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  • MIL-OSI Asia-Pac: Bharat Tech Triumph Program

    Source: Government of India (2)

    Posted On: 21 FEB 2025 6:16PM by PIB Delhi

    Unlocking India’s Gaming Potential

     

    Introduction

    India’s gaming industry has seen remarkable growth particularly in digital and online gaming, which has become one of the fastest-growing sectors in the country’s media and entertainment landscape. To support this growth the Bharat Tech Triumph Program (TTP) has been launched as part of the Create in India Challenge Season 1. Organized by the Interactive Entertainment and Innovation Council (IEIC) in partnership with the Ministry of Information and Broadcasting (MIB) the program aims to identify and showcase India’s gaming talent on the international stage.

    The initiative will culminate at the World Audio Visual Entertainment Summit (WAVES) and the India Pavilion at the Game Developer Conference (GDC) in 2025 providing a global platform for Indian innovators to shine.

    The World Audio Visual & Entertainment Summit (WAVES) in its first edition is a unique hub and spoke platform poised for the convergence of the entire Media and Entertainment (M&E) sector. The event is a premier global event that aims to bring the focus of the global M&E industry to India and connect it with the Indian M&E sector along with its talent.

    The summit will take place from May 1-4, 2025 at the Jio World Convention Centre & Jio World Gardens in Mumbai. With a focus on four key pillars—Broadcasting & Infotainment, AVGC-XR, Digital Media & Innovation, and Films-WAVES will bring together leaders, creators and technologists to showcase the future of India’s entertainment industry.

    The AVGC-XR (Animation, Visual Effects, Gaming, Comics, and cutting-edge technologies such as Augmented Reality, Virtual Reality, and the Metaverse) pillar in particular aligns with the objectives of the Bharat Tech Triumph Program emphasizing the intersection of gaming, animation, visual effects and immersive technologies like AR, VR and the Metaverse.

    Eligibility Criteria

     

    The Bharat Tech Triumph program welcomes a diverse range of participants from the interactive entertainment industry including developers, studios, startups, and tech companies. This initiative is open to individuals and organizations involved in gaming development, esports and business solutions critical to the gaming ecosystem. The program invites entities from various stages of development as long as they have a working prototype.

    Registration Process

    Tech Triumph Season 3 is poised to elevate India’s gaming ecosystem showcasing the nation’s potential to create a globally recognized ‘Made in India’ tech industry. With 1,078 registrations already, including 12 from international participants the program is gaining momentum.

    Please note, the application submission for Tech Triumph Season 3 closed on February 20, 2025.

    Stages of the Challenge Process:

    Step 1: Game Submission: Start your journey by submitting your game via the contest form available on the official website.

    Step 2: Expert Evaluation: The esteemed panel of experts will carefully review all submissions shortlisting the top entries for the pitching round. After the pitches the final results will be announced by the distinguished jury.

    Step 3: Gearing Up for Events: Upon the announcement of the winners, the organizers will promptly reach out to guide and assist them in preparing for their prominent showcase at the events.

     

    Evaluation Criteria

    The evaluation criteria for the Bharat Tech Triumph Program focus on assessing key aspects of your product, pitch and team to determine its potential for success. Here’s a breakdown of how each element will be evaluated:

    Prize
    Winners of the Bharat Tech Triumph Program will have an incredible opportunity to showcase their products, intellectual property and technology on a global stage. They’ll be fully sponsored to present their innovations at the prestigious Game Developers Conference (GDC) 2025 in San Francisco from March 17th to 21st and later at WAVES in India. This is a unique platform to gain international exposure and connect with industry leaders.

    References:

    Click here to see PDF.

    *****

    Santosh Kumar/ Ritu Kataria/ Kamna Lakaria

    (Release ID: 2105340) Visitor Counter : 45

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Director-General of Investment Promotion concludes visit to Japan and Korea (with photos)

    Source: Hong Kong Government special administrative region

    Director-General of Investment Promotion concludes visit to Japan and Korea (with photos)
    Director-General of Investment Promotion concludes visit to Japan and Korea (with photos)
    *****************************************************************************************

         ​The Director-General of Investment Promotion at Invest Hong Kong, Ms Alpha Lau, today (February 21) concluded her visit to Japan and Korea, which was aimed at promoting Hong Kong’s business advantages and exploring new opportunities for collaboration.           During the trip, Ms Lau met with representatives from various corporations, including leading global enterprises, long-established trading companies, influential local businesses and industry associations, as well as entrepreneurs in both countries. The discussions focused on Hong Kong business opportunities in areas such as financial services, trade, innovation and technology, advanced manufacturing, as well as opportunities arising from the Northern Metropolis development. She also took the opportunity to meet with the local media to elaborate on the latest business advantages in Hong Kong.     Ms Lau said, “Both Japan and Korea are facing the issue of an aging population. For corporates looking for growth, they have to expand into overseas markets. Hong Kong, as a ‘super connector’ and a ‘super value-adder’, serves not only as a gateway to the Mainland market, but also as the perfect platform for Japanese and Korean companies to expand into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the entire ASEAN (Association of Southeast Asian Nations) market.           “The Hong Kong Government is committed to promoting the development of innovation and technology. With our sophisticated innovation and technology ecosystem, Hong Kong provides huge business opportunities for Japanese and Korean start-ups that want to expand overseas. At the same time, the city is actively promoting the silver economy, and Japan and Korea have solid experience in this area. We can further cooperate with Japan and Korea to address the issue of an aging population,” she added.           The President of the Hong Kong Japanese Chamber of Commerce and Industry, Mr Kiichiro Takanami, said, “Hong Kong is the ideal platform for Japanese businesses to expand internationally. Apart from being the culinary and movie capital of Asia, the city also plays a vital role in the innovation development of the GBA, offering unmatched connectivity, a business-friendly environment and skilled talent. Japanese companies can leverage Hong Kong’s business advantages to scale their operations and tap into Mainland China and new markets across Asia.”           The Director General of the Korea Trade-Investment Promotion Agency in Hong Kong, Mr Jaesun Uh, said, “Hong Kong is an unparalleled gateway for Korean corporates and start-ups looking to expand globally. With its crucial role as an international financial centre, its investor-friendly policies and strategic access to the GBA, Hong Kong provides an ideal launchpad for innovation-driven businesses seeking international expansion.”           He added, “For Korean start-ups aiming to go global, Hong Kong presents an exceptional opportunity. With its vibrant start-up ecosystem, easy access to venture capital, deep connections to international markets, and a business-friendly regulatory environment, it is a strategic choice for scaling innovation.”           The visit culminated in a commitment to continue dialogues and explore further avenues for collaboration, reinforcing Hong Kong’s status as a premier business destination for corporates and entrepreneurs from Japan and Korea.

     
    Ends/Friday, February 21, 2025Issued at HKT 20:05

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    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Upgrade to iPhone 16e and save with incredible offers from Verizon

    Source: Verizon

    Headline: Upgrade to iPhone 16e and save with incredible offers from Verizon

    NEW YORK – Verizon will offer iPhone 16e, a new addition to the iPhone 16 lineup, featuring breakthrough battery life, the fast performance of the A18 chip, Apple Intelligence1, and a 48MP 2-in-1 camera system — all at an incredible value. Customers can pre-order the new iPhone 16e starting Friday, February 21, with availability beginning Friday, February 28. Visit verizon.com for complete pricing and availability details,

    Major savings and value on iPhone 16e at Verizon

    Starting February 21, Verizon customers can get:

    • Switch to Verizon or add a new line and can get iPhone 16e for $5 a month for 36 months on myPlan2.
    • Want to trade in your phone? Get iPhone 16e on us when you trade-in your current iPhone, Samsung or Google phone — in any condition — and sign up for a new line on myPlan3.
    • Verizon Business customers: For a limited time, get iPhone 16e on us with a new activation on either the Business Unlimited Plus or Unlimited Pro plan with a Verizon Device Payment agreement4. And, eligible Public Sector customers can get a new 128GB iPhone 16e on us on a qualifying two year agreement5.

    Verizon myPlan gives you ultimate access to Apple One

    Supercharge your iPhone 16e with Verizon myPlan, built to give you more flexibility, more perks and more value. Whether you’re upgrading to the latest iPhone for yourself or keeping your business running smoothly with a Verizon Business Unlimited Plan, you’ll stay connected with Verizon’s ultra-fast 5G network—built for whatever life throws your way.

    With myPlan, you’re in control. Pick the perks that matter to you, like Apple One for just $10/month (Individual Plan) or $20/month (Family Plan), plus get deals on entertainment, shopping and more. It’s your phone, your plan, your way — only with Verizon.

    Everything you need to know about the iPhone 16e

    iPhone 16e offers powerful capabilities at a more affordable price. It delivers fast, smooth performance and the best battery life ever on a 6.1-inch iPhone, thanks to the industry-leading efficiency of the A18 chip and the new Apple C1, the first cellular modem designed by Apple. iPhone 16e is also built for Apple Intelligence, the intuitive personal intelligence system that delivers helpful and relevant intelligence while taking an extraordinary step forward for privacy in AI. The 48MP Fusion camera takes gorgeous photos and videos, and with an integrated 2x Telephoto, it is like having two cameras in one, so users can zoom in with optical quality. When outside of cellular and Wi-Fi coverage, iPhone 16e can use Apple’s groundbreaking satellite features — including Emergency SOS, Roadside Assistance, Messages, and Find My via satellite.

    With custom-designed components and deeply integrated software, iPhone 16e users can stay connected and get help when it matters most6. iPhone 16e will be available in two elegant matte finishes — black and white — with colorful cases available to accessorize.

    iPhone 16e can be activated with an eSIM, a more secure alternative to a physical SIM card. With eSIM, users can quickly activate their cellular plan, store multiple cellular plans on the same device, and stay connected. Verizon supports eSIM Quick Transfer which allows users to transfer their existing plan to their new iPhone.

    Visit verizon.com on February 28 to order your new iPhone 16e.

    For more details on Apple products, please visit www.apple.com.

    1 Apple Intelligence is available in localized English for Australia, Canada, Ireland, New Zealand, South Africa, the U.K., and the U.S. Additional languages, including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, and Chinese (simplified), English (Singapore), and English (India) will be available in April. Some features, applications, and services may not be available in all regions or all languages.

    2 $599.99 (128 GB only) purchase w/new smartphone line on Unlimited Ultimate, postpaid Unlimited Plus or Unlimited Welcome plan req’d. Less $419.99 promo credit applied over 36 mos.; promo credit ends if eligibility req’s are no longer met; 0% APR. Offer may not be combined with other offers. Apple Intelligence requires iOS 18.1 or later.

    3 $599.99 (128 GB only) purchase w/new smartphone line on Unlimited Ultimate, postpaid Unlimited Plus or Unlimited Welcome plan (min. $65/mo w/Auto Pay (+taxes/fees) for 36 mos) req’d. Less $600 trade-in/promo credit applied over 36 mos.; promo credit ends if eligibility req’s are no longer met; 0% APR. Trade-in must be from Apple, Google or Samsung; trade-in terms apply. Apple Intelligence requires iOS 18.1 or later.

    4 Taxes & fees apply. New line w/device payment purchase agmt & Business Unlimited Plus or Unlimited Pro plan req’d. $599.99 credit applied to acct. over the term of your agmt (up to 36 mos, 0% APR); promo credit ends when eligibility requirements are no longer met. Credits begin in 2-3 bills & will include appropriate credit amounts from order date. Cannot be combined with other device offers. This device supports only 5G Ultra Wideband mid-band (C-band), 5G and 4G LTE. iPhone 16e 128GB monthly fee after credit: $0. Offer ends 3.31.2025.

    5 iPhone 16e offer only. Plan Requirements: Fed – $15+ with data feature; State & Local – $19.99+ with data feature; State of TN – flat rate plan with data feature (must meet PP requirement). Available to government-liable subscribers only and subject to the terms, provisions and conditions of Verizon Wireless-approved government contracting vehicles. An Offer Recovery Fee (ORF) will be assigned to NASPO MA 152 customer lines that take advantage of select quarterly offers and will be charged on the customer’s bill if the line is disconnected before the end of the line term. 5G and 5G UWB may not be available to all government customers. See terms and conditions of your contract. Pricing excludes taxes and fees and is subject to change without notice. Offer ends 3.31.2025.

    6 Apple’s satellite features are included for free for two years starting at the time of activation of a new iPhone 16e . For Emergency SOS via satellite availability, visit support.apple.com/en-us/HT213426. Messages via satellite will be available in the U.S. and Canada in iOS 18 or later. SMS availability will depend on carrier. Carrier fees may apply. Users should check with their carrier for details. Roadside Assistance via satellite is currently available in the U.S. with AAA and Verizon Roadside Assistance, and in the U.K. with Green Flag. Participating roadside assistance providers may charge for services, and iPhone users who are not members can take advantage of their roadside assistance services on a pay-per-use basis. Apple’s satellite features were designed for use in open spaces with a clear line of sight to the sky. Performance may be impacted by obstructions such as trees or surrounding buildings.

    MIL OSI Economics –

  • MIL-OSI Economics: BOEM Rescinds Flawed NTL—The Right Decision for Offshore Energy

    Source: National Ocean Industries Association – NOIA

    Headline: BOEM Rescinds Flawed NTL—The Right Decision for Offshore Energy

    For Immediate Release: Friday, February 21, 2025NOIA .org
    BOEM Rescinds Flawed NTL—The Right Decision for Offshore Energy
    Washington, D.C. – National Ocean Industries Association President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) rescinded NTL No. 2023-G01, Expanded Rice’s Whale Protection Efforts During Reinitiated Consultation with NMFS:
    “The NTL was the direct result of a July 2023 Stipulated Stay agreement between the Biden administration and activist groups—crafted behind closed doors without input from experts, stakeholders, or Congress. This kind of backroom policymaking ignores the best available science, contradicts Congressional directives, and undermines America’s energy independence.
    “Shortly after, the Western District of Louisiana issued a preliminary injunction blocking the NTL’s implementation, finding that Interior’s actions were procedurally invalid, arbitrary, and capricious—a decision later upheld by the 5th U.S. Circuit Court of Appeals. Yet despite the courts striking it down, the NTL continues to create uncertainty for offshore energy development. It is simply bad policy to keep federal guidance in place when it was both legally flawed and developed as a closed-door settlement.
    “Although the NTL labeled mitigation measures—such as vessel speed limits and nighttime travel restrictions—as ‘recommendations,’ it urged companies to incorporate them into future plans, sowing long-term regulatory uncertainty. These measures also disproportionately burdened offshore oil and gas operations, undermining job creation, economic growth, and energy security, all without a foundation in science.
    “Environmental protection is a shared priority, but it must be pursued through a fair and transparent process. The Rice’s whale remains fully protected under the Endangered Species Act and the Marine Mammal Protection Act, regardless of the NTL. Meanwhile, BOEM and NMFS are following a more established regulatory process as they update the Biological Opinion governing Gulf of America oil and gas permitting and work on the Rice’s whale critical habitat designation, both expected later this year. Unlike the NTL, this process allows for greater transparency, stakeholder input, and adherence to established regulatory norms.”
    ##
    About NOIA The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.

    MIL OSI Economics –

  • MIL-OSI Economics: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

    Source: European Central Bank

    February 2025

    21 February 2025

    Market operations

    Extension of liquidity lines until January 2027

    On 23 January 2025 the Governing Council approved the extension of the ECB repo lines with eight non-euro area central banks (Magyar Nemzeti Bank, Banca Națională a României, Bank of Albania, Andorran Financial Authority, National Bank of the Republic of North Macedonia, Central Bank of the Republic of San Marino, Central Bank of Montenegro and Central Bank of the Republic of Kosovo) until 31 January 2027. The decision was taken pursuant to the new framework for euro liquidity lines, which was adopted in 2023.

    Eurosystem climate stress test report

    On 13 February 2025 the Governing Council took note of the main findings of the 2024 climate stress test on the Eurosystem’s balance sheet, which will feed into the Eurosystem’s climate-related financial disclosures.

    Market infrastructure and payments

    Inclusion of provisions on the TARGET Analytical Environment in the T2 Currency Participation Agreement

    On 13 February 2025 the Governing Council approved the amendments to the agreement on the use of T2 services (T2 Currency Participation Agreement) to include the TARGET Analytical Environment as a standard feature offered to both current and future signatories of the T2 Currency Participation Agreement.

    Advice on legislation

    ECB Opinion on flood insurance

    On 4 February 2025 the Governing Council adopted Opinion CON/2025/3 at the request of the Chair of the Oireachtas (Irish National Parliament) Joint Committee on Finance, Public Expenditure and Reform and Taoiseach (Irish Prime Minister).

    ECB Opinion on indirect participants in, and access to, payment systems, and a new exemption from the cash rule

    On 5 February 2025 the Governing Council adopted Opinion ECB Recommendation on the external auditors of the European Central Bank for the financial years 2025 to 2029

    On 12 February 2025 the Governing Council adopted Recommendation ECB/2025/6 to the Council of the European Union on the external auditors of the European Central Bank.

    Statistics

    Extension of the Integrated Reporting Framework and the Common Data Management investigation phases

    On 17 February 2025 the Governing Council approved the revised Quality Review Gate 1 documentation (including the Financial Envelopes and Project Charters), extending until the end of September 2025 the investigation phases of the ESCB and SSM Common Data Management and the ESCB Integrated Reporting Framework projects.

    Banknotes and coins

    Composition of the design contest jury for the new euro banknotes

    On 6 February 2025 the Governing Council took note of the composition of the design contest jury for the new euro banknotes. The jury will prepare a shortlist of designs to support the selection of the final design of the future euro banknotes by the Governing Council and is scheduled to start work in early 2025.

    ECB Banking Supervision

    Update of the 2025 Supervisory Examination Programme (SEP) for on-site inspections and internal model investigations at significant institutions

    On 30 January 2025 the Governing Council did not object to a proposal by the Supervisory Board for an update of the 2025 SEP for on-site inspections and internal model investigations at significant institutions and outsourcing service providers. The on-site SEP is based on SSM supervisory priorities for 2025-2027 published on the ECB’s banking supervision website.

    MIL OSI Economics –

  • MIL-OSI Economics: ECB announces changes to use of external ratings for private sector assets in Eurosystem collateral framework

    Source: European Central Bank

    21 February 2025

    • Second-best rating will apply for private sector assets
    • Changes will enter into force no earlier than 18 months from today to allow technical implementation
    • For euro area public sector assets, first-best rating will continue to apply

    On 19 February 2025 the Governing Council of the European Central Bank (ECB) decided to change the rules on the use of credit ratings issued by external credit assessment institutions (ECAIs) to assess the eligibility of private sector assets for use as collateral under the Eurosystem collateral framework and to determine the haircuts to be applied to those assets. Accordingly, the second-best rating will apply for private sector assets such as unsecured bank bonds, covered bank bonds and assets issued by non-financial corporations. This decision also applies to the accepted non-euro area public sector and follows a thorough review of the rating aggregation rules aimed at making better use of all available credit rating information in the Eurosystem Credit Assessment Framework (ECAF). The review took account of the increased number of ECAIs accepted in the ECAF and the fact that the Eurosystem is open to accepting additional rating agencies once they comply with the ECAF acceptance criteria.

    Under the current rules, where multiple ECAI ratings exist, the Eurosystem selects the first-best rating for the purpose of assessing collateral credit quality (when it determines the eligibility of private and public sector assets for use as collateral and assigns the haircuts to be applied). This approach applies to all assets other than asset-backed securities, for which a second-best rating rule is already followed.

    Under the new rules, private sector assets will be assessed on the basis of the second-best rating among the ratings from accepted ECAIs. For assets with only one rating from an accepted ECAI, where the second-best rule therefore cannot be applied, a one-notch downgrade will be applied to the available rating to determine the rating relevant for collateral purposes.

    The Governing Council also decided that the rules will remain unchanged for assets issued or guaranteed by the euro area public sector (e.g. euro area central, regional and local governments; international and supranational issuers located in the euro area whose shareholders are located in the EU; and agencies recognised by the ECB). These assets, for which the Eurosystem makes regular use of all available credit quality information and applies enhanced due diligence procedures, will therefore continue to be assessed on the basis of their first-best rating.

    The Governing Council reserves the right to deviate from credit rating agencies’ ratings if warranted, in line with its discretion under the monetary policy framework, thereby avoiding mechanistic reliance on these ratings.

    The change to the rules on the use of external ratings for private sector assets will enter into force no earlier than 18 months from today to allow for an implementation in the Eurosystem IT infrastructure. The date will be announced well in advance, together with the technical details, on the ECB’s website.

    For media queries, please contact Carlijn Straathof, tel.: +49 69 1344 23419.

    Notes

    MIL OSI Economics –

  • MIL-OSI USA: BOLSTERING INNOVATION: GOVERNOR HOCHUL AND SENATOR SCHUMER ANNOUNCE $65 MILLION EXPANSION OF NEXT-GENERATION BATTERY INNOVATION COMPANY BAE SYSTEMS IN THE SOUTHERN TIER

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    BAE Systems Commits To The Creation Of More Than 130 New Good-Paying Jobs At Village Of Endicott Location
    Continued New York State Investments Support The Southern Tier Region’s Comprehensive Strategy To Revitalize Communities And Grow the Economy By Focusing On Clean Energy Solutions
    Governor Kathy Hochul and Senator Charles Schumer today announced that BAE Systems is investing $65 million to expand operations in the Village of Endicott, Broome County. The company will add a total of 150,000 square-feet to its existing site to make way for the addition of a new battery production line and lab space, and new office space. As a result of the expansion, the company has committed to creating up to 134 good-paying jobs onsite. BAE Systems is a global defense, aerospace and security company with approximately 93,500 employees worldwide. The BAE Systems facility in Endicott designs, develops and produces a broad portfolio of safety-critical electronic systems from flight and engine controls to power and energy management systems. The company has been operational at the Huron Campus site since 2011.
    “BAE Systems’ decision to further expand its business represents yet another win for New York State and for the Southern Tier, which is laser focused on becoming a global hub for next-generation battery innovation efforts,” Governor Hochul said. “Since taking office, I have remained committed to bringing jobs back to Upstate New York. This incredibly successful company chose to grow its operations here, spurring top-quality, good-paying job creation in the region because they have seen firsthand how hardworking New Yorkers are.”
    Senator Charles Schumer said, “BAE Systems is adding 130+ good-paying jobs right here in the Southern Tier to make sure the next generation of America’s batteries are stamped ‘Made in Upstate NY.’ This $65 million expansion to add a new battery production line, research lab, and office helps show how we can bring this supply chain back from overseas, with the Southern Tier leading the way to make sure the future of battery manufacturing is manufactured in Broome County, not Beijing. BAE Systems is a vital part of the Southern Tier economy, with a world-class workforce of over 1200 people, and selecting this area for their major battery production expansion is no accident. I’m proud of the millions in federal support I’ve delivered – via the American Rescue Plan and my bipartisan CHIPS & Science Act – to the region to make it a global center for battery research and set the stage for today’s announcement. Today BAE is helping add another loop to establish this region as a core of manufacturing and innovation for America’s battery belt.”
    The project involves the expansion of BAE Systems battery production line, including the purchase and installation of machinery and equipment to efficiently produce an energy storage system for electric/hybrid electric aircraft. This facility will include an automated state-of-the-art production line, an engineering lab, and an aftermarket center, and is expected to be fully complete in 2027.
    Empire State Development is assisting the project with up to $8.5 million in performance-based Excelsior Jobs Tax Credit Program in exchange for the job creation commitments. Broome County is also providing assistance for the project.
    BAE Systems Senior Director Jim Garceau said, “This facility expansion reinforces our commitment to the Southern Tier and builds on New York State’s vision to create a regional hub for battery innovation.  With this investment, we will enhance our capabilities to address the emerging needs of the next-generation hybrid/electric aircraft.”
    Bolstering Next-Generation Battery Innovation
    Governor Hochul and Senator Schumer were instrumental in the company’s decision having worked closely with company officials to ensure that the project would move ahead in New York’s Southern Tier region which is laser-focused on supporting next-generation energy efforts – a top priority for the governor and senator.
    In January 2024, the Governor and Senator announced that the U.S. National Science Foundation had designated the New Energy New York (NENY) Storage Engine as a Regional Innovation Engine (NSF Engine), which was created by the Senator’s bipartisan CHIPS & Science Law. The NENY Storage Engine, anchored at Binghamton University in the Southern Tier Region, will receive up to $15 million in federal funding for two years and up to $160 million over 10 years to establish a hub that will accelerate innovation, technology translation and the creation of a skilled workforce to grow the capacity of the domestic battery industry. Through Empire State Development, New York State will match up to 20 percent for the first five years of the project as well as provide support through established programs. The NENY Storage Engine was chosen for its diverse, cross-sector coalition that will build a leading ecosystem driving battery technology innovation, workforce development and manufacturing to support U.S. national security and global competitiveness.
    Schumer has long fought to secure federal investment to boost the Southern Tier’s battery manufacturing and R&D. In 2021, Schumer created the Build Back Better Regional Challenge in the American Rescue Plan that he led to passage as Majority Leader. The senator personally advocated for the selection of the Binghamton University-led New Energy New York’s (NENY) battery hub proposal, helping deliver a $63.7 million federal investment with a $50 million funding match from New York State. In 2023, Schumer also delivered the prestigious federal Tech Hub designation, also created by his bipartisan CHIPS & Science Law for the Binghamton University-led NENY proposal.
    Empire State Development President, CEO & Commissioner Hope Knight said, “Governor Hochul’s strategic and laser-focused support for next-generation clean energy companies accelerates this cutting-edge industry’s growing presence in New York State. BAE Systems’ expansion will create top-quality jobs and opportunities in the Southern Tier, furthering the region’s leadership in battery technology innovation.”
    New York State’s Climate Agenda
    New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.
    New York Power Authority President and CEO Justin E. Driscoll said, “BAE Systems has been a major driver of economic growth in Broome County, and I congratulate them on their new $65 million expansion. Thanks to strategic investments from Governor Hochul and Senator Schumer, New York has become a testbed for battery storage innovation, and NYPA will continue to support firms like BAE Systems developing cutting-edge technology and spurring economic growth with low-cost power.”
    New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “With this investment in next generation battery technology at their Broome County location, BAE Systems is supporting local jobs and strengthening the state’s clean energy supply chains, ensuring New York continues to lead the way in innovation and clean tech economic opportunity. The expansion will also advance clean transportation in the aviation industry and support NYSERDA’s efforts in research, development, and demonstration of new technologies in the energy storage sector.”
    State Senator Lea Webb said, “It’s exciting to see BAE Systems expand its next-generation battery innovation operations right here in the Southern Tier, bringing up to 134 new jobs to the Village of Endicott, ” said State Senator Lea Webb. “This investment strengthens our region’s role as a leader in clean energy technology and advanced manufacturing. I want to thank Governor Hochul for her commitment to growing our local economy and everyone who made this expansion possible. This investment not only creates new opportunities for workers but also reinforces New York’s leadership in the future of sustainable energy solutions.”
    Assemblymember Donna Lupardo said, “Years of hard work and dedication have made our area a designated hub for battery innovation and manufacturing. BAE’s expansion to include a new battery production line will further establish our community as a leader in clean-energy technology. Their work on electric/hybrid bus and aircraft battery systems are game changers for the industry and for our local workforce. I’d like to thank BAE Systems for their continued investment in our community, and the Governor and Empire State Development for their ongoing support of this important work.”
    Broome County Executive Jason Garnar said, “BAE Systems’ expansion in Endicott is another major win for Broome County, reinforcing our region’s role as leader in next-generation battery innovation while creating even more job opportunities for our community. Thank you to Governor Hochul for her continued commitment to economic growth in the Southern Tier and to BAE Systems for choosing to expand here in Broome County.”
    Village of Endicott Mayor Nick Burlingame said, “BAE Systems’ decision to expand its operations in Endicott is a testament to the strength of our community, our workforce, and our region’s commitment to innovation. This investment not only reinforces Endicott’s legacy as a hub for cutting-edge technology but also brings new opportunities for local families and businesses. We are proud to support BAE Systems as they continue to grow and shape the future of clean energy and battery innovation right here in our village. We look forward to the jobs, economic impact, and advancements this expansion will bring to Endicott.”
    For additional information about BAE Systems, visit: https://jobs.baesystems.com/global/en/.
    Accelerating Economic Development in the Southern Tier
    Today’s announcement advances the Southern Tier Strategic Plan and complements “Southern Tier Soaring” strategy by facilitating economic growth and community development. These regionally designed plans focus on attracting a talented workforce, growing business and driving next-generation innovation. More information is available here.
    About Empire State Development
    Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. 
    The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X, formerly known as Twitter.

    MIL OSI USA News –

  • MIL-OSI USA: Luján Statement on GOP Budget that Sets the Stage to Dismantle Health and Nutrition Programs, Increase Everyday Costs

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Senate Republicans Block Luján Amendments to Improve Public Safety, Keep New Mexicans Safe
    Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M), a member of the Senate Committee on the Budget, issued the following statement on the Republican Budget Resolution: 
    “In the dark of night, Senate Republicans passed a partisan budget that will fund the Trump Tax Scam 2.0 at the expense of everyday Americans. This will make it harder for families to afford health care, put food on the table, and get a quality education – all to give a tax handout to the wealthiest Americans and corporations.
    “Slashing programs that millions of Americans rely on will devastate our families and communities. I joined my Democratic colleagues in introducing dozens of common-sense amendments that would make Americans safer, give children the resources needed to succeed, and lower costs for families. Senate Republicans blocked every single amendment, including one that I led to provide increased support for local law enforcement. 
    “Make no mistake, Republicans are using this opportunity to fund their newest tax scam instead of lowering costs for Americans.” 
    Senator Luján introduced and co-led a series of amendments to the Republican budget that will protect access to health care, make our communities safer, and improve the quality of life for New Mexicans. Senate Republicans blocked common-sense amendments introduced by Senator Luján and Senate Democrats. 
    Keeping New Mexico Communities Safe
    Amid a nationwide shortage of police officers, Senator Luján introduced an amendment to provide increased resources for local law enforcement by funding the COPS Hiring Program. The COPS Hiring Program provides funding directly to law enforcement agencies to increase their community policing capacity and crime prevention efforts. This amendment was voted down by Senate Republicans. Watch Senator Luján’s floor speech HERE.
    Putting Food on the Table
    Millions of families across the country rely on nutrition assistance programs. Senator Luján introduced an amendment to protect funding for programs that make sure New Mexico families and children have the nutritious food they need. Watch Senator Luján’s floor speech HERE.
    Stopping the Flow of Fentanyl 
    As the fentanyl crisis devastates families in New Mexico and across the country, Senator Luján introduced an amendment addressing the need to have 100% screening using non-intrusive inspection technology to stop fentanyl and illicit activity from entering the U.S.
    Boosting U.S. Manufacturing 
    Senator Luján is committed to boosting domestic manufacturing and good jobs for New Mexicans. To create more American jobs, Senator Luján introduced an amendment to provide greater incentives for companies to manufacture right here at home unlike the first Trump Tax Scam that drove jobs overseas. 
    Protecting Medicare and Medicaid
    Republicans want to fund tax breaks for the wealthy and corporations by ripping health care away from Americans on Medicaid. New Mexico has the most Medicaid recipients per capita than any other state, and millions of children and pregnant women across the country rely on Medicaid to access health care. Senator Luján introduced an amendment to strengthen Medicaid for pregnant women and children under five years old. Senator Luján also co-led an amendment to ensure there is no reduction in benefits for people with Medicare and Medicaid. 
    Protecting Veterans’ Sensitive Data
    Senator Luján introduced an amendment to protect the sensitive, private information of veterans from being accessed by private companies including those owned by Elon Musk.
    Supporting Firefighters
    As New Mexico and Western states have been devastated by wildfires in recent years and months, Senator Luján co-led an amendment highlighting the vital role firefighters play in fighting wildland fires in the wake of the Trump administration’s hiring freeze and firings of federal firefighters.
    Supporting our National Parks, Forests, and Wildlife
    As federal employees at the Forest Service, National Park Service, United State Fish and Wildlife Service, and Bureau of Land Management have been recklessly fired in recent weeks, Senator Luján co-led an amendment highlighting the importance of reinstating these fired federal employees.
    Additionally, Senator Luján introduced 34 amendments that boost safety, lower everyday costs, fund critical health care programs, and improve disaster relief. 

    MIL OSI USA News –

  • MIL-OSI United Nations: Nearly 148,000 in Gaza receive cash aid

    Source: United Nations 2

    Humanitarian Aid

    Aid operations in the Gaza Strip continue to reach people from north to south with critical assistance, including cash, the UN humanitarian affairs office, OCHA, said on Friday. 

    Since the ceasefire on 19 January, some 138,000 Palestinians have benefited from cash assistance, including people with disabilities and pregnant and breastfeeding women.

    The UN Children’s Fund (UNICEF) reported that market conditions across Gaza have improved since the ceasefire took effect. Goods are reportedly less expensive, and more commodities are available. 

    Diet diversity improving

    Furthermore, for the first time since July, children under age five and pregnant and breastfeeding women have a more diverse diet. They are consuming more fruit, vegetables, eggs and dairy products.                                                                    

    Humanitarians also continue to provide shelter support to people in Gaza, with the UN Palestine refugee agency, UNRWA, distributing tents, tarpaulins, blankets, mattresses, clothes and kitchen items to thousands of families hosted in 120 shelters. 

    West Bank hostilities

    Meanwhile, OCHA remains concerned by Israeli forces’ ongoing operations in the northern part of the West Bank which began on 21 January,  the longest there since the early 2000s. 

    OCHA warned that settler violence also continues. Between 11 and 17 February, the agency documented 34 incidents – an average of almost five per day – involving settlers and resulting in casualties or property damage. 

    In one incident, Israeli settlers severed agricultural water pipes in the Tulkarm governorate, affecting the livelihoods of a dozen Palestinian farmers. 

    During the same period, nearly 40 Palestinians were displaced near Al Maniya village in Bethlehem following recurrent attacks from Israeli settlers over the past year.   

    Access restrictions imposed by Israeli authorities continue to hinder Palestinians’ movement, affecting access to markets, workplaces, emergency services and health and educational facilities.

    OCHA has documented the displacement of almost 2,300 Palestinians, including 1,100 children, across the West Bank since the start of 2023 due to heightened settler violence and access restrictions by Israeli authorities. 

    In other developments:

    Ensure return of human remains

    UN Spokesperson Stéphane Dujarric said the Secretary-General is deeply concerned by reports that the remains of an Israeli hostage in Gaza, Shiri Bibas, which were due to be returned on Thursday alongside her children’s remains, are still missing.

    The Secretary-General “stresses the imperative to respect the dignity of the deceased and to ensure their remains are returned to their families in accordance with international humanitarian law and human rights law,” he said.

    He underlined that every release must be carried out with the utmost dignity and in line with humanitarian principles.

    The Secretary-General renewed his appeal to the parties to abide by all their commitments and continue the full implementation of the ceasefire and hostage release deal.

    MIL OSI United Nations News –

  • MIL-OSI USA: Israeli Freight Forwarder Sentenced to Two Years in Prison for Violating Export Restrictions Imposed on Russia

    Source: US Justice – Antitrust Division

    Headline: Israeli Freight Forwarder Sentenced to Two Years in Prison for Violating Export Restrictions Imposed on Russia

    Gal Haimovich, 49, of Israel, was sentenced today to 24 months in prison and three years of supervised release for conspiracy to illegally ship aircraft parts and avionics from U.S. manufacturers and suppliers to Russia, including for the benefit of sanctioned Russian airline companies. In addition, Haimovich paid the full forfeiture amount of $2,024,435.44 at today’s sentencing.

    MIL OSI USA News –

  • MIL-OSI Security: Israeli Freight Forwarder Sentenced to Two Years in Prison for Violating Export Restrictions Imposed on Russia

    Source: United States Attorneys General

    Gal Haimovich, 49, of Israel, was sentenced today to 24 months in prison and three years of supervised release for conspiracy to illegally ship aircraft parts and avionics from U.S. manufacturers and suppliers to Russia, including for the benefit of sanctioned Russian airline companies. In addition, Haimovich paid the full forfeiture amount of $2,024,435.44 at today’s sentencing.

    As part of his plea agreement, Haimovich admitted that his scheme involved deceiving U.S. companies about the true destination of the goods at issue, and that the defendant and others attempted to conceal the scheme by submitting false information in export documents filed with the U.S. government.

    According to court documents, Haimovich owned an international freight forwarding company that was an affiliate in a group of companies that did business in various countries, including the United States and Israel. Haimovich, through those companies, operated as a freight forwarder of choice for individuals and entities seeking to illegally export goods to Russia in violation of U.S. export control laws. Between approximately March 2022 and May 2023, Haimovich facilitated the export of aircraft parts and avionics, including those with missile technology applications, from the United States through the Southern District of Florida, to various third-party transhippers on behalf of Russian customers. These Russian-end customers routinely instructed Haimovich to deceive the U.S.-based manufacturers and suppliers about the ultimate destination of the goods.

    For example, between April 2022 and April 2023, after the United States imposed additional restrictions on the export of goods to Russia in response to the country’s full-scale invasion of Ukraine, Haimovich arranged for more than 160 shipments to companies in the Maldives and United Arab Emirates that were responsible for the illicit transshipment of the goods to Russia. One such shipment, of an air data module, occurred in August 2022. Haimovich, who had been hired by Siberia Airlines (doing business as S7 Airlines) to deliver the aircraft component to Russia, directed a co-conspirator to falsely inform the U.S. supplier that the part was destined for the Maldives; in fact, Haimovich knew that the part was destined for Russia for the benefit of S7 Airlines.

    Haimovich also agreed that, between March 2022 and May 2023, he billed Russian customers, including Siberia Airlines (doing business as S7 Airlines), more than two million dollars to have aircraft parts and avionics illegally exported from the United States to Russia. In connection with Haimovich’s plea, he agreed to the entry of a forfeiture money judgment in the sum of $2,024,435 and to forfeit various aircraft parts and components.

    Sue Bai, head of the Justice Department’s National Security Division, Assistant Secretary for Export Enforcement Kevin J. Kurland of the Department of Commerce’s Office of Export Enforcement, Bureau of Industry and Security (BIS), U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida, and Assistant Director Kevin Vorndran of the FBI’s Counterintelligence Division made the announcement.

    BIS and FBI investigated the case.

    Trial Attorney Christopher M. Rigali of the National Security Division’s Counterintelligence and Export Control Section and Assistant U.S. Attorney Christopher Browne for the Southern District of Florida are prosecuting the case. Assistant U.S. Attorney Joshua Paster for the Southern District of Florida handled the asset forfeiture component of the case.

    MIL Security OSI –

  • MIL-OSI USA: Enhancing Computing Power for the Public Good

    Source: US State of New York

    Governor Kathy Hochul today announced further details of her proposal to expand New York’s first-in-the-nation Empire AI Consortium. The Governor’s FY26 Executive Budget includes $90 million in capital funding to substantially increase the computing power of Empire AI, expand access for SUNY researchers, and support the addition of new members including the University of Rochester, the Rochester Institute of Technology, and the Icahn School of Medicine at Mount Sinai. The proposal will be matched by $50 million in private funding from new members and $25 million in SUNY operating funding over ten years. This investment will make the Empire AI supercomputer more powerful, leading to more research for the public good being done faster and more efficiently compared with currently available computing power.

    “The United States is in a race with China and the rest of the world in the global AI revolution, and with our first-in-the-nation Empire AI Consortium, New York is leading the way in research and innovation,” Governor Hochul said. “With Empire AI, we are setting the standard for harnessing the power of AI for the public good and ultimately creating a better future for New Yorkers.”

    Last year, Governor Hochul reached historic agreement with the state legislature as part of the FY25 Budget to establish Empire AI, a first-of-its-kind independent consortium to secure New York’s place at the forefront of artificial intelligence research. The consortium will leverage a $275 million state investment to create and launch a state-of-the-art artificial intelligence computing center on the University at Buffalo’s campus. The center will be used by leading New York institutions to promote responsible research and development, create jobs and advance AI for the public good. The founding members of Empire AI include SUNY, CUNY, Columbia University, Cornell University, New York University, Rensselaer Polytechnic Institute, and the Flatiron Institute.

    In October 2024, only six months after Budget enactment, Governor Hochul launched the first phase of Empire AI thanks to a philanthropic contribution from the Simons Foundation. Housed at the University at Buffalo, the Empire AI Alpha system is operating at maximum capacity and has allowed over 200 researchers across the seven founding members to begin work aimed at addressing major societal challenges.

    Researchers are already using Empire AI to conduct groundbreaking research, from medical breakthroughs in treating cancer to making better weather predictions, which will make life better for everyday New Yorkers. Current projects include:

    • Developing technologies that could provide adaptive speech and language therapies to children with special needs.
    • Building models of the climate, which can help communities prepare for future impact of extreme weather events.
    • Building models to help analyze CT scans to better diagnose and treat lung cancer.

    Now, Governor Hochul’s proposed expansion will allow Empire AI to secure a future full-scale computing system that supports expanded capacity for SUNY and the addition of new members. The proposed new members of Empire AI consortium include:

    • University of Rochester, a leading research university and the largest health care system in Upstate New York, will vastly improve AI-powered medical research and give consortium researchers unparalleled access to medical technologies and information.
    • Rochester Institute of Technology, which announced the formation of its Artificial Intelligence Hub last August, has proven to be a nationwide leader developing AI solutions for teaching and learning. By joining the consortium, they are contributing academic and strategic power to Empire AI’s member schools and researchers.
    • Icahn School of Medicine at Mount Sinai, one of the top medical schools in the country, the first medical school to establish a Department of Artificial Intelligence (the Windreich Department of AI and Human Health) and is ranked as number 1 in AI according to Nature AI Index, has expressed intent to join the Empire AI consortium. The School will work collaboratively with the other healthcare and public health partners to accelerate health AI research with a focus on translation, aimed at improving New York’s health care and public health infrastructure.
    • SUNY will double its participation in Empire AI’s consortium, allowing more researchers and students from SUNY’s most research-intensive campuses to access the world-class computing power.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Thanks to Governor Hochul’s vision and commitment, New York State is a clear leader in harnessing the power of AI – one of the most revolutionary technologies of this century – to improve people’s lives and promote the public good. ESD is proud of its pioneering part in its effort, and eager to work with the expanded consortium, to not only leverage AI to tackle society’s most vexing challenges, but also cultivate New York’s AI ecosystem, which will create quality jobs, attract additional investments, and further grow the state’s economy.”

    SUNY Chancellor John B. King Jr. said, “Thanks to Governor Hochul, New York State is leading the nation in the use of artificial intelligence to advance the public good. SUNY’s world-class researchers are already accelerating groundbreaking work on climate change, curing diseases, and civic discourse thanks to Empire AI, and Governor Hochul’s budget proposal will help SUNY and other higher education institutions conduct research that strengthens our economic well-being and national security.”

    Empire AI Interim Executive Director Robert Harrison said, “Empire AI is advancing research in public health, environmental science, computing and countless other areas, and we’re doing it at a scale and pace that would have been unthinkable even a few short months ago. This is only possible because of Governor Hochul’s leadership and the legislature’s vision to partner with some of the state’s leading research institutions and invest in New York’s computing capabilities. And thanks to Governor Hochul, we now have the opportunity to do even more, adding new members and increasing our research capabilities to cement New York as the national leader in AI research for the public good.”

    Rochester Institute of Technology Research Vice President Ryne Raffaelle said, “Joining Empire AI would strengthen our commitment to leading the way in the higher education artificial intelligence space. Our researchers would have unique opportunities to access cutting-edge equipment, connect with other thought leaders, and engage students in work related to responsible artificial intelligence. This partnership would be valuable for our university and would escalate our state as a national leader in this area.”

    University of Rochester Research Vice President Steve Dewhurst said, “AI is rapidly changing our lives in fundamental and profound ways. That’s why we would be so excited to join Empire AI to leverage our incredible assets and strengths in AI and supercomputing. In partnership with our state’s leading experts, we could enhance how we learn, discover, heal, and create, while harnessing our collective strengths to best position New York to lead and benefit from this technology. I am grateful to Governor Hochul for her leadership and vision in creating this innovative collaboration and look forward to working with our partners when it passes in the Budget.”

    Nash Family Professor of Neuroscience Director, The Friedman Brain Institute Dean for Academic Affairs, Icahn School of Medicine at Mount Sinai Chief Scientific Officer, Mount Sinai Health System Dr. Eric Nestler said, “Joining Empire AI would ensure that we remain at the forefront of AI innovation and progress — where AI-driven insights enhance diagnosis, personalize treatments, and revolutionize research and practice. Together, we and members of this consortium would harness the power of AI technology to improve patient health, drive medical breakthroughs, and shape the future of healthcare.”

    State Senator Jeremy Cooney said, “The Rochester region is fortunate to have nationally renowned universities on the cutting edge of technological research like Rochester Institute of Technology and University of Rochester. Today’s announcement from Governor Hochul that these institutions will be bringing their expertise to the Empire AI consortium is a win for our universities, their students, and our area as a whole. With the inclusion of RIT and University of Rochester, area researchers will be leading the way on AI innovation and helping to establish New York on the forefront of this vital work.”

    Assemblymember Harry B. Bronson said, “Congratulations to the Rochester Institute of Technology and the University of Rochester on their intention to join Empire AI consortium. This collaboration will connect the Rochester region to the world-class talent and cutting-edge technologies needed to prepare the workforce of today and tomorrow, and ensure these universities continue to lead the way in pioneering technological advancements. As Chair of Labor, I recognize that this initiative is critical to growing our economy by guaranteeing we have the expertise and qualified workforce required for nation-leading research and education.”

    Expanding Artificial Intelligence Across New York State
    Access to the computing resources that power AI systems is prohibitively expensive and difficult to obtain. These resources are increasingly concentrated in the hands of large technology companies and other global competitors, who maintain outsized control of the AI development ecosystem. As a result, researchers, public interest organizations, and small companies are being left behind, which has enormous implications for AI safety and society at large. Empire AI is bridging this gap and accelerating the development of AI centered in the public interest for New York State. Enabling this pioneering AI research and development is also helping educational institutions nurture the next generation of talent that will create AI-focused technology startups, driving job growth.

    By increasing collaboration between New York State’s world-class research institutions, Empire AI is creating efficiencies of scale not achievable by any single university, empowering and attracting top notch faculty, expanding educational opportunity, and enabling responsible innovation that will significantly strengthen our state’s economy and our national security.
    The initiative is currently funded by over $400 million in public and private investment, including a $250 million State capital grant investment and $25 million over ten years in SUNY operating funding. The project will also receive more than $125 million from the founding institutions and other private partners, including the Simons Foundation, whose Flatiron Institute works to advance research through computational methods, and Tom Secunda, co-founder of Bloomberg LP and the Secunda Family Foundation, which provides millions of dollars a year in grants to conservation, health care, scientific advancement and other causes.

    Governor Hochul’s Innovation Agenda
    Governor Hochul’s commitment to advancing New York’s leadership in artificial intelligence builds on her broader agenda to expand cutting-edge technology development in the Empire State. Last year, Governor Hochul announced that IBM CEO Arvind Krishna and Girls Who Code CEO Dr. Tarika Barrett would co-chair the new Emerging Technology Advisory Board (the Board) — an independent group of industry leaders tasked with informing and accelerating New York’s transformation into a hub for growth and innovation. The Board released their initial recommendations in December 2024.

    The Governor previously signed New York’s historic Green CHIPS legislation to drive semiconductor research, development, and manufacturing in New York State and announced a $10 billion partnership to bring next-generation chips research to NY CREATES’ Albany NanoTech Complex. The Governor has continued to advance a $620 million Life Science Initiative to support innovation in biomedical research. And through strategic investments like the $113.7 million Battery-NY initiative, Governor Hochul has fueled the growth of the sustainability, green technology and energy storage economies in New York State.

    The Governor’s innovation agenda has catalyzed major public and private investments, transforming New York’s economy and creating good-paying jobs of the future. GlobalFoundries recently announced an $11.6 billion investment to expand its chip manufacturing campus in New York’s Capital Region, creating 1,500 direct jobs and thousands of indirect jobs. In 2022, Micron announced a 20-year, $100 billion investment to create a megafab campus in Central New York, creating 50,000 new direct and indirect jobs and unlocking hundreds of millions of dollars in community benefits.

    MIL OSI USA News –

  • MIL-OSI: Lendmark Financial Services Expands Georgia Presence with Grayson Branch, Marking its Fifth Branch Opening in 2025

    Source: GlobeNewswire (MIL-OSI)

    GRAYSON, Ga., Feb. 21, 2025 (GLOBE NEWSWIRE) — Lendmark Financial Services (Lendmark), a leading provider of household credit and consumer loan solutions, continues to expand its Georgia footprint, opening a new branch in Grayson and its 53rd in the state.

    The branch is located at 1950 Grayson HWY, Suite 130 and is expected to serve hundreds of customers in its first year. Amber Cotton, who serves as the branch manager, will be responsible for the administration of all daily operations. These include building personal relationships with customers and integrating into the community to ensure area residents receive a superior level of individualized loan services that meet their unique financial needs.

    “Our very first Lendmark branch opened in Georgia in 1996 and 29 years later we are still expanding right where we started. Continued growth in Georgia shows the tremendous impact we make by focusing on delivering the tailored loan solutions our customers need to meet planned and unplanned life events,” said Jerry Sharp, Vice President of Branch Operations at Lendmark. “Our Georgia branch openings and overall branch growth demonstrate an ongoing need for diverse household financial options for consumers here and throughout the country.”

    In addition to serving consumers directly, Lendmark provides financing solutions for thousands of retailers and independent auto dealerships, allowing these businesses’ customers to obtain Lendmark financing. Local businesses that are interested in partnering with Lendmark to provide financing solutions for their customers should visit the branch or call 470-226-3828.

    Lendmark’s ‘Climb to Cure’ is its signature cause-related initiative. The company has committed to raising $10 million by 2025 to mark its 10-year anniversary partnering with CURE Childhood Cancer. So far, Lendmark’s employees, partners and customers have raised $8.83 million to support CURE, an Atlanta-based nonprofit dedicated to funding targeted pediatric cancer research that is utilized nationwide.

    Lendmark customers can participate by donating $1 when closing their loan. Lendmark matches the donation.

    About Lendmark Financial Services
    Lendmark Financial Services (Lendmark) provides personal and household credit and loan solutions to consumers. Founded in 1996, Lendmark strives to be the lender, employer, and partner of choice by protecting household wealth, offering stability and helping consumers meet both planned and unplanned life events through affordable loan offerings. Today, Lendmark operates more than 515 branches in 22 states across the country, providing personalized services to customers and retail business partners with every transaction. Lendmark is headquartered in Lawrenceville, Ga. For more information, visit www.lendmarkfinancial.com.

    Media Contact
    Jeff Hamilton
    Senior Manager, Corporate Communications
    jhamilton@lendmarkfinancial.com
    678-625-3128

    The MIL Network –

  • MIL-OSI USA: Boston Globe: As Cerberus CEO faces Senate confirmation for Trump post, Warren seeks answers on Steward

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 18, 2025

    The chief executive of the private equity group that yielded a roughly $800 million profit from its investment in Steward Health Care is set to face the US Senate soon in his bid to serve as a top official at the Pentagon, and his company’s involvement in the now-troubled hospital chain is drawing scrutiny.

    The extent of Cerberus Capital Management chief executive Stephen Feinberg’s involvement with Steward were among the questions Senator Elizabeth Warren posed in a letter sent Monday night ahead of his upcoming confirmation hearing. The letter includes dozens of concerns the Massachusetts Democrat has over the billionaire’s nomination as deputy defense secretary.

    “Cerberus, under your leadership, has exemplified the concerns that I have long had about private equity firms: that its focus on debt-fueled acquisitions, managed for the short-term and for the benefit of insider executives, ultimately leaves the companies it acquires as hollowed-out shells and hurts workers, customers, and communities,” Warren wrote in the letter shared with The Boston Globe.

    Steward is listed as one of several companies Warren says Cerberus invested in that later went bankrupt or struggled financially, including Chrysler, gun maker Remington, defense contractor DynCorp, and grocery chain Albertsons.

    …

    Read the full article here.

    By:  Tal Kopan
    Source: Boston Globe

    MIL OSI USA News –

  • MIL-OSI USA: In All-Night Senate Floor Fight, Cantwell Votes NO on Republican Tax Giveaways to Ultra-Rich, YES on Lower Costs for Working Families

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    02.21.25

    In All-Night Senate Floor Fight, Cantwell Votes NO on Republican Tax Giveaways to Ultra-Rich, YES on Lower Costs for Working Families

    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation, and senior member of the Senate Finance Committee, released this statement following Senate passage of a Republican-led budget resolution, after votes on 30 Democratic amendments.

    “Tonight, Senate Republicans voted to give $4 trillion in tax cuts to corporations and the ultra-rich while failing to protect programs like Medicare and Medicaid,” said Sen. Cantwell. “Republicans voted ‘no’ on our efforts to make housing more affordable, and they rejected efforts to reduce grocery prices. This is the fifth week of the Trump Administration. He is not doing enough to lower the cost of everyday goods for working families and neither will this Republican budget plan.”

    The budget resolution passed 52-48. Senate Republicans now have to hammer out their differences with the budget approach the House is slated to consider, likely next week.

    Before passage, the Senate voted on 30 Democratic amendments to improve the bill, including:

    • An amendment to prioritize the needs of working families first and prohibit tax cuts for people making $1 billion or more. Failed 47-51. Cantwell voted YES.
    • An amendment to prevent giving tax cuts for the wealthy while food prices are still high. Failed 48-52. Cantwell voted YES.
    • An amendment to protect Medicaid and prohibit providing tax cuts for the ultra-rich if any cuts are made to Medicaid. Failed 49-51. Cantwell voted YES.
    • An amendment to make housing more affordable. Failed 47-53. Cantwell voted YES.

    Republicans voted all of these and dozens more Democratic amendments down.

    MIL OSI USA News –

  • MIL-OSI Russia: Financial news: The All-Russian online Olympiad on financial literacy and entrepreneurship for schoolchildren will begin on March 4

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The Olympiad has been held for five years in a row, and this year, for the first time, students in grades 10–11 will be able to join in. You can take part any day up to and including April 3 on the educational platform Uchi.ru.

    Schoolchildren will learn how to plan a budget, assess risks, and resist fraudulent schemes. They will also try themselves in the role of entrepreneurs — they will analyze input data, forecast demand, and manage resources in their own project to increase profits. The tasks are adapted for all age groups: primary school students will get acquainted with the basic concepts and principles of financial literacy, and high school students will work out scenarios with changing conditions.

    The Olympiad will open with an online lesson by Vadim Uvarov, Director of the Information Security Department of the Bank of Russia, “Droppers: How to Avoid Fraudsters.” The broadcast will take place on March 4 at 9:30 Moscow time and will be available onevent page, in the personal accounts of users on the platform Uchi.ru, as well as in the official community of the Bank of Russia inVKontakte, where participants will be able to ask questions to the speaker.

    “Fraudsters are increasingly involving teenagers in their schemes, mainly via the Internet under the pretext of easy money. During the lesson, I will talk about common traps that criminals lure young people into. We will talk about what droppering is and what the risks are. The lesson will also be useful for parents: I will give some practical advice on how to help a child avoid becoming an accomplice to financial crimes,” Vadim Uvarov noted.

    To participate, you must register. on the website or log in using your login and password from Uchi.ru. Depending on the result, participants will receive a certificate, diploma or diploma, and teachers will receive letters of thanks.

    The Olympiad is organized by the ANO National Priorities, the Bank of Russia, the Ministry of Finance of Russia, the Ministry of Economic Development of Russia and the educational platform Uchi.ru in accordance with the goals and objectives of the national project Effective and Competitive Economy. The event will be held with the support of the all-Russian public and state movement of children and youth Movement of the First.

    Interest in the Olympiad is constantly growing: in 2021, 800 thousand schoolchildren joined it, in 2024 – more than 2.3 million.

    Preview photo: Wavebreakmedia / Shutterstock / Fotodom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23393

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Reclassification of mutual funds: conditions of the Bank of Russia

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Mutual investment funds (PIF) will have the right to change their status from “qual” to “non-qual” if they meet certain conditions. They are spelled out indraft instructions of the Bank of Russia, which is published for public comment.

    This opportunity will become available on March 1, 2026, and will be relevant primarily for those funds that were focused on riskier assets only at the initial stage.

    In order to undergo requalification, the management company, in particular, will need to amend the rules of trust management so that units are now available to non-qualified investors, and also adapt the composition and structure of the fund to new shareholders. By the time the documents, including the adjusted rules, are sent to the Bank of Russia for registration, all units must be paid in full, and there should be no restrictions or grounds for termination of the mutual fund itself.

    The change of status will allow qualified investors to exit the project after the completion of its risky stage, for example, after the commissioning of the constructed shopping center, while non-qualified investors will be able to receive regular income from renting out the constructed facility.

    Comments and suggestions regarding the draft instruction can be sent to the Bank of Russia up to and including March 7, 2025.

    Preview photo: Andrei Stepanov / Shutterstock / Fotodom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23395

    MIL OSI Russia News –

  • MIL-OSI: Lendmark Financial Services Expands North Carolina Presence with Laurinburg Branch, Marking its 4th Branch Opening in 2025

    Source: GlobeNewswire (MIL-OSI)

    LAURINBURG, N.C., Feb. 21, 2025 (GLOBE NEWSWIRE) — Lendmark Financial Services (Lendmark), a leading provider of household credit and consumer loan solutions, continues to expand its North Carolina footprint, opening a new branch in Laurinburg and its 64th in the state.

    The branch is located at 929 S 401 Bypass Hwy, and is expected to serve hundreds of customers in its first year. Domonic Davis, who serves as the branch manager, will be responsible for the administration of all daily operations. These include building personal relationships with customers and integrating into the community to ensure area residents receive a superior level of individualized loan services that meet their unique financial needs.

    “As we grow our footprint in North Carolina, we will continue to focus on delivering the tailored loan solutions our customers need to meet planned and unplanned life events,” said Chad DeBoard, Vice President of Branch Operations at Lendmark. “With over 60 branches in North Carolina and more slated to open, our continued growth demonstrates an ongoing need for diverse household financial options for consumers here and throughout the country.”

    In addition to serving consumers directly, Lendmark provides financing solutions for thousands of retailers and independent auto dealerships, allowing these businesses’ customers to obtain Lendmark financing. Local businesses that are interested in partnering with Lendmark to provide financing solutions for their customers should visit the branch or call 225-453-0987.

    Lendmark’s ‘Climb to Cure’ is its signature cause-related initiative. The company has committed to raising $10 million by 2025 to mark its 10-year anniversary partnering with CURE Childhood Cancer. So far, Lendmark’s employees, partners and customers have raised $8.83 million to support CURE, an Atlanta-based nonprofit dedicated to funding targeted pediatric cancer research that is utilized nationwide.

    About Lendmark Financial Services
    Lendmark Financial Services (Lendmark) provides personal and household credit and loan solutions to consumers. Founded in 1996, Lendmark strives to be the lender, employer, and partner of choice by protecting household wealth, offering stability and helping consumers meet both planned and unplanned life events through affordable loan offerings. Today, Lendmark operates more than 515 branches in 22 states across the country, providing personalized services to customers and retail business partners with every transaction. Lendmark is headquartered in Lawrenceville, Ga. For more information, visit www.lendmarkfinancial.com.

    Media Contact
    Jeff Hamilton
    Senior Manager, Corporate Communications
    jhamilton@lendmarkfinancial.com
    678-625-3128

    The MIL Network –

  • MIL-OSI Russia: Financial News: One Million Retail Investors Became Shareholders in Money Market ETFs in a Year

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    On February 20, 2025, Moscow Exchange held a conference “The Collective Investment Market – from the First Trillion to a Place in Every Investor’s Portfolio”. The event was timed to coincide with the fifth anniversary of the start of trading in units of exchange-traded mutual investment funds (EMIF) of the money market.

    The event discussed the current state and development prospects of the collective investment market as a whole and one of its flagship products – money market exchange-traded funds. Participants reviewed and assessed the market from different angles: regulatory, client and commercial – and during the discussions outlined the main trends in the industry and investors’ expectations.

    As of February 1, 2025, the number of investors who invested in money market funds on the Moscow Exchange approached 1.4 million people. Thus, over the year, one million private investors became shareholders.

    Trading in the first money market mutual fund started on the Moscow Exchange stock market on January 20, 2020. Today, investors have access to 16 money market mutual funds (13 ruble and 3 yuan), 10 of which were launched in 2024. Money market funds account for 85% of the total net asset value of all mutual funds (more than 1 trillion rubles in absolute terms as of February 1 of this year) and 83% of the total trading turnover in mutual funds.

    Viktor Zhidkov, Chairman of the Board of Moscow Exchange:

    “The Russian collective investment industry is still relatively young and is in the stage of active growth, the significant potential of which is embedded in the retail segment. Collective investment mechanisms contribute to the best implementation of this potential, and Moscow Exchange is interested in their further development and distribution. Funds, primarily exchange-traded funds, are the instrument with which one should begin to get acquainted with the financial market and which should find a place in the portfolio of every investor. We welcome the efforts of management companies to develop new mutual funds and are always ready to meet market participants halfway, both by creating new benchmarks for them and by helping to solve problems that arise when launching exchange trading in units. We congratulate the industry on its anniversary and wish it stable growth rates, new products and grateful investors.”

    At the end of the conference, a ceremonial award ceremony was held for management companies – market leaders with the largest money market funds by net asset value:

    UK VIM Investments for the mutual fund “Liquidity” with assets of 379.6 billion rubles; UK Pervaya for the mutual fund “Pervaya – Savings Fund” with assets of 227.6 billion rubles; UK Alfa-Capital for the mutual fund “Alfa-Capital Money Market” with assets of 210.5 billion rubles.

    Also awarded were the money market fund managers of UK BrokerCreditService, UK AAA Capital Management, Finam Management, UK Promsvyaz, UK Sistema Capital, Finstar Capital, AK Bars Capital, UK DOKHOD and T-Capital.

    There are currently 80 mutual funds on the Moscow Exchange. As of the end of 2024, the number of shareholders in exchange-traded funds was 6.2 million, of which 3.8 million made at least one transaction per month on average.

    The Moscow Exchange Money Market is one of the most important segments of the Russian financial market, with the help of which both large corporations and small companies and individual investors manage their monetary liquidity. The list of money market instruments includes repo with the Central Credit Union, repo with the Central Credit Union, repo with the Bank of Russia, interdealer repo, deposits with the Central Credit Union, loans, as well as deposit and loan auctions. The Moscow Exchange acts as the organizer of trades, clearing and settlements are carried out by the National Clearing Center (NCC, part of the Moscow Exchange Group).

    Contact information for media 7 (495) 363-3232Pr@moex.kom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News –

  • MIL-OSI Canada: Prime Minister announces changes to the parliamentary secretary team

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today announced changes to the parliamentary secretary team.

    In their new roles, the parliamentary secretaries will support their respective cabinet ministers to make progress on the priorities that matter most to Canadians. They will engage directly with Canadians on key initiatives and represent the government at home and abroad. Their appointments are effective immediately.

    The changes to the parliamentary secretary team are as follows:

    • Vance Badawey becomes Parliamentary Secretary to the Minister of Transport and Internal Trade
    • Jaime Battiste becomes Parliamentary Secretary to the Minister of Crown-Indigenous Relations and Northern Affairs and Minister responsible for the Canadian Northern Economic Development Agency
    • Chris Bittle becomes Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities and Parliamentary Secretary to the Minister of Families, Children and Social Development
    • Mike Kelloway becomes Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Parliamentary Secretary to the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency
    • Irek Kusmierczyk becomes Parliamentary Secretary to the Minister of Employment, Workforce Development and Labour and Parliamentary Secretary to the Minister of Seniors
    • Bryan May becomes Parliamentary Secretary to the Prime Minister
    • Yasir Naqvi becomes Parliamentary Secretary to the Minister of Health and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health
    • Taleeb Noormohamed becomes Parliamentary Secretary to the Minister of Finance and Intergovernmental Affairs (Canada-U.S.)
    • Jennifer O’Connell becomes Parliamentary Secretary to the Minister of Public Safety (Cybersecurity)
    • Marc G. Serré becomes Parliamentary Secretary to the Minister of Energy and Natural Resources
    • Terry Sheehan becomes Parliamentary Secretary to the Minister of Indigenous Services and Minister responsible for the Federal Economic Development Agency for Northern Ontario
    • Ryan Turnbull becomes Parliamentary Secretary to the Minister of Finance and Intergovernmental Affairs and Parliamentary Secretary to the Minister of Innovation, Science and Industry
    • Adam van Koeverden becomes Parliamentary Secretary to the Minister of Environment and Climate Change and Parliamentary Secretary to the Minister of Sport and Minister responsible for Prairies Economic Development Canada

    The Prime Minister also welcomed the following new members to the parliamentary secretary team:

    • Kody Blois becomes Parliamentary Secretary to the Minister of Agriculture and Agri-Food and Parliamentary Secretary to the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency
    • Julie Dzerowicz becomes Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs and Latin America)
    • Arielle Kayabaga becomes Parliamentary Secretary to the Minister of Small Business
    • Viviane Lapointe becomes Parliamentary Secretary to the Minister of Official Languages and Associate Minister of Public Safety
    • Tim Louis becomes Parliamentary Secretary to the Minister of Canadian Heritage
    • Francesco Sorbara becomes Parliamentary Secretary to the Minister of Finance and Intergovernmental Affairs

    These new parliamentary secretaries will work to deliver real, positive change for Canadians. They join the following parliamentary secretaries remaining in their portfolio:

    • Paul Chiang, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship
    • Julie Dabrusin, Parliamentary Secretary to the Minister of Environment and Climate Change and Parliamentary Secretary to the Minister of Energy and Natural Resources
    • Peter Fragiskatos, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities
    • Lisa Hepfner, Parliamentary Secretary to the Minister for Women and Gender Equality and Youth
    • Anthony Housefather, Parliamentary Secretary to the President of the Treasury Board
    • Iqra Khalid, Parliamentary Secretary to the Minister of National Revenue
    • Annie Koutrakis, Parliamentary Secretary to the Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec
    • Marie-France Lalonde, Parliamentary Secretary to the Minister of National Defence
    • Kevin Lamoureux, Parliamentary Secretary to the Leader of the Government in the House of Commons
    • Stéphane Lauzon, Parliamentary Secretary to the Minister of Citizens’ Services
    • James Maloney, Parliamentary Secretary to the Minister of Justice and Attorney General of Canada
    • Rob Oliphant, Parliamentary Secretary to the Minister of Foreign Affairs
    • Sherry Romanado, Parliamentary Secretary to the President of the King’s Privy Council for Canada and Minister of Emergency Preparedness 
    • Randeep Sarai, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence
    • Maninder Sidhu, Parliamentary Secretary to the Minister of Export Promotion, International Trade and Economic Development
    • Charles Sousa, Parliamentary Secretary to the Minister of Public Services and Procurement 
    • Anita Vandenbeld, Parliamentary Secretary to the Minister of International Development
    • Sameer Zuberi, Parliamentary Secretary to the Minister of Diversity, Inclusion and Persons with Disabilities

    Quote

    “Our government is laser-focused on the issues that matter most to you and your family. With these additions to our strong team, we will create and protect Canadian jobs, build more homes, reduce emissions, make life cost less, and defend Canadian interests.”

    Quick Facts

    • Parliamentary secretaries are chosen by the Prime Minister to assist ministers.
    • The responsibilities of parliamentary secretaries generally fall into two broad categories: House of Commons business and department-related duties.
    • Parliamentary secretaries are not members of Cabinet and do not play a formal role in the Cabinet decision-making process. They support their ministers, but overall responsibility and accountability remains with the minister.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI USA: President Pro Tempore John F. Kennedy Applauds Tort Reform Legislation Passing Senate

    Source: US State of Georgia

    ATLANTA (February 21, 2025)—Today, the Georgia Senate passed Senate Bill (SB) 68, a sweeping reform of the state’s tort laws, sponsored by Senate President Pro Tempore John F. Kennedy (R–Macon).

    “SB 68 is a major step toward reining in the excessive litigation that is driving up costs for healthcare providers, job creators, and consumers,” said Sen. Kennedy. “Since 2016, the U.S. Chamber of Commerce has estimated that litigation costs have risen 7.1% per year—far outpacing inflation. Nuclear verdicts and frivolous lawsuits cost Georgia households an average of $5,035 annually. This broken system cannot continue.”

    Sen. Kennedy continued, “The consequences of excessive litigation extend far beyond the courtroom. Because of rising litigation cost, small business owners are forced to lay off employees or shut down as their liability insurance premiums skyrocket. Pregnant women in rural areas must now travel over two hours to see an OB-GYN because local hospitals have been forced to close. When healthcare providers leave the state due to an unpredictable legal climate, entire communities suffer. It’s time to restore fairness and stability to our civil justice system, and today’s passage of SB 68 is a critical step in that direction.”

    Sen. Kennedy sponsored and carried SB 68 on behalf of Governor Brian P. Kemp, who made tort reform his top priority for the 2025 Legislative Session in his State of the State address last month.

    For more information about the legislation, read it here.

    # # # #

    Sen. John F. Kennedy serves as the President Pro Tempore of the Georgia State Senate. He represents the 18th Senate District, which includes Crawford, Monroe, Peach and Upson counties, as well as portions of Bibb and Houston counties. He may be reached at (404) 656-6578 or by email at John.Kennedy@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI NGOs: Greenpeace organizations go to trial on high-stakes SLAPP lawsuit that could redefine protest rights

    Source: Greenpeace Statement –

    430+ orgs and 330,000+ individuals support Greenpeace organizations in fight against abuse of the legal system and corporate overreach

    Mandan, North Dakota (February 21, 2025)–North Dakota is set to become the battleground for one of the most consequential free speech cases in recent history. Energy Transfer, the Big Oil corporation behind the Dakota Access Pipeline, is seeking $300 million in damages from Greenpeace USA and Greenpeace International, accusing these organizations of playing a central role in organizing the Indigenous-led resistance to the pipeline back in 2016. The lawsuit is one of the largest Strategic Lawsuits Against Public Participation (SLAPP) cases ever filed, and one of the biggest cases to go to court in North Dakota. Trial begins on February 24, 2025.

    “This case is a prime example of corporations abusing the legal system to silence critics and keep their operations secret,” said Sushma Raman, Greenpeace USA Interim Executive Director. “It is also a critical test of the future of the First Amendment – both freedom of speech and peaceful protest – under the Trump Administration and beyond. But we are fighting back, and we are not fighting back alone.”

    More than 430 organizations signed an open letter to Energy Transfer including 350.org, Public Citizen, ACLU North Dakota, SEIU, Indigenous Environmental Network, and Amnesty International USA (view full organization list) along with public figures such as Billie Eilish, Jane Fonda, Adam McKay, and Susan Sarandon – plus more than 350,000 individuals from around the world.

    The claims

    Energy Transfer’s claims against the Greenpeace entities fall into three broad categories: defamation, tortious interference, and on the ground claims. 

    The claims related to defamation allege that the Greenpeace entities made false statements, which caused damages to the company.

    “The important thing to note here is that by the time Greenpeace entities made any of these statements that are at issue, these were statements that were already widely circulated in the public,” said Deepa Padmanabha. “These were not statements that Greenpeace invented, and they were all legitimate expressions of the First Amendment protected right to speak.”

    Energy Transfer also claims that Greenpeace made alleged false statements to financial institutions involved with financing the Dakota Access Pipeline – and that based on those statements, the financial institutions took action that cost Energy Transfer hundreds of millions of dollars in damages. The financial institutions, however, had their own commitments and conducted their own due diligence regarding the Dakota Access Pipeline.

    “The last bucket of claims are related to on the ground incidents such as trespass, conversion, and aiding and abetting,” said Padmanabha. “This is the area of claims that makes it clear that Energy Transfer’s target is much bigger than Greenpeace. Beyond the impact that this could have on the Greenpeace entities, one of the most worrisome things about the case is that it could establish dangerous new legal precedents that could hold any participant at protests responsible for the actions of others at those protests – including unknown individuals. And you can imagine that this would have a serious chilling effect on anybody who wants to engage in protest.”

    “Greenpeace played an extremely limited role at Standing Rock, and is proud of showing up in solidarity with Standing Rock activists. At no time did Greenpeace engage in property destruction or violence. All claims to the contrary are a reckless disregard for the truth.”

    Fighting back against SLAPP lawsuits

    SLAPP stands for Strategic Lawsuits Against Public Participation. These types of cases masquerade as ordinary civil lawsuits, but their true purpose is to retaliate against those who speak out against harms. Such meritless lawsuits are meant to silence or bankrupt opponents by dragging defendants through a long, lengthy, expensive legal process. 

    As SLAPPs are a growing threat, most U.S. states have put legal protections in place to protect advocates. But in North Dakota – and 17 other states – no anti-SLAPP statutes exist. Last Congress, Representatives Raskin, Wyden, and Kiley introduced bipartisan legislation to deter corporations from filing SLAPP suits and to protect everyone’s right to free speech. In Europe, the European Union’s anti-SLAPP Directive entered into force in May 2024. 

    On Feb 11th, 2025, Greenpeace International initiated the first test of the EU’s new anti-SLAPP Directive by filing a lawsuit against Energy Transfer in the Netherlands.

    “Energy Transfer is attempting to hold Greenpeace International, a dutch-based nonprofit foundation accountable for hundreds of millions of dollars of alleged damages for signing on to a letter with over 500 organisations from more than 50 countries,” said Greenpeace International General Counsel Kristin Casper. “It is this, along with many more reasons, we believe Energy Transfer’s pending US$300 million suit is a contender for the award of the most blatant SLAPP anywhere in the world.”

    Big Oil companies Shell, Total, and ENI have also filed SLAPPs against Greenpeace entities in recent years. Just last year, Shell came after Greenpeace UK and Greenpeace International in a multimillion dollar lawsuit. After a quarter of a million people spoke out, the lawsuit was settled in December 2024.

    “Greenpeace has faced a long history of threats,” said Charlie Cray, Greenpeace USA Senior Strategist. “When the Rainbow Warrior ship was bombed in 1985, we said ‘you can’t sink a rainbow.’ And now we’re saying: ‘you can’t sue a movement.’ Whatever happens in North Dakota, we will continue to campaign for a green and peaceful future.”


    Partner quotes

    “The lawsuit against Greenpeace is also an attack on the Indigenous movement in our fight for self-determination to protect Mother Earth, our waters, sacred and cultural sites and our youth and future generations. These colonialist lawsuits are trying to send a warning to anyone who might consider speaking out and to be quiet – any of you could be next.” – Morgan Brings Plenty, Standing Rock Youth Council

    “The case against Greenpeace illustrates how mega-corporations can use lawsuits to silence, intimidate and ruin their critics. America must demand, and Congress must pass, bipartisan legislation to protect First Amendment rights against ruinous litigation practices.” – Rep. Jamie Raskin

    “Amnesty International USA stands steadfast with Greenpeace USA in their fight against Big Oil’s attempt to punish and silence a strong advocate for environmental rights and climate justice for its fight against the Dakota Access Pipeline. As we experience the continual warming of our planet year over year due to the burning of fossil fuels, we need Greenpeace USA now more than ever to advocate and be a strong voice for the communities most at risk from the impacts of the climate crisis, rather than defending itself against retaliatory lawfare.” – Justin Mazzola, Researcher, Amnesty International USA

    “Everyone who says they care about freedom – of whatever political stripe – should join together to support the Greenpeace campaign to protect people’s right to speak out against corporate abuses. As Greenpeace knows from its own experience, too often corporations use their political, economic and legal power not just to run PR campaigns justifying their wrongdoing, but to threaten public interest advocates with bad-faith lawsuits (SLAPPs) and other intimidation tactics.” – Robert Weissman, Co-president of Public Citizen

    “Protesters and advocacy groups should never have to fear the weight of groups like ETP [Energy Transfer Partners] as a condition for expressing their First Amendment rights. The court should see this lawsuit for what it is and toss it.” – Brian Hauss, Senior Staff Attorney, ACLU 

    “No matter how hard they try, corporate powers will never silence the voice of the people. Working alongside movement allies, we know our collective pursuit of liberation and transformative change endangers what corporations like Energy Transfer rely on: a status quo built on injustice. We know this through our year-round issue-based and electoral organizing. TOP is proud to be in solidarity with Greenpeace as it fights this shameful attempt to stifle dissent and protest.” – David Villalobos, Political Director of Texas Organizing Project (TOP)

    Contact: Madison Carter, Greenpeace USA Senior Communications Specialist, [email protected]

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

  • MIL-OSI United Kingdom: York and Yorkshire-based investigators help secure jail for plumbing fraudster who exploited vulnerable homeowners

    Source: City of York

    A man from Bolton who targeted victims across the North West has been sentenced to four years in prison at Bradford Crown Court today, after defrauding vulnerable customers out of a total of £250,000.

    Suhaib Sirajudin, 39, of Fifth Avenue, Bolton, operated as an ‘emergency plumber’ and pleaded guilty to two counts of fraudulent trading on 9 October 2024. The court heard how he took advantage of homeowners’ urgent need for a plumber by charging grossly inflated emergency callout and repair fees, frequently targeting victims who were older, vulnerable or lived alone. As well as seriously overcharging for initial works he often deliberately damaged victims’ properties in order to charge more for repairs.

    Between June 2021 and December 2022, trading as Plumbing Emergency 24/7 Limited and Expert Plumbing Limited 24/7, Mr Sirajudin advertised his services online and responded to emergency callouts from householders seeking urgent help with leaks. Mr Sirajudin would then exploit his victims, pressurising them into paying ‘extortionate’ sums for works that he completed to such a poor standard that the problem was either unresolved, or got worse.

    One older victim watched her kitchen ceiling fall in after Mr Sirajudin said a hole needed to be made in it to repair a bathroom leak. In total she and her husband, who was bedbound, paid almost £10,000 – almost all their savings. Another victim paid over £3,000 for the repair of a toilet leak that should have cost around £300. An expert said even that minor repair was not done properly.

    Another elderly couple were quoted £39,000 to repair their gas fire and boiler – which Mr Sirajudin was not qualified to do. They said Sirajudin made them feel belittled and as though they could not question the bill. They eventually paid £21,000.

    Many victims describe how Mr Sirajudin became aggressive when challenged, shouting and refusing to leave or threatening to take away new parts if payment was not made immediately. When victims or their relatives later contacted the companies to complain, their refund requests were often refused and they were cut off on the phone.

    As well as the financial losses, the emotional, mental and physical toll taken on victims has been significant, with a loss of confidence, depression and problems sleeping being among the lasting impacts of Mr Sirajudin’s crimes.

    The defendant was sentenced following an investigation by the National Trading Standards Yorkshire and Humber Regional Investigations Team, hosted by City of York Council, and the National Trading Standards eCrime Team, hosted by North Yorkshire Council.

    As well as the custodial sentence, Mr Sirajudin is also subject to a £250,000 confiscation order for victim compensation and £30,000 in prosecution costs. He will be disqualified from being a company director for 8 years.

    Cllr Jenny Kent, Executive Member with portfolio for Trading Standards at City of York Council, said:

    Mr Sirajudin intimidated and exploited people at a time when they needed emergency plumbing help, often late at night, in their own homes. Many victims were elderly or vulnerable and were charged extortionate amounts for often minor repairs which were badly done; in some cases made considerably worse. I hope they gain some small comfort from the sentencing today, and I’m very grateful for the persistence and dedication of our investigating teams here in York and North Yorkshire who worked hard to bring this case to trial.”

    Lord Michael Bichard, Chair, National Trading Standards, said:

    “With householders in desperate need of a plumber, often in the middle of the night, Mr Sirajudin was already in a position of power by the time he arrived at a caller’s home. If he saw that a customer was older, vulnerable or lived alone he took the opportunity to exploit them, leaving many feeling frightened in their own homes as well as thousands of pounds out of pocket.

    “I hope today’s sentencing provides some comfort for those involved and serves as a stark reminder that this type of callous intimidation and deceit will be investigated, and perpetrators brought to justice.

    “If you or someone you know has fallen victim to a fraud like this you should report it to the Citizens Advice consumer service helpline by calling 0808 223 1133.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Bringing 893 New Jobs to Western Colorado: Morgan Mining to Expand Manufacturing Industry in Grand Junction and Mesa County

    Source: US State of Colorado

    GRAND JUNCTION – Today, Governor Polis, the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT), and the Grand Junction Economic Partnership (GJEP) announced that Morgan Mining, a leading interdisciplinary construction, mining, engineering, and management firm, has selected Grand Junction, Colorado, for expansion. This project will grow the advanced manufacturing industry and create new, good-paying jobs in rural Colorado.

    “I’m thrilled that Morgan Mining is expanding in western Colorado, bringing 893 new good-paying jobs to Grand Junction and Mesa County. Colorado is the best place to live, work, and do business, and this exciting announcement shows that our leadership to lower costs for workers and build a strong workforce continues to attract businesses to our strong economy, strengthening our Colorado for All,” said Governor Polis.

    Morgan Mining provides specialized mining labor, production management, and mining supplies for mining operations and other ancillary services. The company plans to expand its business through additional contracts throughout the United States and has identified the need to purchase a new site and refurbished mining equipment. The new site will serve as a hub for product and material suppliers to consign substantial inventory and equipment that would provide faster delivery to end users.

    “We are excited to move forward with our expansion plans in Mesa County. We decided that creating a mining-focused hub in Mesa County provided the best economic and growth opportunities for Morgan.  From the outset of this expansion project, OEDIT and GJEP were very actively engaged with us and ultimately provided the support needed to tip the scales in favor of Mesa County.  We look forward to continuing our relationship with these entities, as well as other local leaders, as this expansion moves forward,” said Justin Morgan, President of Morgan Mining.  

    In Mesa County, Morgan Mining expects to create 893 net new jobs at an average annual wage of $92,447, or 167% of the average annual wage in Mesa County. The positions will include engineers, electricians, and finance roles.

    “We are thrilled to partner with Grand Junction Economic Partnership and support Morgan Mining’s expansion in Mesa County. When advanced manufacturing companies expand in rural Colorado, they strengthen and diversify regional communities and economies. That’s a win for western Colorado and a win for the state of Colorado,” said OEDIT Executive Director Eve Lieberman.

    “Morgan Mining’s investment into Mesa County represents a significant milestone for the regional economy. With up to 893 new jobs projected over the next eight years, this expansion provides incredible opportunities for local workforce development while reinforcing the region’s reputation for supporting industry growth. We are proud to partner with Project West Co Mining as they invest in our community’s future,” said Curtis Englehart, Executive Director for the Grand Junction Economic Partnership.

    The Colorado Economic Development Commission approved up to $10,890,875 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Morgan Mining, referred to as Project WesCo Mining throughout the OEDIT review process, meeting net new job creation and salary requirements.

    In addition to Colorado, Morgan Mining considered Tennessee for expansion. The company currently has 226 employees, 196 of whom are in Colorado.

    About Colorado Office of Economic Development and International Trade

    The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

    About the Grand Junction Economic Partnership

    The Grand Junction Economic Partnership (GJEP) works to enhance the economic vitality and quality of life in the Grand Junction area by supporting high-impact capital investment and job creation. GJEP is a single stop for businesses looking to relocate or expand in the cities of Grand Junction and Fruita, the Town of Palisade, and surrounding communities in Mesa County. Operating as a 501(c)3, GJEP offers free services that help businesses navigate incentives and opportunity zones and connect with realtors and developers, the workforce, local leadership, and more. Visit www.gjep.org for more information.

    ###

    MIL OSI USA News –

  • MIL-OSI: Carbeeza Inc. Announces Private Placement Financing

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 21, 2025 (GLOBE NEWSWIRE) — Carbeeza Inc. (“Carbeeza” or the “Company“) (TSXV:AUTO) (OTCQB: CRBAF) today announced that it intends to complete a non-brokered private placement of up to 25,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $1,250,000 (the “Offering”). Each Unit will consist of one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.15 for a period of 24 months from issuance.

    All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange approval. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

    It is anticipated that insiders of the Company will subscribe to the Offering. Participation by insiders of the Company in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the insiders’ participation in the Offering, as determined in accordance with MI 61-101, shall not exceed 25% of the Company’s market capitalization.

    Carbeeza Inc.

    Carbeeza is a Canadian-based software company whose platform is targeted to the automotive marketplace. It is the first application to harness the power of Artificial Intelligence to accurately predict the best financing scenario for consumers, all while keeping the consumer anonymous. Using state-of-the-art technology, Carbeeza brings the process of buying a car right to the phone, tailor-made for the consumer. Carbeeza is highly beneficial to both consumers and auto dealers.

    ON BEHALF OF THE BOARD OF DIRECTORS OF CARBEEZA INC.

    Sandro Torrieri, Chief Executive Officer

    Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

    For further information please contact:

    Sandro Torrieri, Chief Executive Officer

    Email: Investorrelations@carbeeza.com

    Telephone: 1-855-216-8802

    Website: www.carbeeza.com

    Notice Regarding Forward-Looking Information:

    This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

    The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

    The MIL Network –

  • MIL-OSI Africa: Afreximbank to Set up $1 Billion Oil Service Financing Facility in Guyana

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

    GEORGETOWN, Guyana, February 21, 2025/APO Group/ —

    In a significant announcement at the Guyana Energy Conference and Supply Chain Expo being held from, February 18 – 21, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), declared the multilateral Bank’s intention to establish a $1 billion oil service financing facility in Guyana. This initiative aims to enhance local participation in the country’s fast growing oil industry, in alignment with the government’s local content policies. The Bank will deploy the $1 billion facility directly to qualifying corporate clients or through a factoring line via local banks, enabling them to finance invoices from local contractors.

    President Oramah highlighted the transformative potential of Guyana’s estimated 12 billion barrels of crude oil reserves. Emphasising the transformative power in proactive resource management, he advised Guyana to aggressively harness and build capital from its oil resources.

    He said, “Given the level of oil production in Guyana and its offshore location, I estimate that the oil service sector would amount to 5 to 8 billion US dollars annually. But where will it go? Most of it would be paid to oil service companies abroad, if Guyana does nothing to avoid that. A 50% retention in Guyana would increase Guyana’s GDP by 29% to 47%.” As such, he called for robust local content policies that would enable Guyanese entrepreneurs to become significant players in the oil value chain.

    Based on Afreximbank’s rich history of supporting commodity-dependent economies, President Oramah shared insights to complement the ongoing efforts of the Guyanese government. He acknowledged the inherent risks associated with dependency on a single commodity and laid stress on the importance of diversification.

    He cautioned, “The commodity market is prone to volatility and cyclicality; hence, the reliance on crude revenues as a primary source of government funding could expose the national economy to volatile commodity markets.” As such, he advised the government to secure long-term off-take contracts with oil service companies, which will enhance market access and price stability.

    In the spirit of deepening Afri-Caribbean partnership, President Oramah remarked that skilled oil service companies from Ghana, Egypt, and South Africa, are “ready and willing to support Guyanese… And of course, Afreximbank is there to underwrite the marriage.”

    He added that: “These measures are necessary if Guyana and other new entrants in the Caribbean and Africa are to avoid the painful “Dutch Disease. We make these suggestions based on the three long decades of financing oil and gas activities across Africa. We have witnessed oil-dependent economies transform for better or worse through these periods. In all these, the difference reflected the policy choices the leaders made.”

    MIL OSI Africa –

  • MIL-OSI Canada: Trade conflict: What can the Bank of Canada do?

    Source: Bank of Canada

    We are starting our framework renewal

    Since 1995, the Bank’s framework for monetary policy has been to target 2% inflation, the midpoint of a range between 1% and 3%. The post-pandemic inflation shock tested this framework like never before. But monetary policy worked, and inflation returned to 2%.

    Canada’s economy is now facing a future rife with more frequent shocks and more structural change. That’s why we’ll be asking a few key questions as we begin the review of our framework—a process that happens every five years:

    • With more supply shocks ahead, do we need a richer playbook for how we achieve the inflation target?
    • How do we best measure underlying inflation in a more volatile world?
    • How do monetary policy and housing interact?

    The monetary policy framework has worked well for decades, so the bar for change is high. But the world economy is shifting, and the Bank must be as ready as possible for what lies ahead.

    MIL OSI Canada News –

  • MIL-OSI Canada: Tariffs, structural change and monetary policy

    Source: Bank of Canada

    What monetary policy can and cannot do

    If the economy is on a lower path and there’s upward pressure on inflation, what’s the response from monetary policy and the Bank of Canada?

    What the Bank can do is help the economy adjust. With inflation now back around the 2% target, we are better positioned to contribute to economic stability. However, with a single instrument—our policy interest rate—we can’t lean against weaker output and higher inflation at the same time. As we consider our monetary policy response, we will need to carefully assess the downward pressure on inflation from weakness in the economy and weigh that against the upward pressure on inflation from higher import prices and supply chain disruptions.

    Unlike the pandemic, if tariffs persist there will be no economic bounce-back. Long-lasting tariffs mean lower potential output because our economy works less efficiently. Monetary policy cannot restore the lost supply. At most, it can smooth the decline in demand.

    The sharp fall in exports and investment when tariffs are imposed, combined with weaker consumption, means that initially demand would fall more than potential output, creating excess supply in the economy. Provided the inflationary impact of tariffs is not too big, monetary policy can help smooth the adjustment by supporting demand so it doesn’t weaken too much more than supply. But how much support monetary policy can provide is constrained by the need to control inflation.

    The initial impact of tariffs is a one-time rise in the level of consumer prices. Monetary policy cannot change that. What monetary policy can—and must—do is ensure that higher prices do not become ongoing inflation. This means making sure that households and businesses continue to expect inflation to remain well anchored on the 2% target. Simply put, monetary policy needs to ensure the increase in inflation is temporary.

    Strengthening Canada’s economic union

    I hope—we all hope—Canada can continue open trade with the United States. A trusted open trade relationship benefits both countries. But if we are faced with a prolonged trade conflict, the only way to offset this negative structural change is with a positive structural change.

    Structural policies are appropriately the responsibility of elected governments and parliaments—not the Bank of Canada. So I will tread lightly here.

    The Bank has previously highlighted Canada’s productivity challenge. And it’s good to see more focus by federal and provincial governments on structural reforms to increase productivity and investment by strengthening our economic union.

    Removing rules that restrict interprovincial trade and harmonizing or mutually recognizing provincial regulations could provide some offset to increased trade friction with the United States. Provinces could also make it easier for workers to move within Canada by mutually recognizing different labour accreditations. There is also scope for all levels of government to reduce the timelines and uncertainty related to regulatory approvals. And better east-west transportation links would make trade within Canada less expensive—and help get Canadian products to overseas markets.

    Again, it is not for the Bank of Canada to prescribe these policies or investments. But higher productivity means higher potential output and more capacity for growth without inflation. As Canada confronts the reality of increased trade friction with the United States, a concerted focus on productivity has rarely been more important.

    Renewing our monetary policy framework

    In some ways, the US tariff threat is part of a broader global economic shift. The structural tailwinds of peace, globalization and demographics that helped keep inflation low are turning into headwinds—and the world looks increasingly shock prone. Higher long-term interest rates, elevated sovereign debt and slower economic growth have made the global economy more vulnerable. Compounding these vulnerabilities are war, rising trade protectionism and economic fragmentation. Canada also has a structural supply challenge in its housing market. For years, the supply of housing has not kept up with demand, and housing affordability has deteriorated.

    These shifts all have implications for inflation. They may put more upward pressure on prices, and a more shock-prone world means more volatility in inflation. And that brings me to my original topic: the Bank’s flexible inflation-targeting framework.

    Since 1995, the 2% target has been jointly agreed with the Government of Canada. This gives it political legitimacy and gives the Bank the operational independence to conduct monetary policy.

    For 25 years leading up to the pandemic, inflation was low and stable. But the pandemic tested the framework like never before. We faced huge shocks to both demand and supply, a deep recession and a rapid rebound. As the economy reopened, inflation rose sharply, hitting 8%. Guided by the framework, the Bank raised the policy rate forcefully to bring inflation down. Since last summer, inflation has been close to 2%, and we’ve cut our policy rate to keep it there. In short, the framework was tested—and it proved resilient.

    The measure of the framework’s success is not only whether inflation is close to 2%. It’s also how the framework performs in the face of shocks, especially big ones.

    The next renewal of the framework is set for 2026, and the review begins now. Our focus in this review will be how we can improve the framework and its implementation to best address structural changes. We will consider several questions.

    With more supply shocks, do we need a richer playbook for monetary policy? The usual response to supply shocks is to look through their temporary impact on inflation. But we saw in the pandemic that supply shocks can be persistent, and they can accumulate. The best response will depend on the situation.

    In a world with more volatility, how should we measure underlying inflation? No single measure of core inflation works for all circumstances. What measures are most robust in a shock-prone world? Should we focus on two or three preferred measures, or is a broader approach better?

    We also want to consider the interaction of monetary policy and housing. Housing affordability is a major concern for Canadians, and rising housing costs feed inflation. But monetary policy cannot directly increase housing supply—that’s an issue for elected governments at all levels. Still, we must consider how monetary policy affects housing demand and supply and how the imbalance between them feeds into inflation in shelter prices.

    The question of housing market imbalances also matters for the measurement of underlying inflation. Does persistently high inflation in shelter prices distort our measures of core inflation?

    Finally, each time we’ve reviewed our framework we’ve asked about the inflation target itself. In our five reviews since 1995, we’ve considered whether 2% is the right target and we’ve weighed alternatives, including price-level targeting and nominal GDP targeting, among others. Each time, we’ve concluded that 2% inflation is the right target. Canadians have told us they don’t want higher inflation. They have also told us that the 2% target is well known and well understood. That has helped anchor inflation expectations through thick and thin, including through the pandemic crisis. With trade conflict on our doorstep, we need to focus our resources on the most pressing and important issues for our framework review. In my view, now is not the time to question the anchor that has proven so effective in achieving price stability.

    Conclusion

    We have covered a lot of ground, and it’s time for me to conclude.

    Canada’s economy is on a better footing. Inflation has returned to target, interest rates have come down substantially, and household spending has strengthened. But a new crisis is on the horizon. If US tariffs play out as threatened, the economic impact would be severe. A protracted trade conflict would sharply reduce exports and investment. It will cost jobs and boost inflation in the next few years and lower our standard of living in the long run. The uncertainty alone is already causing harm.

    Central banks can do little to mitigate the damage caused by a trade war. Our role will be to balance the upside risks to inflation from higher costs with the downside risks from weaker demand. Our focus will be to help smooth the painful adjustment to a lower path for the economy while preventing price increases from becoming higher ongoing inflation.

    The inflation-targeting framework has proven both flexible and durable. Its review every five years is an opportunity to reflect on what’s working well and what could be improved. The framework proved itself time and again, and the bar for change is high.

    But the world economy is shifting. At the Bank of Canada, we are committed to ensuring we are as prepared as possible for the changes to come.

    Thank you.

    I would like to thank Daniel de Munnik, Mikael Khan, Oleksiy Kryvtsov and Stephen Murchison for their help in preparing this speech.

    MIL OSI Canada News –

  • MIL-OSI USA: Cassidy, Cornyn, Colleagues Urge ATF to Rescind Unconstitutional Biden Rules, Align with Trump 2A Agenda

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy

    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), John Cornyn (R-TX), and 28 Republican colleagues today sent a letter to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) Deputy Director Marvin Richardson urging him to align the agency with President Trump’s Second Amendment priorities as laid out in his recent Executive Order and calling on him to identify and rescind former President Biden’s unlawful firearms regulations, including the “Engaged in the Business” rule, pistol brace rule, so-called “ghost gun” rule, and “zero tolerance” policy under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.
     “On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights.  We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment,” wrote the senators.
    “Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies,” continued the senators.
    Cassidy and Cornyn were joined by U.S. Senators John Thune (R-SD), Thom Tillis (R-NC), John Barrasso (R-WY), Cindy Hyde-Smith (R-MS), Shelley Moore Capito (R-WV), Jim Justice (R-WV), Jim Risch (R-ID), Cynthia Lummis (R-WY), Steve Daines (R-MT), Ted Cruz (R-TX), Kevin Cramer (R-ND), Mike Crapo (R-ID), James Lankford (R-OK), John Hoeven (R-ND), Roger Marshall (R-KS), Rick Scott (R-FL), Lindsey Graham (R-SC), Ted Budd (R-NC), Bill Hagerty (R-TN), Tim Sheehy (R-MT), Pete Ricketts (R-NE), Joni Ernst (R-IA), Marsha Blackburn (R-TN), Todd Young (R-IN), Markwayne Mullin (R-OK), Deb Fischer (R-NE), Jim Banks (R-IN), and Jerry Moran (R-KS) in sending the letter.
    Read the full letter here or below:
    Dear Deputy Director Richardson:
    Thank you for your service in leading the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) during the presidential transition. On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights.  We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.
    Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies. In particular, we call your attention to the following anti-Second Amendment regulations and policies, which must be immediately rescinded:

    The engaged in the business rule, which is an unconstitutional attempt to move ATF to do all it can to impose universal background checks on law-abiding Americans. ATF has been enjoined, at least temporarily, from enforcing the rule because it violated the text of the Gun Control Act. 
    The pistol brace rule, which improperly reclassifies pistols equipped with stabilizing braces as “short-barreled rifles” (SBRs), thereby subjecting them to stringent regulations and serious criminal penalties under the National Firearms Act and the Gun Control Act. We are troubled by the fact that ATF promulgated this rule after it previously determined that attaching a stabilizing brace to a pistol did not render the pistol an SBR.  This rule threatens to put stabilizing braces out of reach of millions of gun owners, including disabled combat veterans who rely on them to be able to shoot heavy pistols. Furthermore, the rule made law-abiding Americans felons overnight for having lawfully purchased stabilizing brace equipped pistols. Multiple courts have already found the rule to be arbitrary and capricious under the Administrative Procedure Act, and it was ordered vacated by the U.S. District Court for the Northern District of Texas.  We appreciate the Government’s recent motions to hold ATF’s 5th and 11th Circuit appeals defending the rule in abeyance and to postpone oral argument, and ATF should work quickly to accede to the vacatur given the ongoing litigation. 
    The so-called “ghost gun” rule,  which cracks down on law-abiding hobbyists who are exercising their Second Amendment rights to privately build firearms—a longstanding tradition that traces back to the Colonial Era.  The regulations are currently before the Supreme Court, but ATF should act immediately to rescind this rule.
    The “zero tolerance” policy, under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.  This policy violates a decades-long precedent of ATF working with FFLs to address these minor, unintentional violations and revoking FFL licenses only in cases of major, willful violations that threaten public safety. ATF should develop a program to restore the federal firearms licenses of those FFLs whose licenses were unfairly revoked—or surrendered under duress—where they did not engage in willful conduct (as understood prior to June 23, 2021, when the policy was announced) and do not represent at threat to public safety.

    In addition to promptly rescinding these rules and policies, we urge you to immediately destroy the hundreds of millions of ATF Form 4473 firearm transaction records and other licensee records that are over 20 years old. These records have no particular law enforcement value but do contain the sensitive information of millions of law-abiding gun owners.  ATF should likewise return to the policy of allowing FFLs to destroy Form 4473 in their possession that are over 20 years old, which the Biden Administration initiated in violation of the federal prohibition on gun registration.  Ending the policy of retaining these very old records will save money for the American taxpayer and counteract ATF’s unconstitutional rule change.  
    Furthermore, we urge you to “continue collaboration to improve the process for” National Firearms Act applications. Congress recently instructed ATF to make these improvements.  While NFA wait times have improved significantly, ATF must continue to “address ongoing delays in application processing times” until the archaic process is at least as efficient as the National Instant Criminal Background Check System. There is no reason that the right to purchase a firearm should be so greatly delayed; a right delayed is a right denied.
    The foregoing should not be considered a full accounting of every action or policy for which ATF may be held responsible under President Trump’s Executive Order but represent obvious and high priority places for ATF to initiate compliance.
    We look forward to working with you through the transition as you implement President Trump’s agenda and reorient ATF toward protecting Americans’ Second Amendment rights.

    MIL OSI USA News –

  • MIL-OSI USA: NREL Plant Biologist Maureen McCann Named Senior Research Fellow

    Source: US National Renewable Energy Laboratory

    Senior Research Fellow Maureen McCann poses with a mass spectrometer in a research lab. Photo by Agata Bogucka, NREL

    The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) has selected Maureen McCann, an internationally renowned plant biologist, to its highest technical position for a scientist: Senior Research Fellow.

    Of the more than 4,000 people who work at NREL, only 16 are current senior research fellows. Fellows are nominated by the leaders of NREL’s five research directorates, and recommendations from peer scientists play a large role in the selection process. In this prestigious role, McCann will advise NREL’s executive leadership on the strategic direction of laboratory research as it works toward advanced energy solutions.

    “The role of senior research fellow carries great responsibility at NREL,” Laboratory Director Martin Keller said. “They are in the trenches every day, conducting and overseeing research while also keeping an eye on the bigger picture and evaluating our long-term approaches. Elevation to this position is a recognition of Maureen’s talent, experience, and leadership and our belief that she can help take the laboratory to new heights. Congratulations to a fellow biologist.”

    McCann joined NREL in 2020 to direct the laboratory’s Biosciences Center. The center’s team of researchers aims to understand, predict, and control pathways and processes in living organisms to benefit the bioindustrial and agricultural sectors of the bioeconomy.

    Before NREL, she was a professor of biological sciences and director of the NEPTUNE Center for Power and Energy at Purdue University. While there, she also led an Energy Frontier Research Center, the Center for Direct Catalytic Conversion of Biomass to Biofuels, in which NREL was a senior partner. 

    In 2023, McCann took on a leadership role as associate director of the Renewable and Sustainable Energy Institute, a partnership between NREL and the University of Colorado Boulder.

    Speaking on her new role, McCann said she is excited for this next phase of her work at NREL.

    “I’m delighted and honored—it’s a little overwhelming—but can’t wait to step up to this new role and contribute my passion for how life sciences can be entrained for the bioeconomy and biomanufacturing,” McCann said.

    Maureen McCann presents her research at the Senior Research Fellows Dinner. McCann was awarded the distinction prior to her talk at the event. Photo by Agata Bogucka, NREL

    Her career of research uses biochemical, genetic, and molecular biology approaches to understand how the plant cell wall influences the final form and stature of plants. Using basic science to study the proteins and structural properties of the cell wall, McCann can engineer plants to be more productive and resilient for their use as sources of biofuels, chemicals, and materials.

    She is widely cited for her 1990 Journal of Cell Science article, “Direct Visualization of Cross-Links in the Primary Plant Cell Wall,” a field-defining study where measurements were obtained, for the first time, by directly visualizing the primary cell wall of an onion using novel electron microscopy techniques.   

    McCann’s work has also made advancements in the molecular basis of biomass recalcitrance, or the cell wall’s natural resistance to being broken down by microbes and enzymes. Converting plant biomass into usable sugars and aromatics, such as capturing glucose and xylose from cell wall polysaccharides, is an avenue to create economic value from heterogeneous waste streams. McCann’s discoveries on recalcitrance could help companies decrease energy inputs needed to prepare biomass for multiple conversion processes, therefore lowering the costs and making biofuel and biochemical production more efficient.

    McCann has authored or co-authored more than 120 peer-reviewed journal articles and has a lifetime h-index of 65, with nearly 22,000 citations. She is a graduate of Churchill College at the University of Cambridge, where she obtained her bachelor’s and master’s degrees in natural sciences before gaining a Ph.D. in botany from the University of East Anglia.

    Learn more about NREL’s science of biological energy conversion research that McCann will help lead.

    MIL OSI USA News –