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Category: Vehicles

  • MIL-OSI Security: Southwest Missouri Man Sentenced for Unlawful Possession of Stolen Firearm

    Source: US FBI

    SPRINGFIELD, Mo. – A Bolivar, Mo., man was sentenced in federal court today for unlawfully possessing a firearm.

    Timothy E. Parker, 29, was sentenced by U.S. District Court Judge Stephen R. Bough to 48 months in federal prison without parole, to be followed by three years of supervised release.

    On Sept. 25, 2024, Parker pleaded guilty to one count of being a felon in possession of a firearm.

    On Sept. 23, 2023, deputies with the Greene County, Mo., Sheriff’s Office attempted to conduct a traffic stop on a U-Haul that Parker was driving. Instead of stopping, Parker initially fled the area.  Eventually, Parker pulled the vehicle over and when contacted and searched, the deputies located a loaded Taurus G3C pistol concealed in a chest sling holster. Deputies also seized a backpack belonging to Parker that contained a 50-round box of ammunition, a Kydex style gun holster, a lock picking set, and 2.42 grams of methamphetamine during the stop. Police records indicated that the pistol and holster had been reported as stolen earlier that month.

    Under federal law, it is illegal for anyone who is convicted of a felony to be in possession of any firearm or ammunition. Parker has prior felony convictions for property damage, forgery, burglary, driving stolen motor vehicles, and resisting arrest.

    This case was prosecuted by Assistant U.S. Attorney Patrick Carney. It was investigated by the Greene County, Mo., Sheriff’s Office and the Federal Bureau of Investigation.

    Project Safe Neighborhoods

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

    July 17, 2025

  • MIL-OSI: NextNRG Signs Letter of Intent for Two Healthcare Facility Smart Microgrid Projects in Los Angeles County

    Source: GlobeNewswire (MIL-OSI)

    Strategic expansion into essential healthcare sector demonstrates NextNRG’s energy-agnostic technology and own-and-operate model

    Projects establish NextNRG as dedicated energy provider under long-term contracts to facilities requiring mandatory continuous power

    MIAMI, July 16, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI driven energy innovation transforming how energy is produced, managed, and delivered through its Next Utility Operating System®, smart microgrids, wireless EV charging, and mobile fuel delivery, today announced it has signed a letter of intent to develop critical energy infrastructure for two healthcare facilities operated by Sunnyside Nursing and Post-Acute Care (Sunnyside) and Topanga Terrace Rehabilitation & Subacute (Topanga) in Los Angeles, California.

    NextNRG will own and operate the complete smart microgrid systems and sell electricity directly to both facilities under separate 28-year Power Purchase Agreements (PPAs), establishing predictable long-term revenue streams in the essential healthcare sector where continuous, reliable power is not just preferred but mandatory. The PPA for the Sunnyside facility will generate revenue at $0.25 per kWh with a 2% annual escalator, while the Topanga facility will generate revenue at $0.22 per kWh with a 2% annual escalator, providing NextNRG with contracted cash flows extending through 2053.

    NextNRG will design, build, own and operate comprehensive smart microgrid systems for each facility, then sell electricity from these NextNRG-owned grids to the healthcare facilities. The energy infrastructure will incorporate generation through solar and renewable sources, as well as battery storage for enhanced reliability. All components will be integrated into comprehensive smart microgrids powered by NextNRG’s proprietary UOS (Utility Operating System) and SmartGrid technology. Each system will feature up to 830 kWh DC of solar photovoltaic capacity and 2.2 MWh of battery energy storage with ground-mounted solar arrays.

    By combining batteries with generators, NextNRG will significantly reduce the risk of power outages while ensuring compliance with HCAI (Healthcare Access and Information) requirements. The healthcare facilities gain operational resilience and access to tax incentives, while NextNRG establishes a strategic foothold in the highly regulated and lucrative healthcare sector.

    “These projects represent our strategic entry into the healthcare market, where energy reliability is mandatory rather than optional,” said Michael D. Farkas, Founder and CEO of NextNRG. “The 28-year contracted revenue from selling electricity generated by our owned infrastructure provides exceptional visibility and stability, while demonstrating our software’s ability to manage and optimize power from any source. This energy-agnostic functionality positions us to capture significant opportunities across the healthcare sector, where facilities require uninterrupted power for life-safety systems and patient care.”

    The projects showcase NextNRG’s proprietary technology platform designed to optimize and manage diverse energy inputs through advanced artificial intelligence, including traditional grid power, renewable sources, solar, and emerging technologies. This energy-agnostic capability provides maximum flexibility for healthcare facilities while demonstrating NextNRG’s ability to serve as a complete energy solution provider rather than just a renewable energy company.

    Healthcare facilities represent a particularly compelling market opportunity for NextNRG’s own-and-operate model. Hospitals, nursing homes, and other healthcare facilities prioritize energy reliability and long-term cost predictability, making them ideal candidates for long-term PPA arrangements. The healthcare sector’s essential nature and regulatory requirements create a stable customer base with predictable energy needs and willingness to pay for enhanced reliability.

    The addressable market for NextNRG’s smart microgrid solutions in the healthcare sector is substantial, with 15,300 nursing homes and 32,231 assisted living facilities across the United States. These facilities are subject to stringent regulatory requirements mandating backup power systems to ensure continuous operation of life-safety equipment, HVAC systems, and critical care infrastructure. NextNRG’s comprehensive smart microgrids provide a superior alternative to traditional diesel generators, offering cleaner, more reliable backup storage while meeting all applicable healthcare regulations and emergency preparedness standards. NextNRG’s TAM in healthcare microgrids is roughly $3.2 billion in annual revenue opportunity today, growing into the $7–8 billion range by the early 2030s, driven by resilient infrastructure needs, AI integration, and regulatory tailwinds.

    “The healthcare sector represents a massive market opportunity where our ownership model and technology create significant value,” added Mr. Farkas. “These facilities cannot afford power interruptions, and our comprehensive smart microgrid solutions powered by machine learning provide the energy security they require while generating stable, long-term cash flows for NextNRG from our owned energy assets. We see substantial potential to replicate this ownership and energy sales model across thousands of healthcare facilities nationwide.”

    These projects build on NextNRG’s recent momentum, including its partnership with Hudson Sustainable Group, inclusion in the Russell 2000® and Russell 3000® indexes, and record-breaking revenue growth with preliminary May 2025 revenue of $6.6 million representing 148% year-over-year growth. The healthcare market expansion complements NextNRG’s established mobile fueling operations across six U.S. states with 144 active delivery trucks.

    The agreement advances NextNRG’s strategy of deploying next-generation energy infrastructure through its integrated ecosystem of AI-optimized solutions, establishing the company as a leader in intelligent energy management and delivery across essential service sectors.

    About NextNRG, Inc.

    NextNRG Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem.

    At the core of NextNRG’s strategy is its Next Utility Operating System®, which leverages AI and ML to help make existing utilities’ energy management as efficient as possible; and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, healthcare campuses, universities, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives.

    NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility’s fuel division and Shell Oil’s trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, providing fuel delivery while advancing efficient energy adoption. The transition process is expected to include the deployment of NextNRG’s innovative wireless EV charging solutions.

    To find out more visit: www.nextnrg.com.

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

    Investor Relations Contact

    NextNRG, Inc.
    Sharon Cohen
    SCohen@nextnrg.com

    The MIL Network –

    July 17, 2025

  • MIL-OSI NGOs: Enough of passing the buck, enough of the delay, enough of the bloodshed

    Source: Oxfam –

    In response to the EU’s foreign affairs ministers meeting to discuss the list of options for political action against Israel, Bushra Khalidi, Oxfam’s Policy Lead in the Occupied Palestinian Territory and Gaza, said:  

    “Every day that passes without real action means more death and destruction. Yet, once again, Europe is kicking the can down the road.  

    “The recent aid deal may have been a step, but, in reality, it is mere breadcrumbs. Aid alone cannot stop this catastrophe. We cannot continue to watch children killed and say ‘we are making progress’. We cannot watch food rot in aid trucks while people starve and say ‘this is working.’ 

    “The EU cannot continue to maintain full ties with a government it acknowledges may be violating EU human rights principles, while offering humanitarian aid with one hand and enabling impunity with the other. 

    “We do not need another cautious statement nor another backroom deal. We need real leadership and decisive action. Enough of passing the buck. Enough of the delay. Enough of the bloodshed.”  

    EU foreign affairs ministers met today for the Foreign Affairs Council. At the meeting, EU Foreign Affairs Chief, Kaja Kallas, presented a list of options to EU foreign affairs ministers including the full or partial suspension of the EU-Israel Association Agreement.    

    The EU is Israel’s biggest trading partner.   

    Article 2 of the EU-Israel Association Agreement states “Relations between the Parties, as well as all the provisions of the Agreement itself, shall be based on respect for human rights and democratic principles, which guides their internal and international policy and constitutes an essential element of this Agreement.” Israel’s well-documented violations of international humanitarian law and human rights, particularly in Gaza and the West Bank, violate Article 2.     

    On Thursday, the EU and Israel agreed on steps that include “the substantial increase of daily trucks for food and non-food items to enter Gaza, the opening of several other crossing points in both the northern and southern areas; the reopening of the Jordanian and Egyptian aid routes” among other items.    

    Beyond suspending this agreement, Oxfam is calling for a permanent ceasefire, safe and unhindered humanitarian aid, an end to illegal Israeli occupation and a halt in all arm sales and transfers to Israel while there is a risk they are used to commit or facilitate serious violations of international humanitarian or human rights law.      

    Jade Tenwick | Brussels, Belgium | jade.tenwick@oxfam.org | mobile +32 473 56 22 60 | Personal (WhatsApp only) +32 484 81 22 94            

    For more information on our work and to see our latest press releases, please visit oxfam.org/eu.         
        
    For updates, follow us on Twitter, BlueSky and LinkedIn.          

    MIL OSI NGO –

    July 17, 2025

  • MIL-OSI Security: Two Men Indicted on 22 Counts for Wire Fraud Conspiracy, Sale of Stolen Vehicles, and Trafficking Stolen Vehicles with Altered VINs

    Source: US FBI

    Greenbelt, Maryland – The U.S. Attorney’s Office for the District of Maryland unsealed a 22-count indictment, charging Jamaican national — Charles Edwards Madden, 39, of New Carrolton, Maryland — and Michael R. Bourne, 33, of New York, New York, with conspiracy, conspiracy to commit wire fraud, operating a chop shop, sale or receipt of stolen vehicles, and trafficking in motor vehicles with altered vehicle identification numbers (VINs).

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the indictment with Assistant Director in Charge Steven J. Jensen, Federal Bureau of Investigation (FBI) – Washington Field Office, and Chief George Nader, Prince George’s County Police Department (PGPD).

    According to the indictment, between at least January 2020, and continuing into June 2024, Madden and Bourne engaged in a conspiracy to buy and sell vehicles that they knew were stolen from various locations across the United States.  As part of the conspiracy, Madden and Bourne altered the VINs to conceal the stolen vehicle scheme and evade law enforcement. 

    Madden and Bourne combined parts from salvaged vehicles and resold them to victim purchasers in Maryland and elsewhere, concealing the prior salvage or damage status and misrepresenting their conditions to buyers.  During the conspiracy, Madden and Bourne obtained dozens of stolen vehicles collectively worth more than $1 million, many of which were transported to and altered in Prince George’s County, Maryland.

    If convicted, Madden and Bourne face a maximum of 20 years in federal prison for wire fraud conspiracy, a maximum of 10 years for sale or receipt of stolen vehicles, and a maximum of 10 years for trafficking in motor vehicles and motor vehicle parts.  Additionally, Madden is charged with operating a chop shop located in Prince George’s County which carries a maximum of 15 years.

    Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge determines sentencing after considering the U.S. Sentencing Guidelines and other statutory factors.

    An indictment is not a finding of guilt.  Individuals charged by indictment are presumed innocent until proven guilty at a later criminal proceeding.

    U.S. Attorney Hayes commended the FBI and PGPD for their work in the investigation.  Ms. Hayes also thanked Assistant U.S. Attorney Megan S. McKoy and Trial Attorneys Amy Schwartz and Alyssa Levey-Weinstein, Justice Department Violent Crime and Racketeering Section, who are prosecuting this case.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to report fraud, please visit justice.gov/usao-md and justice.gov/usao-md/report-fraud.

    # # #

    MIL Security OSI –

    July 17, 2025

  • MIL-OSI: Wilshire Indexes and GCM Grosvenor Launch Private Market Infrastructure Index, Laying Foundation for Broader Strategic Alliance

    Source: GlobeNewswire (MIL-OSI)

    LONDON and CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) — Wilshire Indexes, a global leader in index design, and GCM Grosvenor (NASDAQ: GCMG), a leading global alternative asset management solutions provider, today announced the launch of the jointly developed FT Wilshire Private Markets Infrastructure Index (the “Index”). This first-of-its-kind benchmark fills a void for the asset class by providing investors with a transparent, reliable reference point based on the performance of a diversified universe of leading open-ended infrastructure funds. Until now, infrastructure investors lacked a comprehensive benchmark that truly reflected the breadth of the market. To address growing demand for passive exposure to this universe of assets, GCM Grosvenor is developing one or more investable vehicles designed to track the Index, with anticipated launches in the coming months.

    The Index was created through close collaboration between Wilshire Indexes and GCM Grosvenor, leveraging the breadth, depth, and global scale of both organizations, with support of a select group of leading open-ended infrastructure funds. Wilshire Indexes will calculate and govern the benchmark, drawing on its four-decade heritage of transparent, rules-based index methodologies and next-generation data analytics technology. GCM Grosvenor, leveraging its $82 billion alternative investments platform, will contribute ongoing private market insights and risk management expertise as the Index evolves. In addition, GCM Grosvenor is advancing plans for a single point-of-entry investment vehicle, which it will manage, that will track the Index and offer investors streamlined access to diversified infrastructure exposure.

    “This partnership brings together Wilshire Indexes’ index innovation with GCM Grosvenor’s deep private markets expertise to deliver a simple, scalable solution for infrastructure investing,” said Mark Makepeace, Chief Executive Officer of Wilshire Indexes. “We’re proud to help set a new standard for transparency and accessibility in private assets.”

    Jon Levin, President of GCM Grosvenor, added, “Institutional investors are increasingly asking for an efficient way to gain diversified infrastructure exposure. Working with Wilshire Indexes lets us answer that call today – and lays the groundwork for additional alternative investment products.”

    North Dakota Trust Lands, a longstanding collaborator with both Wilshire Indexes and GCM Grosvenor, played an instrumental role in forging the partnership behind the index and anticipated investor-focused product. “Allocators like us have long searched for a volatility-matched, risk-appropriate, and investable infrastructure benchmark, and we believe that Wilshire Indexes and GCM Grosvenor have the best expertise to help bring this vision to life,” said Frank Mihail, Chief Investment Officer of North Dakota Trust Lands.

    Following the launch of the Infrastructure Index, the Wilshire Indexes and GCM Grosvenor intend to collaborate on additional alternative investment indices and complementary investable products across the alternative investments landscape. Future initiatives will capitalize on the breadth, depth, and global scale of both organizations, leveraging advanced data analytics and scalable technology platforms to further enhance transparent access to alternative assets.

    Wilshire Indexes expects to publish the initial Index results to subscribers in the third quarter of 2025. GCM Grosvenor anticipates launching the prospective tracking vehicles later this year, subject to customary approvals.

    About Wilshire Indexes

    Wilshire Indexes is a global index provider that empowers institutional investors, asset managers and retail intermediaries with unmatched flexibility in solving benchmarking, portfolio construction, and risk management challenges. Transforming the way investors use benchmarks to realize their objectives, Wilshire Indexes provides global coverage of the markets through the leading FT Wilshire Index Series. Combining new technology and modular products in a growth-aligned commercial model designed for collaboration, efficiency, and speed to market, Wilshire Indexes offers a completely new way to work with an index provider.

    About GCM Grosvenor

    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $82 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

    About North Dakota Department of Trust Lands

    The North Dakota Department of Trust Lands manages 2.6 million mineral acres, 700,000 surface acres and 13 permanent education trusts, including the Common Schools Trust Fund currently valued at over $7.5 billion. The Department operates under the direction of the five-member North Dakota Board of University and School Lands, chaired by the governor of North Dakota. Mineral royalty income, agricultural rents and easement revenues from state-owned lands are invested to provide income and grow trusts to benefit education now and for future generations. Since 2014, the Common Schools Trust Fund has distributed more than $2 billion to support North Dakota K-12 education, reducing the burden on local property taxpayers and the state’s general fund. During the 2025-2027 biennium, the Common Schools Trust Fund will distribute $585 million, translating to approximately $2,508 in funding per K-12 student and contributing 24% of the state funding share.

    Media Contact

    Tom Johnson and Abigail Ruck
    H/Advisors Abernathy
    tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
    212-371-5999

    The MIL Network –

    July 17, 2025

  • MIL-OSI: Point Predictive Brings Industry-Leading Fraud Detection And Automation to MeridianLink Platform

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, July 16, 2025 (GLOBE NEWSWIRE) — Point Predictive, the leader in fraud prevention solutions for the lending industry, today announced a new integration with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. The new integration with MeridianLink® Consumer is in addition to the previous integration of MeridianLink DecisionLender®.

    The new integration allows financial institutions to leverage Point Predictive’s comprehensive risk scoring, alerts, and reporting capabilities without leaving their existing MeridianLink Consumer workflow. By embedding AutoPass™ technology directly into the loan origination process, lenders can identify potential fraud in real time while simultaneously reducing document requirements for low-risk applicants. This empowers financial institutions to better protect themselves from fraud while helping to streamline the lending process for members and customers.

    “Credit Unions and banks today face the challenge of combating increasingly sophisticated fraud schemes while meeting their members’ expectations for faster, safer, and more convenient lending experiences,” said Tim Grace, CEO of Point Predictive. “Our integration with MeridianLink Consumer addresses those challenges by delivering powerful fraud detection capabilities within lenders’ existing processes to help identify risk without introducing friction for legitimate borrowers. We are proud to expand our partnership with MeridianLink to bring our powerful scores and alerts to their over 1,900 customers that depend on them.”

    AutoPass helps financial institutions automatically approve up to 80% of credit-approved applications by providing insights that can reduce requirements for proof of income, employment, and identity. The solution’s comprehensive risk score helps prevent 40% to 60% of loans that would default in the first 6-12 months, which often accounts for a significant portion of lender losses annually.

    “At MeridianLink, we’re committed to providing our clients with best-in-class technology that enhances operational efficiency while protecting their financial interests,” said Megan Pulliam, SVP of Marketplace at MeridianLink. “Integrating Point Predictive’s AutoPass solution gives our clients powerful new tools to help combat fraud without sacrificing the streamlined lending experience that both consumers and financial institutions expect.”

    For credit unions and community banks that may lack extensive fraud prevention resources, the integration provides enterprise-level protection through an easy-to-implement solution. The technology draws on Point Predictive’s proprietary data repository of over 87 billion risk insights, encompassing billions of risk attributes across hundreds of millions of historical loan applications from hundreds of lenders and banks.

    The integration features over 150 comprehensive alerts to identify various fraud types, including identity fraud, income fraud, employment fraud, straw borrowers (those buying a vehicle for someone else but representing it is for themselves), collateral fraud (misrepresentation of the vehicle VIN number, etc.), and Dealer fraud.

    Early adopters report significant benefits, including reduced fraud losses, faster application processing times, and increased loan conversion rates. One credit union using the integrated solution has seen a 45% reduction in stipulation requests and a 38% increase in conversions by automating their fraud checks with Point Predictive’s scores and alerts.

    The integration is available to all MeridianLink Consumer, DecisionLender®, and LoansPQ platform customers.

    About Point Predictive

    Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as paystubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line. For more information, please visit pointpredictive.com.

    About MeridianLink

    MeridianLink® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification software solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.

    For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.

    The MIL Network –

    July 17, 2025

  • MIL-OSI: Point Predictive Brings Industry-Leading Fraud Detection And Automation to MeridianLink Platform

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, July 16, 2025 (GLOBE NEWSWIRE) — Point Predictive, the leader in fraud prevention solutions for the lending industry, today announced a new integration with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. The new integration with MeridianLink® Consumer is in addition to the previous integration of MeridianLink DecisionLender®.

    The new integration allows financial institutions to leverage Point Predictive’s comprehensive risk scoring, alerts, and reporting capabilities without leaving their existing MeridianLink Consumer workflow. By embedding AutoPass™ technology directly into the loan origination process, lenders can identify potential fraud in real time while simultaneously reducing document requirements for low-risk applicants. This empowers financial institutions to better protect themselves from fraud while helping to streamline the lending process for members and customers.

    “Credit Unions and banks today face the challenge of combating increasingly sophisticated fraud schemes while meeting their members’ expectations for faster, safer, and more convenient lending experiences,” said Tim Grace, CEO of Point Predictive. “Our integration with MeridianLink Consumer addresses those challenges by delivering powerful fraud detection capabilities within lenders’ existing processes to help identify risk without introducing friction for legitimate borrowers. We are proud to expand our partnership with MeridianLink to bring our powerful scores and alerts to their over 1,900 customers that depend on them.”

    AutoPass helps financial institutions automatically approve up to 80% of credit-approved applications by providing insights that can reduce requirements for proof of income, employment, and identity. The solution’s comprehensive risk score helps prevent 40% to 60% of loans that would default in the first 6-12 months, which often accounts for a significant portion of lender losses annually.

    “At MeridianLink, we’re committed to providing our clients with best-in-class technology that enhances operational efficiency while protecting their financial interests,” said Megan Pulliam, SVP of Marketplace at MeridianLink. “Integrating Point Predictive’s AutoPass solution gives our clients powerful new tools to help combat fraud without sacrificing the streamlined lending experience that both consumers and financial institutions expect.”

    For credit unions and community banks that may lack extensive fraud prevention resources, the integration provides enterprise-level protection through an easy-to-implement solution. The technology draws on Point Predictive’s proprietary data repository of over 87 billion risk insights, encompassing billions of risk attributes across hundreds of millions of historical loan applications from hundreds of lenders and banks.

    The integration features over 150 comprehensive alerts to identify various fraud types, including identity fraud, income fraud, employment fraud, straw borrowers (those buying a vehicle for someone else but representing it is for themselves), collateral fraud (misrepresentation of the vehicle VIN number, etc.), and Dealer fraud.

    Early adopters report significant benefits, including reduced fraud losses, faster application processing times, and increased loan conversion rates. One credit union using the integrated solution has seen a 45% reduction in stipulation requests and a 38% increase in conversions by automating their fraud checks with Point Predictive’s scores and alerts.

    The integration is available to all MeridianLink Consumer, DecisionLender®, and LoansPQ platform customers.

    About Point Predictive

    Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as paystubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line. For more information, please visit pointpredictive.com.

    About MeridianLink

    MeridianLink® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification software solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.

    For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.

    The MIL Network –

    July 17, 2025

  • MIL-OSI: Micropolis Establishes Strategic Partnership with Hader Security and Communication Systems

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, July 16, 2025 (GLOBE NEWSWIRE) — Micropolis Holding Co. (“Micropolis” or the “Company”) (NYSE: MCRP), a pioneer in unmanned ground vehicles and AI-driven security solutions, today announced it has signed a Memorandum of Understanding (MoU) with Hader Security and Communication Systems (“HSCS”), a leading provider of integrated security and communication solutions in the UAE, to establish a strategic partnership which will combine artificial intelligence (AI) and autonomous mobility secure capabilities with reliable communication infrastructure to serve both the public and private sectors.

    Micropolis and HSCS will partner to deliver integrated, high-performance solutions to support each other’s business efforts on a global basis. This collaboration brings together Micropolis’ expertise in AI and autonomous robotics technologies with HSCS’s complementary capabilities as a specialist in mission-critical communications technologies.

    “Our collaboration with HSCS to introduce new AI, robotic solution and advanced communication solutions reflects Micropolis’ commitment to advancing organizations’ goals through the utilization of smart and innovative technologies,” said Fareed Aljawhari, Founder & CEO of Micropolis. “By combining our autonomous robotics and AI capabilities with HSCS’s communications proficiency, we can deliver novel, integrated solutions for organizations within the UAE and beyond.”

    Under this agreement, Micropolis and HSCS will collaborate to design, develop, and deploy integrated robotic and communication solutions across various sectors as well as to identify and pursue joint business opportunities. The partnership builds upon the successful interoperability testing between Micropolis’s autonomous mobile robot (AMR) platforms and HSCS’s proprietary RASIL MESH radio communication system.

    “We’re proud to join forces with Micropolis, a leader in advanced mobile robotics and AI. Together, we bring unmatched capabilities to the table—combining our strengths to deliver a powerful, end-to-end robotics and communications solution. This partnership positions us to meet the surging demand for intelligent automation, empowering customers to streamline operations, cut costs, and boost productivity with confidence,” said Mohamad Tabbara, Founder & CEO of HSCS.

    About Micropolis Holding Co.
    Micropolis is a UAE-based company specializing in the design, development, and manufacturing of unmanned ground vehicles (UGVs), AI systems, and smart infrastructure for urban, security, and industrial applications. The Company’s vertically integrated capabilities cover everything from mechatronics and embedded systems to AI software and high-level autonomy.

    For more information please visit www.micropolis.ai.

    About Hader Security and Communication Systems (HSCS)
    Hader Security and Communication Systems (HSCS) is a leading provider of integrated security and communication solutions in the UAE. With a focus on delivering state-of-the-art technologies, HSCS specializes in tailored systems for critical infrastructure, government, and industrial operations. By combining innovation with expertise, HSCS empowers clients to achieve operational excellence and enhance safety across dynamic environments.

    For more information please visit www. https://www.hscsystem.com.

    Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Micropolis’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the registration statement filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    Investor Contact:
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    PH: (212) 896-1254
    Valter@KCSA.com

    Media Contact:
    Jessica Starman
    media@elev8newmedia.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/000a1f0f-7193-431b-a9d2-dd417402bf09

    The MIL Network –

    July 17, 2025

  • MIL-OSI: Plumas Bancorp Reports Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the second quarter of 2025 of $6.3 million or $1.07 per share, a decrease of $465 thousand from $6.8 million or $1.15 per share during the second quarter of 2024. Diluted earnings per share decreased to $1.05 per share during the three months ended June 30, 2025 down from $1.14 per share during the quarter ended June 30, 2024.

    Return on average assets was 1.56% during the current quarter, down from 1.67% during the second quarter of 2024. Return on average equity decreased to 13.4% for the three months ended June 30, 2025, down from 17.1% during the second quarter of 2024.

    Net interest income decreased by $222 thousand from $18.4 million during the three months ended June 30, 2024, to $18.2 million during the current quarter. The provision for credit losses decreased from $925 thousand during the second quarter of 2024 to $860 thousand during the current quarter.

    Non-interest income increased by $159 thousand from $2.2 million during the three months ended June 30, 2024 to $2.4 million during the second quarter of 2025.

    Non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. Of this amount, $481 thousand relates to costs associated with our acquisition of Cornerstone Community Bancorp. We signed a definitive agreement to acquire Cornerstone Community Bancorp on January 28, 2025 and we completed the merger on July 1, 2025. Merger transaction costs that facilitate the merger are not deductible for income tax purposes. Of the $481 thousand in merger related costs, $239 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes decreased by $149 thousand from $2.5 million, 26.9% of pre-tax income, during the three months ended June 30, 2024 to $2.4 million, or 27.1% of pre-tax income, during the current quarter.

    For the six months ended June 30, 2025, the Company reported net income of $13.5 million or $2.28 per share, an increase of $461 thousand from $13.0 million or $2.21 per share earned during the six months ended June 30, 2024. Earnings per diluted share increased to $2.25 during the six months ended June 30, 2025, up $0.06 from $2.19 during the first six months of 2024.     

    Return on average assets was 1.67% during the six months ended June 30, 2025, up from 1.61% during the first half of 2024. Return on average equity decreased to 14.7% for the six months ended June 30, 2025, down from 16.7% during the first half of 2024.

    Net interest income increased by $860 thousand from $35.9 million during the six months ended June 30, 2024, to $36.7 million during the current period. The provision for credit losses decreased from $1.7 million during the first half of 2024 to $1.1 million during the current period.

    Non-interest income increased by $1.2 million from $4.3 million during the six months ended June 30, 2024 to $5.5 million during the first half of 2025 related primarily to a legal settlement totaling $1.1 million. This settlement related to the Dixie Fire which swept through the town of Greenville, California in August of 2021. The fire caused severe damage to the Greenville area, including the telecommunications infrastructure which adversely affected our ability to service our customers in this area during the last few years.

    Non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. Of this amount, $1.1 million relates to costs associated with our pending acquisition of Cornerstone Community Bancorp. Of the $1.1 million in merger related costs, $801 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes increased by $583 thousand from $4.6 million, or 26.2% of pre-tax income, during the six months ended June 30, 2024 to $5.2 million, or 27.8% of pre-tax income, during the current period.

    Balance Sheet Highlights
    June 30, 2025 compared to June 30, 2024

    • Gross loans increased by $21 million, or 2%, to $1.0 billion.
    • Total deposits increased by $62 million, or 5%, to $1.4 billion.
    • Borrowings decreased by $105 million, or 88% to $15 million.
    • Total equity increased by $28 million, or 17%, to $193 million.
    • Book value per share increased by $4.53, or 16%, to $32.54.

    President’s Comments

    Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, announced, “The third quarter of 2025 began with a major development for Plumas; we successfully completed our acquisitions of Cornerstone Community Bank and Bancorp, expanding our presence in California’s northern Sacramento Valley. We are thrilled to have Ken Robison, formerly a director at Cornerstone, join the boards of Plumas Bancorp and Bank. We also welcome Matt Moseley, former President and CEO of Cornerstone Community Bank, to the executive team as Market President. Their extensive leadership experience and market knowledge will be instrumental in the ongoing success of our combined organization.”

    Ryback continued, “Beyond the acquisition, we have also been focused on internal advancements. We are expanding our treasury management services to provide comprehensive, personalized banking solutions with enhanced security features. Simultaneously, we have gained efficiency in our lending process through on-going refinements to our lending platforms and department structures.”

    Ryback concluded, “We extend a warm welcome to the clients, employees, and shareholders of Cornerstone. We look forward to providing long-term value to our expanded shareholders, clients, team members, and communities.”

    Loans, Deposits, Investments and Cash

    Gross loans increased by $21 million, or 2%, from $997 million at June 30, 2024, to $1.0 billion at June 30, 2025. Increases in loans included $85 million in commercial real estate loans and $3 million in equity lines of credit; these items were partially offset by decreases of $29 million in automobile loans, $27 million in construction loans, $10 million in agricultural loans and $1 million in residential real estate loans.

    On   June 30, 2025, approximately 78% of the Company’s loan portfolio was comprised of variable rate loans. The rates of interest charged on variable rate loans are set at specific increments in relation to the Company’s lending rate or other indexes such as the published prime interest rate or U.S. Treasury rates and vary with changes in these indexes. The frequency at which variable rate loans reprice can vary from one day to several years. Most of our commercial real estate portfolio reprices every five years. Approximately 76% of the variable rate loans are indexed to the five year T-Bill rate and reprice every five years. Loans indexed to the prime interest rate were approximately 21% of the Company’s variable rate loan portfolio; these loans reprice within one day to three months of a change in the prime rate.

    Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. The increase in deposits includes increases of $67 million in money market accounts and $29 million in time deposits. Partially offsetting these increases were decreases of $2 million in demand deposits and $32 million in savings deposits. We attribute much of the increase in money market accounts to higher rate public entity deposits. At June 30, 2025, 49% of the Company’s deposits were in the form of non-interest-bearing demand deposits. The Company had no brokered deposits at June 30, 2025 and June 30, 2024.

    Total investment securities decreased by $5 million from $445 million at June 30, 2024, to $440 million at June 30, 2025. The Bank’s investment security portfolio consists of debt securities issued by US Government agencies, US Government sponsored agencies and municipalities. Cash and due from banks decreased by $31 million from $110 million at June 30, 2024, to $79 million at June 30, 2025.

    Asset Quality

    Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at June 30, 2025 were $13.7 million, up from $9.1 million at June 30, 2024. Nonperforming assets as a percentage of total assets increased to 0.84% at June 30, 2025 up from 0.56% at June 30, 2024. OREO decreased by $50 thousand from $141 thousand at June 30, 2024 to $91 thousand at June 30, 2025. Nonperforming loans were $13.6 million at June 30, 2025 and $9.0 million at June 30, 2024. Nonaccrual loans totaled $13.6 million at June 30, 2025 and $2.5 million at June 30, 2024. At June 30, 2025 there were no loans 90 days or more past due that were not on nonaccrual. The difference between the $2.5 million in nonaccrual loans at June 30, 2024 and the $9 million in nonperforming loans in 2024 were loans that were over 90 days past due, but not on nonaccrual. Nonperforming loans as a percentage of total loans increased to 1.34% at June 30, 2025, up from 0.90% at June 30, 2024. The increase in nonperforming loans is related to one agricultural loan relationship of 15 loans totaling $9.9 million. The borrower on these loans was unable to meet his commitments under modified loan agreements and therefore during the quarter we placed the loans on nonaccrual status. Interest reversed on these loans during the current quarter totaled $344 thousand and specific loan loss reserves totaling $931 thousand were applied against the loans.

    During the first half of 2025 we recorded a provision for credit losses of $1.1 million consisting of a provision for credit losses on loans of $1.1 million and a decrease in the reserve for unfunded commitments of $40 thousand. The $1.1 million mostly relates to the specific loan loss reserves noted in the previous paragraph. This compares to a provision for credit losses of $1.7 million consisting of a provision for credit losses on loans of $1.8 million and a decrease in the reserve for unfunded commitments of $79 thousand during the six months ended June 30, 2024.

    Net charge-offs totaled $137 thousand and $610 thousand during the six months ended June 30, 2025 and 2024, respectively. The allowance for credit losses totaled $14.2 million at June 30, 2025 and $14.1 million at June 30, 2024. The allowance for credit losses as a percentage of total loans was 1.39% and 1.41% at June 30, 2025 and 2024.

    The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the six months ended June 30, 2025 and 2024 (in thousands).

    Allowance for Credit Losses   June 30, 2025     June 30, 2024
    Balance, beginning of period $ 13,196     $ 12,867  
    Provision charged to operations   1,150       1,825  
    Losses charged to allowance   (506 )     (1,010 )
    Recoveries                                   369       400  
    Balance, end of period $     14,209     $     14,082  
    Reserve for Unfunded
    Commitments    		  

    June 30, 2025

    		    

    June 30, 2024
    Balance, beginning of period $                                620     $ 799  
    Provision charged to operations   (40 )     (79 )
    Balance, end of period $                                 580     $ 720  

    Shareholders’ Equity

    Total shareholders’ equity increased by $27.9 million from $165.2 million at June 30, 2024, to $193.1 million at June 30, 2025. The $27.9 million includes earnings during the twelve-month period totaling $29.1 million, a decrease in accumulated other comprehensive loss of $4.4 million and restricted stock and stock option activity totaling $1.1 million. These items were partially offset by the payment of cash dividends totaling $6.7 million.

    Bank Term Funding Program (BTFP)

    At June 30, 2024, the Company had outstanding borrowings under BTFP totaling $105 million. All BTFP borrowings were paid off during 2024. Interest expense recognized on the BTFP borrowings for the three and six-months ended June 30, 2024, was $1.3 million and $2.5 million, respectively.

    Liquidity

    The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers’ borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established credit lines.

    The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to $255 million from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $439 million. The Company is also eligible to borrow at the Federal Reserve Bank (FRB) Discount Window. At June 30, 2025, the Company could borrow up to $98 million at the Discount Window secured by investment securities with a fair value of $101 million. In addition to its FHLB borrowing line and the Discount Window, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $50 million and $20 million. There were no outstanding borrowings to the FHLB, FRB Discount Window or the correspondent banks at June 30, 2025 and 2024.

    Customer deposits are the Company’s primary source of funds. Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. Deposits are held in various forms with varying maturities. The Company estimates that it has approximately $516 million in uninsured deposits which include uninsured deposits of Plumas Bancorp. Of this amount, $206 million represents deposits that are collateralized such as deposits of states, municipalities and tribal accounts.

    The Company’s securities portfolio, Discount Window advances, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the FRB and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the near future.

    Net Interest Income and Net Interest Margin – Three Months Ended June 30, 2025

    Net interest income was $18.2 million for the three months ended June 30, 2025, a decrease of $222 thousand from the same period in 2024. The decrease in net interest income includes a decrease of $527 thousand in interest income partially offset by a decrease of $305 thousand in interest expense. Interest and fees on loans increased by $200 thousand related to growth in the loan portfolio partially offset by a decline in yield.

    Average loan balances increased by $39 million, while the average yield on these loans decreased by 18 basis points from 6.32% during the second quarter of 2024 to 6.14% during the current quarter. Of the 18 basis points decrease, 13 basis points relate to the reversal of $344 thousand in interest previously described under “Asset Quality” The average prime interest rate decreased from 8.5% during the second quarter of 2024 to 7.5% during the current quarter. Approximately 16% of the Company’s loans are tied to the prime interest rate and most of these reprice within one to three months with a change in prime. Additionally, during the second quarter of 2024 we recovered $316 thousand in interest on loans that were classified as nonaccrual and which were paid off in full during the quarter which elevated loan yield during the 2024 quarter. The effect of these items was partially offset by an increase in average yield on the bank’s fixed rate portfolio which includes growth in fixed rate SBA loans which totaled $75 million at June 30, 2025, and $62 million at June 30, 2024. The weighted average rate earned on this portfolio at June 30, 2025, was 8.3%. The Bank is also benefiting from the repricing of a portion of our Commercial Real Estate loans. Most of these loans are indexed to the 5-year Treasury note and reprice every five years.

    Interest on investment securities decreased by $30 thousand as yield on these securities decreased slightly from 4.11% during the 2024 quarter to 4.08% during the current quarter and average investment securities declined from $444 million during the three months ended June 30, 2024 to $442 million during the current quarter.

    Interest on cash balances decreased by $697 thousand related to a decline in average balance of $42 million and a decrease in average rate paid on cash balances of 104 basis points from 5.51% during the second quarter of 2024 to 4.47% during the current quarter. This decline in yield was mostly related to a decline in rate paid on balances held at the FRB. The average rate earned on FRB balances decreased from 5.40% during the second quarter of 2024 to 4.40% during the current quarter.

    Interest expense decreased by $305 thousand, related to the repayment of the BTFP borrowings as discussed earlier. The average rate paid on interest bearing liabilities decreased from 1.44% during the 2024 quarter to 1.33% in 2025 related to the decrease in these borrowings.

    Interest paid on deposits increased by $968 thousand and is broken down by product type as follows: money market accounts – $815 thousand, savings deposits – $83 thousand and time deposits $70 thousand. The increase in interest paid on money market accounts mostly relates to an increase in public entity balances and the rate earned on these balances. During the second half of 2024 and continuing into 2025, we have offered a premium money market rate on large balances of public entities in our service area, matching the rate they could earn from the California local agency investment fund. This has led to the significant increase in balances and rate paid on money market accounts. The average balance of money market accounts during the current quarter was $288 million, an increase of $72 million from $216 million during the three months ended June 30, 2024. The average rate paid on money market accounts increased 92 basis points to 1.79%. The increase in interest on savings accounts was driven by an increase in the average rate paid of 12 basis points to 34 basis points. The increase in interest on time deposits includes an increase in average balance of $23 million partially offset by a decline in average rate paid of 33 basis points to 2.53% as promotional time deposits issued in 2024 matured. Many of these promotional time deposits were renewed at lower rates. The average rate paid on interest-bearing deposits increased from 0.84% during the second quarter of 2024 to 1.30% during the current quarter. The average balance of interest-bearing deposits increased from $633 million during the three months ended June 30, 2024 to $705 million during the quarter.

    Net interest margin for the three months ended June 30, 2025 decreased 6 basis points to 4.83%, down from 4.89% for the same period in 2024. Excluding the $344 thousand in interest reversed described earlier, net interest margin for the three months ended June 30, 2025 would have been 4.93%.

    Net Interest Income and Net Interest Margin – Six Months Ended June 30, 2025

    Net interest income for the six months ended June 30, 2025 was $36.7 million, an increase of $860 thousand from the $35.9 million earned during the same period in 2024. The increase in net interest income includes an increase of $36 thousand in interest income and a reduction in interest expense of $824 thousand.

    Interest and fees on loans increased by $1.0 million related to an increase in average balance partially offset by a decline in yield. The average balance of loans during the six months ended June 30, 2025 was $1.0 billion, an increase of $44 million from $972 million during the same period in 2024. The average yield on loans decreased by 6 basis points from 6.21% during the first six months of 2024 to 6.15% during the current period.

    Interest on investment securities increased by $84 thousand related to an increase in yield of 21 basis points to 4.10% partially offset by a decline in average balance. The increase in investment yields is consistent with the increase in market rates and the restructuring of the investment portfolio in February of 2024. Average investment securities declined from $462 million during the six months ended June 30, 2024 to $443 million during the current period.

    Interest on cash balances declined by $1.1 million related to both a decline in balance and a decline in yield. The rate earned on cash balances declined by 104 basis points to 4.5% and the average balance declined from $81.8 million during the first six months of 2024 to $53.8 million during the current period.

    Related to a $2.5 million decline in interest on BTFP borrowings partially offset by an increase in interest bearing deposits and an increase in the cost of these deposits, interest expense decreased from $5.3 million during the six months ended June 30, 2024 to $4.5 million during the current period. The average rate paid on interest bearing liabilities decreased from 1.39% during the 2024 period to 1.24% in 2025.

    Interest paid on deposits increased by $1.7 million and is broken down by product type as follows: money market accounts – $1.6 million and savings deposits – $109 thousand. The average rate paid on interest-bearing deposits increased from 0.79% during the six months ended June 30, 2024 to 1.21% during the current period. Average interest-bearing deposits totaled $698 million during the first half of 2025 an increase of $62 million from $636 million during the first half of 2024.

    Net interest margin for the six months ended June 30, 2025 increased 13 basis points to 4.89%, up from 4.76% for the same period in 2024.

    Non-Interest Income/Expense – Three Months Ended June 30, 2025

    Non-interest income increased by $159 thousand to $2.4 million during the current quarter. The largest increase was related to a $184 thousand adjustment to the value of our stock holdings in one of our correspondent banks.

    During the three months ended June 30, 2025, total non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. The largest components of this increase were merger related expenses of $481 thousand and salary and benefit expense of $270 thousand. The increase in salary and benefit expense includes an increase in salary expense of $216 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $144 thousand was offset by a decline in commission expense of $180 thousand. Both items mostly relate to a decline in SBA loan production during the comparison quarters.

    Non-Interest Income/Expense – Six Months Ended June 30, 2025

    During the six months ended June 30, 2025, non-interest income totaled $5.6 million, an increase of $1.2 million from the six months ended June 30, 2024. The largest component of this increase was a legal settlement totaling $1.1 million related to the Dixie Fire in August of 2021.

    During the six months ended June 30, 2025, total non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. The largest components of this increase were merger related expenses of $1.1 million, salary and benefit expenses of $784 thousand and occupancy and equipment expenses of $425 thousand. The increase in salary and benefit expense included an increase in salary expense of $484 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $257 thousand was offset by a decline in commission expense of $317 thousand. Both items mostly relate to a decline in SBA loan production during the comparison periods. The increase in occupancy and equipment expense mostly relates to an increase in rent expense of $374 thousand related to the February 2024 sales/leaseback transaction. Partially offsetting these increases in expense were several reductions in non-interest expense the largest of which was a reduction in professional fees of $320 thousand. Included in professional fees during the six months ended June 30, 2024 were legal expenses totaling $188 thousand related to a litigation matter that was settled in the second half of 2024.

    Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates nineteen branches: seventeen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sutter and Tehama and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.

    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

    Contact: Jamie Huynh
    Investor Relations
    Plumas Bancorp
    5525 Kietzke Lane Ste. 100
    Reno, NV 89511
    775.786.0907 x8908
    investorrelations@plumasbank.com

    PLUMAS BANCORP
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      As of June 30,        
      2025   2024   Dollar
    Change    		   Percentage
    Change
    ASSETS              
    Cash and due from banks $ 79,266   $ 109,852   $ (30,586)   (27.8)%
    Investment securities 439,676   445,132   (5,456)   (1.2)%
    Loans, net of allowance for credit losses 1,006,873   986,517   20,356   2.1%
    Premises and equipment, net 12,065   12,868   (803)   (6.2)%
    Right-of-use assets 23,912   24,975   (1,063)   (4.3)%
    Bank owned life insurance 16,736   16,310   426   2.6%
    Real estate acquired through foreclosure 91   141   (50)   (35.5)%
    Goodwill 5,502   5,502   –   0.0%
    Accrued interest receivable and other assets 44,396   40,800   3,596   8.8%
    Total assets $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
    LIABILITIES AND              
       SHAREHOLDERS’ EQUITY  
    Deposits $ 1,366,827   $ 1,304,587   $ 62,240   4.8%
    Accrued interest payable and other liabilities 53,611   52,355   1,256   2.4%
    Borrowings 15,000   120,000   (105,000)   (87.5)%
    Total liabilities 1,435,438   1,476,942   (41,504)   (2.8)%
    Common stock 29,803   28,656   1,147   4.0%
    Retained earnings 183,954   161,608   22,346   13.8%
    Accumulated other comprehensive loss, net (20,678)   (25,109)   4,431   17.6%
    Shareholders’ equity 193,079   165,155   27,924   16.9%
    Total liabilities and shareholders’ equity $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
                   
    FOR THE THREE MONTHS ENDED JUNE 30, 2025   2024   Dollar
    Change    		   Percentage
    Change
                   
    Interest income $ 20,633   $ 21,160   $ (527)   (2.5)%
    Interest expense 2,450   2,755   (305)   (11.1)%
    Net interest income before provision for credit losses 18,183   18,405   (222)   (1.2)%
    Provision for credit losses 860   925   (65)   (7.0)%
    Net interest income after provision for credit losses 17,323   17,480   (157)   (0.9)%
    Non-interest income 2,361   2,202   159   7.2%
    Non-interest expense 11,012   10,396   616   5.9%
    Income before income taxes 8,672   9,286   (614)   (6.6)%
    Provision for income taxes 2,351   2,500   (149)   (6.0)%
    Net income $ 6,321   $ 6,786   $ (465)   (6.9)%
                   
    Basic earnings per share $ 1.07   $ 1.15   $ (0.08)   (7.0)%
    Diluted earnings per share $ 1.05   $ 1.14   $ (0.09)   (7.9)%
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
              Dollar   Percentage
    FOR THE SIX MONTHS ENDED JUNE 30, 2025   2024   Change   Change
                   
    Interest income $ 41,223   $ 41,187   $ 36   0.1%
    Interest expense 4,501   5,325   (824)   (15.5)%
    Net interest income before provision for credit losses 36,722   35,862   860   2.4%
    Provision for credit losses 1,110   1,746   (636)   (36.4)%
    Net interest income after provision for credit losses 35,612   34,116   1,496   4.4%
    Non-interest income 5,574   4,342   1,232   28.4%
    Non-interest expense 22,477   20,793   1,684   8.1%
    Income before income taxes 18,709   17,665   1,044   5.9%
    Provision for income taxes 5,208   4,625   583   12.6%
    Net income $ 13,501   $ 13,040   $ 461   3.5%
                   
    Basic earnings per share $ 2.28   $ 2.21   $ 0.07   3.2%
    Diluted earnings per share $ 2.25   $ 2.19   $ 0.06   2.7%
             
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands, except per share data)
    (Unaudited)
                       
      Three Months Ended   Six Months Ended
      6/30/2025   3/31/2025   6/30/2024   6/30/2025   6/30/2024
    EARNINGS PER SHARE                  
    Basic earnings per share $ 1.07     $ 1.21     $ 1.15     $ 2.28     $ 2.21  
    Diluted earnings per share $ 1.05     $ 1.20     $ 1.14     $ 2.25     $ 2.19  
    Weighted average shares outstanding   5,929       5,911       5,896       5,920       5,892  
    Weighted average diluted shares outstanding   6,006       6,002       5,946       6,006       5,946  
    Cash dividends paid per share 1 $ 0.30     $ 0.30     $ 0.27     $ 0.60     $ 0.54  
                       
    PERFORMANCE RATIOS (annualized for the three months)            
    Return on average assets   1.56 %   1.79 %   1.67 %   1.67 %     1.61 %
    Return on average equity   13.4 %   16.0 %   17.1 %   14.7 %     16.7 %
    Yield on earning assets   5.48 %   5.50 %   5.62 %   5.49 %     5.46 %
    Rate paid on interest-bearing liabilities   1.33 %   1.14 %   1.44 %   1.24 %     1.39 %
    Net interest margin   4.83 %   4.95 %   4.89 %   4.89 %     4.76 %
    Noninterest income to average assets   0.58 %   0.80 %   0.54 %   0.69 %     0.54 %
    Noninterest expense to average assets   2.72 %   2.85 %   2.56 %   2.79 %     2.57 %
    Efficiency ratio 2   53.6 %   52.7 %   50.4 %   53.1 %     51.7 %
                       
      6/30/2025   3/31/2025   6/30/2024   12/31/2024   12/31/2023
    CREDIT QUALITY RATIOS AND DATA                  
    Allowance for credit losses $ 14,209     $ 13,319     $ 14,082     $ 13,196     $ 12,867  
    Allowance for credit losses as a percentage of total loans   1.39 %     1.32 %     1.41 %     1.30 %     1.34 %
    Nonperforming loans $ 13,652     $ 3,686     $ 8,974     $ 4,105     $ 4,820  
    Nonperforming assets $ 13,747     $ 3,787     $ 9,148     $ 4,307     $ 5,315  
    Nonperforming loans as a percentage of total loans   1.34 %     0.36 %     0.90 %     0.40 %     0.50 %
    Nonperforming assets as a percentage of total assets   0.84 %     0.23 %     0.56 %     0.27 %     0.33 %
    Year-to-date net charge-offs $ 137     $ 127     $ 610     $ 1,046     $ 954  
    Year-to-date net charge-offs as a percentage of average   0.03 %     0.05 %     0.13 %   0.11 %     0.10 %
    loans (annualized)      
                       
    CAPITAL AND OTHER DATA                  
    Common shares outstanding at end of period   5,934       5,922       5,896       5,903       5,872  
    Shareholders’ equity $ 193,079     $ 187,603     $ 165,155     $ 177,899     $ 147,317  
    Book value per common share $ 32.54     $ 31.68     $ 28.01     $ 30.14     $ 25.09  
    Tangible common equity3 $ 186,874     $ 181,354     $ 158,763     $ 171,606     $ 140,823  
    Tangible book value per common share4 $ 31.49     $ 30.62     $ 26.93     $ 29.07     $ 23.98  
    Tangible common equity to total assets   11.5 %     11.1 %     9.7 %     10.6 %     8.7 %
    Gross loans to deposits   74.7 %     73.6 %     76.4 %     74.1 %     71.9 %
                       
    PLUMAS BANK REGULATORY CAPITAL RATIOS              
    Tier 1 Leverage Ratio   12.7 %     12.3 %     11.3 %     11.9 %     10.8 %
    Common Equity Tier 1 Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Tier 1 Risk-Based Capital Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Total Risk-Based Capital Ratio   19.2 %     19.0 %     17.6 %     18.5 %     16.9 %
    (1) The Company paid a quarterly cash dividend of $0.30 per share on February 17, 2025, May 15, 2025 and a quarterly cash dividend of $0.27 per share on February 15, 2024, May 15, 2024, August 15, 2024 and November 15, 2024 and a quarterly cash dividend of $0.25 per share on February 15, 2023, May 15, 2023 , August 15, 2023 and November 15, 2023.
    (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).   
    (3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill.      
    (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding.    
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Three Months Ended   For the Three Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,020,004   $ 15,612   6.14 %   $ 980,723   $ 15,412   6.32 %
    Investment securities     369,624     3,913   4.25 %     367,841     3,932   4.30 %
    Non-taxable investment securities (1)     72,719     591   3.26 %     76,275     602   3.17 %
    Interest-bearing deposits     46,368     517   4.47 %     88,607     1,214   5.51 %
    Total interest-earning assets     1,508,715     20,633   5.48 %     1,513,446     21,160   5.62 %
    Cash and due from banks     26,880             26,859        
    Other assets     87,117             90,092        
    Total assets   $ 1,622,712           $ 1,630,397        
                             
    Interest-bearing liabilities:                        
    Money market deposits     287,707     1,283   1.79 %     215,614     468   0.87 %
    Savings deposits     298,989     257   0.34 %     322,919     174   0.22 %
    Time deposits     118,057     744   2.53 %     94,684     674   2.86 %
    Total deposits     704,753     2,284   1.30 %     633,217     1,316   0.84 %
    Borrowings     15,000     146   3.90 %     120,000     1,431   4.80 %
    Other interest-bearing liabilities     17,265     20   0.46 %     16,809     8   0.19 %
    Total interest-bearing liabilities     737,018     2,450   1.33 %     770,026     2,755   1.44 %
    Non-interest-bearing deposits     659,554             663,094        
    Other liabilities     37,112             37,794        
    Shareholders’ equity     189,028             159,483        
    Total liabilities & equity   $ 1,622,712           $ 1,630,397        
    Cost of funding interest-earning assets (4)           0.65 %           0.73 %
    Net interest income and margin (5)       $ 18,183   4.83 %       $ 18,405   4.89 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $4.1 million for 2025 and $4.2 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the three-month periods ended June 30, 2025 and 2024 were $196 thousand and $338 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the six-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Six Months Ended   For the Six Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,016,008   $ 31,008   6.15 %   $ 972,427   $ 30,005   6.21 %
    Investment securities     369,376     7,840   4.28 %     369,815     7,537   4.10 %
    Non-taxable investment securities (1)     73,795     1,174   3.21 %     92,225     1,393   3.04 %
    Interest-bearing deposits     53,845     1,201   4.50 %     81,807     2,252   5.54 %
    Total interest-earning assets     1,513,024     41,223   5.49 %     1,516,274     41,187   5.46 %
    Cash and due from banks     26,679             26,722        
    Other assets     86,732             85,300        
    Total assets   $ 1,626,435           $ 1,628,296        
                             
    Interest-bearing liabilities:                        
    Money market deposits     283,469     2,429   1.73 %     213,399     844   0.80 %
    Savings deposits     311,151     463   0.30 %     329,242     354   0.22 %
    Time deposits     103,304     1,288   2.51 %     93,092     1,304   2.82 %
    Total deposits     697,924     4,180   1.21 %     635,733     2,502   0.79 %
    Borrowings     15,000     290   3.90 %     117,170     2,798   4.80 %
    Other interest-bearing liabilities     19,216     31   0.33 %     19,260     25   0.26 %
    Total interest-bearing liabilities     732,140     4,501   1.24 %     772,163     5,325   1.39 %
    Non-interest-bearing deposits     670,961             668,441        
    Other liabilities     37,602             31,118        
    Shareholders’ equity     185,732             156,574        
    Total liabilities & equity   $ 1,626,435           $ 1,628,296        
    Cost of funding interest-earning assets (4)           0.60 %           0.70 %
    Net interest income and margin (5)       $ 36,722   4.89 %       $ 35,862   4.76 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $3.9 million for 2025 and $4.8 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the six-month periods ended June 30, 2025 and 2024 were $471 thousand and $682 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Interchange income $ 784   $ 782     2     0.3 %
    Service charges on deposit accounts   781     743     38     5.1 %
    Loan servicing fees   148     186     (38 )   (20.4 )%
    FHLB Dividends   135     136     (1 )   (0.7 )%
    Earnings on life insurance policies   108     104     4     3.8 %
    Other   405     251     154     61.4 %
    Total non-interest income $ 2,361   $ 2,202   $ 159     7.2 %
                   
    The following table presents the components of non-interest expense for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 5,553   $ 5,283   $ 270     5.1 %
    Occupancy and equipment   2,050     1,949     101     5.2 %
    Outside service fees   1,160     1,184     (24 )   (2.0 )%
    Merger and acquisition expenses   481     –     481     100.0 %
    Advertising and shareholder relations   273     214     59     27.6 %
    Armored car and courier   224     220     4     1.8 %
    Professional fees   219     329     (110 )   (33.4 )%
    Business development   188     210     (22 )   (10.5 )%
    Deposit insurance   180     185     (5 )   (2.7 )%
    Director compensation and expense   155     199     (44 )   (22.1 )%
    Telephone and data communication   124     204     (80 )   (39.2 )%
    Loan collection expenses   51     117     (66 )   (56.4 )%
    Amortization of Core Deposit Intangible   44     51     (7 )   (13.7 )%
    Other   310     251     59     23.5 %
    Total non-interest expense $ 11,012   $ 10,396   $ 616     5.9 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Service charges on deposit accounts $ 1,486   $ 1,458     $ 28     1.9 %
    Interchange income   1,474     1,522       (48 )   (3.2 )%
    Loan servicing fees   334     388       (54 )   (13.9 )%
    FHLB Dividends   272     273       (1 )   (0.4 )%
    Earnings on life insurance policies   217     200       17     8.5 %
    Gain (loss) on sale of investment securities   3     (19,826 )     19,829     (100.0 )%
    Gain on sale of buildings   –     19,854       (19,854 )   (100.0 )%
    Other   1,788     473       1,315     278.0 %
    Total non-interest income $ 5,574   $ 4,342     $ 1,232     28.4 %
                   
    The following table presents the components of non-interest expense for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 11,433   $ 10,649     $ 784     7.4 %
    Occupancy and equipment   4,064     3,639       425     11.7 %
    Outside service fees   2,424     2,316       108     4.7 %
    Merger and acquisition expenses   1,050     –       1,050     100.0 %
    Advertising and shareholder relations   535     458       77     16.8 %
    Professional fees   448     768       (320 )   (41.7 )%
    Armored car and courier   441     422       19     4.5 %
    Deposit insurance   362     372       (10 )   (2.7 )%
    Business development   355     363       (8 )   (2.2 )%
    Director compensation and expense   321     366       (45 )   (12.3 )%
    Telephone and data communication   298     426       (128 )   (30.0 )%
    Loan collection expenses   122     221       (99 )   (44.8 )%
    Amortization of Core Deposit Intangible   87     102       (15 )   (14.7 )%
    Other   537     691       (154 )   (22.3 )%
    Total non-interest expense $ 22,477   $ 20,793     $ 1,684     8.1 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                     
    The following table shows the distribution of loans by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Commercial   $ 81,118   8.0 %   $ 81,170   8.1 %
    Agricultural     113,850   11.2 %     123,661   12.4 %
    Real estate – residential     11,053   1.1 %     11,755   1.2 %
    Real estate – commercial     673,129   66.1 %     588,332   59.0 %
    Real estate – construction & land     40,798   4.0 %     67,960   6.8 %
    Equity Lines of Credit     41,620   4.1 %     38,446   3.9 %
    Auto     51,487   5.1 %     80,751   8.1 %
    Other     4,791   0.4 %     5,259   0.5 %
    Total Gross Loans   $ 1,017,846   100 %   $ 997,334   100 %
                     
    The following table shows the distribution of Commercial Real Estate loans at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Owner occupied   $ 294,765   43.8 %   $ 240,346   40.9 %
    Investor     378,364   56.2 %     347,986   59.1 %
    Total real estate – commercial   $ 673,129   100 %   $ 588,332   100 %
                     
                     
    The following table shows the distribution of deposits by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Deposits in Each     Deposits in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Deposits   of Period   Total Deposits
        6/30/25   6/30/25   6/30/24   6/30/24
    Non-interest bearing   $ 668,086   48.9 %   $ 670,652   51.4 %
    Money Market     281,516   20.6 %     214,063   16.4 %
    Savings     290,440   21.2 %     322,081   24.7 %
    Time     126,785   9.3 %     97,791   7.5 %
    Total Deposits   $ 1,366,827   100 %   $ 1,304,587   100 %
                     

    The MIL Network –

    July 17, 2025

  • MIL-OSI: Plumas Bancorp Reports Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the second quarter of 2025 of $6.3 million or $1.07 per share, a decrease of $465 thousand from $6.8 million or $1.15 per share during the second quarter of 2024. Diluted earnings per share decreased to $1.05 per share during the three months ended June 30, 2025 down from $1.14 per share during the quarter ended June 30, 2024.

    Return on average assets was 1.56% during the current quarter, down from 1.67% during the second quarter of 2024. Return on average equity decreased to 13.4% for the three months ended June 30, 2025, down from 17.1% during the second quarter of 2024.

    Net interest income decreased by $222 thousand from $18.4 million during the three months ended June 30, 2024, to $18.2 million during the current quarter. The provision for credit losses decreased from $925 thousand during the second quarter of 2024 to $860 thousand during the current quarter.

    Non-interest income increased by $159 thousand from $2.2 million during the three months ended June 30, 2024 to $2.4 million during the second quarter of 2025.

    Non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. Of this amount, $481 thousand relates to costs associated with our acquisition of Cornerstone Community Bancorp. We signed a definitive agreement to acquire Cornerstone Community Bancorp on January 28, 2025 and we completed the merger on July 1, 2025. Merger transaction costs that facilitate the merger are not deductible for income tax purposes. Of the $481 thousand in merger related costs, $239 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes decreased by $149 thousand from $2.5 million, 26.9% of pre-tax income, during the three months ended June 30, 2024 to $2.4 million, or 27.1% of pre-tax income, during the current quarter.

    For the six months ended June 30, 2025, the Company reported net income of $13.5 million or $2.28 per share, an increase of $461 thousand from $13.0 million or $2.21 per share earned during the six months ended June 30, 2024. Earnings per diluted share increased to $2.25 during the six months ended June 30, 2025, up $0.06 from $2.19 during the first six months of 2024.     

    Return on average assets was 1.67% during the six months ended June 30, 2025, up from 1.61% during the first half of 2024. Return on average equity decreased to 14.7% for the six months ended June 30, 2025, down from 16.7% during the first half of 2024.

    Net interest income increased by $860 thousand from $35.9 million during the six months ended June 30, 2024, to $36.7 million during the current period. The provision for credit losses decreased from $1.7 million during the first half of 2024 to $1.1 million during the current period.

    Non-interest income increased by $1.2 million from $4.3 million during the six months ended June 30, 2024 to $5.5 million during the first half of 2025 related primarily to a legal settlement totaling $1.1 million. This settlement related to the Dixie Fire which swept through the town of Greenville, California in August of 2021. The fire caused severe damage to the Greenville area, including the telecommunications infrastructure which adversely affected our ability to service our customers in this area during the last few years.

    Non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. Of this amount, $1.1 million relates to costs associated with our pending acquisition of Cornerstone Community Bancorp. Of the $1.1 million in merger related costs, $801 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes increased by $583 thousand from $4.6 million, or 26.2% of pre-tax income, during the six months ended June 30, 2024 to $5.2 million, or 27.8% of pre-tax income, during the current period.

    Balance Sheet Highlights
    June 30, 2025 compared to June 30, 2024

    • Gross loans increased by $21 million, or 2%, to $1.0 billion.
    • Total deposits increased by $62 million, or 5%, to $1.4 billion.
    • Borrowings decreased by $105 million, or 88% to $15 million.
    • Total equity increased by $28 million, or 17%, to $193 million.
    • Book value per share increased by $4.53, or 16%, to $32.54.

    President’s Comments

    Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, announced, “The third quarter of 2025 began with a major development for Plumas; we successfully completed our acquisitions of Cornerstone Community Bank and Bancorp, expanding our presence in California’s northern Sacramento Valley. We are thrilled to have Ken Robison, formerly a director at Cornerstone, join the boards of Plumas Bancorp and Bank. We also welcome Matt Moseley, former President and CEO of Cornerstone Community Bank, to the executive team as Market President. Their extensive leadership experience and market knowledge will be instrumental in the ongoing success of our combined organization.”

    Ryback continued, “Beyond the acquisition, we have also been focused on internal advancements. We are expanding our treasury management services to provide comprehensive, personalized banking solutions with enhanced security features. Simultaneously, we have gained efficiency in our lending process through on-going refinements to our lending platforms and department structures.”

    Ryback concluded, “We extend a warm welcome to the clients, employees, and shareholders of Cornerstone. We look forward to providing long-term value to our expanded shareholders, clients, team members, and communities.”

    Loans, Deposits, Investments and Cash

    Gross loans increased by $21 million, or 2%, from $997 million at June 30, 2024, to $1.0 billion at June 30, 2025. Increases in loans included $85 million in commercial real estate loans and $3 million in equity lines of credit; these items were partially offset by decreases of $29 million in automobile loans, $27 million in construction loans, $10 million in agricultural loans and $1 million in residential real estate loans.

    On   June 30, 2025, approximately 78% of the Company’s loan portfolio was comprised of variable rate loans. The rates of interest charged on variable rate loans are set at specific increments in relation to the Company’s lending rate or other indexes such as the published prime interest rate or U.S. Treasury rates and vary with changes in these indexes. The frequency at which variable rate loans reprice can vary from one day to several years. Most of our commercial real estate portfolio reprices every five years. Approximately 76% of the variable rate loans are indexed to the five year T-Bill rate and reprice every five years. Loans indexed to the prime interest rate were approximately 21% of the Company’s variable rate loan portfolio; these loans reprice within one day to three months of a change in the prime rate.

    Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. The increase in deposits includes increases of $67 million in money market accounts and $29 million in time deposits. Partially offsetting these increases were decreases of $2 million in demand deposits and $32 million in savings deposits. We attribute much of the increase in money market accounts to higher rate public entity deposits. At June 30, 2025, 49% of the Company’s deposits were in the form of non-interest-bearing demand deposits. The Company had no brokered deposits at June 30, 2025 and June 30, 2024.

    Total investment securities decreased by $5 million from $445 million at June 30, 2024, to $440 million at June 30, 2025. The Bank’s investment security portfolio consists of debt securities issued by US Government agencies, US Government sponsored agencies and municipalities. Cash and due from banks decreased by $31 million from $110 million at June 30, 2024, to $79 million at June 30, 2025.

    Asset Quality

    Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at June 30, 2025 were $13.7 million, up from $9.1 million at June 30, 2024. Nonperforming assets as a percentage of total assets increased to 0.84% at June 30, 2025 up from 0.56% at June 30, 2024. OREO decreased by $50 thousand from $141 thousand at June 30, 2024 to $91 thousand at June 30, 2025. Nonperforming loans were $13.6 million at June 30, 2025 and $9.0 million at June 30, 2024. Nonaccrual loans totaled $13.6 million at June 30, 2025 and $2.5 million at June 30, 2024. At June 30, 2025 there were no loans 90 days or more past due that were not on nonaccrual. The difference between the $2.5 million in nonaccrual loans at June 30, 2024 and the $9 million in nonperforming loans in 2024 were loans that were over 90 days past due, but not on nonaccrual. Nonperforming loans as a percentage of total loans increased to 1.34% at June 30, 2025, up from 0.90% at June 30, 2024. The increase in nonperforming loans is related to one agricultural loan relationship of 15 loans totaling $9.9 million. The borrower on these loans was unable to meet his commitments under modified loan agreements and therefore during the quarter we placed the loans on nonaccrual status. Interest reversed on these loans during the current quarter totaled $344 thousand and specific loan loss reserves totaling $931 thousand were applied against the loans.

    During the first half of 2025 we recorded a provision for credit losses of $1.1 million consisting of a provision for credit losses on loans of $1.1 million and a decrease in the reserve for unfunded commitments of $40 thousand. The $1.1 million mostly relates to the specific loan loss reserves noted in the previous paragraph. This compares to a provision for credit losses of $1.7 million consisting of a provision for credit losses on loans of $1.8 million and a decrease in the reserve for unfunded commitments of $79 thousand during the six months ended June 30, 2024.

    Net charge-offs totaled $137 thousand and $610 thousand during the six months ended June 30, 2025 and 2024, respectively. The allowance for credit losses totaled $14.2 million at June 30, 2025 and $14.1 million at June 30, 2024. The allowance for credit losses as a percentage of total loans was 1.39% and 1.41% at June 30, 2025 and 2024.

    The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the six months ended June 30, 2025 and 2024 (in thousands).

    Allowance for Credit Losses   June 30, 2025     June 30, 2024
    Balance, beginning of period $ 13,196     $ 12,867  
    Provision charged to operations   1,150       1,825  
    Losses charged to allowance   (506 )     (1,010 )
    Recoveries                                   369       400  
    Balance, end of period $     14,209     $     14,082  
    Reserve for Unfunded
    Commitments    		  

    June 30, 2025

    		    

    June 30, 2024
    Balance, beginning of period $                                620     $ 799  
    Provision charged to operations   (40 )     (79 )
    Balance, end of period $                                 580     $ 720  

    Shareholders’ Equity

    Total shareholders’ equity increased by $27.9 million from $165.2 million at June 30, 2024, to $193.1 million at June 30, 2025. The $27.9 million includes earnings during the twelve-month period totaling $29.1 million, a decrease in accumulated other comprehensive loss of $4.4 million and restricted stock and stock option activity totaling $1.1 million. These items were partially offset by the payment of cash dividends totaling $6.7 million.

    Bank Term Funding Program (BTFP)

    At June 30, 2024, the Company had outstanding borrowings under BTFP totaling $105 million. All BTFP borrowings were paid off during 2024. Interest expense recognized on the BTFP borrowings for the three and six-months ended June 30, 2024, was $1.3 million and $2.5 million, respectively.

    Liquidity

    The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers’ borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established credit lines.

    The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to $255 million from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $439 million. The Company is also eligible to borrow at the Federal Reserve Bank (FRB) Discount Window. At June 30, 2025, the Company could borrow up to $98 million at the Discount Window secured by investment securities with a fair value of $101 million. In addition to its FHLB borrowing line and the Discount Window, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $50 million and $20 million. There were no outstanding borrowings to the FHLB, FRB Discount Window or the correspondent banks at June 30, 2025 and 2024.

    Customer deposits are the Company’s primary source of funds. Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. Deposits are held in various forms with varying maturities. The Company estimates that it has approximately $516 million in uninsured deposits which include uninsured deposits of Plumas Bancorp. Of this amount, $206 million represents deposits that are collateralized such as deposits of states, municipalities and tribal accounts.

    The Company’s securities portfolio, Discount Window advances, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the FRB and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the near future.

    Net Interest Income and Net Interest Margin – Three Months Ended June 30, 2025

    Net interest income was $18.2 million for the three months ended June 30, 2025, a decrease of $222 thousand from the same period in 2024. The decrease in net interest income includes a decrease of $527 thousand in interest income partially offset by a decrease of $305 thousand in interest expense. Interest and fees on loans increased by $200 thousand related to growth in the loan portfolio partially offset by a decline in yield.

    Average loan balances increased by $39 million, while the average yield on these loans decreased by 18 basis points from 6.32% during the second quarter of 2024 to 6.14% during the current quarter. Of the 18 basis points decrease, 13 basis points relate to the reversal of $344 thousand in interest previously described under “Asset Quality” The average prime interest rate decreased from 8.5% during the second quarter of 2024 to 7.5% during the current quarter. Approximately 16% of the Company’s loans are tied to the prime interest rate and most of these reprice within one to three months with a change in prime. Additionally, during the second quarter of 2024 we recovered $316 thousand in interest on loans that were classified as nonaccrual and which were paid off in full during the quarter which elevated loan yield during the 2024 quarter. The effect of these items was partially offset by an increase in average yield on the bank’s fixed rate portfolio which includes growth in fixed rate SBA loans which totaled $75 million at June 30, 2025, and $62 million at June 30, 2024. The weighted average rate earned on this portfolio at June 30, 2025, was 8.3%. The Bank is also benefiting from the repricing of a portion of our Commercial Real Estate loans. Most of these loans are indexed to the 5-year Treasury note and reprice every five years.

    Interest on investment securities decreased by $30 thousand as yield on these securities decreased slightly from 4.11% during the 2024 quarter to 4.08% during the current quarter and average investment securities declined from $444 million during the three months ended June 30, 2024 to $442 million during the current quarter.

    Interest on cash balances decreased by $697 thousand related to a decline in average balance of $42 million and a decrease in average rate paid on cash balances of 104 basis points from 5.51% during the second quarter of 2024 to 4.47% during the current quarter. This decline in yield was mostly related to a decline in rate paid on balances held at the FRB. The average rate earned on FRB balances decreased from 5.40% during the second quarter of 2024 to 4.40% during the current quarter.

    Interest expense decreased by $305 thousand, related to the repayment of the BTFP borrowings as discussed earlier. The average rate paid on interest bearing liabilities decreased from 1.44% during the 2024 quarter to 1.33% in 2025 related to the decrease in these borrowings.

    Interest paid on deposits increased by $968 thousand and is broken down by product type as follows: money market accounts – $815 thousand, savings deposits – $83 thousand and time deposits $70 thousand. The increase in interest paid on money market accounts mostly relates to an increase in public entity balances and the rate earned on these balances. During the second half of 2024 and continuing into 2025, we have offered a premium money market rate on large balances of public entities in our service area, matching the rate they could earn from the California local agency investment fund. This has led to the significant increase in balances and rate paid on money market accounts. The average balance of money market accounts during the current quarter was $288 million, an increase of $72 million from $216 million during the three months ended June 30, 2024. The average rate paid on money market accounts increased 92 basis points to 1.79%. The increase in interest on savings accounts was driven by an increase in the average rate paid of 12 basis points to 34 basis points. The increase in interest on time deposits includes an increase in average balance of $23 million partially offset by a decline in average rate paid of 33 basis points to 2.53% as promotional time deposits issued in 2024 matured. Many of these promotional time deposits were renewed at lower rates. The average rate paid on interest-bearing deposits increased from 0.84% during the second quarter of 2024 to 1.30% during the current quarter. The average balance of interest-bearing deposits increased from $633 million during the three months ended June 30, 2024 to $705 million during the quarter.

    Net interest margin for the three months ended June 30, 2025 decreased 6 basis points to 4.83%, down from 4.89% for the same period in 2024. Excluding the $344 thousand in interest reversed described earlier, net interest margin for the three months ended June 30, 2025 would have been 4.93%.

    Net Interest Income and Net Interest Margin – Six Months Ended June 30, 2025

    Net interest income for the six months ended June 30, 2025 was $36.7 million, an increase of $860 thousand from the $35.9 million earned during the same period in 2024. The increase in net interest income includes an increase of $36 thousand in interest income and a reduction in interest expense of $824 thousand.

    Interest and fees on loans increased by $1.0 million related to an increase in average balance partially offset by a decline in yield. The average balance of loans during the six months ended June 30, 2025 was $1.0 billion, an increase of $44 million from $972 million during the same period in 2024. The average yield on loans decreased by 6 basis points from 6.21% during the first six months of 2024 to 6.15% during the current period.

    Interest on investment securities increased by $84 thousand related to an increase in yield of 21 basis points to 4.10% partially offset by a decline in average balance. The increase in investment yields is consistent with the increase in market rates and the restructuring of the investment portfolio in February of 2024. Average investment securities declined from $462 million during the six months ended June 30, 2024 to $443 million during the current period.

    Interest on cash balances declined by $1.1 million related to both a decline in balance and a decline in yield. The rate earned on cash balances declined by 104 basis points to 4.5% and the average balance declined from $81.8 million during the first six months of 2024 to $53.8 million during the current period.

    Related to a $2.5 million decline in interest on BTFP borrowings partially offset by an increase in interest bearing deposits and an increase in the cost of these deposits, interest expense decreased from $5.3 million during the six months ended June 30, 2024 to $4.5 million during the current period. The average rate paid on interest bearing liabilities decreased from 1.39% during the 2024 period to 1.24% in 2025.

    Interest paid on deposits increased by $1.7 million and is broken down by product type as follows: money market accounts – $1.6 million and savings deposits – $109 thousand. The average rate paid on interest-bearing deposits increased from 0.79% during the six months ended June 30, 2024 to 1.21% during the current period. Average interest-bearing deposits totaled $698 million during the first half of 2025 an increase of $62 million from $636 million during the first half of 2024.

    Net interest margin for the six months ended June 30, 2025 increased 13 basis points to 4.89%, up from 4.76% for the same period in 2024.

    Non-Interest Income/Expense – Three Months Ended June 30, 2025

    Non-interest income increased by $159 thousand to $2.4 million during the current quarter. The largest increase was related to a $184 thousand adjustment to the value of our stock holdings in one of our correspondent banks.

    During the three months ended June 30, 2025, total non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. The largest components of this increase were merger related expenses of $481 thousand and salary and benefit expense of $270 thousand. The increase in salary and benefit expense includes an increase in salary expense of $216 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $144 thousand was offset by a decline in commission expense of $180 thousand. Both items mostly relate to a decline in SBA loan production during the comparison quarters.

    Non-Interest Income/Expense – Six Months Ended June 30, 2025

    During the six months ended June 30, 2025, non-interest income totaled $5.6 million, an increase of $1.2 million from the six months ended June 30, 2024. The largest component of this increase was a legal settlement totaling $1.1 million related to the Dixie Fire in August of 2021.

    During the six months ended June 30, 2025, total non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. The largest components of this increase were merger related expenses of $1.1 million, salary and benefit expenses of $784 thousand and occupancy and equipment expenses of $425 thousand. The increase in salary and benefit expense included an increase in salary expense of $484 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $257 thousand was offset by a decline in commission expense of $317 thousand. Both items mostly relate to a decline in SBA loan production during the comparison periods. The increase in occupancy and equipment expense mostly relates to an increase in rent expense of $374 thousand related to the February 2024 sales/leaseback transaction. Partially offsetting these increases in expense were several reductions in non-interest expense the largest of which was a reduction in professional fees of $320 thousand. Included in professional fees during the six months ended June 30, 2024 were legal expenses totaling $188 thousand related to a litigation matter that was settled in the second half of 2024.

    Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates nineteen branches: seventeen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sutter and Tehama and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.

    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

    Contact: Jamie Huynh
    Investor Relations
    Plumas Bancorp
    5525 Kietzke Lane Ste. 100
    Reno, NV 89511
    775.786.0907 x8908
    investorrelations@plumasbank.com

    PLUMAS BANCORP
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      As of June 30,        
      2025   2024   Dollar
    Change    		   Percentage
    Change
    ASSETS              
    Cash and due from banks $ 79,266   $ 109,852   $ (30,586)   (27.8)%
    Investment securities 439,676   445,132   (5,456)   (1.2)%
    Loans, net of allowance for credit losses 1,006,873   986,517   20,356   2.1%
    Premises and equipment, net 12,065   12,868   (803)   (6.2)%
    Right-of-use assets 23,912   24,975   (1,063)   (4.3)%
    Bank owned life insurance 16,736   16,310   426   2.6%
    Real estate acquired through foreclosure 91   141   (50)   (35.5)%
    Goodwill 5,502   5,502   –   0.0%
    Accrued interest receivable and other assets 44,396   40,800   3,596   8.8%
    Total assets $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
    LIABILITIES AND              
       SHAREHOLDERS’ EQUITY  
    Deposits $ 1,366,827   $ 1,304,587   $ 62,240   4.8%
    Accrued interest payable and other liabilities 53,611   52,355   1,256   2.4%
    Borrowings 15,000   120,000   (105,000)   (87.5)%
    Total liabilities 1,435,438   1,476,942   (41,504)   (2.8)%
    Common stock 29,803   28,656   1,147   4.0%
    Retained earnings 183,954   161,608   22,346   13.8%
    Accumulated other comprehensive loss, net (20,678)   (25,109)   4,431   17.6%
    Shareholders’ equity 193,079   165,155   27,924   16.9%
    Total liabilities and shareholders’ equity $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
                   
    FOR THE THREE MONTHS ENDED JUNE 30, 2025   2024   Dollar
    Change    		   Percentage
    Change
                   
    Interest income $ 20,633   $ 21,160   $ (527)   (2.5)%
    Interest expense 2,450   2,755   (305)   (11.1)%
    Net interest income before provision for credit losses 18,183   18,405   (222)   (1.2)%
    Provision for credit losses 860   925   (65)   (7.0)%
    Net interest income after provision for credit losses 17,323   17,480   (157)   (0.9)%
    Non-interest income 2,361   2,202   159   7.2%
    Non-interest expense 11,012   10,396   616   5.9%
    Income before income taxes 8,672   9,286   (614)   (6.6)%
    Provision for income taxes 2,351   2,500   (149)   (6.0)%
    Net income $ 6,321   $ 6,786   $ (465)   (6.9)%
                   
    Basic earnings per share $ 1.07   $ 1.15   $ (0.08)   (7.0)%
    Diluted earnings per share $ 1.05   $ 1.14   $ (0.09)   (7.9)%
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
              Dollar   Percentage
    FOR THE SIX MONTHS ENDED JUNE 30, 2025   2024   Change   Change
                   
    Interest income $ 41,223   $ 41,187   $ 36   0.1%
    Interest expense 4,501   5,325   (824)   (15.5)%
    Net interest income before provision for credit losses 36,722   35,862   860   2.4%
    Provision for credit losses 1,110   1,746   (636)   (36.4)%
    Net interest income after provision for credit losses 35,612   34,116   1,496   4.4%
    Non-interest income 5,574   4,342   1,232   28.4%
    Non-interest expense 22,477   20,793   1,684   8.1%
    Income before income taxes 18,709   17,665   1,044   5.9%
    Provision for income taxes 5,208   4,625   583   12.6%
    Net income $ 13,501   $ 13,040   $ 461   3.5%
                   
    Basic earnings per share $ 2.28   $ 2.21   $ 0.07   3.2%
    Diluted earnings per share $ 2.25   $ 2.19   $ 0.06   2.7%
             
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands, except per share data)
    (Unaudited)
                       
      Three Months Ended   Six Months Ended
      6/30/2025   3/31/2025   6/30/2024   6/30/2025   6/30/2024
    EARNINGS PER SHARE                  
    Basic earnings per share $ 1.07     $ 1.21     $ 1.15     $ 2.28     $ 2.21  
    Diluted earnings per share $ 1.05     $ 1.20     $ 1.14     $ 2.25     $ 2.19  
    Weighted average shares outstanding   5,929       5,911       5,896       5,920       5,892  
    Weighted average diluted shares outstanding   6,006       6,002       5,946       6,006       5,946  
    Cash dividends paid per share 1 $ 0.30     $ 0.30     $ 0.27     $ 0.60     $ 0.54  
                       
    PERFORMANCE RATIOS (annualized for the three months)            
    Return on average assets   1.56 %   1.79 %   1.67 %   1.67 %     1.61 %
    Return on average equity   13.4 %   16.0 %   17.1 %   14.7 %     16.7 %
    Yield on earning assets   5.48 %   5.50 %   5.62 %   5.49 %     5.46 %
    Rate paid on interest-bearing liabilities   1.33 %   1.14 %   1.44 %   1.24 %     1.39 %
    Net interest margin   4.83 %   4.95 %   4.89 %   4.89 %     4.76 %
    Noninterest income to average assets   0.58 %   0.80 %   0.54 %   0.69 %     0.54 %
    Noninterest expense to average assets   2.72 %   2.85 %   2.56 %   2.79 %     2.57 %
    Efficiency ratio 2   53.6 %   52.7 %   50.4 %   53.1 %     51.7 %
                       
      6/30/2025   3/31/2025   6/30/2024   12/31/2024   12/31/2023
    CREDIT QUALITY RATIOS AND DATA                  
    Allowance for credit losses $ 14,209     $ 13,319     $ 14,082     $ 13,196     $ 12,867  
    Allowance for credit losses as a percentage of total loans   1.39 %     1.32 %     1.41 %     1.30 %     1.34 %
    Nonperforming loans $ 13,652     $ 3,686     $ 8,974     $ 4,105     $ 4,820  
    Nonperforming assets $ 13,747     $ 3,787     $ 9,148     $ 4,307     $ 5,315  
    Nonperforming loans as a percentage of total loans   1.34 %     0.36 %     0.90 %     0.40 %     0.50 %
    Nonperforming assets as a percentage of total assets   0.84 %     0.23 %     0.56 %     0.27 %     0.33 %
    Year-to-date net charge-offs $ 137     $ 127     $ 610     $ 1,046     $ 954  
    Year-to-date net charge-offs as a percentage of average   0.03 %     0.05 %     0.13 %   0.11 %     0.10 %
    loans (annualized)      
                       
    CAPITAL AND OTHER DATA                  
    Common shares outstanding at end of period   5,934       5,922       5,896       5,903       5,872  
    Shareholders’ equity $ 193,079     $ 187,603     $ 165,155     $ 177,899     $ 147,317  
    Book value per common share $ 32.54     $ 31.68     $ 28.01     $ 30.14     $ 25.09  
    Tangible common equity3 $ 186,874     $ 181,354     $ 158,763     $ 171,606     $ 140,823  
    Tangible book value per common share4 $ 31.49     $ 30.62     $ 26.93     $ 29.07     $ 23.98  
    Tangible common equity to total assets   11.5 %     11.1 %     9.7 %     10.6 %     8.7 %
    Gross loans to deposits   74.7 %     73.6 %     76.4 %     74.1 %     71.9 %
                       
    PLUMAS BANK REGULATORY CAPITAL RATIOS              
    Tier 1 Leverage Ratio   12.7 %     12.3 %     11.3 %     11.9 %     10.8 %
    Common Equity Tier 1 Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Tier 1 Risk-Based Capital Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Total Risk-Based Capital Ratio   19.2 %     19.0 %     17.6 %     18.5 %     16.9 %
    (1) The Company paid a quarterly cash dividend of $0.30 per share on February 17, 2025, May 15, 2025 and a quarterly cash dividend of $0.27 per share on February 15, 2024, May 15, 2024, August 15, 2024 and November 15, 2024 and a quarterly cash dividend of $0.25 per share on February 15, 2023, May 15, 2023 , August 15, 2023 and November 15, 2023.
    (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).   
    (3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill.      
    (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding.    
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Three Months Ended   For the Three Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,020,004   $ 15,612   6.14 %   $ 980,723   $ 15,412   6.32 %
    Investment securities     369,624     3,913   4.25 %     367,841     3,932   4.30 %
    Non-taxable investment securities (1)     72,719     591   3.26 %     76,275     602   3.17 %
    Interest-bearing deposits     46,368     517   4.47 %     88,607     1,214   5.51 %
    Total interest-earning assets     1,508,715     20,633   5.48 %     1,513,446     21,160   5.62 %
    Cash and due from banks     26,880             26,859        
    Other assets     87,117             90,092        
    Total assets   $ 1,622,712           $ 1,630,397        
                             
    Interest-bearing liabilities:                        
    Money market deposits     287,707     1,283   1.79 %     215,614     468   0.87 %
    Savings deposits     298,989     257   0.34 %     322,919     174   0.22 %
    Time deposits     118,057     744   2.53 %     94,684     674   2.86 %
    Total deposits     704,753     2,284   1.30 %     633,217     1,316   0.84 %
    Borrowings     15,000     146   3.90 %     120,000     1,431   4.80 %
    Other interest-bearing liabilities     17,265     20   0.46 %     16,809     8   0.19 %
    Total interest-bearing liabilities     737,018     2,450   1.33 %     770,026     2,755   1.44 %
    Non-interest-bearing deposits     659,554             663,094        
    Other liabilities     37,112             37,794        
    Shareholders’ equity     189,028             159,483        
    Total liabilities & equity   $ 1,622,712           $ 1,630,397        
    Cost of funding interest-earning assets (4)           0.65 %           0.73 %
    Net interest income and margin (5)       $ 18,183   4.83 %       $ 18,405   4.89 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $4.1 million for 2025 and $4.2 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the three-month periods ended June 30, 2025 and 2024 were $196 thousand and $338 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the six-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Six Months Ended   For the Six Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,016,008   $ 31,008   6.15 %   $ 972,427   $ 30,005   6.21 %
    Investment securities     369,376     7,840   4.28 %     369,815     7,537   4.10 %
    Non-taxable investment securities (1)     73,795     1,174   3.21 %     92,225     1,393   3.04 %
    Interest-bearing deposits     53,845     1,201   4.50 %     81,807     2,252   5.54 %
    Total interest-earning assets     1,513,024     41,223   5.49 %     1,516,274     41,187   5.46 %
    Cash and due from banks     26,679             26,722        
    Other assets     86,732             85,300        
    Total assets   $ 1,626,435           $ 1,628,296        
                             
    Interest-bearing liabilities:                        
    Money market deposits     283,469     2,429   1.73 %     213,399     844   0.80 %
    Savings deposits     311,151     463   0.30 %     329,242     354   0.22 %
    Time deposits     103,304     1,288   2.51 %     93,092     1,304   2.82 %
    Total deposits     697,924     4,180   1.21 %     635,733     2,502   0.79 %
    Borrowings     15,000     290   3.90 %     117,170     2,798   4.80 %
    Other interest-bearing liabilities     19,216     31   0.33 %     19,260     25   0.26 %
    Total interest-bearing liabilities     732,140     4,501   1.24 %     772,163     5,325   1.39 %
    Non-interest-bearing deposits     670,961             668,441        
    Other liabilities     37,602             31,118        
    Shareholders’ equity     185,732             156,574        
    Total liabilities & equity   $ 1,626,435           $ 1,628,296        
    Cost of funding interest-earning assets (4)           0.60 %           0.70 %
    Net interest income and margin (5)       $ 36,722   4.89 %       $ 35,862   4.76 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $3.9 million for 2025 and $4.8 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the six-month periods ended June 30, 2025 and 2024 were $471 thousand and $682 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Interchange income $ 784   $ 782     2     0.3 %
    Service charges on deposit accounts   781     743     38     5.1 %
    Loan servicing fees   148     186     (38 )   (20.4 )%
    FHLB Dividends   135     136     (1 )   (0.7 )%
    Earnings on life insurance policies   108     104     4     3.8 %
    Other   405     251     154     61.4 %
    Total non-interest income $ 2,361   $ 2,202   $ 159     7.2 %
                   
    The following table presents the components of non-interest expense for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 5,553   $ 5,283   $ 270     5.1 %
    Occupancy and equipment   2,050     1,949     101     5.2 %
    Outside service fees   1,160     1,184     (24 )   (2.0 )%
    Merger and acquisition expenses   481     –     481     100.0 %
    Advertising and shareholder relations   273     214     59     27.6 %
    Armored car and courier   224     220     4     1.8 %
    Professional fees   219     329     (110 )   (33.4 )%
    Business development   188     210     (22 )   (10.5 )%
    Deposit insurance   180     185     (5 )   (2.7 )%
    Director compensation and expense   155     199     (44 )   (22.1 )%
    Telephone and data communication   124     204     (80 )   (39.2 )%
    Loan collection expenses   51     117     (66 )   (56.4 )%
    Amortization of Core Deposit Intangible   44     51     (7 )   (13.7 )%
    Other   310     251     59     23.5 %
    Total non-interest expense $ 11,012   $ 10,396   $ 616     5.9 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Service charges on deposit accounts $ 1,486   $ 1,458     $ 28     1.9 %
    Interchange income   1,474     1,522       (48 )   (3.2 )%
    Loan servicing fees   334     388       (54 )   (13.9 )%
    FHLB Dividends   272     273       (1 )   (0.4 )%
    Earnings on life insurance policies   217     200       17     8.5 %
    Gain (loss) on sale of investment securities   3     (19,826 )     19,829     (100.0 )%
    Gain on sale of buildings   –     19,854       (19,854 )   (100.0 )%
    Other   1,788     473       1,315     278.0 %
    Total non-interest income $ 5,574   $ 4,342     $ 1,232     28.4 %
                   
    The following table presents the components of non-interest expense for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 11,433   $ 10,649     $ 784     7.4 %
    Occupancy and equipment   4,064     3,639       425     11.7 %
    Outside service fees   2,424     2,316       108     4.7 %
    Merger and acquisition expenses   1,050     –       1,050     100.0 %
    Advertising and shareholder relations   535     458       77     16.8 %
    Professional fees   448     768       (320 )   (41.7 )%
    Armored car and courier   441     422       19     4.5 %
    Deposit insurance   362     372       (10 )   (2.7 )%
    Business development   355     363       (8 )   (2.2 )%
    Director compensation and expense   321     366       (45 )   (12.3 )%
    Telephone and data communication   298     426       (128 )   (30.0 )%
    Loan collection expenses   122     221       (99 )   (44.8 )%
    Amortization of Core Deposit Intangible   87     102       (15 )   (14.7 )%
    Other   537     691       (154 )   (22.3 )%
    Total non-interest expense $ 22,477   $ 20,793     $ 1,684     8.1 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                     
    The following table shows the distribution of loans by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Commercial   $ 81,118   8.0 %   $ 81,170   8.1 %
    Agricultural     113,850   11.2 %     123,661   12.4 %
    Real estate – residential     11,053   1.1 %     11,755   1.2 %
    Real estate – commercial     673,129   66.1 %     588,332   59.0 %
    Real estate – construction & land     40,798   4.0 %     67,960   6.8 %
    Equity Lines of Credit     41,620   4.1 %     38,446   3.9 %
    Auto     51,487   5.1 %     80,751   8.1 %
    Other     4,791   0.4 %     5,259   0.5 %
    Total Gross Loans   $ 1,017,846   100 %   $ 997,334   100 %
                     
    The following table shows the distribution of Commercial Real Estate loans at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Owner occupied   $ 294,765   43.8 %   $ 240,346   40.9 %
    Investor     378,364   56.2 %     347,986   59.1 %
    Total real estate – commercial   $ 673,129   100 %   $ 588,332   100 %
                     
                     
    The following table shows the distribution of deposits by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Deposits in Each     Deposits in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Deposits   of Period   Total Deposits
        6/30/25   6/30/25   6/30/24   6/30/24
    Non-interest bearing   $ 668,086   48.9 %   $ 670,652   51.4 %
    Money Market     281,516   20.6 %     214,063   16.4 %
    Savings     290,440   21.2 %     322,081   24.7 %
    Time     126,785   9.3 %     97,791   7.5 %
    Total Deposits   $ 1,366,827   100 %   $ 1,304,587   100 %
                     

    The MIL Network –

    July 17, 2025

  • MIL-OSI Asia-Pac: Legislative amendments on mandatory installation of Journey Recording Systems and provision of electronic payment means on taxis to be gazetted on Friday

    Source: Hong Kong Government special administrative region

    The Government will gazette the Road Traffic (Construction and Maintenance of Vehicles) (Amendment) Regulation 2025 and the Road Traffic (Public Service Vehicles) (Amendment) Regulation 2025 this Friday (July 18). The Amendment Regulations seek to mandate the installation of Journey Recording Systems (JRS) on all taxis and require all taxi drivers to allow taxi fares to be paid by electronic payment means (e-payment means), with a view to enhancing the overall taxi service quality with technology and meeting public’s demand. 

    A spokesperson for the Transport and Logistics Bureau said, “The JRS should be capable of making video recordings with audio inside a taxi compartment (in-vehicle recordings) as well as making video recordings of the clear front and rear views outside the taxi. It should also capture data concerning the location of the taxi via a global navigation satellite system and be properly sealed and examined. We believe that these functions will help deter taxi drivers’ malpractices, enhance driving safety of taxis and safeguard the interest of drivers and passengers in the event of disputes.”

    To assist the trade in preparing for the new requirements relating to the JRS, the Transport Department (TD) will inform the trade of the relevant requirements through various channels, such as the TD’s website, the regular publication of the Taxi Newsletter, publicity leaflets and regular meetings with the taxi trade, in the second half of this year. The TD will also carry out works relating to the authorisation of suppliers starting from the fourth quarter of this year, so that the trade may start installing the JRSs inside taxi compartments in 2026. Upon completion of such installation on all taxis, the JRSs will be ready to come into operation and will have to be connected to the centralised Information System of the TD.

    To protect the privacy of passengers and drivers, the recordings and data captured by the JRS should be encrypted. Only under specified purpose(s) (e.g. investigating any conduct that may constitute a traffic-related contravention under any law of Hong Kong), law enforcement agencies, the Commissioner for Transport and authorised persons can retrieve or access the in-vehicle recordings.  

    “In addition, since many taxis now still accept cash only which has caused great inconvenience to passengers (especially tourists), our Amendment Regulation will require all taxi drivers to allow fares to be paid by e-payment means. To help drivers to prepare for the new requirement before it comes into effect, the TD will actively co-ordinate with various e-payment platforms in arranging workshops or briefings to assist drivers in learning how to collect fares through e-payment means. This requirement will come into operation on April 1, 2026,” the spokesperson added.

    The Legislative Council (LegCo) Panel on Transport and the Transport Advisory Committee were briefed respectively on the proposals in December 2024 and Members were supportive of the proposals. The Amendment Regulations will be tabled at the LegCo on July 23, 2025 for negative vetting.

    Details of the proposals and the commencement of the provisions relating to the JRS and e-payment means are set out in the LegCo brief issued by the Government today (July 16).

    MIL OSI Asia Pacific News –

    July 17, 2025

  • MIL-OSI: Gilat Awarded More Than $7 Million to Provide the U.S. Army With Services in Support of Mission-Critical Communications

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, July 16, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that Gilat DataPath (DataPath Inc.) a wholly owned subsidiary of Gilat Defense, has been awarded a contract to provide field and technical services in support of the U.S. Army through a prime contractor. The award includes a base program of more than $7 million with options to extend the program up to five years, reaching an estimated revenue of up to $70 million.

    Under the awarded program, Gilat DataPath will deliver global field and support services to the U.S. Army Program Executive Office for Command, Control and Communications Networks (PEO C3N). The program award results from a competitive process under the Global Tactical Advanced Communication Systems II (GTACS II) vehicle.

    “In the domain of delivering innovative satellite communications services to modernize defense capabilities, Gilat DataPath is a world leader,” said Nicole Robinson, President of Gilat DataPath. “This large multi-year award further underscores the dynamic capabilities and critical nature of what Gilat DataPath can deliver to such a unique and trusted end user.”

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we develop and deliver deep technology solutions for satellite, ground, and new space connectivity, offering next-generation solutions and services for critical connectivity across commercial and defense applications. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Together with our wholly owned subsidiaries—Gilat Wavestream, Gilat DataPath, and Gilat Stellar Blu—we offer integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) via our Commercial and Defense Divisions. Our comprehensive portfolio is comprised of a cloud-based platform and modems; high-performance satellite terminals; advanced Satellite On-the-Move (SOTM) antennas and ESAs; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense markets, field services, network management software, and cybersecurity services.

    Gilat’s products and tailored solutions support multiple applications including government and defense, IFC and mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to Israel’s preemptive strike against Iran’s nuclear project and the continued hostilities between Israel and Iran, and the hostilities between Israel and Hamas. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

    Contact:

    Gilat Satellite Networks

    Hagay Katz, Chief Product and Marketing Officer

    hagayk@gilat.com

    Alliance Advisors:

    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    The MIL Network –

    July 16, 2025

  • MIL-OSI Europe: Written question – Concerns regarding potential binding electric vehicle mandates for corporate fleets and the impact on EU competitiveness – E-002744/2025

    Source: European Parliament

    Question for written answer  E-002744/2025
    to the Commission
    Rule 144
    Zala Tomašič (PPE)

    On 5 March 2025, the Commission published a communication on decarbonising corporate fleets, with a legislative proposal expected by year-end. There are indications that the Commission is considering binding electric vehicle (EV) purchase mandates for EU corporate fleets. Such mandates could significantly affect fleet operators and customers across vehicle segments – passenger cars, vans, heavy-duty vehicles, buses and coaches – and have major implications for the competitiveness of Europe’s vehicle manufacturers and suppliers.

    In light of this:

    • 1.Will the Commission ensure – through a full impact assessment, Regulatory Scrutiny Board review, and SME and competitiveness checks – that the principles of proportionality, subsidiarity, and Better Regulation are upheld in this proposal – while also clarifying how technological neutrality will be maintained, particularly regarding the role of plug-in hybrid vehicles and whether they will count towards compliance?
    • 2.Will the Commission impose binding EV quotas despite concerns over flexibility, infrastructure gaps and operational viability, and how does it intend to define ‘corporate fleets’ – including whether businesses whose operations depend on vehicles (e.g. logistics) will be covered – while also addressing the associated risks of EV devaluation and declining resale values?
    • 3.What measures will be taken to assess and mitigate the impact of any purchase mandates on the competitiveness of the European automotive industry and its supply chain?

    Supporters[1]

    Submitted: 2.7.2025

    • [1] This question is supported by Members other than the author: Ondřej Krutílek (ECR), Paulius Saudargas (PPE), Christine Singer (Renew), Sophia Kircher (PPE), Angelika Niebler (PPE), Matej Tonin (PPE), Alexandra Mehnert (PPE), Jens Gieseke (PPE)
    Last updated: 16 July 2025

    MIL OSI Europe News –

    July 16, 2025

  • MIL-OSI Europe: Written question – Registration and ownership fees for combustion-engine cars as set out in the milestones of Poland’s national recovery plan – E-002626/2025

    Source: European Parliament

    Question for written answer  E-002626/2025/rev.1
    to the Commission
    Rule 144
    Anna Bryłka (PfE)

    The milestones laid out in the Annex to the Proposal for a Council Implementing Decision amending Implementing Decision (EU) (ST 9728/22 INIT; ST/9728/22 ADD 1) of 17 June 2022 on the approval of the assessment of the recovery and resilience plan for Poland introduce an obligation to pay a registration fee and ownership tax for emissions-related vehicles, in line with the ‘polluter pays’ principle.

    Considering the above, can the Commission clarify:

    • 1.How will Poland fulfil milestone E3G concerning the entry into force of a legal act introducing a registration fee for emissions-related vehicles in line with the ‘polluter pays principle’ when this enters into force in Poland?
    • 2.How will Poland fulfil milestone E4G concerning the entry into force of a legal act introducing an ownership tax on emissions-related vehicles in line with the ‘polluter pays principle’ when this enters into force in Poland?
    • 3.Has Poland negotiated the removal of milestones E3G and E4G with the Commission?

    Submitted: 30.6.2025

    Last updated: 16 July 2025

    MIL OSI Europe News –

    July 16, 2025

  • MIL-OSI Europe: Written question – Chinese carmakers bypassing import duties – E-002770/2025

    Source: European Parliament

    Question for written answer  E-002770/2025
    to the Commission
    Rule 144
    Barbara Bonte (PfE)

    Chinese carmakers have been boosting their sales figures for years by exporting new cars as used cars. That way, they pay lower import duties. The Chinese Government is aware of these practices and encourages such trade.

    According to the China Passenger Car Association, China exported a total of 6.41 million vehicles last year. According to estimates by Wang Meng, a consultant at the China Automobile Dealers Association, about 6 % of these are new vehicles sold as used cars.

    • 1.Is the Commission aware of these practices?
    • 2.What concrete measures is the Commission taking to stop this form of cheap dumping?
    • 3.What is the total amount of import duties not collected as a result of this practice?

    Submitted: 8.7.2025

    Last updated: 16 July 2025

    MIL OSI Europe News –

    July 16, 2025

  • MIL-OSI Asia-Pac: LCQ1: Managing passenger flows at land boundary control points

    Source: Hong Kong Government special administrative region – 4

    Following is a question by Dr the Hon Dennis Lam and a reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (July 16):

    Question:

    It has been reported that the number of Mainland visitors to Hong Kong in April this year grew by 13 per cent year-on-year. In response to my question in January last year, the Government indicated that it would maintain close liaison with Mainland authorities regarding the extension of operating hours at boundary control points (BCPs) during major festive periods. Subsequently, the Government also indicated that it would further review whether immigration clearance hours at certain BCPs on weekdays would be extended. On managing passenger flow at land BCPs, will the Government inform this Council:

    (1) given that several large-scale concerts have been held on the same day in recent months, resulting in large crowds of visitors crossing the border via the Lok Ma Chau Control Point after the events, with the flow of people continuing into the early hours, whether the Government will consider extending immigration clearance hours at the Lo Wu Control Point until 2am the following day on days when large-scale concerts take place, and correspondingly extending the service hours of the MTR East Rail Line, so as to enhance the travel experience for visitors coming to Hong Kong to attend concerts;

    (2) whether it will expeditiously discuss with Mainland authorities the extension of immigration clearance hours at the Heung Yuen Wai Control Point and the Lok Ma Chau Spur Line Control Point; and

    (3) given that the passenger flow at the Heung Yuen Wai Control Point has exceeded its design capacity by more than double on both weekdays and holidays, whether the Government has considered introducing long-term measures to manage passenger flow, such as installing additional Automated Immigration Clearance (e-Channel) services, so as to increase their number to a level comparable with that of the Mainland counterpart?

    Reply:

    President,

    With the increasing cross-boundary passenger flow between Guangdong and Hong Kong, exchanges at the community level have also intensified. In addition to the popularity of travelling to the Mainland during weekends or long holidays among Hong Kong residents, we are also pleased to observe a sustained increase in the number of Mainland visitors to Hong Kong. In the first half of this year, of the around 23.6 million inbound passenger trips to Hong Kong, Mainland visitors accounted for over 70 per cent, that is around 17.8 million, representing a year-on-year increase of 10 per cent. Many of these visitors came to Hong Kong to attend international entertainment and sports events. In view of the growing demand for clearance services, the Hong Kong Special Administrative Region Government has been closely monitoring the operation of the boundary control points (BCPs) and proactively enhancing the clearance capacity to facilitate the two-way flow of people between Hong Kong and the Mainland.   

    In consultation with the Transport and Logistics Bureau and the Culture, Sports and Tourism Bureau, a reply to the questions raised by Dr the Hon Dennis Lam is as follows:

    (1) and (2) To enhance the experience of both residents and visitors attending large-scale concerts, relevant Government departments and organisations will discuss the detailed arrangements for each large-scale concert, including assessment and deployment of manpower resources, formulation and implementation of plans for crowd control, information dissemination, traffic diversion and control point arrangements etc based on factors such as the number of attendees, nature, ending time and ticketing situations of the concerts.

    Drawing on past operational experiences, relevant departments will make advance planning for large-scale concerts, including pre-assessing the cross-boundary passenger traffic and making corresponding arrangements with a view to effectively managing the passengers departing through land BCPs following large-scale concerts. For example, the Immigration Department (ImmD) will deploy manpower as appropriate to strengthen services based on the estimated passenger traffic. The Transport Department (TD) will co-ordinate in advance with the MTR Corporation, as well as local and cross-boundary public transport operators, to increase service frequency based on the projected passenger flow. Additionally, co-ordination will be undertaken with concert organisers to disseminate cross-boundary traffic information in advance via social media platforms, as well as inside the venues on the day of the concerts. Relevant departments will also monitor the real-time situations at various BCPs, make flexible deployment of manpower to operate additional clearance counters and channels, and maintain close liaison with relevant Mainland port authorities through the established port hotlines and real-time notification mechanism to ensure smooth operation of the BCPs.

    Following the end of large-scale evening concerts, cross-boundary passengers may undergo immigration clearance via the Lo Wu Control Point, Shenzhen Bay Port, Lok Ma Chau/Huanggang (LMC/HG) Port and Hong Kong-Zhuhai-Macao Bridge (HZMB) Hong Kong Port. For the LMC/HG Port, it is observed that most cross-boundary passengers begin arriving approximately 45 minutes after the end of large-scale concerts, with the northbound passenger flow generally dispersed within 1.5 hours. According to recent observations, although cross-boundary passenger flow at relevant BCPs has increased following large-scale concerts, operations have remained largely smooth and in order. Overall speaking, the existing services at the BCPs are able to meet with the passenger demand.

    The extension of operating hours of clearance services involves the operation of the ports on both Mainland and Hong Kong sides, and careful consideration has to be given to a host of factors, including the actual needs, effective utilisation of resources of both places, manpower arrangements and ancillary transport services. On the basis of the 24-hour passenger clearance services currently provided at the LMC/HG Port and the HZMB Hong Kong Port, we will continue to closely monitor the demand for passenger clearance services and, having regard to actual needs, liaise with the relevant Mainland authorities on extending the operating hours of the passenger clearance services at respective BCPs when necessary.

    (3) As the first control point adopting the design of “direct access to people and vehicles”, the Heung Yuen Wai (HYW) BCP has been well received by the public since the commissioning of passenger clearance services in February 2023. As at June this year, the daily average cross-boundary passenger traffic at the HYW BCP was about 78 000 passenger trips, and during weekends and holidays, the daily average exceeded 91 000 passenger trips, which was three times of its design flow.

    Relevant departments have been taking various measures, including flexible deployment of manpower, optimisation of workflow and effective use of information technology, to enhance the handling capacity and efficiency of the HYW BCP. In June last year, the ImmD converted some of the traditional counters in the passenger arrival hall of the HYW BCP, thereby increasing the number of e-Channels from 14 to 18 and expanding the number of traditional counters from 9 to 12.

    In response to the continued growth in passenger traffic, the ImmD is now carrying out enhancement works at the passenger departure hall of the HYW BCP. Upon completion, the number of e-Channels will be increased from 14 to 18. During the construction period, four temporary counters have been set up in the passenger departure hall to minimise the impact of the works.  We are also exploring the possibility of further increasing the number of e-Channels and traditional counters.

    Lastly, I appeal to both visitors and residents to pay attention to the information released by the Government on various platforms. They are suggested to check in advance the relevant websites, mobile applications and mini programmes of the ImmD and the TD, as well as those of the Shenzhen and Zhuhai authorities, so as to understand the clearance situations at various BCPs and to avoid making their journeys during peak hours to save waiting time. We will also work with relevant departments to explore further enhancements to the online dissemination of information of BCPs, with a view to facilitating early journey planning by the public.

    MIL OSI Asia Pacific News –

    July 16, 2025

  • MIL-OSI Australia: Transcript – Afternoon Briefing with Patricia Karvelas

    Source: Murray Darling Basin Authority

    PATRICIA KARVELAS, HOST: Let’s get some immediate political reaction, not just to this story, but of course the broader child care crisis too and go straight to the Education Minister Jason Clare. 

    Jason Clare, lovely to have you on the show. 

    JASON CLARE, MINISTER FOR EDUCATION: Thanks, PK, great to be here. 

    KARVELAS: Two child care workers have been charged with assault of a toddler in Western Sydney. New South Wales Police have said the child sustained significant bruising and injuries. Of course, this is one case being handled now by the legal system, as it should be —

    CLARE: Yes. 

    KARVELAS: — but does this latest case show that we have a broader crisis? 

    CLARE: What it underlines is if you don’t care about our kids, you shouldn’t be there working in early education and care. 

    In that report you mentioned that those workers are no longer there, that’s a good thing. But we do need to put in place the sort of measures to help to weed people out that aren’t there for the right reasons, whether it’s the sort of penalties that you impose on centres that don’t act when this evidence comes to light, or naming and shaming centres, giving information to parents about the conditions that are in the centres where their children are, or putting in place things like CCTV. 

    I want to make the point if I can, PK, that 99.9 per cent of the people who care for our kids every single day in these centres love them, they care for them, they educate them, they’re great people that are doing really, really important work, and at the moment they’re as shocked and angry as everybody else in Australia. Their jobs are on TV for all of the wrong reasons. They want to make sure that we do everything we can to weed out the people that shouldn’t be there too. 

    KARVELAS: We also learnt today that the alleged Melbourne paedophile, Joshua Dale Brown, worked at an additional daycare centre that has not been listed by authorities online. That brings the total number of centres he’s worked at to 24. I mean, Minister, why – I know this a state issue in terms of the investigation, but why are we still finding out about child care centres several weeks after the first allegations? 

    CLARE: It’s a bloody good question. This is a nightmare for hundreds more parents, mums and dads who now have to go through the wringer of working out whether their kids are sick or not. And for their little kids, they’ve got to go through the trauma of testing – blood tests and urine tests – to find out whether they’ve got an infectious disease or not. 

    It strikes me when I saw this yesterday that this is another reason why we need an educator register, a database that tells us where people are working and where they have been working. The company responsible here should know this at the click of a button. But so should we. This shouldn’t be the sort of information that comes out in drip feed form, it should be information that’s easy to access quickly. 

    KARVELAS: It seems that there might be more centres. I mean, have you been briefed about whether there are even potentially more that we might find out about? 

    CLARE: No, I haven’t. The Victorian Police would be briefing the Victorian Government specifically on that. But I just make the general point, this is the sort of information that police should have at their fingertips, it’s the sort of information that we should have right now. We don’t have it, but we should do. 

    KARVELAS: Is your legislation on child care changes that you’ve been talking about ready to table into the Parliament and have you briefed the Opposition? 

    CLARE: Yeah, the legislation is almost finalised. I’ll introduce that legislation into the Parliament next week, and we held our first briefing with the Opposition on the legislation today. I want to take this opportunity to thank Sussan Ley, the Opposition Leader, and Jonno Duniam, the Shadow Minister, for the really constructive way in which they’re working with us on this legislation to make sure we get it right. You know, it’s not always the case that Labor and Liberal work together the way we should. We are here, and that’s really important with legislation like this. 

    So, as I said, I’ll introduce the legislation next week. What the bill will do is give us the power to cut off funding to child care centres where they’re not up to scratch when it comes to safety. 

    At the moment a state regulator can shut a centre down tomorrow if they think there’s an imminent threat to safety. But where they’ve identified centres that aren’t meeting the standard and repeatedly they’re not meeting that standard, this will give us the power to issue a condition to that centre, and say that if you don’t meet the standards that we’ve set for you as a nation over the course of, it might be a couple of months, then we will suspend your child care funding or we’ll cancel it. 

    And there’s nothing more important in running a child care centre than the taxpayer funding that runs it – it’s about 70 per cent of the funding that runs a child care centre, it can’t run without it. This is the biggest stick that the Commonwealth has to wield here, and putting a condition on a centre that we would provide publicly, so parents know about it, I think is the sort of thing that hopefully will lift standards to where they need to be. 

    If we get this legislation right, it won’t mean that we’re shutting centres down, it will mean that we’re lifting standards up where centres aren’t meeting the standards at the moment. 

    KARVELAS: Okay, that’s really interesting. So, you’ll issue essentially a warning that will then be publicly shared, would that be like on a central website where people can look to see ‑‑ 

    CLARE: That’s right. 

    KARVELAS: ‑‑ if this has been – and what’s the timeframe? ‘Cause that must be all articulated, it has to be in the legislation, for which they have to respond ‑‑

    CLARE: Yeah. 

    KARVELAS: ‑‑ before that money is suspended?  

    CLARE: The legislation won’t set out the specific timeframe. There will be discretion provided to the Secretary of my Department, but we’re anticipating, depending on circumstances, you’re talking about a couple of months. 

    But let me just make the point again, if we’ve identified a centre where there’s a threat to kids right now, state regulators can shut it down. This is about centres where over a period of time they’re just not meeting the National Quality Framework standard to say, unless you get there soon, the centre is not going to be funded by the taxpayer. 

    KARVELAS: So, at the moment “Working Towards,” as you know, is a rating given to a centre that doesn’t meet quality rating standards. I’m just confused about how that will work still. These centres, are they allowed to keep operating? For how long will you be able to keep operating if you’re just “Working Towards”? 

    CLARE: At first instance what we’re intending to do if we get this legislation passed is to work with the state governments and the state regulators on the centres that they’re most concerned about, that are under that category that you’ve just described where they’re concerned that they’re repeatedly not working hard enough to get to the standard they need to be under the National Quality Framework. 

    So we’ll work with states and territories on the centres that we think need to be the subject of this legislation first and set those conditions for them, set a timeframe for them, and if they don’t meet those conditions within that timeframe, then suspend the child care subsidy payment that helps that centre to operate or cancel it altogether. 

    KARVELAS: And you said this is about lifting standards rather than shutting child care centres down. Of course that would always want to have that aim, because you need children in care —

    CLARE: Indeed. 

    KARVELAS: — or the system would collapse, right? 

    CLARE: That’s right. 

    KARVELAS: But do you envisage that inevitably some child care centres will have to close down? You would think that would have to be an inevitability of a tough system.  

    CLARE: It is a tough system, and that may very well happen. We’re not putting this legislation into the Parliament as an idle threat. But these centres run – 70 per cent of the funding is based on the child care subsidy that the taxpayer provides to help child care centres run. This is the biggest stick we have to wield, to say to centres that if you want to continue to receive this support from the Australian taxpayer, then you have to meet that standard, and if you don’t, then funding will be suspended or cancelled. 

    And what I’m hoping is that that threat is going to be strong enough to get the boards of these companies or the investors in these companies to sit up and listen and realise that we’re serious here and if you don’t meet the standard, then the funding will be cut off. 

    KARVELAS: Spot checks by your Department is another issue that you’ve raised. Are they only going to be deployed for fraud, or will it be child safety as well? 

    CLARE: Principally fraud but not exclusively fraud. At the moment I’ve got a team of investigators in the Department of Education that can do checks on child care centres for fraud. Unfortunately it’s the case that this exists, that child care centres might claim a child is there for three days but they’re only there for two days, and they’re claiming funding from the taxpayer for three days. This legislation will give my officers the power to be able to go in without a warrant or without the AFP to do those checks. 

    But while they’re there, they’ll be able to also examine the safety of centres and share that information with state regulators that do the lion’s share of this work. 

    The Federal Government sets the standards, the state governments do the lion’s share of the work in terms of regulating the system and making sure that it’s safe. 

    KARVELAS: Should there be a national regulator though? Because that’s part of the issue, isn’t it, that we’ve got state-based regulation, it’s quite inconsistent across states. Is there an option for a national regulation? 

    CLARE: There’s a national authority at the moment, ACECQA, that helps to set that standard, and they work closely with the states and territories in the work that they do. 

    There’s a separate question that’s posed by the Productivity Commission’s report last year about whether we set up an Early Education and Care Commission that would look at how we reform the system over the next decade and beyond. That recommendation wasn’t principally about safety; it wanted government to look at a steward for the system to make it more accessible and more affordable. I’ve got an open mind to that recommendation, Patricia, it’s something that we’ll look at over the medium term. It wasn’t intended to be something specifically about safety, but that’s something that it could potentially include.

    KARVELAS: Oh, that’s really interesting. So, you think you could take the Productivity Commission’s recommendation and sort of morph it into something broader?  

    CLARE: Potentially. It’s the sort of thing it’s my job as a Minister to sit down with smart people and pick their brains about how this would work best in practice, people like Georgie Dent at The Parenthood I spoke to the other day about this. 

    I want to make sure that we get this right, I want to make sure that our system is affordable for mums and dads, that it’s accessible everywhere around the country, but most importantly that it’s safe. That’s what this legislation is fundamentally about. But it’s not the only thing that we need to do. 

    The other things that have got to be on the table here are this register so we can track people across the system, identify when people are moving from centre to centre to centre and whether that should be a red flag that something is wrong here, that people are just moving people on rather than reporting them to a regulator or to the police. Proper mandatory child safety training for everybody who works in our centres. 

    I said a moment ago that 99.9 per cent of people who work in our centres are fantastic people. We’ve got to equip them with the skills they need to identify the bad person that might be up to the most horrific of crimes in our centres. And then CCTV as well, which can potentially play a role in deterring somebody from getting up to no good but also help police with their investigations as well. 

    KARVELAS: Minister, if I could just ask you about the Antisemitism Envoy’s report, which of course has been handed to the government. You’ve been talking about this as well. As you know ‑‑ 

    CLARE: Yeah. 

    KARVELAS: ‑‑ your colleague Ed Husic is critical of some parts – not all – but some parts of the report, including the very definition of antisemitism that it’s using. Are you troubled by this definition? 

    CLARE: No, I’m not. I had a quick look at what Ed had to say. I think Ed was fundamentally making the point that any definition of antisemitism shouldn’t stop somebody from criticising the Government of Israel, and I think he’s right in that respect. I don’t think the definition does, by the way.

    But I’ve been critical of the Government of Israel. I think as long as you can make that point very, very clear, you’re on pretty good ground.

    KARVELAS: But it does actually, and I’m just looking at the words here, it does actually refer to the State of Israel by claiming that the existence of the State of Israel is a racist endeavour. Do you think that’s antisemitic? 

    CLARE: No, I think what Ed was saying is it’s a little bit different to then be called an antisemite for criticising the Government of Israel. That’s the fundamental point I think ‑‑ 

    KARVELAS: The existence of Israel is really at the heart of the question, isn’t it? That’s what some people criticise. 

    CLARE: You know my view, the view of the Government, the view I think of the overwhelming majority of people watching the tele today is that we want two countries in the Middle East that sit side by side, one’s called Israel, one’s called Palestine, and they can live together in peace and security behind secure borders and have the sort of safe life that we take for granted here in Australia and in many other parts of the world. 

    KARVELAS: How did the part of the report – this is something that Ed Husic definitely mentioned in relation to younger Australians holding views that are antisemitic. Do you think that – are you witnessing that younger Australians have higher rates of antisemitism? 

    CLARE: I was asked this question today. I said certainly social media plays a role here, and I’m hoping that the ban on access to social media for young people under 16, when that comes into force later this year, is going to have a positive impact on that, but also the mental health and wellbeing of younger Australians. 

    I was also asked about the recommendations in the report about universities. We’re considering those at the moment. We’re not making any announcements about that at the moment. But antisemitism is real, it’s a poison that we’ve seen infect parts of the community. There’s no place for it in our universities, there’s no place for it anywhere in Australia, but it’s just one type of the sort of racism that we see in our community and in our universities. 

    I made the point today that we’ve established a Student Ombudsman that provides a vehicle for students to make complaints, whether it’s about antisemitism, Islamophobia or sexual assaults, or any concerns that they’ve got about the way their university has dealt with them. 

    TEQSA, which is the federal regulator of our universities, has certain powers to intervene here and works closely with universities on this. It has the power to put conditions on universities or to go to court and issue fines. I think there’s an open question there about whether TEQSA needs more powers in this area. 

    And I also made the point today that we will shortly receive a report from the Special Envoy Combating Islamophobia, and we want to see their report as well, as well as the report that we received a few weeks ago. 

    KARVELAS: So, will they be considered together? 

    CLARE: I think that’s the way in which we should consider it, that’s probably the best way to go about this. I’ll also receive a report in a couple of months’ time from the Race Discrimination Commissioner about racism in all its ugly forms in our universities, and I’m sure there’s Indigenous Australians and Asian Australians and international students watching today that are saying, “Don’t forget about me, this affects me too”.

    We don’t necessarily need to wait for that report before we take action. You can do this step‑by‑step. But I just flag, I want to see that report from the Special Envoy on Islamophobia, and there’s also a piece of work that I’ve commissioned around the governance, improving the governance of our universities, that I’ll receive too. And I also want to think about what more powers we should properly give TEQSA, the Tertiary Education Regulator here. 

    KARVELAS: That’s really interesting. Jason Clare, Minister, it’s been great to speak to you. Thanks for joining us. 

    CLARE: Thanks PK.

    MIL OSI News –

    July 16, 2025

  • MIL-OSI United Kingdom: Reminder plan ahead: Dawsons Corner and Stanningley Bypass improvements enter next phase

    Source: City of Leeds

    Over four weeks starting on Monday 28 July 2025, road repairs and resurfacing works will take place on the Stanningley Bypass, as part of the £44.179m Dawsons Corner and Stanningley Bypass improvement scheme.

    Road users are now being urged to prepare to plan ahead, as traffic management (contraflow where vehicles are directed to travel in the opposite direction to the normal flow of traffic) works begin later this month to make improvements to the A647/A6120 Dawsons Corner junction, with repairs and resurfacing works on the Stanningley Bypass.

    The work has been planned to coincide with the reduced levels of traffic over the school summer holidays, allowing for these works to progress as quickly as possible with some significant disruption expected to journeys over the coming weeks.

    Traffic management will be in place 24/7 along with 30mph speed limits to help complete this work efficiently and for the safety of all road users. During the set up and switch around of the traffic management, there will be partial closures of the bypass and some of the access/slip roads will have local diversions.  Access to Pudsey train station will be maintained at all times.

    The road traffic management system will safely allow repairs and surfacing works to take place, starting northbound from 8pm Monday 28 July until 11 August and then southbound from 5am Sunday 12 August, until Tuesday 26 August.

    The Owlcotes Shopping Centre slip road will be closed to facilitate changes to the traffic management on the following dates:

    • Monday 28 July 8pm-5am
    • Monday 11 August 8pm-5am
    • Monday 25 August 8pm-5am
    • Tuesday 26 August 8pm-5am (contingency date)

    Over the previous three summer holiday periods the council has carried out Stanningley Bypass joint and resurfacing repairs work, as part of the highway’s annual maintenance programme. The road works involve the repair of over 140 structures on Stanningley Bypass and associated resurfacing works.

    These changes to the junction when complete will reduce congestion and delays, helping to support economic growth across Leeds and Bradford, as well as improve air quality. Improvements will see better traffic flow, with bus journey times reduced and safer crossing facilities for cyclists and pedestrians.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “The team are working hard to minimise disruption by planning, co-ordinating and sequencing large highways schemes across Leeds. They need careful planning with other works, not always in our control and events across our busy city. We have done lots of work to try and minimise the disruption these works will create, but what ever the amount of planning there may be some delays.

    “Starting from Monday 28 July, to coincide with four weeks of the school summer holidays, please plan ahead when travelling between Bradford and Leeds (A647) or using the (A6120) outer ring road through Dawsons Corner. You will need to allow extra time for your journeys, be patient and follow the signed road diversions in place. For more information, please see the Dawsons Corner project website https://dawsonscorner.commonplace.is/.

    “We thank everyone for their ongoing patience while we continue to work hard to minimise the disruption over the summer and thank those who have already changed the way they travel into and around the city centre.”

    MIL OSI United Kingdom –

    July 16, 2025

  • MIL-OSI Europe: ASIA/SOUTH KOREA – 10th World Youth Peace Pilgrimage in the Demilitarized Zone: “There can be no world peace without peace on the Korean Peninsula”

    Source: Agenzia Fides – MIL OSI

    Wednesday, 16 July 2025

    Seoul (Agenzia Fides) – “There can be no world peace without peace on the Korean Peninsula”. This is the slogan that young Koreans launched, who gathered in the Demilitarized Zone (a strip of land created in 1953 after the armistice of the Korean War, which serves as a buffer zone and border between the two nations, ed.) for the tenth “Peace Pilgrimage.”This year’s pilgrimage, organized by the Korea Reconciliation Committee of the Archdiocese of Seoul and sponsored by the Ministry of Culture, Sports and Tourism, brought together about 40 young people from the south and north of the peninsula, as well as from various other countries around the world.During the four-day pilgrimage, the young people visited several symbolic places that became places of prayer for a few moments. For example, the Odusan Unification Tower offers spectacular views of the Han and Imjin Rivers flowing into the Yellow Sea, and Hwanghae Province of North Korea in the distance.The young pilgrims also visited Imjingak Park on their way to the Jangsan Observatory near Chopyeongdo Island, famous as a migratory bird habitat and surrounded by barbed wire fences surrounding the military training ground. There, they recited St. Francis of Assisi’s “Prayer for Peace,” together, while the gunfire of soldiers training could be heard in the background.The pilgrims moved to Cheorwon, Gangwon Province, where the Cheorwon Peace Observatory is located above the civilian control line and about 2 km from the North Korean border. Then they headed to the “Ice Cream Plateau” also known as Sapseulbong Plateau. Intense fighting and fierce artillery exchanges between the North and South Korean forces happened on this hill during the Korean War. It earned its nickname “Ice Cream Plateau” because the mountain peak looks like a melting ice cream. Here, where the scars of war still linger, young people discussed how to move forward toward peace.The youth cycled to “Open the Moon Café”. Located at the northernmost point of South Korea, near a civilian control zone checkpoint, it is run by young people from the North and who lived in a group home. After the stop, the group headed to the crematorium for UN Troops in Yeoncheon and the military cemetery for North Korean soldiers.”I heard about this North Korean military cemetery, but it was hard to imagine that such a place actually existed. And of course, the people buried here also had parents, families, and a home,” said Joanna Hwang, a mother of three from the North, who was deeply moved that “even though they were enemies, someone took the time to bury and honor the North Korean soldiers.”On the third day of the pilgrimage, participants walked in silence along a 10-kilometer coastal fence path from Nanjeong Reservoir on Ganghwa Island to Gyodongdo Island Manghyangdae Observatory, praying the rosary.On the final day, the apostles of peace offered Sunday Mass with the intention of peace on the Korean Peninsula and around the world. Finally, the participants also shared their experience of the past four days. (F.B.) (Agenzia Fides, 15/7/2025)

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    MIL OSI Europe News –

    July 16, 2025

  • MIL-OSI Europe: ASIA/SOUTH KOREA – 10th World Youth Peace Pilgrimage in the Demilitarized Zone: “There can be no world peace without peace on the Korean Peninsula”

    Source: Agenzia Fides – MIL OSI

    Wednesday, 16 July 2025

    Seoul (Agenzia Fides) – “There can be no world peace without peace on the Korean Peninsula”. This is the slogan that young Koreans launched, who gathered in the Demilitarized Zone (a strip of land created in 1953 after the armistice of the Korean War, which serves as a buffer zone and border between the two nations, ed.) for the tenth “Peace Pilgrimage.”This year’s pilgrimage, organized by the Korea Reconciliation Committee of the Archdiocese of Seoul and sponsored by the Ministry of Culture, Sports and Tourism, brought together about 40 young people from the south and north of the peninsula, as well as from various other countries around the world.During the four-day pilgrimage, the young people visited several symbolic places that became places of prayer for a few moments. For example, the Odusan Unification Tower offers spectacular views of the Han and Imjin Rivers flowing into the Yellow Sea, and Hwanghae Province of North Korea in the distance.The young pilgrims also visited Imjingak Park on their way to the Jangsan Observatory near Chopyeongdo Island, famous as a migratory bird habitat and surrounded by barbed wire fences surrounding the military training ground. There, they recited St. Francis of Assisi’s “Prayer for Peace,” together, while the gunfire of soldiers training could be heard in the background.The pilgrims moved to Cheorwon, Gangwon Province, where the Cheorwon Peace Observatory is located above the civilian control line and about 2 km from the North Korean border. Then they headed to the “Ice Cream Plateau” also known as Sapseulbong Plateau. Intense fighting and fierce artillery exchanges between the North and South Korean forces happened on this hill during the Korean War. It earned its nickname “Ice Cream Plateau” because the mountain peak looks like a melting ice cream. Here, where the scars of war still linger, young people discussed how to move forward toward peace.The youth cycled to “Open the Moon Café”. Located at the northernmost point of South Korea, near a civilian control zone checkpoint, it is run by young people from the North and who lived in a group home. After the stop, the group headed to the crematorium for UN Troops in Yeoncheon and the military cemetery for North Korean soldiers.”I heard about this North Korean military cemetery, but it was hard to imagine that such a place actually existed. And of course, the people buried here also had parents, families, and a home,” said Joanna Hwang, a mother of three from the North, who was deeply moved that “even though they were enemies, someone took the time to bury and honor the North Korean soldiers.”On the third day of the pilgrimage, participants walked in silence along a 10-kilometer coastal fence path from Nanjeong Reservoir on Ganghwa Island to Gyodongdo Island Manghyangdae Observatory, praying the rosary.On the final day, the apostles of peace offered Sunday Mass with the intention of peace on the Korean Peninsula and around the world. Finally, the participants also shared their experience of the past four days. (F.B.) (Agenzia Fides, 15/7/2025)

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    MIL OSI Europe News –

    July 16, 2025

  • MIL-OSI Russia: 11 killed, four injured in road accident in Afghanistan

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    KABUL, July 16 (Xinhua) — At least 11 people were killed and four others injured in a highway accident in Afghanistan’s southern Helmand province, provincial police said in a statement on Wednesday.

    The tragedy occurred in the Kariz area of Washir district, along the highway connecting Herat with the capital Kabul. A passenger bus collided head-on with another vehicle, killing 11 passengers on the spot and injuring four others.

    A preliminary investigation has shown that the cause of the accident was careless driving. All the victims were taken to nearby medical centers, where medical personnel described their condition as critical. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

    July 16, 2025

  • MIL-OSI: Form 8.3 – [MARLOWE PLC – 15 07 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 MARLOWE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 15 JULY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 50p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,013,053 3.8372    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 3,013,053 3.8372    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    50p ORDINARY SALE 1,415 438.923p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 16 JULY 2025
    Contact name: PHIL HULME
    Telephone number: 01253 376551

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    July 16, 2025

  • MIL-OSI: Form 8.3 – [MARLOWE PLC – 15 07 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 MARLOWE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 15 JULY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 50p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,013,053 3.8372    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 3,013,053 3.8372    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    50p ORDINARY SALE 1,415 438.923p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 16 JULY 2025
    Contact name: PHIL HULME
    Telephone number: 01253 376551

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    July 16, 2025

  • MIL-OSI China: Sharp Blade 2025 International Sniper Competition kicks off in Xinjiang 2025-07-16 16:15:55 On Tuesday, the Sharp Blade 2025 International Sniper Competition kicked off at a training base of the Chinese People’s Armed Police (PAP) Force in Urumqi City, northwest China’s Xinjiang Uygur Autonomous Region.

    Source: People’s Republic of China – Ministry of National Defense

      By An Puzhong and Wang Mengjie

      The participating team of the Chinese People’s Armed Police (PAP) Force enters the competition field at the opening ceremony. (Photo by Hou Chonghui)

      URUMQI, July 16 — On Tuesday, the Sharp Blade 2025 International Sniper Competition kicked off at a training base of the Chinese People’s Armed Police (PAP) Force in Urumqi City, northwest China’s Xinjiang Uygur Autonomous Region. More than 50 sniper teams from over 20 countries participated in the competition, including 12 teams dispatched by the Chinese People’s Liberation Army (PLA) Army, Navy, and Air Force, and the PAP Force.

      Foreign participants familiarize themselves with the Chinese military’s CS LR4 precision sniper rifles after the opening ceremony. (Photo by Hou Chonghui)

      With the purpose of promoting pragmatic cooperation and under the theme of “Forge Special Operations Elite and Promote Pragmatic Cooperation and Exchanges”, the competition has set up 12 events covering four categories, namely the basic precision sniping, typical scenario sniping, comprehensive combat sniping, and long-range challenge sniping.

      Compared with previous competitions, the subjects set for this competition placed greater emphasis on human-equipment teaming. It integrated drone aerial reconnaissance, assault vehicle land cover, assault boat water infiltration, and other human-equipment collaboration subjects with sniper operations to better present the real combat conditions.

      As an important brand of the Chinese PAP Force’s real combat training and international military cooperation, the Sharp Blade series of international sniper competition had been successfully held three times. The competition aims to promote international cooperation and exchanges, continuously facilitate the development of counter-terrorism special operations capabilities, and accomplish the missions of combating international terrorism and safeguarding world peace together with global military, police, and gendarmerie forces.

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    MIL OSI China News –

    July 16, 2025

  • MIL-OSI Russia: Since the beginning of 2025, more than 4 thousand China-Europe freight trains have passed through the Alashankou railway checkpoint

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    URUMQI, July 16 (Xinhua) — The number of China-Europe/China-Central Asia international rail freight trains passing through Alashankou Port has exceeded 4,000 since the beginning of 2025 as of July 15, the Urumqi branch of China Railway Urumqi Bureau Group Co., Ltd. said Wednesday.

    Northwest China’s Xinjiang Uyghur Autonomous Region, home to the important land border crossings of Alashankou and Khorgos on the border with Kazakhstan, is actively creating a “golden corridor” on the Eurasian continent and seeking to become a springboard for China’s opening up to the west.

    Since the beginning of this year, railway authorities have reconstructed the aforementioned checkpoints in order to increase their capacity and improve the efficiency of China-Europe/Central Asia freight trains, which has provided effective transport support for the high-quality construction of the Belt and Road.

    At present, 124 China-Europe/China-Central Asia/ international railway freight routes pass through the Alashankou checkpoint, covering 21 countries, including Germany and Poland. They transport more than 200 types of goods, including new energy vehicles, spare parts and components for mechanical equipment. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

    July 16, 2025

  • MIL-OSI Asia-Pac: Muti-Agency Enforcement Operation Against Errant Motorcyclists

    Source: Government of Singapore

    JOINT NEWS RELEASE BETWEEN NEA, SPF AND LTA

    Singapore, 16 July 2025 – The Traffic Police (TP), National Environment Agency (NEA) and Land Transport Authority (LTA) conducted a multi-agency enforcement operation against errant motorcyclists along Admiralty Road West on 8 July 2025.

    2               During the operation, more than 300 motorcyclists were stopped for checks. TP caught 13 persons, aged between 20 and 41, riding without a valid driving licence, an offence under Section 35(1) of the Road Traffic Act 1961, and using a motor vehicle without insurance coverage, an offence under Section 3(1) of the Motor Vehicles (Third-Party Risks and Compensation) Act 1960. NEA issued 25 summonses for offences involving vehicular smoke emissions and excessive noise. LTA issued 33 summonses for offences such as failure to display proper licence plate and expired road tax.

    3               Please refer to Annex A for the penalties for these traffic offences and Annex B for photographs from the enforcement operation.

    4                TP urges all road users to practise good RoadSense. Motorcyclists, in particular, should adopt safe riding habits as they and their pillion riders are more vulnerable on the roads.

    ~~ End ~~

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

    Annex A

    Penalties of Traffic Offences

    TP

    The offence of driving without a valid driving licence under Section 35(1) of the Road Traffic Act 1961 carries a fine of up to $10,000, a jail term of up to three years, or both. Repeat offenders are liable to a fine of up to $20,000, a jail term of up to six years or both. The vehicle may also be forfeited.

    The offence of using a motor vehicle without insurance coverage under Sec 3(1) of the Motor Vehicles (Third-Party Risks and Compensation) Act 1960 carries a fine of up to $1,000, or a jail term of up to three months, or both.

    NEA

    The offence of using a motor vehicle with vehicular smoke emissions or excessive noise under the Environmental Protection and Management (Vehicular Emissions) Regulations, carries a fine of up to $2,000 for the first conviction, and a fine of up to $5,000 for a second or subsequent conviction.

    LTA

    The offence of displaying improper licence plates carries a fine not exceeding $1,000, or a jail term of up to 3 months, or both. Repeat offenders are liable to a fine of up to $2,000, or a jail term of up to 6 months, or both.

    The offence of using or keeping on any road any vehicle without a valid road tax carries a fine not exceeding $2,000 or a fine of an amount equal to 3 times the tax payable if it has been proven that the offender had the intention to evade payment of any tax chargeable under the Road Traffic Act 1961.

     

    Annex B

    Photographs of the enforcement operation

    TP officers working together with NEA and LTA to conduct the joint enforcement operation

     

    MIL OSI Asia Pacific News –

    July 16, 2025

  • MIL-OSI United Kingdom: Life Sciences Sector Plan to grow economy and transform NHS

    Source: United Kingdom – Executive Government & Departments

    Press release

    Life Sciences Sector Plan to grow economy and transform NHS

    The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy.

    The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy, setting out a ten-year mission to harness British science and innovation to deliver long-term economic growth and a stronger, prevention-focused NHS.

    The UK is already a global leader in life sciences, with the sector worth around £100 billion to the economy, and employing around 300,000 people. This plan, developed in close coordination with the government’s 10 Year Health Plan, doubles down on that strength – turning cutting-edge research into real-world results: new treatments, faster diagnoses, and more lives saved. It’s about making sure breakthroughs happen here – and stay here – creating jobs, improving lives in every part of the country, and driving growth.

    Life sciences’ critical importance to both driving economic growth and improving our health – 2 of the core elements of the Plan for Change – has been shown through the government’s action to date to support the sector. The Chancellor re-committed up to £520 million for the Life Sciences Innovative Manufacturing Fund at the Spending Review to pull investment into the UK, and red tape is being slashed to speed up clinical trials, while an up to £600 million investment will deliver a Health Data Research Service that will be unmatched globally – bringing the power of data to bear to unlock breakthroughs in the diagnosis and treatment of diseases.

    The plan sets out a comprehensive roadmap built around 3 core pillars:

    1. Enabling World-Class R&D – strengthening the UK’s leadership in science and discovery
    2. Making the UK an outstanding place to start, scale and invest – growing homegrown companies and attracting global capital
    3. Driving Health Innovation and NHS Reform – delivering better outcomes for patients and a more modern, preventative healthcare system

    6 bold actions to kickstart change

    The Life Sciences Sector Plan will be supported over the lifetime of the Spending Review by government funding of over £2 billion, alongside funding from UKRI and NIHR. Actions include:

    1. Unlocking NHS data to find new cures

    Up to £600 million investment to build the world’s most advanced health data system – helping scientists develop better treatments faster.

    2. Speeding up clinical trials

    Cutting red tape so patients can join trials sooner – and get access to life-changing medicines quicker.

    3. Backing British manufacturing

    Up to £520 million to invest in life sciences manufacturing projects – creating high-skilled jobs and making more treatments and medical devices here at home.

    4. Getting new treatments to patients faster

    Making regulation simpler and faster by boosting departmental support for the MHRA with additional investment – so doctors can use safe, effective innovations without delay.

    5. Helping doctors use cutting-edge tech

    A new NHS ‘passport’ to roll out proven tools faster – like AI cancer scanners or wearable devices that detect disease early.

    6. Backing brilliant UK firms to grow

    Helping fast-growing companies raise investment, scale up, and stay in the UK – with at least one major industry partnership secured every year.

    Built for delivery

    This Plan was shaped with input from over 250 organisations including doctors, scientists, NHS leaders and industry experts to ensure it delivers real impact. It builds on the strong foundations of the 10-Year Health Plan, extending its ambition by uniting health and growth interventions into a single, coherent strategy for the Life Sciences sector. Every action has clear goals and named leads. This is a Plan designed to deliver, not in isolation but as a vital part of the government’s broader Plan for Change.

    Early momentum 

    The plan builds on the Chancellor’s commitment to reduce regulatory costs by a quarter, with increased investment in the MHRA to accelerate approvals and improve efficiency. It aims to streamline MedTech market entry through closer coordination between the MHRA and NICE.  

    The government is also focused on strengthening the UK’s clinical research infrastructure by improving trial delivery, expanding patient access, and embedding research more effectively within the NHS. 

    We have already started delivering on key actions, from investing up to £600 million in the Health Data Research Service alongside Wellcome, through to committing over £650 million in Genomics England and up to £354 million in Our Future Health, while the rollout of ‘innovator passports’ will help speed up the adoption of new tech and treatments on the NHS. This is clear evidence of our commitment and confidence in life sciences as a driver of both economic growth and better health outcomes. 

    Why life sciences matter

    • Life Sciences is one of 8 priority sectors in the government’s Industrial Strategy – reflecting the sector’s high growth potential.
    • Life sciences companies employ over 300,000 people, with more than three-quarters of jobs outside London and the Southeast, supporting opportunity in every part of the UK.
    • The sector improves economic productivity by improving health. With long-term illness a major drag on workforce participation, better health leads directly to a stronger, more resilient economy.
    • The Life sciences sector attracts record levels of private investment. In 2023, the UK raised the third highest amount of life sciences equity finance in the world, behind only the US and China.
    • It is a UK export powerhouse -medicines and medical technologies were the UK’s third largest goods export by value in 2024.
    • And it is innovation-intensive, with 17% of all UK business R&D spend is in pharmaceuticals, the highest of any sector.
    • Artificial Intelligence (AI) is also revolutionising the Life Sciences sector across research, diagnostics, treatment, and manufacturing, reshaping how we prevent, treat, and manage disease. The potential economic impact is substantial, with McKinsey Global Institute estimating that AI could generate $60–110 billion annually for the pharmaceutical and medical-product industries alone .

    Chancellor of the Exchequer, Rachel Reeves, said:

    Our world-leading life sciences sector employs hundreds of thousands of people and is a powerhouse for economic growth that puts more money in people’s pockets. Our Plan for Change is ramping up this success story even further.

    The ten-year life sciences plan we have released today as part of our Industrial Strategy will cut red tape and deliver the investment we funded at the Spending Review so it can stay ahead of the curve globally and we can reap the economic rewards for years to come.

    Science and Technology Secretary Peter Kyle said:

    The life sciences sector is one of the crown jewels of the UK economy. It sits at the heart of both our Plan for Change, and our Modern Industrial strategy, as a unique catalyst for both economic prosperity, and better health outcomes for people across the UK.

    Moving in lockstep with industry, academia and our NHS, we will unleash this sector as a force for good and for growth. The suite of measures we’re announcing today will unlock its full potential — attracting global investment, accelerating innovation, and delivering breakthroughs that will make the UK healthier, wealthier, and even more open for business.

    Business Secretary Jonathan Reynolds said:

    We’re committed to making the UK a life sciences superpower, and our modern Industrial Strategy has earmarked it as one of 8 priority sectors so it can double down on our strengths and keep us at the cutting edge of innovation.

    This government is taking the bold action needed to help this £108 billion industry flourish and create new high-skilled, well-paid jobs right across the country, making our Plan for Change a reality.

    Health Secretary Wes Streeting said:

    This Life Sciences Sector Plan represents a pivotal moment in our mission to rebuild the NHS and shift our healthcare system from one that treats illness to one that prevents it.

    By bringing together the brilliance of British science with the power of our NHS, we’re not just improving healthcare outcomes – we’re building a stronger economy and creating jobs across the country.

    The £2 billion investment will help us make the most of our world-leading health data, speed up access to innovative treatments, and transform the experience of patients. This is how we deliver a health service fit for the future – by embracing innovation that saves lives, cuts waiting times, and makes the NHS sustainable for generations to come.

    The plan comes just days on the same day as the fourth “Made in the UK, Sold to the World” Roadshow, a government-led initiative designed to boost SME exports in the Life Sciences sector.

    The roadshow focuses on the 8 sectors highlighted in the modern industrial strategy, forming part of the government’s commitment to supporting high-growth industries with the greatest potential to create jobs, increase productivity, and drive long-term economic growth.

    Support for the Life Sciences Sector Plan

    Professor Sir John Bell, President of the Ellison Institute of Technology and UK Government Life Sciences Champion said: 

    With our world-leading science base, genomics capabilities and industrial heritage, our Life Sciences sector can truly be among the best globally, ensuring the UK is developing and benefiting from the technologies of the future. We must however move past high level ambitions. This plan, with an inbuilt, relentless focus on delivery, provides the vehicle to take us there.

    Deepak Nath, CEO of Smith+Nephew, said:  

    Smith+Nephew welcomes the publication of the government’s Life Sciences Sector Plan and its clear recognition of the critical role that medical technology plays in building a sustainable, high-performing NHS.  

    We are encouraged by the plan’s focus on the full life cycle of medical technologies – from research and development, and manufacturing, through to regulation, evaluation and adoption – and by the continued engagement with industry throughout its development.  We look forward to supporting the plan’s implementation.

    Dr Tony Wood, Chief Scientific Officer, GSK, said: 

    We welcome the government’s Life Sciences Sector Plan – in particular, the reforms to incentivise more UK clinical trials, establish a new Health Data Research Service and create a network of translational labs and clinics to accelerate drug discovery and development. These changes can bring unique competitive advantage to the country and make the UK a leader in future life sciences research.

    Tim Sheppard, SVP & GM, North Europe, IQVIA, said:

    IQVIA welcomes the Life Sciences Sector Plan and its bold ambition to realise  more investment in commercial R&D than any other country in Europe by 2030.

    Human data science and AI technology underpin our global leadership in commercial clinical research, we recognise the potential in the Plan for the Health Data Research Service to be a catalyst in the UK Government’s  commitment to create the  world’s most advanced and secure health data platform, enhancing the UK’s attractiveness for global trials and AI investment.

    The Life Sciences Sector Plan will strengthen IQVIA’s ability to offer its global life sciences sponsors a seamless and efficient development pathway from early phase trials to regulatory approval and enhance patient access to innovative treatments – improving patients’ lives and driving further economic growth in the UK.

    Steve Rotheram, Mayor of the Liverpool City Region, said: 

    The Liverpool City Region has a proud history of innovation and is fast becoming recognised as a powerhouse in health and life sciences – from pioneering infection and disease control to cutting-edge manufacturing.  

    This plan is a welcome step towards unlocking the sector’s full potential, and I’m confident our region will play a central role in delivering that ambition. With our world-leading assets in biomanufacturing, digital health and infectious disease research, we’re already demonstrating how innovation in our region can improve lives, create highly skilled jobs, and attract global investment. Backed by the right partnerships and investment, we can help cement the UK’s place as a global leader in life sciences.

    Lord Ara Darzi, Paul Hamlyn Chair of Surgery, Imperial College London, Consultant Surgeon, Imperial College Healthcare NHS Trust and the Royal Marsden NHS Foundation Trust and Independent Member of the House of Lords said: 

    This plan is a detailed blueprint for implementation. It marks a profound change not just in how we go about enabling discovery but also in the way we deliver it. It sets the United Kingdom up to lead not just in trialling innovation but in making such innovations have real world impact for the benefit for patients, the National Health Service, and economic growth.

    Dr. Vin Diwakar, Clinical Transformation Director at NHS England, said:

    The Life Sciences Sector Plan is a major step forward, accelerating patient access to the latest health innovations through better industry partnerships, solidifying the NHS’s role in economic growth. Through initiatives like the Health Data Research Service and ‘innovator passports,’ we’re unlocking data’s potential for cures and fast-tracking proven health technologies, ultimately transforming patient care and making the NHS fit for the future.

    Peter Ellingworth, Chief Executive of the Association of British HealthTech Industries (ABHI) said:  

    ABHI welcomes the publication of the Life Sciences Sector Plan. Developed with meaningful engagement from the HealthTech industry, it recognises the critical role that HealthTech will play in driving innovation and supporting the NHS to deliver the reforms needed to ensure its long-term sustainability. We are particularly encouraged by the commitments to regulatory reform, investment in research infrastructure, and measures to accelerate the adoption of innovation. To succeed, this strategy must be delivered in genuine partnership with industry and the NHS, and focused on removing the persistent barriers that prevent patients from benefiting from the best technologies. ABHI and our members are committed to playing an active role in translating these ambitions into tangible improvements for patients, the NHS and the economy.

    Paul Tredwell, Executive Vice President of Accord Healthcare said: 

    It is very encouraging to see a Life Sciences Sector Plan which for the first time recognises the immense contribution of the off-patent industry, a sector which provides around 80% of all the UK’s medicines. As one of the largest manufacturers supplying medicines to the NHS, and a company currently applying to the government’s LSIMF scheme, we welcome this Sector Plan as a positive step and look forward to working with government on policies that will support future growth and investment.

    Nicola Perrin MBE, Chief Executive of the Association of Medical Research Charities (AMRC) said: 

    We’re pleased to see life sciences recognised as a priority sector for the UK. This is a triple win for the economy, for the NHS and for patients. It will benefit people across the country and unlock new ways to prevent, diagnose and treat disease. 

    We welcome the positioning of research at the heart of the Life Sciences Sector Plan, from the earliest stages of discovery science and beyond. We also welcome the focus on ensuring that the NHS embraces new discoveries and innovations – these will only have an impact if they get to patients quickly and effectively.  

    It’s reassuring to see a clear focus on implementation and accountability in the plan. This will help to ensure urgent action and real change. Medical research charities must be key delivery partners – they support R&D that focuses on patients, addresses areas of unmet need and accelerates impact.

    Dr Samantha Walker, Director of Research and Innovation at Asthma + Lung UK, says:    

    We are pleased to see the Life Sciences Sector Plan setting out an array of opportunities for action to accelerate the growth of the UK’s respiratory research and innovation sector.   

    There has been too little scientific progress for people living with lung conditions – the third biggest killer in the UK. This plan for investment, with its focus on innovation and access to health data for research, could help drive desperately needed improvements to the diagnosis and treatment of lung disease, which affects 1 in 5 people in the UK.  

    With effective implementation, this plan could lead to research investment that will save lives and significantly reduce the number of preventable A&E visits due to asthma attacks and COPD exacerbations. Furthermore, it has scope to increase the growth of the life sciences sector and will benefit the UK economy by cutting days lost to sickness.

    Louis Taylor CBE, CEO of the British Business Bank, said:  

    In the UK, we are very good at starting high-potential companies and creating breakthrough innovation, but what’s often lacking is the capital to scale these startups. The British Business Bank has been at the heart of growing the UK innovation economy for the last ten years. Today, the Bank is the largest investor in UK venture and venture growth capital funds and the most active late-stage investor in life sciences and deeptech. We welcome today’s Life Sciences Sector Plan and will continue to support the growth of this critical sector.

    Mike Fairbourn, Vice President & General Manager, UK & Ireland for Becton Dickinson said: 

    Becton Dickinson welcomes the UK government’s publication of the Life Sciences Sector Plan. The plan’s focus on accelerating regulatory approvals, streamlining procurement pathways and investing in innovative manufacturing underscores the crucial role of medical technology in driving better health outcomes and economic growth. We strongly support these commitments and stand ready to work hand-in-hand with government, the NHS and regulators to deliver on these ambitions. Together, we can unlock the full potential of the UK’s medical technology industry to bolster the UK life sciences sector and the wider economy, and to benefit patients across the country.

    Dr Daniel Mahony, Chair of the UK BioIndustry Association said:  

    Making the UK an outstanding place in which to start, grow, scale and invest in life science companies is key to driving UK economic growth.  The life science sector plan is right to focus on getting substantially more public and private investment in early-stage companies, improved access to data, trials and skills to help companies grow, and more streamlined regulation and market access pathways to get innovative medicines to NHS patients. We particularly welcome the focus on unlocking pension funds to increase investment in scaling life science companies. In this parliament, the UK has the opportunity to create a truly-world leading life sciences ecosystem that works for start-ups, scale-ups and established global companies alike.

    Dr Kevin Lee, CEO of Bicycle Therapeutics said:  

    Bicycle Therapeutics welcomes the government’s vision to make the UK a Life Sciences superpower as part of its bold and ambitious Industrial Strategy. We support the strategy’s aspiration to accelerate the growth of UK companies by encouraging investment in the sector, simplifying the regulatory environment, and leveraging the UK’s unique healthcare ecosystem to innovate in clinical trial design. At Bicycle, we view this plan as an opportunity to support the advancement of our work to unlock the potential of our Nobel prize-winning science and create new medicines for a wide variety of diseases, starting with cancer. We are excited by the prospect of working in an ever more innovative and productive sector that will see British scientific breakthroughs transform the lives of patients across the globe.

    Professor Sir Rory Collins, Principal Investigator and Chief Executive of UK Biobank, said: 

    The Life Sciences Sector Plan shows how, with long-term thinking, the UK can build on its many world-leading institutions and facilities to deliver a world-class base for science. UK Biobank is living proof of the value of long-term thinking and the impact it can have on life sciences, with projects like our recent decade-long work scanning 100,000 volunteers that is transforming health research and helping the NHS. 

    The UK government continually supports UK Biobank as shown by its £20 million investment for our project to measure proteins in the blood of our half a million volunteers. This investment is helping generate the world’s most comprehensive health data and, by making it so accessible, we’re effectively able to crowdsource the minds of the planet’s greatest experts. That accessibility is why philanthropists and industry from around the world keep amplifying the government’s investment, leading to more data that drives even more research.

    Professor Ugur Sahin, Managing Director, CEO and Co-Founder of BioNTech said:  

    We believe that innovative treatments reach patients faster when sectors collaborate towards a common goal. The renewed Life Sciences Plan reflects this spirit and has the potential to transform medicine through real progress in cancer care and beyond – both in the UK and globally.

    Helen Dent, CEO of British In Vitro Diagnostic Association (BIVDA) said: 

    This plan reflects the government’s understanding of the challenges facing the life sciences industry and their commitment to driving investment, growth, and innovation across the sector. 

    Pledges which reduce the cost and streamline the adoption of diagnostics, MedTech and genomics are hugely welcome, as are measures to introduce low-friction procurement and contracting mechanisms. 

    Ultimately, success will depend upon continued collaboration between government, industry, and the healthcare system to ensure its ambition is matched by delivery. BIVDA looks forward to supporting this process and bolstering the UK’s position as a world-leader in life sciences.

    Hyoungki Kim, CEO and Vice Chairman of Celltrion, said: 

    As a South-Korea based company with a global outlook, we are committed to adapting to the long-term dynamics of the markets we serve. The UK is a key supply destination for us, and we remain committed to supporting the NHS through the increased availability of biosimilar medicines in the coming years. The UK is an important supply destination for us, and we are planning substantial investments to expand our biosimilar medicine supply in the coming years. We therefore welcome the recognition in the life sciences plan that biosimilars are a critical means of delivering value to the NHS and, importantly, expanding patient access. This acknowledgement reinforces our confidence in prioritising the UK as a central focus of our global efforts.

    Massimiliano Collela, Chief Executive Officer of CMR Surgical, said: 

    We are grateful to the government for their support of leading UK Tech and Life Sciences scale-ups like CMR Surgical through the government’s Industrial Strategy, the 10 Year Health Plan and the Life Sciences Sector Plan.  With the government’s support, the UK innovation sector continues to flourish.

    Lars Petersen, President & Chief Executive Officer of FUJIFILM Biotechnologies, said: 

    FUJIFILM Biotechnologies warmly welcomes the UK government doubling down on its commitment to life sciences with this timely and ambitious new Sector Plan. 

    The UK has long been a global powerhouse in life sciences R&D – but what truly excites me about this plan is its potential to supercharge the life sciences ecosystem. By combining world-class discovery, cutting-edge development, and advanced manufacturing under one cohesive vision, the UK is positioning itself to not just lead in innovation but ensure the entire life sciences value chain flourishes. 

    I’m especially pleased to see the critical role of innovative medicines manufacturers, like FUJIFILM Biotechnologies, recognised as essential to the UK’s future growth. This isn’t just about planning; it’s a clear roadmap to unlocking our potential to fuel economic growth, spark groundbreaking innovation, and improve patient outcomes across the board. 

    The government’s pledge of £520 million in grants to expand the UK’s medicines manufacturing sector can also be a game-changer. Remaining globally competitive requires action, and this is exactly the kind of commitment needed to kickstart a new era for the UK’s life sciences. Combined with ongoing private-sector investment and the support of an empowered Life Sciences Sector Council, we’re looking at the foundation of a win-win scenario for government, business, patients, and innovators alike. 

    As one of the UK’s largest investors in innovative medicines manufacturing, FUJIFILM Biotechnologies stands ready to seize this opportunity. We look forward to helping turn this vision into a reality and build a stronger, more sustainable future for life sciences in the UK.

    Richard Stubbs, Chair of the Health Innovation Network said:  

    The UK is now in a race to the top to become a global powerhouse for the life sciences sector. To achieve this, we will need to go further to find, test and implement health innovations at pace and at scale. It is right that place-based innovation capacity and capabilities have been identified in the Life Science Sector Plan as a key enabler for the sector. 

    The Health Innovation Network is proud of the impact that we deliver with our partners in the NHS, academia and industry – from SMEs to multinationals – to improve patient outcomes, release capacity in the NHS to cut waiting lists and to drive economic growth, all priorities that are rightly recognised in this plan. The contribution the life sciences sector has to improve the health and wealth of the country is more evident now than ever. Through working locally with our vibrant life science sector, our health innovators, and our NHS staff we will deliver real change on the ground that has a national impact, and that supports the bold ambitions set out in the Life Sciences Sector Plan.

    Yamin Mohammed Khan, CEO of hVIVO said: 

    We were pleased to establish a working partnership with the Office for Life Sciences in support of their sector plan. The UK has a remarkable and longstanding legacy in life sciences, something which we at hVIVO are proud to be a part of as the world leading provider of human challenge trials. The UK has a proven track record of innovation that continues to thrive. As a global pillar in health research and life sciences, the UK plays a vital role in shaping the future of healthcare and scientific advancement. We’re excited to see how this 10-year plan unfolds, helping the UK maintain its global reputation and further strengthen its leadership in the life sciences sector.

    Mark Robinson, Vice President and General Manager, UK and Ireland, and North Europe at Illumina, said: 

    Illumina strongly supports the UK government’s ambition, outlined in the Life Sciences Sector Plan, for genomics to contribute to half of all healthcare interventions by 2035. The plan’s focus on integrated health data, streamlined clinical trials, and expanded genomic infrastructure aligns with Illumina’s mission to unlock the power of the genome to improve human health for all. Illumina’s longstanding partnerships in the UK have played a key role in advancing our understanding of the genome, and we look forward to continuing these collaborations to support the UK’s leadership in global genomic research and innovation.

    Dr Stella Peace, Interim Executive Chair of Innovate UK said: 

    The Life Science Sector Plan positions innovation as a critical engine with the potential to power breakthroughs, drive economic growth and transform lives. The plan sets out how we will unlock the full potential of UK life sciences by backing the businesses, researchers and technologies shaping the future of healthcare and delivering real societal impact.  Innovate UK look forward to being part of bringing this plan to life.

    David Marante, Vice President UK and Ireland at Intuitive, said: 

    We know how important equity of access to innovation is to improve patient care in the NHS.  For the last 2 decades we’ve worked together with NHS Trusts in England to implement da Vinci robotic-assisted surgery programmes, harnessing our innovations to help enhance patient and care team experience, and reduce waiting lists through increased productivity to ultimately improve patient outcomes. 

    With health innovation as a key pillar of the government’s vision for the UK’s Life Sciences sector, we’re excited to continue supporting NHS care teams to improve equity of access to minimally invasive care with da Vinci RAS, enabling patients to get back to what matters most.

    Mark Samuels, Chief Executive of Medicines UK, said:   

    Generics and biosimilars account for 4 in every 5 NHS prescriptions, making them a cornerstone of patient care and an essential part of the UK’s life sciences ecosystem. We welcome this plan’s recognition of their vital role.   

    The off-patent sector operates in a highly competitive global environment. To maintain supply and attract sustained investment, the UK must offer a policy and operating landscape that is both supportive and internationally attractive.   

    We are encouraged by the strategy’s ambition and clarity – particularly its objective to make the UK a world leader in the adoption of off-patent medicines, with a strong emphasis on biosimilars.

    A thriving off-patent sector delivers access and value for the NHS and forms the foundation for future pharmaceutical innovation and investment. We look forward to working with Government to deliver on this important agenda.

    Lawrence Tallon, Chief Executive of the Medicines and Healthcare products Regulatory Agency, said:  

    I welcome the publication of the Life Sciences Sector Plan and fully support its ambition to make the UK a global leader in life sciences and a country where innovation delivers for everyone. 

    It’s great to see the MHRA is recognised as a pivotal partner in delivering the plan’s vision – by supporting innovation, protecting public health, and making the UK a global destination for innovators to research, develop and launch cutting-edge medical products. 

    Working with our partners across the sector, we will continue to enable safe and effective innovation that benefits patients, the public, and the economy.

    Kit Erlebach, Chairperson of the UK’s Medicines Manufacturing Industry Partnership (MMIP) and Senior Director, Engineering at FUJIFILM Biotechnologies UK said: 

    The UK government’s new Life Sciences Sector Plan signals a clear and ambitious commitment to the future of life sciences in the UK. This plan provides a unique opportunity to build upon our nation’s strengths in research, development, and manufacturing, creating a fully connected and world-leading life sciences ecosystem, with innovative large and small medicines producers. 

    By articulating a clear vision for medicines manufacturing alongside discovery and development, the UK is laying the foundation for a thriving sector that benefits patients, drives innovation, and delivers economic growth. The focus on medicines manufacturing as a key component of this strategy is vital, providing the necessary support to strengthen the UK’s position on the global stage. 

    The allocation of £520 million in grants for expanding medicines manufacturing capabilities demonstrates the government’s dedication to fostering a competitive and sustainable industry. Combined with continued private-sector investment and collaboration across the sector, this targeted support will create new opportunities for innovation, employment, and improved health outcomes. 

    The Medicines Manufacturing Industry Partnership (MMIP) is proud to have contributed to support the development of this Sector Plan. In a rapidly changing international context, today’s announcement is a key step on the journey to enhance the UK’s international competitiveness. We are committed to working with Government to drive implementation of this plan, and the other necessary steps set out in the MMIP’s 10-year vision to deliver on our shared ambition.

    Darius Hughes, UK General Manager for Moderna, said:   

    Moderna welcomes the UK government’s Life Sciences Sector Plan as a bold and timely commitment to strengthening the UK’s position as a global leader in healthcare innovation and adoption.   

    Through our strategic partnership, we’ve invested in UK-based mRNA R&D and manufacturing, because we believe in the UK’s ability to turn scientific excellence into real-world impact.   

    This Plan gets the fundamentals right — from smarter regulation to investing in talent and unlocking the potential of health data — and we look forward to continuing our work together to deliver meaningful outcomes for patients, the NHS, and the economy.

    Professor Patrick Chinnery, Executive Chair of the Medical Research Council, said: 

    The new Life Sciences Sector Plan sets out a bold vision to transform how one of the UK’s most dynamic and globally competitive sectors delivers for our economy and for people around the world. 

    The Medical Research Council is committed to playing a central role in realising this vision by accelerating the translation of curiosity-driven research into innovations that support disease prevention, earlier diagnosis and better treatments. 

    In partnership with researchers, charities and industry, we will help more people live healthier, more productive lives, and attract further investment to strengthen the UK’s life sciences sector.

    Matthew Taylor CBE, Chief Executive of the NHS Confederation, said: 

    Health leaders will welcome the publication of the life sciences sector plan which will play a crucial role in building an NHS that’s fit for the future. Having a thriving UK life sciences and innovation sector is key to ensuring patients get access to the treatments and innovations they need and at the best value to the health system.  

    For the government’s NHS reforms to succeed a successful life sciences programme is key, and the sector benefits from using the NHS as a testbed and delivery partner for new innovations. We look forward to working with the Office of Life Sciences, the Department of Health and Social Care and NHS England to ensure the views of health system leaders are reflected in the implementation of the plan so that it can deliver for both the health system and life sciences sector.

    Dr Sam Roberts, Chief Executive of the National Institute for Health and Care Excellence (NICE), said: 

    We warmly welcome the publication of the government’s Life Sciences Sector Plan, which sets out how NICE will ensure patients get faster, fairer access to transformative new medicines and life-changing healthtech, while supporting a thriving life sciences industry in the UK.  

    This comprehensive plan establishes a clear vision for how NICE, the NHS, and industry can collaborate to truly transform people’s lives through better, more equitable access to innovation. At NICE, we are committed to playing our part in ensuring that the UK remains at the forefront of life sciences innovation while delivering a sustainable and effective health service for all.

    Ros Deegan, CEO of OMass Therapeutics, said:  

    The new Life Sciences Sector Plan outlines ambitions that fit the UK’s world-leading capabilities and should help small and medium sized Life Sciences businesses scale, grow and keep innovation within the UK. As a growing biotechnology company with products approaching the clinic, we are encouraged to see actions designed to cut clinical trial approval times and improve access to capital – 2 critical factors that will benefit the sector and the wider economy.

    Dr. Lucinda Crabtree, Chief Financial Officer of Oxford Biomedica, said: 

    The UK government’s Life Sciences Sector Plan sets out a clear commitment to making the UK a global hub for health innovation. At OXB, we have experienced first-hand how targeted government support — including funding from Innovate UK — can help unlock growth and build globally competitive capabilities. The plan’s focus on accelerating clinical trial processes, streamlining regulatory pathways, and investing in manufacturing, genomics, and health data infrastructure will support innovation and improve access to breakthrough treatments. These initiatives are vital to establishing the UK as a key market to scale life sciences businesses, attract investment and world-class talent, and drive long term economic growth.

    Gordon Sanghera CBE, CEO and Co-founder of Oxford Nanopore Technologies, said: 

    The UK’s ambition to further expand the integration of genomic and molecular data into health systems and the economy – at scale – is exactly the kind of bold infrastructure investment that can improve lives and drive economic growth. In that system, being able to move quickly from innovation to implementation is essential to translating UK science into global health and economic impact.

    Roland Sinker CBE, Chief Executive of Cambridge University Hospitals NHS Foundation Trust, said:  

    As I outlined in the Innovation Ecosystem Programme report, there is a significant opportunity to deliver meaningful benefits to the NHS and patients through innovations developed by UK life sciences companies. I fully support the Life Sciences Sector Plan and its clear commitments to advancing research, enabling UK life sciences to thrive, and accelerating health innovation. These actions are essential to ensuring that NHS staff and patients are among the first to benefit from the latest breakthroughs.

    Richard Saynor, CEO of Sandoz said:  

    We welcome the government’s commitment to becoming a world leader in the uptake of off-patent medicines. The target of £1 billion of savings from biosimilars is both realistic and achievable. Increasing their use will unlock greater worker productivity and increase the health of the UK population – a major contribution to the government’s growth imperative. As a committed partner to the NHS and government, Sandoz will dedicate resources and expertise to realise the goals for the off-patent sector within the Life Sciences Strategy.

    Neil Daly, CEO and Founder of Skin Analytics, said: 

    We welcome the clear action plan in the Life Sciences Sector Plan for streamlining and speeding up the adoption of proven healthcare technologies and feel the plan will make a meaningful difference to UK health innovators. In skin cancer, this means that the NHS can move much more swiftly to establish appropriately regulated autonomous AI triage as standard practice for all patients. This will find more cancers, free up clinician time and save taxpayers’ money.

    Dr Michael Spence, University College London President and Provost said: 

    Universities will be at the heart of making the UK the leading life sciences economy in Europe. With its backing for world-class research and clinical trials, the Life Sciences Sector Plan will help us achieve even more. 

    London is a global centre for innovation, with Euston already a leading area for life sciences where world-class universities, healthcare, and life science companies come together. With new investments in Oriel at St Pancras Way with Moorfields Eye Hospital, and a state-of-the art neuroscience facility at Grays Inn Road, UCL is at the heart of making the area a global leader. The new Life Science Hub at Euston station is a step towards realising the huge potential in this area and achieving the government’s ambitions 

    John-Arne Røttingen, CEO of Wellcome, said: 

    The ambition set out in the Life Sciences Sector Plan is hugely welcome. Life sciences are a historic strength of the UK, and this strategic vision is important to cement the country’s advantage in the future. The plan’s emphasis on the importance of early-stage research is particularly shrewd. Basic discovery science underpins later health breakthroughs and clinical trials, making it the essential bedrock for a thriving research economy.  

    The focus on speeding up trials and on data infrastructure for research will not only lead to real impact for patients but also strengthen the UK’s attractiveness to innovative researchers and businesses.  

    If the level of ambition in the plan is matched by meaningful action and investment, the UK will be well on its way to securing its place as a global life sciences leader.

    Notes to editors

    The full collection of Industrial Strategy sector plans can be found here.

    DSIT media enquiries

    Email press@dsit.gov.uk

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    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

    July 16, 2025

  • MIL-OSI Australia: Doorstop – UTAS, Sydney campus

    Source: Murray Darling Basin Authority

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much for coming along this morning. 

    I’m here at the University of Tasmania’s campus right here in the heart of Sydney training the next generation of nurses and paramedics. And a couple of weeks ago we kicked off for the first time paid prac. That’s financial support. 

    Paid prac is financial support for teaching students, for nursing students, for midwifery students and for social work students to provide them with a little bit of financial help while they do the practical part of their training, with the practical part of their university degree. 

    Placement poverty is a real thing. As we developed the Universities Accord, one of the things that leapt out time after time talking to students was the financial challenges that come with doing the practical part of your university degree. And students over there in the background mentioned it to me just a minute ago. One student told me that she had to delay or extend her degree for a year just because of the financial challenges of doing your prac and having enough money to put food on the table, to pay your bills. This is one of a whole suite of recommendations in the Universities Accord that we’re implementing. 

    Another thing that came out of the Universities Accord was the reform that is needed to our HECS system, or what we used to call HECS – what we now call HELP – to student debt. Next week I’ll introduce two pieces of legislation into the Federal Parliament. The first cuts students debt by 20 per cent and the second one will cut funding to child care centres that aren’t up to scratch. 

    On the first bill, this is something that we promised the Australian people during the election campaign – that we would cut the student debt of 3 million Australians by 20 per cent. It’s worth something in the order of $16 billion dollars. And for the average Australian with a student debt it will cut their debt by more than $5,500. It will take a lot of weight off the shoulders of a lot of young Australians who are just out of uni, just getting started, just getting on their feet looking to move out of home or save up to get a mortgage. That money taken off their HECS bill will make a world of difference. 

    And the other bill that we’ll introduce next week, as I said, will cut funding from child care centres that aren’t up to scratch. This is something that we promised in the last week of Parliament before the election was called. We did that in response to the revelations that came out of the Four Corners exposé earlier this year about abuse and neglect in child care centres. 

    The truth is that if we want real reform in early education and care, if we want every child care centre to pay attention to safety, to give it the priority that it needs and deserves, then the most powerful weapon the Federal Government has to wield here is money. Child care centres don’t work, don’t operate without the child care subsidy. It represents about 70 per cent of the funding that runs a child care centre. 

    The purpose of this legislation isn’t to shut child care centres down, it’s to raise standards up. What it will do is set conditions on centres that if they don’t meet the sort of standards that parents expect and that our kids deserve, then funding will be suspended or removed entirely. And, as I said, the purpose of this is not to shut centres down but to lift standards up. It’s just one of the things that we need to do to improve the safety of children in our child care centres. 

    Today I’m also releasing this document, which is a roadmap of some of the key reforms that we will roll out in education over the next 12 months. It doesn’t set out everything, but it sets out some of the key reforms, including this legislation to cut student debt by 20 per cent, including this legislation to cut funding to child care centres that aren’t up to scratch. But this year we will also introduce legislation to improve the integrity of the international education system and legislation to permanently establish an Australian Tertiary Education Commission. That and much more that’s needed to make our education system better and fairer and safer. 

    Happy to take some questions. 

    JOURNALIST: Minister, on child care, when can we expect to see a national child care worker register up and running, and what’s the process from here to establish that? 

    CLARE: It’s a good question. I was asked this question this morning. Work is already underway on that. States and territories have agreed that we need one and we need to accelerate the work to stand that up. 

    The first steps are what the states are taking now – Victoria has already said that it will augment its existing teacher register to include the educators that work in their centres. They think that they can do that over the course of the next few months. What we want to do is see all states build that up and then join it up. So that work is underway with states at the moment as well as the federal authority that’s responsible in this area, called ACECQA. 

    JOURNALIST: You have acknowledged that the government has been too slow on child care reform. Who’s the minister responsible for that, and who do you hold responsible for the fact that it has been slow? 

    CLARE: I’ve been pretty blunt. I’ve said that, yes, action has been taken but more action is needed and it needs to happen quicker. I don’t think Australian parents are interested in excuses here. They want action. And action requires all levels of government to work together and the industry to join in as well. 

    Have a look at the revelations today that another 800 children have to get tested, blood tests and urine tests. Think about the anxiety that mums and dads are going through today, think about the trauma that kids are going to have to go through with all of that testing. 

    Now, the company that runs those centres should have known where this bloke was and when he was working there. The Victorian Government is working as quickly as they can to track all of this down. But it highlights to me the importance of having a national database or a national register like the one you just asked in the previous question so you can track people down when they cross borders, when they move centres. 

    JOURNALIST: And what point do you think it would become – you know, that particular case, that person moved around a lot. At what point do you think it would become suspicious if someone within the system was moving around a lot? 

    CLARE: So conscious this is a live investigation, so let’s pose this question in general terms. 

    JOURNALIST: Yeah. 

    CLARE: If we build this register the right way it helps us to identify or prompt red flags when somebody is moving for the wrong reasons. There’ll be some times people who will move between centre and centre because they’re labour hire, but there may be instances where people are moving from centre to centre because they’re quietly being moved on. 

    If the system works the way it needs to work, when something is not right, the police are called and the regulator comes in. And, if necessary, the centre is shut down. 

    JOURNALIST: We’re hearing some parents demand that centres only have female staff. What do you think of that? 

    CLARE: I think you might have asked me this question, Fiona, last week, there’s a bit of media about this. Have a look at the Four Corners evidence that shows that this is not just a problem with blokes. It’s a problem with women as well. We’ve had royal commissions. We’ve had the child safety review that I commissioned after that serial paedophile was arrested and convicted in Queensland. We know what we need to do here. In none of those reports did they recommend this. What they’re recommending is that register, they’re recommending national mandatory safety training so that the 99.9 per cent of people who work in our centres who are good, honest, hard-working people who love our kids and care for them and educate our kids have the skills they need to identify the person that’s up to no good, and things like CCTV so that we can deter bad people from doing bad things and help police when bad things happen. There’ll be individual centres that will talk to mums and dads about the way in which they operate in the system. But just cutting blokes out of it all together is not going to be the solution. 

    JOURNALIST: Is it discrimination, Minister? 

    CLARE: I don’t think there’s any example of any other profession in the country where it’s gender specific. The more important point I want to stress here is if we’re serious here about making sure that our kids are looked after and they’re safe, just identifying one gender is not the way to do it. 

    JOURNALIST: And also just on a follow-up on this matter, parents have naturally lost confidence in the system because of what’s happened. Some parents are now opting for in-home care where grandparents or relatives look after kids. Would you ever envisage a situation where the government might subsidise something like that, where parents or grandparents got paid to look after their grandchildren or – 

    CLARE: That’s not something the government is considering. 

    What we want to make sure of is that the system is as safe as it needs to be. We want it to be affordable, we want it to be accessible, but most important of all we want our kids to be as safe as they possibly can be. 

    Now, this is an essential service for mums and dads. There’s more than a million mums and dads out there today who are watching this, it might be in their own workplace. They might be working from home, but they know how important this is. They can’t live the lives that they’re living without this. But it’s also important for their kids, too. It’s providing them with the building blocks for the education they’re yet to have. 

    If you ask principals and teachers at schools, they’ll tell you that they can identify the kids when they first arrive at primary school that have been in early education and care, whether it’s sitting up straight, whether it’s listening or whether it’s having those literacy and numeracy fundamentals. All of those things make them ready to learn. 

    Now, at the moment there’s lots of kids in early education and care, but there’s some that are still missing out because they’re from really poor and disadvantaged backgrounds. And they start school already behind. So, we’ve got to make the system better. We’ve got to make the system fairer. But, most importantly, we need to make the system safer. 

    JOURNALIST: Do you support Jillian Segal’s policies to withhold funding from universities if they fail to stop or address antisemitism? 

    CLARE: So, we’re considering Jillian Segal’s report, the Special Envoy on antisemitism. I won’t respond today to those recommendations. But there are things that we are already doing in this space. I need to underline the point that there is no place for the poison of antisemitism in our universities. 

    JOURNALIST: So, you won’t say whether you support – 

    CLARE: Hang on. 

    JOURNALIST: Sorry. 

    CLARE: There’s no place for the poison of racism in all of its ugly and obnoxious forms in our universities or anywhere else. I’m not going to say today what our response to that recommendation will be. What I will say is we’ve taken a number of steps already. We’ve established a National Student Ombudsman for the first time so students that make complaints to their universities that are unheard have an independent person to complain to. And that ombudsman is up and running right now. 

    Second is TEQSA, who is the higher education regulator, already has powers in this area, whether it’s to put conditions on universities or to apply to a court to impose fines on universities. There’s an open question about the powers that TEQSA has today and whether they should be changed. That’s something that is being considered right now as part of a broader review of university governance. 

    The other thing I would say is that I don’t intend to look at this report in isolation. But next month the Government will receive a report from the Special Envoy in Combating Islamophobia, and so we wait to see what his recommendations will be. And broader than that, I’ve asked the Race Discrimination Commissioner to conduct a review of racism in our universities. The fact is it exists in our universities in all its ugly forms – ask Indigenous students, ask Islamic students, ask Asian students, ask international students, ask the people who work in our universities of different backgrounds, and they’ll tell you that it is real and that action is needed. 

    Before we consider those recommendations to their final conclusion, I want to look at the recommendations of the Special Envoy on Islamophobia, and I also want to see the work of the Race Discrimination Commissioner. 

    JOURNALIST: Just on that same topic, does that mean you probably won’t expect the Government’s response to those recommendations, including funding, until after those reports come down? And there were also some specific mentions of social media and growing antisemitism amongst young people because of social media. Would you back an awareness campaign or the report’s recommendation of a project to support trusted voices to publicly refute antisemitic views? 

    CLARE: That’s a little outside my portfolio. I’d make the general point that social media plays a role here. It’s not the only reason, but one of the benefits of removing access to social media for young people under the age of 16 might be that less of this poison enters the ears and eyeballs of our young Australians. 

    On your first question, we expect to see that report from the Special Envoy on Islamophobia next month. We’ll get the report from the Race Discrimination Commissioner later this year. But I do think I need to look at all of those reports that might make different recommendations here. I want to tackle racism in whatever form it comes. 

    JOURNALIST: So, it would be a holistic response, not just addressing antisemitism? 

    CLARE: There are recommendations in that report that apply to education. There’s recommendations that apply to other parts of government as well. 

    JOURNALIST: So, it won’t be accepted in full, the recommendations? 

    CLARE: I didn’t say that. Don’t put words in my mouth. 

    JOURNALIST: At the same time, then? 

    CLARE: I’m saying that we’re considering it carefully. We’ve got to consult as part of that. I want to see what the Special Envoy on Islamophobia has to say as well. I think that’s fair. I think that’s the right thing to do. But it’s not just antisemitism and it’s not just Islamophobia – ask Indigenous kids at university today and they’ll say, “well, don’t forget me.” 

    JOURNALIST: So next month we’ll expect – 

    CLARE: Next month, we’ll receive the report from the Special Envoy on Islamophobia. 

    JOURNALIST: And then you’ll hand down – or you’ll say whether you adopt the recommendations? 

    CLARE: Next month we’ll receive the report from the Special Envoy on Islamophobia. Later this year, we’ll get the report from the Race Discrimination Commissioner, which will look at this across the board. 

    JOURNALIST: And I do have just one more on funding and then we can go back to child care. But there have been some comparisons of this funding issue to the Trump administration, what we’ve seen with Harvard and Columbia University. Is that really something that a Labor Government would consider doing – removing funding from a public institution? So, isn’t that kind of a gross overreach, as some people have said? 

    CLARE: I’ll make no comment on that. Have a look at my previous answer. I made the point that TEQSA, the regulator, has powers here already. They’re different in kind to what’s being recommended in this report. But they enable TEQSA to go in and either put conditions on a university or to penalise them, to apply to a court to issue fines. There’s an open question about the role that TEQSA plays here. They’re already playing an important role in helping universities to lift their standards. I mentioned a couple of pieces of work that are ongoing in Government at the moment. There’s a separate piece of work on improving the governance of our universities generally. You would have seen reports today from chancellors, which I welcome, about how do we improve the way in which decisions are made about the remuneration of vice chancellors. That makes sense on its face to me, but that body that’s doing that work about the governance of our universities will present its recommendations to Government in October of this year. 

    JOURNALIST: On that, can I just ask you – this is a bit outlandish – but do you think VCs are overpaid? 

    CLARE: Well –

    JOURNALIST: Given that 

    CLARE: My answer to that is that I think it makes sense – I think it makes a lot of sense, the decisions around the pay of vice-chancellors to be considered by the Remuneration Tribunal. That’s what chancellors have suggested today. When you think about it, public universities are largely funded by public funds. Politicians’ salaries are set by the Remuneration Tribunal. So are the salaries of judges and public servants. But I will wait to see that report, which we’ll get in a couple of months, about reforms to the governance of universities, not just salaries of vice‑chancellors but also what more we need to do in areas of wage theft and making sure that everybody who works in universities are properly paid. And then broader reforms that they’re considering about the councils, the senates, the boards of universities, how they operate, who are represented on them, to make sure that our universities are fit for the future.

    Our universities are incredibly important and they’re going to be more important tomorrow than they are today, just like TAFEs. When I was a kid less than 10 per cent of people had a university degree. Now it’s almost 50 per cent. We know that by the middle of this decade even more kids will go on to uni and more will go on to TAFE, and we’ve got to make sure that our whole tertiary education system is set up for them. And this is part of it. 

    JOURNALIST: Oh, hi Minister Clare, just back to child care, we learned yesterday that accused paedophile Joshua Brown worked at an additional four daycare centres, bringing the total now to 23. My question is: does the casualised nature of the workforce pose risks to children? And how will a centralised system for monitoring workers that you have planned actually work? 

    CLARE: This question gives me an opportunity to talk about the pay rise that’s rolling out for child care workers now. My older cousin has worked in the sector for 30 years. I remember when my eldest was first in child care I said, “how do I pick a good centre?” And she said, “find a place where the team has been there forever. Where they’re permanent and where they love working there and they all know each other, and they all know the kids.” Right. One of the benefits of paying people more is more people want to do the job. And we’ve seen already with the start of the rollout of the 15 per cent pay rise, more people applying to work in the sector and drop in vacancies. That’s going to help with that balance about permanency as well as casual workers. 

    I really do worry that with all of the horror that mums and dads are experiencing that people who work in this sector are just as angry and just as horrified with what they’re seeing and that a lot of people are feeling like there’s a target on their back and that they might not want to work here. We need good people in this sector more than ever, and this pay rise is one part of that. 

    In terms of how the register will work, that’s something that my Department is working with state and territory departments on right now. We’ve agreed that we need to do it. We’re working on the system and how it should work. I talked about setting it up and joining it up. And this will be one of the things that’s considered when education ministers meet for a standalone meeting on child safety next month. 

    JOURNALIST: Can I ask one more question about the Segal recommendations? 

    CLARE: Sure. 

    JOURNALIST: Former Labor Minister Ed Husic today came out and sort of told the Government not to be too heavy-handed, is how he put it, in responding to the antisemitism crisis. Do you have any thoughts on that? And do you think the report enacted in full would be too heavy-handed? 

    CLARE: It may be an opportunity to say that Ed’s a great bloke and he’s one of my best mates, and I take his counsel and advice all the time. And I think you can see from my answer today that this is something that we’re going to give careful consideration to, having a look at it not in isolation but having a look at racism in all its ugly forms across our universities and across our community.

    JOURNALIST: Is this something that you think that federal resources should be used to police, when it comes to universities and how they deal with these things? 

    CLARE: Sorry, Fi, just explain a little. 

    JOURNALIST: Is it – so when we’re talking about universities dealing with antisemitism and other related issues, should federal resources be used to monitor how they’re going with that? 

    CLARE: They already are. They already are. When you think about the decision that I made and that I got states to agree to set up the student ombudsman, it was very much about that. It wasn’t just about that. All of the horrific evidence that came to me when I first got this position about the sexual assault and harassment of particularly female students in our universities, in particular, in student accommodation, made me believe that action was required, and action was taken. And that’s why that ombudsman was set up. 

    That involves, I think more than $50 million dollars of taxpayer money, Commonwealth money, to set that agency up, to set that ombudsman up. And we’ve given that ombudsman real teeth so that when she makes a recommendation universities have to implement it. There’ll be legislation I’ll re-introduce into the parliament around that as well when parliament returns. 

    The investment that we’ve made to ask the Race Discrimination Commissioner to conduct a review into respect at unis, into racism in our universities, I think is evidence that I do believe the Commonwealth has a role here to make sure that our universities are safe places too, that many don’t feel afraid to go to uni. We want more people to want to study at uni. These are places where people study, work and live. They’ve got to be as safe as they possibly can be. There is no place for any type of racism in our country, whether it’s in our unis or anywhere else. 

    JOURNALIST: Dom, anything from you? 

    JOURNALIST: Yes, thank you. Just want to go back to the HECS stuff. 

    CLARE: Sure, mate. 

    JOURNALIST: And ask: with the introduction of the legislation next week, after that, when can we expect the next tranche of university reforms from the Accord? Do you have – is HECS still the focus of that tranche in terms of, you know, how it’s indexed, some other tweaks that can be made, will that be looked at soon? 

    CLARE: Thanks for the question. It’s an opportunity for me to explain in a little bit more detail the bill that will go in next week. 

    Number one, it will cut student debt by 20 per cent, but it will also make structural changes to the way HECS, or student debt operates. It will increase the amount of money you have to earn before you start paying off HECS from 54,000 to I think it’s about $67,000. 

    So, in other words, you don’t start paying off your university degree until your degree starts to pay off for you. And it makes an even more important structural change to the way in which you pay off the debt. It will effectively reduce the amount that you have to pay off each and every year when you’re on a low income. 

    So, the best way to explain that is if you’re on an income of $70,000 today, when this legislation passes it will reduce the minimum amount you have to repay every year by about $1,300. So that’s a real cost of living benefit for a lot of people that are on very modest incomes. 

    JOURNALIST: Just a two-parter then, still on HECS: in terms of has any modelling been done that by raising that people are worse off in the long term? For example, less payments equals more money that then gets indexed each year, so if you don’t reach that threshold, you know, for three more years, you’ve got a higher HECS debt that gets indexed and it kind of compounds? 

    CLARE: Okay, that’s an important opportunity to make the point that this is a minimum repayment. There is nothing that stops or will stop people from making additional repayments if they choose to do so.

    JOURNALIST: And then the indexation – sorry, just to clarify – the indexation I was referring to was how HECS, the money gets taken out every month, but then it gets only subtracted, I think, from the debt at the end of each year, or in June or something like that. So, indexation is applied. 

    CLARE: Okay. 

    JOURNALIST: Is that what you’re looking at as well? Is that part of the next tranche? 

    CLARE: So, in last year’s budget we announced part 1 of our response to the Universities Accord. This is a blueprint for the next decade. It’s a big report with a lot of recommendations. We have implemented now in part or in full about 31 of those recommendations. But over the – in part with the support of the Tertiary Education Commission, which has now been established in an interim reform a week or so ago, we will now look at other recommendations in that report and what the next steps need to be in reforming our higher education system, in making it better and fairer. And in the report, I released today, it touches on some of those things. 

    One of them, which is not the sexiest thing – it won’t make the front page of the paper – but it’s a structural change which is going to be very important is changing the way we fund our universities. That will start from January of next year. And the introduction for the first time ever of real needs-based funding for our universities. 

    Last year I struck agreements with every state and territory to fix the funding of our public schools on a needs-basis, like David Gonski said we should all those years ago. Now we want to apply the same sort of model to our universities, so funding follows the students and more students from disadvantaged backgrounds, from the outer suburbs of our cities, from our regions who need more support to not just start a degree but finish a degree get it. 

    JOURNALIST: And that includes the Jobs Ready Graduate Scheme? 

    CLARE: That’s something we’re asking ATEC to have a look at. All right. Thank you.

    ENDS

    MIL OSI News –

    July 16, 2025

  • MIL-OSI United Kingdom: Free and low-cost things to do in Leeds over the summer holidays

    Source: City of Leeds

    Summer Reading Challenge at Leeds Libraries
    The 2025 Summer Reading Challenge has begun and is a free holiday activity for children aged 4 to 11. It’s all about reading for fun, aiming to improve children’s reading skills and confidence. Children can read anything they like and collect free rewards for their reading, including a bookmark, pop badge and wooden medal. This year’s theme is Story Garden – Adventures in Nature and the Great Outdoors and will inspire children to tap into a world of imagination through reading, exploring the magical connection between storytelling and nature.
    Monday 7 July to Friday 22 August, various library locations, cost: free

    Butterfly Fever at Tropical World
    As part of the Big Butterfly Count 2025 enjoy a special weekend of activities on Saturday 19 and Sunday 20 July, inside the zoo and at the Wildflower Meadows in Roundhay Park (weather permitting). The Butterfly Conservation Yorkshire team will be on site with lots of information on these fascinating creatures. Pick up your free copy of the Butterfly ID chart and head down to the Wildflower Meadow to record the number and type of butterflies you spot in a 15-minute slot – don’t forget to submit your sightings!
    Saturday 19 to Sunday 20 July, cost: included in admission
    Find out more: Big Butterfly Count at Tropical World

    A Lotherton Summer Holiday
    Enjoy all things summer at Lotherton this school holiday. With six weeks of summer fun, including a whole host of children’s entertainment, activities, and a family trail.
    Saturday 19 July to Sunday 31 August, cost: included in admission (some activities at additional cost)
    Find out more: A Lotherton Summer Holiday

    Summer Fun at Temple Newsam Home Farm
    Visit the farm’s adorable animals, rare breed livestock, and take in the stunning landscape of the Temple Newsam Estate. Families can make and take home their own special crafts, explore the exciting interactive trail, it’s fun for all the family. Don’t forget your camera, as there are plenty of photo opportunities!
    Saturday 19 July to Monday 25 August, cost: included in admission
    Find out more: Summer Fun at Temple Newsam Home Farm

    Summer of Fun at Kirkgate Market
    Head to Kirkgate Market throughout the summer holidays for a range of family friendly activities, including arts and crafts, shows, circus school, bumper cars, interactive games, a climbing wall, and roller skating.
    Monday 21 July to Saturday 30 August, cost: free
    Find out more: Summer of Fun at Kirkgate Market

    Deer Tractor Tours at Lotherton
    Experience Lotherton’s herd of red deer up close as you are taken on a tour of the Deer Park in the Lotherton tractor trailer. Learn all about this magnificent species – Britain’s biggest native mammal – and discover the estate from a different viewpoint.
    Monday 21 July to Monday 25 August, cost: £7.50 per person + admission
    Find out more: Deer Tractor Tours at Lotherton

    Stories in the Streets at Abbey House Museum
    Stories from our Story Time exhibition have spilled out into the Victorian Streets! You can find Mrs Tiggywinkle doing her washing, the Hungry Caterpillar munching his way through the grocer’s shop and seagulls eating the Lighthouse Keeper’s lunch. Come along to spot the stories plus a range of trails and crafts to join in for the whole family to work together. Drop-in during normal opening hours. Don’t forget to check out our Story Time exhibition while you’re here, all about children’s books through the ages!
    Wednesday 23 July to Sunday 31 August, cost: included in admission
    Find out more: Stories in the Streets at Abbey House Museum

    Breeze in the Park
    Breeze in the Park is back for 2025! Enjoy interactive play, arts and crafts, games, sports, food and, of course, Breeze’s famous collection of classic inflatables. Coming to a park near you throughout summer.
    Wednesday 23 July to Thursday 21 August, cost: £1 per child. Optional additional activities and food at additional cost. Inflatable fast track and various discounts available with a £5 Breeze Pass.
    Find out more: Breeze in the Park

    Story Garden – Code and Create at Leeds libraries
    To celebrate this year’s Summer Reading Challenge theme, make your own Story Gardens in lots of exciting ways. Join our library team to code robot bees and programme moisture sensors to keep plants hydrated! A free family-friendly event recommended for children aged 7+. All children must be accompanied by an adult.
    Thursday 24 July to Thursday 21 August, various library locations, cost: free
    Find out more: Story Garden – Code and Create at Leeds Libraries

    A Magical Miffy Summer at Leeds City Museum
    Hop down to Leeds City Museum over the summer holidays to experience Miffy summer fun! Take part in sing-along storytimes, make Miffy-inspired wands, experience dazzling magic shows, and design interactive artwork at electric paint and animation workshops. There will also be a pop-up sensory room filled with dark tents, light-up toys, squishy floor tiles, dens and a bubble tube.
    Thursday 24 July to Wednesday 27 August, various times (booking required for some activities – please see website for more details), cost: give what you can
    Find out more: A Magical Miffy Summer at Leeds City Museum

    Steam Toys & Meccano Show at Leeds Industrial Museum
    Marvel at the displays of working steam toys and Meccano from local collectors at this fun and friendly event. Enjoy this annual event from the Friends of Pudsey Roller as enthusiasts and collectors bring in their steam toys and Meccano to share with visitors. There will also be a pop-up cafe selling delicious treats and raising funds for the Pudsey Roller.
    Sunday 27 July, 12pm to 4pm, cost: included in admission
    Find out more: Steam Toys & Meccano Show at Leeds Industrial Museum

    Pot a Plant at Temple Newsam
    Head to the Walled Garden, where a friendly team will help you to pot up a stunning Coleus plant from the estate’s national collection to take home! Coleus are known for their striking, multicoloured foliage, and can thrive in both sun and shade, making them a versatile choice for any growing space.
    Wednesday 30 July, 1pm to 3pm, cost: £3 per plant (booking essential)
    Find out more: Pot a Plant at Temple Newsam

    Tooth and Claw Workshop at Leeds Discovery Centre
    Discover the animal skulls in the Natural Science collection and learn about how some have adapted teeth and claws to find food. Get up close and personal to the claws and teeth in our collection! Why are they that big? Why are they that sharp?! Join us for a family workshop and tour of our amazing collection store.
    Wednesday 30 July, 10am to 12pm, cost: give what you can
    Find out more: Tooth and Claw Workshop at Leeds Discovery Centre

    Mystery Matinees at Leeds Industrial Museum
    Enjoy a family film in the museum’s cosy, 1920s-style Palace Picture House. Please note, the museum is closed on Mondays.
    Tuesday 5 August to Sunday 31 August, cost: included in admission
    Find out more: Mystery Matinees at Leeds Industrial Museum

    Crafty in the Cloister at Kirkstall Abbey
    Take part in craft activities in the heart of the Abbey – the cloister. Every Thursday afternoon there will be new craft and colouring activities, reflecting on the nature in the abbey. The Cloister is the central courtyard in the abbey that served as a quiet area, surrounded by covered walkways to minimise noise and disruption. A quiet and meditative space for the Cistercian monks.
    Thursday 7, 14, 21, 28 August, 2pm to 4pm, cost: give what you can
    Find out more: Crafty in the Cloister at Kirkstall Abbey

    Fladam presents…Green Fingers at Leeds libraries
    It’s Green Fingers’ first day at school, and so far nobody has spotted his bright green hands. But then… GOO! GUNK! GLOOP! What a mess! Why are they suddenly misbehaving? It doesn’t help that heinous headmaster Mr Marigold despises anything dirty… but is something magical going on? Maybe the answers can be found in the mysterious school garden? A family-friendly show recommended for children aged 3+. All children must be accompanied by an adult.
    Tuesday 12 August to Thursday 21 August, various library locations, cost: give what you can
    Find out more: Fladam presents…Green Fingers at Leeds libraries

    Taxidermied! Workshop at Leeds Discovery Centre

    Join a Natural Science curator to look at how animals are taxidermied and preserved, and get up close to our animal collections. How are our animal collections preserved? Learn about taxidermy and the preservation of animals, and how they can contribute to the understanding of animals. After a tour in our store, we’ll be creating a shoebox scene of your own to take home.
    Wednesday 13 August, 10am to 12pm, cost: give what you can
    Find out more: Taxidermied! Workshop at Leeds Discovery Centre

    Pattern Making Poetry at Leeds Art Gallery
    Creative family fun session with artist Kalisha Piper Cheddie. Use drawing and collage to make patterns on long pieces of paper that will be hung on the large walls in Central Court on the first floor of the gallery. While you’re there, take some time to find out more about Lynette Yiadom-Boakye’s favourite music and poetry that inspired her exhibition, To Improvise a Mountain: Lynette Yiadom-Boakye Curates. Drop-in, no need to book.
    Tuesday 19, Wednesday 20, Thursday 21 August, 11am to 3pm, cost: give what you can
    Find out more: Pattern Making Poetry at Leeds Art Gallery

    The Child Friendly Leeds 12 wishes represent the voices of 80,000 children and young people in Leeds. Working towards these wishes makes Leeds a better city for children to grow up in. This article is in support of Child Friendly Leeds Wish 7: Children and young people know about different things to do and places to go across the city. They enjoy different cultural experiences including art, music, sport and film. Read the full wish and find out more: https://wearechildfriendlyleeds.com/wish-7-things-to-do/ Child Friendly Leeds also have a great guide full of even more things to do in Leeds over summer. Take a look at their summer activities guide here.

    MIL OSI United Kingdom –

    July 16, 2025

  • MIL-OSI Russia: Israel strikes Syrian forces in As-Suwayda

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    JERUSALEM, July 16 (Xinhua) — Israeli Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz said on Tuesday they had ordered the military to strike Syrian forces in Syria’s southern province of As-Suwayda, claiming to protect the local Druze population.

    The move came shortly after Defense Minister Murhaf Abu Qasra announced a ceasefire in As-Suwayda after Syrian forces entered the area.

    In a joint statement, Netanyahu and Katz said they had ordered the military to “immediately strike” Syrian forces and weapons in the area to “prevent the Syrian regime from harming” the Druze because of their “deep fraternal alliance with the Druze citizens of Israel and their family and historical ties to the Druze in Syria.”

    The Israeli military said in a separate statement that it had targeted Syrian armored vehicles and rocket launchers. It said that columns of armored vehicles and tanks heading toward As-Suwayda were identified on Monday evening and their routes were also targeted in an effort to prevent them from reaching the area.

    The military added that they continue to monitor developments and are prepared for defense and various scenarios. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

    July 16, 2025
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