Category: Banking

  • MIL-OSI Australia: Allens advises Zenith on $1.9 billion refinancing

    Source: Allens Insights

    Allens has advised Zenith Energy on its $1.9 billion refinancing and increase to its existing bank debt facilities, providing more than $1 billion in growth capital to support the development of new projects.

    The refinancing, backed by a syndicate of 14 Australian and international lenders, provides growth funding to support Zenith’s financial capacity as it expands its role in delivering renewable and hybrid power solutions. A portion of the transaction includes green loan facilities structured under Zenith’s Green Finance Framework, aligning with the Asia Pacific Loan Market Association’s Green Loan Principles.

    ‘We congratulate Zenith and the financiers on this significant transaction, which supports Zenith’s ability to capitalise on the opportunities of the energy transition. This refinancing highlights the strong market confidence in Zenith’s strategy and the role it plays in enabling decarbonisation in the resources sector. We are very pleased to continue our long standing relation with Zenith and to be able to support it into the future,’ said partner Rod Aldus.

    Allens legal team

    Banking & Finance

    Rod Aldus (Partner), Michael Ryan (Partner), Tania Joppich (Senior Associate), Bronte Barber (Lawyer)

    MIL OSI News

  • MIL-OSI Economics: Money Market Operations as on February 28, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 6,261.85 6.33 5.25-6.80
         I. Call Money 1,111.65 6.18 5.25-6.40
         II. Triparty Repo 3,591.00 6.34 5.85-6.80
         III. Market Repo 0.00
         IV. Repo in Corporate Bond 1,559.20 6.41 6.40-6.45
    B. Term Segment      
         I. Notice Money** 17,236.23 6.38 5.15-6.65
         II. Term Money@@ 654.00 6.15-8.10
         III. Triparty Repo 3,64,113.35 6.28 6.10-6.80
         IV. Market Repo 1,50,239.19 6.30 6.00-7.31
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 28/02/2025 3 Mon, 03/03/2025 16,258.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Fri, 28/02/2025 1 Sat, 01/03/2025 8,103.00 6.50
      Fri, 28/02/2025 2 Sun, 02/03/2025 0.00 6.50
      Fri, 28/02/2025 3 Mon, 03/03/2025 840.00 6.50
    4. SDFΔ# Fri, 28/02/2025 1 Sat, 01/03/2025 88,267.00 6.00
      Fri, 28/02/2025 2 Sun, 02/03/2025 0.00 6.00
      Fri, 28/02/2025 3 Mon, 03/03/2025 8,971.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -72,037.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 21/02/2025 14 Fri, 07/03/2025 41,046.00 6.26
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       9,095.71  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,33,105.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,61,068.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 28, 2025 9,33,991.34  
         (ii) Average daily cash reserve requirement for the fortnight ending March 07, 2025 9,22,740.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 28, 2025 16,258.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on February 07, 2025 -1,973.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2013 dated January 27, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2286

    MIL OSI Economics

  • MIL-OSI Australia: We must not risk going backwards on racism

    Source: Australian Human Rights Commission

    Nearly every day, my phone buzzes with messages of distress: community leaders, faith groups, families and individuals from all walks of life, each carrying the weight of racism’s impact.

    A mother fearful for her child’s safety calls after yet another racial slur at school. A faith leader grapples with hate targeting their congregation. A teacher gets in touch because they confront racism daily.

    The stories are different, but the pain is the same – frustration, exhaustion, asking what can be done. The hard-fought progress that we have made towards equality is being challenged before our eyes and we cannot risk going backwards.

    Bearing witness to what many others do not see, and supporting those affected, is a responsibility I do not take lightly. I cannot do it alone, however. Everyone has a role to play.

    Last week, a Jewish doctor emailed me asking how we can stop anti-Semitism after the confronting video of two nurses in Bankstown saying they would kill Israeli patients. The tone in his email was urgent. He was concerned for the safety of Jewish healthcare workers and patients.

    In his email, he focused on the need for education and building an understanding of racism, but I could feel his frustration.

    In the weeks prior, a Muslim woman sent me messages about white supremacists letterboxing in Adelaide. She sent me screenshots of the abhorrent leaflets and asked what I could do to get police to take the matter more seriously. Again, frustration.

    The weeks before that, it was messages from members of the Indian community, sending me videos of racism towards Indian fans at the cricket. Bewildered, they also asked me what could be done.

    Each reflect a system failure that enables racism: a health system where staff and patients feel unsafe; a justice system that is focused on criminalising offences after the harm is done, rather than early community-led prevention; a sporting sector that cannot protect victims of racism.

    The thing about systems is that they can be fixed, when we know how to diagnose the problem.

    For those who are unfamiliar with racism, it is easier to imagine its more overt forms. People are familiar with the racist uncle you see once a year, or the one racist person at work whom your colleagues tolerate because they’re part of the furniture.

    The reason why it’s easy to imagine this form of racism is because it is easy to separate ourselves from it. We tell ourselves we do not do that and we move on.

    For those who are familiar with systemic racism, we know that it is everywhere. Many of the examples I hear sit with me long afterwards.

    One was of a Palestinian child whose picture of a Palestinian flag was thrown in the bin by their teacher. Another was of an African-born mother whose son was told that he could not walk onstage to accept his first ever academic award because his hairstyle didn’t conform to school standards.

    When his mother raised it with the all-white school executive and administration, she was dismissed and told rules must be upheld. She was persistent, however, and produced photos of white kids with much longer hair who were allowed onstage. Eventually, the school conceded it was wrong, but the damage had been done.

    At no point in this story is there name-calling or the hurling of abuse. The school claimed it was applying the rules equally to everyone. Yet it is another example of the pervasive nature of systemic racism and the way it operates.

    African hair did not fit the school rules, and without the courage and resilience of an African mother nothing would have happened. The burden to challenge racism falls too greatly on its victims.

    Late last year I launched the Australian Human Rights Commission’s National Anti-Racism Framework. The framework comes at a time when race is on the front page of our newspapers every other day. Anti-Semitism, anti-Arab racism, anti-Palestinian racism and Islamophobia are on the rise, with disgusting displays of hate and racist violence becoming more frequent across communities.

    In this climate, I cannot think of a more pressing need for a national approach to ending racism. Solutions to systemic racism are in everyone’s best interest. A society where everyone can flourish benefits us all.

    Systemic racism is like cancer. The tumours can be removed, but the cancer will keep making us sick until we confront its source.

    It is an illness that began 237 years ago. As Stan Grant wrote, “Racism isn’t killing the Australian dream. The Australian dream was founded on racism.”

    When I meet with First Nations communities, one of the common threads among the conversations is that colonisation is not just a date in history but an ongoing reality. It has impacted every institution and informed every dominant way of thinking since 1788.

    So, when we talk about systemic racism in Australia, we are talking about systems that have been built to advance the interests of colonising white settlers. These systems don’t consider or protect the interests of First Nations people and others who experience racism.

    Our education system is built for white knowledge and our workplaces elevate white people into leadership by default. This is not just a mere inconvenience for people who experience racism – these systems cause harm to communities, so that those who benefit can thrive.

    We only need look at the over-imprisonment and harm experienced by First Nations people within our legal system for an example of the systemic bias baked into our society.

    To say, then, that it can be disheartening when my bid to call out systemic racism falls flat is an understatement.

    Recently I’ve even been asked why I’m so focused on race when we’re facing serious levels of economic and class inequality, which can also impact white people. For those who feel the harms of racism, however, these issues are deeply intertwined.

    Migrant workers of colour have become even more vulnerable to exploitation in order to keep their jobs. Worse, economic inequality is exploited by racist rhetoric that blames migration for what are far more complex and deeply entrenched problems.

    When migrants are blamed, too often the only signal as to whether someone is a migrant is the colour of their skin. Race compounds the inequality experienced in hard times and is vital to consider when we chart the way forward.

    The commission’s National Anti-Racism Framework has 63 recommendations for eliminating racism. They span government, education, healthcare, justice, workplaces and the media.

    The framework calls for a hard look at the composite parts of our nation. We need to examine the insidious way in which racism has made its nest in almost every facet of Australian life. Then we need to deploy our tools: law reform, new policies, relevant training and whatever else is needed to dismantle racism at its roots.

    In education, this means making the need for anti-racist education explicit in curriculums from early childhood through to our tertiary institutions. In healthcare, this means partnerships and shared decision-making with at-risk communities, so that those who are most harmed by racism in our healthcare system have a stronger, louder voice.

    Online, it means better regulation of racist hate. It means a more coordinated anti-racist approach to collecting data on racism.

    Across sectors, we have also outlined the need to deepen our understanding of how racism continues to be upheld, with a mandate to prevent and eliminate these vicious cycles. We’ve highlighted that listening to and valuing the leadership of First Nations people is essential to this work.

    We are at a critical juncture where race and racism need to go from “too hard” to actionable, durable solutions. The longer we leave things to fester, the more severe the outcome. It is our collective responsibility to act now and do more.

    Racism is estimated to cost the Australian economy $37 billion each year. It would cost a fraction of that to implement the recommendations put forward in the National Anti-Racism Framework.

    It is not good enough to expect those who are most affected by racism to be responsible for calling out and addressing racism in their schools, at work and in the community at large. We need a more preventive, systemic response.

    Many people came forward as we developed the framework to share the ways racism has diminished them, and to offer their solutions for change. We all deserve to live without fear and with dignity.

    Our next step in the journey must be one that results in a fairer and more equitable society that allows us all to be our whole selves. A united commitment will lay the foundations for a safer future where everyone can thrive free from the damaging impacts of racism.

    We need our leaders in politics, civil society and business to be brave. They’ve been handed a road map. It’s time for the rubber to hit the road.

    This article was first published in the print edition of The Saturday Paper on March 1, 2025 as “How to fight racism”.

    MIL OSI News

  • MIL-OSI Economics: African Development Bank reiterates commitment to bold action on energy and climate finance at 2025 Finance in Common Summit

    Source: African Development Bank Group

    Energy access and sustainable finance took center stage at the 2025 Finance in Common Summit, where two roundtable discussions addressed critical financing gaps and highlighted pathways to achieving universal energy access in Africa. 

    During the discussions, the African Development Bank reiterated its commitment to unlocking investment for Africa’s energy future and scaling climate financing as part of its recently-launch Mission 300 initiative, in anticipation of COP30.

    With 600 million people in Sub-Saharan Africa still without electricity, the urgency of addressing energy access cannot be overstated. The first roundtable convened Local Finance Institutions (LFIs), national and local governments, utilities, and private sector leaders to explore solutions to financing constraints. Participants shared best practices, tackled investment bottlenecks, and discussed innovative de-risking mechanisms for energy projects.

    “LFIs are the lifeblood of our economies, possessing a unique understanding of local contexts, needs, and opportunities,” noted African Development Bank Vice President, Nnenna Nwabufo, who moderated the session. “They are essential for mobilizing the necessary capital, fostering local entrepreneurship, and scaling sustainable energy projects.”

    While significant progress has been made in expanding energy access across Africa, major challenges remain. In January 2025, the Mission 300 Energy Summit generated strong political momentum, with 48 African Heads of State committing to accelerating policy reforms, and 12 countries presenting National Energy Compacts outlining clear targets for energy access.

    Backed by the World Bank, the African Development Bank and other development partners, Mission 300  aims to provide  300 million Africans with electricity access by 2030. “This ambitious goal is within reach, but it demands concerted action, innovative financing solutions, and strong partnerships,” emphasized Nwabufo.

    However, financing remains a major bottleneck, particularly for last-mile connectivity and off-grid solutions. Public development banks and local finance institutions play a pivotal role in mobilizing the estimated $170 billion needed to achieve universal access. “Traditional financing models often fall short in meeting the specific needs of local communities and small-scale energy projects…this is where LFIs, with their local expertise, can make a transformative difference,” Nwabufo added.

    Private funds such as the Gaia Energy Impact, a venture capital firm dedicated to renewable energy, are crucial for financing early-stage innovation and making projects investment-ready to attract more capital. “However, de-risking tools provided by public institutions, such as concessional funding, blended finance and guarantees, play a major role in leveraging private capital,” explained Hélène Demaegdt, President and Founder, of the impact fund.

    A united vision for the future of energy access

    The second roundtable shifted focus to Latin America and the Caribbean (LAC), where development banks have been at the forefront of climate finance. Experts from sovereign wealth funds, vertical funds, and private investors joined key institutional players to explore pathways for scaling sustainable financing.

    With COP30 on the horizon, panelists emphasized the importance of a robust taxonomy to attract global capital. Brazil’s pioneering efforts—through initiatives like the Brazil Climate and Ecological Transformation Investment Platform (BIP) and Eco Invest Brazil—served as a model for emerging markets.

    “As we move to COP30 we are committed to doubling down on looking at all sources of revenues and pulling all levers,” said Tatiana Rosito, Secretary for International Affairs for Brazil’s Ministry of Finance.

    Discussions reinforced the necessity of blended finance models, philanthropic support, and sovereign wealth funds to bridge the climate adaptation and mitigation financing gap. The session set the stage for deeper engagements leading up to COP30, ensuring that emerging markets secure the capital needed for a just energy transition.

    “COP30 will be a defining moment for Africa and the world. We cannot afford another cycle of pledges without action,” insisted Nwabufo.

    “This needs to be an accountability COP,” echoed Mafalda Duarte, Executive Director of the Green Climate Fund. “We need less big announcements but more giving a sense of trust and confidence that we will focus deliberately on critical partnerships, implementation and results.”

    Duarte also emphasized the need to broaden the investor base beyond multilateral development banks. “We know that the private investors are not doing as much as they could and should, so should be included as part of a more integrated narrative.”

    “We must demonstrate that finance will not remain a barrier to Africa’s sustainable future but a catalyst for shared prosperity. It is not just about securing financing for Africa’s climate goals; it is about demonstrating that investing in Africa’s climate resilience is smart economics, benefitting both Africa and the global economy,” Nwabufo affirmed.

    MIL OSI Economics

  • MIL-Evening Report: Labor gains in Redbridge poll of marginal seats and seizes lead in a Morgan poll

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

    A poll of 20 marginal seats by Redbridge and Accent Research was conducted for the News Ltd tabloids on February 20–25, from a sample presumably over 1,000. The Coalition led by 50.5–49.5, a 1.5-point gain for Labor since the February 4–11 marginals poll.

    Labor won the 2022 election by 52–48 and won the marginal seats polled by 51–49, implying a 1.5-point swing to the Coalition across these seats since the last election. If this poll were applied nationally, it suggests a Labor lead of 50.5–49.5.

    Primary votes were 41% Coalition (down two), 34% Labor (up one), 12% Greens (steady) and 13% for all Others (up one). Anthony Albanese’s net favourability was up five points to -11 while Peter Dutton’s was down two to -13. By 50–33, voters thought things were headed in the wrong direction (55–27 previously).

    While Labor improved overall in this poll, their position in the Victorian seats polled was dire, with an 8.4% two-party swing to the Coalition across the first two waves of this poll. State Labor is dragging down federal Labor.

    Labor gains lead in Morgan poll

    A national Morgan poll, conducted February 17–23 from a sample of 1,666, gave Labor a 51–49 lead by headline respondent preferences, a 2.5-point gain for Labor since the February 10–16 poll. This poll contrasted with the Resolve poll taken February 18–23 that gave the Coalition a 55–45 lead.

    Primary votes were 36.5% Coalition (down three), 31.5% Labor (up 3.5), 13.5% Greens (up one), 5% One Nation (down 0.5), 10% independents (steady) and 3.5% others (down one). By 2022 election preference flows, Labor led by 53–47, a four-point gain for Labor.

    By 49.5–34.5, voters said the country was going in the wrong direction (52.5–32.5 previously). The 15-point lead for wrong was the lowest since January 2024. Morgan’s consumer confidence measure jumped 4.7 points to 89.8.

    The Morgan poll and the Redbridge marginal seats poll both suggest movement to Labor since the Reserve Bank reduced interest rates on February 18. While the Coalition retained a narrow lead in YouGov, the primary votes implied a little movement to Labor.

    The graph below shows Labor’s two-party estimated vote in national polls, so the Redbridge marginals poll is excluded.

    Labor has not recovered the lead in a polling average, but the latest polls are far better for them than the Resolve poll last week.

    Coalition narrowly ahead in YouGov poll

    A national YouGov poll, conducted February 21–27 from a sample of 1,501, gave the Coalition a 51–49 lead by preference flows from YouGov’s MRP polls, in which Greens and One Nation preferences are both weaker for Labor than at the 2022 election. There was no change from YouGov’s last MRP poll, conducted from late January to mid-February.

    Primary votes were 37% Coalition (steady since the MRP poll), 28% Labor (down one), 14% Greens (up one), 8% One Nation (down one), 1% for Clive Palmer’s Trumpet of Patriots, 10% independents (up one) and 2% others (down one). By 2022 election preference flows, Labor would lead by about 50.5–49.5, a 0.5-point gain for Labor.

    Albanese’s net approval was up three points since YouGov’s last non-MRP poll in January to -12, with 52% dissatisfied and 40% satisfied. Dutton’s net approval was up four points to -2. Albanese led Dutton as better PM by 42–40 (44–40 previously).

    By 60–8, voters supported the government operating the Whyalla steelworks through a publicly owned company if no suitable private investor was found.

    Additional Resolve questions and seat polls

    The Resolve poll for Nine newspapers asked whether Donald Trump’s policies should be applied to Australia. Question wording has an impact: for example, “cutting waste from the public service” is a pro-Trump framing. A question that asked whether Australians approved or disapproved of Trump’s performance as US president would be preferable.

    In past elections, seat polls have been unreliable. The Poll Bludger reported last Wednesday that three polls of Western Australian federal seats had been conducted by JWS Research for Australian Energy Producers from a combined sample of 2,529.

    In Curtin, held by teal independent Kate Chaney, the Liberals held a huge primary vote lead of 56–28 over Chaney. In Bullwinkel, a new federal WA seat that is notionally Labor, Labnr’s primary vote had slumped 21 points to 15%, putting them in third place behind the Nationals and Liberals. However, there were only modest primary vote swings in Tangney, with Labor looking competitive to hold.

    There were also two uComms NSW federal seat polls. In Wentworth, held by teal independent Allegra Spender, Spender held a 57.2–42.8 lead over the Liberals. This poll was taken for Climate 200 on February 12 from a sample of 1,068. In Labor-held Gilmore, the Liberals led by 52.8–47.2. This poll was taken for the Australian Forest Products Association February 17–20 from a sample of 684.

    NSW Resolve poll: Labor’s primary vote slumps

    A New South Wales state Resolve poll for The Sydney Morning Herald, conducted with the federal January and February Resolve polls from a sample of over 1,000, gave the Coalition 38% of the primary vote (up one since December), Labor 29% (down four), the Greens 14% (up three), independents 11% (down two) and others 8% (up one).

    No two-party estimate was reported, but The Poll Bludger estimated a Coalition lead of about 51–49 from these primary votes. Labor incumbent Chris Minns led Liberal Mark Speakman by 35–14 as preferred premier (35–17 in December).

    On the rail dispute between the NSW government and the train union, 43% wanted the government to negotiate a better deal with the union, 26% wanted the government to refuse the union’s demands and 16% thought they should agree to the union’s demands in full.

    EMRS Tasmanian poll has little change

    An EMRS Tasmanian state poll, conducted February 11–18 from a sample of 1,000, gave the Liberals 34% of the vote (down one since November), Labor 30% (down one), the Greens 13% (down one), the Jacqui Lambie Network 8% (up two), independents 12% (up one) and others 3% (steady). Tasmania uses a proportional system, so a two-party estimate is inapplicable.

    Liberal Premier Jeremy Rockliff’s net favourability dropped five points to +10, while Labor leader Dean Winter was down eight to +6. Rockliff led Winter by 44–34 as preferred premier (43–37 in November).

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

    ref. Labor gains in Redbridge poll of marginal seats and seizes lead in a Morgan poll – https://theconversation.com/labor-gains-in-redbridge-poll-of-marginal-seats-and-seizes-lead-in-a-morgan-poll-250614

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: China signals stronger financial support for private enterprises

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

    China’s central bank, together with other top financial regulators, convened a high-level symposium on Friday to discuss measures for boosting private enterprise development, which analysts said signaled bigger steps in facilitating the financing of private enterprises as their role in innovation becomes increasingly significant.

    Jointly convened by the People’s Bank of China, All-China Federation of Industry and Commerce, National Financial Regulatory Administration, China Securities Regulatory Commission and State Administration of Foreign Exchange, the symposium stressed supporting private businesses as an inherent priority for financial services and a manifestation of upholding the political and people-centered nature of financial work.

    “We will proactively strengthen policy frameworks, enhance supervision and implementation and provide strong financial support for the healthy development of the private economy, helping private enterprises grow stronger, better and bigger,” said a meeting statement released by the PBOC on Sunday.

    Analysts said it is not the first time for the PBOC to convene symposiums on supporting private enterprises, with similar meetings in 2018 and 2023. However, Friday’s meeting features a wide participation by various financial authorities, indicating that all-out, coordinated efforts to strengthen financial support for private enterprises are underway.

    “The joint meeting reflects the central government’s strong commitment to fostering private sector growth,” said Yang Weiyong, an associate professor at the University of International Business and Economics, expecting significant financial measures, including expanded lending for private enterprises.

    The meeting called for a solid implementation of an accommodative monetary policy, a good use of structural monetary policy tools, increased credit access for private and small businesses and equal treatment of all ownership types by financial institutions.

    Specific measures stressed at the symposium include a full implementation a previously-launched 25-point plan to strengthen financial support for the private economy, improvements to credit enhancement systems for smaller businesses and accelerated rollout of supply chain finance regulations.

    The meeting also emphasized strengthening bond market innovation, reaffirming boosting private enterprise financing through capital markets, including support for tech-driven firms, mergers and acquisitions and industrial upgrades.

    Attendants of the meeting also included leaders from fashion and apparel company EVE Group, automotive company Geely Holding Group, artificial intelligence company SenseTime, express delivery company YTO Express and dairy company Yili Group.

    Lou Feipeng, a researcher at Postal Savings Bank of China, emphasized the need for stronger financial support for the private sector, particularly as the latest wave of technological revolution continues to advance.

    “Private and small businesses, known for their flexible structures, play a crucial role in driving technological innovation,” Lou said.

    In terms of direct financing, eligible private enterprises should be supported in raising funds through bond issuance and IPOs, he said. On the indirect financing front, banks should improve first-time loan services for private bushiness, expand access to credit-based lending, implement loan renewals without principal repayment and develop supply chain finance.

    Data from the National Bureau of Statistics showed on Saturday that the purchasing managers index for the manufacturing sector — where private enterprises play a significant role — came in at 50.2, standing above the 50-mark that separates expansion from contraction and up from 49.1 in January.

    MIL OSI China News

  • MIL-OSI New Zealand: Economy – RBNZ Stats Alert Business Expectations Survey: Concluding development update ahead of regular publication

    Source: Reserve Bank of New Zealand

    3 March 2025 – We would like to thank all the businesses taking part in the development of the new Tara-ā-Umanga Business Expectations Survey as we build a representative sample survey of New Zealand businesses.

    Following a successful development phase, we plan to commence ongoing quarterly publication in mid-May 2025 (for the June quarter) in advance of the 28 May Monetary Policy Statement, in line with the timing of our other expectation surveys.

    This new survey includes several hundred businesses from different sectors around the country, from small to large firms. It is separate from the existing Survey of Expectations including expert forecasters and economists, and industry leaders (Table M14, 1987 – onwards), which will continue.

    Business Expectations Survey, final testing:

    We completed our development of Tara-ā-Umanga Business Expectations Survey with a fourth pilot survey in January 2025. The testing phase has allowed us to test the survey methodology over multiple waves, build the sample size over time, and creates a one-year span of quarterly data. A public consultation on the survey was undertaken during March 2024.

    Tara-ā-Umanga Business Expectations Survey: Concluding development update outlines our lessons learnt from the latest testing activities and resulting design decisions.

    The achieved sample size has built to 389 responding businesses in pilot 4 (383 in pilot 3, 251 in pilot 2 and 68 in pilot 1).
    We maintained consistent design decisions and survey weighting methods from pilot 3. Additional data analysis, using pilot 4 data, provides confidence that these choices are suitable for a high-quality ongoing survey. (ref. https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1c3701d2d8&e=f3c68946f8 )

    While the pilot survey results are experimental, the new series are already demonstrating the value of a large representative sample survey. For example, by facilitating estimates of expectations broken down by business size and industry. It should be noted that while this survey represents a significant uplift in our expectations data, more observations are needed to enable us to estimate the relationship between these data and ultimate inflation outcomes.

    Background information

    Inflation expectations are important because households and businesses reflect their expectations in their price- and wage-setting decisions. Improving the quality of our expectation surveys is part of the wider response to our 2022 review of how we formulate and implement our monetary policy. In this review, we identified several areas where better data could support high quality monetary policy decision-making.

    For further information please see Tara-ā-Umanga Business Expectations Survey: Survey design and development: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=84645fcafe&e=f3c68946f8

    For the latest Monetary Policy Statement see Monetary Policy Statement February 2025: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=81002ac320&e=f3c68946f8

    MIL OSI New Zealand News

  • MIL-Evening Report: Hamas accuses Israel of ‘blackmail’ over aid, demands end of US support for Netanyahu

    Asia Pacific Report

    The Palestinian resistance group Hamas has accused Israel of “blackmail” over aid and urged the US government to act more like a neutral mediator in the ceasefire process.

    “We call on the US administration to stop its bias and alignment with the fascist plans of the war criminal Netanyahu, which target our people and their existence on their land,” Hamas said in a statement.

    “We affirm that all projects and plans that bypass our people and their established rights on their land, self-determination, and liberation from occupation are destined for failure and defeat.

    “We reaffirm our commitment to implementing the signed agreement in its three stages, and we have repeatedly announced our readiness to start negotiations on the second stage of the agreement,” it said.

    Al Jazeera Arabic reports that Israel sought a dramatic change to the terms of the ceasefire agreement with a demand that Hamas release five living captives and 10 bodies of dead captives in exchange for Palestinian prisoners and increased aid to the Gaza Strip.

    It also sought to extend the first phase of the ceasefire by a week.

    Hamas informed the mediators that it rejected the Israeli proposal and considered it a violation of what was agreed upon in the ceasefire.

    Israel suspends humanitarian aid
    In response, Israel suspended the entry of humanitarian aid until further notice and Hamas claimed Tel Aviv “bears responsibility” for the fate of the 59 Israelis still held in the Gaza Strip.

    Reports said Israeli attacks in Gaza on Sunday have killed at least four people and injured five people, according to medical sources.

    “The occupation [Israel] bears responsibility for the consequences of its decision on the population of the Strip and for the fate of its prisoners,” Hamas spokesman Hazem Qassem said in a statement.

    Hamas denounces blackmail headline on Al Jazeera news. Image: AJ screenshot APR

    Under the agreed ceasefire, the second phase of the truce was intended to see the release of the remaining captives, the full withdrawal of Israeli troops from Gaza and a final end to the war.

    However, the talks on how to carry out the second phase never began, and Israel said all its captives must be returned for fighting to stop.

    In an interview with Al Jazeera, an analyst said that although the fragile ceasefire seemed on the brink of collapse, it was unlikely that US President Donald Trump would allow it to fail.

    “I think the larger picture here is Trump is not interested in the resumption of war,” said Sami al-Arian, professor of public affairs at Istanbul Zaim University.

    “He has a very long agenda domestically and internationally and if it is going to be dragged by Netanyahu and his fascist partners into another war of genocide with no strategic end, he knows this is going to be a no-win for him.

    “And for one thing, Trump hates to lose.”

    No game plan
    In another interview, Israeli political commentator Ori Goldberg told Al Jazeera that Prime Minister Benjamin Netanyahu was caught between seeing the Gaza ceasefire through and resorting to a costly all-out war that may prove unpopular at home.

    “I’m not sure Netanyahu has a game plan,” Goldberg said.

    “The reason he hasn’t made a decision is because . . . Israel is not equipped to go to war right now. Resilience is at an all-time low. Resources are at an all-time low.”

    War crimes . . . a poster at a New Zealand pro-Palestinian rally in Auckland on Saturday. Image: Asia Pacific Report

    In December, the UN agency for Palestinian refugees reported that more than 19,000 children had been hospitalised for acute malnutrition in four months.

    In the first full year of the war — ending in October 2024 — 37 children died from malnutrition or dehydration.

    Last September 21, The International Criminal Court (ICC) said there was reason to believe Israel was using “starvation as a method of warfare” when it issued arrest warrants for Netanyahu and former Defence Minister Yoav Gallant.

    United Nations Secretary-General Antonio Guterres said all efforts must be made to prevent a return to hostilities, which would be catastrophic.

    He urged all parties to exercise maximum restraint and find a way forward on the next phase.

    Guterres also called for an urgent de-escalation of the violence in the occupied West Bank.

    Almost 50,000 Palestinians have been killed in the Israeli war on Gaza since 7 October 2023.

    New Zealand protesters warn against a “nuclear winter” in a pro-Palestinian rally in Auckland on Saturday. Image: Asia Pacific Report

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Nokia and industry partners accelerate AI-RAN development #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and industry partners accelerate AI-RAN development #MWC25 

    • Nokia’s ecosystem of industry partnerships is driving advancements in AI-RAN architecture and the deployment and optimization of AI-powered Radio Access Networks.
    • Collaboration helps lay the foundations for platform-as-a-service business models for operators offering scalable computing infrastructure and capabilities for AI and other services in addition to connectivity.
    • Nokia opens AI-RAN Center in Dallas, U.S to accelerate development of AI-RAN with partners.
    • AI-RAN will have a transformative impact on the future of telecommunications infrastructure and services.

    2 March 2025
    Espoo, Finland – At Mobile World Congress 2025, Nokia and its ecosystem of industry partners, KDDI, SoftBank Corp., T-Mobile US, and NVIDIA today outlined the advances made in the deployment and optimization of revolutionary AI-powered Radio Access Networks (RAN) as well as the future architecture for AI-RAN. These joint efforts will lay the foundations for developing platform-as-a-service (PaaS) business models for CSPs, which helps them unlock new monetization opportunities by offering scalable computing infrastructure and capabilities for processing AI and other services. Under its anyRAN approach, Nokia is evolving Cloud RAN solutions to include AI computing in the shared infrastructure to maximize resource efficiency for operators.

    Nokia has taken a leadership role in exploring how AI will transform the future of telecommunications infrastructure and services. To accelerate the innovation and development of AI-RAN, Nokia is establishing an AI-RAN Center at its offices in Dallas, U.S. The center will enable Nokia’s partners to develop and test AI-RAN solutions in real-world network conditions with a focus on creating innovative use cases, prototypes, and to validate AI-RAN reference architecture. Nokia is also working with its industry partners across a range of initiatives including:

    Nokia and NVIDIA
    Over the past year, Nokia has worked closely with NVIDIA to assess and evaluate multi-purpose NVIDIA accelerated computing infrastructure to enable the transformative power of AI-RAN.

    Nokia and KDDI
    Nokia has also formed a strategic partnership with KDDI to research the practical applications of AI-RAN, including use cases and architectures, to make it commercially viable in the future. The companies will explore how AI applications can enhance the user experience, enhance network quality, reduce 5G network-related costs and power consumption through automation, and create monetization opportunities that leverage GPUs and Generative AI. The companies will conduct a commercial trial using AI-enabled RAN hardware and research AI utilization to optimize network performance.

    Nokia and SoftBank
    Nokia and SoftBank’s innovative partnership has successfully showcased the powerful integration of multi-purpose, optimized AI workloads within the AI and RAN platform based on Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes. This is managed through Nokia’s MantaRay NM solution for network management and SoftBank’s AITRAS Orchestrator. This collaboration illustrates how both RAN and non-RAN AI workloads can efficiently share the computing resources, significantly enhancing resource utilization. This not only leads to improved operational efficiencies but also accelerates the return on investment for network operators.

    Nokia and T-Mobile U.S.
    Nokia and T-Mobile are redefining the future of network connectivity by exploring innovative architectures for a multi-purpose cloud infrastructure. Since the announcement of the AI-RAN collaboration last year, both companies are working together to evaluate AI-RAN network architecture, the feasibility of using accelerated computing for L1, and to understand the co-existence of AI and RAN on the shared infrastructure using Nokia Cloud RAN and NVIDIA platforms. The companies are also exploring monetization opportunities and techno-economics of the AI-RAN multi-purpose cloud infrastructure.

    “To fully harness the transformative power of AI-RAN, Nokia is working hand-in-hand with an ecosystem of leading industry partners. We enable the evolution of 5G networks toward a multi-purpose cloud platform that unlocks new revenue models and infrastructure synergies for AI and RAN while already today enhancing RAN performance and efficiency with AI-powered products and services,” commented Tommi Uitto, President of Mobile Networks at Nokia.

    “Alongside AI-RAN Alliance co-founders Softbank and T-Mobile US, it is encouraging to see new operators such as KDDI collaborating with Nokia to explore AI-RAN technologies, use cases and business models. This growing industry participation shows the strong appetite for AI integration with radio access networks,” said Rémy Pascal, Senior Research Manager for Mobile Infrastructure at Omdia.

    “We are thrilled to have signed a Memorandum of Understanding with Nokia to collaborate on the research and development of AI-RAN. This collaboration will accelerate the path to commercial viability by exploring practical applications of AI-powered networks. We anticipate that AI-RAN will unlock significant network optimization, enhance user experiences, reduce costs, and generating new services and revenue, leading to a more efficient and intelligent 5G ecosystem,” noted Kazuhiro Furuhata, Executive Officer & General Manager, Network Node Technical Development Division Core Technology Sector at KDDI.

    “Through the monitoring of hardware resources by the AITRAS Orchestrator, we have successfully enabled the coexistence of vRAN and AI applications. This advancement facilitates the more efficient utilization of base station equipment,” said Hideyuki Tsukuda, Executive Vice President & CTO, SoftBank Corp

    “T-Mobile’s collaboration with Nokia on AI-RAN is driving the future of network innovation. By exploring AI-driven architectures and leveraging multi-purpose cloud infrastructure, we’re evaluating how accelerated compute for Layer 1 (L1) and the seamless integration of AI and RAN on shared platforms with our industry partners will enhance network performance and efficiency. Beyond technical advancements, we’re also exploring new monetization opportunities and the broader techno-economics of AI-RAN, paving the way for smarter, intent-based networks,” added John Saw, Executive Vice President, Chief Technology Officer, T-Mobile.

    AI-RAN at Mobile World Congress 2025
    Nokia will demonstrate its innovative AI-powered solutions at its stand in Hall 3 Stand #3B20 at this year’s Mobile World Congress 2025. Visitors will experience a range of demonstrations including how networks can manage RAN and AI workloads on the same infrastructure as well as how AI is built into Nokia’s AirScale base stations to optimize RAN performance by intelligently adapting to varying radio conditions. Nokia will also demonstrate MantaRay AutoPilot, an AI-powered solution for autonomous RAN operations and optimization including the results of a live customer deployment. Nokia will also showcase the breadth of its AI-based services portfolio, including the new extended reality visualization for the AI-powered Digital Network Twin, and other extensive AI capabilities.

    Multimedia, technical information and related news
    Web Page: Nokia at MWC25
    Web Page: Nokia AI-RAN
    Web Page: Nokia Cloud RAN
    Product Page: Nokia anyRAN
    Product Page: Nokia AirScale Baseband
    Product Page: MantaRay NM
    Whitepaper: AI for Radio Access Networks
    Solution Brief: MantaRay AutoPilot: Powering AI-driven Autonomous RAN Operations

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

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

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

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

    Follow us on social media 
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    The MIL Network

  • MIL-OSI Economics: Central Bank of Bahrain grants license to Mena Industrial Bank

    Source: Central Bank of Bahrain

    Published on 2 March 2025

    Manama, Kingdom of Bahrain – 2 March 2025 – The Central Bank of Bahrain (“CBB”) has granted “Mena Industrial Bank B.S.C. (c)” a Conventional Wholesale Bank license to operate in the Kingdom of Bahrain.

    Commenting on this announcement, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new wholesale bank in Bahrain. This reflects the Kingdom’s continued appeal as a regional and international financial hub in attracting direct investments in the financial services sector. It also reflects CBB’s commitment to maintain a robust and progressive financial regulatory framework that supports economic growth, financial stability, and innovation”.

    The Bank will provide wholesale banking and trade finance solutions to corporations, government entities, and high-net-worth individuals, locally and regionally.

    Share this

    MIL OSI Economics

  • MIL-OSI United Nations: Guterres urges parties to find a way forward on next phase of Gaza ceasefire

    Source: United Nations MIL OSI b

    Peace and Security

    As the first phase of the Gaza ceasefire and hostage release deal concludes, UN Secretary-General António Guterres is closely following developments in Israel and the Occupied Palestinian Territory. 

    “The past six weeks have provided a fragile but vital reprieve, offering a measure of relief to both Palestinians and Israelis,” said the UN chief in a statement issued by his Spokesperson.

    During the period of the truce, thousands of trucks carrying life-saving assistance entered Gaza, reaching nearly every person in the Strip.

    According to media reports, the six-week long ceasefire between Israel and Hamas ended earlier on Saturday with further negotiations between the sides still pending.

    The Secretary-General emphasized the importance of preventing a return to hostilities, which he described as potentially catastrophic. “It is imperative that all efforts be made to prevent a return to hostilities,” the statement urged.

    Mr. Guterres called on all parties to exercise maximum restraint and to find a way forward on the next phase of the ceasefire. He highlighted the necessity of a permanent ceasefire and the release of all hostages to prevent further escalation and protect civilians.

    “A permanent ceasefire and the release of all hostages are essential to preventing escalation and averting more devastating consequences for civilians,” the UN chief said in the statement.

    The statement also stressed the need for the humane treatment of all those held under power and the continuous flow of humanitarian aid. The Secretary-General called for the aid to be adequately funded and delivered in a safe environment for civilians and humanitarian workers.

    “Humanitarian aid must continue to flow, without impediment, ensuring the safety and security of civilians and humanitarian workers,” he added.

    As Ramadan, a time of peace and reflection, begins, Mr. Guterres called for an urgent de-escalation of the situation in the occupied West Bank and an end to all violence.

    “The United Nations stands ready to support all such endeavors,” he affirmed and through the statement underscored the commitment of the UN to supporting peace and stability in the region.

    Today’s statement comes as the Secretary-General heads to Cairo, Egypt, where he will attend on Tuesday summit-level talks convened by Arab leaders on Gaza’s reconstruction. 

    MIL OSI United Nations News

  • MIL-OSI United Nations: Statement attributable to the Spokesperson for the Secretary-General – on Gaza

    Source: United Nations secretary general

    The Secretary-General is closely following developments in Israel and the Occupied Palestinian Territory as the first phase of the ceasefire and hostage release deal reaches its conclusion. The past six weeks have provided a fragile but vital reprieve, offering a measure of relief to both Palestinians and Israelis. Thousands of trucks carrying life-saving assistance entered Gaza, with aid having reached nearly every person in the Strip. It is imperative that all efforts be made to prevent a return to hostilities, which would be catastrophic.

    The Secretary-General urges all parties to exercise maximum restraint and find a way forward on the next phase. A permanent ceasefire and the release of all hostages are essential to preventing escalation and averting more devastating consequences for civilians. The Secretary-General continues to call for the dignified, immediate and unconditional release of all hostages. The parties must ensure humane treatment for all those held under their power. Humanitarian aid must continue to flow, without impediment, be adequately funded, and occur in an environment ensuring the safety and security of civilians and other protected persons, including humanitarian workers.

    The Secretary-General also calls for an urgent de-escalation of the alarming situation in the occupied West Bank.

    As Ramadan — a time of peace and reflection — begins, the Secretary-General calls on all sides to spare no efforts to end all violence. The United Nations stands ready to support all such endeavours.

    MIL OSI United Nations News

  • MIL-OSI Economics: Finance in Common Summit urges global development finance institutions to harness collective power to address global poverty

    Source: African Development Bank Group
    The fifth edition of the Finance in Common Summit (FiCS) concluded on Friday in Cape Town, South Africa, with strong calls for global development finance institutions to work together to address poverty and development challenges. South African Finance Minister Enoch Godongwana led the call.

    MIL OSI Economics

  • MIL-OSI NGOs: Over 500,000 people demand oil & gas companies pay for climate damages

    Source: Greenpeace Statement –

    Cape Town, February 28, 2024 — Greenpeace Africa delivered on Friday 28th February a global petition on behalf of more than half a million people, calling on governments to force fossil fuel companies to “stop their climate wrecking activities” and “repair and pay for the damage they have caused.” The petition was handed over to a coalition of 17 countries and groups currently reviewing “polluter pays” levies [1] at the sidelines of the meeting of the Finance in Commons Summit in Cape Town.[2] In parallel, Cape Town’s iconic Table Mountain National Park is being consumed by wildfires, in the midst of the worst drought in more than 100 years across Southern Africa.[3]

    Sherelee Odayar, Greenpeace Africa’s Oil and Gas Campaigner, said: “It is unfair to expect that ordinary people will face the climate crisis with cents and rands, while the polluters in chief will pocket billions. It is also impractical: Most world governments simply cannot afford to provide climate solutions at the needed scale. Drought, extreme heat, storms, floods and fires are disproportionately affecting Africa and other Global Majority countries. Science and technology can help bring relief, now governments must make polluters pay to deliver justice and raise the necessary funds.”  

    Signatures by people from Africa, the Middle East, Europe, North America, and Southeast Asia were collected between 2023-24, the two hottest years since records began, replete with extreme weather events fuelled by greenhouse gas emissions from the oil and gas industry. At the same, five oil and gas corporations alone reported over US$100 billion cumulatively in profit for last year. 

    The collective demand was presented to the secretariat of the Global Solidarity Levies Taskforce, a coalition of 17 countries and groups, co-led by Barbados, France, and Kenya. It contributes to a public process of consultation which started last month concerning a series of proposals being considered by the governments who are members of the Taskforce, including options to apply levies on fossil fuel industry profits and extraction to fund climate action.

    A letter accompanying the petition reminds that oil and gas companies “knowingly lied about climate change and lobbied to slow action” and are failing to pay their fair share. “Super rich individuals and other polluting industries… should also be held to account. Making polluters pay for the damages they have caused is vital to help communities across the world to recover, rebuild and invest in climate solutions.” 

    The petition’s demands are in line with public polling across a range of geographies, including research recently commissioned by Greenpeace International, which has consistently demonstrated the strong popularity of increasing taxes on oil and gas profits. 

    Greenpeace Africa calls for designing tax and penalty mechanisms in a way that is fair and proportionate – including: ensuring a well-managed and just transition out of coal, oil and gas, while imposing more polluter taxes and fines on the industry to help fund the transition; taking steps to prevent knock-on increases in prices and the cost of living, especially for people living in poverty; and ensuring that people most impacted by climate change benefit the most from revenues raised. 

    Notes:

    [1] The Global Solidarity Levies Task Force: For People and the Planet explores feasible, scaleable and sensible options for levies to raise additional resources for climate and development: https://globalsolidaritylevies.org/world-leaders-pledge-action-on-climate-finance-as-coalition-for-solidarity-levies-launched-at-cop29/ 

    [2] The 5th Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB): https://www.financeincommonsummit2025.com/ 

    [3] A night of flames: Table Mountain fire lights up the Cape Town skyline https://www.capetownetc.com/news/a-night-of-flames-table-mountain-fire-lights-up-the-ct-skyline/ ; Climate change behind the 2021 Table Mountain fire – study https://mg.co.za/the-green-guardian/2023-03-02-climate-change-behind-the-2021-table-mountain-fire-study/ 

    Photos: Handover of petition by Greenpeace Africa campaigner

    For more information, contact: 

    Greenpeace Africa Press Desk: [email protected] 

    Greenpeace International Press Desk: [email protected], +31 (0) 20 718 2470 (available 24 hours). Follow @greenpeacepress for our latest international press releases.

    MIL OSI NGO

  • MIL-OSI Economics: Monthly Data on India’s International Trade in Services for the Month of January 2025

    Source: Reserve Bank of India

    The value of exports and imports of services during January 2025 is given in the following table.

    International Trade in Services
    (US$ million)
    Month Receipts (Exports) Payments (Imports)
    October – 2024 34,309
    (22.3)
    17,215
    (27.9)
    November – 2024 32,014
    (13.9)
    17,229
    (26.0)
    December – 2024 36,857
    (16.5)
    17,781
    (13.8)
    January – 2025 34,726
    (12.0)
    16,706
    (12.6)
    Notes: (i) Figures in parentheses are growth rates over the corresponding month of the previous year which have been revised on the basis of balance of payments statistics.

    Ajit Prasad          
    Deputy General Manager
    (Communications)   

    Press Release: 2024-2025/2284

    MIL OSI Economics

  • MIL-OSI USA: Senator Markey Slams Trump for Weaponizing FBI to Target National Climate Bank Funding

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Senator is co-author of the provision that created the National Clean Investment Fund and Clean Communities Investment Accelerator

    Funds for programs have been frozen for past two weeks with no explanation from Citibank or the EPA

    Washington (February 28, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Environment and Public Works Committee, today released the following statement after revelations that the Federal Bureau of Investigation (FBI) has been questioning the Environmental Protection Agency (EPA) over the National Clean Investment Fund and Clean Communities Investment Accelerator. These programs, which are part of the Greenhouse Gas Reduction Fund, leverage private capital to cut energy bills for families and small businesses, improve resiliency against climate change-fueled disasters, and create local economic opportunity while combatting climate change. The affected $20 billion in funding was lawfully passed by Congress, based on Senator Markey’s National Climate Bank Act, and awarded to grantees around the country.

    Earlier this month, the head of the criminal division at the U.S. Attorney’s office in the District of Columbia, Denise Cheung, was pressured to find evidence of a crime as a justification for freezing the release of the congressionally approved federal funds for the National Clean Investment Fund and the Clean Communities Investment Accelerator. When Cheung declined to pursue an unwarranted criminal investigation due to insufficient evidence, she was forced to resign. Trump Justice Department officials then took additional unprecedented steps to formally freeze this funding—steps which were subsequently rejected by a federal judge and refused by other federal prosecutors. Now, the Trump Justice Department has sent in the FBI.

    “The Trump administration is carrying out a literal bank heist right now, and weaponizing the FBI to do so. First freezing funding, then cravenly searching for a non-existent crime, and now utilizing the FBI to target the climate bank is unfounded and is part of a broader effort by the Trump administration to dismantle the programs that keep Americans safe, healthy, and create jobs. A freeze on these investments would be, by far, the U.S. government’s largest confirmed financial seizure.

    “This kind of illegal and unethical witch hunt is McCarthyesque and shows the Trump administration to be both un-American and deeply worried about the power of clean energy and climate investments. Grantees are already starting to distribute funding to finance projects that will cut energy bills, improve resiliency, and create local economic opportunity around the country.

    “The FBI must immediately stop following the groundless, politicized directives of Trump and Musk and instead return to the important work of protecting the American people, not serving as Trump’s personal corrupt police force. And Citibank must immediately restart the flow of funds to recipients so they can continue to leverage private dollars for projects that will benefit Americans nationwide.”

    Following the passage of the Inflation Reduction Act in 2022, Senators Markey and Chris Van Hollen (D-Md.) and Congresswoman Debbie Dingell (MI-06), the House lead on the climate financing legislation, welcomed the launch of the Greenhouse Gas Reduction Fund in April 2023.

    Since the start of EPA Administrator Lee Zeldin’s unfounded attacks on the Greenhouse Gas Reduction Fund this month, Senator Markey issued a statement urging Citibank not to give into fearmongering, wrote a letter to the Department of Justice Inspector General about revelations that Assistant U.S. Attorney Denise Cheung was forced to resign after declining to pursue a criminal investigation, and signed onto a letter with the entire Environment and Public Works Committee Democrats demanding answers from the EPA.

    MIL OSI USA News

  • MIL-OSI USA: Cotton, Scott, Hill, and Colleagues to Uyeda: Review Approach to Consolidated Audit Trail

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton
     
    FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353February 28, 2025
    Cotton, Scott, Hill, and Colleagues to Uyeda: Review Approach to Consolidated Audit Trail
    Washington, D.C. — Senator Tom Cotton (R-Arkansas), Senate Banking Committee Chairman Tim Scott (R-South Carolina), and House Financial Services Committee Chairman French Hill (Arkansas-02) today sent a letter to Acting Chairman of The Securities and Exchange Commission Mark Uyeda to launch a comprehensive review of all aspects of the Consolidated Audit Trail.
    Additional signers of the letter included Senator Boozman (R-Arkansas), Senator Bill Hagerty (R-Tennessee), Senator John Kennedy (R-Louisiana), Congressman Bill Huizenga (Michigan-04), Congresswoman Ann Wagner (Missouri-02), and Congressman Barry Loudermilk (Georgia-11).
    In part, the lawmakers wrote:
    “The prohibition on collecting investor PII must be formally codified (rather than via rescindable exemptive relief) and already-collected PII must be expunged.  Cybersecurity measures for the remaining data must be enhanced.  And the CAT’s bloated out-of-control budget must be addressed… . Further, it would appear appropriate for the Commission to pause and reconsider its position with respect to ongoing litigation related to the CAT, as it has done for other cases commenced during the Biden administration.”
    Full text of the letter may be found here and below.
    February 28, 2025
    Mr. Mark Uyeda
    Acting Chairman
    U.S. Securities and Exchange Commission
    100 F Street NE
    Washington, DC 20549
    The Consolidated Audit Trail (CAT) has been a highly controversial endeavor that has raised many concerns from Members of Congress, including with respect to (i) the unwarranted collection of personally identifiable information (PII) from millions of American investors, (ii) potential cybersecurity vulnerabilities, and (iii) its inequitable funding structure.
    We are pleased that you and fellow Commissioner Peirce have repeatedly acknowledged these longstanding concerns and applaud the Commission for its recent steps to protect the financial privacy of American investors.
    However, there is more work to be done. The prohibition on collecting investor PII must be formally codified (rather than via rescindable exemptive relief) and already-collected PII must be expunged.  Cybersecurity measures for the remaining data must be enhanced.  And the CAT’s bloated out-of-control budget must be addressed.
    Given these continuing concerns, the Commission should launch a comprehensive review that covers all aspects of the CAT.  In doing so, the Commission should take additional steps to pause the CAT’s most controversial elements—not only the collection of customer PII, but also the problematic funding structure that a majority of the current Commission voted against. Further, it would appear appropriate for the Commission to pause and reconsider its position with respect to ongoing litigation related to the CAT, as it has done for other cases commenced during the Biden administration.
    Thank you for your prompt attention to this matter.

    MIL OSI USA News

  • MIL-OSI: U.S. Rep. Lou Correa Joins FHLBank San Francisco to Address Affordable Housing Crisis in Orange County

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO and SANTA ANA, Calif., Feb. 28, 2025 (GLOBE NEWSWIRE) — With intent on identifying practical solutions for the growing affordable housing and homelessness crisis in Orange County, U.S. Rep. Lou Correa, (CA-46) hosted a roundtable discussion with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today in Santa Ana, California. The roundtable brought together affordable housing leaders, community organizations, financial institutions and other stakeholders throughout the area to discuss how organizations and public-private partnerships could play a pivotal role to delivering solutions to address the housing crisis in the region.

    “Homeownership is an essential part of the American Dream and represents a tangible pathway for middle-class families in our community build generational wealth,” said Rep. Lou Correa. “Too many families in Orange County struggle to afford housing and make ends meet, which is causing an increase in unhoused people. This roundtable brings together local housing partners that also seek to increase housing supply and make real progress in housing our communities.”

    Rep. Correa has a history of leading on issues related to affordable housing and has secured millions in federal funding for local projects that support affordable housing development, advance homeownership for first time homebuyers and expand supportive housing options. By teaming up with FHLBank San Francisco and its members, he is working to find practical solutions to the local housing crisis.

    We are proud to collaborate with Representative Correa, a long-standing leader with a clear understanding of how complexities surrounding the local housing and real estate market are impacting middle- and lower-income people and families,” said Joe Amato, interim president and chief executive officer, and chief financial officer of FHLBank San Francisco. “We are partnering with community organizations, housing leaders and our member financial institutions to help turn ideas into action to create more affordable housing solutions.”

    Congressman Correa serves as Chair of the Congressional Real Estate Caucus, a bipartisan group focused on housing and real estate policy. He has been a strong advocate for increasing affordable housing options and addressing homelessness in California, supporting policies that expand federal housing assistance programs and streamline funding for local housing initiatives. He also worked on legislation to speed up disaster relief funds provided by the Federal Emergency Management Agency (FEMA), delivered millions of dollars in federal grant funding to his district to support neighborhood improvements and ensured sustainable access to water for his district amidst climate change.

    Since 2015, FHLBank San Francisco has awarded over $7.5 million in Affordable Housing Program (AHP) grants to support a range of projects in Orange County. Last year, FHLBank San Francisco funded $1.6 million for affordable housing projects in Orange and Placentia that helped create over 100 affordable housing units; and statewide more than $49 million in AHP grants were awarded through its member financial institutions to help address and expedite solutions to California’s affordable housing crisis.

    Attendees at the roundtable included:

    • Congressman Lou Correa (CA-46)
    • Laura Archuleta, Jamboree Housing
    • Jeff Ball, Orange County Business Council
    • Alfonso Ceja-Villa, Habitat for Humanity Orange County
    • Cesar Covarrubias, Kennedy Commission
    • Dr. Pooja Bhalla, Illumination Foundation
    • Jordan Hoiberg, Illumination Foundation
    • Noerena Limon, Casitas Coalition
    • Brenda Magaña, NeighborWorks Orange County
    • Margarita Muniz, Orange County Community Housing Corporations
    • Gabriel Orozco, Santa Ana Credit Union
    • Melissa Pederson, Wescom Credit Union
    • Letty Plascencia, Orange County Community Housing Corporations
    • Grace Ruiz-Stepter, Anaheim Housing Authority
    • Greg Ward, Federal Home Loan Bank of San Francisco
    • Jeremy Empol, Federal Home Loan Bank of San Francisco
    • Anabel Cuevas, Federal Home Loan Bank of San Francisco

    FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region, including Arizona, California, and Nevada. Since the Affordable Housing Program (AHP) was created in 1990, FHLBank San Francisco has awarded over $1.35 billion in AHP grants to support the construction, rehabilitation, or purchase of over 154,600 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States.

    About Federal Home Loan Bank of San Francisco

    The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

    The MIL Network

  • MIL-OSI Security: San Diego Man Who Ran $35 Million Securities Fraud and COVID-Relief Fraud Scheme Sentenced to Almost 20 Years

    Source: Office of United States Attorneys

    SAN DIEGO – Denny Thakorbhai Bhakta, who was convicted by a federal jury in October 2024 of securities fraud, bank fraud and money laundering in connection with a $35 million swindle that left his own elderly uncle bankrupt, was sentenced in federal court today to 235 months in custody. Bhakta was convicted of all 25 charges after a two-week trial.

    The evidence at trial showed Bhakta solicited investors in his companies Fusion Hotel Management LLC and Fusion Hospitality Corporation (collectively “Fusion”). Between at least 2016 and up to 2021, Bhakta falsely told investors that Fusion routinely acquired discounted blocks of hotel rooms from Hilton, which Fusion then sold to United Airlines at a higher price for a significant profit.

    To support these lies, Bhakta provided fabricated bank statements, fake contracts, and profit and loss statements purporting to show millions in revenue and profit. Instead of buying blocks of hotel rooms with investors’ funds, however, Bhakta used the money he obtained from investors for gambling, to make Ponzi-style payments to other investors, and to pay for Bhakta’s personal expenses, including luxury vehicles.

    According to court documents, Bhakta targeted friends, family members and close acquittances during the multi-year fraud scheme. Among the victims was Bhakta’s uncle, who was swindled out of $4.5 million, and who testified during the trial that he came to the U.S. as an immigrant with a suitcase and $8 in his pocket, and because of the defendant, he “lost everything he had worked for in 57 years in America. Everything.”

    Bhakta’s other victims included a childhood friend who lost hundreds of thousands of dollars; his former boss and his wife; a friend of his family who lost $1.6 million; a high school classmate and her father who together lost more than $800,000; and an 88-year-old investor who lost $50,000.

    During the trial, prosecutors introduced evidence that Bhakta was flown to Las Vegas on the Wynn Las Vegas private jet. And in just one 7.5-hour gambling binge in 2018, Bhakta lost $1 million at the casino. Through a trove of casino records, prosecutors demonstrated how Bhakta repeatedly took investors’ money straight to casinos and gambled (and lost) millions of investor money.

    “I haven’t seen a case quite like this,” said U.S. District Judge Janis L. Sammartino, who found Bhakta’s conduct “could not have been more deliberate [and] could not have been more calculated.”  In pronouncing the 235-month prison sentence, Judge Sammartino noted Bhakta’s only apparent motive was “greed and gambling,” his victims included his own friends and relatives, and he showed “nothing resembling remorse” for his criminal conduct that spanned years.

    “This defendant didn’t just betray investors—he callously swindled his own family and closest friends, leaving his elderly uncle bankrupt,” said Acting U.S. Attorney Andrew Haden. “Instead of safeguarding their hard-earned money, he funneled millions straight to casinos, gambling away their futures along with his own. His lies, deceit, and reckless greed have finally caught up to him. Today’s sentence makes clear that those who gamble with other people’s trust and livelihoods will face the consequences.”

    “Denny Bhakta orchestrated an elaborate investment fraud scheme that caused extensive financial harm to unsuspecting victims, including close family and friends, all for his own personal gain,” said FBI Special Agent in Charge Stacey Moy.  “Today’s sentence holds him accountable for his greed and deceitful conduct, bringing justice to the victims he exploited.”

    According to the government’s sentencing materials, in 2020, Bhakta doubled down on the fraud. Through the Paycheck Protection Program (“PPP”), Bhakta applied for 18 separate PPP loans totaling $4.4 million. To fraudulently obtain the PPP loans, Bhakta created fake W-2 and other IRS documents and used the names and personally identifying information of his victim-investors to claim them as employees of Fusion and other entities under Bhakta’s control.  Bhakta used the more than $4.4 million he received in PPP loans to keep the Ponzi scheme going and to continue gambling and losing money at casinos.

    This case is being prosecuted by Assistant U.S. Attorneys Kevin Mokhtari and Eric Olah.

    DEFENDANTS                                             Case Number 21cr3352-JLS                            

    Denny Thakorbhai Bhakta                             Age: 42                                   San Diego, CA

    SUMMARY OF CHARGES

    Securities Fraud—Title 15, U.S.C. §§ 78j(b), 78ff; Title 17, C.F.R. § 240.10b-5

    Maximum penalty:  Twenty years in prison and $5,000,000 fine

    Bank Fraud—Title 18, U.S.C., Section 1344(2)

    Maximum penalty:  Thirty years in prison and $1 million fine

    Money Laundering– Title 18, U.S.C., Section 1957

    Maximum penalty: Ten years in prison and fine twice the amount of the criminally derived property involved in the transaction

    INVESTIGATING AGENCY

    Federal Bureau of Investigation

    MIL Security OSI

  • MIL-OSI USA: Kennedy, Cotton, Scott urge SEC to review Consolidated Audit Trail

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today joined Sens. Tom Cotton (R-Ark.) and Tim Scott (R-S.C.) and colleagues in sending a letter to the acting chairman of the U.S. Securities and Exchange Commission (SEC), Mark Uyeda, urging him to conduct a comprehensive review of the Consolidated Audit Trail (CAT). 
    The SEC requires brokers to submit investors’ personally identifiable information (PII) to its CAT database. Earlier this month, the Trump administration’s SEC issued an order that exempts certain PII consisting of investors’ names, addresses and years of birth from CAT reporting.
    “The Consolidated Audit Trail (CAT) has been a highly controversial endeavor that has raised many concerns from Members of Congress . . . We are pleased that you and fellow Commissioner Peirce have repeatedly acknowledged these longstanding concerns and applaud the Commission for its recent steps to protect the financial privacy of American investors,” the lawmakers wrote.
    “However, there is more work to be done. The prohibition on collecting investor PII must be formally codified (rather than via rescindable exemptive relief) and already-collected PII must be expunged. Cybersecurity measures for the remaining data must be enhanced. And the CAT’s bloated out-of-control budget must be addressed,” they continued.
    “Given these continuing concerns, the Commission should launch a comprehensive review that covers all aspects of the CAT. In doing so, the Commission should take additional steps to pause the CAT’s most controversial elements—not only the collection of customer PII, but also the problematic funding structure that a majority of the current Commission voted against. Further, it would appear appropriate for the Commission to pause and reconsider its position with respect to ongoing litigation related to the CAT, as it has done for other cases commenced during the Biden administration,” the lawmakers concluded. 
    Background:
    Earlier this month, Kennedy introduced the Protecting Investors’ Personally Identifiable Information Act.
    Kennedy’s bill would prohibit the SEC from requiring market participants to submit investors’ personally identifiable information to the CAT. 
    The bill would also require the SEC to delete personally identifiable information once the agency resolves the investigation or issue that required that information. 
    Sens. John Boozman (R-Ark.) and Bill Hagerty (R-Tenn.) and Reps. French Hill (R-Ark.), Bill Huizenga (R-Mich.), Ann Wagner (R-Mo.) and Barry Loudermilk (R-Ga.) also joined the letter. 
    The full letter is available here.

    MIL OSI USA News

  • MIL-OSI Economics: Bhutan: Development of an Interest Rate Corridor Framework

    Source: International Monetary Fund

    Summary

    At the request of the Royal Monetary Authority of Bhutan (RMA), an IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) visited Thimphu during August 20-29, 2024. The mission’s objectives were to assist the authorities in setting up interest rate corridor (IRC) and operationalizing the related instruments, operations, liquidity forecasting, and collateral frameworks.

    Subject: Asset and liability management, Central Banks, Financial regulation and supervision, Interest rate corridor, Liquidity forecasting, Liquidity management, Monetary policy, Open market operations

    Keywords: Central bank policy rate, Interest rate corridor, International organization, Liquidity forecasting, Liquidity management, Monetary policy, Money markets, Open market operations

    MIL OSI Economics

  • MIL-OSI: First Savings Financial Group, Inc. Announces Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    JEFFERSONVILLE, Ind., Feb. 28, 2025 (GLOBE NEWSWIRE) — First Savings Financial Group, Inc. (NASDAQ: FSFG) (the “Company”), the holding company for First Savings Bank (the “Bank”), announced that its Board of Directors declared a quarterly cash dividend of $0.16 per common share. The dividend will be paid on or about March 31, 2025 to stockholders of record as of the close of business March 14, 2025.

    The Bank is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, which is directly across the Ohio River from Louisville, Kentucky, and operates fifteen depository branches within Southern Indiana. The Bank also has two national lending programs, including single-tenant net lease commercial real estate and SBA lending, with offices located predominately in the Midwest. The Bank is a recognized leader, both in its local communities and nationally for its lending programs. The employees of First Savings Bank strive daily to achieve the organization’s vision, We Expect To Be The BEST community BANK, which fuels our success. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “FSFG.”

    Contact:

    Tony A. Schoen
    Chief Financial Officer
    (812) 283-0724

    The MIL Network

  • MIL-OSI: Oak Valley Community Bank Announces Commercial Credit Officer Hiring

    Source: GlobeNewswire (MIL-OSI)

    OAKDALE, Calif., Feb. 28, 2025 (GLOBE NEWSWIRE) — Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that Jean Turpen has joined the bank as Vice President, Commercial Credit Officer. She is based out of the Roseville Office located at 1478 Stone Point Drive.

    Turpen has 21 years of banking experience and a distinguished career in the banking industry, having held various leadership positions in commercial credit and lending. Her understanding of commercial lending, credit risk management, and financial analysis makes her an invaluable addition to the bank. In her new role, she will be responsible for client relationship management, portfolio management, and credit analysis. She will work closely with the Greater Sacramento Region team to drive sustainable growth and maintain our commitment to excellence in service and performance.

    “We’re excited to welcome Jean to our team. Her experience and proven track record in the banking sector will be instrumental in driving our commercial credit strategies and supporting our growth objectives,” said Gary Stephens, EVP Commercial Banking Group.

    Turpen earned a bachelor’s degree in mathematics from University of Alaska Anchorage. She is a member of the Construction Financial Management Association (CFMA). Turpen resides in Orangevale with her husband and two sons. In her free time, she enjoys fitness, gardening, orchestral music, and reading.

    Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra division, which includes Bridgeport, Mammoth Lakes, and Bishop. The company will open its 19th branch location in Lodi later this year. For more information, call 1-866-844-7500 or visit www.ovcb.com.

    Date: February 28, 2025
    Contact: Chris Courtney/Rick McCarty
    Phone: (209) 848-BANK (2265) 
      Toll Free (866) 8447500
      www.ovcb.com

    The MIL Network

  • MIL-OSI: Triumph Financial Announces Dividend for 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 28, 2025 (GLOBE NEWSWIRE) — Triumph Financial, Inc. (the “Company”) (Nasdaq: TFIN) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, represented by depositary shares (Nasdaq: TFINP), each representing a 1/40th interest in a share of preferred stock. Holders of depositary shares will receive $0.44525 per depositary share. The dividend is payable on March 30, 2025, to holders of record at the close of business on March 15, 2025.

    About Triumph Financial

    Triumph Financial, Inc. (Nasdaq: TFIN) is a financial holding company focused on payments, factoring and banking. Headquartered in Dallas, Texas, its diversified portfolio of brands includes TriumphPay, Triumph and TBK Bank. www.tfin.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 11, 2025. Forward-looking statements speak only as of the date made, and Triumph Financial undertakes no duty to update the information.

    Source: Triumph Financial, Inc.

    Investor Relations:
    Luke Wyse
    Senior Vice President, Head of Investor Relations
    lwyse@tfin.com
    214-365-6936

    Media Contact:
    Amanda Tavackoli
    Senior Vice President, Director of Corporate Communication
    atavackoli@tfin.com
    214-365-6930

    The MIL Network

  • MIL-OSI: BDTCOIN: The Rising Star Defying Crypto Market Trend

    Source: GlobeNewswire (MIL-OSI)

    FERNANDINA BEACH, Fla., Feb. 28, 2025 (GLOBE NEWSWIRE) — The cryptocurrency market has been experiencing one of its most challenging phases. Even the biggest players, such as Bitcoin and Ethereum, have witnessed steep corrections of 15-30% from their recent highs. During such volatile times, most digital assets struggle to maintain value—but not BDTCOIN. Defying the odds, this emerging cryptocurrency has surged an astonishing 5x in just 15 days since its listing on LBank, turning heads in the crypto world.

    At a time when uncertainty looms over the industry, BDTCOIN is rewriting the narrative. It’s not just another token riding speculative waves—it’s a revolutionary digital asset with a purpose. Built on the principles of financial inclusion, cross-border accessibility, and blockchain transparency, BDTCOIN is proving that true innovation thrives even in bear markets.

    “In a sea of red, BDTCOIN’s performance is nothing short of extraordinary,” states renowned crypto analyst, Dr. Anya Sharma. “Its gold-backed foundation and quantum-resistant technology provide a level of security and stability that’s crucial in today’s volatile market. I am telling my clients that this is a must-have asset.”

    A Market Outperformer in a Bearish Climate

    Despite the ongoing market-wide correction, BDTCOIN has emerged as a beacon of resilience, showcasing strong demand and adoption. But what makes BDTCOIN stand out in a sea of digital assets? The answer lies in its unique value proposition—utility-driven innovation designed for real-world impact.

    Michael Carter, Senior Crypto Analyst, adds: “While most cryptocurrencies struggled amid February’s market crash, BDTCOIN stood strong, proving itself as one of the most resilient digital assets in the industry. Its gold-backed nature provides a unique hedge against volatility, making it a standout investment.”

    The BDTCOIN Difference: More Than Just a Coin

    BDTCOIN isn’t just another speculative asset; it’s a cryptocurrency built to redefine financial inclusion, streamline cross-border transactions, and foster economic empowerment. Unlike many cryptos that merely serve as digital gold or investment vehicles, BDTCOIN aims to bridge gaps in the financial ecosystem, making transactions seamless, accessible, and affordable.

    Financial Inclusion for the Unbanked : Millions worldwide remain excluded from the traditional banking system due to high costs, accessibility issues, and bureaucratic hurdles. BDTCOIN leverages blockchain technology to provide secure, low-cost financial services, allowing individuals to send remittances, save funds, and access credit without relying on traditional banks.

    Cross-Border Transactions Made Easy: Remittance services often charge high fees and take days to process transactions. BDTCOIN eliminates these inefficiencies with near-instant, low-cost cross-border payments, revolutionizing the way migrant workers send money home.

    Decentralized and Transparent: BDTCOIN operates on a decentralized blockchain, ensuring transparency and security. By reducing reliance on intermediaries, it minimizes fraud and corruption—critical factors in regions where trust in financial institutions is low.

    A Focus on Emerging Markets: While many cryptocurrencies primarily cater to developed nations and institutional investors, BDTCOIN is tailored for emerging markets, where financial innovation is most needed. The coin is gaining traction as a practical alternative to traditional banking systems from Africa to Southeast Asia.

    Raj Mehta, Financial Expert, affirms: “BDTCOIN is not just another cryptocurrency; it’s a financial revolution. In a market where volatility reigns, this asset has demonstrated unwavering strength, making it one of the top contenders for long-term adoption.”

    Transaction Processing: Speed, Security, and Scalability

    BDTCOIN’s underlying blockchain infrastructure is built for efficiency, ensuring rapid, secure, and cost-effective transactions.

    • Rapid confirmation times: Transactions are processed almost instantly, eliminating long wait times.
    • Minimal processing fees: Unlike traditional banking systems, BDTCOIN enables low-cost transfers, making financial transactions more accessible.
    • Scalable infrastructure: Designed for mass adoption, BDTCOIN’s blockchain can handle high transaction volumes without congestion.
    • 24/7 operation: No banking hours or delays—BDTCOIN transactions run around the clock, ensuring seamless financial interactions worldwide.

    The Road Ahead for BDTCOIN

    As the crypto market remains turbulent, BDTCOIN’s ability to not only withstand the downturn but thrive in it is a testament to its strong fundamentals and growing adoption. With a clear mission to democratize finance and a robust technological backbone, BDTCOIN is poised to redefine how people interact with money in a digital-first world.

    With increasing adoption, strategic partnerships, and a focus on real-world utility, BDTCOIN is more than just another cryptocurrency—it’s a movement towards a more inclusive and efficient financial system.

    Thus, In a world where the gap between the haves and the have-nots continues to widen, BDTCOIN offers a glimmer of hope. It’s a reminder that technology when used responsibly, can be a force for good.

    Disclaimer: Cryptocurrency investments are subject to market risks. Investors should conduct their own research before making any financial decisions.

    Company Details:

    Website: https://bdtcoin.co/

    Explorer: https://bdtcoin.info

    Development: https://bdtcoin.org

    Email: Admin@bdtcoin.co

    Disclaimer: This content is provided by BDTCOIN. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c5eee057-fed6-4e39-b779-4a99722fb74a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2cfc07e0-4ddf-46a5-9217-a7b81722ab06

    The MIL Network

  • MIL-OSI USA: Support Pours in for President Trump, VP Vance’s America First Strength

    US Senate News:

    Source: The White House
    Today, President Donald J. Trump and Vice President JD Vance made clear to the world that the United States will not be taken advantage of — a sentiment echoed by the cabinet and members of Congress from across the country.
    Secretary of State Marco Rubio: “Thank you @POTUS for standing up for America in a way that no President has ever had the courage to do before. Thank you for putting America First. America is with you!”
    Sen. Lindsey Graham: “I’ve never been more proud of President Trump for showing the American people — and the world — you don’t trifle with this man … He wanted to get a ceasefire. He wants to end the war and Zelenskyy felt like he needed to bait Trump in the Oval Office.”
    Secretary of Homeland Security Kristi Noem: “I am so proud of our Commander-in-Chief. Thank you President @RealDonaldTrump and @VP for standing up for America. We will not tolerate the political games and disrespect of America. America is back.”
    Secretary of Defense Pete Hegseth: “Amen, Mr. President.”
    Secretary of the Treasury Scott Bessent: “Thank you, President Trump, for standing up for the American people and our nation on the global stage.”
    Secretary of the Interior Doug Burgum: “Thank you @POTUS for standing strong for America while working to end the killing abroad.”
    Secretary of Agriculture Brooke Rollins: “American leadership is back — in the Oval Office — and on the world stage. FEARLESS. BOLD. RELENTLESS. We will save America.”
    Secretary of Transportation Sean Duffy: “Thank you @POTUS for standing up for the United States. The American people will not stand for disrespect of our President, Oval Office, or our generous taxpayers. Peace is only accomplished through strength and our allies need to understand that.”
    Secretary of Housing and Urban Development Scott Turner: “President Trump is standing up for forgotten Americans, not endless foreign wars. Biden’s legacy — increased homelessness, record high interest rates, all-time highs to buy a house, and Americans footing the bill. That ended January 20th. The American people are behind @POTUS.”
    Sen. Jim Banks: “Thank you President Trump for standing up for America!”
    Sen. Marsha Blackburn: “Thank you President Trump and VP Vance or standing up for America.”
    Sen. Bill Hagerty: “The United States of America will no longer be taken for granted. The contrast between the last four years and now could not be more clear. Thank you, Mr. President.”
    Sen. Josh Hawley: “Remember: the U.S. Senate has repeatedly and for years voted BILLIONS of taxpayer dollars to Ukraine with no strings attached and with no true oversight. It’s time for some ACCOUNTABILITY.”
    Sen. Jim Justice: “Glad to have a @POTUS and @VP in charge that absolutely put America FIRST.”
    Sen. Mike Lee: “Thank you for standing up for OUR COUNTRY and putting America first, President Trump and Vice President Vance!”
    Sen. Bernie Moreno: “Finally we have a President who will speak the TRUTH and stand up against Washington’s endless wars. American taxpayers have been funding this war, it’s time to stop the killing and stop risking World War 3!”
    Sen. Markwayne Mullin: “Under this President— the greatest, freest, and most generous nation on Earth is putting America First. I’d encourage anyone who has a problem with that to reevaluate their priorities.”
    Sen. Rick Scott: “Thank you President Trump for standing up for America.”
    Sen. Eric Schmitt: “It’s about time we have leaders who say what the American people are really thinking and prioritize the core national interests of America. The American taxpayer is tapped out, and President Trump and VP Vance are spot on.”
    Sen. Tommy Tuberville: “Thank you Mr. President and Vice President Vance for putting America first”
    Majority Leader Steve Scalise: “President Trump is fighting for PEACE around the world and is putting America First as our best negotiator—he’s the only one to get Russia to the table to consider a serious and lasting peace agreement with Ukraine.”
    Chairwoman Lisa McClain: “President Trump inherited this war. He has said from the beginning he wants to bring peace. @POTUS is a strong leader, and I know his negotiations will bring a deal together.”
    Rep. Andy Biggs: “Gone are the days of foreign leaders walking all over us and snubbing their noses at America’s generosity. There’s a new President and Vice President in town. World leaders would be wise to humble themselves.”
    Rep. Tim Burchett: “Job well done by @realDonaldTrump and our VP @JDVance. Give respect to get respect.”
    Rep. Mike Collins: “Thank God we finally have a @POTUS who is willing to put America FIRST. Blessed are the peacemakers.”
    Rep. Eli Crane: “America First. Thank you, President Trump and Vice President Vance.”
    Rep. Dan Crenshaw: “If you are the leader of a country in a dire situation with no path to peace without American support, do not come into the Oval Office and argue with the President of the United States in public. Just a word of advice.”
    Rep. Andrew Clyde: “President Trump and Vice President Vance are standing up for the AMERICAN PEOPLE. Our great country will NOT be taken advantage of or disrespected.”
    Rep. Byron Donalds: “This is what putting the AMERICAN PEOPLE FIRST looks like. Thank you @realdonaldtrump and @JDVance for standing up for our nation.”
    Rep. Brandon Gill: “America First in action. Thank you, @realdonaldtrump and @JDVance, for prioritizing our people and for promoting peace!”
    Rep. Lance Gooden: “President @realdonaldtrump and Vice President @JDVance will never allow the United States to be disrespected or taken advantage of. America First, always!”
    Rep. Paul Gosar: “Thank you, Mr. President and Vice President. The days of the USA getting pushed around are clearly over.”
    Rep. Marjorie Taylor Greene: “President Trump and Vice President Vance will put America First every single time. Putting Zelensky in his place while he disrespects the U.S. in the Oval Office is exactly what American leadership should look like. This is what We The People want to see!”
    Rep. Pat Harrigan: “America’s priorities come first. @POTUS and @VP made it clear—Ukraine’s interests are not America’s interests. We’ve spent hundreds of billions with no accountability, no clear objectives, and no plan for peace. It’s time to put America first and end this war.”
    Rep. Mark Harris: “Thank you, President Trump and Vice President Vance, for boldly defending America’s interests. This is PEACE THROUGH STRENGTH”
    Rep. Diana Harshbarger: “The act displayed by Zelenskyy in the Oval Office was nothing short of a massive show of disrespect for the Trump Administration and the American people. Despite this, President Trump and Vice President Vance are holding the line and trying to end this conflict peacefully. God bless them both.”
    Rep. Wesley Hunt: “You do NOT blame the people fighting to save your country! America leads—no more excuses!”
    Rep. Nancy Mace: “Peace through strength live from the Oval”
    Rep. Thomas Massie: “Is this the end of Zelensky’s presidency? He hitched his wagon to Biden and the deep state. They lost and now he doesn’t seem to be playing his cards well.”
    Rep. Brian Mast: “American won’t be taken advantage of and America won’t be taken for granted. Thank you, President Trump and Vice President Vance for standing up for America.”
    Rep. Addison McDowell: “AMERICA AND THE AMERICAN TAXPAYER ALWAYS COME FIRST”
    Rep. Mary Miller: “What has happened in Ukraine is a travesty. Joe Biden threw “gas on the fire.” Ukraine lost an entire generation, and Americans hundreds of billions in tax dollars. We thank God for giving us strong leadership. Thank you @POTUS and @VP for putting America’s interests first, and working to end this terrible war.”
    Rep. Riley Moore: “It is amazing to have a President and VP who put America First! Thank you President Trump and VP Vance for fighting for our country and our people!”
    Rep. Troy Nehls: “President Trump and Vice President Vance are standing up for the American people. This is America First leadership on display. Thank you POTUS and VP!”
    Rep. Ralph Norman: “THIS is strong leadership that is ensuring we put the American people FIRST. Thank you @realDonaldTrump and @JDVance for standing up for our nation.”
    Rep. Andy Ogles: “This is what it looks like to stand up for America.”
    Rep. Mike Rulli: “You don’t have the cards!”
    Rep. Keith Self: “TOUGH and FAIR. The world is witnessing American leadership back in the White House. Thank you President Trump and Vice President Vance.”
    Rep. Victoria Spartz: “Zelensky is doing a serious disservice to the Ukrainian people insulting the American President and the American people – just to appease Europeans and increase his low polling in Ukraine after he failed miserably to defend his country. This is not a theater act but a real war!”
    Rep. Greg Steube: “Ridiculous grandstanding by Zelensky in the Oval Office. The United States has spent hundreds of billions of dollars to defend Ukraine. And this is the thanks the American people get?  It’s time to end this war.”
    Rep. Marlin Stutzman: “TRUMP IS THE GREATEST NEGOTIATOR AMERICA HAS EVER HAD! AMERICA IS BEING MADE GREAT BEFORE OUR VERY EYES!”
    Rep. Andy Weber: “America FIRST. Strong, unapologetic leadership on the world stage is BACK!”
    Rep. Joe Wilson: “I agree with President Trump that Ukrainian soldiers have been unbelievably brave! Critical Minerals Deal a major step forward toward ending the war responsibly. More sanctions on Russia & arms for Ukraine create maximum leverage for FULL land swap Art of the Deal!”

    MIL OSI USA News

  • MIL-OSI Security: United States Files Civil Complaint To Forfeit 9,000 Boys’ Suits Imported From China That Contained Unsafe Levels Of Lead

    Source: Office of United States Attorneys

    NEWARK, N.J. – The United States Attorney’s Office filed a civil complaint today to forfeit more than 9,000 boys’ suits that were intercepted at the Port of New York/Newark after being imported from China, Acting U.S. Attorney Vikas Khanna announced.

    As alleged in the civil forfeiture complaint, the boys’ suits were seized by the Department of Homeland Security, U.S. Customs and Border Protection, in March 2020, after the buttons on the boys’ suits were tested by the U.S. Consumer Product Safety Commission and found to contain prohibited levels of lead. Further, and as alleged in the civil forfeiture complaint, this was at least the third instance in which the importer, Angels New York US, Inc., attempted to import children’s clothing that contained unsafe levels of lead.

    Acting U.S. Attorney Khanna credited members of the U.S. Customs and Border Protection at the Port of New York/Newark, under the direction of Port Director Jeffrey Greene, and members of the U.S. Consumer Product Safety Commission.

    The government is represented by Assistant U.S. Attorney Peter A. Laserna of the Bank Integrity, Money Laundering and Recovery Unit.

    The accusations in the complaint, and the description of the complaint, constitute only allegations.
     

    MIL Security OSI

  • MIL-OSI Security: Northborough Man Sentenced to Two Years in Prison for Embezzling Over $360,000 From Non-Profit

    Source: Office of United States Attorneys

    BOSTON – A Northborough man was sentenced today in federal court in Worcester for wire fraud and money laundering charges after embezzling approximately $366,477 from a non-profit organization in Sturbridge.

    Kyriakos Kapiris, a/k/a Rick Kapiris, 38, was sentenced by U.S. District Court Judge Margaret R. Guzman to two years in prison, to be followed by five years of supervised release. Kapiris was also ordered to pay $371, 088.97 in restitution. In June 2022, Kapiris pleaded guilty to two counts of wire fraud and one count of money laundering.

    From April 2015 to May 2020, Kapiris worked as the Information Technology Manager at Venture Community Services (VCS), a non-profit organization in Sturbridge, Mass. that services developmentally disabled members of the community. As part of his responsibilities, the organization provided Kapiris access to two company credit cards to purchase equipment and services as needed. Beginning in 2016, Kapiris used the two company credit cards to purportedly purchase equipment from two vendor accounts on the web app Square and one account on Amazon. In reality, Kapiris created the three vendor accounts to embezzle the funds and fabricated sales invoices for purportedly purchased equipment to conceal the scheme. Kapiris used the names of legitimate Massachusetts companies for the two Square accounts and created the Amazon account in the name of a company that he controlled, “NetworkingPlus.”  

    Kapiris linked the three vendor accounts to several of his own personal accounts at Bank of America into which he transferred the fraudulent proceeds. Kapiris then used the stolen funds for personal expenses, including to build a house. The house was forfeited by the government and sold.  

    At sentencing, the Court noted that the defendant had been previously convicted of stealing from a prior employer and was on probation for that offense at the time of his theft from VCS.

    United States Attorney Leah B. Foley and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement. Valuable assistance was provided by the Sturbridge and Northborough Police Departments. Assistant U.S. Attorneys Lucy Sun and Kristen Noto of the Worcester Branch Office prosecuted the case.
     

    MIL Security OSI

  • MIL-OSI Africa: Afreximbank and Kenyan government ink milestone agreements to promote industralisation

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

    MOMBASA, Kenya, February 28, 2025/APO Group/ —

    • Afreximbank to finance development and operationalisation of industrial parks and special economic zones to bolster industralisation and export manufacturing
    • Afreximbank also commits to three-year US$3 billion Kenya country programme to support trade and trade-related investments

    African Export-Import Bank (Afreximbank) (www.Afreximbank.com), Africa’s foremost trade development Bank, today in Mombasa, Kenya, ratified a series of initiatives designed to support Kenya’s industrialisation and export-led development agenda. Under the terms of the initiatives, formalised at a signing ceremony with the Kenyan authorities, Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing.

    The proposed industrial parks, to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP), will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets.

    Two projects to be undertaken by Afreximbank, with the support of the Government of Kenya and other strategic collaborators, are the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II (Naivasha II), for which, having secured leases of the relevant land, Afreximbank intends to leverage the expertise and experience of Arise IIP, a special economic zone developer with experience in the development of integrated industrial parks in Africa.

    Both the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II are included in the Fourth Medium Term Plan (2023-2027) of the Kenyan government’s Vision 2030, entitled “Bottom-Up Economic Transformation Agenda for Inclusive Growth”, reflecting the high priority which state institutions are giving to measures that strengthen, expand and accelerate Kenya’s capacity to export value-added goods within Africa and globally.

    Speaking on the signing, the President of the Republic of Kenya, H.E. Dr. William S. Ruto said; “We have a responsibility to steer the country in the right direction, harnessing the immense potential of manufacturing, industrialization, agro-processing, and value addition within Special Economic Zones. The signing of these agreements today marks a significant milestone in Kenya’s development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment. We convene here today to sign an investment – and not a loan – undertaken by people whose faith in this country and its possibilities motivates their decision. This is our country, let’s continue to do whatever it takes to make it an attractive destination for those who want to invest.”

    In his own comments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said:

    “Africa has been heralded as a land of opportunity, blessed with resources that power the world. Yet, we have struggled to translate this wealth into lasting prosperity for our people. For decades, we have watched as others reap the rewards of our natural resources, leaving us tethered to a cycle of dependency—exchanging our riches for aid and loans that kept us on the fringes of the global breadbasket.

    “Those days are behind us. Today, Kenya takes a bold step to reshape this story in a profound and impactful manner. These Parks are an integral part of the Government’s plan to boost the country’s economic growth under the Vision 2030 development blueprint.

    Today’s signatures are more than ink on paper—they are a promise to the people of Kenya, a pledge that the country will rise as a beacon of industrial might and self-reliance.” 

    Mrs. Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Captain William K. Ruto, Managing Director of the Kenya Ports Authority, signed the Dongo Kundu Special Economic Zone agreement. Dr. Kenneth Chelule, Chief Executive Officer of the Special Economic Zones Authority, and Mrs. Doherty signed the Naivasha Special Economic Zone agreement, with H.E. Dr. William Ruto, President of the Republic of Kenya, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, witnessing the signing of both agreements for the State and for the Bank, respectively.

    The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole.

    The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5000 acres.

    The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway. Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda.

    Other dignitaries in attendance included Mrs Oluranti Doherty, Managing Director, Export Development, Afreximbank; Hon. Davis Chirchir E.G.H, Roads and Transport Cabinet Secretary; Hon. Hassan Ali Joho, Cabinet Secretary for Mining, Blue Economy and Maritime Affairs; Hon. Salim Mvurya, Cabinet Secretary for Youth Affairs, Creative Economy and Sports of Kenya and Honourable Lee Kinyanjui, Cabinet Secretary, Ministry of Investment, Trade and Industry. Additionally, Captain William K. Ruto, Managing Director, Kenya Ports Authority; Dr. Kenneth Chelule, Chief Executive Officer, Special Economic Zones Authority; His Excellency Abdulswamad Shariff Nassir, Governor of Mombasa County; the Honourable Benjamin Tayari, Chairman, Kenya Ports Authority, and Mr. Fredrick Muteti, EBS, Chairperson, Special Economic Zones Authority attended the event.

    MIL OSI Africa

  • MIL-OSI USA: Disaster Recovery Center Opens in Perry County

    Source: US Federal Emergency Management Agency 2

    RANKFORT, Ky — A Disaster Recovery Center will open in Perry County today, Feb. 28, in areas affected by the February floods. 
    Disaster Recovery Centers, operated by the Kentucky Division of Emergency Management and FEMA, offer in-person support to survivors in declared counties as the result of severe storms, straight-line winds, flooding, landslides and mudslides from Feb. 14, 2025, and continuing.   
    PERRY COUNTY
    Hazard Community College, 1 Old Community College Dr, Hazard, Ky 41701
    Disaster Recovery Centers operate from 7 a.m. to 7 p.m. ET Monday through Saturday and 1 – 7 p.m. on Sundays, unless otherwise noted. 
    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect 
    survivors with resources for their recovery needs. The deadline to apply for federal assistance is April 25, 2025.
    Other centers are open in the following locations:
    PIKE COUNTY
    Pike Public Library, 126 Lee Ave, Pikeville, Ky 41501
    Belfry Public Library, 24371 US-119 North, Belfry, Ky 41514
    Additional Disaster Recovery Centers will open across the Commonwealth disaster area in the coming days. 
    In addition to FEMA personnel, representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U.S. Small Business Administration (SBA) will be available at the recovery centers to assist survivors.
    You do not need to visit a center to apply with FEMA.
    If you are unable to visit the center, there are other ways to apply: you can apply online at DisasterAssistance.gov, by calling 800-621-3362, or by using the FEMA mobile app. If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA the number for that service.
    When you apply, you will need to provide:

    A current phone number where you can be contacted.
    Your address at the time of the disaster and the address where you are now staying.
    Your Social Security Number.
    A general list of damage and losses.
    Banking information if you choose direct deposit.
    If insured, the policy number or the agent and/or the company name.

    For an accessible video on how to apply for FEMA assistance, go to youtube.com/watch?v=WZGpWI2RCNw.
    For more information about Kentucky flooding recovery, visit www.fema.gov/disaster/4860. Follow the FEMA Region 4 X account at x.com/femaregion4.

    MIL OSI USA News