidates was exceptional, with applicants showcasing impressive passion and dedication to advancing management and entrepreneurship in emerging and developing markets,’’ she said.

    The network cannot disclose the specific enterprises, as they are still finalizing agreements, but they are working with businesses from various industries, she said. Last year’s cohort worked on projects across diverse sectors, such as food and beverage, jewelry, textiles, e-commerce, crafts, and leather goods.

    Creating, Improving and Shaking Things Up

    Savignano earned his bachelor’s degree at Loyola University in 2018, with a finance major. He spent the next five years working in the mortgage industry in Maryland.

    He chose to apply to the UConn FinTech program, at that time only the second in the nation, because he loved everything about finance, and was intrigued by new ways of receiving and processing payments. During his time at UConn, he has also worked with the entrepreneurship programs here to investigate an idea he has for creating his own company.

    Savignano said he enjoys creating, improving processes, and shaking things up.

    “The Fellowship will be an exciting resume builder and also a very unique story to share,’’ he said. “I think it will also be one of those ‘contagious’ things that many people will become interested in doing.’’

    As he looks at his career growth, Savignano said he wants to be in a position to make strategic decisions.

    “I came to UConn to learn that aspect of business, and I think I’ve been successful,’’ he said. “I’m happy to represent UConn through this and to spread the UConn name because this university has done so much for me.’’

    John Wilson, Academic Director of FinTech program, said Savignano has been a standout student.

    “We encourage all students to map their own academic journey. Nicholas has taken that encouragement to heart and taken advantage of every opportunity,’’ Wilson said. “This, along with his drive and dedication, makes him a solid selection for the Fellowship program and we are confident that he will represent UConn well.’’

    Savignano said he feels fortunate that the FinTech program created an opportunity for him to attend ITC insurance innovation conference in Las Vegas last year, where he met industry veterans, tried brand-new products, learned about challenges of the insurance industry, and engaged with top executives.’’

    Network Offers Host of Opportunities for Ambitious Students

    Arminda Kamphausen, Director of Global & Sustainability Initiatives, said the School’s recent decision to become a member of the GBSN has provided both students and faculty with international opportunities that enrich educational experiences and research resources.

    “This chance for Nick to use what he is learning in the FinTech program to work on an international team to support a small or medium enterprise is just one of many such opportunities,’’ she said.

    “GBSN also gives our students opportunities to compete in an annual case competition, organizes thematic faculty working groups, such as Business and Human Rights, and offers monthly virtual events for sharing of member institution best practices,’’ Kamphausen said. “It also convenes an annual conference for substantive discussions on how business schools can continue to provide responsible training to their students and positive impact in the world.’’

    MIL OSI USA News –

  • MIL-OSI: FPSO Almirante Tamandaré producing and on hire

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, February 19, 2025

    SBM Offshore announces that FPSO Almirante Tamandaré is formally on hire as of February 16, 2025 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance.

    FPSO Almirante Tamandaré is the largest oil producing unit in Brazil with a processing capacity of 225,000 barrels of oil and 12 million m3 of gas per day. This FPSO has an estimated greenhouse gas (GHG) emission intensity below 10 kgCO2e/boe1 and benefits from emission reduction technologies such as the closed flare technology which increases gas utilization, preventing it from being burnt into the atmosphere. FPSO Almirante Tamandaré is the first unit in Brazil to receive a Sustainability-1 Notation2 certification reflecting the Company’s efforts to reduce emissions over the lifecycle of the vessel.

    FPSO Almirante Tamandaré is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%). The FPSO will operate under a 26.25-year charter and operation services contracts with Petróleo Brasileiro S.A. (Petrobras).

    FPSO Almirante Tamandaré is installed at the Búzios unitized field located in the Santos Basin, approximately 180 kilometers offshore Rio de Janeiro in Brazil. The Búzios unitized field is operated by Petrobras (88.99%) in partnership with CNODC (3.67%) and CNOOC (7.34%).

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation
    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer
    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. 

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    1 Calculated based on nameplate capacity.
    2 This sustainability certification from Bureau Veritas recognizes the Company’s efforts in minimizing environmental impacts over the lifecycle of the FPSO, from design to construction and operations.

    Attachment

    The MIL Network –

  • MIL-OSI: SBM Offshore announces changes in Supervisory Board

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, February 19, 2025

    SBM Offshore today announces that Bernard Bajolet has, for personal reasons, decided to step down as member of the Supervisory Board after the 2025 Annual General Meeting, following seven years of service. Bernard Bajolet will continue to be involved with the Company as advisor.

    Roeland Baan says: “We thank Bernard Bajolet for the valuable contribution to the Company as Supervisory Board member and look forward to his continued involvement as advisor.”

            

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation
    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer
    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.
    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. 
    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.
    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Lankford Leads Bill to Stop Drug Smuggling at the Southern Border

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford
    WASHINGTON, DC – Senator James Lankford (R-OK), Chairman on the Homeland Security and Governmental Affairs SubcommitteeonBorder Management, Federal Workforce and Regulatory Affairs, introduced the Border Enforcement, Security, and Trade (BEST) Facilitation Act to support border law enforcement by providing additional personnel to scan cargo for illegal drugs and guns or human smuggling. 
    “Adding more personnel at ports of entry will immediately provide our country with another layer of security to prevent traffickers from smuggling weapons or drugs across the border. Border law enforcement has repeatedly asked for more support to analyze cargo images in real time, so this bill also gives them tools they need to catch criminals and secure our border,” said Lankford. 
    Lankford is joined on this bill by Senators Mark Kelly (D-AZ) and John Cornyn (R-TX).
    Border law enforcement told Lankford directly that addressing this issue would help them better enforce the law at our ports of entry. The bill creates within Customs and Border Protection (CBP), positions for what are called “image technicians” who will review and assess scans of cargo images and either recommend entry to the primary inspection CBP officer or refer for further inspection any cargo they suspect may have illegal or illicit items.
    The bill also creates the position of “supervisory image technicians” to review and assess difficult-to- review images in addition to the regular duties of imagetechnicians. This position will also receive, report, and disseminate intelligence to and from the National Targeting Center to image adjudicators. The bill would also mandate training and annual assessments for imagetechnicians, require the development of a workforce staffing model, and institute reporting requirements.
    This legislation is supported by US Travel, Border Trade Alliance, National Sheriffs Association, and National Association of Counties.

    MIL OSI USA News –

  • MIL-OSI Economics: Apple debuts iPhone 16e: A powerful new member of the iPhone 16 family

    Source: Apple

    Headline: Apple debuts iPhone 16e: A powerful new member of the iPhone 16 family

    February 19, 2025

    PRESS RELEASE

    Apple debuts iPhone 16e: A powerful new member of the iPhone 16 family

    iPhone 16e joins the iPhone 16 lineup, featuring the fast performance of the A18 chip, Apple Intelligence, extraordinary battery life, and a 48MP 2-in-1 camera system — all at an incredible value

    CUPERTINO, CALIFORNIA Apple today announced iPhone 16e, a new addition to the iPhone 16 lineup that offers powerful capabilities at a more affordable price. iPhone 16e delivers fast, smooth performance and breakthrough battery life, thanks to the industry-leading efficiency of the A18 chip and the new Apple C1, the first cellular modem designed by Apple. iPhone 16e is also built for Apple Intelligence, the intuitive personal intelligence system that delivers helpful and relevant intelligence while taking an extraordinary step forward for privacy in AI. The 48MP Fusion camera takes gorgeous photos and videos, and with an integrated 2x Telephoto, it is like having two cameras in one, so users can zoom in with optical quality. When outside of cellular and Wi-Fi coverage, Apple’s groundbreaking satellite features — including Emergency SOS, Roadside Assistance, Messages, and Find My via satellite — help iPhone 16e users stay connected and get assistance when it matters most.1

    iPhone 16e will be available in two elegant matte finishes — black and white — with colorful cases available to accessorize. Pre-orders begin Friday, February 21, with availability beginning Friday, February 28.

    “iPhone 16e packs in the features our users love about the iPhone 16 lineup, including breakthrough battery life, fast performance powered by the latest-generation A18 chip, an innovative 2-in-1 camera system, and Apple Intelligence,” said Kaiann Drance, Apple’s vice president of Worldwide iPhone Product Marketing. “We’re so excited for iPhone 16e to complete the lineup as a powerful, more affordable option to bring the iPhone experience to even more people.”

    A Beautiful and Durable Design with Breakthrough Battery Life

    iPhone 16e is built to last, featuring splash, water, and dust resistance with a rating of IP68; the Ceramic Shield front cover with an advanced formulation that is tougher than any smartphone glass; and the toughest back glass in a smartphone.2 The 6.1-inch Super Retina XDR display with OLED technology has an edge-to-edge design that is perfect for watching HDR videos, playing games, and reading crisp text.3 iPhone 16e has the best battery life ever on a 6.1-inch iPhone, lasting up to six hours longer than iPhone 11 and up to 12 hours longer than all generations of iPhone SE.4 And with Face ID enabled by the TrueDepth camera system, users can securely unlock their iPhone, authenticate purchases, sign in to apps, and more. iPhone 16e also offers convenient charging options, including both wireless charging and USB-C for easy connection to a wide range of accessories.

    Performance and Connectivity

    iPhone 16e is powered by Apple’s latest-generation A18 chip, which enables fast, smooth performance, incredible power efficiency, and Apple Intelligence. The 6-core CPU is up to 80 percent faster than the A13 Bionic chip on iPhone 11, handling both everyday and intensive tasks with ease — from simple workloads, to more demanding actions with Apple Intelligence. The 4-core GPU powers stunning graphics performance and unlocks next-level mobile gaming on the go, enabling graphically demanding AAA titles and hardware-accelerated ray tracing for more realistic lighting and reflections. The 16-core Neural Engine is optimized for large generative models and runs machine learning (ML) models up to 6x faster than A13 Bionic.

    Expanding the benefits of Apple silicon, C1 is the first modem designed by Apple and the most power-efficient modem ever on an iPhone, delivering fast and reliable 5G cellular connectivity. Apple silicon — including C1 — the all-new internal design, and the advanced power management of iOS 18 all contribute to extraordinary battery life.

    Built for Apple Intelligence

    iPhone 16e is built for Apple Intelligence, unlocking exciting new capabilities that make iPhone even more helpful and powerful. With the Clean Up tool, it’s easy to remove distracting elements in images, and natural language search in the Photos app allows users to search for just about any photo or video by simply describing what they are looking for.

    Users can also explore creative new ways to express themselves visually with Image Playground, create the perfect emoji with Genmoj, and make their writing even more dynamic with Writing Tools. They can now type to Siri, and Siri is more conversational with the ability to follow along if users stumble over their words. Siri can also maintain context from one request to the next. With extensive product knowledge, Siri can answer thousands of questions about the features and settings of Apple products, so users can learn how to do things like take a screen recording or schedule a text message to send later.

    With access to ChatGPT seamlessly integrated into Writing Tools and Siri, users can choose to access ChatGPT’s expertise without jumping between applications, so they can get things done faster and easier than ever before. In addition, users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. Users can choose whether to enable ChatGPT integration, and are in full control of when to use it and what information is shared with ChatGPT.

    Apple Intelligence marks an extraordinary step forward for privacy in AI and is designed to protect users’ privacy at every step. It starts with on-device processing, meaning that many of the models that power Apple Inteligence run entirely on device. For requests that require access to larger models, Apple’s groundbreaking Private Cloud Compute extends the privacy and security of iPhone into the cloud to unlock even more intelligence. When using Private Cloud Compute, users’ data is never stored or shared with Apple; it is used only to fulfill their request.

    Access Favorite Features and Unlock Visual Intelligence with the Action Button

    iPhone 16e features the Action button, allowing users to easily access a variety of functions with just a press. Once customized in Settings, the Action button can be used to quickly open the camera or flashlight; switch between Ring and Silent modes; recognize music with Shazam; activate Voice Memos, Focus, Translate, and accessibility features like Magnifier; or use Shortcuts for more options. The Action button can even access in-app functionality like launching the camera in Snapchat, unlocking a car door with FordPass, tracking a child’s sleep schedule with Napper, and more.

    The Action button on iPhone 16e also unlocks a new visual intelligence experience that builds on Apple Intelligence to help users learn about objects and places. Visual intelligence can summarize and copy text, translate text between languages, detect phone numbers or email addresses with the option to add to contacts, identify an animal or plant, and more. Visual intelligence also allows users to search Google so they can see where they can buy an item, or benefit from ChatGPT’s problem-solving skills. Users are in control of when third-party tools are used and what information is shared.

    A Powerful Camera System to Capture Any Moment

    The powerful 2-in-1 camera system on iPhone 16e is perfect for capturing everyday moments and important memories, including in Night mode and Portrait mode. Using computational photography, the 48MP Fusion camera takes super-high-resolution photos, so users can capture gorgeous images that balance light and detail. With an integrated 2x Telephoto, users have the equivalent of two cameras in one, and can zoom in with optical quality to get closer to the subject and easily frame their shot. And the front-facing TrueDepth camera with autofocus enables sharper close-ups and beautiful group selfies. The latest generation of HDR captures subjects and the background with true-to-life renderings of skin tones, while ensuring photos have bright highlights, rich mid-tones, and deep shadows.

    iPhone 16e takes stunning videos with the ability to record in 4K with Dolby Vision up to 60 fps, and users can stop and restart a recording for more flexibility when capturing the moment. iPhone 16e also records video in Spatial Audio for immersive listening with AirPods, Apple Vision Pro, or a surround sound system, and enables more ways to edit video sound with Audio Mix. Users can adjust their sound after capture to focus on the voice of the person on camera, make it sound like the video was recorded inside a professional studio, or position vocal tracks in the front and environmental noises in surround sound. With wind noise reduction, powerful ML algorithms automatically reduce unwanted noise for better audio quality.

    Groundbreaking Safety and Communication Capabilities

    iPhone 16e helps users stay connected and get assistance when it matters most. Apple’s satellite features help users text via satellite when they’re outside of cellular and Wi-Fi coverage. This includes Messages via satellite to text friends and family; Emergency SOS via satellite to connect with emergency services; and Roadside Assistance via satellite to reach a roadside assistance provider in case of car trouble. Users can also use the Find My app to share their location via satellite, reassuring friends and family of their whereabouts while traveling off the grid. Crash Detection on iPhone 16e can detect a severe car crash and automatically dial emergency services if a user is unconscious or unable to reach their iPhone.5

    Featuring iOS 18

    iOS 18 makes iPhone 16e more personal, capable, and intelligent than ever.6 With more customization options, users can give apps and widgets a new dark or tinted look and arrange them in any open space on the Home Screen. The controls at the bottom of the Lock Screen can be customized; Control Center has been redesigned to provide users with easier access to many of the things they use every day, including third-party apps; and new privacy protections include the ability to lock and hide apps to protect sensitive apps and the information inside them. iOS 18 also provides powerful updates for staying connected. In Messages, users can use text effects to bring words, phrases, sentences, and more to life. Tapbacks expand to include emoji, Genmoji, or stickers, and now users can schedule a message to send later. When messaging contacts who do not have an Apple device, the Messages app now supports RCS for richer media and more reliable group messaging when compared to SMS and MMS.

    Better for the Environment

    iPhone 16e is designed with the environment in mind. As part of Apple 2030, the company’s ambitious goal to be carbon neutral across its entire carbon footprint by the end of this decade, Apple is transitioning to renewable electricity for its manufacturing, and investing in wind and solar projects around the world to address the electricity used to charge all Apple products, including iPhone 16e. Today, all Apple facilities run on 100 percent renewable electricity — including the data centers that power Apple Intelligence.

    To achieve Apple 2030, the company is designing products with more recycled and renewable materials, which further drives down the carbon footprint. iPhone 16e features over 30 percent recycled content overall, including 100 percent recycled cobalt and 95 percent recycled lithium in the battery, 85 percent recycled aluminum in the enclosure, and more.7 Additionally, the main logic board and back glass of iPhone 16e are designed to be manufactured more efficiently, reducing the amount of raw materials needed. The packaging is also entirely fiber-based, bringing Apple closer to its goal of removing plastic from its packaging by the end of this year.8

    Pricing and Availability

    • iPhone 16e will be available in white and black in 128GB, 256GB, and 512GB storage capacities, starting at $599 (U.S.) or $24.95 (U.S.) per month for 24 months.
    • Apple offers great ways to save and upgrade to the latest iPhone. With Apple Trade In, customers can get up to $120 (U.S.) in credit when they trade in iPhone 11, or up to $170 (U.S.) in credit when they trade in iPhone 12. With a carrier offer, customers can get up to $400 (U.S.) in credit when they trade in iPhone 11, or up to $599 (U.S.) in credit when they trade in iPhone 12 to put toward an iPhone 16e. Customers can take advantage of these offers by visiting the Apple Store online or an Apple Store location. For carrier offer eligibility requirements and more details, see apple.com/shop/buy-iphone/carrier-offers. To see what their device is worth and for Apple Trade In terms and conditions, customers can visit apple.com/shop/trade-in.
    • Customers in 59 countries and regions, including Australia, Canada, China, France, Germany, India, Japan, Malaysia, Mexico, South Korea, Türkiye, the UAE, the UK, and the U.S., will be able to pre-order iPhone 16e beginning at 5 a.m. PST on Friday, February 21, with availability beginning Friday, February 28.
    • Apple Intelligence is available in localized English for Australia, Canada, Ireland, New Zealand, South Africa, the UK, and the U.S. Additional languages — including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, Chinese (simplified), English (Singapore), and English (India) — will be available in April, with more languages coming over the course of the year, including Vietnamese. Some features, applications, and services may not be available in all regions or all languages.
    • Visual intelligence is available in iOS 18.2 or later on all iPhone 16 models. For more information on visual intelligence, visit support.apple.com/guide/iphone.
    • iPhone 16e Silicone Case will be available in five colors for $39 (U.S.): winter blue, fuchsia, lake green, black, and white.
    • AppleCare+ for iPhone provides unparalleled service and support. This includes unlimited incidents of accidental damage, battery service coverage, and 24/7 support from the people who know iPhone best. For more information, visit apple.com/support/products/iphone.
    • iCloud+ plans start at just $0.99 (U.S.) per month and offer up to 12TB of additional storage to keep photos, videos, files, and more safe in the cloud and available across devices. An iCloud+ subscription gives access to premium features such as unlimited event creation in the new Apple Invites app, as well as Private Relay, Hide My Email, and custom email domains. With Family Sharing, users can share their subscription with five other family members at no extra cost.
    • Customers who purchase iPhone 16e may receive three free months of Apple Music, Apple TV+, Apple Arcade, Apple News+, and Apple Fitness+, with a new subscription. Offer and services availability varies by region. See apple.com/promo for details.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Apple’s satellite features are included for free for two years starting at the time of activation of a new iPhone 14 or later. For Emergency SOS via satellite availability, visit support.apple.com/en-us/HT213426. Messages via satellite will be available in the U.S. and Canada in iOS 18 or later. SMS availability will depend on carrier. Carrier fees may apply. Users should check with their carrier for details. Roadside Assistance via satellite is currently available in the U.S. with AAA and Verizon Roadside Assistance, and in the UK with Green Flag. Participating roadside assistance providers may charge for services, and iPhone users who are not members can take advantage of their roadside assistance services on a pay-per-use basis. Apple’s satellite features were designed for use in open spaces with a clear line of sight to the sky. Performance may be impacted by obstructions such as trees or surrounding buildings.
    2. iPhone 16e is splash-, water-, and dust-resistant. It was tested under controlled laboratory conditions and has a rating of IP68 under IEC standard 60529 (maximum depth of 6 meters for up to 30 minutes). Splash, water, and dust resistance are not permanent conditions. Resistance might decrease as a result of normal wear. Do not attempt to charge a wet iPhone; refer to the user guide for cleaning and drying instructions. Liquid damage is not covered under warranty.
    3. The display has rounded corners that follow a beautiful curved design, and these corners are within a standard rectangle. When measured as a standard rectangular shape, the screen is 6.06 inches diagonally. The actual viewable area is smaller.
    4. All battery claims depend on the cellular network, location, signal strength, feature configuration, usage, and many other factors; actual results will vary. The battery has limited recharge cycles and may eventually need to be replaced. Battery life and charge cycles vary by use and settings. Battery tests are conducted using specific iPhone units. See apple.com/batteries and apple.com/iphone/compare for more information.
    5. Crash Detection is designed for four-wheel passenger vehicle crashes with certain mass, G-force, and speed profiles consistent with severe, life-threatening crashes. It was designed for severe, life-threatening, high-impact front and rear, side-swipe, T-bone, and rollover crashes. Crash Detection is available worldwide on iPhone 14 or later, Apple Watch Series 8 or later, Apple Watch SE, and Apple Watch Ultra or later.
    6. Some features may not be available for all countries or all areas. For more information on iOS 18, visit apple.com/ios/ios-18.
    7. All cobalt and lithium references use a mass balance allocation.
    8. Based on retail packaging as shipped by Apple. Breakdown of U.S. retail packaging by weight. Adhesives, inks, and coatings are excluded from calculations of plastic content and packaging weight.

    Press Contacts

    Blair Ranger

    Apple

    blair_ranger@apple.com

    Alex Kirschner

    Apple

    alexkirschner@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI Africa: UTM Offshore Chief Executive Officer (CEO) to Join Industry Leaders at Invest in African Energy (IAE) 2025

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

    PARIS, France, February 19, 2025/APO Group/ —

    As a leader in offshore energy, Julius Rone, CEO of UTM Offshore, is confirmed to speak at the upcoming Invest in African Energy (IAE) 2025 Forum in Paris. UTM Offshore is currently playing a pivotal role in Nigeria’s energy sector, including the development of the country’s first floating LNG (FLNG) facility, along with broader investments in Africa’s energy future.

    The company’s $5 billion UTM FLNG project continues to progress, with significant milestones achieved in design, construction and timeline for production. The 2.8 MTPA facility is poised to make a substantial contribution to Nigeria’s LNG capacity, strengthening the country’s position in the global energy market. In September 2024, UTM Offshore received the license from the Nigerian Federal Government to construct the project, bringing it one step closer to making a final investment decision, which is expected in 2025.

    IAE 2025 (apo-opa.co/3Qlfj69) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    The UTM FLNG facility serves as a prime example of the steps required to secure significant funding for large-scale gas projects, including diversifying funding sources, securing off-take agreements and gaining government support. According to Rone, UTM Offshore signed an MOU with the African Export-Import Bank in 2021 to raise up to $2 billion for the project. The bank has since received preliminary approval to invest $350 million, while UTM has secured contracts with JGC Corp and KBR Inc. for the facility’s design. Additionally, Vitol Group has entered into an LNG off-take agreement, and last year, UTM signed a deal with the Nigerian National Petroleum Company for it to acquire a 20% stake in the project.

    UTM Offshore’s participation at IAE 2025 underscores the company’s commitment to maximizing returns on investment in Africa’s energy sector, particularly through projects like UTM FLNG that connect the global investment community to Africa’s emerging energy opportunities. As Africa becomes an increasingly important player in the global energy landscape, UTM Offshore’s initiatives represent the continent’s growing capacity to provide sustainable energy solutions while fostering collaboration with international investors and stakeholders.

    MIL OSI Africa –

  • MIL-OSI: 100x Leverage, Double Deposit Bonus, and $50 Welcome Bonus at BexBack – Start Trading with No KYC

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 19, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?

    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Why recommend BexBack?

    No KYC Required: Start trading immediately without complex identity verification.

    100% Deposit Bonus: Double your funds, double your profits.

    High-Leverage Trading: Offers up to 100x leverage, maximizing investors’ capital efficiency.

    Demo Account: Comes with 10 BTC in virtual funds, ideal for beginners to practice risk-free trading.

    Comprehensive Trading Options: Feature-rich trading available via Web and mobile applications.

    Convenient Operation: No slippage, no spread, and fast, precise trade execution.

    Global User Support: Enjoy 24/7 customer service, no matter where you are.

    Lucrative Affiliate Rewards: Earn up to 50% commission, perfect for promoters.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users (complete one trade within one week of registration), you can be a winner in the new bull run.

    Sign up on BexBack now, claim your exclusive bonus and start accumulating more BTC today!

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

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

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/714b490f-cc1c-412f-beb4-9b3dc1ec2e06

    https://www.globenewswire.com/NewsRoom/AttachmentNg/36cd0ec5-a1f7-4760-b807-c2db6a7c6909

    https://www.globenewswire.com/NewsRoom/AttachmentNg/508c5eb7-e23a-4a46-ab45-202db77ee998

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f9cd05d1-9e67-4cc0-be44-b7a42a2a1bdc

    The MIL Network –

  • MIL-OSI Global: Trump threatens to disrupt the world’s critical minerals supply – but there are reasons to be positive

    Source: The Conversation – UK – By Jorge Valverde, PhD Fellow, Maastricht Economic and Social Research Institute on Innovation and Technology (UNU-MERIT), United Nations University

    Nickel laterite in an open pit mine. Nickel is one of the critical minerals

    There’s a chance Donald Trump’s second term as US president could have a long-term negative impact on the demand for and supply of what are known as critical minerals. These include copper, lithium, nickel, cobalt and the “rare earth elements”, such as lanthanum and yttrium.

    They are vital for the green energy transition, being used in electric car batteries, solar panels and wind turbines. Trump’s decision to pull out of the UN’s Paris agreement to control global warming has led to some pessimistic perspectives on this policy’s impacts.

    If Trump’s move towards oil and gas is interpreted by the markets as permanent, the price incentive for new mining projects for critical minerals will fall, along with long-term supply. This could potentially threaten the green energy transition.

    However, there are reasons to doubt this pessimistic scenario. Contrary to this, we believe that the new US administration policy is just a temporary shock without a significant change to the world’s energy transition trajectory. Therefore, critical mineral markets will remain buoyant in the medium and long term. This position is based on three main arguments.

    1. The US holds a competitive position in critical mineral markets

    There’s a generalised perception that the US depends on importing critical minerals from other countries, such as China. This is true for a handful, but, overall, America is one of the most competitive countries in producing the minerals needed for green technology.

    Indeed, the US has a revealed comparative advantage in exporting a wide variety of minerals and, among them, the most critical ones.

    Supplies of germanium are tightly controlled by China.
    RHJPhtotos

    Therefore, it will be in the US’s interests to keep the lucrative critical mineral markets dynamic. Even if the US reduces its sustainability ambitions, slowing its demand for new clean technologies, it is likely to do it carefully, so as not to harm its own industries.

    Indeed, we expect the US to increase its interest in developing processing industries to recover some minerals from electronic waste or intermediate stages in some manufacturing processes. These include germanium and gallium, which are tightly controlled by China (their biggest producer) but which are vital for computer chips and renewable energy technology, as well as night-vision goggles.

    2. The US produces and uses only a small share of clean technologies

    China and Europe drive these markets. The US does not drive either the demand or the supply for new clean technologies. On the demand side, the US only represents 10% of world electric car sales, while China and Europe account for 66% and 20% of the market respectively.

    China represents over 43% of installed solar energy capacity.
    Wang An Qi Shutterstock

    Similarly, for the world installed solar energy capacity, China represents over 43% of the market, Europe 20%, and the US only 10%. On the supply side, the US produces around 15% of the world’s electric cars, while China represents more than 50% of the market.

    For other clean technologies, statistics are similar with a remarkable leadership of China in the production of solar panels and wind turbines.

    So the policies followed by China and Europe are likely to have a much larger impact on the energy transition than the US’s. In the likely event that these countries continue pushing forward the green transition, the cost of slowing its technological catch up for the US will be too high.

    Moreover, oil producer countries of the Middle East are heavily betting for new clean technologies, which could offset the lower appetite for green assets from the US. So regardless of what Trump’s administration will decide on this matter, its influence on the market for clean technologies will be limited.

    3. New tariffs could further increase some minerals’ criticality

    Import tariffs imposed by Trump’s first administration to promote local production damaged US exports of those industries using imported intermediate, or partly finished, goods. In other words, international trade along global value chains has modified the textbook dynamics of protectionism, and exports are hindered – and not fostered – by import protection.

    President Trump has said he plans to impose 25% new tariffs on imports from Canada and Mexico. This could increase the criticality of some minerals for the US. For example, nickel and aluminium could become even more critical to the US economy because Canada supplies almost 40% of the nickel employed by US industry, and 70% of the aluminium.

    As a consequence, new tariffs could indeed increase the criticality of some minerals. Indeed, this was probably in some way behind the decisions to postpone the tariff increases and to only impose them on selected products.

    The energy policies of the new American administration will have ripple effects. But these are likely to be temporary and the market in critical minerals is unlikely to be affected long term. The global transition to clean energy seems safe, for now.

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

    – ref. Trump threatens to disrupt the world’s critical minerals supply – but there are reasons to be positive – https://theconversation.com/trump-threatens-to-disrupt-the-worlds-critical-minerals-supply-but-there-are-reasons-to-be-positive-249058

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Illegal tobacco and vapes seized in shops across Devon, Plymouth, Somerset and Torbay

    Source: City of Plymouth

    More than £37,000 of illegal tobacco, vapes and cash was seized by Trading Standards officers during a recent operation.

    The five-week operation during January and February saw officers from the Heart of the South West Trading Standards Service, supported by Devon and Cornwall Police and Avon and Somerset Police,  look for illegal tobacco.

    During the operation officers visited 14 shops across the region including in Brixham, Crediton, Kingsbridge, Newton Abbot, Paignton, Plymouth, Taunton, Teignmouth and Wellington.

    They used detection dogs to look for hidden stashes.

    Only one shop was found to not be selling illegal products. All but one of the 14 shops were found to be selling illegal products.

    Alex Fry, Operations Manager for Heart of the South West Trading Standards, said: “The removal of illegal tobacco and vapes from the marketplace is a high priority for us and we have conducted a number of intelligence-led operations over the last few weeks.

    “The service uses detection dogs so regardless of where it is hidden, in a storage container or retail premises, the dogs have the ability to sniff out even small quantities of tobacco and vapes that are hidden from view.

    “The sale of counterfeit and illicit tobacco and illegal vapes is big business and those shops involved can undercut other local general stores who are trying to operate legally during difficult economic conditions.”

    Councillor Sally Haydon, Cabinet member with responsibility for community safety, said: “We are working hard to make Plymouth a healthier city and removing cheap, illegal tobacco and vapes from our shops is a high priority.

    “This is not a victimless crime. The availability of these products at pocket money prices encourages children to start smoking and vaping and the proceeds are often used to fund other criminal activities.

    “We are finding increasingly elaborate methods to hide illegal tobacco but no matter where it’s hidden on the premises our detection dogs can find it.”

    Investigations into those premises found selling the items are ongoing. To report concerns of counterfeit or other illegal products email [email protected] or phone 01392 383000.

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: CEPA forum held

    Source: Hong Kong Information Services

    The Hong Kong Special Administrative Region Government and the Ministry of Commerce today co-organised a forum on the Second Agreement Concerning Amendment to the Mainland & Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II).

    The forum aimed to familiarise business sectors with the liberalisation measures and implementation arrangements of the Amendment Agreement II signed by both sides under the CEPA framework on October 9, 2024.

    The Hong Kong SAR Government thanked the central government for its support for the Hong Kong SAR, with the Ministry of Commerce and relevant authorities actively responding to the Hong Kong SAR Government’s proposal of further opening up the Mainland market to Hong Kong in trade in services and signing the Amendment Agreement II, enabling more Hong Kong businesses and professionals to enter the Mainland market with more preferential treatment.

    Representatives from over 20 central ministries and Hong Kong SAR Government bureaus and departments briefed participants at the forum on the content and implementation arrangements of the Amendment Agreement II as well as the criteria and procedures for application for preferential treatment, and answered questions from the trade.

    Over 350 people, including representatives from local and foreign chambers of commerce, consulates, major trade associations and professional sectors, participated in the forum.

    To be implemented on March 1, the Amendment Agreement II introduces new liberalisation measures across a number of service sectors where Hong Kong enjoys competitive advantages, thus making it easier for Hong Kong service suppliers and professionals to set up enterprises and develop businesses in the Mainland.

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: Climate change is threatening Lake Ontario — lessons from the Little Ice Age show us why we need to adapt

    Source: The Conversation – Canada – By Daniel Macfarlane, Associate Professor of Environment and Sustainability, Western Michigan University

    Humans have always had a close connection with Lake Ontario. For centuries, this Great Lake has been a backbone of the region’s economy — relied upon for trade, food and industry. But a warming climate could dramatically change this relationship.

    This wouldn’t be the first time climate change has affected how humans use this Great Lake, as I show in my new book The Lives of Lake Ontario: An Environmental History. During the Little Ice Age, which spanned roughly the 14th to 19th centuries, Indigenous and settler societies had to adapt to the cooling Lake Ontario environment.

    As we again face a changing climate, the way our predecessors adapted during the Little Ice Age teaches us why it’s necessary we change how we use and interact with Lake Ontario today.

    The Little Ice Age

    Prior to the onset of the Little Ice Age, the Lake Ontario region was occupied exclusively by different Indigenous Peoples — including the Haudenosaunee and Anishinaabeg. These groups regularly came to Lake Ontario to hunt, harvest and trade. They were highly attuned to local climate conditions, adapting their agricultural strategies accordingly.

    But the Little Ice Age altered the climate in the region — with average temperatures about 1-2°C lower than normal. I argue in my book that the impact this period’s climate had on the environment and those living in the region helped change the course of empires in North America — both Indigenous and Euro-American.

    This cooler climate led to seasonal unpredictability. This forced the region’s various occupants to adjust their resource and food acquisition strategies. A higher frequency of summer droughts could mean failed crops — while extremely heavy snows made it harder to hunt. These factors may have contributed to the severe decline of Indigenous populations in the region.

    The origins of the fur trade — which dramatically reorganized society and altered political power in the Great Lakes region — are also at least partly attributable to the Little Ice Age. The cooler climate drove the desire for fur in Europe while also affecting the pelt thickness of North American animals.

    The climate during the Little Ice Age also influenced various military campaigns due to its effects on the region’s weather and the lake’s conditions.

    During the War of 1812, for instance, two American warships sank in a sudden summer squall north of Port Dalhousie. A lack of appreciation for the lake’s capriciousness could mean disaster — while those commanders who respected the local environment had the upper hand.

    Agriculture

    But alongside the challenges this cooling climate created, it also provided new opportunities.

    As I contend in my book, climate changes during the period encouraged the diversification of agriculture and food production — such as the cultivation of wheat strains hardy enough to survive cooler conditions. Settlers also believed the mass conversion of forests and wetlands to fields could modify the climate, making it warmer. The influx of settlers reliant on these new types of agriculture fundamentally shaped the emerging political and economic systems around Lake Ontario.

    Heavier ice cover on Lake Ontario actually made winter transportation easier in some ways.

    Temperatures during the Little Ice Age frequently caused a thick freeze in the lake’s nearshore waters. This enabled alternative forms of wintertime travel which were generally cheaper, more flexible, and more dependable than travelling by boat. Skates, sleighs and iceboats were developed for both economic and recreational needs.

    As the Little Ice Age began releasing its grip during the 19th century, Euro-Americans moved to the Lake Ontario basin in larger numbers. This climatic shift proved integral to settler expansion.

    Ice on Lake Ontario enabled cheaper forms of travel.
    (William Armstrong, Public domain/Wikimedia Commons)

    Resilient yet fragile

    The Toronto region could not have become Canada’s economic and cultural capital without the resources of Lake Ontario.

    But all this economic and political growth has come at a tremendous cost. Lake Ontario is now imperilled because of the way we’ve come to rely on it.

    In the 19th century, we cut down forests, dammed and polluted tributaries, dug canals and obliterated fish species in the region.

    In the 20th century, our impacts only expanded: overwhelming pollution, invasive species, urban sprawl, larger canals and hydroelectric dams. These human costs have led to nutrient overloads in the water from wastewater and farming runoff, impoverished biodiversity, fluctuating water levels, toxic chemicals and plastics in the lake.

    This ongoing degradation — coupled with climate change exacerbating ecological challenges and creating new ones — is further undercutting Lake Ontario’s ability to cope with our many abuses.

    A hotter lake could alter the entire food web, which could have ripple effects on local species, energy flows and biodiversity.

    The changing climate is also causing extreme fluctuations in lake levels. Recent record-high levels eroded shorelines — affecting houses and infrastructure while threatening septic systems, nuclear power stations and fuel refineries.

    Resilience

    We’re lucky that Lake Ontario is remarkably resilient. But the lake is being pushed to the brink. We have a small window to both adapt to the already changing climate and prevent it from changing further.

    Of course, the Little Ice Age involved the climate getting cooler, while today it’s getting warmer — with humanity being the primary driver for this changing climate. In the face of climate change, we too can adapt how we use and interact with the lake — just as was done in the Little Ice Age.

    But our response nowadays needs to be as much about stopping old practices as starting new ones. We need to cease contributing to global warming and other negative impacts on Lake Ontario through our unsustainable industry, flawed economic systems and overconsumption, massive pollution and reliance on fossil fuels.

    Daniel Macfarlane 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. Climate change is threatening Lake Ontario — lessons from the Little Ice Age show us why we need to adapt – https://theconversation.com/climate-change-is-threatening-lake-ontario-lessons-from-the-little-ice-age-show-us-why-we-need-to-adapt-246292

    MIL OSI – Global Reports –

  • MIL-OSI: Asset Entities Inc. Regains Compliance with Nasdaq Listing Rule 5550(b)(1)

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — Asset Entities Inc. (“Asset Entities” or the “Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord, TikTok, and other social media platforms, and a Ternary Payment Platform company, today announced that it has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders’ equity of $2.5 million.

    On February 18, 2025, the staff (the “Staff”) of the Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that based on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 14, 2025, the Staff has determined that the Company complies with Listing Rule 5550(b)(1). The Staff further advised the Company that if the Company fails to evidence compliance upon filing its periodic report for the period ending March 31, 2025, it may be subject to delisting. Asset Entities expects that its stockholder’s equity will be at least $2.5 million as of March 31, 2025, as required by the Staff in its February 18, 2025, letter.

    On August 21, 2024, the Staff notified the Company that it did not comply with the minimum $2.5 million stockholders’ equity requirement for companies listed on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1). In response, the Company took immediate steps to fully comply by aggressively working to improve its financial strength and operations. These efforts included ongoing cost reduction initiatives, raising additional capital for future acquisitions and operations, and implementing and utilizing its at-the-market offering, which resulted in Asset Entities exceeding the $2,500,000 stockholders’ equity requirement.

    Arshia Sarkhani, CEO of Asset Entities, stated: “We are pleased that the Company successfully implemented a plan to regain compliance and meet the equity requirement, and is continuing to execute that plan going forward. Our team is committed to staying on course and ensuring continued regulatory compliance. As stated previously, our goal is to ensure that we continue our expansion and further development of our Discord, TikTok, and social media services, as well as expand our presence in the TikTok Shop space as a new TikTok Shop Partner. We are strongly encouraged by the significant increase in revenues over the last year, and we expect that trend will continue to grow with the anticipated future acquisitions and the new AE.360.DDM contracts.”

    To learn about Asset Entities, please go to www.assetentities.com. To learn about the Ternary payment platform, please go to www.ternarydev.com. To learn about Asset Entities 360 suite of discord services, go to www.ae360ddm.com and https://discord.gg/ae360ddm.  

    About Asset Entities Inc.

    Asset Entities Inc. is a technology company providing social media marketing, management, and content delivery across Discord, TikTok, Instagram, X (formerly Twitter), YouTube, and other social media platforms. Asset Entities is believed to be the first publicly traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers. The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development, and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities. The Company also has its Ternary payment platform that is a Stripe-verified partner and CRM for Discord communities. The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses. Learn more at assetentities.com, and follow the Company on X at $ASST and @assetentities.

    Important Cautions Regarding Forward-Looking Statements

    This press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statements that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors including those that are described in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    Company Contacts:
    Arshia Sarkhani, President and Chief Executive Officer
    Michael Gaubert, Executive Chairman
    Asset Entities Inc.
    Tel +1 (214) 459-3117 
    Email Contact

    Investor Contact:
    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, NY 10036
    Office: (646) 893-5835
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Continues Rapid Expansion of National Distribution Footprint adding Iowa’s Mahaska Bottling Company

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Light to be served at Knoxville Raceway the “Sprint Car Capital of the World” and the Dingus Lounge “Iowa’s Most Notorious Bar”

    Nashville, TN, Feb. 19, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), proudly announces its strategic expansion into Iowa through a partnership with Mahaska Bottling Company (mahaska.com). This move is a significant milestone in the Company’s broader Midwest growth strategy, underscoring Iowa’s pivotal role as a key market in American Rebel’s regional expansion.

    “I had a hunting show, Maximum Archery World Tour, on television for ten years. I bowhunted all over the world, but in Iowa I’ve met some of the most passionate hunters and outdoorsmen I’ve ever met. I’ve done several “meet and greets” at the Iowa Deer Classic in Des Moines over the years and it was always a lot of fun and great to meet everyone there. Getting American Rebel Light Beer distributed throughout the state of Iowa really means a lot to me,” said American Rebel CEO Andy Ross.

    Powerful Iowa Distribution Partnership – Mahaska Bottling Company and Rebel Light

    Founded in 1889, Mahaska Bottling Company boasts a rich history of providing high-quality beverage distribution services across Iowa. Their extensive network and dedication to customer satisfaction make them an ideal partner for American Rebel Beer.

    The agreement with Mahaska Bottling Company will allow American Rebel Light Beer to captivate a broader audience in Iowa, introducing its Premium Light Lager to beer enthusiasts across the region. This partnership aims to provide a seamless distribution network, ensuring American Rebel Light Beer is available in local bars, restaurants, and retail outlets. “We are very excited to bring American Rebel Light to our valued customers in the State of Iowa,” said Chad Irving, Chief Marketing Officer of Mahaska Bottling Company.

    “We are thrilled to partner with Mahaska Bottling Company to bring American Rebel Light Beer to Iowa,” said Todd Porter, President of American Rebel Beverages. “This collaboration allows us to serve the patriotic consumers in Iowa who are looking for a clean, natural, and great-tasting light beer that embodies the values of our great nation.”

    Launch Events to bring American Rebel Light Beer to Iowa’s Best Venues

    American Rebel Beer will host a series of exciting events, including beer tastings, live music performances, and promotional giveaways. The festivities will kick off this Spring and run through the Fall, offering a perfect opportunity for the community to come together and enjoy America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, STAND YOUR GROUND BEER!

    American Rebel Light will be anchored by two legendary Iowa establishments:

    “The Knoxville Raceway and the Dingus Lounge will put Rebel Light on the map in Iowa right out of the box,” said American Rebel CEO Andy Ross. “And Mahaska Bottling Company and our Rebel Light Street Team will carry our message throughout the rest of the state utilizing our Rebel Light nights in bars and restaurants across the state.

    The Knoxville Raceway is known as the “Sprint Car Capital of the World” and the home of the Knoxville Nationals, a premier sprint car racing event that draws tens of thousands of fans each year that was first held in 1961.

    “We have been looking forward to getting American Rebel Light in here for a while,” said Knoxville Raceway General Manager Jason Reed. “It’s a great fit for our audience. We love what American Rebel is doing in motor sports and we look forward to supporting them.”

    The Knoxville Raceway seats around 21,000, which is thought to be the fourth largest outdoor facility in Iowa behind the football stadiums of Iowa and Iowa State University and the Iowa Speedway. To promote American Rebel Light at the Raceway, entertainment events headlined by American Rebel CEO Andy Ross are in the works. American Rebel and Tony Stewart Racing will collaborate on further promotional value through the American Rebel sponsorship of the Tony Stewart Racing NHRA Funny Car driven by Matt Hagan and Tony Stewart’s love of sprint car racing and Tony’s suite at the Knoxville Raceway.

    “Iowa’s Most Notorious Bar”, the Dingus Lounge, is the ideal establishment to serve American Rebel Light. Owner AJ Mottet has expanded Dingus again and again. He now owns the entire block and during the Knoxville Nationals he’ll pack every square foot with patriotic race fans who love beer

    “Dingus Lounge is excited and proud to be a part of American Rebel Beer,” said AJ Mottet. “The World’s Best Racing Bar and our patrons stand for the same core values that American Rebel represents. Freedom has a price, that price is the sacrifice many men and women who gave everything for us to be the land of the free. Dingus and American Rebel Beer honor those who sacrificed. We honor them every day. It’s who we are.”

    “I LOVE THAT BAR,” said Andy Ross. “I would love to play at the Dingus Lounge during the Knoxville Nationals. That would be a great date to add to our tour this summer. It’s definitely our crowd and I think it would be a blast.”

    During the Thursday of a previous Knoxville Nationals Dingus claims it sold 10,700 cans of Busch Light alone. “We had a chain of employees handing cases right from the truck through the crowd, right into the bar tubs,” Mottet says. “If they can love the dirt in their track, then they can love the dive in their bar.”

    For more information about the launch events and American Rebel Beer, please visit (americanrebelbeer.com) or follow us on our social media platforms.

    About Mahaska Bottling Company

    Mahaska Bottling Company is a 7th generation family-owned bottling and distribution company that has been around for more than 135 years. From its early years at the dawn of the soft-drink industry, Mahaska has expanded its portfolio and added a multitude of product and service lines across non-alcoholic beverages, coffee, food, snacks, and beer.

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebel.com/investor-relations.

    Media Inquiries:
    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Attachment

    The MIL Network –

  • MIL-OSI: Abacus Life Completes the Rebranding of FCF Advisors with New ETF and Fee Reductions

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering global alternative asset manager specializing in leveraging longevity data and actuarial technology to offer uncorrelated investment opportunities, today announces the rebranding of FCF Advisors to Abacus FCF Advisors, a subsidiary of ABL Wealth.

    This rebrand highlights the manager’s position as a leader in free cash flow investing and analytics by pioneering the FCF Leaders Model, which serves as the foundation for the firm’s quantitative investment process that identifies the most profitable companies. As part of the rebrand, Abacus FCF Advisors announced the launch of the Abacus FCF Small Cap Leaders ETF (ticker: ABLS), and management fee reductions of 5-10 basis points across all ETFs. An 18-month fee waiver of 20 basis points was also introduced on four of the ETFs.

    Ticker Fund Name
    ABFL Abacus FCF Leaders ETF
    ABLG Abacus FCF International Leaders ETF
    ABLD Abacus FCF Real Assets Leaders ETF*
    ABOT Abacus FCF Innovation Leaders ETF*
    ABLS Abacus FCF Small Cap Leaders ETF*
    ABHY Abacus Tactical High Yield ETF*

    *Effective 2/1/2025, a fee waiver of 20 basis points will be offered to these funds for 18 months.

    To celebrate this iconic event, the Abacus FCF Advisors team, along with other executives from ABL Wealth, is ringing the Cboe Global Markets Exchange opening bell today, Wednesday, February 19, 2025.

    “We are thrilled to ring the Cboe bell,” said Jay Jackson, CEO of Abacus Life. “The FCF acquisition, including the rebranded funds and new ETF, constitute significant milestones in Abacus’ ongoing expansion of ABL Wealth and its suite of innovative products, as well as our goal of delivering comprehensive, lifespan-based financial advisory services and products. FCF aligns perfectly with our strategy of providing clients with holistic and tailored financial solutions throughout their lives.”

    About Abacus FCF Advisors

    Abacus FCF Advisors is a leader in free cash flow investing and analytics, having pioneered the Free Cash Flow Leaders Model, which serves as the foundation for the firm’s quantitative investment process. Based on our research for the past decade, constructing a high-conviction portfolio through comprehensive analysis of Free Cash Flow Return on Invested Capital has historically outperformed and delivered superior long-term capital growth. This model prioritizes prudent capital expenditure, low accruals, high cash flow margins, and strong asset turnover. Abacus FCF Advisors has a suite of core and thematic free cash flow equity strategies and offers over 50 customizable free cash flow index strategies covering 8 global equities allocation categories available in ETFs, SMA/white label SMA and model delivery.

    www.abacusfcf.com

    About Abacus

    Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.

    With nearly $3 billion in assets under management, including recently-completed acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.

    Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:

    • ABL Wealth – Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
    • ABL Tech – A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.

    Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.

    www.Abacuslife.com

    Contacts:

    ABL Wealth

    Fei Xue, CAIA – Vice President, ABL Wealth
    fei@abacuslife.com
    (321) 710-5957

    Abacus Life Investor Relations

    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacuslife.com
    (321) 290-1198

    David Jackson – IR/Capital Markets Associate
    djackson@abacuslife.com
    (321) 299-0716

    Abacus Life Public Relations
    press@abacuslife.com

    Important Information:

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the statutory and summary prospectuses, a copy of which may be obtained by visiting the Fund’s website at www.abacusfcf.com/ABFL, www.abacusfcf.com/ABLG, www.abacusfcf.com/ABLD, www.abacusfcf.com/ABOT,  www.Abacusfcf.com/ABLS, www.Abacusfcf.com/ABHY. Please read the prospectus or summary prospectus, if available, carefully before you invest.

    Investing involves risk, including possible loss of principal.

    Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.

    Distributed by Quasar Distributors, LLC. Quasar is not related to Abacus or ABL.

    The MIL Network –