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Category: Business

  • MIL-OSI Submissions: Universities – Call for action in Vietnam to make low-emission food system reforms – Flinders

    Source: Flinders University

    While food systems account for up to 30% of total global greenhouse gas emissions, Vietnam is holding high-level talks aimed at creating more sustainable farming systems in the country’s ‘food bowl,’ the Mekong Delta region.

    However, public policy experts are asking whether an extended series of government and large organisations running high-level multistakeholder forums (MSFs) is the best approach – and with few signs of low-emission food production systems commencing since the forums started almost 30 years ago.

    Based on policy and literature reviews and interviews with 40 organisations in Vietnam, the Vietnamese researchers led by experts from Nong Lam University have joined Flinders University Professor in Public Policy Thuy Pham to highlight the need for policymakers and

    MSF organisers to learn and implement important ‘real-world’ changes to greenhouse gas emissions and equity in society.

    “Our investigations on the impact of 17 MSFs in Vietnam show they have shared some valuable knowledge but all this has generally made little contribution to outcomes on emissions, climate change mitigation and equity in communities,” says Professor Pham, from Flinders University’s College of Business, Government and Law.

    “Current MSFs operate at different scales – regional, national, provincial – targeting different stakeholder groups for different objectives and outcomes,” she says, of a new article published in the World Development Perspectives journal.

    “This means there is a lack of effective discussion across the groups, and not all stakeholders know about the forums, so limiting opportunities for collaboration, information sharing, networking and resource efficiency.”

    “Rather than running more MSFs, we recommend that the great ideas produced at these forums should be used by policymakers to make progress on emission targets in food production, and in turn on equity.”

    The researchers suggest that key policymakers should learn from and work with existing MSFs, rather than establish new ones and waste time.  

    They say reducing emissions and more sustainable food production requires holistic, cross-sectoral and multilevel solutions developed by multiple stakeholders. Technical solutions need to align with transformative governance and wide-ranging and inclusive stakeholder engagement with all players in food systems – while taking into account the interests and perspectives of these different stakeholders.

    Coauthor of the study Dr Tang Thi Kim Hong, from the Nong Lam University in Ho Chi Minh City, says Vietnam’s policies on emission reductions and food systems – such as its Nationally Determined Contribution, and Resolution 34 on national food security until 2030 – require the participation of all sectors, state and non-state stakeholders as well as local communities and ethnic minorities.

    “It is important, therefore, to analyse the degree to which a low-emission food system in the Mekong Delta is inclusive, and to assess whether all stakeholders or affected parties and their interests are represented in the decision-making process.”

    While MSFs are designed to be “bring together a range of stakeholders to participate in decision-making and/or implementation in order to address a land, climate or resource problem or to achieve a common goal,” too often they are led and controlled by ‘powerful’ stakeholders who have funds, access to knowledge and political networks. This leaves local communities, Indigenous people and women behind, researchers say.

    “We would suggest that key policymakers and funding agencies should learn from, and work with, existing MSFs to understand what works, what doesn’t, what works best and where, when and for whom, before establishing new ones,” adds Professor Pham, who is also affiliated with the Center for International Forestry Research in Indonesia (CIFOR).

    “These MSFs should also ensure and empower disadvantaged groups such as Indigenous people local communities, women and youth to take the ownership, leadership and have a voice in how these MSFs should be run and operated, and how they can meaningfully address the on-ground problems.”

    The article, ‘Multistakeholder forums in the Mekong Delta, Vietnam: Stakeholders’ perspectives regarding their outcomes and effectiveness for low-emission food systems’ (2025) by Thu Thuy Pham, Thi Kim Hong Tang, Vy Thao Ngo, Ngoc My Hoa Tran, Thi Thuy Anh Nguyen, Thi Van Anh Nguyen, Trung Son Nguyen and Dinh Yen Khue Nguyen has been published in World Development Perspectives DOI:10.1016/j.wdp.2025.100661.

    Professor Thuy Pham, based at the Flinders College of Business, Government and Law, also is affiliated with the Center for International Forestry Research (CIFOR) in Indonesia. Other corresponding authors from Vietnam’s Nong Lam University – Dr Kim Tang, from the Faculty of Forestry, and Dr Thao Ngo, from the Faculty of Environment and Natural Resources, contributed equally to the study.

    Food systems account for up to 30% of total global greenhouse gas emissions when accounting for all elements and stakeholders (environment, people, inputs, processing, infrastructure, institutions, etc), according to an FAO report. This includes activities related to the production, processing, distribution, preparation, use, and sale of food, and the outputs of these activities, including socio-economic and environment.

    MSFs aim to bring together multiple stakeholders, including farmers and community groups, to develop climate solutions and make meaningful, on-the-ground reforms to set up low-emission food systems and improve equity.

    MIL OSI – Submitted News –

  • MIL-OSI New Zealand: 50,000 businesses set to benefit from eInvoicing

    Source: New Zealand Government

    More than 50,000 kiwi businesses have now registered with the eInvoicing network to reap the productivity rewards of faster and more reliable payments, Small Business and Manufacturing Minister Chris Penk says.   “eInvoicing is a game changer for small businesses. With limited cash reserves, a late or unpaid invoice can quickly throw businesses off track and create a domino effect of challenges.  “Moving away from slow and administratively intensive paper and PDF invoices could bring $400 million in annual productivity gains across New Zealand and make a real difference to providing stability for small businesses. 
    “That’s why it’s exciting to see eInvoicing picking up serious momentum. To date, more than 160,000 eInvoices have been exchanged, and that number is growing fast.  

    “The benefits are clear: reduced admin costs, improved cash flow, greater accuracy, and stronger protection against invoice fraud and scams. It’s no wonder businesses are making the switch in droves. 
    “The Government is supporting this momentum by updating our own systems.  “Last year, we committed to ensuring all government agencies that process more than 2,000 domestic invoices annually will have eInvoicing systems in place by the end of this year.”  “Smarter ways of working are key to our plan to lift New Zealand’s economic productivity and improve public sector efficiency.  “With more than 50,000 businesses and government on board, eInvoicing has well and truly taken off and will soon be the new normal. I encourage all businesses to switch to eInvoicing so everyone can benefit from this technology,” Mr Penk says. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: Trump’s Systemic Takedown of CFPB is Making U.S. Consumers Less Safe & Increasing Financial Risks for Military Families and Veterans

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC — Despite the fact that the Consumer Financial Protection Bureau (CFPB) has returned over $21 billion to American consumers who were ripped off by abusive and illegal financial activity since 2011, the Trump Administration is working to dismantle the watchdog agency. 

    The Trump White House has moved to dismiss the agency’s entire workforce, canceled the lease for the agency’s headquarters, suspended supervision of big banks, and dismissed open-and-shut cases against predatory lenders for deceiving consumers into paying usurious interest rates.  Two weeks ago, President Trump said in the Oval Office that his goal is for the CFPB to “be totally eliminated.”  Billionaire tycoon Elon Musk—a White House employee who donated $288 million to Trump’s 2024 campaign could personally benefit from rolling back the CFPB’s oversight capabilities— proposed “deleting” the agency.

    U.S. Senator Jack Reed (D-RI) says millions of Americans are more likely to be scammed and ripped off by junk fees after the Trump Administration took recent steps to incapacitate the CFPB, which was set up after the last major financial crisis.  And Reed, who created CFPB’s Office of Servicemember Affairs to help protect military families from financial fraud, says the Trump Administration’s efforts to dismantle the CFPB increase financial risks to service members.

    “Apparently the Trump-Musk administration thinks consumers never get the short end of the stick from unscrupulous businesses, but that’s not the experience of families.  Billionaires don’t have to worry about having enough money to pay the mortgage and feed their kids, but the vast majority of Americans do.  The CFPB exists so that every American has a strong consumer watchdog looking out for their financial well-being, preventing scams, stopping special interests from running amok, and holding offenders accountable.  This is especially true for servicemembers, veterans, and their families, who are disproportionally targeted by predatory lenders and abusive mortgage, debt collection, payday lending, and auto lending schemes and often face greater financial risks than civilian borrowers due to the nature of their military service,” said Senator Reed.  “Since the CFPB was created, it has made real progress taking on special interests, rooting out scammers, and punishing financial abuse, from deceptive mortgages to unfair credit card terms to unscrupulous payday lenders.  We should be building on that progress, not tearing it down and empowering bad actors.”

    The Trump Administration’s short-sighted decision to stop supervision, enforcement, and litigation eliminates key Military Lending Act (MLA) protections that prevent servicemembers from being exploited. The financial and legal protections in these bipartisan laws–most notably a cap on interest rates on mortgages, credit cards, and auto loans–are critical to national defense and military readiness. Troops should focus on their service obligations while on active duty, rather than worrying about making ends meet at home.

    U.S. service members submitted approximately 84,600 complaints to the CFPB in 2023, a 27 percent increase over the previous year.

    Many elderly veterans are targeted for fraud and deceptive schemes, including scams operated by unaccredited veterans benefits claims agents, who charge exorbitant fees for illegitimate assistance with claims.

    At a special CFPB forum in Washington, DC this week, Senator Reed had a chance to speak with Stacey McCall, an Army veteran who was trapped in a doom loop with an auto lender, unable to transfer her title back home after her assignment overseas ended and being unfairly charged for a Toyota vehicle she couldn’t drive.  She worked for nearly a year to resolve it, unsuccessfully, until the CFPB came to the rescue.

    Senator Reed noted his own experience in uniform and how he saw fellow Army soldiers unfairly treated by unscrupulous car dealers: “I discovered how soldiers, sailors, airmen, guardians are used by financial companies a long time ago.  I was the executive officer of a parachute company in the 82nd Airborne Division, and I spent a lot of time talking to my troops and wondering why they signed a contract to buy a car with 250 percent interest. I thought that was a little outrageous.  But more importantly, why would anyone try to exploit a soldier serving the nation and defending the nation?  So, it got me a little bit upset and put it in the back in my mind.”

    Reed cited his experience in the military as one of the reasons for supporting a regulator whose mission is to focus on consumer protection and military families.

    “Whether serving stateside or abroad, U.S. military personnel and their families and veterans deserve financial protection and a watchdog that actively looks out for their financial well-being.  The CFPB’s Office of Servicemember Affairs has been staffed by real people who have done outstanding work providing personalized assistance to those in need.  The Trump Administration is cutting that service off and as a result, more troops will lose their hard-earned paychecks and more families will fall victim to abusive and predatory financial practices,” said Reed.

    The Senate Banking Committee plans to hold a confirmation hearing Thursday for Jonathan McKernan, President Trump’s nominee to lead the CFPB.  Senator Reed says he plans to ask Mr. McKernan about his plans to protect consumers, including military families, and take meaningful enforcement actions against predatory lending.

    MIL OSI USA News –

  • MIL-OSI China: China to lower asset threshold for HK, Macao institutions investing in mainland insurers

    Source: China State Council Information Office

    The National Financial Regulatory Administration (NFRA) on Wednesday announced that China will lower the asset requirement threshold for Hong Kong and Macao financial institutions to invest in mainland insurers, as part of its efforts to deepen opening-up in the financial sector.

    From March 1, Hong Kong and Macao financial institutions will no longer be required to have assets totaling no less than 2 billion U.S. dollars at the end of the previous year to invest in mainland insurance companies, the NFRA said.

    The adjustment follows agreements signed in October 2024 between the mainland and Hong Kong, as well as between the mainland and Macao, to revise the services trade protocols under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) and the CEPA between the mainland and Macao. These revisions include changes to the qualification requirements for Hong Kong and Macao financial institutions looking to invest in mainland insurers.

    This latest move is a significant step in expanding financial opening-up, according to the NFRA. It is expected to help mainland insurance companies attract high-quality investors from Hong Kong and Macao financial institutions, strengthen their capital base, and optimize their equity structures. 

    MIL OSI China News –

  • MIL-OSI China: National high-tech zones host two-thirds of unicorn firms

    Source: China State Council Information Office

    China’s national high-tech industrial development zones have become major bases for startups valued at over 1 billion U.S. dollars, according to the Ministry of Industry and Information Technology.

    The country’s 178 national high-tech industrial development zones were home to approximately 67 percent of China’s unicorn firms by the end of 2024, the ministry told a press conference on Wednesday.

    These zones housed about one-third of the country’s high-tech enterprises and 46 percent of its “little giant” firms, which refer to the novel elites among small and medium-sized enterprises that are engaged in manufacturing, specialize in a niche market and boast cutting-edge technologies.

    Notably, these zones host approximately 60 percent of the country’s publicly listed artificial intelligence (AI) companies and about half of its AI unicorns, the ministry said.

    These zones registered steady economic growth last year, with their total gross domestic product up 7.6 percent year on year in nominal terms.

    These high-tech zones also achieved fruitful results in opening-up and international cooperation, with total import and export volumes of goods and services hitting 9.5 trillion yuan, representing a 2.5 percent year-on-year growth.

    To boost their technological and industrial innovation, the government will combine zone development with strategic national sci-tech resources, and step up its cultivation of gazelle and unicorn companies, according to ministry official Wu Jiaxi. 

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.39 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.39 [2025]

    (Open Market Operations Office, February 27, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB215 billion through quantity bidding at a fixed interest rate on February 27, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB215 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月27日

    MIL OSI China News –

  • MIL-OSI Australia: 4BC Brisbane, Breakfast with Peter Fegan

    Source: Australian Ministers 1

    PETER FEGAN:  Now, you’ll remember last year we reported it here on 4BC and it made headlines nationally, the states were officially put on notice by the Federal Government. The states were saying, show me the money and the Federal Government was simply saying, well, prove what it’s worth. Federal Transport Minister Catherine King told state premiers if they wanted cash, they needed good business cases. It’s pretty smart politics, really. The good news is we’ve passed the test here in Brisbane. Today, we’ll be handed a cheque for $200 million, and it includes funding for one of Brisbane’s oldest icons. The Federal Transport Minister, Catherine King, joins me on the line. Minister, great to have your company this morning.

    CATHERINE KING: So lovely to be with you, Peter. It’s a beautiful day here in Brisbane.

    PETER FEGAN: Now, one of our landmarks, our most famous landmarks, will be getting some cash. Can you reveal it on the program please?

    CATHERINE KING: Yeah. So we’re working with the Brisbane City Council to start to investigate what the cost of and scope of work that are needed to restore and to future maintenance of what is obviously the most iconic bridge, one of the most iconic bridges in the country, apart from the Sydney Harbour Bridge, of course. But it’s- you know, it’s a landmark. And so we’re putting in alongside Brisbane City Council together, $5 million to really get that work done, to see what is it that we’re going to need to do. It’s going to need more cash into the future. But this is really starting the process of working with the council to look at what do we need to make sure this bridge stays there into the future and is as strong as it possibly can be, and we keep it there for many, many generations to enjoy.

    PETER FEGAN: Now, there was also $1 million that’s been put aside to investigate a bridge from West End to Toowong. Well, Minister, I’m going to do you a favour here this morning. I’m going to save you that $1 million, and I’m going to say this, just build it because we’ve wanted it for so long. 

    CATHERINE KING: [Laughs] Well, unfortunately we have to work out the cost of these things first. And part of what you do with the business case and the planning is you do the geotech work. You have a look at what services need to be moved so that you can then- the city council can come to me and say, well, look, we need this amount of money to actually build it. So that’s really just the start of the process. And I was at the opening, obviously, of Kangaroo Point Bridge. I’ve seen hundreds and hundreds of people have been using that. We want to see people being able to access all parts of the city. And so this is again, just working with the Brisbane City Council, doing that planning work, finding out how much- you know, we really need to understand how much it costs and then sort of getting on with it once we’ve got that understanding.

    PETER FEGAN: Minister, no more footbridges. We need cars to go across. We drive here in Brisbane. We don’t get transport, unfortunately.

    CATHERINE KING: Well, we do lots of things. I think people catch buses.

    PETER FEGAN: [Laughs]

    CATHERINE KING: So obviously, there’s the Brisbane Metro [indistinct], there’s people do that. People will cycle. I’ve seen people everywhere doing that. I’ve seen people walking across footbridges and then I’ve obviously seen- in terms of lots of cars as well. Everyone does all of those things. But cars are obviously pretty important here in Queensland.

    PETER FEGAN: Minister, I found this one very interesting, being somebody that grew up in the western suburbs of Brisbane, plenty of people listening to me from the west this morning, they’ll find this interesting. $78.5 million towards cost pressures on the Moggill Road Corridor upgrade project, replacing Indooroopilly roundabout with an overpass over Moggill Road. Now that’s great, but what about the Moggill Road corridor in particular? And then that’s further out towards Moggill. And I’m talking about land that had been put aside. Government land, Crown land that’s been put aside since Malcolm Fraser’s days. And yet people that live out in those western suburbs are still struggling to get to work, because we haven’t used that parcel of land. Can you give a guarantee that one day we may use it?

    CATHERINE KING: What again, we do is work in partnership with councils. So obviously Brisbane City Council is in a really unique position across the country that it has such a substantial road and obviously public transport network that it has to fund and build itself. So we work closely with Brisbane City Council and also state governments. They bring projects forward to us in budget and we make considerations of those. We’ve got to do the planning work first, make sure we understand it, but know if the council or the state government want to bring that forward. I, of course, will give it due consideration in the budget process.

    PETER FEGAN: $7.2 billion upgrade to fix the Bruce Highway. I think this is the most contentious topic here in Queensland. And I got to say, Minister, when it comes to the election, this will be one of the most divisive topics and I think you’ll either win or lose votes here. $7.2 billion upgrade to fix the Bruce, right? That’s one hell of an obligation to Queenslanders in particular. But I’ve got to say this, Minister, we are reluctant to believe either government, particularly this Labor Government at the moment, because it was this government that had turned its back on the Bruce and had switched the funding arrangement around. $7.2 billion sounds fantastic. I’ve got to say, on behalf of all Queensland, Minister, we just need to get on with it. We need this highway to be safe.

    CATHERINE KING: Absolutely. And that’s why, you know, the earliest possible opportunity we did, we’ve made the announcement at that $7.2 billion. Money will flow this year and every subsequent year.  We’ve said we’ll get it done in eight years. We’ve asked the Queensland Government to deliver that …

    PETER FEGAN: [Talks over] But it’s been 50.

    CATHERINE KING: … then obviously [indistinct].

    PETER FEGAN: 50 or 60 years, Minister. It’s 50 or 60 years and not one government can fix it.

    CATHERINE KING: Well, this Government has made the single biggest contribution to the Bruce Highway ever. And this is a Labor Government that has done that. And if you look back when we were last in office, prior to that, it was the then infrastructure minister, now Prime Minister, who then made the single biggest commitment to this.

    This is a Labor legacy, and we are absolutely committed to making the Bruce Highway safer. We’ve been in government obviously two and a half years. And I do want to make it really clear, no money has ever been cut from the Bruce Highway. What we have said is-

    PETER FEGAN: But the funding agreement- the funding- hang on, Minister, the funding agreement, that’s not true. The funding agreement was an 80/20 split…

    CATHERINE KING: [Talks over] That’s true…

    PETER FEGAN: … and you- but you changed that. So that’s funding cutting. Hang on, Minister, you changed that. It was an 80/20 split, but you say no funding has ever been cut. If you change- if you go from 80/20 to 50/50, that to me- I’m not a mathematician, but that’s a 30 per cent cut in funding.

    CATHERINE KING: So no, it isn’t. And so I want to make that really clear. I think there’s some confusion about that and been a bit of mischief about that. So first thing is not a single dollar has been cut from the Bruce Highway. In fact, the commitment that we’ve got, there’s $10 billion that has already been spent on the Bruce Highway. That has remained, and then we’ve put in an additional 7.2 billion. We’ve recognised on the Bruce Highway, in particular because of the safety concerns, 41 deaths just last year alone, that we will continue to fund that on an 80/20 basis.

    But what we did announce is that because the Commonwealth is now increasingly funding suburban roads, public transport and has stepped into the space of the state governments, largely, we’re now on other roads, particularly across the country, now requiring the state to also step up its commitment. We’re not dropping any of our funding. There’s still $125 billion worth of Commonwealth funding going to states and territories. We’re not dropping that. We’re just asking the states to step up with their contribution as well. So it’s not a cut to our funding. We’re asking the states to step in in the same way we’re stepping in on suburban roads now, but generally were 100 per cent of the state to fund.

    PETER FEGAN: It’s bang on quarter after eight. My guest this morning is the Federal Transport Minister, Catherine King. $200 million being announced today in funding for our roads here in Brisbane and in the South East. Minister, I’ve got to say this. It’s smart politics to ask the states to present you a case study because money is really, really tight, particularly on a federal level. So I like it. I think it’s good politics, and I think that that’s what the states should have to do. The reason I’m asking you about this, though, is because we need a really nice, new shiny stadium here in Queensland and particularly in Brisbane. We’ve got the Olympics coming. Now, if there was a case study put forward by David Crisafulli for a brand-new stadium, you’d be on board, wouldn’t you?

    CATHERINE KING: Well, the thing that we have put money towards, so there’s $3.5 billion capped from the Commonwealth going into the Olympics. We have said the Commonwealth’s contribution will go towards the Brisbane Arena. $2.5 billion is going towards that, we think, will leave a really significant legacy for an entertainment venue here in the heart of Brisbane – really necessary. We’ve also said we will 50/50 share the minor venues. Obviously, the Queensland Government is undertaking a review of those venues at the moment, but the Commonwealth has done- we’ve done the work, we’ve done the business case, the work is ready to go on the Brisbane Arena and that remains- you know, remains there on the table to build that arena for Brisbane. We think it’s needed and it will leave a great legacy for the community.

    PETER FEGAN: Let’s hope they’re listening, because it’s next month that we announce whether we’re going to get a new stadium or not. Before I let you go, Minister, what did you make of today’s announcements? I want to get your thoughts on this because your government has approved a deal between Virgin and Qatar Airways. Now, this is a deal that would see Qatar be able to invest in Virgin. It means there’s going to be more Qatar flights. It means we can spread our wings a little bit. Should hopefully cheapen flight prices here in Australia. But I’ve got to think back, if my memory serves me correctly, it was you that clipped Qatar’s wings in the first place.

    CATHERINE KING: So what we’ve had announced today is that the Treasurer has approved the Foreign Investment Review Board’s decision that Qatar Airways, the Qatari government, can invest in Virgin, and that obviously allows Virgin to do a number of things in terms of it going forward. Obviously, Bain Capital is wanting to withdraw and have Qatar now come in as the major investor. What it’s allowed us also to do is ensure that there are some Australians on the board of Virgin to make sure that we’ve got that in place and that they’re in fact opportunities to train Australian pilots, as again, Qatar has been granted through Virgin some wet leases to increase its flights, its international flights and create that competition. And I think that’s a good thing.

    PETER FEGAN: Before I let you go, we’ve got some breaking news. The election, 12 April. Is that right?

    CATHERINE KING: [Laughs] Very nice try there. What a sneaky way to do it, you cheeky thing.

    PETER FEGAN: [Laughs] I should have just – I shouldn’t have laughed.

    CATHERINE KING: You should have just- I know, I nearly believed you then. You just got me. I’ve got three brothers who do that to me all the time.

    PETER FEGAN: What would you have said, though?

    CATHERINE KING: I don’t know, I have absolutely no idea. [Indistinct] to the Prime Minister, but very cheeky. You nearly got me.

    PETER FEGAN: Good on you, Minister. We’ll chat again very soon.

    CATHERINE KING: Lovely to talk to you, Peter.

    PETER FEGAN: There she is. That’s the Federal Transport Minister, Catherine King.

    MIL OSI News –

  • MIL-OSI Submissions: Tech – Bridgetown Research raises $19M from Lightspeed and Accel to deploy AI business research agents

    Source: Stockwood Strategy

    Bridgetown Research is building the first AI agents focussed on research and analysis using primary and secondary data for verticals including private equity, consulting and strategy

    Seattle, Washington – February 26, 2025: Strategic business decisions have traditionally been expensive and slow for a fundamental reason: they don’t happen enough. This means companies lack both historical data to learn from and experts who have seen enough similar cases. Bridgetown Research is changing that. Today, the AI decision science startup announced $19 million in Series A funding led by Lightspeed and Accel, with participation from a leading research university.
     
    Bridgetown Research has developed AI agents that autonomously execute research. Most notable amongst these agents are voice bots trained to recruit and interview industry experts, gathering primary data that can be analyzed alongside alternative data sourced from their partners.
     
    Founded by Harsh Sahai, who previously led machine learning teams at Amazon before leading strategy engagements at McKinsey & Co., Bridgetown Research was born from a simple observation: the majority of business analyses are a permutation of a small number of automatable tasks. The founding team, comprising former professionals from McKinsey, Bain, Amazon, and leading tech startups, brings together extensive experience across strategy consulting and technology.
     
    “We are excited to be a catalyst for change. We are working with multiple private equity firms, management consulting firms, and corporate teams to help make strategic decisions better and faster. This in turn is driving up demand for advisory and information services downstream. We enable $10+ of advisory and information services revenue for every $1 we make. Together with leading institutions, we’re building something bigger than ourselves—an ecosystem where everyone thrives,” commented Harsh Sahai, CEO & founder of Bridgetown Research.
     
    While many AI solutions focus on searching and summarizing information using LLMs, real world business decisions require much more than synthesising the open web. They need proprietary data such as primary data from experts and customer surveys, along with frameworks to understand markets, what Harsh Sahai calls “ontologies”. Moreover, outputs need to be repeatable and auditable for a business to use them to make decisions with tens of millions of dollars at stake. Bridgetown Research is the only player using agents to gather primary data and systematically find patterns in it to generate original insights.
    “AI is causing widespread disruptions across many enterprise functions, and Bridgetown Research is riding that wave by assisting executives in making important strategic decisions. We are pleased to see Bridgetown serving several marquee customers, with users likening its platform to having a team of top-tier consultants at their fingertips. We are excited to partner with Harsh, who, with his background as an ace AI research scientist turned management consultant, blends a unique combination of skills and insight needed to imagine this whole new category of applied AI,” said Anagh Prasad, Investor at Accel.

    Bridgetown Research started with a focus on private equity deal screening diligence. Multiple top-tier PE & VC firms already use Bridgetown Research for deal screening and deeper commercial diligence. They’re able to screen their pipeline much faster with initial analysis taking 24 hours instead of weeks without Bridgetown enabling teams to focus on actual decision making instead of research and analysis. For other customers Bridgetown has enabled voice of customer conversations that cover hundreds of respondents in parallel, and within days.
     
    Ishaan Preet Singh, Investor at Lightspeed added “Companies are built on the quality of strategic decisions, and the research and analysis behind it. Bridgetown Research enables the smartest executives and investors to make these decisions with an order of magnitude more information, and at a pace that was earlier impossible. Harsh and Bridgetown are already creating immense value for their customers, but are still just scratching the surface of the leverage that AI can create.”

    As global markets become increasingly complex, the demand for efficient and effective decision-making tools continues to rise. With this funding round, Bridgetown Research plans to invest further in training its AI agents to perform a broader set of analyses across a broader range of domains, and deepening industry partnerships to enhance access to domain-specific intelligence.

    About Bridgetown Research
    Bridgetown Research builds AI agents for decision research. Its voice agents and web crawlers find and clean data, while its analyses agents produce repeatable, auditable, and reliable analyses. The team consists of computer scientists, econometricians, software engineers, investors and business consultants, working across geographies. For more information please visit https://www.bridgetownresearch.com/

    About Accel
    Accel is a global venture capital firm that aims to be the first partner to exceptional teams everywhere (Facebook, Flipkart, etc.), from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Infra.Market, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Mensa Brands, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit: www.accel.com
     
    About Lightspeed
    Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox, Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Physics Wallah, Razorpay, Rubrik, Sharechat, Snap, OYO Rooms, Ultima Genomics, Zepto and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com

    MIL OSI – Submitted News –

  • MIL-OSI USA: Senator Markey Raises Concerns Over Conflict of Interest with FAA Deployment of Elon Musk’s Starlink Terminals

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

     Letter Text (PDF)

    Washington (February 26, 2025) – Senator Edward J. Markey (D-Mass.), member of the Senate Committee on Commerce, Science, and Transportation, today wrote to Chris Rocheleau, Acting Administrator of the Federal Aviation Administration (FAA), with questions about the FAA’s recent decision to deploy three Starlink terminals, which provide broadband internet connectivity through a satellite network, from Elon Musk’s SpaceX. Given Musk’s dual positions as CEO of SpaceX and wide-spread role in the Trump administration, this decision creates an appearance of a conflict-of-interest. The FAA has not released any information about SpaceX employees’ role in the FAA or whether the Administration has agreed to or implemented any ethics agreements to ensure Musk and the SpaceX employees do not improperly use their FAA access to benefit SpaceX.

    In the letter, Senator Markey wrote, “The FAA’s recent announcement — made on X, another company owned by Musk — that it was testing one Starlink terminal in Atlantic City and two terminals at non-safety critical sites in Alaska raises questions about the process by which this deployment occurred. Although Musk’s role in the Trump administration remains ambiguous, he is reportedly serving as a ‘special government employee’ and SpaceX engineers have reportedly been touring FAA facilities and were brought on as your senior advisers… Although I recognize that Starlink could be helpful in ensuring reliable connections in remote areas, such as Alaska, given the overlapping relationships with Musk and SpaceX employees, transparency is critical to ensure that the Starlink deployments are serving FAA’s core safety mission.”

    Senator Markey requested answers by April 9, 2025, to questions that include:

    • Please provide any final contract award to SpaceX for the three SpaceX terminals that FAA recently deployed.
    • Are reports accurate that SpaceX engineers are currently serving as your senior advisors?
    • Has Musk had any access to the FAA’s offices or FAA employees?
    • Have you had any communications with Musk about using Starlink terminals as part of the FAA’s IT systems?
    • Did Musk or any SpaceX engineers have any role in any agreement with SpaceX to deploy the Starlink terminals?

    MIL OSI USA News –

  • MIL-OSI China: Hamas hands over bodies of 4 Israeli hostages to ICRC in Gaza

    Source: China State Council Information Office

    Al-Qassam Brigades, the armed wing of Hamas, handed over the bodies of four Israeli hostages on Wednesday night to the International Committee of the Red Cross (ICRC), a source with Hamas told Xinhua.

    Al-Qassam Brigades handed over the bodies to the ICRC team, and the team will deliver them to the Israeli army through Kerem Shalom crossing in the southern Gaza Strip, the source said.

    In return, Israel is expected to release more than 600 Palestinian detainees, including women and children, as part of the first phase of the agreement.

    Hundreds of Palestinian families of the prisoners have already gathered in Gaza Strip and the West Bank to welcome their freed relatives, witnesses said.

    The exchange follows an agreement between Hamas and Israel, brokered by Egypt, to resolve the dispute over the delayed release of Palestinian prisoners.

    MIL OSI China News –

  • MIL-OSI China: Israel begins to release hundreds of Palestinian prisoners

    Source: China State Council Information Office

    A released Palestinian prisoner gestures while getting off a bus in the West Bank city of Ramallah, Feb. 8, 2025. [Photo/Photo]

    Israeli authorities on Thursday began releasing more than 600 Palestinian prisoners from Israeli jails as part of the Gaza ceasefire agreement between Hamas and Israel, according to Palestinian sources.

    Palestinian sources told Xinhua that buses carrying the prisoners departed from Ofer Prison in the central West Bank, heading toward a reception center in the Beitunia area.

    The Hamas-linked Prisoners’ Information Office said that the seventh and eighth batches of prisoner releases were merged, bringing the total number to 642.

    This release is part of the first phase of the deal brokered by Egypt and Qatar, with support from the United States. Hamas described this release as the largest so far under the ceasefire arrangement.

    “We are witnessing one of the achievements of the Palestinian people with the release of the seventh and eighth batches of prisoners, which is the largest so far within the ceasefire agreement arrangements,” Hamas spokesperson Hazem Qassem said in a press statement.

    He added that Hamas prioritizes the release of Palestinian prisoners in any exchange deal. He also noted that the group had responded to mediators’ requests regarding new mechanisms for exchanging bodies, ensuring Israel’s commitment to the process.

    On Tuesday, Hamas announced it had resolved a dispute over the delayed release of Palestinian prisoners, which was originally scheduled for last Saturday. The resolution followed talks between a Hamas delegation and Egyptian officials in Cairo.

    The delay occurred after Israeli Prime Minister Benjamin Netanyahu demanded assurances from mediators that there would be no repeat of what he described as “provocative military parades” organized by Hamas during previous handover operations, which he considered “insulting to the rights of Israeli hostages.”

    MIL OSI China News –

  • MIL-OSI China: Trump says to impose 25% tariffs on EU products

    Source: China State Council Information Office 3

    U.S. President Donald Trump returns to the White House via Marine One in Washington, D.C., the United States, Feb. 22, 2025. [Photo/Xinhua]

    U.S. President Donald Trump said on Wednesday that his administration has made a decision to impose 25 percent tariffs on products from the European Union (EU), including cars.

    “We have made a decision. We’ll be announcing it very soon, and it’ll be 25 percent generally speaking, and that’ll be on cars and all other things,” Trump told reporters at a White House cabinet meeting.

    Trump claimed that the European Union has “taken advantage of” the United States. “They don’t accept our cars, they don’t accept, essentially, our farm products. They use all sorts of reasons why not. And we accept everything of them, and we have about a 300 billion dollar deficit with the European Union,” he said.

    Politico previously reported that the 300-billion-U.S.-dollar deficit is overstated. “In 2023, the U.S. goods trade deficit with the bloc was 155.8 billion euros, according to EU data. In services, however, the U.S. had a surplus of 104 billion euros, bringing the overall trade balance to 51.8 billion euros (roughly 56 billion U.S. dollars),” according the report.

    When asked by a reporter whether he would continue to delay tariffs on Mexico and Canada due to progress on border control, Trump said he would not prevent the tariffs from taking effect and claimed that the influx of fentanyl had caused “millions of deaths.”

    “I’m not stopping the tariffs. No,” Trump said.

    U.S. Secretary of Commerce Howard Lutnick explained two key deadlines related to the tariffs. Previously, the tariffs on Mexico and Canada had been delayed for one month and is set to take effect on March 4, and the two countries needed to prove to the president before the deadline that they had taken satisfactory actions in controlling the entry of fentanyl. Trump said that “it will be hard to satisfy.”

    Lutnick also noted that the overall tariff actions against more countries would be implemented on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products. On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations.

    On Monday, Trump said that tariffs on Mexico and Canada will “go forward.”

    MIL OSI China News –

  • MIL-OSI New Zealand: Tech and Security – New Zealand coming second in the region in the number of malware incidents, new analysis shows – NordVPN

    Source: NordVPN

    According to new research by the cybersecurity company NordVPN, over 83 million malware incidents have been recorded in 2024 in New Zealand, emphasizing the growing cybersecurity threats.

    Internet users should be extra careful when clicking links seemingly sent by Big Tech companies – there’s quite a big chance it might be a deliberately misspelled phishing link. Data shows that Google, Facebook, and Microsoft are the top three brands most likely to be impersonated for credential harvesting.

    “In fact, the majority of all phishing attacks use around 300 brand names for deception. The brands themselves are not at fault – such fakes hurt their reputation as well, forcing companies to actively hunt them down. However, high brand awareness can lull victims into a false sense of security and get them to lower their guard,” says Adrianus Warmenhoven, a cybersecurity advisor at NordVPN.

    According to the same research, last year there were almost 85,000 fake URLs that impersonate Google websites and services. With more than 6,000 fake URLs online, Facebook takes second place as the scammers’ favorite. Microsoft is in third place, with almost 5,000 fake URLs. Fake AT&T, Yahoo!, and Netflix links should be evaluated more carefully as well. In each of those cases there were around 4,000 fake URLs online.

    New Zealand experienced more than 83 million malware incidents in 2024 – the second number in Oceania, with Australia leading the region with more than 351 million incidents per year.

    An array of security threats

    Data analysed by NordVPN suggest you should also stay away from free video hosting sites (yes, that includes anime hosting websites) and a few other categories. Throughout 2024, NordVPN’s Threat Protection Pro feature blocked more than 1.5 billion malware infection attempts on video hosting sites. Other domain categories with the most malware are: entertainment (almost 1 billion malware blocked) and sports (124 million). Just a little behind are adult content sites (109 million malware blocked) and file sharing and storage websites (almost 74 million).

    “The above mentioned categories, free video hosting sites in particular, tend to contain a variety of  security and privacy threats. Not only malware, but intrusive ads and trackers as well. Over the past year, Threat Protection Pro blocked almost 7 billion ads and more than 119 billion trackers on video hosting sites alone. This accounts for 25% off all blocked trackers by Threat Protection Pro in 2024,” says Adrianus Warmenhoven.

    Know your enemy

    Web trackers are a broad category of privacy-invading tools that collect information on user activity. Trackers typically take the form of special scripts, browser cookies, or tracking pixels. Businesses use trackers to paint an accurate picture of you for targeted advertising – but if they suffer a data breach, the stored tracker data could end up falling into the hands of cybercriminals.

    Warmenhoven adds that websites often share or sell data collected by trackers to third parties. Those who want to protect their privacy can use several tools to become less trackable, such as tracker blockers, which prevent websites and advertisers from collecting data about your online activity.

    Malware refers to any kind of programming that was deliberately designed to harm you or your device. This includes malicious software like viruses, trojans, ransomware, and spyware. Malware can steal sensitive data, encrypt important files, or even take over the machine, putting the criminal in complete control.

    “It is important to know that malware must be actively brought onto your device, such as by downloading an infected file. One of the most common ways to get infected with malware is through phishing attacks. Scammers use deceptive misspellings of popular brands (such as spelling “Amazon” as “Arnazon”) to trick victims into clicking phishing links and downloading infected files. So you should always check the spelling before clicking,” notes Warmenhoven.

    Intrusive advertising refers to ads that actively interfere with your online experience. Intrusive ads aren’t content to just stay on the sidelines – they may distract you by popping up randomly while you’re scrolling, open additional browser tabs, hog bandwidth with lengthy videos, or even hijack the page you’re on. Even worse, some intrusive ads may try to infect your device or redirect you to malicious websites.

    Cybersecurity expert advice on how to protect yourself

    To protect yourself from common cybersecurity threats like malware, trackers, and intrusive ads, Adrianus Warmenhoven advises to take these precautions:

    Avoid a “free lunch.” Certain web domain categories are much more likely to host malware that could compromise your device than others. One of the most prominent categories is free video hosting sites.

    Be wary of unsolicited emails and messages. Phishing scams are one of the main methods used by criminals to steal personal and financial data. Emails promising too-good-to-be-true promotions, invitations, or gifts, are probably not true. Messages asking you to update your data or just click on a link may also be versions of phishing.

    Don’t get scared and check the links. Cybercriminals prey on confusion and ignorance. They try to scare people, hoping that victims will act on emotion. Don’t do that. Try not to click on links that try to scare you or promise you riches – check the spelling first.

    Verify downloads. Malware executables may be disguised as or hidden in legitimate files. Always verify the website you want to download from, and always use anti-malware tools like Threat Protection Pro to inspect the files you download.

    Limit data exposure. Information such as location, full name, and other personal details can be used by criminals for scams and cyberattacks. Adjust your privacy settings and avoid sharing sensitive data publicly, such as on social networks.

    Keep your devices updated. Outdated software is an easy target for cyberattacks. Make sure to keep your operating system, applications, and antivirus software up to date to fix vulnerabilities and ensure greater protection.

    Methodology: The statistics mentioned above were acquired by analyzing aggregated data gathered by NordVPN’s Threat Protection Pro service from January 1, 2024 to January 1, 2025. NordVPN is not endorsed by, maintained, sponsored by, affiliated, or in any way associated with the owners of the mentioned brands. Brands are indicated solely for the purpose of accurately reporting information related to brands that were most likely to be impersonated for spreading malware.

    ABOUT NORDVPN

    NordVPN is the world’s most advanced VPN service provider, used by millions of internet users worldwide. NordVPN provides double VPN encryption and Onion Over VPN and guarantees privacy with zero tracking. One of the key features of the product is Threat Protection , which blocks malicious websites, malware during downloads, trackers, and ads. The latest service by the Nord Security team is Saily — a new global eSIM. NordVPN is very user friendly, offers one of the best prices on the market, and has over 6,200 servers covering 111 countries worldwide. For more information: https://nordvpn.com.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Business – Connecting New Zealand Businesses Globally; Airwallex Expands Cross-Border Payment Capabilities for Kiwi Businesses

    Source:  Airwallex

    • Airwallex launches in New Zealand, appointing Lowry Gladwell as Associate Director and first local employee.
    • Commitment to local growth, with plans to expand the team to 10 employees on ground by the end of 2025.
    • New product rollouts, including corporate cards, online payments and expanded Airwallex for Startups offerings, to support Kiwi businesses.
    • Partnering with top NZ brands, already working with Rodd & Gunn, Tracksuit and Auror.

    Auckland, New Zealand, 26 February, 2025 – Global fintech leader Airwallex has officially launched in Aotearoa, marking a significant milestone in its mission to provide businesses with faster, cost-effective, and more innovative financial solutions.

    With a firm commitment to supporting New Zealand’s thriving business ecosystem, Airwallex has appointed Lowry Gladwell as its Associate Director of New Zealand, the company’s first local employee, to lead its ambitious expansion plans. Gladwell will be joined by Matt Sek, a key regional leader, as Airwallex aims to grow its New Zealand team to 10 employees by the end of 2025.

    “With New Zealand businesses increasingly looking for agile, cost-effective financial solutions, Airwallex is here to challenge the status quo,” said Gladwell. “Our entry into this market represents more than just expansion — it’s about providing Kiwi businesses with the tools they need to grow globally without the friction and high costs of traditional banking.”

    A New Era of Financial Solutions for New Zealand Businesses

    As part of its expansion, Airwallex is rolling out several new product offerings tailored to the needs of New Zealand businesses. The company’s corporate cards offering will be bolstered with a physical card version to complement the existing virtual option. These solutions will empower Kiwi companies to manage expenses more efficiently, reducing high transaction fees and improving financial control. In addition, online payments  will sit alongside existing FX, global accounts and company and employee cards.

    “Managing business spending shouldn’t be a hassle,” said Matt Sek, VP SME & Growth, ANZ. “Our new corporate card solution makes it easier for teams to handle expenses while ensuring greater transparency and efficiency, while payment acceptance allows businesses to accept payments from customers around the globe with fast, flexible settlements and a seamless checkout experience. This is just the beginning of our commitment to providing smarter, more intuitive financial tools for New Zealand businesses.”

    A Tailored Approach for New Zealand’s Unique Market

    New Zealand’s business environment, while dynamic, has long been dominated by a concentrated banking sector, leading to high fees and sluggish international transactions. Airwallex is set to disrupt the market by offering lower costs, competitive FX rates, and faster payments — critical advantages for businesses operating globally, particularly in New Zealand’s high-growth SaaS and export sectors.

    With the country’s economic recovery underway following a challenging period, Airwallex’s presence comes at a crucial time. The company’s solutions will provide much-needed financial agility for businesses looking to scale, particularly as New Zealand strives to double its export growth over the next decade.

    Empowering New Zealand Startups and “Soonicorns”

    Airwallex has already demonstrated strong support for startups in New Zealand, with significant sign-ups under its Airwallex for Startups initiative. By offering streamlined international payments, global accounts, and competitive FX rates, Airwallex is positioning itself as a vital partner for the country’s burgeoning startup ecosystem.

    “We see huge potential in New Zealand’s startup space,” added Gladwell. “We want to support the next wave of ‘soonicorns’ by providing them with the financial infrastructure needed to scale globally.”

    Industry Expertise and Established Partnerships

    “We understand that the key industries of growth in New Zealand include Tourism,  eCommerce, and Tech,” said Gladwell. “Airwallex is already working with some of the country’s most innovative and well-established brands, including Rodd & Gunn, Tracksuit and Auror. Our deep knowledge of these industries allows us to tailor our solutions to meet the unique needs of Kiwi businesses, helping them navigate global expansion with ease.”

    Looking Ahead

    Airwallex’s entry into New Zealand marks a long-term investment in the country’s business landscape. As the company continues to grow its local team and expand its offerings, it remains committed to helping Kiwi businesses navigate the evolving financial landscape with confidence.

    “Our goal is simple,” concluded Gladwell. “We’re here to provide New Zealand businesses with better experiences, lower fees, and faster payments in a market that’s crying out for competition. We’re excited for what’s ahead.”

    About Airwallex

    Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 150,000 businesses globally and is trusted by brands such as AS Colour, Rodd & Gun, Tracksuit and many more. For more information, visit http://www.airwallex.com

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Tech and Business – Oracle Services Power IT Modernization in Asia Pacific

    Source: Information Services Group, Inc.

    Enterprises embrace providers with GenAI tools to improve enterprise cloud migrations, optimize Oracle investments, ISG Provider Lens report says.

    A growing number of enterprises in Asia Pacific are seeking Oracle ecosystem services to help them carry out digital transformations to remain competitive in rapidly changing markets, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific finds many large Oracle customers are modernizing legacy systems, navigating cloud migrations and evaluating hyperscale cloud options. Service providers are helping clients optimize their Oracle investments, often with the use of AI tools, while Oracle is increasingly investing in talent development and collaboration in the region, including partnerships with governments in Singapore, Australia and India for large-scale training programs.

    “Companies in Asia Pacific need digital transformation to stay relevant,” said Michael Gale, partner and regional leader, ISG Asia Pacific. “Oracle and its partners are rising to the challenge by strengthening their expertise and developing talent in the region.”

    Large organizations in manufacturing, retail, financial services, consumer packaged goods and the public sector are increasing their use of Oracle services, the report says. In addition to modernization planning and execution, many seek help addressing regional nuances such as data sovereignty and compliance requirements, especially in India, Singapore, Malaysia, Australia and New Zealand.

    Outdated legacy systems are holding back many organizations in the region, leading to rising demand for both consulting and advisory services to plan modernization initiatives, ISG says. To reach strategic goals and maximize Oracle investments, enterprises seek providers that demonstrate domain expertise and the ability to innovate. Carrying out transitions with minimal disruption and consistent data integrity is a key requirement.

    Companies seeking to maintain Oracle performance and uptime amid cost, compliance and complexity challenges are driving up demand for managed services in Asia Pacific, the report says. Comprehensive services allow clients to optimize resource management, enhance productivity and focus on strategy.

    More enterprises in the region are adopting Oracle Cloud Infrastructure (OCI), often leveraging local data centers and integrating advanced tools, ISG says. A key requirement is the availability of generative AI for process automation and management of multicloud environments. Companies give priority to service providers that offer comprehensive support for Oracle and non-Oracle environments and enhance integration across cloud platforms.

    “Enterprises in Asia Pacific are choosing leading OCI providers with a strong local presence,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Along with competitive pricing and proven track records in Oracle migrations, this fosters trust.”

    The report also examines other trends affecting Oracle users in Asia Pacific, including enterprises consolidating providers of comprehensive application management services and the impact of OCI’s recently introduced interoperability across AWS, Azure and Google Cloud.

    For more insights into the challenges faced by enterprises using Oracle in Asia Pacific, see the ISG Provider Lens Focal Points briefing here.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific evaluates the capabilities of 28 providers across four quadrants: Consulting and Advisory Services, Implementation and Integration Services, Managed Services and OCI Solutions and Capabilities.

    The report names Accenture, Cognizant, Deloitte, HCLTech, Infosys, LTIMindtree, TCS, Tech Mahindra and Wipro as Leaders in all four quadrants. It names PwC as a Leader in three quadrants and KPMG as a Leader in two quadrants. Capgemini is named as a Leader in one quadrant.

    In addition, Capgemini, DXC Technology and Kyndryl are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

    In the area of customer experience, Capgemini is named the global ISG CX Star Performer for 2024 among Oracle Cloud and Technology Ecosystem providers. Capgemini earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence program, the premier quality recognition for the technology and business services industry.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific is available to subscribers or for one-time purchase on this webpage.

    About ISG Provider Lens Research

    The ISG Provider Lens Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

    About ISG

    ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

    MIL OSI – Submitted News –

  • MIL-OSI Australia: Transcript-interview-4BC Brisbane, Breakfast with Peter Fegan

    Source: Australian Ministers for Regional Development

    PETER FEGAN:  Now, you’ll remember last year we reported it here on 4BC and it made headlines nationally, the states were officially put on notice by the Federal Government. The states were saying, show me the money and the Federal Government was simply saying, well, prove what it’s worth. Federal Transport Minister Catherine King told state premiers if they wanted cash, they needed good business cases. It’s pretty smart politics, really. The good news is we’ve passed the test here in Brisbane. Today, we’ll be handed a cheque for $200 million, and it includes funding for one of Brisbane’s oldest icons. The Federal Transport Minister, Catherine King, joins me on the line. Minister, great to have your company this morning.

    CATHERINE KING: So lovely to be with you, Peter. It’s a beautiful day here in Brisbane.

    PETER FEGAN: Now, one of our landmarks, our most famous landmarks, will be getting some cash. Can you reveal it on the program please?

    CATHERINE KING: Yeah. So we’re working with the Brisbane City Council to start to investigate what the cost of and scope of work that are needed to restore and to future maintenance of what is obviously the most iconic bridge, one of the most iconic bridges in the country, apart from the Sydney Harbour Bridge, of course. But it’s- you know, it’s a landmark. And so we’re putting in alongside Brisbane City Council together, $5 million to really get that work done, to see what is it that we’re going to need to do. It’s going to need more cash into the future. But this is really starting the process of working with the council to look at what do we need to make sure this bridge stays there into the future and is as strong as it possibly can be, and we keep it there for many, many generations to enjoy.

    PETER FEGAN: Now, there was also $1 million that’s been put aside to investigate a bridge from West End to Toowong. Well, Minister, I’m going to do you a favour here this morning. I’m going to save you that $1 million, and I’m going to say this, just build it because we’ve wanted it for so long. 

    CATHERINE KING: [Laughs] Well, unfortunately we have to work out the cost of these things first. And part of what you do with the business case and the planning is you do the geotech work. You have a look at what services need to be moved so that you can then- the city council can come to me and say, well, look, we need this amount of money to actually build it. So that’s really just the start of the process. And I was at the opening, obviously, of Kangaroo Point Bridge. I’ve seen hundreds and hundreds of people have been using that. We want to see people being able to access all parts of the city. And so this is again, just working with the Brisbane City Council, doing that planning work, finding out how much- you know, we really need to understand how much it costs and then sort of getting on with it once we’ve got that understanding.

    PETER FEGAN: Minister, no more footbridges. We need cars to go across. We drive here in Brisbane. We don’t get transport, unfortunately.

    CATHERINE KING: Well, we do lots of things. I think people catch buses.

    PETER FEGAN: [Laughs]

    CATHERINE KING: So obviously, there’s the Brisbane Metro [indistinct], there’s people do that. People will cycle. I’ve seen people everywhere doing that. I’ve seen people walking across footbridges and then I’ve obviously seen- in terms of lots of cars as well. Everyone does all of those things. But cars are obviously pretty important here in Queensland.

    PETER FEGAN: Minister, I found this one very interesting, being somebody that grew up in the western suburbs of Brisbane, plenty of people listening to me from the west this morning, they’ll find this interesting. $78.5 million towards cost pressures on the Moggill Road Corridor upgrade project, replacing Indooroopilly roundabout with an overpass over Moggill Road. Now that’s great, but what about the Moggill Road corridor in particular? And then that’s further out towards Moggill. And I’m talking about land that had been put aside. Government land, Crown land that’s been put aside since Malcolm Fraser’s days. And yet people that live out in those western suburbs are still struggling to get to work, because we haven’t used that parcel of land. Can you give a guarantee that one day we may use it?

    CATHERINE KING: What again, we do is work in partnership with councils. So obviously Brisbane City Council is in a really unique position across the country that it has such a substantial road and obviously public transport network that it has to fund and build itself. So we work closely with Brisbane City Council and also state governments. They bring projects forward to us in budget and we make considerations of those. We’ve got to do the planning work first, make sure we understand it, but know if the council or the state government want to bring that forward. I, of course, will give it due consideration in the budget process.

    PETER FEGAN: $7.2 billion upgrade to fix the Bruce Highway. I think this is the most contentious topic here in Queensland. And I got to say, Minister, when it comes to the election, this will be one of the most divisive topics and I think you’ll either win or lose votes here. $7.2 billion upgrade to fix the Bruce, right? That’s one hell of an obligation to Queenslanders in particular. But I’ve got to say this, Minister, we are reluctant to believe either government, particularly this Labor Government at the moment, because it was this government that had turned its back on the Bruce and had switched the funding arrangement around. $7.2 billion sounds fantastic. I’ve got to say, on behalf of all Queensland, Minister, we just need to get on with it. We need this highway to be safe.

    CATHERINE KING: Absolutely. And that’s why, you know, the earliest possible opportunity we did, we’ve made the announcement at that $7.2 billion. Money will flow this year and every subsequent year.  We’ve said we’ll get it done in eight years. We’ve asked the Queensland Government to deliver that …

    PETER FEGAN: [Talks over] But it’s been 50.

    CATHERINE KING: … then obviously [indistinct].

    PETER FEGAN: 50 or 60 years, Minister. It’s 50 or 60 years and not one government can fix it.

    CATHERINE KING: Well, this Government has made the single biggest contribution to the Bruce Highway ever. And this is a Labor Government that has done that. And if you look back when we were last in office, prior to that, it was the then infrastructure minister, now Prime Minister, who then made the single biggest commitment to this.

    This is a Labor legacy, and we are absolutely committed to making the Bruce Highway safer. We’ve been in government obviously two and a half years. And I do want to make it really clear, no money has ever been cut from the Bruce Highway. What we have said is-

    PETER FEGAN: But the funding agreement- the funding- hang on, Minister, the funding agreement, that’s not true. The funding agreement was an 80/20 split…

    CATHERINE KING: [Talks over] That’s true…

    PETER FEGAN: … and you- but you changed that. So that’s funding cutting. Hang on, Minister, you changed that. It was an 80/20 split, but you say no funding has ever been cut. If you change- if you go from 80/20 to 50/50, that to me- I’m not a mathematician, but that’s a 30 per cent cut in funding.

    CATHERINE KING: So no, it isn’t. And so I want to make that really clear. I think there’s some confusion about that and been a bit of mischief about that. So first thing is not a single dollar has been cut from the Bruce Highway. In fact, the commitment that we’ve got, there’s $10 billion that has already been spent on the Bruce Highway. That has remained, and then we’ve put in an additional 7.2 billion. We’ve recognised on the Bruce Highway, in particular because of the safety concerns, 41 deaths just last year alone, that we will continue to fund that on an 80/20 basis.

    But what we did announce is that because the Commonwealth is now increasingly funding suburban roads, public transport and has stepped into the space of the state governments, largely, we’re now on other roads, particularly across the country, now requiring the state to also step up its commitment. We’re not dropping any of our funding. There’s still $125 billion worth of Commonwealth funding going to states and territories. We’re not dropping that. We’re just asking the states to step up with their contribution as well. So it’s not a cut to our funding. We’re asking the states to step in in the same way we’re stepping in on suburban roads now, but generally were 100 per cent of the state to fund.

    PETER FEGAN: It’s bang on quarter after eight. My guest this morning is the Federal Transport Minister, Catherine King. $200 million being announced today in funding for our roads here in Brisbane and in the South East. Minister, I’ve got to say this. It’s smart politics to ask the states to present you a case study because money is really, really tight, particularly on a federal level. So I like it. I think it’s good politics, and I think that that’s what the states should have to do. The reason I’m asking you about this, though, is because we need a really nice, new shiny stadium here in Queensland and particularly in Brisbane. We’ve got the Olympics coming. Now, if there was a case study put forward by David Crisafulli for a brand-new stadium, you’d be on board, wouldn’t you?

    CATHERINE KING: Well, the thing that we have put money towards, so there’s $3.5 billion capped from the Commonwealth going into the Olympics. We have said the Commonwealth’s contribution will go towards the Brisbane Arena. $2.5 billion is going towards that, we think, will leave a really significant legacy for an entertainment venue here in the heart of Brisbane – really necessary. We’ve also said we will 50/50 share the minor venues. Obviously, the Queensland Government is undertaking a review of those venues at the moment, but the Commonwealth has done- we’ve done the work, we’ve done the business case, the work is ready to go on the Brisbane Arena and that remains- you know, remains there on the table to build that arena for Brisbane. We think it’s needed and it will leave a great legacy for the community.

    PETER FEGAN: Let’s hope they’re listening, because it’s next month that we announce whether we’re going to get a new stadium or not. Before I let you go, Minister, what did you make of today’s announcements? I want to get your thoughts on this because your government has approved a deal between Virgin and Qatar Airways. Now, this is a deal that would see Qatar be able to invest in Virgin. It means there’s going to be more Qatar flights. It means we can spread our wings a little bit. Should hopefully cheapen flight prices here in Australia. But I’ve got to think back, if my memory serves me correctly, it was you that clipped Qatar’s wings in the first place.

    CATHERINE KING: So what we’ve had announced today is that the Treasurer has approved the Foreign Investment Review Board’s decision that Qatar Airways, the Qatari government, can invest in Virgin, and that obviously allows Virgin to do a number of things in terms of it going forward. Obviously, Bain Capital is wanting to withdraw and have Qatar now come in as the major investor. What it’s allowed us also to do is ensure that there are some Australians on the board of Virgin to make sure that we’ve got that in place and that they’re in fact opportunities to train Australian pilots, as again, Qatar has been granted through Virgin some wet leases to increase its flights, its international flights and create that competition. And I think that’s a good thing.

    PETER FEGAN: Before I let you go, we’ve got some breaking news. The election, 12 April. Is that right?

    CATHERINE KING: [Laughs] Very nice try there. What a sneaky way to do it, you cheeky thing.

    PETER FEGAN: [Laughs] I should have just – I shouldn’t have laughed.

    CATHERINE KING: You should have just- I know, I nearly believed you then. You just got me. I’ve got three brothers who do that to me all the time.

    PETER FEGAN: What would you have said, though?

    CATHERINE KING: I don’t know, I have absolutely no idea. [Indistinct] to the Prime Minister, but very cheeky. You nearly got me.

    PETER FEGAN: Good on you, Minister. We’ll chat again very soon.

    CATHERINE KING: Lovely to talk to you, Peter.

    PETER FEGAN: There she is. That’s the Federal Transport Minister, Catherine King.

    MIL OSI News –

  • MIL-OSI China: Hong Kong outlines plans to leverage strategic positioning, boost global connectivity

    Source: China State Council Information Office 2

    The Hong Kong Special Administrative Region (HKSAR) will continue to leverage its strategic positioning as the “three centers and a hub” and make good use of the advantages of “one country, two systems,” the financial secretary of the HKSAR government said on Wednesday.
    While delivering the 2025-26 budget at the HKSAR’s Legislative Council, Paul Chan said it is imperative to do so, outlining a range of plans to inject new impetus into Hong Kong’s economy, consolidating and strengthening industries with clear advantages while actively nurturing and developing new industries.
    To reinforce Hong Kong’s status as an international financial center, Chan said the HKSAR government will introduce a series of measures across various fields, including the securities and derivatives market, fixed income and currency hub, as well as asset and wealth management center.
    The Hong Kong Exchanges and Clearing Limited will put forward recommendations to enhance the issuance mechanism of structured products with a view to providing greater flexibility for product listing and trading, he said.
    The Hong Kong Monetary Authority is preparing to issue the third tranche of tokenized bonds, and will continue to encourage digital bonds issuances through the Digital Bond Grant Scheme, while actively exploring tokenizing traditional bonds issued, Chan said.
    To promote the connection of e-payment between the Chinese mainland and Hong Kong, the People’s Bank of China and the Hong Kong Monetary Authority are working closely to implement the linkage of faster payment systems of both places, with a view to providing round-the-clock real-time, small-value cross-boundary remittance service for residents in both places, said Chan, adding that the service is expected to be launched in mid-2025 at the soonest.
    To promote the construction of Hong Kong as an international trade center, Chan said that the Hong Kong Export Credit Insurance Corporation will provide credit insurance for export services relating to multinational supply chain to render more comprehensive support to enterprises seeking to go global.
    Hong Kong will continue to leverage its role as a functional platform for the Belt and Road Initiative (BRI), Chan said, adding that Hong Kong will continue to further cultivate the ASEAN and Middle East markets, and explore opportunities in Central Asia, South Asia and North Africa.
    Chan reaffirmed that the HKSAR government will establish the Hong Kong Maritime and Port Development Board this year to strengthen relevant research, promotion and manpower training to facilitate the sustainable development of the international maritime center.
    In addition, Hong Kong will help the home-developed C919 aircraft enter the global market, Chan said, noting that the Hong Kong International Aviation Academy will expand its training programs in this regard.
    To foster a talent hub, Chan said the HKSAR government will enhance the Admission Scheme for Mainland Talents and Professionals and the General Employment Policy by allowing young non-degree talents with professional and technical qualifications and experience to come to Hong Kong to join skilled trades facing manpower shortage.
    The HKSAR government will continue to attract more students, especially those from ASEAN and other countries under the BRI cooperation framework, to study in Hong Kong through various measures, including the Belt and Road Scholarship, he said. 

    MIL OSI China News –

  • MIL-OSI Banking: St. Kitts and Nevis: Staff Concluding Statement of the 2025 Article IV Mission

    Source: International Monetary Fund

    February 26, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Recent Developments and Outlook

    Growth is expected to pick up to 2 percent in 2025—from 1.5 percent in 2024—supported by tourism, with inflation remaining around 2 percent. In the medium term, growth is projected at 2.5 percent, and inflation is expected to remain stable. Progress has been made in the transition to renewable energy, as the geothermal project is nearing the drilling phase with funding secured.

    The current account deficit (CAD) further widened to 15 percent of GDP in 2024, from 12 percent in 2023. The CAD remains significantly larger than pre-pandemic levels, reflecting a decline in CBI inflows and widening fiscal deficits. It is expected to remain around 12 percent of GDP in the medium term. The external position in 2024 is assessed as weaker than implied by medium-term fundamentals and desirable policies.

    Staff projects fiscal deficits to remain large with public debt rising. The fiscal deficit in 2024 is estimated at 11 percent of GDP, driven by a sharp reduction in CBI revenue. Recent reforms to the program, reinforced by international agreements, suggest that CBI revenue will likely be structurally lower but more sustainable going forward. Hence, the fiscal deficit is projected to be 9 percent of GDP this year, also impacted by the increase in the wage bill and the temporary VAT reduction. Public debt is expected to rise to 61 percent of GDP in 2025. The overall risk of sovereign debt stress continues to be assessed as moderate. In the medium term, fiscal deficits are expected to decrease modestly due to the authorities’ efforts to control expenditures, while debt is projected to reach 68 percent of GDP in 2030.

    Bank credit growth accelerated while vulnerabilities remain. Bank credit grew rapidly at 11 percent (y/y) (particularly in mortgages and consumer loans) amid high non-performing loans (NPLs) and low buffers, while competition among banks increased. Overall, bank NPLs declined, profits rose, and capital somewhat improved. Meanwhile, lending by credit unions expanded swiftly by 12 percent (y/y), while their delinquency ratio increased to 10 percent.

    Near-term risks are tilted to the downside, but the potential for renewable energy provides upsides over the medium term. Substantial changes in CBI revenue constitute an important two-sided risk but a further decline in CBI revenue would pressure fiscal accounts. Downside risks include a slowdown in key source markets for tourism, commodity price volatility, as well as global financial instability impacting domestic banks. The country is also highly exposed to natural disasters (ND). On the other hand, the renewable energy projects could create an additional source of growth and fiscal revenue.

    Economic Policies

    Fiscal Policy

    The staff believes that the main priority is to implement a prompt and steady fiscal consolidation to keep public debt below the regional ceiling of 60 percent of GDP. While the authorities made efforts to contain the fiscal deficit in 2024, more active policies are necessary going forward. Fiscal consolidation will help create space to protect capital expenditure, strengthen resilience against NDs, and hedge against contingent liabilities.

    Under staff’s active policies scenario, the adjusted primary balance (excluding CBI and transfers to public banks) should be tightened by 2 percentage points of GDP by 2029 relative to the baseline. To this end, fiscal consolidation should be anchored by a set of fiscal rules and driven by tax reforms and reductions in current expenditures while protecting capital expenditure. The combined net impact of fiscal consolidation and structural reforms on growth and the external position is assessed to be positive in the medium term. In particular:

    • Statutory fiscal rules should include an adjusted primary balance floor and a primary current expenditure ceiling, as well as the regional debt ceiling—with escape clauses related to NDs. This would enhance the credibility of the fiscal path and help contain borrowing costs.
    • Tax reforms would boost tax revenue by 2.5 percentage points of GDP and are well within reach. The reforms would also help reduce reliance on the CBI and improve equity and growth. Recommended measures include harmonizing the VAT, supplemented by improved targeted social support; increasing excise rates on alcoholic beverages, tobacco, and fossil fuels; and updating property tax assessments. The Housing and Social Development Levy could become more progressive, and non-labor income, such as investment and rental income, could be taxed to improve equity. The temporary reduction in VAT for the first half of 2025, as well as other pandemic-era tax breaks, should be phased out. Negotiated tax concession packages for corporate income tax—which unfairly benefit profitable large international hospitality companies—should be lapsed, especially in light of the upcoming OECD Pillar II. The authorities’ efforts to improve tax collections, including property taxes and CIT, and to enhance tax administration are welcome, and should be further strengthened.
    • Current expenditure. The authorities’ efforts to streamline current expenditure are welcome and should go further to bring them closer to pre-pandemic levels. Limiting public wage increases and employment—the largest in the ECCU—would help foster private sector job creation. Transfers, including social spending, should be better targeted and more effective.
    • Accompanying structural reforms aimed at enhancing productivity, labor quality, and access to finance could generate significant growth gains.

    The planned establishment of a Sovereign Wealth Fund (SWF) is welcome. The SWF should absorb any upside in the projected CBI revenue, reduce the impact of volatile and uncertain CBI revenue on the budget, and help create fiscal buffers against NDs.

    Progress has been made in improving the CBI framework, but its transparency needs to be enhanced. The government has taken important steps to improve the governance of the program and strengthen the due diligence and application processes. To further improve transparency and accountability, comprehensive annual reports following external audits should be published regularly, including statistics on applications and financial accounts.

    The authorities’ efforts to publish the medium-term debt management strategy (MTDMS) are welcome. Heavy reliance on short-term borrowing—entailing large gross financing needs and additional fiscal risks—should continue to be reduced. The MTDMS—now under government review—should aim to lengthen debt maturity, reduce costs, and diversify the sources of funds. The authorities’ plan to resume the publication of the MTDMS—not published since 2018—is welcome. The government has recently reached three loan agreements with favorable terms with international partners. Additionally, the government could consider increasing engagement with multilateral development partners for concessional borrowing and tapping into the Regional Government Securities Market.

    The staff supports the authorities’ intention to reform the Social Security Fund (SSF). The authorities announced their intention to reform the SSF and have initiated extensive consultations with stakeholders. The proposed options are welcome and concrete measures should be identified. Furthermore, a more comprehensive approach is needed to ensure the fiscal sustainability of the SSF, including improvements in asset management.

    Financial Sector Policy

    Progress to strengthen the systemic bank and safeguard public deposits should continue. The bank has made progress toward reducing NPLs, restoring profitability of its lending business, and further de-risking its foreign investment portfolio. These efforts should continue. The government—as its majority shareholder—and the bank are encouraged to engage with external advisors to revitalize its business model. The planned establishment of the SWF presents an opportunity to transfer public sectors deposits and associated foreign investments from the bank to the SWF, except for the portion necessary for the government’s cash management.

    The Development Bank needs to be reformed. The bank is facing significant challenges due to high NPLs and weak profits. Although the bank does not take deposits, it has borrowed from the public and the banking sector and poses a contingent liability to the government. The government and the new management are actively working to address the bank’s accountability and financial performance. The external audit—not conducted since 2018—is ongoing to fully assess the bank’s financial condition and is expected to conclude in the coming months. The priority is to thoroughly analyze the bank’s financial situation, including its NPLs and loss-making loan programs, reassess its financial and social functions—potentially achievable through private lending and targeted social support—and chart the optimal path forward, firmly based on the bank’s viability and fiscal prudence. The legal framework around the bank should be revised to significantly strengthen its regulation and supervision.

    Financial soundness should be strengthened at private banks and credit unions. Banks should continue their efforts to reduce NPLs and to meet the prudential requirements for provisions and capital, based on their plans submitted to the ECCB. Banks’ efforts to improve financial education of their potential clients are welcome and should be potentially joined with public resources. This is especially important amid the rapid credit growth and the regional credit bureau becoming more operational. In addition, the regulation and oversight of credit unions by the Financial Services Regulatory Commission has room for improvement, particularly in the areas of lending standards, provisioning requirements, and supervisory actions. Efforts to enhance the effectiveness of the AML/CFT framework should continue.

    Structural Policy

    The medium-term growth prospects can be improved. Staff analysis indicates that potential growth has steadily declined from around 6 percent in the 1980s to 2.5 percent, mainly driven by slow productivity growth and a lower contribution from human capital. Staff assess that growth potential can be enhanced through structural reforms aimed at better resource allocation, particularly in the following areas.

    • The efficiency of government services can be enhanced. In this regard, recent progress with digitalization, streamlining tax administration, and implementing a single electronic window is welcome.
    • Credit access should be improved, especially for firms. All banks and credit unions are encouraged to participate in the recently created regional credit bureau to make it effective. While foreclosure processes appear to work efficiently, bankruptcy and insolvency regimes can be enhanced to incentivize out-of-court debt workouts, given the lengthy in-court processes.
    • Labor skills should be better aligned with private and public sector demands. Upskilling is essential for maintaining labor market competitiveness, especially with the recent two-tier increases in minimum wage in 2024 and July 2025, which position the minimum wage well above that of ECCU peers. There are shortages of qualified workers in both the private (tourism) and public (healthcare) sectors. Recent efforts aimed at improving access to education and vocational training can help, especially benefiting the unemployed, and these initiatives should be tailored to meet market demands.
    • Accelerating the energy transition is crucial to increasing competitiveness and growth resilience. The energy transition is expected to enhance energy security, reduce energy costs, and support economic diversification. It is essential to build strong expertise in project management. The investment, ownership, and taxation agreements related to large energy projects should be crafted carefully, considering their long-term economic and fiscal implications.

    To strengthen ND preparedness, the public investment framework and the multi-layered insurance framework should be further enhanced.

    • ND-resilient Infrastructure. Upgrading the power grid—as part of the geothermal project—will enhance resilience to NDs, support energy sustainability by introducing a one-grid that connects the two islands and facilitate the energy transition. Given the country’s challenges with water supply, the authorities’ plan for a renewable energy-powered desalination plant is a significant development.
    • Investment framework. Integrating a pipeline of projects funded by the overall public sector, including statutory bodies, into the Public Sector Investment Program (PSIP)) will help improve medium-term fiscal planning, anchor ND-resilient investment plans, and help unlock concessional financing. Strengthening capital expenditure forecasts would be important for the medium-term fiscal framework. Project execution should be improved considerably. In this regard, the authorities’ plan to formulate a medium-term PSIP strategy will provide a useful framework for comprehensive oversight of public investment and enable project progress tracking.
    • An enhanced multi-layered insurance framework. Staff analysis indicates additional fiscal buffers are essential to enhance an insurance framework against NDs, and government deposits should be preserved at their current level as the first self-insurance layer. This could be further supplemented by (i) expanding coverage through the Caribbean Catastrophe Risk Insurance Facility and (ii) issuing a state-contingent instrument, such as catastrophe bonds or lines of credit.

    The mission would like to thank the St. Kitts and Nevis authorities and all other counterparts for the constructive and candid policy dialogue and productive collaboration.

     

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Reah Sy

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Global Banks –

  • MIL-OSI Russia: St. Kitts and Nevis: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    February 26, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Recent Developments and Outlook

    Growth is expected to pick up to 2 percent in 2025—from 1.5 percent in 2024—supported by tourism, with inflation remaining around 2 percent. In the medium term, growth is projected at 2.5 percent, and inflation is expected to remain stable. Progress has been made in the transition to renewable energy, as the geothermal project is nearing the drilling phase with funding secured.

    The current account deficit (CAD) further widened to 15 percent of GDP in 2024, from 12 percent in 2023. The CAD remains significantly larger than pre-pandemic levels, reflecting a decline in CBI inflows and widening fiscal deficits. It is expected to remain around 12 percent of GDP in the medium term. The external position in 2024 is assessed as weaker than implied by medium-term fundamentals and desirable policies.

    Staff projects fiscal deficits to remain large with public debt rising. The fiscal deficit in 2024 is estimated at 11 percent of GDP, driven by a sharp reduction in CBI revenue. Recent reforms to the program, reinforced by international agreements, suggest that CBI revenue will likely be structurally lower but more sustainable going forward. Hence, the fiscal deficit is projected to be 9 percent of GDP this year, also impacted by the increase in the wage bill and the temporary VAT reduction. Public debt is expected to rise to 61 percent of GDP in 2025. The overall risk of sovereign debt stress continues to be assessed as moderate. In the medium term, fiscal deficits are expected to decrease modestly due to the authorities’ efforts to control expenditures, while debt is projected to reach 68 percent of GDP in 2030.

    Bank credit growth accelerated while vulnerabilities remain. Bank credit grew rapidly at 11 percent (y/y) (particularly in mortgages and consumer loans) amid high non-performing loans (NPLs) and low buffers, while competition among banks increased. Overall, bank NPLs declined, profits rose, and capital somewhat improved. Meanwhile, lending by credit unions expanded swiftly by 12 percent (y/y), while their delinquency ratio increased to 10 percent.

    Near-term risks are tilted to the downside, but the potential for renewable energy provides upsides over the medium term. Substantial changes in CBI revenue constitute an important two-sided risk but a further decline in CBI revenue would pressure fiscal accounts. Downside risks include a slowdown in key source markets for tourism, commodity price volatility, as well as global financial instability impacting domestic banks. The country is also highly exposed to natural disasters (ND). On the other hand, the renewable energy projects could create an additional source of growth and fiscal revenue.

    Economic Policies

    Fiscal Policy

    The staff believes that the main priority is to implement a prompt and steady fiscal consolidation to keep public debt below the regional ceiling of 60 percent of GDP. While the authorities made efforts to contain the fiscal deficit in 2024, more active policies are necessary going forward. Fiscal consolidation will help create space to protect capital expenditure, strengthen resilience against NDs, and hedge against contingent liabilities.

    Under staff’s active policies scenario, the adjusted primary balance (excluding CBI and transfers to public banks) should be tightened by 2 percentage points of GDP by 2029 relative to the baseline. To this end, fiscal consolidation should be anchored by a set of fiscal rules and driven by tax reforms and reductions in current expenditures while protecting capital expenditure. The combined net impact of fiscal consolidation and structural reforms on growth and the external position is assessed to be positive in the medium term. In particular:

    • Statutory fiscal rules should include an adjusted primary balance floor and a primary current expenditure ceiling, as well as the regional debt ceiling—with escape clauses related to NDs. This would enhance the credibility of the fiscal path and help contain borrowing costs.
    • Tax reforms would boost tax revenue by 2.5 percentage points of GDP and are well within reach. The reforms would also help reduce reliance on the CBI and improve equity and growth. Recommended measures include harmonizing the VAT, supplemented by improved targeted social support; increasing excise rates on alcoholic beverages, tobacco, and fossil fuels; and updating property tax assessments. The Housing and Social Development Levy could become more progressive, and non-labor income, such as investment and rental income, could be taxed to improve equity. The temporary reduction in VAT for the first half of 2025, as well as other pandemic-era tax breaks, should be phased out. Negotiated tax concession packages for corporate income tax—which unfairly benefit profitable large international hospitality companies—should be lapsed, especially in light of the upcoming OECD Pillar II. The authorities’ efforts to improve tax collections, including property taxes and CIT, and to enhance tax administration are welcome, and should be further strengthened.
    • Current expenditure. The authorities’ efforts to streamline current expenditure are welcome and should go further to bring them closer to pre-pandemic levels. Limiting public wage increases and employment—the largest in the ECCU—would help foster private sector job creation. Transfers, including social spending, should be better targeted and more effective.
    • Accompanying structural reforms aimed at enhancing productivity, labor quality, and access to finance could generate significant growth gains.

    The planned establishment of a Sovereign Wealth Fund (SWF) is welcome. The SWF should absorb any upside in the projected CBI revenue, reduce the impact of volatile and uncertain CBI revenue on the budget, and help create fiscal buffers against NDs.

    Progress has been made in improving the CBI framework, but its transparency needs to be enhanced. The government has taken important steps to improve the governance of the program and strengthen the due diligence and application processes. To further improve transparency and accountability, comprehensive annual reports following external audits should be published regularly, including statistics on applications and financial accounts.

    The authorities’ efforts to publish the medium-term debt management strategy (MTDMS) are welcome. Heavy reliance on short-term borrowing—entailing large gross financing needs and additional fiscal risks—should continue to be reduced. The MTDMS—now under government review—should aim to lengthen debt maturity, reduce costs, and diversify the sources of funds. The authorities’ plan to resume the publication of the MTDMS—not published since 2018—is welcome. The government has recently reached three loan agreements with favorable terms with international partners. Additionally, the government could consider increasing engagement with multilateral development partners for concessional borrowing and tapping into the Regional Government Securities Market.

    The staff supports the authorities’ intention to reform the Social Security Fund (SSF). The authorities announced their intention to reform the SSF and have initiated extensive consultations with stakeholders. The proposed options are welcome and concrete measures should be identified. Furthermore, a more comprehensive approach is needed to ensure the fiscal sustainability of the SSF, including improvements in asset management.

    Financial Sector Policy

    Progress to strengthen the systemic bank and safeguard public deposits should continue. The bank has made progress toward reducing NPLs, restoring profitability of its lending business, and further de-risking its foreign investment portfolio. These efforts should continue. The government—as its majority shareholder—and the bank are encouraged to engage with external advisors to revitalize its business model. The planned establishment of the SWF presents an opportunity to transfer public sectors deposits and associated foreign investments from the bank to the SWF, except for the portion necessary for the government’s cash management.

    The Development Bank needs to be reformed. The bank is facing significant challenges due to high NPLs and weak profits. Although the bank does not take deposits, it has borrowed from the public and the banking sector and poses a contingent liability to the government. The government and the new management are actively working to address the bank’s accountability and financial performance. The external audit—not conducted since 2018—is ongoing to fully assess the bank’s financial condition and is expected to conclude in the coming months. The priority is to thoroughly analyze the bank’s financial situation, including its NPLs and loss-making loan programs, reassess its financial and social functions—potentially achievable through private lending and targeted social support—and chart the optimal path forward, firmly based on the bank’s viability and fiscal prudence. The legal framework around the bank should be revised to significantly strengthen its regulation and supervision.

    Financial soundness should be strengthened at private banks and credit unions. Banks should continue their efforts to reduce NPLs and to meet the prudential requirements for provisions and capital, based on their plans submitted to the ECCB. Banks’ efforts to improve financial education of their potential clients are welcome and should be potentially joined with public resources. This is especially important amid the rapid credit growth and the regional credit bureau becoming more operational. In addition, the regulation and oversight of credit unions by the Financial Services Regulatory Commission has room for improvement, particularly in the areas of lending standards, provisioning requirements, and supervisory actions. Efforts to enhance the effectiveness of the AML/CFT framework should continue.

    Structural Policy

    The medium-term growth prospects can be improved. Staff analysis indicates that potential growth has steadily declined from around 6 percent in the 1980s to 2.5 percent, mainly driven by slow productivity growth and a lower contribution from human capital. Staff assess that growth potential can be enhanced through structural reforms aimed at better resource allocation, particularly in the following areas.

    • The efficiency of government services can be enhanced. In this regard, recent progress with digitalization, streamlining tax administration, and implementing a single electronic window is welcome.
    • Credit access should be improved, especially for firms. All banks and credit unions are encouraged to participate in the recently created regional credit bureau to make it effective. While foreclosure processes appear to work efficiently, bankruptcy and insolvency regimes can be enhanced to incentivize out-of-court debt workouts, given the lengthy in-court processes.
    • Labor skills should be better aligned with private and public sector demands. Upskilling is essential for maintaining labor market competitiveness, especially with the recent two-tier increases in minimum wage in 2024 and July 2025, which position the minimum wage well above that of ECCU peers. There are shortages of qualified workers in both the private (tourism) and public (healthcare) sectors. Recent efforts aimed at improving access to education and vocational training can help, especially benefiting the unemployed, and these initiatives should be tailored to meet market demands.
    • Accelerating the energy transition is crucial to increasing competitiveness and growth resilience. The energy transition is expected to enhance energy security, reduce energy costs, and support economic diversification. It is essential to build strong expertise in project management. The investment, ownership, and taxation agreements related to large energy projects should be crafted carefully, considering their long-term economic and fiscal implications.

    To strengthen ND preparedness, the public investment framework and the multi-layered insurance framework should be further enhanced.

    • ND-resilient Infrastructure. Upgrading the power grid—as part of the geothermal project—will enhance resilience to NDs, support energy sustainability by introducing a one-grid that connects the two islands and facilitate the energy transition. Given the country’s challenges with water supply, the authorities’ plan for a renewable energy-powered desalination plant is a significant development.
    • Investment framework. Integrating a pipeline of projects funded by the overall public sector, including statutory bodies, into the Public Sector Investment Program (PSIP)) will help improve medium-term fiscal planning, anchor ND-resilient investment plans, and help unlock concessional financing. Strengthening capital expenditure forecasts would be important for the medium-term fiscal framework. Project execution should be improved considerably. In this regard, the authorities’ plan to formulate a medium-term PSIP strategy will provide a useful framework for comprehensive oversight of public investment and enable project progress tracking.
    • An enhanced multi-layered insurance framework. Staff analysis indicates additional fiscal buffers are essential to enhance an insurance framework against NDs, and government deposits should be preserved at their current level as the first self-insurance layer. This could be further supplemented by (i) expanding coverage through the Caribbean Catastrophe Risk Insurance Facility and (ii) issuing a state-contingent instrument, such as catastrophe bonds or lines of credit.

    The mission would like to thank the St. Kitts and Nevis authorities and all other counterparts for the constructive and candid policy dialogue and productive collaboration.

     

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Reah Sy

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/02/27/st-kitts-and-nevis-cs-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Minim Martap Project Update

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, Feb. 26, 2025 (GLOBE NEWSWIRE) — Canyon Resources Limited (ASX: CAY) (‘Canyon’ or the ‘Company’) is pleased to provide an update on key development workstreams at the Company’s flagship Minim Martap Bauxite Project (‘Minim Martap’ or ‘the Project’), located in Cameroon, as the Company continues to make rapid progress toward production.

    Minim Martap ranks among the world’s richest bauxite deposits, underpinned by an Ore Reserve of 109Mt at 51.1% total Al2O3 and 2.0% total SiO2 and a JORC Mineral Resource Estimate of 1,027Mt at 45.3% total Al2O3 and 2.7% total SiO2

    The Definitive Feasibility Study (DFS) remains on schedule for completion in Q3 2025, with a focus on optimising operational efficiencies, ensuring sustainable economics and confirming the preferred pathway to production. The Company remains confident that the DFS will reinforce the viability of Minim Martap as a world-class bauxite project. Concurrently, discussions with select debt providers are progressing positively, as Canyon seeks to secure an optimal funding structure in alignment with strategic objectives and results from the DFS.

    As part of the DFS, Canyon is currently evaluating the implementation of a two-stage development strategy, aimed at accelerating production through a phased ramp-up to enable a first bauxite shipment in 2026. This approach would enable earlier revenue generation, strengthen supply chain relationships and strategically position Minim Martap for future growth as rail capacity expands. In addition to this process, Canyon has engaged several internationally recognised consultants to refine and optimise the existing rail infrastructure required for the transport of the bauxite ore. Detailed assessments are now underway to enhance logistical efficiency and explore capacity expansion strategies that will support long-term operational growth.

    As part of project execution planning, Canyon is working with leading mining equipment vendors to define procurement schedules and delivery timelines, ensuring timely access to critical mining equipment, which will be essential for meeting targeted production timelines and targets and maintaining operational efficiency. The Company remains focused on aligning equipment availability with its potential staged development strategy to support seamless project execution.

    Discussions with potential offtake partners are advancing well, with negotiations reflecting strong market interest in Minim Martap’s high-quality bauxite product and supporting the Company’s efforts to secure long-term sales agreements. Establishing these strategic partnerships is a key step in de-risking the Project, working through the relevant financing discussions and ensuring an efficient pathway towards commencement of operations.

    Bauxite market fundamentals and pricing has strengthened over the past 12 months, with the CIF China price for 45% Al203 and 3% total SiO2 ex Guinea reported to be approximately $US 100/DMT in February 2025. The product from Minim Martap with a proved or reserve grade 51.1% total Al203 and total SiO2 should achieve a considerable premium price compared to a 45% Al2O3 and SiO2 bauxite product.

    Lastly, Canyon continues to focus on building out its project team and management team to ensure the Company is well-positioned during the next phase of development growth, as Canyon works toward becoming a near-term bauxite producer.

    Mr Jean-Sebastien Boutet, Canyon Chief Executive Officer commented: “Progress at our world-class Minim Martap Project continues as planned, reinforcing our confidence in our timeline towards production. Notably, the analysis of a potential two-staged development strategy has been particularly promising, offering the opportunity for fast-tracked production and revenue generation, while strategically positioning the Company to capitalise on expanding rail capacity and the establishment of key supply chain relationships.

    “Our team remains committed to transforming the Minim Martap Bauxite Project into a world-class operation that delivers sustainable, long-term value for shareholders and stakeholders alike. We will continue to provide timely updates as we achieve key milestones and advance toward production.”

    This announcement has been approved for release by the Canyon Resources’ Board of Directors.

                                                            
                                                    
                                                    
                                            
                  
                                  

    The MIL Network –

  • MIL-OSI: Banco Itaú Chile Files Material Event Notice Summoning to Annual Shareholders’ Meeting

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Feb. 26, 2025 (GLOBE NEWSWIRE) — BANCO ITAÚ CHILE (SSE: ITAUCL) (the “Bank”) today announced that it filed a Material Event Notice with the Chilean Commission for the Financial Market reporting that the Bank scheduled its Annual Shareholders’ Meeting for April 24, 2025.

    The full Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

    Investor Relations – Banco Itaú Chile

    IR@itau.cl / ir.itau.cl

    The MIL Network –

  • MIL-OSI USA: Grassley, Baldwin Introduce Legislation to Crack Down on Foreign Investment in Farmland, Protect Rural Communities

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    Foreign ownership of American farmland has increased 85 percent since 2010
    WASHINGTON – Sens. Chuck Grassley (R-Iowa) and Tammy Baldwin (D-Wis.) introduced the Farmland Security Act of 2025 to build on their work to safeguard rural communities and protect American farmland from shady foreign investments.
    The bipartisan legislation builds on a Grassley-Baldwin law to ensure that all foreign investors, including “shell companies,” who buy American agricultural land report their holdings. It additionally strengthens penalties for those who evade filing and invests in research to better understand the impact foreign ownership of farmland has on agricultural production capacity.
    “Foreign purchases of American farmland needlessly increase competition for young and beginning farmers and potentially threaten our national security. Family farmers and ranchers have a justified cause for concern. Our commonsense legislation provides the resources needed to monitor these sales and protect against risks they may pose. It also increases penalties for violators, especially shell corporations, who fail to report or misreport their acreage. I’ll never stop fighting to support family farmers and protect our farmland,” Grassley said.
    “America’s farmland is critical to the health of our rural communities and our national security. But when foreign investors own farmland or our ability to process food, it can put our national security, domestic food supply, and local communities at risk. Our bipartisan legislation will help bring to light foreign investments in rural America, so we know who is buying up land critical to all of our safety and the future of our agricultural communities,” Baldwin said.
    Background:
    According to the Department of Agriculture (USDA), approximately 45 million acres of American agricultural land is under foreign ownership – and  85 percent increase since 2010. These investments have the potential to impact America’s food security and national security.
    As a then-member of the House of Representatives, Grassley helped author the first reporting requirements to ever address foreign ownership of farmland – the 1978 Agricultural Foreign Investment Disclosure Act also directed the USDA Secretary to analyze the information and determine the effects of foreign transactions and holdings on family farms and rural communities.
    The Grassley-Baldwin Farmland Security Act of 2022, which was signed into law as part of funding legislation for 2023, imposed requirements for USDA to create digital filings tracking foreign purchases of domestic agricultural land and establish a publicly accessible database of certain disaggregated foreign ownership data for research purposes. It also requires USDA to report to Congress on the impact these investments have on family farms, rural communities and the domestic food supply.
    The Farmland Security Act of 2025 takes additional steps to support transparency and better understand the scale and impact of foreign ownership by:
    Requiring research into trends of foreign-owned “shell corporations” purchasing American agricultural land;
    Requiring research into foreign ownership of agricultural production capacity and foreign participation in agricultural economic activity in the United States;
    Requiring USDA to conduct annual compliance audits of no less than ten percent of the reports to ensure completeness and accuracy of filings;
    Amending reports to Congress to require research into foreign entities’ agricultural leasing activities and the impact it has on rural communities, family farms and the domestic food supply;
    Requiring USDA to provide annual training to state and county-level staff on the identification of non-reporting foreign-owned agricultural land;
    Striking the cap on fee of 25% of the agricultural lands valuation for failing to report or misreporting foreign-owned acreage;
    Requiring a fee of 100% of the agricultural land’s valuation for shell corporations that are failing to report or misreporting foreign-owned acreage, except in cases where the shell corporation remedies non-filing or defective filing within 60 days of notice by the Secretary; and
    Authorizing $2 million annually for the activities prescribed under the Agriculture Foreign Investment Disclosure Act, as amended.
    Companion legislation was introduced in the House of Representatives by Reps. John Moolenaar (R-Mich.) and Marie Gluesenkamp Perez (D-Wash.).
    Full bill text is HERE. A one-pager on the legislation is available HERE.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Duckworth, Durbin Join Pritzker and Illinois Congressional Delegation in Pressing White House on Withholding $1.8 Billion from Taxpayers

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    February 26, 2025

    [WASHINGTON, DC] – Today, U.S. Senators Tammy Duckworth (D-IL) and Dick Durbin (D-IL) joined Illinois Governor JB Pritzker and members of the Illinois congressional delegation in issuing a joint letter to White House Office of Management and Budget (OMB) Director Russell Vought demanding action and accountability from OMB on the approximately $1.88 billion in funding that is illegally being withheld from Illinois taxpayers despite the funding being appropriated by Congress and numerous court orders.

    “On behalf of our constituents, we are seeking full transparency and accountability on any and all funding that has been paused or interrupted. If the Trump Administration is unable to follow the law and uphold their end of the deal, the people of our state deserve to know,” wrote the lawmakers in a letter to OMB Director Vought.

    The letter provides an update that as of mid-February many agencies and organizations in Illinois have reported an inability to access funds, with some in danger of needing to pause operations, cancel projects, or lay off staff. Impacted grant programs and organizations include, but are not limited to:

    • Nine state agencies, boards and commissions have a total of $692 million in federal funds obligated but not yet received and they are unable to access those funds.
    • 10 state agencies, boards and commissions have a total of $1.19 billion in federal funds anticipated/awarded but not yet obligated and the grants/programs are essentially paused.
    • 14 state agencies, boards and commissions have a total of $1.88 billion in impacted federal funds, including the Illinois Department of Agriculture, Illinois Department of Commerce and Economic Opportunity, Illinois Community College Board, Illinois Emergency Management Agency, Illinois Environmental Protection Agency, Illinois Finance Authority, the Illinois Department of Human Rights, Illinois Department of Natural Resources, Illinois Power Agency, Illinois Department of Transportation, Illinois State Board of Education, Illinois Commerce Commission, Illinois Department of Labor and Illinois Department of Healthcare and Family Services.

    A copy of the full letter is available on the Senator’s website and below:

    Dear Director Vought:

    As we write this letter, the federal government continues to withhold $1.88 billion from Illinois. These are federal funds that were passed by Congress, signed into law, and promised to Illinois. State agencies, small businesses, nonprofit organizations, and everyday citizens across Illinois— including in rural communities—are still having trouble accessing allocated federal funding. We have an obligation to Illinois taxpayers and residents to demand answers about the future of this funding, including when the Trump Administration will follow the law and make good on the federal government’s promise to deliver hard-earned taxpayer dollars back into Illinois’ economy, workforce, and communities.

    The evening of January 27th, our offices read in the news that the White House Office of Management and Budget (OMB) had released a memorandum directing Federal agencies to “temporarily pause all activities related to obligation or disbursement of all federal financial assistance.” Throughout the following day, we received widespread reports of system outages and lockouts that prevented grantees from accessing entitled funding. Attempted communications with government liaisons were often ignored and public statements from the White House were inconsistent with the experiences of our grantees.

    Since then, despite OMB’s rescission of the memo, we have continued to receive reports from agencies and organizations detailing their inability to access funds. This uncertainty over receiving future, assured funds, along with little clarity provided by the Administration, has forced many to pause operations, cancel projects, or cut staff.

    We are seeking clarity on your actions, as well as assurances that you will legally uphold your financial commitments to the State of Illinois. These funds have been contractually agreed to, allocated, and planned around by their recipients—which include childcare providers, educational institutions, small businesses, community and economic development organizations, and more. Needless to say, the restriction of these funds will have a detrimental impact on vulnerable people, local economies, and the state as a whole.

    As of February 24, 2025, impacted grants programs and organizations include, but are not limited to:

    • Nine state agencies, boards, and commissions have a total of $692 million in federal funds obligated but not yet received, and they are unable to access those funds.
    • 10 state agencies, boards, and commissions have a total of $1.19 billion in federal funds anticipated/awarded but not yet obligated, and the grants/programs are essentially paused.
    • In total, this constitutes $1.88 billion in impacted federal funds across 14 state agencies, boards, and commissions in Illinois, including the Illinois Department of Commerce and Economic Opportunity, Illinois Community College Board, Illinois Emergency Management Agency, Illinois Environmental Protection Agency, Illinois Finance Authority, the Illinois Department of Human Rights, Illinois Department of Natural Resources, Illinois Power Agency, Illinois Department of Transportation, Illinois State Board of Education, Illinois Commerce Commission, Illinois Council on Developmental Disabilities, Illinois Department of Labor, and Illinois Department of Healthcare and Family Services.

    These frozen funds impact programs that provide technical assistance for small businesses, provide affordable solar energy for low-income residents, improve roads and bridges, and more.

    On behalf of our constituents, we are seeking full transparency and accountability on any and all funding that has been paused or interrupted. If the Trump Administration is unable to follow the law and uphold their end of the deal, the people of our state deserve to know.

    Pursuant to that, we ask that you answer the following questions by March 4, 2025:

    1. Please identify any forms of federal financial assistance for which federal funding disbursements did not promptly resume following the recission of OMB Memorandum M-25-13.
    2. For all forms of federal financial assistance that did not promptly resume, please describe the steps you have taken or will take to resume the disbursement of funds in compliance with court orders. Also indicate when the disbursement of funds can be expected to resume.
    3. For any disbursement of funds that have not been promptly resumed, and following two federal judges issuing temporary restraining orders regarding the funding freeze, what is your legal basis for continuing to withhold funds?
    4. What steps have you taken to identify and communicate with grant recipients who have been negatively affected by this oversight?
    5. What steps will you take to ensure that this issue does not occur again?

    We appreciate your timely attention to this matter.

    Sincerely,

    -30-

    MIL OSI USA News –

  • MIL-OSI New Zealand: BusinessNZ – Business backs a four year term

    Source: BusinessNZ

    BusinessNZ says there is support from the private sector for a longer political term in New Zealand, as the Government looks to introduce legislation extending it to four years.
    Chief Executive Katherine Rich says extending the term is an important step towards improving the New Zealand’s governance and encouraging longer-term plans to fix major economic problems.
    “A four-year term is not a new idea, it’s been discussed each decade by both National and Labour since at least the 1960s and put to the public twice by referendum.
    “Most countries operate with four or five-year electoral terms. New Zealand’s three-year electoral term is one reason for the policy pendulum swings which contribute to a failure by successive governments to execute long term solutions.
    “The reality is three years is too short to govern successfully – particularly when we are facing complex economic problems or long-term trends like the costs and impacts of our aging population, which may require tough political decisions to solve.
    “BusinessNZ has long been a supporter of a longer term because business leaders value policy stability and a predictable environment where they can pursue productivity, innovation and growth, and feel confident about investing. Our current campaign Future Vision has been gauging support from businesses, who are largely in favour of a longer term.
    “Business investment horizons surpass political terms, and successive flip-flops do nothing to enhance New Zealand’s reputation as a safe place to invest and do business.
    “Political leaders hoping for change this time around will have to present a compelling narrative to explain the benefits in a way that rebuts fear, cynicism and tendency towards the status quo.”
    The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Greenpeace obtains coordinates of coral destruction NZ Government refused to reveal

    Source: Greenpeace

    The New Zealand government is refusing to release details of the location a New Zealand bottom trawler hauled up deep sea coral late last year, despite Greenpeace offering to go and survey the damage at the site with deep sea cameras.
    But following requests from the scientist in charge of designing the impending deep sea survey, Australia has released these coordinates so that documentation of the impact can go ahead.
    The Tasman Viking, a New Zealand bottom trawler, pulled up 37kg of deep sea coral in the Lord Howe Rise area, renowned for diverse marine life in October 2024. This triggered a rule under the South Pacific Regional Fisheries Management Organisation (SPRFMO), to temporarily close the area.
    Under SPRFMO, the best available information is meant to be provided on the nature of an encounter such as this, and Greenpeace has offered to go and document the site as part of their Seamounts Expedition, due to commence in March 2025.
    But requests from Greenpeace for the coordinates of the area were declined by the New Zealand Government due to ‘commercial sensitivity’. The Australian SPRFMO Commissioner has now released these coordinates in response to requests from the expedition’s Lead Researcher.
    Greenpeace’s Ellie Hooper is calling the New Zealand government’s refusal to share the coordinates “ludicrous” and “a blatant example of the Luxon led government running interference for the fishing industry.”
    Hooper says: “In collaboration with scientists, we’re heading out to the deep ocean to survey vital habitats so we can see what lives there and how that life is being impacted by bottom trawling, including hopefully surveying this impacted site.
    “We want to add to our collective understanding of these deep sea ecosystems, about which so little is known, and to shine a light in the dark.”These coordinates have already been shared with all fishing companies and SPRFMO countries, so why is the information being hidden?
    “Australia clearly has a more progressive and transparent approach when it comes to deep-sea management, and has provided us with the opportunity to go to this area and attempt to survey it.”
    Seamounts and other underwater hills and knolls are ocean lifelines, often home to diverse coral and sponges, and are key breeding grounds for fish and feeding spots for migrating whales.
    “The main threat to these ecosystems is bottom trawling,” says Hooper.
    It’s estimated that coral brought to the surface by trawlers is only a small fraction of what’s destroyed on the seafloor.1
    Next week, Greenpeace Aotearoa will embark on its Seamounts Expedition, where deep sea cameras will be used to collect images and data of these ecosystems, and identify the species living on them.
    “To make the most informed decisions on the ocean, we need more observation and science, something that appears to be being blocked by NZ,” says Hooper. “Less than 1% of the world’s seamounts have been surveyed, and most of what we do know about these places is from what’s dragged up dead in bottom trawl nets. That’s a pretty sad reality. “We’re setting out to try and uncover some of the secrets of the deep, it’s challenging work and we don’t know exactly what we ‘ll find – but we’re committed to trying.”
    New Zealand is the only country still bottom trawling in the high seas of the South Pacific and has faced criticism for blocking protection measures at SPRFMO this month.Summary:
    • In November 2024 last year it was reported that an NZ bottom trawler, Westfleet’s Tasman Viking pulled up 37kg of deep sea coral from the Lord Howe Rise area, in the international waters of the South Pacific.
    • This triggered a suspension of all fishing in the area.
    • Greenpeace is offering to survey the impact site using deep sea cameras as part of a seamounts survey we’re carrying out in March 2025
    • But the NZ government has turned down Greenpeace’s request for the information quoting commercial sensitivities, despite all fishing operators, and SPRFMO states already being notified of the location.
    • The Australian SPRFMO Commissioner [ lead of their delegation to the RFMO] responded to requests from the Lead Researcher on the seamounts expedition, providing the coordinates of the closed area..
    • Greenpeace says NZ failing to release the data is clearly the government protecting the commercial fishing industry above gathering scientific information about the impact of the encounter.
    • After a VME encounter such as this in the SPRFMO zone [high seas], states are meant to use the best available scientific information to assess the impact. Documenting the site would inarguably be the best available information, and Greenpeace is offering to provide this with the survey.
    • The Greenpeace seamounts expedition will commence in March 2025 and is designed to gather deep sea imagery of deep sea habitats both in the waters of Aotearoa and the international waters of the South Pacific.
    • Greenpeace plans to make the findings available so they can be used to improve our collective knowledge of the deep sea.
    Notes: Coral in nets to destroyed on seafloor ratios:1. Geange, S. et al 2017, SC7-DW14, and Stephenson, F. et al 2022, SC10-DW04

    MIL OSI New Zealand News –

  • MIL-Evening Report: Keith Rankin Chart Analysis – Germany’s stale (and still pale) political mainstream

    Analysis by Keith Rankin.

    Chart by Keith Rankin.

    The above chart traces the vote-share of Germany’s establishment political parties: the right-wing CDU/CSU and the now-centre-right SPD (essentially the Christian Democrats, just like National in New Zealand) and the Social Democrats (just like Labour). And it compares Germany with England to show a similar process there.

    An increasingly stale political centre has consolidated power in both Germany and the United Kingdom, despite record low vote-shares for these establishment parties. In Germany, the ‘major party’ combined vote has fallen to 45% (nearly as low as that in last year’s election in France, for the Centre and the traditional Right). In the United Kingdom, the establishment (Labour, Conservative) vote has fallen to 60%; though, given a much lower turnout in the United Kingdom than Germany, 60% there represents a similar level of support to that of the equivalent parties in Germany.

    With these outcomes being at-best borderline-democratic (JD Vance had a point about the shutting-out of alternative voices), neither country is scheduled to have another election until 2029. And the ‘left’ establishment parties – in office in both countries in March 2025 – are as right-wing as their centre-right predecessor governments of Merkel and Sunak.

    We note that, for Germany, elections before 1991 are for West Germany only. And, for the United Kingdom, my aim has been to focus on England, where Celtic nationalist parties have not played a role; thus until 1979, the British data is for the United Kingdom, whereas from 1983 the data is for England only. We also note that Germany shows few signs of promoting the literally colourful characters who play such an important part in contemporary British politics.

    The waxing and waning of the postwar German mainstream

    Postwar German politics began in 1949, with its new MMP voting system; proportional voting featuring two disqualification mechanisms, a five percent party-vote threshold, and the failure to gain a local electorate using the simple-plurality (FPP) criterion. (In Germany, in the 1950s, the latter disqualification rule was tightened; three electorate seats were required, rather than one.)

    The rise in the two-party vote from 1949 to 1972 represented the consolidation of the major-party system, essentially in line with the post-war German economic miracle. From 1949 to 1969, the government was CDU-led. The SPD led the government from 1969 to 1982 (though with fewer votes than the CDU/CSU). All subsequent governments have been CDU-led, except for the relatively short-lived administrations of Gerhard Schröder (c.2000) and Olaf Scholz.

    The fall in establishment-party vote-share reflects the rise of the Green Party in Germany, which itself reflects the waning of the economic miracle.

    The 1990s’ political stability reflects the reunification era, the political dominance of Helmut Kohl; and the fact that, due to reunification, German politics suspended its characteristic debt-phobia.

    The 2000s and 2010s represents the Angela Merkel era. The 2009 result reflects the Global Financial Crisis. The 2005 vote reflects the early Eurozone period, in which investment within the European Union was diverted into the development of the southern EU countries (and to Ireland). In particular, the 2000s saw the rise of The Left Party, which was shunned by the Establishment parties; this was the beginning of the German ‘firewall’, which meant that ‘grand coalitions’ were favoured over the inclusion of ‘outsider’ parties into government. In that time, the Green Party became a centrist party; inside rather than outside ‘the tent’.

    In 2014 the debt-phobic way Germany ‘resolved’ the Euro crisis was popular in Germany, though ‘austerity’ ushered in the deflationary bias that has characterised subsequent fiscal policy in the European Union. (The adverse effect of deflationary fiscal policy was the use of a zero-interest-rate monetary policy by the European Central Bank; so the adverse consequences of the austerity policies played out more slowly than they might have.)

    Since the initial ‘triumph’ of austerity in 2014, we have seen a substantial and ongoing decline in the vote for the establishment parties. However, these parties managed to consolidate power despite haemorrhaging votes. The new 2025 Government will be a substantially right-wing government made up of German-National (CDU 28.5%) and German-Labour (SPD 16.4%); this represents easily the worst vote ever for the ‘left’ SPD and easily the second-worst vote ever for the ‘winning’ CDU/CSU.

    And, in the United Kingdom, the vote for Labour in 2024 was easily the worst vote of any ‘winning’ party in any election since 1945 (and possible since the time of Walpole in the 1720s).

    Democracy anyone?

    Postscript UK

    In the UK, the highest percentage vote for a political party in the postwar era was 48.8% for Clement Attlee’s Labour Party, seeking a third term in office (in a very-early election which Attlee was tricked into calling). Labour was defeated, despite its record-high poll! Winston Churchill’s Conservatives got 48.0% of the vote; but, crucially, more seats. Attlee’s government was the least stale government in the United Kingdom’s post-war history; Attlee, in the UK, had a popularity and significance comparable to that of Michael Joseph Savage in New Zealand.

    *******

    Keith Rankin (keith at rankin dot nz), trained as an economic historian, is a retired lecturer in Economics and Statistics. He lives in Auckland, New Zealand.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Trump says to impose 25 pct tariffs on EU cars, other products

    Source: China State Council Information Office

    U.S. President Donald Trump said on Wednesday that his administration has made a decision to impose 25 percent tariffs on products from the European Union (EU), including cars.

    “We have made a decision. We’ll be announcing it very soon, and it’ll be 25 percent generally speaking, and that’ll be on cars and all other things,” Trump told reporters at a White House cabinet meeting.

    U.S. President Donald Trump returns to the White House via Marine One in Washington, D.C., the United States, Feb. 22, 2025. (Xinhua/Hu Yousong)

    Trump claimed that the European Union has “taken advantage of” the United States. “They don’t accept our cars, they don’t accept, essentially, our farm products. They use all sorts of reasons why not. And we accept everything of them, and we have about a 300 billion dollar deficit with the European Union,” he said.

    Politico previously reported that the 300-billion-U.S.-dollar deficit is overstated. “In 2023, the U.S. goods trade deficit with the bloc was 155.8 billion euros, according to EU data. In services, however, the U.S. had a surplus of 104 billion euros, bringing the overall trade balance to 51.8 billion euros (roughly 56 billion U.S. dollars),” according the report.

    When asked by a reporter whether he would continue to delay tariffs on Mexico and Canada due to progress on border control, Trump said he would not prevent the tariffs from taking effect and claimed that the influx of fentanyl had caused “millions of deaths.”

    “I’m not stopping the tariffs. No,” Trump said.

    U.S. Secretary of Commerce Howard Lutnick explained two key deadlines related to the tariffs. Previously, the tariffs on Mexico and Canada had been delayed for one month and is set to take effect on March 4, and the two countries needed to prove to the president before the deadline that they had taken satisfactory actions in controlling the entry of fentanyl. Trump said that “it will be hard to satisfy.”

    Lutnick also noted that the overall tariff actions against more countries would be implemented on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products. On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations.

    On Monday, Trump said that tariffs on Mexico and Canada will “go forward.”

    MIL OSI China News –

  • MIL-OSI USA: WATCH: Senator Reverend Warnock Defends Consumer Protections Under Threat by DOGE

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    WATCH: Senator Reverend Warnock Defends Consumer Protections Under Threat by DOGE

    During a Wednesday Senate Democratic Banking Committee forum, Senator Reverend Warnock spotlighted disastrous harm for Georgia families because of the Trump Administration’s reckless attack on consumer protection, gutting the Consumer Financial Protection Bureau (CFPB)
    The special hearing followed the recent news of the dissolution of CFPB, one of many federal agencies gutted by the Elon Musk-led Department of Government Efficiency (DOGE)
    Senator Reverend Warnock is a member of the Subcommittee on Financial Institutions and Consumer Protection, which he chaired last Congress, and which oversees the CFPB
    In partnership with Senator Reverend Warnock, CFPB addressed 266,560 complaints from Georgians, including 20,168 from servicemembers in the state
    Senator Reverend Warnock on DOGE: “The CFPB is the only financial regulator dedicated solely to protecting Americans’ wallets and pocketbooks from scammers and predatory financial services companies”

    Watch Senator Reverend Warnock at the special Banking hearing HERE
    Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA), member and former chair of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection, which oversees the CFPB (Consumer Financial Protection Bureau), highlighted the benefits and savings provided by the CFPB and the disasters consequences of this new administration’s efforts to dismantle the agency.
    The special hearing was organized by Ranking Member of the Banking Committee, Senator Elizabeth Warren (D-MA) and aimed to highlight the repercussions of dismantling the CFPB, which was ordered by the Elon Musk-led DOGE earlier this month.
    “If you want to see what government efficiency looks like, it’s a government agency that gets this kind of response [quick], often from bad actors who don’t want to respond, and has returned some $21 billion not to the Treasury, but to the American consumer,” said Senator Reverend Warnock during the special hearing.
    Some of the key witnesses included a former CFPB employee and others who had benefited from the work of the CFPB. Elon Musk was invited to the hearing, but did not attend.
    Last Congress, Senator Warnock worked extensively with CFPB Chair, Rohit Chopra, to return funds and protect Georgians from future financial hardship, including:
    Watch the Senator’s full remarks and line of questioning HERE. 
    See below transcript of the key exchange between Senator Warnock and the hearing witnesses:
    Senator Reverend Warnock (SRW): “We’re here today because of an unelected billionaire – nobody elected Elon Musk – posing as co-President, is trying to delete the CFPB (Consumer Financial Protection Bureau), the only financial regulator dedicated solely to protecting Americans’ wallets and pocketbooks from scammers and predatory financial services companies.”
    “The CFPB, let’s be reminded why it was created. It was created in the wake of the financial crisis that Americans saw when Wall Street bankers got bailed out while millions lost their jobs, lost their homes, lost their life savings, lost their retirements.”
    “Let me get right to the questions because we all understand just how critical this issue is, but let me just point out that when you file a complaint with the bureau, the CFPB sends it directly to the company on your behalf. Americans need to know what they’re getting. Most companies respond within 15 days, it took less than that for Ms. McCall.  This is a model of government efficiency, that’s the tragic irony of this moment.”
    “If you want to see what government efficiency looks like, it’s a government agency that gets this kind of response, often from bad actors who don’t want to respond, and has returned some $21 billion not to the treasury, but to the American consumer.”
    “One predatory practice that has increased costs on consumers that Donald Trump says he wants to address are these opaque hidden fees. If you want to address consumer costs, deal with junk fees. These fees can prevent a working mom from being able to afford a routine car repair so she can get to work. They could mean a person with diabetes cannot afford their insulin or that a family may have to skip a meal during the week to make ends meet.”
    “Ms. Salas, what effects have the bureau’s policies, toward limiting junk fees had on consumers?”
    Ms. Salas (MS): “We placed a lot of emphasis on looking at junk fees across different markets for consumers, we looked at the mortgage market, we looked at banks, and other finance companies in the last two or three years. And in addition to the litigation that my colleagues in the enforcement team have brought to the courts, we have instructed, we have advised companies to refund consumers – over $350 million just in the work that supervision does, and that is money that consumers, American families don’t even know it was the bureau behind the company saying ‘You must give this money back’ because again the work is confidential.”
    (SRW): “So very efficient, very effective.”
    “What do you anticipate happening if congressional Republicans repeal the overdraft fee rule?”
    (MS): “I’m afraid we will go back to where we were a few years ago where consumers didn’t quite understand why they were paying all these fees on their bank accounts, on their savings, on their checking accounts, because of the complicated ways in which banks decided to order the different payments, and for people who are struggling to make ends meet, you cannot afford to lose $25, $30, $100 from your bank account.”
    (SRW): “One last question. Consumer or medical debt is a major problem in our country, we see it, especially in Georgia. According to the CFPB data as of June 2023, about 5% of Americans had unpaid medical bills on their credit reports down from 15% in March of 2022.”
    “From 15 percent now to 5 percent.”
    “Ms. Gillen, it is coming up on 2 years since the credit bureaus made this announcement. What changes have you seen on applicants’ mortgage applications and has this change made it easier for Americans to rightfully qualify for a mortgage?”
    Ms. Gillen (MG): “Yes, I have seen fewer medical debts being reported, but guilty as charged, if I see medical debt, I’ll have the borrower dispute the charge, and I’ll pull a new credit report.”
    (SRW): “Well, good for you, and the CFPB magnifies that many, many times over.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: Aged Care issues – Consumer NZ backs calls for court action against retirement village operators’ unfair contract terms

    Source: Consumer NZ

    Consumer NZ and the Retirement Village Residents Association are concerned retirement villages are ignoring warnings from the Commerce Commission about unfair terms in their contracts with residents. Both organisations are calling for the Commission to take further action.  

    Following complaints from Consumer NZ and the Retirement Village Residents Association (RVResidents), the Commerce Commission warned village operators some of their care claims and contract terms risked breaching the Fair Trading Act.  

    One term the Commission identified as potentially unfair allowed operators to charge residents for maintenance and repairs of chattels or fixtures within their units.  

    The Commission considered these terms likely to be unfair because the residents don’t have any ownership rights over their units, or the operator’s chattels, yet are expected to pay for maintenance and repairs.

    Despite the Commission’s warning, most of Metlifecare occupation right agreements (ORAs) still allow the operator to charge its residents for maintenance and repairs.  

    After this was brought to RVResidents attention, it recently lodged a further complaint with the Commission, asking it to take court action. Consumer backs this call.  

    Jon Duffy, Consumer NZ chief executive, says living in a village under an ORA isn’t the same as owning a home because residents have no ownership rights, and in most cases, aren’t entitled to any capital gains when their units are sold.

    “Even though residents don’t own the units, chattels or fixtures, they’re often responsible for the cost of maintenance, repairs and replacement of everything from heat pumps and blinds to light switches and power sockets.  

    “We think that’s completely unfair. Responsibility for repairing, replacing and maintaining operator-owned fixtures and chattels should fall on the retirement village.”

    Residents don’t want to make a fuss

    Di Sinclair, RVResidents national vice president and complaints coordinator, says the organisation receives ongoing complaints from Metlifecare residents about having to foot the bill for maintenance and repairs.

    “In one case, an elderly woman was charged $562 for a draft strip to close up a gap between her garage door and some uneven concrete outside.”

    Yet, according to Sinclair, under the Retirement Villages Code of Practice 2008, which sets out the obligations operators must meet, Metlifecare would be responsible for fixing the problem with the garage door, particularly as it was initially caused by the concrete beyond the woman’s villa.

    “The operator must keep the building and equipment in good working order. A garage door, particularly one attached to a unit, is part of that obligation,” Sinclair says.

    The resident fought the charge, and the operator backed down. It said it would pay half the repair cost and credited her account with $281. The resident reluctantly agreed to pay the reduced sum.

    “Residents are afraid of repercussions if they ‘make a fuss’, and they often feel they don’t have the emotional or physical strength to get into conflict with village management.

    “It’s not fair that they have to rely on advocates to enforce their rights,” says Sinclair.

    Consumer urges the Commission to hold retirement village operators to account

    RVResidents is asking the Commission to seek a court declaration that these terms are unfair.

    Consumer’s Jon Duffy agrees with Sinclair – residents shouldn’t have to get advocates involved to get a fair deal. ORA terms should be fair from the get-go, but often, they don’t meet the mark.

    “Unfortunately, there isn’t much residents can do if they think their village is relying on an unfair contract term – only the Commerce Commission can take action.  

    “This needs to change to ensure residents, and others facing unfair terms, are protected. In the meantime, we want to see the Commission give teeth to its warnings and take action to protect residents,” says Duffy.

    “We support RVResidents’ call to action and urge the Commission to hold operators to account.”

     

    Note

    Read the full article on Consumer’s website: How Metlifecare is ignoring the Commerce Commission’s warnings: https://consumernz.cmail19.com/t/i-l-fdrjtdk-ijjdkdttjk-t/

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Universities – Team behind University’s first Pacific Strategy spans the Moana

    Source: University of Auckland (UoA)

    Finance Opposition spokesperson, the Hon Pesetatamalelagi Barbara Edmonds visited her alma mater, the University of Auckland to talk with Business academics and learn more about the Pacific Strategy and Pacific Academy initiatives launching this year.

    Edmonds (Fale’ula, Faleatiu, Safotu, Fasito’o/Sāmoa) is the MP for Mana and visited the University on 24 February. She met with leaders from the School of Business, Schools and Community Engagement, and the Office of the Pro Vice-Chancellor Pacific.
     
    “It’s nice to be back home, it does feel like home, this is my alma mater where I did my Law and Arts degree that set me up for my career.”
     
    Edmonds says it was good to be amongst Pacific students and to have in-depth discussions focused on economic policies.
     
    “We had good discussions with the School of Business, around macro and micro economic policies that we will be testing as part of our policies that we will be forming,” she says.
     
    Pro Vice-Chancellor Pacific Professor Jemaima Sipaea Tiatia-Siau says drafting the University’s first Pacific Strategy in 142 years has been a huge task over the last year; having someone with the expertise and calibre of the Finance Opposition Spokesperson view the work undertaken highlights the strategy’s significance.
     
    “We’re grateful to have had the Hon Barbara Edmonds come onto campus, to be able to share with her the work we have undertaken.
     
    “She’s a great example of why drawing up a road map for Pacific success here at the University is important, so that our young people can flourish at the University and leave ready to take on the world.”
     
    Professor Tiatia-Siau says the Mana MP relished learning about initiatives to prepare school leavers for the university environment such as Auckland Maths Challenge and the Pacific Academy, ensuring Pacific youth were able to thrive.
     
    Edmonds says it was also important to encourage the Pacific community into the Business space.  She pivoted during her career path starting out in Health Sciences before graduating with a Bachelor of Laws and Bachelor of Arts in 2008, going on to become a specialist tax lawyer.
     
    A mother of eight, her path to becoming a Cabinet Minister began eight years ago while working as a private secretary for the National Party’s Ministers of Revenue, Michael Woodhouse and Judith Collins. The following year in 2017 she was appointed as a political adviser for the Labour Government’s Revenue and Police Minister Stuart Nash. She entered Parliament in 2020 as the MP for Mana and became a Cabinet Minister in 2023, holding the Internal Affairs and Pacific Peoples portfolios.
     
    “I came into the business space through the Arts and through Law, it was a very different pathway, says the 44-year-old.
     
    “I got into the area of tax through law, it’s a good indicator of broadening [your scope]. The Humanities and the Arts are important, it means you have a good grounding for a diverse career.
     
    “I’ve been really fortunate that I had a good grounding here, with the Law School and with the Faculty of Arts, and that means decades later you become a Finance Opposition spokesperson for a major political party – don’t knock the Arts!”
     
    Professor Tiatia-Siau says Edmonds’ visit to give guidance and moral support to developing the Pacific Strategy was timely.
     
    “We are this week welcoming our first-year students and we are also on the eve of a great milestone. The presence of Pesetatamalelagi the Hon. Barbara Edmonds is a show of support for the work we are doing, and she is a wonderful role model of what can be accomplished once you have secured a university education.”

    MIL OSI New Zealand News –