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Category: Business

  • MIL-OSI USA: Attorney General Bonta Issues Legal Alert Reminding Local Jurisdictions to Streamline Permitting for Electric Vehicle Charging Stations

    Source: US State of California

    Tuesday, March 18, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND – California Attorney General Rob Bonta today issued a legal alert reminding local California jurisdictions (localities) of the requirements under State law to streamline and expedite the permitting of electric vehicle (EV) charging stations. In 2015, the California Legislature adopted Assembly Bill (AB) 1236 (Chiu) (codified at Government Code section 65850.7) followed by AB 970 (McCarty) (codified at Government Code section 65850.71) in 2021, which created a state-mandated local program to streamline permits for EV charging stations. With California’s goal of transitioning the state to 100% zero-emission vehicle sales by 2035, widespread deployment of EV charging stations is key to achieving this goal and ensuring that EV charging infrastructure is available to meet growing demand. However, noncompliance with AB 1236 and AB 970 hinders California’s transition to electrification. In today’s legal alert, Attorney General Bonta highlights common compliance issues occurring statewide, as well as resources for localities to address these issues.

    “The global fight against climate change requires bold action and system solutions. Deploying electric vehicle charging infrastructure is a step in the right direction, empowering communities to transition to clean energy and reduce air pollution and greenhouse gas emissions, and in California, we have state laws that do just that,” said Attorney General Bonta. “With today’s alert, we are reminding localities that they must comply with state law in streamlining the permitting of this infrastructure, as well as removing unreasonable barriers that prevent deployment statewide, which will improve air quality and mitigate climate impacts for generations to come.”  

    Requirements Under EV Charging Streamlining Laws

    Below are key legal requirements covered by the legal alert. 

    • Localities Must Approve EV Charging Stations Ministerially. Localities must approve an EV charging station permit application unless the locality finds, based on substantial evidence, that the charging station would have a “specific, adverse impact upon public health or safety.”
    • Streamlining Laws Supersede Local Zoning Codes and Cover All Installation Types. Localities must ministerially approve EV charging permit applications regardless of siting location and local zoning regulations, and regardless of the type or size of the proposed installation.
    • Accelerated Permitting Timelines. Applications are deemed complete either 5 or 10 business days after submission depending on the number of EV charging stations proposed. Upon completion, localities have 20 or 40 business days to approve the complete permit application, depending on the number of chargers.
    • Local Ordinance Requirements. Localities must adopt ordinances that create an expedited and streamlined permitting process for EV charging stations.

    RESOURCES

    For localities seeking additional guidance or support, resources include:

    • California Building Officials, “AB 1236 Tool Kit: Electric Vehicle Charging Stations Ordinances and Staff Report Templates – Large Jurisdictions.”
    • Governor’s Office of Business and Economic Development (GO-Biz), “CA Electric Vehicle Charging Station Permit Streamlining Map.”
    • GO-Biz, “Plug-In Vehicle Readiness.”
    • GO-Biz, “Permitting Electric Vehicle Charging Stations Scorecard.”
    • GO-Biz, “Electric Vehicle Charging Station Permitting Guidebook” (2d Ed.) (Jan. 2023).
    • UC Berkeley Center for Law, Energy, & the Environment, “Equitable EV Action Plan Framework” (Dec. 2024).
    • UC Berkeley Center for Law, Energy, & the Environment, “EV Equity Roadmap.”

    A copy of the alert is available here.

    # # #

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Average price reduction due to fixation or refixation of prices under National List of Essential Medicines, 2022 resulted in estimated annual savings of approximately ₹3,788 crore to patients

    Source: Government of India

    Average price reduction due to fixation or refixation of prices under National List of Essential Medicines, 2022 resulted in estimated annual savings of approximately ₹3,788 crore to patients

    Under Pradhan Mantri Bhartiya Janaushadhi Pariyojana quality medicines are offered through Jan Aushadhi Kendras at 50% to 80% lower rates than the prices of branded medicines available in the market

    Under the Affordable Medicines and Reliable Implants for Treatment (AMRIT) initiative, medicines, implants, surgical disposables and other consumables are provided at significant discounts of up to 50% of market rates through AMRIT Pharmacy stores

    Posted On: 18 MAR 2025 4:37PM by PIB Delhi

    The Ministry of Health and Family Welfare notifies the National List of Essential Medicines (NLEM), which is incorporated as Schedule-I to the Drugs (Prices Control) Order, 2013 (DPCO, 2013). The National Pharmaceutical Pricing Authority (NPPA) under the Department of Pharmaceuticals (DoP) fixes ceiling prices of these scheduled medicines in accordance with the provisions of DPCO, 2013. All manufacturers and marketers of scheduled medicines are required to sell their products within the ceiling price (plus applicable Goods and Service Tax) fixed by the NPPA. Further, NPPA fixes the retail price of new drugs, as defined in DPCO, 2013. For applicant manufacturers and their marketers, who too are required to sell the new drug within the price notified by NPPA. In respect of non-scheduled formulations, manufacturers are required to not increase the Maximum Retail Price of the drugs launched by them by more than 10% during the preceding 12 months. As on 12.3.2025, ceiling prices of 928 scheduled formulations and retail prices of over 3,200 new drugs stood fixed by NPPA. The average price reduction due to fixation or refixation  of prices under NLEM, 2022 was about 17%, resulting in estimated annual savings of approximately ₹3,788 crore to patients. Details of prices fixed by NPPA are available on its website (www.nppaindia.nic.in ).

    Besides price regulation, Government has also enabled access to affordable essential medicines through Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), under which quality medicines are offered through Jan Aushadhi Kendras (JAKs) at rates that are typically 50% to 80% lower than the prices of branded medicines available in the market. In addition, under the Affordable Medicines and Reliable Implants for Treatment (AMRIT) initiative of the Department of Health and Family Welfare, medicines for the treatment of cancer, cardiovascular and other diseases, implants, surgical disposables and other consumables etc. are provided at significant discounts of up to 50% of market rates through AMRIT Pharmacy stores set up in some hospitals/institutions. Also, to ensure availability of essential drugs and reduce out-of-pocket expenditure of patients visiting public health facilities, Government has rolled out the Free Drugs Service Initiative under the National Health Mission under which  financial support is provided to State and Union Territory Governments for 106 drugs at the Sub-Health Centre level, 172 drugs at the Primary Health Centre level, 300 drugs at the Community Health Centre level, 318 drugs at the Sub-District Health level and 381 drugs at the District Hospitals.

    Currently, 2,047 medicines and 300 surgicals, medical consumables and devices are under the PMBJP scheme product basket, covering all major therapeutic groups, such as cardiovascular, anti-cancers, anti-diabetic, anti-infectives, anti-allergic and gastro-intestinal medicines and nutraceuticals etc. The Department of Pharmaceuticals has set the target to increase the product basket to 2,100 medicines and 310 surgicals, medical consumables and devices by 31.3.2025.

    The prices of both scheduled and non-scheduled drugs are monitored by NPPA. Monitoring activities are based on references from State/UT Price Monitoring Resource Units (PMRUs), State Drugs Controllers (SDCs), market samples, market-based databases and complaints received through the Pharma Jan Samadhan (PJS) portal, Centralised Public Grievance Redress and Monitoring System (CPGRAMS)  and other reliable sources. Instances of overcharging are dealt with by NPPA under relevant provisions of DPCO, 2013.

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

    *****

    MV/AKS

    (Release ID: 2112308) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Written question – Tackling fake reviews and building trust in digital services – E-001009/2025

    Source: European Parliament

    Question for written answer  E-001009/2025
    to the Commission
    Rule 144
    Dimitris Tsiodras (PPE)

    Consumers increasingly rely on ratings and reviews from other consumers when buying a product or service. However, around one in two consumers[1] reported that they were unable to find information on whether a company ensures that the reviews published were submitted by real customers and on how reviews were collected. Although misleading practices relating to consumer reviews are covered by the directive on unfair commercial practices and better enforcement and modernisation of Union consumer protection rules and the Digital Services Act, the problem remains significant.

    Can the Commission say:

    • 1.What steps will it take to ensure that the sale, purchase and submission of fake reviews are banned and that such reviews are removed when found online, so as to ensure that the reviews published come from consumers who have actually used or bought the service or product?
    • 2.How will existing legislation be implemented to address practices of altering consumer ratings, for example when only positive reviews are published and negative ones deleted?

    Submitted: 7.3.2025

    • [1] SWD(2024) 230, Fitness check of EU consumer law on digital fairness
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – Test 1 Vanessa – 09-10-2024

    Source: European Parliament

    In July 2023, the European Commission tabled a package of three proposals for the greening of freight transport. Among them is a proposal for a single methodology for calculating greenhouse gas (GHG) emissions from transport services, referred to as CountEmissionsEU. The initiative covers both freight and passenger transport. It seeks to ensure that GHG emissions data provided regarding transport services are reliable and accurate, to allow fair comparison between transport services. It establishes a methodological framework but does not govern where it has to be used. Nonetheless, if an organisation decides to calculate and disclose information on GHG emissions from transport services it needs to use the methodology provided. To avoid extra red tape for small and medium-sized enterprises, the proposal exempts these companies from mandatory verification of adherence to the rules. In the European Parliament, the file has been dealt with through the joint committee procedure, involving the Committees on Transport and Tourism and on the Environment, Public Health and Food Safety. The committees adopted their joint report on 4 March 2024. Parliament voted on its first-reading position during its April I plenary session. The new Parliament will now decide whether to enter into trilogue negotiations with the Council.

    MIL OSI Europe News –

  • MIL-OSI Europe: Economic forecast: below-average growth, high degree of uncertainty

    Source: Switzerland – Department of Economic Affairs, Education and Research

    The Federal Government Expert Group on Business Cycles has slightly lowered its growth forecast for the Swiss economy. In 2025, GDP adjusted for sporting events is expected to grow by 1.4%, followed by 1.6% in 2026 (December forecasts: 1.5% and 1.7% respectively). [1] This would mean the Swiss economy would continue to grow below its historical average for another two years. These forecasts presuppose that there will be no escalating global trade war. In view of the considerable uncertainty, SECO has formulated two alternative scenarios to supplement the expert group’s forecast.

    MIL OSI Europe News –

  • MIL-OSI Europe: Croatia’s investment momentum remains strong in 2024, but competitiveness challenges persist

    Source: European Investment Bank

    • Croatia’s economy grew steadily in 2024, supported by EU funds, the euro adoption, and financial instruments like EFSI and InvestEU
    • Key barriers: 84% of Croatian exporters face differing EU regulations, digital adoption lags behind (62% vs. EU’s 74%), and energy costs remain high.
    • A conference jointly organised with the Croatian National Bank explored the EIB Investment Survey 2024 for Croatia and the EIB Investment Report 2024/2025, highlighting solutions such as market integration, green investments, and mobilizing private co-investors.

    The Croatian economy kept the strong dynamic during 2024 after the rebound in 2022-2023. This was possible thanks to collective efforts by European Union Member States, the Recovery and Resilience Facility, EU funds and financial instruments like EFSI and InvestEU. Moreover, the euro adoption in Croatia represented a strategic shift and new business opportunities, driving the good investment momentum.

    Nevertheless, in the new geopolitical context, in order to increase competitiveness, the urgency of further action is enhanced both for the EU as a whole and for Croatia. According to the new EIB Investment Report 2024/2025, the solution toolkit comprises: (1) unlocking business opportunities via market integration and simplification (2) leveraging European strengths such as green leadership and an inclusive social model (3) maximising the impact of public-sector intervention through targeted support, EU coordination and focus on incentives that mobilise private co-investors.

    According to the latest EIBIS for Croatia, the business environment remains a concern. The availability of skilled staff, uncertainty about the future and energy costs remain the top three investment barriers while more than eight in 10 Croatian exporters (84%) report having to comply with different standards and consumer-protection rules across EU countries, above the EU average (60%). Moreover, there is a continued need of transformative investments as adoption of advanced digital technologies in Croatia is below EU peers (62% versus 74% respectively). Moreover, although most of Croatian firms (87%) have taken measures to reduce greenhouse gas emissions, in line with EU firms, there is still more to do for all EU countries. Croatian firms are also less likely than EU firms to have invested in sustainable transport options and energy efficiency.

    At an event in Zagreb organised jointly with the Croatian National Bank (CNB), the European Investment Bank (EIB) today discussed the  EIB Investment Survey 2024 for Croatia  and key policy messages of the EIB Investment Report 2024/2025: Innovation, integration and simplification in Europe, focusing on the new insights on Croatian companies’ challenges and opportunities.

    Opening remarks were made by EIB Vice-President Teresa Czerwińska, Croatian National Bank Governor Boris Vujčić and Deputy Prime Minister and Minister of Finance Marko Primorac. A presentation by Debora Revoltella, the EIB’s chief economist, assessed the state of the EU and Croatian economies through the EIBIS lens to understand their current performance, business prospects, concerns and enablers for a coordinated policy response.

    Croatian National Bank Governor Boris Vujčić said: “Croatia and the whole of Europe have been facing major challenges in preserving competitiveness in an unstable global environment. In order for Croatian companies to be able to leverage growth opportunities, it is necessary to provide them with access to venture capital and alternative financing sources as well as to strengthen links between European capital markets. This conference provides us with an opportunity to jointly discuss present obstacles and new solutions for the financing of growth and innovations in order to ensure that the Croatian economy remains competitive in a rapidly changing world.”

    EIB Vice-President Teresa Czerwińska said: “The EIB Investment Survey, conducted across all EU member states, provides a powerful policy tool to better understand the challenges and barriers, helping to create our strategy and to respond to the identified market gaps with targeted policy response. To address the gap of scale-up financing, the EIB Group provides a diversified type of financing for corporates: loans, guarantees, venture debt and private equity. For Croatia in particular, we reinforced during 2024 the innovation ecosystem with investments in equity funds through the Croatian Venture Capital Initiative 2 (CVCi 2) and the Croatian Growth Investment Programme II (CROGIP II), benefiting hundreds of startups and high-growth enterprises.”

    “In the context of mounting pressure from international competition, Europe could reinforce its position as a global technology leader by focusing on three areas: market integration, simplification and large-scale investment in innovation,” said EIB Chief Economist Debora Revoltella “For large-scale investments for innovation and transformation, European firms need market scale to remain globally competitive. Larger and deeper capital markets are instrumental to mobilising higher-risk finance for innovation and the green transformation.”

    The panel discussion in the second session of the conference, composed of representatives of the EIB Group and players in the local financial market such as the Zagreb Stock Exchange, the Croatian Financial Services Supervisory Agency (HANFA) and co-founders of innovative startups, discussed the availability of growth finance for Croatian firms, the role of the stock market, private equity funds and financial market integration and depth. Both the Croatian and the EU financial systems are still ill-suited to properly finance the green and digital transformations and the high-growth innovative segment, especially on the scale-up face. The European financial system depends heavily on banking and this focus continues to constrain specific investment as firms do not have many alternative funding sources to support risky investments, especially in the early stage of growth. Nevertheless, recent initiatives for alternative financing of Croatian firms are encouraging. Moreover, reducing the fragmentation of EU capital markets and simplifying regulation may offer a better and more productive use of Europe’s substantial savings.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Group’s New Financing in Croatia Reaches Record €1.24 Billion in 2024

    Source: European Investment Bank

    • EIB Group financing in Croatia rose to €1.24 billion last year from €464 million in 2023.
    • Focus on Croatian railways, cities and businesses in record year for commitments.
    • Climate action in Croatia received €721 million in support last year.

    The European Investment Bank (EIB) Group’s new financing in Croatia has reached a record level of €1.24 billion last year, with major support aimed at greening transport, cities and businesses. The total financing for 2024 included €937 million from the EIB and €303,2 million from the European Investment Fund (EIF), which focuses on small and medium-sized enterprises (SMEs) as well as Mid-Caps in Europe.

    EIB Group financing in Croatia last year amounted to 1.4% of its gross domestic product (GDP), whereof a third dedicated to the support of  Croatian SMEs and Midcaps throughout the intermediation of the Croatian banking system. The level of support rose 167% from €464 million in 2023.

    The largest EIB loan signed last year was a €400 million financing to the Croatian government to upgrade and expand rail infrastructure and services throughout the country – part of a €900 million agreement that marks the EIB’s largest-ever financing operation in Croatia. Other key initiatives included EIB loans of €207 million to the city of Zagreb to promote renewable energy, affordable housing and public transport, €200 million to the Croatian Bank for Reconstruction and Development, or HBOR, to expand green and other financing for a range of companies and €30 million financing for the increase of renewable energy production (Kiepach/ Go Green project) implemented by HEP.

    “Our record investments in Croatia in 2024 are a testament to our unwavering commitment to the country’s sustainable growth,” said EIB Vice-President Teresa Czerwińska. “We are deepening our engagement, unlocking new financing for businesses, modernising critical infrastructure and promoting innovation. Working closely with national and local authorities as well as with private-sector partners, we are helping to build a greener, more competitive and resilient Croatia.”

    The latest annual results bring total EIB Group financing in Croatia over the past five years to almost €3.1 billion. The annual average in the country since 2020 has been €613 million.

    Green gains, social support and firm financing

    Last year, projects to advance climate action and environmental sustainability in Croatia received EIB Group support totalling €721 million.

    The €400 million loan to the Croatian government in 2024 is meant to improve rail travel for 22 million passengers annually, accelerate regional development, encourage a shift away from road transport and reduce emissions that cause climate change.

    The €207 million loan to Zagreb reflects increased EIB Group support for Croatian cities to promote cleaner energy, urban mobility and essential cultural and social infrastructure such as schools, kindergartens and affordable housing. Such financing also helps cities absorb faster the grants from the European Union.

    In response to a rising need for affordable homes, the EIB last year also agreed to provide advisory services to five major Croatian cities: Zagreb, Split, Rijeka, Osijek and Varaždin. The goal is to help expand social housing and promote inclusive urban development.

    In the area of business financing, the €200 million loan to HBOR is part of a €500 million approved commitment to help Croatian companies lower their carbon footprint and become more sustainable. The EIB is also advising HBOR and other key financial institutions in Croatia on enhancing their green-funding capacity.

    The EIF teamed up with the EIB to offer €169 million to Privredna Banka Zagreb and €160 million to Erste Croatia to expand financing for businesses. The EIF further reinforced Croatia’s innovation ecosystem with investments in equity funds through the Croatian Venture Capital Initiative 2 (CVCi 2)  and the Croatian Growth Investment Programme II (CROGIP II), benefiting hundreds of start-ups and high-growth enterprises. EIF’s equity fund investments in the country also included one of its first commitments to a CEE-based infrastructure fund and, additionally, €40 million was pledged to the Vesna Deep Tech Venture Fund, supporting Croatia’s first technology transfer fund that also represents a cross-border initiative with Slovenia, fostering innovation and collaboration between academia and businesses. Altogether, the EIF experienced a record year in Croatia in terms of investments in funds managed by local teams, which now cover a broad range of strategies, from early-stage venture capital, technology transfer, growth investments and social impact to investments in infrastructure projects.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: Team Europe provides nearly €60 million for digital connectivity in rural Central Asia

    Source: European Investment Bank

    EIB

    • A €34.4 million EU grant and a €25.45 million EIB Global loan will support access to broadband services through satellite connectivity in approximately 1 600 villages in Central Asia.
    • The financial package will enable the deployment of satellite terminal antennas connected to SES’ medium earth orbit satellite network.
    • This Team Europe initiative aims to empower approximately three million people in remote areas by providing fast and reliable internet access.

    EIB Global – the European Investment Bank’s global arm – and the European Commission have signed a financial package worth almost €60 million with SES, a Europe-based provider of satellite-enabled content and connectivity solutions.This initiative aims to deliver satellite connectivity to remote rural areas in Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.

    Nearly half of the population in Central Asia does not have access to the internet. The project aims to reduce this figure by bringing broadband internet services to approximately 1 600 underserved villages across rural areas in the region. These communities currently have no access to broadband services, leaving millions without connection to the digital world. Through satellite technology, high-speed internet can be deployed in these remote areas, transforming the lives of an estimated three million people. This initiative will help to bridge the digital gap and also support Central Asia’s broader transition to a digital economy.

    “Beyond simply connecting people, connectivity infrastructures are pathways to education, healthcare and economic opportunities. This initiative is helping to address the digital divide and promoting global connectivity, which is a priority for EIB Global. This is an excellent example of cooperation under Team Europe for digital inclusion and human empowerment, and will also provide the European Union’s partners in Central Asia with know-how and expertise on secure and trusted digital connections,” said EIB Vice-President Kyriacos Kakouris, who oversees the Bank’s operations in Central Asia.

    This project is fully aligned with the European Union’s Global Gateway initiative, which promotes investment in secure and sustainable infrastructure to connect people and improve lives across the world. It serves as a key driver of the Team Europe initiative for digital connectivity in Central Asia.

    “The European Union and Central Asia are working together to improve the internet connection in the whole region. European technology and our Central Asian partners’ expertise can ensure that more people have access to fast and secure internet, supporting business growth, creating new jobs and improving living conditions in local communities. By investing in digital connectivity, we are bridging gaps, creating opportunities, and ensuring that Central Asia has the necessary resources to benefit fully from the digital economy,” said European Commissioner for International Partnerships Jozef Síkela.

    The project will leverage SES’s O3b mPOWER medium earth orbit satellite network expansion, which is partially financed by the EIB through a €125 million loan provided earlier this year. The satellite network expansion will facilitate the delivery of high-speed broadband services to these remote areas, ensuring reliable and scalable digital infrastructure.

    “Securing this combined EU grant and EIB Global loan demonstrates that SES’ financial foundation is solid and that it is trusted by European institutions to provide reliable satellite services. SES has already done great work on large-scale digital inclusion projects by investing in satellite systems that deliver seamless connectivity in the most remote parts of the world. We are looking forward to reaping the benefits of O3b mPOWER in Central Asia, accelerated by the European Investment Bank’s partial funding to expand our MEO satellites,” said Global Head of Enterprise and Cloud at SES Nadine Allen.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

    About SES

    SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous orbit fleet and medium earth orbit (GEO-MEO) constellation of satellites, offering a combination of global coverage and high-performance services. Using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). 

    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
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    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
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    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
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    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
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    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Global helps improve air traffic control system in Serbia and Montenegro

    Source: European Investment Bank

    • The EU bank is investing €25 million to make the air navigation system in Serbia and Montenegro safer and more efficient.
    • The loan will help to develop and implement cutting-edge software in line with the highest standards of the Single European Sky initiative.
    • As one of its leading supporters, EIB Global has invested €6.6 billion so far in the transport sector in the Western Balkans, helping to make transport networks in the region safer and more sustainable.

    The European Investment Bank (EIB Global) will provide a €25 million loan to upgrade the air navigation control system in Serbia and Montenegro. State-of-the-art equipment and software will enable SMATSA, the air navigation service provider in both countries, to implement the highest operational and safety standards, ensuring interoperability and optimising flight routes. The project aims to make air traffic management over Serbia and Montenegro more efficient, improving safety and delivering environmental benefits to European air travel.

    The investment will be used to develop a new software solution for air traffic management in line with the requirements set out by Eurocontrol (the European Organisation for the Safety of Air Navigation) and the Digital European Sky strategy, contributing to digitalisation and automation. This initiative will enable SMATSA – which currently manages around 9% of all European flights – to keep abreast of the latest technologies, while also improving the connections between its control centers in Belgrade, Podgorica, Tivat, Batajnica, Kraljevo and Niš. In this way, the project will help reduce operational costs, shorten flight times, minimise delays and CO2 emissions, while improving connectivity within the Western Balkans and with the EU.

    Co-financed by the European Bank for Reconstruction and Development (EBRD), this project is part of the European Commission’s Economic and Investment Plan aimed at fostering connectivity and regional integration. As one of its leading supporters, EIB Global has invested €6.6 billion in total in the transport sector in the Western Balkans, helping to create safer and more sustainable transport networks in the region.

    MIL OSI Europe News –

  • MIL-OSI Security: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: United States Attorneys General

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL Security OSI –

  • MIL-OSI Security: Norman Man Sentenced to Serve 18 Months in Federal Prison after Tossing Molotov Cocktail at Norman Business

    Source: Office of United States Attorneys

    OKLAHOMA CITY – Today, TIM RIXT BRENS, 31, of Norman, was sentenced to serve 18 months in federal prison for possession of an illegal Molotov cocktail, announced U.S. Attorney Robert J. Troester.

    On October 1, 2024, a federal Grand Jury charged Brens with possession of an unregistered destructive device, a Molotov cocktail. According to public record, on May 16, 2024, a crew with the Norman Fire Department (NFD) responded to a reported grass fire in the city. On scene, NFD observed a grass fire that had partially burned a building belonging to a towing and recovery business. NFD crews extinguished the fire and located evidence that indicated the fire was started by a Molotov cocktail. NFD reviewed surveillance footage taken from a business across the street, and observed an individual arrive in a black sports car, get out of the vehicle, and toss a Molotov cocktail at the building before fleeing in the car. An investigation into the vehicle led authorities to Brens. NFD authorities learned that Brens had another vehicle which had recently been towed to the business, that Brens was angry at the amount of money the business required to retrieve his vehicle, and that the vehicle had been sold by the towing company. 

    On November 26, 2024, Brens pleaded guilty and admitted to possessing the illegal Molotov cocktail.

    At the sentencing hearing today, U.S. District Judge David L. Russell sentenced Brens to serve 18 months in federal prison, followed by three years of supervised release. In announcing his sentence, Judge Russell noted that the circumstances of the crime were dangerous and could have resulted in far more extensive damage than was ultimately caused. The judge then emphasized the need to promote deterrence to those who might engage in similar activity and highlighted the need to promote respect for the rule of law.

    This case is the result of an investigation by the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Norman Fire Department. Assistant U.S. Attorneys Stan J. West and Daniel Gridley prosecuted the case.

    Reference is made to public filings for additional information. 

    MIL Security OSI –

  • MIL-OSI Australia: No interest loans locked in to help ease cost of living

    Source: Ministers for Social Services

    The Albanese Labor Government is locking in no interest loans for the next five years with an additional $48.7 million to support Australians with the cost of living.

    The funding boost to the No Interest Loans program (NILs) will allow Good Shepherd Australia New Zealand in partnership with National Australia Bank (NAB) to continue providing no-fee, no-interest loans for essentials to eligible people.

    More than one million Australians have already benefited from NILs.

    Good Shepherd administers the scheme, with NAB providing the loan capital. The loans can be used for urgent, critical household purchases and for vehicles for transport to work and essential day-to-day use.

    Minister for Social Services, Amanda Rishworth, said the Government’s investment will help ease cost of living pressures for many Australians who need support.

    “We’re proud to support Good Shepherd and NAB to deliver no-interest loans as an alternative to other high risk, high interest products such as Buy Now Pay Later products and payday loans,” Minister Rishworth said.

    “NILs provides support that is usually unavailable to low-income earners through mainstream providers, meaning tens of thousands of vulnerable Australians can purchase the essential things they need.

    “These loans also really help people achieve independence and financial recovery in escaping family, domestic, and sexual violence. And having access to a vehicle gives many Australians the ability and independence to work, study, provide care or seek medical care.”

    The NILs program is a great example of successful partnerships with industry. The Government has provided funding to Good Shepherd for the administration of NILs since 2009. Around 25,000 general NILs loans are provided each year while nearly 10,000 NILs for Vehicles loans have been provided since this program started in 2021.

    Good Shepherd Australia New Zealand CEO Stella Avramopoulos said: “Through powerful partnerships and expanded reach, including into the Northern Territory and First Nations communities, NILs is breaking down barriers, empowering women, sole parents and families, especially those escaping domestic violence, to achieve lasting financial independence and wellbeing.

    “With 25 per cent of recipients being sole parents and 18 per cent survivors of family and domestic violence, this support isn’t just about financial assistance — it’s about providing dignity, stability, and a pathway to a better future.

    “This work is only possible because of the strength of collaboration between not-for-profits, corporates such NAB, and government. Together, we’re creating meaningful, lasting change — removing credit barriers, preventing predatory lending, and ensuring vulnerable Australians, particularly those in regional and remote communities, have access to the resources they need to recover and rebuild.”
     
    NAB Executive Sustainability Jessica Forrest said: “NILs is NAB’s longest-standing community partnership, with more than $560 million in zero-interest capital provided over 21 years. Together, we are helping more Australians access credit for life’s essentials.

    “NAB is proud to provide the loan capital that supports the Good Shepherd NILs program, and pleased to keep working with Government on backing this longstanding program. This funding will ensure more people continue to get the support they need.

    “Too often, people in financial stress turn to high-interest payday loans. No interest loans offer a safer alternative, helping Australians borrow money without having to pay any fees or interest.”

    NILs assists vulnerable Australians to access affordable loans up to $3,000 for household goods, such as fridges, washing machines and furniture, as well as education and medical expenses.

    NILs for Vehicles loans up to $5,000 can be used to purchase cars, mobility scooters and related costs such as registration or maintenance expenses.

    Individuals can apply for NILs at over 600 locations across Australia. They are available to individuals and families who can service the loan and who:

    • earn less than $70,000 gross annually as a single person or $100,000 gross as a couple or person with dependants, or
    • have experienced family or domestic violence in the last 10 years, or
    • have a Health Care Card or Pension Card.

    More information about NILs is available on the Good Shepherd Australia New Zealand website.

    MIL OSI News –

  • MIL-OSI: Jaynie Studenmund to Retire From EXL Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, today announced that Jaynie Studenmund has notified EXL’s board of directors that she will not stand for re-election at EXL’s 2025 annual meeting of stockholders and will serve out her current term on the board through June 2025.

    “On behalf of EXL and its board of directors, we are grateful for the valuable contributions Jaynie has made to the company,” said Rohit Kapoor, chairman and chief executive officer. “Jaynie’s extensive experience with early adopters of digital technology and business model disruption was extremely valuable as we transformed EXL to a leading data and AI company, growing stockholder value over 350% during her tenure on the board.”

    Vikram Pandit, lead director of the board of EXL said, “For seven years, Jaynie’s leadership and guidance as a member of both the Audit and the Compensation and Talent Management Committees, serving as chair of the latter, have greatly benefited the company, and we thank her for her wisdom and dedication. We wish her and her family all the best.”

    “It has been a privilege to serve on EXL’s board,” said Studenmund. “I have truly enjoyed being part of an incredible transformation journey over the last seven years. Today, EXL is winning in the quickly evolving data and AI arena, and I look forward to following its continued success as I refocus my professional activities to the West Coast.”

    About ExlService Holdings

    EXL (NASDAQ: EXLS) is a global data and artificial intelligence (“AI”) company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 59,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Univest Securities, LLC Announces Closing of $12 Million Best Efforts Offering for its Client Bon Natural Life Limited (NASDAQ: BON)

    Source: GlobeNewswire (MIL-OSI)

    New York, New York, March 18, 2025 (GLOBE NEWSWIRE) — Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of Best Efforts Offering (the “Offering”) for its client Bon Natural Life Limited (NASDAQ: BON) (the “Company”), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries.

    The offering of ordinary units (or pre-funded units in lieu of such ordinary units) comprised of 8,333,332 shares of the Company’s Class A ordinary shares (or pre-funded warrants in lieu of Class A ordinary shares for the pre-funded units), Series A Warrants to purchase one Class A ordinary shares at an exercise price of $1.44 per share (the “Series A Warrants”) and Series B Warrants to purchase Class A ordinary shares at an exercise price of $2.16 per share (the “Series B Warrants” and, together with the Series A Warrants, the “Warrants”). The pre-funded warrant will be exercisable immediately upon issuance and will expire when exercised in full. The Warrants will be immediately exercisable upon issuance and will expire on the three-year anniversary of their initial exercise date.

    The purchase price of each ordinary unit will be $1.44, and the purchase price of each pre-funded unit will be equal to such price minus $0.001.

    The aggregate gross proceeds to the Company was approximately $12 million, before deducting placement agent fees and other estimated expenses payable by the Company. The Company intends to use the net proceeds from this offering for sales network expansion, research and development, production capacity expansion, and working capital and other general corporate purposes.

    Univest Securities, LLC acted as the sole placement agent.

    The securities described above are being offered by the Company pursuant to a registration statement on Form F-1 (File No. 333-283333), as amended, previously filed and declared effective by the Securities and Exchange Commission (the “SEC”). A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.

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

    About Univest Securities, LLC

    Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us.

    About Bon Natural Life Limited

    BON is a Cayman Islands company engaged in the business of natural, health, and personal care industries. For more information, please visit http://www.bnlus.com.

    Forward-Looking Statements

    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. Univest Securities LLC and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    For more information, please contact:

    Univest Securities, LLC
    Edric Guo
    Chief Executive Officer
    75 Rockefeller Plaza, Suite 18C
    New York, NY 10019
    Phone: (212) 343-8888
    Email: info@univest.us

    The MIL Network –

  • MIL-OSI: PIMCO Canada Corp. Announces Special Reinvested Distribution for PIMCO Global Income Opportunities Fund for 2024 Year-End

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States newswire services or for dissemination in the United States

    TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — PIMCO Canada Corp. (“PIMCO Canada”) announced today that a special reinvested income distribution on the Class A Units (the “Units”) of PIMCO Global Income Opportunities Fund (TSX: PGI.UN) (the “Fund”) in the amount of $0.25496 per Unit was paid on January 15, 2025, to the holders of record at the close of business on December 31, 2024. This amount is for the reinvested distribution only, and does not include the ongoing monthly cash distribution amount, which was announced in a separate press release on December 18, 2024.

    The reinvested distribution was reinvested in Units of the Fund and the resulting Units were immediately consolidated, so that the number of Units held by each unitholder did not change. Unitholders holding their Units outside registered plans will have taxable amounts to report and an increase in the adjusted cost base of their Units.

    The Manager, PIMCO Canada, retains Pacific Investment Management Company LLC (“PIMCO”), to provide investment management services to the Fund.

    About PIMCO

    PIMCO was founded in 1971 in Newport Beach, California and is one of the world’s premier fixed income investment managers. Today we have offices across the globe and 3,000+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

    This is not an offer to sell Units and not a solicitation of an offer to buy Units in any region where the offer or sale is not permitted. Before you invest, you should carefully read the Fund’s disclosure documents and consider carefully the risks you assume when you invest in the Units. There can be no assurance that the Fund will achieve its investment objectives or be able to structure its investment portfolio as anticipated. Copies of the Fund’s disclosure documents may be obtained from your financial advisor.

    Forward-Looking Statements

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund, PIMCO Canada and/or PIMCO’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Fund, PIMCO Canada and/or PIMCO believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, PIMCO Canada and/or PIMCO undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.

    You will usually pay brokerage fees to your dealer if you purchase or sell Units on the Toronto Stock Exchange (the “TSX”). If the Units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying Units and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning Units. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in these documents. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    The Fund is a closed end exchange traded investment fund. Closed end funds, unlike open end funds, are not continuously offered. After the initial public offering, shares of closed end funds are sold on the open market through a stock exchange. For additional information, contact your financial advisor.

    For a summary of the risks of an investment in the Fund, please see the Principal Risks of the Fund section of the prospectus. Units of closed end funds frequently trade at a discount to their net asset value, which may increase risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

    PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager, and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2025, PIMCO

    The products and services provided by PIMCO Canada Corp. may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose.

    PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.

    PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2, 416-368-3350

    Contact:
    Agnes Crane
    PIMCO – Media Relations
    Phone: +212 597.1054

    The MIL Network –

  • MIL-OSI: Canadian Net REIT Announces 2024 Fourth-Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    MONTRÉAL, March 18, 2025 (GLOBE NEWSWIRE) — Canadian Net Real Estate Investment Trust (“Canadian Net” or the “REIT”) (TSX-V: NET.UN) today reported its results for the quarter ended December 31st, 2024 (“Q4 2024”). The REIT also announced distributions for the months of April, May and June 2025.

    “We are very pleased with the achievements we made with our capital recycling initiatives during the year, which will materialize in 2025″ said Kevin Henley, President and CEO of the REIT. “As we close the year, we can clearly state that 2024 was a pivot year for CNET. The proceeds from the sale of five gas station properties in 2024 were successfully reinvested into four high-quality, necessity-based retail properties leased to national triple-A tenants. Three of these acquisitions were completed shortly after year-end, and all are immediately accretive to FFO per unit1 while enhancing the quality and resilience of our portfolio. As we move into 2025, our portfolio remains at 100% occupancy and is well positioned to weather today’s macroeconomic environment.”

    RESULTS FOR Q4 2024

    Canadian Net reported Funds from operations1 (“FFO”) of $3.25 million, or $0.158 per unit compared to $3.34 million, or $0.162 per unit for the quarter ended December 31, 2023 (“Q3 2023”). Normalized FFO1 for the quarter was in line with FFO and FFO per unit.

    Rental income was $6.8 million in Q4 2024, a decrease of 6.4% from Q4 2023. Net Operating Income (“NOI”)1 in Q4 2024 was $4.8 million, a decrease of 2.8% from Q4 2023, reflecting a decline in rental income due to property dispositions as part of our capital recycling initiative.

    The REIT generated a net income attributable to unitholders of $1.8 million in Q4 2024 compared to net income of $4.3 million in Q4 2023.

    RESULTS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2024

    Canadian Net reported FFO1 of $12.36 million, or $0.601 per unit compared to $13.06 million, or $0.635 per unit for the 12-month period ended December 31, 2023. Normalized FFO1 was $12.56 million, or $0.611 per unit compared to $13.06 million, or $0.635 per unit for the same period in 2023.

    Rental income was $26.1 million for the 12-month period ended December 31, 2024, a decrease of 1.6% from the same period in 2023. NOI1 over the 12-month period ended December 31, 2024 was $18.9 million, a decrease of 2.6% from the same period in 2023, reflecting a decline in rental income due to property dispositions as part of our capital recycling initiative.

    The REIT generated a net income attributable to unitholders of $7.1 million for the 12-month period ended December 31, 2024 compared to net income of $18.2 million for the same period last year.

    The decrease in FFO1 and Normalized FFO1 is derived from higher interest charges on mortgage renewals, decreases in rental income due to property dispositions and straight-line rent adjustments associated with the property dispositions. The decrease is partially offset by lower interest charges on credit facilities, convertible debentures, mortgages associated with the dispositions, and rental income from a property acquisition in Q4. The decrease in NOI1 primarily reflects the sale of properties in 2023 and 2024. Finally, the variance in net income attributable to unitholders is primarily attributable to the change in the fair value of investment properties.

    DISTRIBUTIONS

    Canadian Net announced that it will make monthly cash distributions of $0.02875 per unit, representing $0.345 per unit on an annualized basis, on April 30th, May 29th and June 30th, 2025, to unitholders of record on April 15th, May 15th and June 15th, 2025, respectively.

    The tables below represent other financial highlights and the reconciliations of certain non-IFRS measures for Q4 2024 and Q4 2023. This information should be read in conjunction with the Audited Consolidated Financial Statements and Management’s Discussion & Analysis (“MD&A”) for the quarters ended December 31st, 2024 and December 31st, 2023.

    SUMMARY OF SELECTED FINANCIAL INFORMATION

      12 months
    		     
    Periods ended December 31 2024   2023   Δ %
    Financial info            
    Property rental income 26,123,869   26,550,527   (426,658 ) (2 %)
    Net income and comprehensive income 7,103,541   18,221,826   (11,118,285 ) (61 %)
    NOI (1) 18,917,202   19,431,563   (514,361 ) (3 %)
    FFO (1) 12,355,243   13,059,460   (704,217 ) (5 %)
    Normalized FFO (1) 12,563,157   13,059,460   (496,303 ) (4 %)
    AFFO (1) 11,593,473   11,723,180   (129,707 ) (1 %)
    EBITDA (1) 13,939,769   25,493,840   (11,554,071 ) (45 %)
    Adjusted EBITDA (1) 18,519,338   19,764,765   (1,245,427 ) (6 %)
    Investment properties 275,478,504   277,842,384   (2,363,880 ) (1 %)
    Adjusted investment properties (1) 325,032,772   331,142,874   (6,110,102 ) (2 %)
    Total assets 301,321,985   308,350,346   (7,028,361 ) (2 %)
    Mortgages 132,194,629   134,689,255   (2,494,626 ) (2 %)
    Long-term debt –   30,000   (30,000 ) (100 %)
    Current portion of mortgages, long term-debt and convertible debentures 16,179,507   13,804,643   2,374,864   17 %
    Mortgages on investment properties held for sale –   2,780,439   (2,780,439 ) (100 %)
    Credit facilities 13,240,000   15,965,362   (2,725,362 ) (17 %)
    Total convertible debentures 5,898,927   7,436,529   (1,537,602 ) (21 %)
    Total equity 129,440,950   129,487,381   (46,431 ) –  
    Weighted average units o/s – basic 20,553,943   20,566,316   (12,373 ) –  
    Amounts on a per unit basis            
    FFO(1) 0.601   0.635   (0.034 ) (5 %)
    Normalized FFO(1) 0.611   0.635   (0.024 ) (4 %)
    AFFO(1) 0.564   0.570   (0.006 ) (1 %)
    Distributions 0.345   0.345   –   –  
    (1) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the sections “Non-IFRS financial measures”.
     

    NON-IFRS FINANCIAL MEASURES

    The Trust’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this press release, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain non-IFRS financial measures: FFO, Normalized FFO, FFO per unit, Normalized FFO per unit, AFFO, AFFO per unit, NOI, and Adjusted Investment Properties. These non-IFRS measures are not defined by IFRS, do not have a standardized meaning, and may not be comparable with similar measures presented by other issuers. Canadian Net has presented such non-IFRS measures as management of the Trust believes they are relevant measures of Canadian Net’s underlying operating performance and debt management. Non-IFRS measures should not be considered as alternatives to net income, cash generated from (utilized in) operating activities, or comparable metrics determined in accordance with IFRS as indicators of the Trust’s performance, liquidity, cash flow, and profitability. Information appearing in this news release is a select summary of results. This news release should be read in conjunction with the condensed consolidated financial statements and MD&A for the Trust. Please refer to the “Non IFRS Financial Measures” section in Canadian Net’s management’s discussion and analysis for the period ended December 31, 2024, available under Canadian Net’s profile on SEDAR+ at www.sedarplus.ca for a full description of these measures and, where applicable, a reconciliation to the most directly comparable measure calculated in accordance with IFRS. Such explanation is incorporated by reference herein.

    In addition, below are the reconciling tables for the non-IFRS measures used in this press release.

    Reconciliation of Investment Properties to Adjusted Investment Properties                

    As at December 31 2024   2023   Δ
    Investment Properties          
    Developed properties 275,478,504   277,842,384   (1 %)
    Investment properties held for sale –   5,035,094   (100 %)
    Joint Venture Ownership(1)          
    Developed properties 47,909,829   45,765,604   5 %
    Properties under development 1,644,439   2,499,792   (34 %)
    Adjusted Investment Properties(2) 325,032,772   331,142,874   (2 %)
    (1) Represents Canadian Net’s proportionate share
    (2) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section “Non-IFRS financial measures”
     

    Results of Operations

      3 months
    		       12 months  
    Periods ended December 31 2024  2023  Δ   2024  2023  Δ
    Rental Income 6,786,773   7,249,338   (462,565)     26,123,869   26,550,527   (426,658)  
    Operating expenses (2,035,883)   (2,360,559)   324,676     (7,206,667)   (7,118,964)   (87,703)  
    Net Operating Income(1) 4,750,890   4,888,779   (137,889)     18,917,202   19,431,563   (514,361)  
    Share of net income from investments in joint ventures 284,362   1,187,923   (903,561)     1,862,241   3,077,438   (1,215,197)  
    Change in fair values of investment properties (1,342,261)   437,292   (1,779,553)     (4,755,298)   4,319,072   (9,074,370)  
    Unit-based compensation (53,920)   (114,500)   60,580     (769,457)   (541,875)   (227,582)  
    Administrative expenses (285,448)   (258,971)   (26,477)     (1,245,935)   (1,020,738)   (225,197)  
    Financial expenses (1,662,745)   (1,790,431)   127,686     (7,002,536)   (7,037,539)   35,003  
    Income taxes 97,324   (6,095)   103,419     97,324   (6,095)   103,419  
    Net income attributable to unitholders 1,788,202   4,343,997   (2,555,795)     7,103,541   18,221,826   (11,118,285)  
    FFO(1) 3,252,599   3,335,581   (3%)     12,355,243   13,059,460   (5%)  
    FFO per unit(1) 0.158   0.162   (3%)     0.601   0.635   (5%)  
    Normalized FFO(1) 3,252,599   3,335,581   (3%)     12,563,157   13,059,460   (4%)  
    Normalized FFO per unit(1) 0.158   0.162   (3%)     0.611   0.635   (4%)  
    Weighted avg. units o/s              
    Basic 20,561,060   20,528,502   32,558     20,553,943   20,566,316   (12,373)  
    (1) This is a non-IFRS financial measure that does not have any standardized IFRS meaning and as such may not be comparable to other issuers. Refer to section “Non-IFRS financial measures”
     

    Reconciliation of Net Income to Funds from Operations

      3 months     12 months  
    Periods ended December 31 2024 2023 Δ   2024 2023 Δ
    Net income attributable to unitholders 1,788,202   4,343,997   (2,555,795)     7,103,541   18,221,826   (11,118,285)  
    Δ in value of investment properties 1,342,261   (437,292)   1,779,553     4,755,298   (4,319,072)   9,074,370  
    Δ in value of investment properties in joint ventures 180,446   (684,851)   865,297     (145,151)   (1,185,278)   1,040,127  
    Unit-based compensation 53,920   114,500   (60,580)     769,457   541,875   227,582  
    Δ fair value adjustments on derivative financial instruments (12,278)   (21,168)   8,890     (30,578)   (224,725)   194,147  
    Income taxes (99,952)   20,395   (120,347)     (97,324)   24,834   (122,158)  
    FFO(1) 3,252,599   3,335,581   (3%)     12,355,243   13,059,460   (5%)  
    Sales tax expense(2) –   –   –     117,150   –   117,150  
    Mortgage early repayment fee –   –   –     90,764   –   90,764  
    Normalized FFO(1) 3,252,599   3,335,581   (3%)     12,563,157   13,059,460   (4%)  
    FFO per unit(1) 0.158   0.162   (3%)     0.601   0.635   (5%)  
    Normalized FFO per unit(1) 0.158   0.162   (3%)     0.611   0.635   (4%)  
    Distributions 1,773,436   1,770,629   2,807     7,091,138   7,095,010   (3,872)  
    Distributions per unit 0.086   0.086   –     0.345   0.345   –  
    FFO per unit(1) – after distributions 0.072   0.076   (5%)     0.256   0.290   (12%)  
    Normalized FFO per unit(1) – after distributions 0.072   0.076   (5%)     0.266   0.290   (8%)  
    Distributions as a % of FFO(1) 54%   53%   1%     57%   54%   3%  
    Distributions as a % of Normalized FFO(1) 54%   53%   1%     56%   54%   2%  
    Weighted avg. units o/s              
    Basic 20,561,060   20,528,502   32,558     20,553,943   20,566,316   (12,373)  
    (1) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section “Non-IFRS financial measures”
    (2) Sales tax expense related to input tax credits previously claimed on certain payments as well as related interest and penalties. Refer to Risks related to certain tax matters section.
     

    Adjusted Funds from Operations

      3 months     12 months  
    Periods ended December 31 2024 2023 Δ   2024 2023 Δ
    FFO (1) 3,252,599   3,335,581   (82,982)     12,355,243   13,059,460   (704,217)  
    Straight-line rent adjustment(2) (35,414)   (53,466)   18,052     (123,278)   (347,316)   224,038  
    Maintenance/cap-ex on existing properties(3) (282,562)   (164,469)   (118,093)     (638,492)   (988,964)   350,472  
    AFFO(1) 2,934,623   3,117,646   (6%)     11,593,473   11,723,180   (1%)  
    AFFO per unit(1) 0.143   0.152   (6%)     0.564   0.570   (1%)  
    Distributions per unit 0.086   0.086   –     0.345   0.345   –  
    AFFO per unit(1) – after distributions 0.057   0.066   (14%)     0.219   0.225   (3%)  
    Distributions as a % of AFFO(1) 60%   57%   3%     61%   61%   –  
    Weighted avg. units o/s              
    Basic 20,561,060   20,528,502   32,558     20,553,943   20,566,316   (12,373)  
    (1) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section “Non-IFRS financial measures”
    (2) Adjusted for the proportionate share of equity-accounted investments
    (3) The maintenance/cap-ex on existing properties for 2024 includes a charge of $118,890 (2023: $805,000) that will generate additional income for the Trust
     

    Reconciliation of Net Income to EBITDA

      3 months
    		       12 months  
    Periods ended December 31 2024 2023 Δ   2024 2023 Δ
    Net income attributable to unitholders 1,788,202   4,343,997   (2,555,795)     7,103,541   18,221,826   (11,118,285)  
    Net interest expense 1,671,806   1,807,805   (135,999)     6,933,552   7,247,180   (313,628)  
    Income taxes (99,952)   20,395   (120,347)     (97,324)   24,834   (122,158)  
    EBITDA(1) 3,360,056   6,172,197   (2,812,141)     13,939,769   25,493,840   (11,554,071)  
    Δ in value of investment properties 1,342,261   (437,292)   1,779,553     4,755,298   (4,319,072)   9,074,370  
    Δ in value of investment properties in joint ventures 180,446   (684,851)   865,297     (145,151)   (1,185,278)   1,040,127  
    Δ in value of convertible debentures (12,278)   (21,168)   8,890     (30,578)   (224,725)   194,147  
    Adjusted EBITDA(1) 4,870,485   5,028,886   (3%)     18,519,338   19,764,765   (6%)  
    Interest expense 1,753,732   1,897,508   (143,776)     7,322,675   7,640,203   (317,528)  
    Principal repayments 1,157,941   1,176,301   (18,360)     4,664,354   4,602,073   62,281  
    Debt service requirements 2,911,673   3,073,809   (5%)     11,987,029   12,242,276   (2%)  
    Interest coverage ratio based on adjusted EBITDA(1) 2.8x   2.7x   0.1x     2.5x   2.6x   (0.1x)  
    Debt service coverage based on adjusted EBITDA(1) 1.7x   1.6x   0.1x     1.5x   1.6x   (0.1x)  
    (1) This is a non-IFRS financial measure that does not have any standardized IFRS meaning and as such may not be comparable to other issuers. Refer to section “Non-IFRS financial measures”
     

    EARNINGS WEBCAST
    Canadian Net will host a webcast on March 19, at 9:00 a.m. (EST) to discuss the results.

    The link to join the webcast is the following: https://edge.media-server.com/mmc/p/pvftp69n

    About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties.

    Forward-Looking Statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence on the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new IFRS standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not update or modify its forward-looking statements even if future events occur or for any other reason unless required by law or any regulatory authority.

    Neither the TSX Venture Exchange Inc. nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange and its Regulatory Services Provider) accepts any responsibility for the adequacy or accuracy of this release.

    The December 31, 2024, financial statements and management discussion & analysis of Canadian Net may be viewed on SEDAR+ at www.sedarplus.ca.

    For further information please contact Kevin Henley at (450) 536-5328.

    1 Non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section “Non-IFRS financial measures”.

    The MIL Network –

  • MIL-OSI New Zealand: Rātā Foundation appoints Megan Glen to Investment Committee

    Source: Rata Foundation

    Rātā Foundation is pleased to announce the appointment of Megan Glen to its Investment Committee.
    Rātā Foundation is the South Island’s most significant community investment fund, managing a $700 million pūtea (fund) that generates around $26 million per annum to invest in its funding regions of Canterbury, Nelson, Marlborough, and the Chatham Islands. They invest sustainably, with goals linked to people and the community.
    Megan is a director in Forsyth Barr’s investment banking team, based in Auckland, advising large private and public entities on capital raisings and M&A transactions.
    Rātā Foundation’s Chief Executive says, “Megan brings significant investment asset management experience from her time in the direct investments team at the NZ Superannuation Fund, where she was responsible for managing and transacting a portfolio of private direct investments and had the opportunity to sit on the Boards of a number of NZ Super’s investee companies.”
    She also brings over 14 years of corporate finance experience, having worked as an investment banker in New Zealand and New York, advising on capital raisings, M&A, and refinancing transactions. Megan is also currently a member of the New Zealand Takeovers Panel, the Government’s regulator of the corporate takeover market. 
    “I am thrilled to have the opportunity to contribute my experience and perspectives working with the Rātā team to help guide their investment decisions, aligned with a common, motivating purpose,” says Ms Glen.”The Rātā investment strategy and beliefs differentiate it as a capital partner, and I believe that differentiation will allow Rātā to access valuable opportunities to deliver superior risk-adjusted returns while providing sustainable value to support the communities Rātā invests in.”
    Alignment of investors and objectives is critical to de-risking and driving investment performance. Generating investment returns always carries a degree of risk and the alignment of stakeholders is one of the best defenses to navigating turbulent times,” she says.
    Mr Evans says that Megan’s appointment is exciting and her experience will be hugely beneficial as Rātā focuses on its direct investment strategy.
    “Megan will strengthen the investment capability of the Committee by bringing both institutional investment knowledge and supporting informed decision-making, particularly around our direct investment strategy.”
    Megan has replaced Andrew Johnson who was on the Investment Committee since March 2019.
    “I would like to thank Andrew for his valuable insights over the past few years, particularly around the shift from a defensive to a more growth-orientated portfolio, which has set Rātā up for a bright and positive future,” says Mr Evans. 
    About Rātā Foundation
    Rātā Foundation is South Island’s most significant community investment fund, managing a $700 million pūtea that generates around $26 million per annum to invest in its funding regions of Canterbury, Nelson, Marlborough, and the Chatham Islands. The long-term strategic objective of Rātā is to invest in communities to enable a higher standard of community well-being. We intend to grow our investment portfolio so that we can increase our long-term funding distribution
    For more information about the investment approach of Rātā please visit https://ratainvest.org.nz/
    For more information on the social impact provided through community investment please visit https://ratafoundation.org.nz/

    MIL OSI New Zealand News –

  • MIL-OSI Canada: Changes to Canada’s Debt Distribution Framework

    Source: Bank of Canada

    Following a review of the Government of Canada’s Debt Distribution Framework (DDF) in 2024, the Bank of Canada and the Government of Canada (GoC) are announcing upcoming adjustments to the DDF. These changes will take effect in fiscal year 2025–26. A subsequent market notice will announce the effective implementation date, which will reflect a three-month period to allow market participants time to review and adapt to these changes.

    • All government securities distributors (GSDs) will be required to each achieve one winning competitive or non-competitive bid each month on behalf of either itself or its customers. Further, all GSDs must each achieve allocations of at least $50 million of GoC securities, on behalf of itself or its customers, every calendar quarter.
    • GSDs that are not primary dealers (PDs) will no longer be required to have their core Canadian fixed-income operations located within Canada or to be members of the Canadian Investment Regulatory Organization (CIRO). However, prospective GSDs will need to demonstrate that they are regulated to a standard equivalent to CIRO and to submit reports on their Canadian fixed-income trading to CIRO.
    • The use of calculated values for the purposes of determining bidding limits and PD minimum bidding requirements (MBRs) will be discontinued. PDs may submit competitive bids for up to 25% of the total auctioned amount for their own account and customer accounts for both bond and treasury bill auctions; the remaining GSDs will have a maximum competitive bidding limit of 10% for their own account and customer accounts for both bond and treasury bill auctions. PD MBRs will be calculated on a pro rata basis, where each PD must bid competitively for its equivalent share of an auction’s amount (e.g., 10 PDs for bonds would each have a MBR for 10% of a bond auction; 8 PDs for treasury bills would each have a MBR of 12.5% of a treasury bill auction).
    • Each PD’s aggregate bidding limit, meaning the cumulative amount of bids a PD can submit for its own account and on behalf of its customers, will be increased to 50% of the auction amount for both bond and treasury bill auctions, from the current 40%.
    • Non-competitive bidding limits will be changed to 0.5% of the auction amount per auction bidder. All bidders may submit only one non-competitive bid per auction. Customers may not submit competitive bids at an auction if they submit a non-competitive bid, and vice versa.
    • The Bank of Canada Auction System (BCAS) has been upgraded, and once the DDF changes are effective, BCAS users will be divided into either those who can see and enter bids for only the GSD’s own account or those who can see and enter bids for only the GSD’s customers.
    • A new facility will be created for reopening off-the-run GoC securities which the Bank of Canada and the Government of Canada view as requiring additional supply for markets to function well. This facility will be operationalized by the Bank of Canada, have publicly available Terms and Conditions, and be implemented with the same auction rules as nominal bond auctions. Details of the facility will be announced in a subsequent market notice that will also announce the facility’s effective date.
    • PDs will be subject to MBRs for non-fungible as well as fungible Cash Management Bill auctions.
    • Individual persons will not be eligible to apply for Bidder Identification Numbers.
    • New information for the results of the auctions of GoC securities will be made available on the Bank of Canada’s website following every auction. Namely, the percentage of the auctioned amount allocated between customers and GSDs, as well as between Canadian accounts and foreign accounts, will be included in auction result data.

    The Bank of Canada and the Government of Canada will coordinate with the GSDs over the coming months to implement these updates to the DDF in an orderly manner.

    For further information, please contact:

    Director
    Financial Markets Department
    Bank of Canada
    343‑573‑4846

    Director
    Funds Management Division
    Department of Finance Canada
    343‑549‑3651

    MIL OSI Canada News –

  • MIL-OSI Canada: New call for proposals to invest in skilled trades apprenticeships

    Source: Government of Canada News (2)

    March 18, 2025                    Gatineau, Quebec             Employment and Social Development Canada

    Skilled trades jobs are essential to ensure our homes, businesses and public spaces are safe, functional and well maintained. The Government of Canada is investing in apprenticeship training to grow a larger, certified, diverse and inclusive trades workforce.

    That is why the Minister of Jobs and Families, Steven MacKinnon, today announced that the Canadian Apprenticeship Strategy’s Investments in the Training Equipment stream will open for proposals on March 19, for Canadian organizations to submit applications.

    Through funded projects, the Government of Canada will be supporting the purchase of modern, up-to-date training equipment and materials that meet industry standards, and will help improve the quality of training for apprenticeships in Red Seal trades.  Eligible organizations include unions representing Red Seal trades workers, organizations managing their own training funds, and training providers that provide technical training to apprentices as part of a recognized apprenticeship program or a Red Seal trade.

    Organizations interested in applying can submit their applications electronically on the Grants and Contributions Online Services (GCOS) portal starting on March 19. Creating a GCOS account is a one-time process that allows organizations to apply for various funding opportunities with Employment and Social Development Canada in a secure web environment.

    MIL OSI Canada News –

  • MIL-OSI Canada: Backgrounder: Canadian Apprenticeship Strategy (Investments in Training Equipment) 

    Source: Government of Canada News

    Canadian Apprenticeship Strategy

    The Canadian Apprenticeship Strategy (CAS) aims to support a trades workforce that is skilled, inclusive, certified and productive. The CAS funds projects that aim to:

    • promote the skilled trades as a good career option;
    • develop initiatives that help Canadians explore, prepare for, participate and succeed in apprenticeship;
    • facilitate the participation of employers and unions in apprenticeship; and
    • encourage innovative tools and approaches to better prepare pre-apprentices, apprentices and journeypersons for the jobs of tomorrow.

    CAS Investments in Training Equipment

    The CAS Investments in Training Equipment funding stream helps eligible organizations improve the quality of training through the purchase of equipment and materials that meet the latest industry standards or through investments in new technology needed to train workers in the Red Seal trades.

    Eligible organizations include unions representing Red Seal trades workers, organizations managing their own training funds, and training providers that deliver technical training to apprentices as part of a recognized curriculum for a Red Seal trade.

    This funding stream helps training providers improve the quality of training through investments in equipment and materials. It provides recipients with up to 50% of the cost of new, up-to-date equipment and materials, to train pre-apprentices and apprentices in the Red Seal trades. The 50% leveraging requirement reflects the benefit to the recipient of a capital purchase.

    This year, the Government is implementing a continuous intake to receive and assess project applications. This will allow for faster application assessment and allocation of funding. There is no application end date to this call for proposals.

    Organizations in Quebec are not eligible for the proposed Investments in Training Equipment continuous intake.  In Quebec apprenticeship training happens in the education system prior to registering with an employer as an apprentice. The Government of Canada supports the important goals of training apprentices through a separate funding agreement.  

    MIL OSI Canada News –

  • MIL-OSI Europe: Answer to a written question – Spanish Government’s strategy to decommission nuclear power plants – E-000267/2025(ASW)

    Source: European Parliament

    Spain has confirmed its plans to phase out nuclear energy by 2035 in the recently submitted National Energy and Climate Plan[1]. The choice of the energy resources in the energy mix, including the decision to use or not use nuclear energy, remains within the remit of each Member State in accordance with the provisions of the EU legislation[2].

    The Commission does not intervene in such decisions while it recognises that securing supplies of clean and affordable energy is critical for European competitiveness, security, and EU’s future climate neutrality.

    As reflected in the recently announced Competitiveness Compass[3], the Commission’s aim is to ensure that t he transition to a decarbonised economy is competitiveness-friendly and technology-neutral, while the shift to cleaner and cost-efficient sources of energy must reduce energy costs and price volatility.

    As part of the proposals to accompany its Clean Industrial Deal, the Commission presented on 26 February 2025 an Action Plan for Affordable Energy[4].

    • [1] https://commission.europa.eu/document/download/211d83b7-b6d9-4bb8-b084-4a3bfb4cad3e_es?filename=ES%20-%20FINAL%20UPDATED%20NECP%202021-2030%20%28Spanish%29.pdf
    • [2] Article 194 of the Treaty on Functioning of the European Union.
    • [3] A competitiveness compass for the EU: https://commission.europa.eu/document/download/10017eb1-4722-4333-add2-e0ed18105a34_en
    • [4] https://energy.ec.europa.eu/document/download/7e2e6198-b6b8-46fe-b263-984b437da3ab_en?filename=Communication%20-%20Action%20Plan%20for%20Affordable%20Energy.pdf
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – EU funds and plans for housing – E-000038/2025(ASW)

    Source: European Parliament

    The Commission shares the Honourable Member’s concerns about the housing situation in the EU. To tackle the housing crisis, the Commission has appointed for a Commissioner for Energy and Housing.

    It has also established a Task Force for Housing that will support him coordinate the different strands of work across the Commission and put forward the first-ever European Affordable Housing Plan to address structural drivers of the housing crisis and to help unlock the public and private investment needed.

    The Commission will work closely with all relevant stakeholders, such as the European Investment Bank, national promotional banks and international financial institutions on this matter[1].

    In addition, the Commission is examining how state aid rules for housing could be revised, notably for energy efficiency and social housing .

    To assist Member States, the Commission has published a toolkit[2] that provides an overview of available EU funding[3] opportunities in housing.

    These funds and programmes have different management modes: i) direct management by the Commission; ii) shared management between the Commission and the Member State; iii) indirect management by partner organisations or other authorities inside or outside the EU.

    The Social Climate Fund will also be soon rolled-out[4], which will notably help with renovations and access to affordable and energy-efficient housing.

    The Commission is also working on a proposal to inject liquidity into the market by allowing Member States to double the planned cohesion policy investments in affordable housing.

    The strategic choice of priorities on the use of the available cohesion policy funding (including reallocation into affordable housing) will depend on their specific needs.

    • [1] As a first step, the Commission and EIB group has announced the foundations for a new pan-European investment platform for affordable and sustainable housing on 6 March 2025
      https://ec.europa.eu/commission/presscorner/detail/en/ip_25_671
    • [2] Social Housing and beyond. https://european-social-fund-plus.ec.europa.eu/en/news/commission-launches-toolkit-support-social-housing-member-states
    • [3] The Recovery and Resilience Facility; the European Regional Development Fund; the European Social Fund Plus; the InvestEU; the Horizon Europe; the Technical Support Instrument; the Single Market Programme; the Asylum, Migration and Integration Fund; the Social Climate Fund (see the Commission toolkit for further details for each programme). In addition, the Cohesion Fund and the Just Transition Fund also support investments in the energy efficiency of housing stock. Details are available in the data story ‘how cohesion policy supports housing’ (Cohesion open data platform): https://cohesiondata.ec.europa.eu/stories/s/2021-2027-cohesion-policy-support-to-housing/4dey-9iax
    • [4] The Member States’ plans to be sent to the Commission by June 2025; the Commission will assess the plans and disburse payments to the Member States only if the milestones and targets set in the plans are achieved.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Australia: NAB helps remove almost 600 bogus websites intent on scamming Aussies

    Source: National Australia Bank

    • Hundreds of deliberately deceptive NAB-branded websites uncovered and removed throughout 2024
    • New examples of fake NAB websites targeting Australians revealed to raise awareness among consumers and businesses
    • Sophisticated, fraudulent web pages used to entice people into revealing personal information through phishing scams

    NAB has cracked down against hundreds of fake websites attempting to dupe and scam Aussies.

    In 2024, NAB identified and assisted with the removal of almost 600 illegitimate websites trying to impersonate the bank or its products, as it ramped up its efforts to counter the prevalence of cyber threats and scams, and better protect customers.

    It follows thousands of scam website take downs ordered by ASIC in the same 12-month period.

    Realistic looking but phony websites are often used in phishing and investment scams to tempt people into sharing their banking and personal information, or promising high windfalls from financial products or services.

    NAB has released images of the latest real-life examples of fake websites, to help educate customers and the community about what to watch out for.

    Fake websites, like this one, are a common tactic criminals use to rip people off. NAB has had this one removed.

    NAB Head of Security Culture and Advisory Laura Hartley said criminals typically used three key methods when pushing fake websites.

    1. Spoofed URLs: Web addresses which appear authentic but are slightly altered and difficult to distinguish from the real ones. Regularly used in text message, WhatsApp message or email phishing scams.
    2. Urgency and fear tactics: Promotions pressuring people into quick decisions, such as limited-time offers or threats of account suspension which often arrive via email, text message or phone calls.
    3. Fake endorsements: Use of fake testimonials or unauthorised use of brand trademarks or celebrity images to build credibility and commonly promoted across social media channels.

    Ms Hartley said NAB remained focused on its fight against criminals as part of a bank-wide scam strategy and cyber security vigilance to help protect customers.

    “We need to stop the crime before it occurs, and this can only be achieved through a coordinated national effort across the scam ecosystem. This includes digital media companies where many phony websites are hosted,” Ms Hartley said.

    “On average, we request the take down of two malicious websites masquerading as NAB every day. Within hours of uncovering a fake site, we have added it to Google and Microsoft block lists, which alert customers to instances of bogus websites attempting to impersonate the bank.

    “It’s a constant game of whack-a-mole and it’s why we need a coordinated, national approach to stop the crime before it occurs. Banks can’t do this on their own.

    “We need to make Australia a hard place for these criminals to operate in and that takes a national coordinated response across banks, digital and social media companies and telcos all working closely together.

    “When customers want to visit NAB’s website or check whether there’s an issue with their accounts, it’s safest to log in using the NAB app or type nab.com.au directly into your browser.

    “If anyone spots a fake website impersonating NAB, you can report it via our website at nab.com.au/security. Customers can also see the latest security alerts at nab.com.au/securityalerts.”

    MIL OSI News –

  • MIL-OSI New Zealand: Procurement underway for Northland Corridor Section 1, Ara Tūhono – Warkworth to Te Hana

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) is inviting interested parties to express their interest in delivering the first section of the Northland Corridor Ara Tūhono – Warkworth to Te Hana, a major transport project designed to improve safety, resilience and efficiency between Auckland and Northland.

    Following extensive market engagement, Registrations of Interest (ROI) for the project opened on Friday:

    Invitation for Registrations of Interest (ROI) – Northland Corridor – Section 1 (Warkworth to Te Hana) Public Private Partnership(external link) 

    The ROI, which marks the start of the procurement process, was announced by Transport Minister, Hon. Chris Bishop, last week, in the lead up to the NZ Infrastructure Investment Summit. 

    “This is a major milestone for the development of Northland’s transport network,” says NZTA Northland Corridor Programme Director, Derek Robertson. 

    “The three Roads of National Significance that make up the Northland Corridor will support economic growth and productivity, reduce congestion, improve safety, support housing development, and improve freight connections to the wider Upper North Island.” 

    “The Ara Tūhono – Warkworth to Te Hana section is the most advanced part of the corridor in terms of consents, property acquisition and design, meaning we can start construction sooner than the other sections.” 

    The indicative design for the 26km four-lane highway includes an 850m tunnel in the Dome valley and three interchanges at Warkworth, Wellsford and Te Hana. These improvements will address the known safety and resilience challenges in the Dome valley, a critical freight and passenger route. 

    The project will be delivered under a Public Private Partnership (PPP), with the current Registration of Interest process marking the first stage of procurement. This will be followed by formal Expression of Interest (EOI) process that will get underway before the end of the month, and a Request for Proposal (RFP) in mid-2025 for up to three shortlisted bidders, with a preferred bidder expected to be announced in early 2026 and contract finalised by the middle of next year. 

    “We would like to thank both the New Zealand based and international contractors, investors and maintenance and operations for their contributions during the market engagement process. 

    “We have heard a lot about how things can be done more collaboratively, quickly and with great outcomes for partners and the community. Their valuable insights have helped us shape up the PPP procurement approach.” 

    Detailed design and construction are expected to start in late 2026. 

    NZTA is also advancing plans for the remaining sections, including an alternative route to the Brynderwyn Hills. Decisions on section 2 Te Hana to Port Marsden Highway and section 3 Port Marsden Highway to Whangārei will be announced soon. Taking a corridor approach will enable NZTA to take advantage of scale and leverage efficiencies, improve innovation and deliver outcomes faster.   

    “This project is an important investment in Northland’s future and will deliver long-term benefits for both the region and New Zealand’s wider transport network.” says Mr Robertson.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: NZ must act on Israel’s slaughter of children

    Source: Green Party

    The Green Party is calling on Government MPs to support Chlöe Swarbrick’s Member’s Bill to sanction Israel for its unlawful presence and illegal actions in Palestine, following another day of appalling violence against civilians in Gaza.

    “Aotearoa New Zealand cannot remain a bystander to the slaughter of innocent people in Gaza. We can and must act now to sanction Israel for its crimes, just like we did with Russia for its illegal action in Ukraine,” says Green Party co-leader Chlöe Swarbrick. 

    “With Green, Te Pāti Māori and Labour’s committed support, we now need just six of 68 Government MPs to pass my Unlawful Occupation of Palestine Sanctions Bill into law.

    “In just the last 24 hours, Israel’s strikes on Gaza have killed at least 400 people, mostly children and women, and left many more injured.

    “There’s no more time for talk. If we stand for human rights and peace and justice, our Parliament must act.

    “In September, Aotearoa joined 123 UN Member States to support a resolution calling for sanctions against those responsible for Israel’s ‘unlawful presence in the Occupied Palestinian Territory, including in relation to settler violence.’

    “Our Government has since done nothing to fulfil that commitment. Our Unlawful Occupation of Palestine Sanctions Bill starts that very basic process.

    “No party leader or whip can stop a Member of Parliament exercising their democratic right to vote how they know they need to on this Bill. There is no more hiding behind party lines. All 123 Members of Parliament are each individually, personally responsible,” says Chlöe Swarbrick. 

    NOTES TO EDITORS:

    • Palestinian authorities reported that 404 people were killed and over 600 people injured in yesterday’s airstrikes by Israel. According to Gaza’s Government Media Office, the airstrikes in Gaza City, Khan Younis, Deir Al-Balah and Rafah wiped out entire families.
    • Israeli military officials said the IDF targeted Hamas military commanders and political officials. However, Save the Children reported that most of those killed in the airstrikes were women and children.
    • In recent weeks of the ceasefire, Israel had cut off power to Gaza, and enforced a total siege on the entry of aid and supplies into the territory for Palestinian communities already facing starvation and illness.
    • The attacks by Israel take place during the holy month of Ramadhan, an important month in the Muslim calendar. 
    • At least 48,577 Palestinians have been killed, and 112,041 wounded, throughout Israel’s war on Gaza.
    • Elsewhere in Palestinian territory, 43 Palestinian children have been killed in the West Bank since last October, a spike of nearly 250%, according to UNICEF.
    • Standing Order 288 outlines the process for Member’s Bills to bypass the member’s bill ballot (colloquially known as the ‘biscuit tin’), with the support of 61 non-executive members. With 55 Opposition members now officially in support of Swarbrick’s Unlawful Occupation of Palestine Sanctions Bill, the support of just 6 Government MPs is necessary to get the Bill onto the floor of Parliament. 
    • On 10th December 2024, Swarbrick wrote to all Members of Parliament asking their support for the Bill to bypass the ballot, and later asked the Prime Minister in the House if there would be any Government policy or position preventing MPs from exercising their democratic right to support the Bill bypassing the ballot. He said that he would have a “good look at the Bill”.

    MIL OSI New Zealand News –

  • MIL-OSI USA: NASA Science Continues After Firefly’s First Moon Mission Concludes

    Source: NASA

    After landing on the Moon with NASA science and technology demonstrations March 2, Firefly Aerospace’s Blue Ghost Mission 1 concluded its mission March 16. Analysis of data returned to Earth from the NASA instruments continues, benefitting future lunar missions.
    As part of NASA’s CLPS (Commercial Lunar Payload Services) initiative and Artemis campaign, Firefly’s Blue Ghost lunar lander delivered 10 NASA science and technology instruments to the Mare Crisium basin on the near side of the Moon. During the mission, Blue Ghost captured several images and videos, including imaging a total solar eclipse and a sunset from the surface of the Moon. The mission lasted for about 14 days, or the equivalent of one lunar day, and multiple hours into the lunar night before coming to an end.
    “Firefly’s Blue Ghost Mission 1 marks the longest surface duration commercial mission on the Moon to date, collecting extraordinary science data that will benefit humanity for decades to come,” said Nicky Fox, associate administrator, Science Mission Directorate at NASA Headquarters in Washington. “With NASA’s CLPS initiative, American companies are now at the forefront of an emerging lunar economy that lights the way for the agency’s exploration goals on the Moon and beyond.”
    All 10 NASA payloads successfully activated, collected data, and performed operations on the Moon. Throughout the mission, Blue Ghost transmitted 119 gigabytes of data back to Earth, including 51 gigabytes of science and technology data. In addition, all payloads were afforded additional opportunities to conduct science and gather more data for analysis, including during the eclipse and lunar sunset.
    “Operating on the Moon is complex; carrying 10 payloads, more than has ever flown on a CLPS delivery before, makes the mission that much more impressive,” said Joel Kearns, deputy associate administrator for exploration, Science Mission Directorate, NASA Headquarters. “Teams are eagerly analyzing their data, and we are extremely excited for the expected scientific findings that will be gained from this mission.”
    Among other achievements, many of the NASA instruments performed first-of-their-kind science and technology demonstrations, including:

    The Lunar Instrumentation for Subsurface Thermal Exploration with Rapidity  is now the deepest robotic planetary subsurface thermal probe, drilling  up to 3 feet and providing a first-of-its kind demonstration of robotic thermal measurements at varying depths.
    The Lunar GNSS Receiver Experiment acquired and tracked Global Navigation Satellite Systems (GNSS) signals, from satellite networks such as GPS and Galileo, for the first time enroute to and on the Moon’s surface. The LuGRE payload’s record-breaking success indicates that GNSS signals could complement other navigation methods and be used to support future Artemis missions. It also acts as a stepping stone to future navigation systems on Mars. 
    The Radiation Tolerant Computer successfully operated in transit through Earth’s Van Allen belts, as well as on the lunar surface into the lunar night, verifying solutions to mitigate radiation effects on computers that could make future missions safer for equipment and more cost effective.
    The Electrodynamic Dust Shield successfully lifted and removed lunar soil, or regolith, from surfaces using electrodynamic forces, demonstrating a promising solution for dust mitigation on future lunar and interplanetary surface operations.
    The Lunar Magnetotelluric Sounder successfully deployed five sensors to study the Moon’s interior by measuring electric and magnetic fields. The instrument allows scientists to characterize the interior of the Moon to depths up to 700 miles, or more than half the distance to the Moon’s center.
    The Lunar Environment heliospheric X-ray Imager captured a series of X-ray images to study the interaction of the solar wind and Earth’s magnetic field, providing insights into how space weather and other cosmic forces surrounding Earth affect the planet. 
    The Next Generation Lunar Retroreflector successfully reflected and returned laser light from two Lunar Laser Ranging Observatories, returning measurements allowing scientists to precisely measure the Moon’s shape and distance from Earth, expanding our understanding of the Moon’s inner structure. 
    The Stereo Cameras for Lunar Plume-Surface Studies instrument captured about 9,000 images during the spacecraft’s lunar descent and touchdown on the Moon, providing insights into the effects engine plumes have on the surface. The payload also operated during the lunar sunset and into the lunar night.
    The Lunar PlanetVac was deployed on the lander’s surface access arm and successfully collected, transferred, and sorted lunar soil using pressurized nitrogen gas, demonstrating a low-cost, low-mass solution for future robotic sample collection.
    The Regolith Adherence Characterization instrument examined how lunar regolith sticks to a range of materials exposed to the Moon’s environment, which can help test, improve, and protect spacecraft, spacesuits, and habitats from abrasive lunar dust or regolith.

    The data captured will benefit humanity in many ways, providing insights into how space weather and other cosmic forces may impact Earth. Establishing an improved awareness of the lunar environment ahead of future crewed missions will help plan for long-duration surface operations under Artemis.
    To date, five vendors have been awarded 11 lunar deliveries under CLPS and are sending more than 50 instruments to various locations on the Moon, including the lunar South Pole and far side.
    Learn more about NASA’s CLPS initiative at:
    https://www.nasa.gov/clps
    -end-
    Alise Fisher Headquarters, Washington202-617-4977alise.m.fisher@nasa.gov
    Natalia Riusech / Nilufar RamjiJohnson Space Center, Houston281-483-5111nataila.s.riusech@nasa.gov / nilufar.ramji@nasa.gov
    Antonia JaramilloKennedy Space Center, Florida321-501-8425antonia.jaramillobotero@nasa.gov

    MIL OSI USA News –

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

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Estill County

    Disaster Recovery Center Opens in Estill County

    FRANKFORT, Ky

    –A Disaster Recovery Center will open tomorrow, March 18, in Estill County

    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 February

      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

    Address: City of Irvine City Hall, 101 Chestnut St

    , Irvine, KY 40336Hours: 7 a

    m

    to 7 p

    m

    EDT Monday through Saturday and 1 to 7 p

    m

    EDT on SundaysMore Disaster Recovery Centers will continue to open in the counties eligible for disaster assistance

     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

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA mobile app or call 800-621-3362

    If you use a relay service, such as Video Relay Service (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

    martyce

    allenjr
    Tue, 03/18/2025 – 13:02

    MIL OSI USA News –

  • MIL-OSI Economics: Members agree on topics for experience-sharing sessions on services trade

    Source: WTO

    Headline: Members agree on topics for experience-sharing sessions on services trade

    Members also explored the linkages between services trade and environmental sustainability at an event organized by the WTO Secretariat on 12 March.
    Giving effect to ministerial mandate
    The agreement to organize informal experience-sharing sessions on good regulatory practices and recognition of professional qualifications stems from the February 2024 ministerial mandate to  reinvigorate work on trade in services and to facilitate the increased participation of developing members in services trade. Members will also continue discussions on the possibility of organizing sessions on the green transition and digitalization.
    Several members reiterated their call for not duplicating the work carried out in the Council’s subsidiary bodies and for having balanced deliberations.
    Participation of least-developed countries (LDCs) in services trade
    Members responded favourably – pending final discussions on technical issues – to a request by the WTO LDC group to collect information through a survey hosted on the WTO website on how their service suppliers are engaging with consumers and enterprises in other economies. Particular attention will be paid to the 51 WTO members that have notified preferences for LDC services and service suppliers. Members reiterated their commitment to support the participation of LDCs in services trade.
    Members have notified preferences for LDC service suppliers in line with a ministerial mandate to operationalize the “LDC Services Waiver”, which was adopted at the 8th Ministerial Conference in 2011.
    A total of 37 WTO members are classified as LDCs. More information on the waiver can be found here.
    Services trade concerns
    Members discussed three previously addressed specific trade concerns involving cybersecurity measures and mobile applications, among other services-related topics.
    Japan and the United States, supported by several other members, reiterated concerns about the cybersecurity measures of China and Viet Nam. China repeated concerns with certain services measures of the United States. China also reiterated its concerns regarding India’s measures in relation to mobile applications.
    Trade in financial services
    Members continued discussing how to reinvigorate work on trade in services in the Committee on Trade in Financial Services. A new proposal, bringing together three earlier submissions from China, the Philippines and India, calls for information-sharing sessions on digital payments, interoperability of payment systems and cost of remittance services. The proposal also refers to crisis preparedness as advocated by Pakistan. Details of previous discussions can be found here.
    The Committee is one of the Services Council’s subsidiary bodies.
    Classification of environmental services
    At a meeting of the Committee on Specific Commitments held on 11 March, members heard from Costa Rica and Switzerland about how the Agreement on Climate Change, Trade and Sustainability is helping its parties define, classify and make commitments in environmental services.
    In the Agreement, Costa Rica, Iceland, New Zealand and Switzerland set out the commitments they have made on 114 services ranging from environmental protection to resource management and climate change adaptation and mitigation.
    Members welcomed the presentation and agreed to engage further on this topic.
    The Committee is one of the Services Council’s subsidiary bodies.
    Recent developments in services trade policy
    An event held on 12 March entitled “Nexus between Trade in Services and Environmental Sustainability:  Evidence from Recent Research” looked at the role of services trade in promoting environmental sustainability and the impact of environmental policy on services trade.
    Introducing a forthcoming research paper titled “Services Trade and Environmental Sustainability: Conceptual Linkages and Empirical Patterns”, the Organisation for Economic Co-operation and Development highlighted the important role that services trade can play in tackling environmental challenges. This is particularly important as services represent two-thirds of global output and are among the most dynamic sectors in international trade.
    The value that services trade adds to supply chains can support greener production functions and consumption patterns, the OECD noted. For example, engineering services can be used in the green hydrogen production supply chain and financial services can support carbon mitigation projects.
    The OECD paper makes the case for removing restrictions to services imports and for examining synergies with environmental policymaking. Countries at all levels of development stand to benefit from increased openness and participation in services trade as a result of increased domestic productivity, the OECD noted.
    This event was organized by the WTO’s Trade in Services and Investment Division as part of the “Simply Services” speaker series, an informal platform for sharing the latest information on trends in services trade. The webcast of the event can be watched here.

    Share

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon Business launches industry-first GenAI Assistant for small businesses

    Source: Verizon

    Headline: Verizon Business launches industry-first GenAI Assistant for small businesses

    What you need to know:

    • Verizon Business Assistant is an easy-to-deploy solution that small businesses can start using immediately to free up time and answer customer questions via text 24/7.
    • Small businesses now have the same opportunity to leverage AI as global enterprises to automate and enhance their customer interactions with a generative AI assistant
    • Small business owners want to make their businesses more efficient through technology, and better connect with new and existing customers, according to Verizon Business’ fifth Annual State of Small Business Report

    NEW YORK — Small businesses can now harness the power of Generative Artificial Intelligence (GenAI) to supercharge their operations. The newest product built directly for small businesses, Verizon Business Assistant is a GenAI-powered text messaging solution designed to help small businesses automate customer interactions and enhance engagement. Business Assistant provides instant text responses to commonly asked questions, learns and improves over time, and enables businesses to offer faster and more efficient customer service.

    How it works: 

    If a customer texts a bakery to ask about gluten-free options, Business Assistant can instantly respond using GenAI. If it doesn’t yet have the answer, it will then connect to a live employee for assistance. The best part is that it learns from interactions, building a knowledge base that improves over time. Ultimately, Business Assistant reduces the need for human intervention, allowing employees to focus on higher-value tasks while ensuring customers get fast, accurate responses.

    “Small business owners are constantly juggling multiple responsibilities, and want to use technology to improve operations and better connect with their customers,” said Iris Meijer, Chief Product & Marketing Officer, Verizon Business. “Yet access to that technology and AI tools that work for small businesses can be a challenge, which is where we want to help champion them. Verizon Business Assistant is one example of a solution we’re rolling out to support small business owners. It also addresses an increasing customer demand – particularly from younger generations – for easy digital tools to communicate with businesses on simple matters. This allows small business owners to focus on growing their business while ensuring their customers feel valued and connected to the business.”

    Business Assistant is ideal for small business owners looking to:

    • Save time by automating responses to common questions, freeing up time for other tasks.
    • Serve more customers efficiently with the ability to automatically respond to inquiries via text message 24/7.
    • Enhance customer engagement by providing a fast, convenient, and preferred communication channel.
    • Gain insights into customer needs and preferences through interaction data.

    Key features include:

    • Automated Responses: Provides immediate answers to common customer inquiries, freeing up valuable time for business owners and employees.
    • Live Team Member Handoff: Transitions complex inquiries to a live team member for a personalized experience.
    • Continuous Learning: Expands its knowledge base over time, improving accuracy with more interactions.
    • Text Messaging (SMS/MMS): Uses a familiar and convenient channel for easy communication between businesses and customers.
    • Insights Dashboard: Gives business owners valuable data on customer trends and engagement patterns.
    • Easy to set up: The setup is straightforward, easily integrates with existing Verizon mobile devices, and requires no new hardware or software.
    • Customizable: Gives business owners the power to choose how it is trained and what answers are desired for any potential question.

    For more ways Verizon Business supports small businesses, visit Small Business Solutions.

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    Source: Verizon

    Headline: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    • Partnership brings together industry leaders in mobility and banking to provide a secure, seamless digital banking experience to Verizon customers with no fees, low minimum deposits and 24/7 access to funds.
    • Relationship significantly expands Santander’s national scale and reach as part of its strategy to become a leading digital bank with branches and enhances Verizon’s financial service portfolio with added benefits for customers.

    Verizon and Santander Bank, N.A., part of the global banking leader Santander1, today announced a multi-year U.S. partnership to bring a new, competitive high yield savings account to millions of Verizon mobile and 5G Home customers. Introducing Verizon + Openbank Savings: a digital high yield savings account with a rate 10 times the national average and the ability to save up to $180 a year on your Verizon bill. Verizon + Openbank Savings joins Verizon’s portfolio of financial services offerings, yet another example of outstanding value and benefits on top of mobile and home connectivity.

    “Verizon has long been committed to delivering value and savings beyond wireless services,” said Hans Vestberg, Chairman and CEO of Verizon. “Our scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank’s secure, simple high yield savings account to our financial offerings provides Verizon customers with unique and differentiated value in the telco and financial services category. This collaboration reinforces our dedication to delivering meaningful and exclusive benefits that support how our customers live, work, play AND save.”

    Ana Botín, Banco Santander Executive Chair, added, “By partnering with Verizon, the nation’s leading mobile provider, Openbank can offer a differentiated savings opportunity and digital experience to millions of consumers across the U.S. The Verizon partnership is a significant milestone for Santander as we scale our U.S. business further by bringing Openbank’s secure and simple banking experience and compelling rewards to Verizon’s customers nationwide — backed by a leading global bank that has earned the trust of more than 173 million customers. This is an important step in our growth strategy, and I am excited for what’s ahead.”

    Incredible savings with Verizon + Openbank

    In addition to maximizing savings with Verizon + Openbank’s competitive interest rate at 10 times the national average, customers can also save on their Verizon wireless bill, starting with a minimum average daily balance of $1,000. The higher the average daily balance, the higher the wireless bill savings — up to $180 per year.

    Signing up is simple

    Starting in April, Verizon customers can easily sign up for an Openbank high yield savings account via verizon.com or the MyVerizon app. Customers will then be directed to the Openbank site to complete the account registration process. After opening their account, customers can use the Openbank app to deposit and withdraw funds, check their monthly interest rate and manage their accounts. To learn more, you can visit verizon.com/startsaving.

    Unlocking a savings growth opportunity

    Santander US research reveals that while interest rates have been at their highest levels in nearly two decades, many consumers have not taken advantage of high-rate products, such as high yield savings accounts, to grow their savings. The research also found consumers’ top consideration for selecting a banking partner are safety, stability, and 24/7 digital access. Openbank’s digital platform provides a secure, seamless banking experience with no fees, low minimum deposits and 24/7 access to funds and customer support.

    The Openbank digital banking platform launched in the U.S. market in late 2024 with a high yield savings account offering that quickly reached more than $3 billion (USD) in deposits. The digital platform is now available nationwide, and will begin offering additional products, such as Certificates of Deposit (CDs) and Checking Accounts, later in 2025. Openbank in the U.S. is a division of Santander Bank, N.A., which is a Member of the FDIC. For more information about Openbank by Santander, including eligibility, please visit openbank.us.

    With exclusive savings, top-tier perks, the flexibility to customize your plan with myPlan and myHome, and now the incredible Verizon + Openbank Savings account, it’s never been a better time to be a Verizon customer.

    1 Banco Santander is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2024, Banco Santander had €1.3 trillion in total funds, 173 million customers, 8,000 branches and 207,000 employees.

    Verizon + Openbank Savings is offered exclusively by Openbank, a division of Santander Bank, N.A., and is not managed, housed, or controlled by Verizon. Santander Bank, N.A., offering your account through its Openbank division, is a Federal Deposit Insurance Corporation (“FDIC”) insured institution. Deposits at Santander Bank, N.A. and its Openbank division are combined for FDIC insurance purposes (FDIC Cert. 29950) and are not separately

    insured. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Please visit fdic.gov for details. Verizon is not a chartered banking institution and is not insured by FDIC.

    MIL OSI Economics –