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Category: Business

  • MIL-Evening Report: Here’s why increasing productivity in housing construction is such a tricky problem to solve

    Source: The Conversation (Au and NZ) – By Martin Loosemore, Professor of Construction Management, University of Technology Sydney

    This week, the Productivity Commission released its much-awaited report into productivity growth in Australia’s housing construction sector. It wasn’t a glowing appraisal.

    The commission found physical productivity – the total number of houses built per hour worked – has more than halved over the past 30 years.

    The more nuanced measure of labour productivity – which accounts for improvements in size and quality – has also fallen, by 12%.

    Both measures put home-building productivity well behind the broader economy, something the report’s authors attribute to “decades of poor performance”.

    We’ve known about this problem for a long time. The Productivity Commission’s report is well researched and makes some sensible recommendations.

    Solving the underlying problem will require a coordinated approach between government, home-owners, construction companies and workers.

    Measuring productivity

    Housing can take many forms. However, from a productivity perspective, the process of development is essentially the same.

    In very simple terms it involves:

    • concept and initial design, feasibility, finance and business case development
    • land acquisition and due diligence
    • detailed design, development and building approvals
    • pre-construction planning and working drawings
    • construction project management
    • practical completion, final certificates and settlement, commissioning and handover.

    There are no official estimates of housing construction productivity. So, the Productivity Commission used Australian Bureau of Statistics (ABS) data to create its own new measures to capture productivity across this entire process.

    Falling or flat-lining productivity in this sector is a well-known long-term problem. Under the National Housing Accord, the federal government has committed to building 1.2 million new well-located homes by the end of this decade.

    But in the first three months since the National Housing Accord was launched, only 44,884 homes were built across Australia. That’s about 15,000 fewer than the required quarterly target of 60,000.

    The National Housing Supply and Affordability Council projects that new market housing supply will ultimately come in at about a quarter of a million homes below the accord’s target.

    4 key problems

    The report identified four key factors behind the malaise:

    1. complex, slow approvals, as well as delayed construction certificates and essential infrastructure connections
    2. lack of innovation and slow uptake of digital technologies and modern methods of construction
    3. the dominance of smaller building firms resulting in low economies-of-scale and project management challenges associated with supply chain fragmentation
    4. difficulties attracting and retaining skilled workers resulting in skills and labour shortages.

    The report proposes seven reform directions in response. These centre on speeding up the planning approval process, investing in research and development, and increasing workforce flexibility.

    Fixing things won’t be simple

    The Productivity Commission’s report has brought a welcome focus on planning and approvals as a key element of easing the housing crisis.

    It acknowledges that under-resourcing of agencies involved in the approvals process, such as local governments, has made the problem worse.

    One issue with increasing the number of planning approvals processed is that you then need to have a construction industry that can build fast enough to keep up with them.

    Currently, we don’t. Industry research shows since 2013, the number of workers within Australia’s construction workforce has increased by more than 25%. But they are working 2% fewer hours each year, and achieving an output that’s 25.4% lower.

    Keeping an eye on quality

    Amid any push to speed up approvals, we need to be mindful of the possible risks. Loosening building regulations can increase the risk of quality problems and inappropriate development.

    If widespread across the industry, such problems can cause significant personal and economic harm to households, social and economic costs for society. They can also increase building costs, insurance premiums and strata fees.

    This problem calls for a range of tools to reduce the risk of compromising on quality when regulations are loosened or changed. New South Wales has two key pieces of legislation in place that could act as a model for other states.

    One allows owners to sue if a person who carries out construction work fails to exercise reasonable care. The other allows the Building Commission to investigate building work and require rectification of defects for up to six years.

    NSW also has an independent builder trustworthiness rating scheme. This is known as iCirt and operated by credit rating agency Equifax.

    Innovation isn’t a panacea

    A major feature of the Productivity Commission’s report discusses the housing construction industry’s low innovation culture.

    However, much innovation is hidden from view, since it occurs at the manufacturing stage. And innovation itself is not a panacea.

    While calling for greater innovation seems obvious on the surface, research has shown its ability to increase productivity depends on a wide range of factors and is certainly not guaranteed. It can even increase costs and reduce quality and productivity if not managed effectively.

    More holistic workforce planning

    The report also highlights issues with attracting and retaining a skilled workforce. Issues include low apprenticeship take-up and completion rates, restrictive trade pathways, and large infrastructure projects drawing talent away.

    This raises a bigger issue. Despite workforce planning across the industry by the Construction Industry Training Board the industry still seems to be constantly reacting to a skilled labour shortage rather than planning ahead to predict and prevent one.



    Read more:
    Will new $10,000 apprentice payments help solve job shortages in construction? Not anytime soon

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

    – ref. Here’s why increasing productivity in housing construction is such a tricky problem to solve – https://theconversation.com/heres-why-increasing-productivity-in-housing-construction-is-such-a-tricky-problem-to-solve-250048

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Security: District Court Enters Permanent Injunctions Prohibiting Unauthorized Debits to Consumer and Small Business Bank Accounts

    Source: United States Attorneys General

    On Jan. 31, a court in Miami entered the final in a series of consent decrees, permanently barring 10 individuals and entities from operating a scheme to steal funds from thousands of bank accounts belonging to consumers and small businesses across the United States.

    In a civil complaint unsealed on Dec. 11, 2023, the Justice Department alleged that a network of individuals and their companies, including defendants Farhan Khan, Jeremy Todd Briley, Christopher Foufas, Brandon Hahn, and Melinda Petit-Homme, participated in a scheme to steal millions of dollars from consumers and small businesses by making recurring unauthorized charges against their bank accounts.

    The defendants allegedly used sham companies, including Altitude Processing Inc., which does business as Clear Marketing Agency, to cover their tracks and make the unauthorized charges appear legitimate. The defendants also allegedly took elaborate steps to portray the sham companies as legitimate businesses that provided online marketing services, creating bogus websites for the sham companies, fake customer authorizations for the charges, and a “customer service” call center to field complaints and offer refunds. The government alleged that, in reality, victims of the scheme never signed up for — or received — any services from the defendants.

    “These consent decrees are the hard-won result of the Department’s efforts to eradicate schemes that prey upon consumers and small businesses across the United States,” said Acting Assistant Attorney General Brett Shumate of the Justice Department’s Civil Division. “The Department is committed to using all the tools at its disposal to block fraudsters from reaching into victims’ bank accounts and draining their savings through repeated unauthorized charges.”

    “The U.S. Postal Inspection Service will relentlessly pursue any and everyone masquerading as legitimate businesses to fraudulently steal money from unsuspecting consumers,” said Inspector in Charge Eric Shen of the Postal Inspection Service’s Criminal Investigations Group. “Postal inspectors work diligently to investigate fraud scams and educate the public about how to protect their money from criminals.”

    Under the consent decrees, the defendants may not charge consumers without authorization. The consent decrees also prevent the defendants from taking any measures to: (a) evade fraud and risk monitoring programs established by any financial institution, payment processor, or the operator of any payment system; (b) disguise the nature of transactions; or (c) artificially reduce chargeback rates. They are further prohibited from assisting any other individuals or entities with taking any of the prohibited actions. The consent decrees do not constitute an admission of guilt on behalf of the defendants.

    The United States Postal Inspection Service investigated the case.

    Trial Attorneys Carolyn Rice and Meredith Reiter of the Civil Division’s Consumer Protection Branch represented the government in this matter. The U.S. Attorney’s Office for the Southern District of Florida provided substantial assistance.

    For more information about the Consumer Protection Branch and its enforcement efforts, visit its website at www.justice.gov/civil/consumer-protection-branch.

    MIL Security OSI –

  • MIL-OSI Video: State of Play: US Dollar | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    In recent years the US dollar has gradually strengthened and now is at its most appreciated level since the 1980s.

    Join this town hall to understand the dollar’s role in the future amid ongoing financial fragmentation, global debt concerns and growing interest in digital currencies.

    Speakers: Kenneth Rogoff, Keyu Jin, Raghuram G. Rajan

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=gP0UESbHddE

    MIL OSI Video –

  • MIL-OSI USA: Ahead of Confirmation Hearing, Warren Lays Out Concerns with Deputy Defense Secretary Nominee Stephen Feinberg

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    February 18, 2025
    As former head of private equity firm Cerberus, Feinberg drove Massachusetts’ Steward hospital into the ground, would have significant financial conflicts of interest 
    “Your track record at Cerberus includes mismanagement, profiteering, and little relevant government experience. You have put profits at the center of your work when the Deputy Secretary role requires that you put the Department and its people at the center.” 
    Text of Letter (PDF)
    Washington, D.C. – Ahead of his confirmation hearing before the Senate Armed Services Committee (SASC), U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the SASC Subcommittee on Personnel, wrote to Mr. Stephen Feinberg, nominee for Deputy Secretary of the Department of Defense (DoD), pressing him to explain his “serious conflicts of interest” and his track record of mismanagement. 
    As Deputy Secretary of Defense, Mr. Feinberg will need to be able to manage the building, support the workforce, and “(e)nsure Department-wide capability and resources across all functions to carry out the strategic plan of the DoD in support of national security objectives.” Upon his nomination, President Trump regarded him as “(a)n extremely successful businessman.” However, as the former head of private equity firm Cerberus Capital Management, Mr. Feinberg reportedly ran several companies, including Chrysler, into the ground. 
    “I am concerned that your track record as a private equity executive shows you lack the skills and demonstrated experience needed to manage and execute the scale of reforms necessary at the Department of Defense,” wrote Senator Warren. 
    In Massachusetts, residents have had first-hand experience with the damage caused by Cerberus’ private equity model. Cerberus bought into Massachusetts’ Caritas Christi hospital system, in 2010, investing $246 million, rechristening it as Steward, and leaving Dr. Ralph de la Torre in charge as CEO. In 2020, Cerberus began to exit by transferring its ownership stake and then, over a six-year period, straddled Steward with over a billion dollars in liabilities – while Cerberus executives profited handsomely, receiving $800 million in profits. Unable to handle the massive debt load, Steward went bankrupt last year – resulting in the closure of two hospitals in the Commonwealth. 
    Mr. Feinberg is estimated to own about 75% of Cerberus, which holds large investments in companies that do business with DoD. These investments have included everything from a company testing hypersonic missile technology to an open-source internet scrapping company. They have also included companies that have defrauded the U.S. government. DynCorp, a private military contractor Cerberus previously owned, was sued by the Department of Justice for intentionally overcharging the Department of State while doing a contract overseas. The letter finds Cerberus has investments in at least 7 companies that do at least $15.9 billion in business with the DoD.
    “These holdings would pose a conflict of interest between your duty as Deputy Secretary to advance the Department’s national security interests and your personal interest in delivering profits for the defense companies in which you or Cerberus have invested,” said Senator Warren. 
    The Deputy Secretary is supposed to help ensure international law is followed, including protecting civilians from harm. However, the New York Times, found that “(f)our Saudis who participated in the 2018 killing of the Washington Post journalist Jamal Khashoggi received paramilitary training” from a company owned by Cerberus. 
    “If the Deputy Secretary has shown disregard for those laws, that will undermine the faith in these laws for the entire organization,” wrote Senator Warren. 
    Senator Warren also questioned Mr. Feinberg’s qualifications to manage the Department. Beyond a lengthy business and political relationship with President Trump, Mr. Feinberg lacks military experience to lead the Department. Mr. Feinberg participated in the Army Reserve Officers’ Training Corps (ROTC) while studying at Princeton University, but left the program before graduating. 
    “Without Department of Defense knowledge or experience in government leadership, I have doubts about your qualifications and how your past has prepared you to take on a role such as Deputy Secretary of Defense,” concluded Senator Warren. 
    Given Mr. Feinberg’s severe conflicts of interest, record of mismanagement and profiteering, and lack of relevant government experience, Senator Warren asked Mr. Feinberg to respond to questions about several areas of concern with his record, including his experience with private equity, potential ties to human rights violations, history of defrauding the federal government, and vision for managing a key part of the federal workforce by February 24, 2025. 

    MIL OSI USA News –

  • MIL-OSI USA: Barr, Artificial Intelligence: Hypothetical Scenarios for the Future

    Source: US State of New York Federal Reserve

    Advances in artificial intelligence (AI) have accelerated rapidly over the past few years.1 It is now commonplace to see autonomous vehicles navigating city streets, and generative AI tools are available on phones and other devices wherever we go. AI innovations make headlines and play a big role in financial markets, and generative AI has the potential to change how we think about productivity, labor markets and the macroeconomy.2 Today, I will address that question by outlining two hypothetical scenarios for AI’s impact and the implications for businesses, regulators, and society. I will focus my comments on Generative AI, or GenAI, a subset of AI that has seen significant growth and integration into economic activity in just a few short years.
    GenAI and Its AdoptionCompared to earlier iterations of AI, GenAI is able to generate content, which allows it to significantly enhance productivity across a range of knowledge-based activities and be used by people without coding skills. GenAI will likely become a “general purpose technology,” with widespread adoption, continuous improvement, and productivity enhancements to a wide range of sectors across the economy. We are already seeing GenAI improve the productivity of its own R&D.3 There is widespread enthusiasm for GenAI, and survey evidence shows much faster rates of consumer adoption of GenAI already than were seen for the personal computer or the internet.4 While actual deployment of GenAI is limited to some business functions, and there have been pitfalls along the way, businesses in almost every sector are experimenting with or considering how to make use of the technology.5
    Firms are also exploring Agentic AI—Gen AI systems that not only produce new content, but are also able to proactively pursue goals by generating innovative solutions and acting upon them at speed and scale.6 Imagining Agentic AI’s ultimate application, some speculate that we could experience a “country of geniuses in a data center”—a collective intelligence that surpasses human capabilities in problem-solving and collaboration.7 Some believe Agentic AI has the potential to connect ideas in disparate domains, potentially transforming research and development and society more broadly.8
    Hypothetical Scenarios Considering How GenAI Could EvolveToday, I will outline two hypothetical scenarios for considering how GenAI could evolve.9 In one, we see only incremental adoption that primarily augments what humans do today, but still leads to widespread productivity gains. In the other, we see transformative change where we extend human capabilities with far-reaching consequences. For each scenario, I consider the potential implications for the economy and financial sector.
    Thinking through hypothetical scenarios can help widen our lens to a range of possible outcomes and provide a framework for assessing the balance between benefits and risks. Scenarios are not predictions of the future, but provide a framework for analyzing the factors that could lead to different outcomes. Reality is complex. GenAI adoption rates will vary across industries, leading to diverse impacts on market structures. Elements of both scenarios will likely come to pass, and play out at different rates, which will influence the effects on the economy and society. In the short term, GenAI may be overhyped, while in the long run, it may be underappreciated. And, of course, things might turn out differently from these hypotheticals.
    Hypothetical 1: Incremental Progress with Widespread Productivity GainsFirst, let me begin with the incremental scenario, where GenAI primarily augments work in existing processes and leads to steady and widespread productivity gains, but does not fundamentally unlock new capabilities or transform the economy.
    In this state of the world, GenAI tools enhance efficiency and enable more personalized solutions across industries, in ways that have incremental—but still meaningful—effects on people’s lives. For instance, in customer service, professional writing—but not this speech—and software engineering, GenAI-powered tools are already supporting workers, improving accuracy and speed, and these effects could spread to other sectors.10 In this world, health care sees significant improvements as GenAI reduces administrative burdens, assists with diagnostics, and personalizes treatment plans based on real-time patient data. Medicines and other treatments are developed at a faster pace.11 Education is similarly affected, as GenAI alleviates administrative tasks for teachers, allows lessons to be tailored to individual students, and permits students to learn by doing.12 In manufacturing, GenAI-optimized supply chains anticipate and adjust more quickly to disruptions, and current manufacturing processes are refined through virtual iteration.13 In materials science, GenAI-driven experimentation accelerates the discovery of new materials, leading to advances in everything from construction to electronics.14 Turning to the financial sector, we could see similar productivity gains. Community banks leverage GenAI-powered chatbots to provide customized financial advice rooted in local knowledge, while institutions of all sizes continue to advance use of GenAI for compliance monitoring, fraud detection, risk management, and document analysis.15
    The impact to society would be incrementally positive in this state of the world. Humans would use GenAI as a tool to deliver goods and services that we currently produce in a more efficient way. Productivity would go up. The economy would grow at a faster pace.16
    What does this mean for the labor force? The impact will depend on the industry and the nature of the job. GenAI experiments suggest the technology holds the promise of levelling up skills and bringing productivity of lower-performing workers into line with higher performing workers.17 In other cases, it could augment the highest performers, leaving them more time for creativity or strategic aspects of their roles. Increasing automation for certain tasks may displace some workers, where certain skills can be replicated by GenAI. Historically, as technology has replaced some jobs, it has augmented existing roles or created new ones.18 However, this is not to downplay the individual cost for workers who need to retrain, find other employment, or change careers in response to major changes in labor demand. Society will need to account for these possible effects of AI.
    What does this mean for the economy? As I noted before, the economy should grow, if the incremental productivity gains are widespread. However, in this scenario, it is possible that the expected value creation from GenAI was overhyped, anticipating transformative breakthroughs rather than incremental productivity gains. This could trigger market corrections for the firms that have heavily invested in this technology if reality doesn’t measure up to expectations. While the U.S. economy experienced a surge of productivity growth during the dot.com boom in the late 1990s, it was followed by a wave of bankruptcies, capital overhang, and a cautious business investment climate.19 The effects of the ensuing recession were widespread.
    What does this mean for financial stability and other financial risks? In this incremental scenario, GenAI may magnify both the vulnerabilities and sources of resilience that already exist in the system. Attractive trades become more crowded, but risk managers gain new insights.20 Malicious actors gain new tools, but cyber defenders become better armed. So long as financial regulators, enterprise risk managers, and others charged with managing downside risks prioritize efforts to keep pace with the evolving financial ecosystem, there’s nothing to suggest a wholesale transformation of the balance of risks. Of course, keeping pace will pose challenges, and it’s important that we all focus on the need to meet these risks.
    Hypothetical Scenario 2: Transformative ChangeNow, let’s consider a more dramatic hypothetical scenario, in which GenAI adoption extends beyond improving on what we currently do, and provides new expertise and capabilities that have transformative effects on the economy and society. In this scenario, humans deploy their imagination and creativity—combined with robust investment in research and development—to deploy intelligent GenAI systems to make rapid breakthroughs in, for example, biotechnology, robotics, and energy, fundamentally reshaping existing industries and creating new ones. In this instance, to focus the mind, we can think of GenAI as no longer only a tool for scientists to analyze data—in a sense, it becomes the scientist, directing the research.21
    For instance, let’s say that GenAI applications in health care do not simply improve how we currently deliver care, but also enable therapies that target genetic mutations and cure diseases previously considered incurable.22 Similarly, manufacturing evolves to create GenAI-driven robotic factories, with goods produced with new materials and atomic precision.23 Materials science is transformed through the discovery of programmable materials and self-healing substances, all of which reshape construction, technology, and consumer goods.24 Meanwhile, GenAI optimizes fusion energy research, expediting the shift to sustainable energy sources.25 And GenAI helps to create the next generation of quantum computing.26 In that way, GenAI improves its own energy sources and computing capabilities, enabling it to become a more powerful creative tool.27
    Finance also looks radically different than it does today. Individuals with access to hyper-personalized financial planning and businesses with innovative products and services seamlessly connect with one another through near-frictionless or novel forms of financial intermediation.28 Trading strategies and risk-management practices are boosted by greater GenAI-based analytic tools that have dynamic real-time access to an enormous knowledge base in both the public and private domains.29
    Although this transformative scenario is more speculative and is accompanied by a far greater degree of uncertainty than the first, it is important to consider given the extraordinary opportunities for human advancement and welfare that could arise, even if just one of its transformative components were to come to fruition. We would need to fundamentally reimagine how the economy is structured.
    What are the impacts on the labor force, in a world where GenAI’s capabilities extend beyond what humans can accomplish today? Humans may have a role to manage multi-agent GenAI frameworks, or fill gaps where GenAI solutions remain expensive or inefficient for some applications. But this is a world where some workers may see their current jobs disappearing. It is also a world in which they may see their own work transformed and have many more choices about the work they do. The nature of labor would radically change, and this will require us to have broader conversations about how to organize the economy. These conversations should wrestle with how to navigate major economic shifts in a way that recognizes the impact on the human condition, and the extent to which people derive their communities, friendships, personal sense of meaning and dignity from their work.
    What about the competitive landscape? There is probably a greater likelihood that rewards for businesses would be distributed more unevenly at first, as significant breakthroughs with far-reaching ramifications may benefit a subset of firms and industries and concentrate economic power in firms that control GenAI breakthroughs. If only a handful of firms have the ability to accomplish the incredible things I’ve mentioned above, they may dominate markets and crowd out competitors. To the extent that GenAI becomes broadly effective, widely available, and cheap, these market advantages could lessen over time if the right regulatory environment supports competitive market dynamics.30 But history suggests caution in this regard; a handful of players may dominate.31
    And finally, for finance, we should anticipate fundamental changes in this scenario. When it’s working well, the financial system helps move money and risk through time and space.32 To the extent there are fundamental changes to how the economy is organized, we could need a new set of institutions, markets, and products to facilitate transactions among households, businesses, and GenAI agents.
    What Should We Do?Among the many ways in which we can help to harness the potential benefits of GenAI and minimize its risks, I will highlight only a couple today.
    Financial institutions, and the Federal Reserve System, should consider investing sufficient resources in understanding GenAI technology, incorporating it into their workflows where appropriate, and training staff on how to use the technology responsibly and effectively.33 Meanwhile, the financial regulatory community should approach the changing landscape with agility and flexibility. And beyond the financial sector, collaboration between governments, private industry, and research institutions will be critical to ensure that GenAI systems are not weaponized in catastrophic ways. We should continue to focus on responsible AI research and development and implement safeguards against misuse, including monitoring systems, standards for secure AI system development, and agreement on red lines for acceptable use cases.34 We should be attuned to the impact of GenAI on our economic and political institutions. There’s a risk that it concentrates economic and political power in the hands of the very few and could lead to the gains being realized only by a small group, while the rest are left behind.
    Another thing I want to emphasize is AI governance. I think most would agree that the goal of the technology is to improve the human condition, and to do that, we need to be intentional in advancing that goal. We should make sure that we think about GenAI as enhancing, not replacing, humans, and set up best practices and cultural norms to that end. Every financial institution should recognize the limitations of the technology, explore where and when GenAI belongs in any process, and identify how humans can be best positioned to be in the loop. We should also focus on data quality, and make sure that uses of GenAI do not perpetuate or amplify biases inherent in the data used to train the system or make incorrect inferences to the extent the data is incomplete or nonrepresentative.35 In the realm of regulation, frameworks for understanding model risk may need to be updated to address the complexity and challenges of explaining AI methods and the difficulty of assessing data quality.
    We need to be attuned to the risk in finance. The very attributes that make GenAI attractive—the speed, automaticity, and ability to optimize financial strategies—also present risk.36 When the technology becomes ubiquitous, use of GenAI could lead to herding behavior and the concentration of risk, potentially amplifying market volatility. As GenAI agents will be directed to maximize profit, they may converge on strategies to maximize returns through coordinated market manipulation, potentially fueling asset bubbles and crashes. Speed, automaticity, and ubiquity could generate new risks at wide scale.37
    We also should monitor how introduction of this technology changes the banking landscape. Nonbanks may be more nimble and risk-forward in incorporating GenAI into their operations, which may push intermediation to less-regulated, less transparent corners of the financial sector. In addition, this competitive pressure may push all institutions, including regulated institutions, to take a more aggressive approach to GenAI adoption, heightening the governance, alignment, and financial risks I mentioned before.
    In conclusion, while AI’s impact will vary across industries and the reality is evolving, the scenarios I have outlined today provide a framework to begin thinking about how we should respond to developments in GenAI. However, as I mentioned above, elements of both scenarios will likely be present in the future, and play out at different rates, which will influence the effects on the economy and society. Rapid advances in this technology, such as Agentic AI and advancements in open-source models, underscore just how new this technology is and the importance of understanding what it means for individuals, businesses, and markets. Thank you.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board. Return to text
    2. See, for instance, Lisa D. Cook, “Artificial Intelligence, Big Data, and the Path Ahead for Productivity,” (speech at Technology-Enabled Disruption: Implications of AI, Big Data, and Remote Work Conference, Atlanta, Georgia, October 1, 2024). Return to text
    3. See Gaurav Sett, “How AI Can Automate AI Research and Development,” RAND Commentary, October 24, 2024. Return to text
    4. See Cory Breaux and Emin Dinlersoz, “How Many U.S. Businesses Use Artificial Intelligence?” (Washington: U.S. Census Bureau, November 28, 2023); Alexander Bick, Adam Blandin, and David J. Deming, “The Rapid Adoption of Generative AI,” NBER Working Paper No. 32966 (Cambridge, MA: National Bureau of Economic Research, September 2024, revised February 2025); and Leland Crane, Michael Green, and Paul Soto, “Measuring AI Uptake in the Workplace,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, February 5, 2025). Return to text
    5. There’s evidence of firms experimenting with these tools and then abandoning them—due to a multitude of reasons. See Kathryn Bonney, Cory Breaux, Cathy Buffington, Emin Dinlersoz, Lucia S. Foster, Nathan Goldschlag, John C. Haltiwanger, Zachary Kroff, and Keith Savage, “Tracking Firm Use of AI in Real Time: A Snapshot from the Business Trends and Outlook Survey,” NBER Working Paper No. 32319 (Cambridge, MA: National Bureau of Economic Research, April 2024). Return to text
    6. For more on Agentic AI’s uses, advantages, and risks, see Mark Purdy, “What Is Agentic AI, and How Will It Change Work?” Harvard Business Review (December 12, 2024). Return to text
    7. See Dario Amodei, “Machines of Loving Grace,” October 2024, https://darioamodei.com/machines-of-loving-grace. Return to text
    8. For biology and drug discovery, see Jean-Philippe Vert, “Unlocking the Mysteries of Complex Biological Systems with Agentic AI,” MIT Technology Review (November 13, 2024), https://www.technologyreview.com/2024/11/13/1106750/unlocking-the-mysteries-of-complex-biological-systems-with-agentic-ai; and “Owkin Announces First Patient Dosed in Phase I AI-Optimized Clinical Trial of OKN4395, a First-in-Class EP2/EP4/DP1 Triple Inhibitor for Patients with Solid Tumors,” Business Wire, January 30, 2025, https://www.businesswire.com/news/home/20250130436779/en/Owkin-Announces-First-Patient-Dosed-in-Phase-I-AI-optimized-Clinical-Trial-of-OKN4395-a-First-in-Class-EP2EP4DP1-Triple-Inhibitor-for-Patients-with-Solid-Tumors. Return to text
    9. Others have used other types of scenarios. See Anton Korinek, “The Economics of Transformative AI,” The Reporter (Cambridge, MA: National Bureau of Economic Research, December 31, 2024); Iñaki Aldasoro, Leonardo Gambacorta, Anton Korinek, Vatsala Shreeti, and Merlin Stein, “Intelligent Financial System: How AI Is Transforming Finance (PDF),” BIS Working Papers No. 1194 (Basel, Switzerland: Bank for International Settlements, June 2024); and Ethan Mollick, Co-Intelligence: Living and Working with AI (New York: Portfolio/Penguin, 2024). Return to text
    10. For worker productivity gains in customer service, see Erik Brynjolfsson, Danielle Li, and Lindsey R. Raymond, “Generative AI at Work,” NBER Working Paper No. 31161 (Cambridge, MA: National Bureau of Economic Research, April 2023, revised November 2023). For GenAI assisted writing gains, see Shakked Noy and Whitney Zhang, “Experimental Evidence on the Productivity Effects of Generative Artificial Intelligence,” Science, vol. 381, no. 6654 (July 2023): 187–92; Jordan Usdan, Allison Connell Pensky, and Harley Chang, “Generative AI’s Impact on Graduate Student Writing Productivity and Quality,” SSRN (August 29, 2024), https://dx.doi.org/10.2139/ssrn.4941022. For software engineering, see Sida Peng, Eirini Kalliamvakou, Peter Cihon, and Mert Demirer, “The Impact of AI on Developer Productivity: Evidence from GitHub Copilot,” arXiv:2302.06590, February 13, 2023; Leonardo Gambacorta, Han Qiu, Shuo Shan, and Daniel M. Rees, “Generative AI and Labour Productivity: A Field Experiment on Coding (PDF),” BIS Working Papers No. 1208 (Basel, Switzerland: Bank for International Settlements, September 2024); Zheyuan (Kevin) Cui, Mert Demirer, Sonia Jaffe, Leon Musolff, Sida Peng, and Tobias Salz, “The Effects of Generative AI on High-Skilled Work: Evidence from Three Field Experiments with Software Developers,” SSRN (September 5, 2024, revised February 10, 2025), https://dx.doi.org/10.2139/ssrn.4945566. For worker gains in the consulting industry, see Fabrizio Dell’Acqua, Edward McFowland III, Ethan Mollick, Hila Lifshitz-Assaf, Katherine C. Kellogg, Saran Rajendran, Lisa Krayer, François Candelon, and Karim R. Lakhani, “Navigating the Jagged Technological Frontier: Field Experimental Evidence of the Effects of AI on Knowledge Worker Productivity and Quality (PDF),” Harvard Business School Working Paper No. 24-013 (September 2023). Return to text
    11. See Ethan Goh, Robert Gallo, Jason Hom, et al., “Large Language Model Influence on Diagnostic Reasoning: A Randomized Clinical Trial,” JAMA Network Open (October 28, 2024), https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2825395; Nikhil Agarwal, Alex Moehring, Pranav Rajpurkar, and Tobias Salz, “Combining Human Expertise with Artificial Intelligence: Experimental Evidence from Radiology,” NBER Working Paper No. 31422 (Cambridge, MA: National Bureau of Economic Research, July 2023, revised March 2024); Ashley Capoot, “Reid Hoffman Enters ‘Wondrous and Terrifying’ World of Health Care with Latest AI Startup,” CNBC, February 2, 2025, https://www.cnbc.com/2025/02/02/reid-hoffman-launches-manas-ai-a-new-drug-discovery-startup.html; Kang Zhang, Xin Yang, Yifei Wang, Yunfang Yu, Niu Huang, Gen Li, Xiaokun Li, Joseph C. Wu, and Shengyong Yang, “Artificial Intelligence in Drug Development,” Nature Medicine, vol. 31 (January 2025): 45–59, https://doi.org/10.1038/s41591-024-03434-4; Qian Liao, Yu Zhang, Ying Chu, Yi Ding, Zhen Liu, Xianyi Zhao, Yizheng Wang, Jie Wan, Yijie Ding, Prayag Tiwari, Quan Zou, and Ke Han, “Application of Artificial Intelligence in Drug-Target Interactions Prediction: A Review,” NPJ Biomedical Innovations, vol. 2, no. 1 (January 2025), https://doi.org/10.1038/s44385-024-00003-9. Return to text
    12. For more on education, see Justin Wolfers, “An Econ Educators Guide to our AI-Powered Future,” Macmillan Learning, EconEd (presentation), September 26, 2024, https://www.macmillanlearning.com/college/us/events/econed; and Anne J. Manning, “Professor Tailored AI Tutor to Physics Course. Engagement Doubled,” Harvard Gazette, September 5, 2024. Return to text
    13. See Maxime C. Cohen and Christopher S. Tang, “The Role of AI in Developing Resilient Supply Chains,” Georgetown Journal of International Affairs (February 5, 2024); and Remko Van Hoek and Mary Lacity, “How Global Companies Use AI to Prevent Supply Chain Disruptions,” Harvard Business Review, November 21, 2023. Return to text
    14. See Sheldon Fernandez, “How Generative AI Can Be Used in Electronics,” Forbes, April 26, 2023, https://www.forbes.com/councils/forbestechcouncil/2023/04/26/how-generative-ai-can-be-used-in-electronics-manufacturing. Return to text
    15. For U.S. financial institutions, see Elizabeth Judd, “How to Balance Human and Machine While Using Chatbots,” Independent Banker, January 1, 2025; and U.S. Department of the Treasury, “Artificial Intelligence in Financial Services (PDF)” (Washington: U.S. Department of the Treasury, December 2024). For foreign financial institutions, see Bank of England and Financial Conduct Authority, “Artificial Intelligence in UK Financial Services—2024” (London: Bank of England and Financial Conduct Authority, November 21, 2024); and Bank of Japan, “Use and Risk Management of Generative AI by Japanese Financial Institutions,” Financial System Report Annex (Tokyo: Bank of Japan, October 29, 2024). For global financial institutions, see OECD, “FSB Roundtable on Artificial Intelligence (AI) in Finance (PDF),” Financial Stability Board, September 30, 2024. Return to text
    16. Lida R. Weinstock and Paul Tierno, “The Macroeconomic Effects of Artificial Intelligence (PDF),” Congressional Research Service, January 28, 2025. Return to text
    17. See Shakked Noy and Whitney Zhang, “Experimental Evidence on the Productivity Effects of Generative Artificial Intelligence,” Science, vol. 381, no. 6654 (July 13, 2023): 187–92; Brynjolfsson et al., “Generative AI at Work” (see footnote 9); and “for software engineering” from footnote 9; Korinek (2024) from footnote 7. Return to text
    18. See David H. Autor, “Why Are There Still So Many Jobs? The History and Future of Workplace Automation,” Journal of Economic Perspectives, vol. 29, no. 3 (Summer 2015): 3–30.See Simona Abis and Laura Veldkamp. Return to text
    19. See Ben S. Bernanke, “Will Business Investment Bounce Back?” (speech at the Forecasters Club, New York, NY, April 24, 2003). Return to text
    20. See Financial Stability Board, The Financial Stability Implications of Artificial Intelligence (Basel, Switzerland: Financial Stability Board, November 14, 2024); and Jon Danielsson and Andreas Uthemann, “How AI Can Undermine Financial Stability,” VoxEU: CEPR, January 22, 2024. Return to text
    21. For some very early examples, see Davide Castelvecchi, “Researchers Built an ‘AI Scientist’—What Can It Do?” Nature, August 30, 2024, https://www.nature.com/articles/d41586-024-02842-3; Daniil A. Boiko, Robert MacKnight, Ben Kline, and Gabe Gomes, “Autonomous Chemical Research with Large Language Models,” Nature, December 20, 2023, https://www.nature.com/articles/s41586-023-06792-0; and Helena Kudiabor, “Virtual Lab Powered by ‘AI Scientists’ Super-Charges Biomedical Research,” Nature, December 4, 2024, https://www.nature.com/articles/d41586-024-01684-3. Return to text
    22. For more on drug discovery and gene therapy, see Betty Zou, “Team Uses AI and Quantum Computing to Target ‘Undruggable’ Cancer Protein,” Phys Org, January 27, 2025; and Mohammad Ghazi Vakili et al., “Quantum-Computing-Enhanced Algorithm Unveils Potential KRAS Inhibitors,” Nature Biotechnology, January 22, 2025, https://www.nature.com/articles/s41587-024-02526-3. Return to text
    23. See NASA Technology Transfer Program, “Robonaut 2: Hazardous Environments (MSC-TOPS-44)”. Return to text
    24. For more on material sciences innovation, see Andy Extance, “First GPT-4-Powered AI Lab Assistant Independently Directs Key Organic Reactions,” Chemistry World, January 8, 2024, https://www.chemistryworld.com/news/first-gpt-4-powered-ai-lab-assistant-independently-directs-key-organic-reactions/4018723.article; Chenyang Liu, Xi Zhang, Jiahui Chang, You Lyu, Jianan Zhao, and Song Qiu, “Programmable Mechanical Metamaterials: Basic Concepts, Types, Construction Strategies—A Review,” Frontiers, vol. 11 (March 19, 2024); Aidan Toner-Rodgers, “Artificial Intelligence, Scientific Discovery, and Product Innovation,” MIT, November 27, 2024, https://aidantr.github.io/files/AI_innovation.pdf; and Thomas Hayes et al., “Simulating 500 Million Years of Evolution with a Language Model,” Science, January 16, 2025. Return to text
    25. See Tan Sui, “AI Could Help Overcome the Hurdles to Making Nuclear Fusion a Practical Energy Source,” The Conversation, January 29, 2025, https://theconversation.com/ai-could-help-overcome-the-hurdles-to-making-nuclear-fusion-a-practical-energy-source-247608; Jaemin Seo, SangKyeun Kim, Azarakhsh Jalalvand, Rory Conlin, Andrew Rothstein, Joseph Abbate, Keith Erickson, Josiah Wai, Ricardo Shousha, and Egemen Kolemen, “Avoiding Fusion Plasma Tearing Instability with Deep Reinforcement Learning,” Nature, vol. 626, February 21, 2024, https://doi.org/10.1038/s41586-024-07024-9; and Massimiliano Lupo Pasini, German Samolyuk, Markus Eisenbach, Jong Youl Choi, Junqi Yin, and Ying Yang, “First-Principles Data for Solid Solution Niobium-Tantalum-Vanadium Alloys with Body-Centered-Cubic Structures,” Nature: Scientific Data, vol. 11, no. 907 (August 22, 2024), https://doi.org/10.1038/s41597-024-03720-3. Return to text
    26. Nakia Melecio, “Exploring the Synergy: Quantum Computing and Generative AI at the Intersection of Innovation,” ScaleUp Lab Program, Enterprise Innovation Institute, Georgia Tech. Return to text
    27. For an example on GenAI and quantum computers, see Rahul Rao, “Quantum Computers Can Now Run Powerful AI That Works like the Brain,” Scientific American, April 22, 2024, https://www.scientificamerican.com/article/quantum-computers-can-run-powerful-ai-that-works-like-the-brain. For an example about AI and clean energy, see Office of Policy, “How AI Can Help Clean Energy Meet Growing Electricity Demand” (Washington: U.S. Department of Energy, August 16, 2024). For examples of how GenAI is augmenting creativity, see Tojin T. Eapen, Daniel J. Finkenstadt, Josh Folk, and Lokesh Venkataswamy, “How Generative AI Can Augment Human Creativity,” Harvard Business Review (July–August 2023); and Anil R. Doshi and Oliver P. Hauser, “Generative AI Enhances Individual Creativity but Reduces the Collective Diversity of Novel Content,” Science Advances, vol. 10, no. 28 (July 12, 2024). Return to text
    28. See Iñaki Aldasoro, Leonardo Gambacorta, Anton Korinek, Vatsala Shreeti, and Merlin Stein, “Intelligent Financial System: How AI Is Transforming Finance (PDF),” BIS Working Papers No. 1194 (Basel, Switzerland: Bank for International Settlements, June 2024); and Sarah Hammer, “From Turing to Trading: How AI Is Revolutionizing Finance,” Finance Centers at the Wharton School, July 10, 2024. Return to text
    29. Large language models may even allow for the creation of synthetic data that allows for enhancing macroeconomic nowcasting and forecasting through economic AI agents that can also help with analyzing macroeconomic trends and contribute to more informed financial decisionmaking. See Anne Lundgaard Hansen, John J. Horton, Sophia Kazinnik, Daniela Puzzello, and Ali Zarifhonarvar, “Simulating the Survey of Professional Forecasters,” SSRN (December 1, 2024), https://dx.doi.org/10.2139/ssrn.5066286. Return to text
    30. Kelly Ng, Brandon Drenon, Tom Gerken, and Marc Cieslak, “DeepSeek: The Chinese AI App That Has the World Talking,” BBC News, February 4, 2025, https://www.bbc.com/news/articles/c5yv5976z9po. Return to text
    31. For example, see IBM Newsroom, “Data Suggests Growth in Enterprise Adoption of AI Is Due to Widespread Deployment by Early Adopters, But Barriers Keep 40% in the Exploration and Experimentation Phases,” IBM, January 10, 2024, https://newsroom.ibm.com/2024-01-10-Data-Suggests-Growth-in-Enterprise-Adoption-of-AI-is-Due-to-Widespread-Deployment-by-Early-Adopters; and Jefferies Editorial Team, “Can Startups Outsmart Big Tech in the AI Race?” Jefferies, September 17, 2024, https://www.jefferies.com/insights/boardroom-intelligence/can-startups-outsmart-big-tech-in-the-ai-race. Return to text
    32. If AI agents proliferate in financial transactions, we will also need to be careful about the potential for unintended consequences such as collusion among AI agents. See Winston Wei Dou, Itay Goldstein, and Yan Ji, “AI-Powered Trading, Algorithmic Collusion, and Price Efficiency,” Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, The Wharton School Research Paper, May 30, 2024, https://dx.doi.org/10.2139/ssrn.4452704. Return to text
    33. See Request for Information on the Development of an Artificial Intelligence (AI) Action Plan, 90 Fed. Reg. 9,088 (PDF) (February 6, 2025). Return to text
    34. See Heather Domin, “AI Governance Trends: How Regulation, Collaboration, and Skills Demand Are Shaping the Industry,” World Economic Forum, September 5, 2024. Return to text
    35. For more on bias introduced in models, see Moshe Glickman and Tali Sharot, “How Human–AI Feedback Loops Alter Human Perceptual, Emotional, and Social Judgements,” Nature Human Behavior, December 18, 2024, https://www.nature.com/articles/s41562-024-02077-2; Saul Asiel Flores, “‘Bias in, Bias out’: Tackling Bias in Medical Artificial Intelligence,” Yale School of Medicine, November 18, 2024; and Adam Zewe, “Researchers Reduce Bias in AI Models While Preserving or Improving Accuracy,” MIT News, December 11, 2024. For governance in central banks, see Claudia Alvarez Toca and Alexandre Tombini, Governance of AI Adoption in Central Banks (PDF) (Basel, Switzerland: Bank for International Settlements, January 2025). Return to text
    36. See, e.g., Michael P. Wellman, “Artificial Intelligence in Financial Services (PDF)” (written testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, September 20, 2023). Return to text
    37. See Jon Danielsson and Andreas Uthemann, “AI Financial Crises,” VoxEU: CEPR, July 26, 2024. For more on algorithm collusion, see Wei Dou et al., “AI-Powered Trading, Algorithmic Collusion, and Price Efficiency” (see footnote 33). Return to text

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  • MIL-OSI Video: Banks: Change on All Fronts? | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Macroeconomic headwinds, geopolitical tensions and technological changes are converging to test the resilience of the banking sector and increase the pressure on financial institutions to quickly adapt their business models. In this context, it is clear that the banks of the future must look and operate differently from the past.

    How can the banking sector build in resilience as it navigates a time of transformational change?

    This session was developed in collaboration with Bloomberg News.

    Speakers: Bandar Bin Mohammed Bin Saoud Al-Thani, Joumanna Bercetche, Mary Callahan Erdoes, C.S. “Venkat” Venkatakrishnan, Robin Vince, Bill Winters

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
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    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=lrMPWLMgL3E

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  • MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025 to Position Floating Liquefied Natural Gas (FLNG) as a Catalyst for Gas Monetization

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

    BRAZZAVILLE, South Africa, February 18, 2025/APO Group/ —

    The inaugural Congo Energy & Investment Forum (CEIF) will feature a Hallmark Celebration of FLNG session, dedicated to acknowledging and celebrating the remarkable advancements in FLNG technology and its domestic application within the Republic of Congo.

    The session is designed to underscore the nation’s progress in harnessing FLNG solutions to bolster its energy infrastructure and economy. Attendees can anticipate in-depth analyses of current projects, insights into future initiatives and evaluations of the economic and environmental impacts of FLNG utilization.

    The inaugural Congo Energy and Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société National des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

    The Republic of Congo has made significant strides in the FLNG arena, positioning itself as a notable player in the global LNG market. In February 2024, Italian energy conglomerate Eni shipped its first LNG Cargo from its Tango FLNG unit, boasting a liquefaction capacity of 0.6 million tons per annum (MTPA). Building on this momentum, Eni launched the hull of the Nguya FLNG facility in November 2024 at Wison Heavy Industry’s shipyard in Nantong, China. This new facility is slated to add an additional 2.4 MTPA, bringing the total liquefaction capacity of the Congo LNG project to 3 MTPA by the end of 2025.

    The integration of FLNG technology is anticipated to have a transformative impact on the Republic of Congo’s energy landscape. By enabling offshore gas liquefaction, FLNG units offer a flexible and efficient means to monetize natural gas resources, facilitating exports and generating revenue. Moreover, the domestic application of FLNG is expected to enhance energy security, support industrial development and contribute to the nation’s economic diversification efforts.

    Sandra Jeque, Events & Project Director at CEIF event organizer Energy Capital & Power, stated, “The Hallmark Celebration of FLNG will provide a platform for stakeholders to reflect on these achievements, share best practices and explore collaborative opportunities to further advance FLNG initiatives. Participants will gain valuable insights into the technical, regulatory and financial aspects of FLNG projects, equipping them with the knowledge to navigate this dynamic sector.”

    MIL OSI Africa –

  • MIL-OSI USA: Capito Introduces American Investment in Manufacturing and Main Street Act

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.) recently introduced the American Investment in Manufacturing and Main Street (AIMM) Act, legislation that would reinstate the Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) measure, supporting a competitive tax code for American job creators and businesses. Reinstating EBITDA will make it easier for capital-intensive companies to raise capital or obtain financing, protect U.S. jobs and wages, and strengthen global competition.
    “After years of sustained inflation, high interest rates, and increased taxes burdening U.S. businesses due in part to the failed policies of the Biden administration, additional limitations jeopardize American manufacturers, retailers, and service providers’ ability to compete across global markets. This legislation would reinstate a needed measure to encourage industrial growth, increase jobs and wages at all levels, and contribute to America’s economy. I’m proud to support American workers and businesses by leading the introduction of this legislation, and I encourage my colleagues to join me in this effort,” Senator Capito said.
    Companion legislation was introduced in the U.S. House of Representatives by U.S. Reps. Adrian Smith (R-Neb.-03), Joe Morelle (D-N.Y.-25), Kevin Hern (R-Okla.-01), and Brad Schneider (D-Ill.-10).
    BACKGROUND:
    Prior to 2022, businesses could deduct 30% of its EBITDA. A new limitation that went into effect would limit the deduction to only EBIT. This change is an added cost to businesses environment in the U.S. and could harm global competition. This restriction harms a wide range of industries including – but not limited to – American manufacturers, broadband providers, healthcare systems, and restaurants. Without this change, businesses will on average see close to a threefold increase in their incremental tax obligations
    The legislation has been endorsed by: The National Association of Manufacturers, Business Roundtable, Global Business Alliance, RAIN Coalition, Association of Equipment Manufacturers, West Virginia Manufacturers Association, Rural Broadband Association (NTCA), Americans for Tax Reform, Inspire Brands, National Restaurant Association, American Petroleum Institute, National Taxpayers Union, Novelis, and Charter Communications.
    Click here to read what others are saying about the legislation.
    Click here for full text of the legislation.

    MIL OSI USA News –

  • MIL-OSI Russia: Financial News: Banks Prevent Twice as Many Fraudulent Transactions in 2024

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    However, cyber fraudsters are not abating their activity. They managed to steal 27.5 billion rubles from bank clients, which is 74% more than in 2023. Last year, the Bank of Russia took a number of measures that improved the quality and speed of interaction between the regulator, banks andlaw enforcement agencies for the exchange of data on fraudulent transactions. Now indatabase The regulator receives information about thefts even if the victim immediately contacts the police without disputing the transaction at his bank.

    In 2024, the Bank of Russia initiated the blocking of almost 172 thousand phone numbers of fraudsters, as well as just over 46 thousand fraudulent websites and pages on social networks.

    Preview photo: Janews / 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 = 23382

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Moscow Exchange Total Return Index Reaches Historical Maximum

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    The Moscow Exchange Total Return Index set a historical record, at the close of trading on February 17, 2025, its value was 8,199.68 points. This is the highest value of the index since the start of calculation in January 2004. The previous maximum was recorded on October 20, 2021 at 8,125.76 points.

    The Moscow Exchange Total Return Index reflects the change in the total value of Russian shares taking into account dividend payments, which allows for a more accurate reflection of the return that can be obtained on the Russian market over a certain period of time.

    The number of securities in the index is floating – at the moment, the index calculation base includes 49 shares of Russian public companies from various sectors of the economy.

    Boris Blokhin, Managing Director for the Stock Market at Moscow Exchange:

    “The dynamics of the Moscow Exchange Total Return Index demonstrate that over long periods, the stock market yield significantly outpaces both inflation and the most conservative and reliable savings instruments. It is important that today an investor does not have to collect such a portfolio of securities manually. The stock market offers exchange-traded funds from professional managers for this indicator, which provide the opportunity to purchase a ready-made portfolio of the most liquid Russian stocks in one click.”

    Today, four exchange-traded funds on the Moscow Exchange Total Return Index are available on the Moscow Exchange: BSSR (UK BKS), EKMH (UK VIM Investments), SBMH (UK First) and TMOS (T-capital) of Russian management companies.

    Detailed information about the indices is available on the Moscow Exchange website.

    Moscow Exchange is the largest Russian exchange, the only multifunctional platform in Russia for trading shares, bonds, derivatives, currencies, money market instruments and commodities. The exchange calculates over 400 different financial market indicators: a family of stock indices, a family of bond indices, public sector indices, pension savings market indices, an innovation index, a volatility index, commodity indices, a real estate index, currency fixings, and money market indicators.

    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. MOEX.K.M.M.

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  • MIL-OSI Global: The German election explained through seven essential questions

    Source: The Conversation – UK – By Gabriele Abels, Jean Monnet Professor for Comparative Politics & European Integration, University of Tübingen

    Germany is holding a federal election on February 23 – a snap vote called by chancellor Olaf Scholz when his coalition government fell apart at the end of last year. Parties are running to win seats in the national parliament, or Bundestag. And with an unusual level of interest from onlookers outside the country, including the world’s richest man, The Conversation asked Gabriele Abels, the Jean Monnet professor for comparative politics and European integration at the University of Tübingen, to prime us on the basics, via seven essential questions.

    1. Who are the main parties running in this election?

    The parties standing in the federal election are, from left to right on the political spectrum: Linke (the Left), SPD (social democrats), Greens, FPD (liberals), CDU/CSU (conservatives), AfD (right-wing extremist/populist).

    There is also the Buednis Sahra Wagenknecht (BSW), but this party is not so easy to fit into the left-right spectrum. The BSW holds leftist positions on social policy issues but is also anti-migration and opposed to sanctions against Russia and against military support for Ukraine.

    2. When will we know the results?

    It will take several days after February 23 to confirm the final results of the election.

    Based on the exit polls we will have fairly reliable results that evening but there may still be some uncertainty. It depends on how many people vote by post (a trend which is on the rise) and on how the smaller parties fare.

    There are three such parties – Linke, FDP and BSW – hovering around a 5% vote-share in pre-election polls. This is the threshold for qualifying for any seats in parliament at all, so whether or not the three make it past 5% will have quite an effect on the overall composition of the Bundestag and the distribution of seats among the parties in parliament.

    There is an additional rule: parties winning at least three districts (basic mandate clause) qualify for the Bundestag and will get seats according to their share of party votes. The Linke is investing its hopes in this option.

    3. Who is most likely to become chancellor?

    According to all opinion polls, the conservatives (CDU/CSU) will win the election and become the biggest party in government. This means that their lead candidate Friedrich Merz will become the next chancellor.

    4. Will one party run the government?

    No party will have enough seats to form a government alone, given that the German system makes it extremely difficult to do so, by design. A coalition needs to be formed comprising parties that together hold more than 50% of the seats in the Bundestag.



    Read more:
    AfD: how Germany’s constitution was designed with the threat of extremism in mind

    Even when we have the full results, forming a new government will, most likely, take some time. Talks between parties will start immediately after the election, but it might take several months to put a government together. It depends on the numbers at play and the political arithmetic – essentially the extent to which different combinations of parties agree or disagree on various policy positions.

    During a period in the 1950s, when Konrad Adenauer was chancellor, there was an option to have a single-party government. But even he preferred a coalition. Other than that, there has always been the need to form a coalition after an election.

    Unlike the Nordic countries, we in Germany do not have a tradition of minority governments since they are considered to be too weak and unstable. Germans prefer governments which are backed by a clear majority in the Bundestag.

    5. Why does Germany have a system that makes coalitions the norm?

    It is partly political culture to prefer stable majorities and emphasise compromise. But the proportional voting system and increased political fracturing also play a part in delivering many different parties into the Bundestag.

    Until the early 1980s there were usually three parties (conservative, social democrats and liberals). Today, we have seven parties in the Bundestag. Proportional voting gives new parties more possibilities to win seats, while the 5% threshold is a barrier against excessive fragmentation.

    6. We hear a lot about the AfD – but will it be in government?

    No – at least, not this time. There is what we call a brandmauer (firewall), meaning that, so far, none of the other parties is willing to form a government with the AfD. The most likely partner would be the conservatives. Yet, their lead candidate Merz is very outspoken that cooperation with the AfD would mean selling out the conservative soul. Given that the AfD is becoming more and more radical, this is not likely to change in the near future.

    However, there is already a level of cooperation between the AfD and other parties at the local level and even in some state parliaments, especially in East German Länder (states). Often, new patterns of coalition formation are tried out in Länder parliaments and later serve as models for the federal level. The AfD is hoping this will be the case for them.

    7. How important is this election in historical context?

    I would not call this election historic on the scale of the one that just took place in the US. But this election is nevertheless important – and is perceived as important by voters in terms of the future of Germany and its economy.

    Migration and the economy are the top issues and there is a strong sense of frustration as well as a growing distrust in politics. The majority of voters are happy about the snap election given that the coalition led by Olaf Scholz was no longer efficient and there was constant in-fighting.

    However, given that this election has been called at short notice, it’s not clear that turnout will match the current strength of feeling. There has not been much time to register for a postal vote and parties have had only a brief campaign window to win over voters. Which of them will be able to mobilise their voters and also non-voters (recently between 25% and 30% of the electorate will be a crucial deciding factor. Lately the AfD has been successful in terms of mobilising non-voters and also at mobilising young voters. That said, older voters make up the majority, so a lot hangs in the balance.

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

    – ref. The German election explained through seven essential questions – https://theconversation.com/the-german-election-explained-through-seven-essential-questions-247945

    MIL OSI – Global Reports –

  • MIL-OSI Global: Supersonic passenger aircraft may be returning – here’s what it means for the climate

    Source: The Conversation – UK – By Kshitij Sabnis, Lecturer in Aerospace Engineering, Queen Mary University of London

    The US aerospace company Boom Supersonic recently announced it has successfully tested its latest aircraft, the XB-1. The company is developing a larger plane and aims to begin passenger flights at supersonic (faster than sound) speed within the next five years, and claims it already has orders from a handful of airlines.

    However, with ever-increasing scrutiny on the environmental consequences of flying, it is important to consider how supersonic aviation may affect the industry’s ability to meet its ambitious net zero by 2050 target.

    The latest test flight represents an important stage in the development of supersonic aircraft that minimise their characteristic “sonic boom” – the considerable noise generated as the shock waves travelling along with a supersonic aircraft pass over people on the ground.

    Boom Supersonic has carefully designing the aircraft shape to reduce this noise pollution. It did this by exploiting a phenomenon known as “Mach cutoff”, where air temperatures in the atmosphere cause shock waves to reflect upwards rather than towards the ground.

    Supersonic aircraft won’t receive certification to fly over land if they are too noisy, and overland flights are essential for their commercial viability. Indeed, failing to receive such certification limited Concorde’s routes to London-New York and Paris-New York, ultimately contributing to its demise. These recent noise improvements pave the way for Boom Supersonic to progress its larger 80-seat supersonic airliner, Overture. If all goes to plan, Overture will cruise at 1.7 times the speed of sound and could fly from London to New York in just 3.5 hours.

    Other organisations working on supersonic flight are making similar progress. US firm Spike Aerospace is developing a smaller business jet, for instance, while Nasa and defence and aerospace firm Lockheed Martin plan to begin test flying their supersonic X-59 later this year. There is every indication that planes like these are on their way back, more than two decades after Concorde last took to the skies.

    Concorde’s maiden flight back in 1969. It flew commercially between 1976 and 2003.
    Andre Cros / wiki, CC BY-SA

    Shock waves increase aerodynamic drag

    The key to understanding the environmental effects of supersonic aircraft is that, whenever its speed exceeds the speed of sound, shock waves form around the aircraft. These shock waves significantly increase the aerodynamic drag, and so more fuel needs to be burned to compensate for the drag force. Indeed, it is estimated that up to ten times more fuel needs to be burned by a supersonic aircraft compared to the equivalent subsonic airplane for every passenger mile.

    At supersonic speeds, sound itself is a drag.
    Chabacano / wiki, CC BY-SA

    The cost of this extra fuel is why typical aircraft speeds have remained pretty constant at around 85% of the speed of sound for several decades. It also leads to greater greenhouse gas emissions – as much as five to seven times more than subsonic aircraft.

    In fact, the situation may be even more stark. Supersonic aircraft tend to fly at high altitudes (Concorde flew at 60,000ft (18km) rather than the 40,000ft (12km) typical for most passenger jets) to take advantage of lower turbulence levels. This means their emissions tend to remain in the atmosphere for longer.

    Supersonic and sustainable?

    There are considerable efforts to align supersonic aircraft development with the aviation industry’s environmental ambitions. For instance, the new engines designed by Boom Supersonic are powered entirely by “sustainable aviation fuels” (Saf) which are direct replacements for traditional jet fuels that are made from renewable raw materials, often used cooking oil or crop residues. Due to its exclusive use of Saf, the Overture is advertised as having a zero-carbon footprint.

    A concept image of the Overture, the plane Boom Supersonic ultimately wants to build.
    Boom Supersonic, CC BY-SA

    In reality, the situation is more complex. Saf is often produced from edible crops and has been linked to deforestation – the total land required to power all of commercial aviation in this way is impractically immense.

    To address this longer-term problem, it is necessary to look towards alternative fuel sources. While hydrogen or electric power is being developed for regular aircraft, for now they aren’t developed enough to ensure a plane reaches supersonic speeds. Instead, one possibility is e-kerosene, a synthetic fuel generated from hydrogen and carbon dioxide using renewable electricity.

    Despite all these technological advances, a supersonic aircraft still cannot beat physics. Shock waves, and their associated drag, will still exist. So, a single supersonic aircraft will still produce considerably more carbon emissions than its subsonic counterpart.

    Beyond carbon emissions, contrails also have an effect. These are thin clouds of water vapour produced by aircraft exhausts, which can trap heat in the atmosphere the same way as greenhouse gases. These contrails are thought to have twice the impact of carbon emissions, or perhaps even more, so it is essential to take their effects into account. For now, we simply don’t know enough about contrails, especially at much higher altitudes, to definitively say how supersonic aircraft will affect the environment.

    Given the costs involved, supersonic aircraft will account for only a very small percentage of aircraft worldwide. The overall impact on the environment, in comparison to the tens of thousands of subsonic aircraft currently in operation, will be moderate.

    There is perhaps one environmental upside. The research and development activity making supersonic aviation more environmentally friendly (such as developments in fuel and propulsion technology) will likely yield technologies that transfer to subsonic aircraft too. This should help to address the much broader problem of environmental damage caused by the aviation industry as a whole.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

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

    – ref. Supersonic passenger aircraft may be returning – here’s what it means for the climate – https://theconversation.com/supersonic-passenger-aircraft-may-be-returning-heres-what-it-means-for-the-climate-250116

    MIL OSI – Global Reports –

  • MIL-OSI Global: Minimum alcohol pricing: what we found in Wales after five years

    Source: The Conversation – UK – By Katy Holloway, Professor of Criminology, University of South Wales

    Almost five years ago, a new law came into force in Wales making it illegal to sell alcohol for less than 50p per unit.

    Since its introduction, we have been evaluating the effects of minimum alcohol pricing and our findings have recently been published. These will help Welsh Government ministers decide on the future of the policy beyond its six-year trial period.

    The price of many alcoholic drinks in Welsh shops increased in March 2020. Most noticeably, large three litre bottles of strong white cider (containing 22 units of alcohol) rose from less than £5 to £11.

    The price of some beers, wines and spirits also increased, though to a lesser extent. In pubs, clubs and restaurants, the introduction of minimum pricing for alcohol made little difference, as prices were already well above the 50p per unit threshold.

    The main goal of the Public Health (Minimum Price for Alcohol) (Wales) Act 2018 is to reduce alcohol-related harm and protect the health of those regularly drinking more than the recommended 14 units per week.

    Contrary to popular belief, minimum pricing for alcohol is not a tax. This means that any extra money from higher prices goes to the retailers and producers, not to the Welsh government.

    While many people enjoy drinking alcohol without any problem, some patterns of alcohol use are associated with significant physical, mental and social harms. It costs UK society more than £27 billion a year through a combination of health, crime, workplace and social welfare costs.

    Research has shown that making alcohol less affordable can reduce consumption and hence related harms. The World Health Organization considers minimum pricing one of its “best buys” for tackling harmful alcohol use.

    While minimum alcohol pricing is in place in several countries, policies differ. In 2018, Scotland became the first country to introduce a national minimum price for all types of alcohol. Two years later, Wales followed suit.

    The Republic of Ireland introduced minimum pricing in January 2022, while Northern Ireland has been engaged in consultation on the policy for several years. There are no plans for the introduction of minimum pricing for alcohol in England.

    The policy was introduced in Wales primarily to protect hazardous and harmful drinkers, who tend to consume more low-cost, high-strength alcohol. But evaluating its effect has been complex, especially due to the COVID pandemic, which disrupted drinking habits and the availability of alcohol. Other economic factors, including the cost of living crisis, have also influenced affordability.

    What we found

    Many of the findings within the 11 reports from our Welsh evaluation have strong resonance with those elsewhere, particularly those of the final Scottish evaluation.

    Drawing from our research, we have five important findings. First, implementation in Wales has been smooth. Retailers have largely complied with the law, and enforcement has been effective.

    Second, certain cheap alcohol products have disappeared. Large bottles of strong cider, for example, are now rare. There have also been shifts in promotions and product availability.

    Third, there are indications that overall alcohol consumption in Wales has declined. While it is difficult to measure directly, purchasing data suggests a reduction.

    Fourth, concerns about unintended consequences have not materialised significantly. Predictions of a rise in home brewing, substance switching, shoplifting and cross-border purchasing have not been widely observed. While some people living near the border have bought alcohol in England, this appears to be opportunistic rather than nationwide.

    Finally, some drinkers have changed their purchasing habits. A minority have switched from cider to wine or spirits as price differences narrowed. Others, particularly those on low incomes, experienced further struggles in financially maintaining their drinking habits.

    Our recommendations

    Minimum pricing for alcohol is well supported by evidence. It is not without its critics, especially those citing continued trends in actual numbers of alcohol-related deaths. Its implementation in Wales has noticeable effects, most of which are positive.

    Based on our findings, we recommend that the Welsh Government retains minimum alcohol pricing. But we also recognise the need for some adjustments.



    Read more:
    Alcohol prescribing for severe withdrawal – what the research shows

    The 50p per unit price, set over a decade ago, should be reviewed. Our evidence suggests an increase in price is needed to maintain the policy’s effectiveness. We believe the policy needs to be accompanied by well-funded treatment and support services for people experiencing alcohol-related difficulties.

    Policymakers must also acknowledge the disproportionate effect of minimum alcohol pricing on those with the lowest incomes. But this should not be a reason to abandon it. We do not advocate for making unhealthy foods cheaper to tackle food poverty. The same principle applies to alcohol policy.

    Minimum alcohol pricing targets affordability rather than addressing all aspects of alcohol harm. It is not a silver bullet, and so should only be one component of comprehensive strategy delivery. If combined with other policy measures and social support, it has the potential to significantly contribute to reductions in alcohol-related harm in Wales.

    Katy Holloway currently receives funding from Health Care Research Wales and Welsh Government. She has previously received funding from a wide range of organisations including NIHR, Home Office, and Ministry of Justice.

    Wulf Livingston receives funding from Welsh and Scottish Governments, World Health Organisation, National Institute for Health Research, Health Boards, alcohol and drug commissioning partnerships and third sector charities. He has previously recieved funding from many of the aforementioned, and in addition ERSC, Local Authorities, Pocklington Trust, Alcohol research UK and Welsh Universities WIN Fund.

    – ref. Minimum alcohol pricing: what we found in Wales after five years – https://theconversation.com/minimum-alcohol-pricing-what-we-found-in-wales-after-five-years-248189

    MIL OSI – Global Reports –

  • MIL-OSI Global: Cottontail review: how a man’s journey through grief mirrors our search for peace – by an expert in death and grieving

    Source: The Conversation – UK – By Chao Fang, Lecturer in Sociology, Deputy Director of the Centre for Ageing and the Life Course, University of Liverpool

    Cottontail (コットンテール), a newly released Japanese film, tells the touching and relatable story of Kenzaburo (Ken), a man in his late middle age grieving the loss of his wife, Akiko, after a long illness. To honour her dying wish, he embarks on a journey to take her ashes to the Lake District in northern England – a place deeply meaningful to her.

    It was not just the beauty of the landscape that drew her, but also its connection to Peter Rabbit, a character she had loved since childhood and where she had made cherished memories with her parents.

    What begins as a cross-continental trip with his son and family soon unfolds into a deeply personal and solitary quest for Ken. As a husband and father, he struggles to connect with his son, confronting the unspoken emotional walls that make expressing grief so profoundly challenging. Through this journey, Ken seeks not just peace for his loss but also a way to reconcile the past with the present.

    I found Cottontail a beautifully delicate film with a thought-provoking narrative. As an expert in ageing, death and dying, particularly in Japan, I also found its depiction of grief realistic.

    Like Ken, many of us may feel disbelief or denial when facing loss. Memories of our loved ones can wash over us in overwhelming waves, catching us off guard in the most unexpected moments. Whether it’s a familiar scene that evokes a flood of emotions, a conversation with a friend, or even a fleeting dream, the smallest reminders – both joyful and painful – can surface at any time.

    The root of these challenges lies in navigating a world that no longer includes our loved one. Psychiatrist Colin Parkes described bereavement as a psychosocial transition, a profound shift requiring adaptation to a new reality.

    Grief, he suggested, emerges from the breakdown of the world we take for granted, the beliefs and expectations we hold about the future and our plans. When loss occurs, this framework collapses, forcing us to relearn how to live in a world forever changed.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Yet, grief is not simply about building a new life without the person we’ve lost.

    Over a century ago, the founder of psychoanalysis Sigmund Freud emphasised the importance of gradually detaching from the pain of loss and redirecting our emotional energy toward new relationships and pursuits. Today, in a society that often prioritises efficiency and productivity, there’s an unspoken expectation to “complete” the process of grief and quickly return to “normal”.

    But grief resists such timelines. As I’ve argued elsewhere, healing is not about moving on but learning to carry loss forward.

    This is poignantly illustrated in Cottontail: for Ken, scattering Akiko’s ashes in England is not about leaving her or the life they shared behind, but about learning to live with loss, weaving memories of her into his ongoing life.

    Cottontail trailer.

    Rewriting the book of life

    To grieve is like rewriting the book of our lives – a painstaking process of revisiting, revising, and reimagining a narrative that once felt complete. The concept of “narrative identity” captures this: not erasing the past but weaving it into a new story that continues to unfold, where love and loss coexist, shaping who we are now and who we will become.

    Rewriting life after loss is never a solitary journey – it’s shared with others. Ken’s grief is intertwined with his strained bond with his son, Toshi.

    Preoccupied with work, Ken had neglected their relationship, leaving Toshi yearning for deeper connection. Now, drowning in grief, Ken faces the challenge of reconciling his own pain while rebuilding their bond – a dilemma familiar to many experiencing loss.

    A key theme in Ken’s grief journey is the “stiff upper lip” mentality – an emotional restraint that stops him from expressing feelings or accepting support from his son. This stoic attitude, common among older men but seen across genders, ages and cultures, often comes at the cost of hidden stress.

    My research with bereaved older adults shows that suppressing emotions isolates individuals and blocks external support, making healing and connection harder.

    On his journey, Ken meets a grieving father and daughter who openly acknowledge their emotions and support each other. Their willingness to express their feelings shows the power of emotional literacy – the ability to recognise and communicate emotions.

    This highlights the importance of grief literacy not just for individuals, but for wider social networks. When people can understand and support one another’s grief, finding peace with loss becomes more attainable, and the process of rewriting life after loss becomes a collective endeavour.

    The film concludes with Ken chasing a rabbit by Lake Windermere for his granddaughter, joined by Toshi’s family. For Ken, the rabbit is not just Cottontail or a memory of Akiko – it’s a symbol of hope, a reminder that moving forward is possible, with renewed bonds and an enduring love.

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

    – ref. Cottontail review: how a man’s journey through grief mirrors our search for peace – by an expert in death and grieving – https://theconversation.com/cottontail-review-how-a-mans-journey-through-grief-mirrors-our-search-for-peace-by-an-expert-in-death-and-grieving-250198

    MIL OSI – Global Reports –

  • MIL-OSI Global: Shein could be a shot in the arm for the London Stock Exchange – but the fashion giant might not like the added scrutiny

    Source: The Conversation – UK – By Isaac T. Tabner, Senior Lecturer in Finance, Director of the MSc Finance, University of Stirling

    T. Schneider/Shutterstock

    Fast fashion giant Shein’s mooted flotation on the London Stock Exchange (LSE) could be larger than any stock exchange listing seen in Europe in the last year. Coming at a time when the LSE is struggling to attract new listings, with some firms migrating to other exchanges, this could be a welcome boost. So it is perhaps unsurprising that the Chinese-founded company has been courted by the UK government, the LSE and those whose role it is to champion the City of London.

    Yet there are ongoing concerns about the controversial business model and practices of Shein, whose founder Chris Xu relocated himself and the company’s headquarters to Singapore in 2022. These were exacerbated when Shein’s lawyer struggled to tell the UK’s business and trade parliamentary committee whether the company uses cotton from China.

    Campaign group Stop Uyghur Genocide recently said it will seek a judicial review if the UK regulator, the Financial Conduct Authority (FCA), approves the LSE listing. And a “Say No to Shein” campaign has nearly 50,000 signatures on the activist website 38 Degrees. (Shein says it strictly prohibits forced labour in its supply chain globally.)

    More idealistic observers might question whether it is really a good idea for the UK to be courting such a controversial listing. The UK, after all, is a second-choice destination after Shein’s ambition to list on the US market failed – amid concerns about forced labour, among other things.

    So what are the claims against Shein? On environmental, social and governance (ESG) grounds the firm is controversial. Although Shein says it is working hard to reduce its environmental impact, its business model – supplying items cheap enough to be discarded after a single use – is at odds with a more sustainable society and thus problematic for the “E” in ESG.

    Some people add an additional “E” (for ethics) to the acronym. Concerns raised about the human and employee rights of workers in Shein’s supply chain and Shein’s reluctance to talk about them, even to a parliamentary committee, highlight both the “social” and the “ethical”. For its part, the company said last year it was actively working to improve its suppliers’ practices.

    If less than 10% of Shein’s equity is floated, which is the what company is proposing, it will still be controlled by its founders and majority shareholders as if it had remained a fully private company. An LSE listing would normally compel Shein to either comply with the UK corporate governance code, or explain why it did not. But dispersed minority investors with a combined ownership of less than 10% would have little or no say in the governance of a business that remained more than 90% owned and controlled by a few founding investors.

    Therefore, a listing of 10% or less would also raise concerns among minority investors about the “G” for governance. This is particularly true if their holding is involuntary, for example as part of an employee pension scheme. Shein said in a social impact report, however, that it has set up a sustainability committee to provide an extra layer of corporate governance.

    Shein’s lawyer struggled to answer questions on the source of its cotton.

    Given these issues, who gains and who loses from the proposed flotation? Shein itself could of course be among the winners. Common motives for a stock exchange listing are raising capital to finance new investment or giving founding shareholders an opportunity to cash out. Listing can also make mergers and acquisitions more straightforward and incentivise employees to stay with the company by offering preferential terms for buying shares.

    There is also no doubt that a listing would be presented as a positive sign that the UK is open and attractive for business. It would generate an initial windfall, and ongoing revenue for the LSE, plus substantial fees for financial and legal service providers based in the City of London.

    Downsides

    As a private company, Shein has kept details of its financial situation out of the public domain. If the LSE listing does go ahead (which is by no means certain), the company will be required to give detail on its legal and reputational risks, as well as its financial accounts.

    This will let prospective investors and others involved in the listing estimate a pricing range for the flotation. Recent headlines suggest a total equity valuation between US$50 billion and US$66 billion (£40 billion and £52 billion), yet if the listing does not go ahead it is impossible to estimate its market value with any reliability using information that is currently in the public domain.

    Shein’s apparent desire for secrecy, and its reluctance to publish detailed financial data, suggests that its founders and controlling investors may not be comfortable with the increased scrutiny that a listing will require. A 2023 report from the company, however, claimed Shein was committed to “continued progress and transparency” in terms of sustainability and its social impact.

    If credible revelations about controversial business practices such as forced labour or illegal working conditions emerge, this is likely to damage the stock price. No doubt outside investors would have plenty of incentive to scrutinise Shein’s activities – at least, more than the consumer buying a £10 dress for a night out.

    Perhaps a cautionary example can be drawn from the UK’s much smaller home-grown fast-fashion contender, Boohoo.com (now worth around £400 million after peaking at more than £5 billion in 2020). After an initial stellar performance, the firm’s stock price never recovered from reports in 2020 about workers in its UK supply chain being paid £3.50 an hour.

    An independent review published the same year found many failings in the company’s UK supply chain – Boohoo Group responded by pledging to implement the recommendations of the review in full. However, a BBC Panorama investigation indicated that it had not fulfilled its pledges. And at under 30 pence per share, its stock price is down more than 90% since the scandal first broke. (After the programme, Boohoo insisted that it had implemented “every one” of the independent review’s recommendations.)

    Shein’s listing – if it goes ahead – will open its inner workings to public scrutiny in a way that it has never experienced before. Already, people who have never engaged with fast fashion are discussing the business practices of the company.

    If awareness is the first stage of progress, such increased scrutiny can only be a good thing for those concerned about the darker side of the fast fashion industry.

    Isaac T. Tabner is a member of the following professional bodies:

    CFA Institute,
    CFA Society of the UK,
    Personal Finance Society and Chartered Insurance Institute.

    – ref. Shein could be a shot in the arm for the London Stock Exchange – but the fashion giant might not like the added scrutiny – https://theconversation.com/shein-could-be-a-shot-in-the-arm-for-the-london-stock-exchange-but-the-fashion-giant-might-not-like-the-added-scrutiny-249541

    MIL OSI – Global Reports –

  • MIL-OSI Global: How banks, lawyers and lobbyists in the west help post-Communist kleptocrats stay rich

    Source: The Conversation – UK – By John Heathershaw, Professor in International Relations, University of Exeter

    ‘Londongrad’ is a nickname for London that encapsulates the British capital’s popularity as a haven for wealthy Russians in the post-Soviet era. Drone Motion Stock / Shutterstock

    Kleptocracy, a term derived from the Greek for “rule by thieves”, describes a system where business success and political power are inextricably entwined. Political elites exploit their position to siphon off public wealth, entrenching their power through corruption, patronage and repression.

    However, kleptocracy is not just a system of domestic corruption. It typically involves a transnational network of political elites and so-called professional enablers who work together to extract wealth and project power.

    The ability of kleptocrats to loot state resources and evade accountability depends on an ecosystem of banks, lawyers, lobbyists, intelligence agencies and PR firms that provide the financial, legal and reputational tools to legitimise stolen wealth.

    Our new book, Indulging Kleptocracy, analyses many cases of such professional enabling in the UK for elites whose wealth originates in post-Soviet countries such as Azerbaijan, Kazakhstan and Russia. We uncovered examples of this activity using in-depth case studies that drew on court documents and correspondence with the enablers themselves.

    We found that, on countless occasions, British professionals have found loopholes in the rules, defeated new measures against money laundering, exploited the lack of transparency in universities and political parties and challenged the efficiency and effectiveness of the rule of law.

    UK properties worth tens of millions of pounds have been purchased for oligarchs and kleptocrats. And London corporate intelligence firms and lawyers have acted against journalists and researchers on behalf of their post-Soviet elite clients.

    Political parties, parliamentary groups and some of Britain’s top universities have even accepted donations from individuals associated with kleptocracy. In doing so, they have indulged kleptocrats much like the Catholic church once sold indulgences – offering absolution for a price.

    These services extend the wealth, status and influence of these elites into the UK and further afield. The phenomenon of “Londongrad” – a moniker to denote the British capital’s hosting of Russian and Eurasian oligarchs – is not merely about the amount of post-Soviet money laundered there. It incorporates a much wider offering of social and reputational goods, and political and security services.

    Indulging Kleptocracy was published on February 4 by Oxford University Press.
    John Heathershaw, Tena Prelec & Tom Mayne, CC BY-NC-ND

    Sustaining kleptocracy

    Professional enablers do not simply move money, and they don’t merely supply their services. They create the structures that sustain kleptocracy, embedding it into the political and economic fabric.

    The overall picture from the nine indulgences we study in our book, from “hiding money” (banking) to “silencing critics” (defamation law), is of regulators outgunned by the private sector. The professions are driven by market incentives, but their adherence to professional ethical standards is inconsistent.

    Enablers aren’t usually accessories to crimes. They may be acting downstream from grand corruption and are typically compliant with the law. But, in most cases, they appear to be either aware of who they are acting for or wilfully unwitting. They either justify their work by convoluted arguments or simply do not carry out effective due diligence on their clients.

    With Russia’s full-scale invasion of Ukraine, the British government introduced a large number of sanctions against Russian entities. It also passed two acts of parliament in 2022 and 2023 to counter illicit financial activity from Russia. But most enabling is not currently considered criminal and cannot easily be legislated out of existence.

    The issue of indulging in kleptocracy is indicative of a general problem of self-regulation in global financial centres, tax havens and other secrecy jurisdictions that arose with the end of empires in the second half of the 20th century.

    At that time, former British colonies like the British Virgin Islands and Cyprus were looking to broaden their economies into the services sector. This coincided with the end of the Soviet empire, when the wealthy and their capital were flying out of Russia and Eurasia.

    How to indulge no more

    Stopping the indulgence of kleptocracy requires moving beyond piecemeal reforms and treating it as the organised criminal enterprise it is. We suggest designating “kleptocratic enterprises” as organised crime and thereby implicating enablers as part of criminal networks. Across the world, there needs to be transparency from charities, universities and political parties.

    There should be more protection for investigators and whistleblowers. And governments could do more to stimulate the market in for-profit asset recovery.

    In 2020, US$740 million (£598 million) of real estate was seized in Spain from Rifaat al-Assad, the uncle of Syria’s former president Bashar al-Assad. This case involved private sector expertise and followed civil society investigations.

    Without such action, the transformation to a world where kleptocratic wealth and influence sit easily within democracies will continue apace. Even the perception of a connection should be subjected to proper scrutiny: Tulip Siddiq, the UK’s Treasury minister responsible for anti-corruption, recently resigned after her family and alleged financial links to the deposed kleptocratic regime in Bangladesh were highlighted.

    These connections, which the government’s ethics watchdog found not to be in breach of the ministerial code, had been known for years before they became a story. But effective PR campaigns, clever legal arguments and complex financial structures mean that many cases of kleptocratic wealth are never exposed. It’s time to uncover what professional enablers do for kleptocrats.

    John Heathershaw receives funding from the UK’s Foreign Commonwealth and Development Office’s Anti-Corruption Evidence programme. He is affiliated with the Illicit Finance Working Group of the UK Anti-Corruption Coalition.

    Tena Prelec receives funding from the UK’s Foreign Commonwealth and Development Office’s Anti-Corruption Evidence programme. She is affiliated with the Illicit Finance Working Group of the UK Anti-Corruption Coalition

    Tom Mayne receives funding from the UK’s Foreign Commonwealth and Development Office’s Anti-Corruption Evidence programme. He is affiliated with the Illicit Finance Working Group of the UK Anti-Corruption Coalition

    – ref. How banks, lawyers and lobbyists in the west help post-Communist kleptocrats stay rich – https://theconversation.com/how-banks-lawyers-and-lobbyists-in-the-west-help-post-communist-kleptocrats-stay-rich-248973

    MIL OSI – Global Reports –

  • MIL-OSI Global: Supersonic passenger aircraft may be returning – here’s what that would mean for the climate

    Source: The Conversation – UK – By Kshitij Sabnis, Lecturer in Aerospace Engineering, Queen Mary University of London

    The US aerospace company Boom Supersonic recently announced it has successfully tested its latest aircraft, the XB-1. The company is developing a larger plane and aims to begin passenger flights at supersonic (faster than sound) speed within the next five years, and claims it already has orders from a handful of airlines.

    However, with ever-increasing scrutiny on the environmental consequences of flying, it is important to consider how supersonic aviation may affect the industry’s ability to meet its ambitious net zero by 2050 target.

    The latest test flight represents an important stage in the development of supersonic aircraft that minimise their characteristic “sonic boom” – the considerable noise generated as the shock waves travelling along with a supersonic aircraft pass over people on the ground.

    Boom Supersonic has carefully designing the aircraft shape to reduce this noise pollution. It did this by exploiting a phenomenon known as “Mach cutoff”, where air temperatures in the atmosphere cause shock waves to reflect upwards rather than towards the ground.

    Supersonic aircraft won’t receive certification to fly over land if they are too noisy, and overland flights are essential for their commercial viability. Indeed, failing to receive such certification limited Concorde’s routes to London-New York and Paris-New York, ultimately contributing to its demise. These recent noise improvements pave the way for Boom Supersonic to progress its larger 80-seat supersonic airliner, Overture. If all goes to plan, Overture will cruise at 1.7 times the speed of sound and could fly from London to New York in just 3.5 hours.

    Other organisations working on supersonic flight are making similar progress. US firm Spike Aerospace is developing a smaller business jet, for instance, while Nasa and defence and aerospace firm Lockheed Martin plan to begin test flying their supersonic X-59 later this year. There is every indication that planes like these are on their way back, more than two decades after Concorde last took to the skies.

    Concorde’s maiden flight back in 1969. It flew commercially between 1976 and 2003.
    Andre Cros / wiki, CC BY-SA

    Shock waves increase aerodynamic drag

    The key to understanding the environmental effects of supersonic aircraft is that, whenever its speed exceeds the speed of sound, shock waves form around the aircraft. These shock waves significantly increase the aerodynamic drag, and so more fuel needs to be burned to compensate for the drag force. Indeed, it is estimated that up to ten times more fuel needs to be burned by a supersonic aircraft compared to the equivalent subsonic airplane for every passenger mile.

    At supersonic speeds, sound itself is a drag.
    Chabacano / wiki, CC BY-SA

    The cost of this extra fuel is why typical aircraft speeds have remained pretty constant at around 85% of the speed of sound for several decades. It also leads to greater greenhouse gas emissions – as much as five to seven times more than subsonic aircraft.

    In fact, the situation may be even more stark. Supersonic aircraft tend to fly at high altitudes (Concorde flew at 60,000ft (18km) rather than the 40,000ft (12km) typical for most passenger jets) to take advantage of lower turbulence levels. This means their emissions tend to remain in the atmosphere for longer.

    Supersonic and sustainable?

    There are considerable efforts to align supersonic aircraft development with the aviation industry’s environmental ambitions. For instance, the new engines designed by Boom Supersonic are powered entirely by “sustainable aviation fuels” (Saf) which are direct replacements for traditional jet fuels that are made from renewable raw materials, often used cooking oil or crop residues. Due to its exclusive use of Saf, the Overture is advertised as having a zero-carbon footprint.

    A concept image of the Overture, the plane Boom Supersonic ultimately wants to build.
    Boom Supersonic, CC BY-SA

    In reality, the situation is more complex. Saf is often produced from edible crops and has been linked to deforestation – the total land required to power all of commercial aviation in this way is impractically immense.

    To address this longer-term problem, it is necessary to look towards alternative fuel sources. While hydrogen or electric power is being developed for regular aircraft, for now they aren’t developed enough to ensure a plane reaches supersonic speeds. Instead, one possibility is e-kerosene, a synthetic fuel generated from hydrogen and carbon dioxide using renewable electricity.

    Despite all these technological advances, a supersonic aircraft still cannot beat physics. Shock waves, and their associated drag, will still exist. So, a single supersonic aircraft will still produce considerably more carbon emissions than its subsonic counterpart.

    Beyond carbon emissions, contrails also have an effect. These are thin clouds of water vapour produced by aircraft exhausts, which can trap heat in the atmosphere the same way as greenhouse gases. These contrails are thought to have twice the impact of carbon emissions, or perhaps even more, so it is essential to take their effects into account. For now, we simply don’t know enough about contrails, especially at much higher altitudes, to definitively say how supersonic aircraft will affect the environment.

    Given the costs involved, supersonic aircraft will account for only a very small percentage of aircraft worldwide. The overall impact on the environment, in comparison to the tens of thousands of subsonic aircraft currently in operation, will be moderate.

    There is perhaps one environmental upside. The research and development activity making supersonic aviation more environmentally friendly (such as developments in fuel and propulsion technology) will likely yield technologies that transfer to subsonic aircraft too. This should help to address the much broader problem of environmental damage caused by the aviation industry as a whole.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

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

    – ref. Supersonic passenger aircraft may be returning – here’s what that would mean for the climate – https://theconversation.com/supersonic-passenger-aircraft-may-be-returning-heres-what-that-would-mean-for-the-climate-250116

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Financial news: On holding auctions on February 19, 2025 to place OFZ issues No. 26245RMFS and No. 26247RMFS

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    For bidders

    We inform you that, based on the letter of the Bank of Russia and in accordance with Part I. General Part and Part II. Stock Market Section of the Rules for Conducting Trading on the Stock Market, Deposit Market and Credit Market of Moscow Exchange PJSC, the order establishes the form, time, term and procedure for holding auctions for the placement and trading of the following federal loan bonds:

    1.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26245RMFS from 08.05.2024
    Date of the auction February 19, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code CO26245RMFS9
    ISIN code RO000A108EG6
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

    2.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26247RMFS from 08.05.2024
    Date of the auction February 19, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code CO26247RMFS5
    ISIN code RO000A108EF8
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 12:00 – 12:30; bid execution period: 13:00 – 18:00.

    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: AMA Insurance Takes Action on Reducing Claims Emissions with EcoClaim™

    Source: GlobeNewswire (MIL-OSI)

    EDMONTON, Alberta, Feb. 18, 2025 (GLOBE NEWSWIRE) — Together, the Alberta Motor Association Insurance Company and EcoClaim are leading a new chapter in Alberta’s insurance sector, one that prioritizes measurable environmental impact, a core value for many Albertans.

    AMA Insurance’s relationship with EcoClaim highlights AMA’s mission to support Albertans through forward-thinking practices while prioritizing the environment. This collaboration equips AMA’s teams and contractor network with the tools to track and minimize greenhouse gas (GHG) emissions tied to property claims. EcoClaim’s training and certification programs provide vendors with a comprehensive toolkit to implement sustainable practices in their operations. By using EcoClaim’s TRAX software, they gain access to accurate claim-level data on avoided emissions.

    “At AMA, we have always believed in championing initiatives that protect what matters most: our members, our communities, and our environment,” said Jordan Andrew, Claims Manager. “By working with EcoClaim, we’re taking practical steps to reduce the environmental impact of each claim while supporting our members and contractor network with the tools they need to succeed.”

    As part of this collaboration, AMA is adopting EcoClaim’s innovative TRAX software to support its supply chain partners while implementing EcoClaim sustainability training and certification.

    “At EcoClaim, we help insurance companies build sustainable practices directly into the core of their claims process,” said Jodi Scarlett, CEO of EcoClaim. “This approach transforms supply chain behaviors, delivering measurable reductions in emissions related to claims. For example, in 2024, EcoClaim vendors across Canada reported nearly 1 million kilograms of avoided emissions directly related to changes in recycling practices on property claims. AMA’s participation in the program is sure to amplify this result significantly!”

    AMA Insurance’s commitment to sustainability reflects growing momentum across the insurance sector to reduce GHG emissions. Together with EcoClaim, they are implementing practical solutions that achieve measurable environmental impact and transforming claims into climate action.

    About EcoClaim™

    EcoClaim™ transforms insurance claims into climate action with its innovative platform, offering industry-leading training, GHG management software, and a Carbon Exchange marketplace. Tailored for P&C insurers, EcoClaim replaces generic emissions benchmarks with precise claim-level data, empowering insurers to measure, manage, and reduce Scope 3 emissions effectively. The platform not only strengthens sustainability disclosures but also lowers claims costs, proving that the low-carbon way can also be the cost-efficient way.

    About AMA Insurance

    AMA Insurance Agency and the Alberta Motor Association Insurance Company operate as part of the Alberta Motor Association, which is the largest membership-based organization in Alberta.

    AMA Insurance was incorporated as an insurance company in 1962. Today AMA Insurance underwrites, sells and services a wide range of products to AMA members, including auto, home, accident and business insurance. AMA Insurance also sells the products of carefully selected external partners and is supported by internal claims and legal departments.

    About AMA

    The Alberta Motor Association (AMA) is one of the largest membership organizations in Alberta, representing a million members provincewide. As a leading advocate for traffic safety, travel, consumer protection, and crime prevention, AMA helps protect the things that matter most, cares for and participates in the communities we serve, and represents our members’ needs to industry and government.

    Media Contact:

    Meaghan Ralston, EcoClaim CMO, 1.403.926.8112, mralston@ecoclaim.ca  

    The MIL Network –

  • MIL-OSI: ASUS Republic of Gamers Announces 2025 ROG Flow Z13 is now available in Canada

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — ASUS Republic of Gamers (ROG) announced that the 2025 ROG Flow Z13 is now available for pre-order on the ASUS Store and Best Buy with deliveries starting as early as February 25th, 2025. This versatile gaming 2-in-1 feature AMD’s newest AMD Ryzen™ AI Max+ 395 Processor with Radeon™ 8060S Graphics and a unified memory structure, allowing for incredible performance and power efficiency. A new stainless steel and copper vapor chamber, larger intake vents, and 2nd Gen Arc Flow Fans™ offer 70% more airflow for quiet and efficient cooling.

    This 13-inch tablet boasts a stunning ROG Nebula Display, a 2.5K resolution 180Hz touchscreen with 500 nits of peak brightness, and Corning® Gorilla® Glass 5 protection. The Flow Z13 now also features a larger 70Wh battery, a larger touchpad and keycaps, and a convenient Command Center button for quick access to vital system functions. With dual USB-C® ports, both of which support USB4® and power delivery, as well as a dedicated HDMI® 2.1 port, the Flow Z13 lets gamers leave their dongles at home.

    Power efficiency reimagined 
    Inside ROG Flow Z13 is AMD’s new Ryzen™ AI Max processors with Radeon 8060S Graphics. With 16 high-performance Zen 5 CPU cores and 40 compute units worth of RDNA 3.5 graphics on the same processor, the Z13 has the muscle for both intense multitasking and heavyweight gaming. The RDNA 3.5 GPU cores power gaming performance that rivals dedicated graphics, with the added benefit of drawing significantly less power, making it the perfect choice for a gaming tablet. The Z13’s processor also boasts 50 TOPS of NPU performance, making it a certified Copilot+ PC that offers incredible versatility with built-in AI features and tools. 

    Unified quad channel memory 
    With both the CPU and GPU cores sharing a single processor die, the ROG Flow Z13 is able to utilize a unified memory structure, allowing for incredible flexibility and versatility. Traditional gaming laptops and tablets have a dedicated CPU and GPU, both with distinct pools of RAM that can’t be shared. The Flow Z13 has one large pool of memory that can be allocated to the Zen 5 and RDNA 3.5 compute cores dynamically, giving gamers access to plentiful VRAM in modern games and excellent performance in other memory intensive tasks when not gaming. 

    With 32GB of ultra-high speed LPDDR5X 8000MHz RAM gives gamers plenty of memory for even the most demanding games and applications, all shared dynamically as needed for a seamless experience. This quad-channel memory configuration offers maximum bandwidth and minimal latency, offering both the CPU and GPU cores the most performance possible. 

    With a dedicated NPU, a high-performance GPU, and the ability to allocate up to 24GB of VRAM, the Flow Z13 is the ultimate portable workstation. Capable of running a larger language model locally, the Z13 is ready for any advanced AI task. Another variant of the ROG Flow Z13 is available in other markets featuring an impressive 128GB of memory. This allows for up to 96GB of VRAM allocation, enabling seamless local execution of large 70B language models locally with ease.

    Revamped cooling 
    The 2025 ROG Flow Z13 features a brand-new vapor chamber, now built with lightweight stainless steel and copper and offering 54% more coverage of the mainboard compared to the previous generation design. Larger intake vents and dual 2nd Gen Arc Flow Fans help push exhaust air through ultrathin 0.1mm heatsink fins that are extra-efficient without adding bulk to the machine. As a tablet, the Flow Z13 houses all of its heat-producing components behind the display and rarely sits flat on a table, with a standing design granting ample access to fresh air and a natural cooling advantage compared to gaming laptops. 

    The Flow Z13 features a redesigned routing for air from the pair of 2nd Gen Arc Flow Fans, diverting a small amount to a specially designed channel behind the touchscreen to keep the user’s skin temperatures lower during use. In addition, integrated dust filters help keep hair and debris out of the machine, keeping the Z13’s cooling system reliable for years to come. 

    Brilliant visuals 
    This compact 13-inch laptop boasts a gorgeous high-resolution 2.5K and 180Hz refresh rate Nebula Display, for incredibly immersive games and video content. Corning® Gorilla® Glass 5 protects the touchscreen from accidental knicks and scratches. With 100% coverage of the DCI-P3 color space, a 16:10 aspect ratio, and 500 nits of peak brightness, this ROG Nebula Display is ready to light up the gaming world. 

    More ports and features than ever 
    Despite its svelte size, the 2025 ROG Flow Z13 stands ready to become the centerpiece of any gaming battle station. Featuring dual USB-C ports, both of which support USB4, DisplayPort™ 1.4 output, and power delivery, the Z13 offers incredible flexibility for any devices and peripherals. It also sports a dedicated HDMI 2.1 port, a USB Type-A port, a microSD card reader, and an audio combo jack. The Flow Z13 is the only tablet that truly allows gamers to leave their dongles behind. 

    ROG Flow Z13 now sports a much larger 70Wh battery, when combined with the power efficiency of AMD’s Ryzen™ AI processors, gives gamers more battery life than ever before. A larger touchpad and individual keycaps offer a more comfortable typing experience. And as a final touch, a brand-new Command Center button allows for seamless access to vital system functions, essential for any tablet. 

    AVAILABILITY AND PRICING

    The new ROG Flow Z13 (GZ302EA-XS96) 2-in-1 is now available for pre-order in Canada with deliveries starting from February 25th, 2025, via the ASUS Store, and Best Buy. Equipped with the newly announced AMD Ryzen AI Max+ 395 with Radeon 8060S graphics, 32 GB of RAM, and 1 TB of storage, it starts at C$2,999.

    Pricing and configurations are subject to change. Contact your local ASUS representative for more details or visit ASUS Canada.

    NOTES TO EDITORS

    ROG Flow Z13 Where to Buy Links:

    ROG Flow Z13 Product Page: https://rog.asus.com/ca-en/laptops/rog-flow/rog-flow-z13-2025/

    2025 ROG Gaming Laptops: https://rog.asus.com/content/2025-rog-gaming-laptops/ 

    ROG Facebook: https://www.facebook.com/asusrog

    ROG X (Twitter): https://www.x.com/asus_rog

    ASUS Pressroom: http://press.asus.com

    ASUS Global Facebook: https://www.facebook.com/asus

    ASUS Global Twitter: https://www.x.com/asus

    SPECIFICATIONS

    Model Flow Z13 (GZ302EA-XS96)
    CPU AMD Ryzen™ AI MAX+ 395 Processor 3.0GHz (80MB Cache, up to 5.1GHz, 16 cores)
    NPU AMD XDNA™ NPU up to 50 TOPS
    Memory 32GB LPDDR5X 8000 (max capacity: 32GB)
    GPU Integrated Radeon™ 8060S Graphics
    Panel 13.4” 16:10 WQXGA 180Hz,
    3ms, 500nits, DCI-P3 100%
    ROG Nebula Display
    Pantone Validated, with Dolby Vision®
    Storage 1TB PCIe® 4.0 NVMe™ M.2 SSD (2230)
    Operating System Windows 11 Pro
    I/O PORT 2x USB Type-C (with USB4 + DP 2.1+ PD 3.0)
    1x HDMI 2.1
    1x Command Center button 
    1x USB 3.2 Type-A 
    1x microSD Card Reader (UHS II) 
    1x 3.5mm Combo Audio Jack
    Battery 70Whr
    Connectivity Wi-Fi 7 (802.11ab)
    Bluetooth® 5.4
    Adapter 200W ASUS Slim Power Jack
    154×72.5x23mm (472g)
    Dimensions 30.0 x 20.4 x 1.29 ~ 1.49 cm (11.81″ x 8.03″ x 0.51″ ~ 0.59″)
    1.2 Kg (2.65lbs) without keyboard
    1.59 Kg (3.51lbs) with keyboard
    Webcam 13MP camera and 5MP IR camera
    Pricing C$2,999
    Where to Buy ASUS Store & Best Buy
     

    About ROG

    Republic of Gamers (ROG) is an ASUS sub-brand dedicated to creating the world’s best gaming hardware and software. Formed in 2006, ROG offers a complete line of innovative products known for performance and quality, including motherboards, graphics cards, system components, laptops, desktops, monitors, smartphones, audio equipment, routers, peripherals and accessories. ROG participates in and sponsors major international gaming events. ROG gear has been used to set hundreds of overclocking records and it continues to be the preferred choice of gamers and enthusiasts around the world. To become one of those who dare, learn more about ROG at http://rog.asus.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d8808db-0dc3-4995-b5eb-54559833040a

    The MIL Network –

  • MIL-OSI Economics: IMF Staff Completes 2025 Article IV Mission to the Maldives

    Source: International Monetary Fund

    February 18, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • The Maldives’ economy is expected to grow by 5 percent in 2025, driven by robust tourism activity. Nevertheless, macroeconomic imbalances have continued to widen and risks are tilted to the downside.
    • The immediate policy priority is to restore sustainable public finance and debt. Broad-based fiscal reforms and a comprehensive debt strategy, alongside well-calibrated monetary and macro-financial policies, are urgently needed.
    • Reforms to strengthen climate resilience, improve the business climate and governance, and enhance skill developments will support stronger external competitiveness and strong, sustainable, and inclusive growth.

    Washington, DC: An International Monetary Fund (IMF) mission, led by Ms. Piyaporn Sodsriwiboon, visited Malé during February 3 – 16, 2025, to discuss recent economic developments, the outlook, and the country’s policy priorities in the context of the 2025 Article IV consultation.

    At the end of the mission, Ms. Sodsriwiboon issued the following statement:

    “Thanks to the Maldives’ strong tourism base, growth has held up well. Real GDP growth is projected at 5 percent in 2025, and the opening of airport terminal expansion would ease supply-side bottleneck for tourism and help sustain growth momentum over the medium term. Inflation is expected to rise to 2.3 percent in 2025, partially due to higher import duties. There is large uncertainty around the forecasts and risks are tilted to the downside.

    “External vulnerabilities remain, amid a persistently large current account deficit and pressures on foreign exchange reserves. The overall fiscal deficits and public debt are projected to stay elevated, calling for urgent policy adjustment. Over the medium term, the Maldives is highly vulnerable to climate change risks, due to sea level risk, floods and the degradation of its natural capital.

    “The Maldives is navigating a pivotal moment to urgently restoring macroeconomic stability and debt sustainability. The Government of Maldives has assumed its homegrown fiscal reform agenda, importantly with the discontinuation of exceptional use of Maldives Monetary Authority (MMA) advances and the passage of Fiscal Responsibility Act and Public Debt Management Act. Swift implementation of expenditure reform measures as outlined in the 2025 Budget would be key to reduce imbalances in an orderly manner and restore economic stability.

    “In addition to the revenue mobilization measures enacted by the government, there is the need for more urgent and stronger fiscal consolidation. Holistic expenditure rationalization is necessary to restrain excessive spending, while improving spending efficiency and protecting priority social spending. Subsidy reforms, which phase out untargeted subsidies and roll out well-targeted direct income transfers to vulnerable households, should be introduced as envisaged in the 2025 Budget. The reprioritization and rationalization of public sector investment program (PSIP) is critically necessary to address immediate fiscal challenges. Building on recent progress, the reforms of state-owned enterprises (SOEs) and Aasandha-healthcare reforms should be continued. Strengthening the public financial framework is critical to enhance fiscal policy credibility and effectiveness. A comprehensive debt strategy would also help restore debt sustainability and improve debt management.

    “A coordinated tightening of the policy mix would effectively help address macroeconomic vulnerabilities. The MMA’s commitment to resume active monetary operations is a welcome step in this regard. Should inflationary or external pressures intensify, the MMA should stand ready to further tighten monetary policy. Heightened systemic risks from bank-sovereign nexus call for tighter macroprudential policies and vigilant financial sector oversight. Prudent foreign exchange reserve management, alongside the necessary macroeconomic adjustments that include substantial and immediate fiscal adjustments as well as stricter monetary and macroprudential policies to address economic imbalances effectively, would help safeguard the exchange rate peg.

    “Given the Maldives’ threats to climate change, integrating climate sensitivity into public financial and investment management processes is essential for tackling climate-related challenges and mobilizing additional climate finance. Structural reforms aimed at improving the business environment and governance, expanding trade and investment, and enhancing skill development remain crucial for sustaining robust and inclusive growth.

    “The IMF team would like to thank the Maldivian authorities for their hospitality and constructive discussions. Meetings were held with Finance Minister M. Zameer, Governor A. Munawar, and other senior officials, as well as representatives from the private sector and development partners.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    MIL OSI Economics –

  • MIL-OSI Economics: Microsoft announces latest investment in Europe, $700M for computing capacity in Poland

    Source: Microsoft

    Headline: Microsoft announces latest investment in Europe, $700M for computing capacity in Poland

    This morning, I stood in Warsaw with Poland’s Prime Minister, Donald Tusk, and announced Microsoft’s latest cloud and AI infrastructure investment in Europe. Building on our initial billion-dollar investment to launch a Polish cloud region in 2023, I announced that Microsoft will spend another $700 million by the middle of next year to expand our computing capacity in the country. And we will deepen our work with Polish National Defense to strengthen Poland’s cybersecurity, including by working together on the development of AI competencies and emerging digital technologies, including new AI and quantum breakthroughs. 

    This marks the latest critical step for Microsoft’s business, economic, and political relationships in Poland – and in Europe as a whole.  

    During the past 16 months, we have announced more than $20 billion in AI and cloud infrastructure investments that represent an important part of our datacenter expansion across 15 European countries. Today’s investment in Poland builds on the integrated supply chain we are building with manufacturers across the EU. It calls on suppliers that are manufacturing critical components not only in Poland but in Italy, France, Germany, Finland, Ireland, and the United Kingdom. It also includes components manufactured and exported from Indiana in the United States. It’s the type of investment that creates jobs and fosters economic growth throughout Europe and across the Atlantic. 

    Promoting Trans-Atlantic Investment, Trade, and Economic Growth 

    The American technology sector is creating world-leading AI technology and is focused on being a trusted “partner of choice” around the world. And European policy leaders are focused on mobilizing more capital and increasing productivity by “closing the innovation gap.” Even in a time of fragmenting geopolitics, today’s announcement illustrates that these two technology ambitions are more aligned than divergent.  

    In multiple ways, our investment in Poland puts both these goals into practice. It demonstrates how vastly the technology sector has changed since I first joined Microsoft as an employee in Paris more than 31 years ago. While we develop and provide world-leading technology products and services globally, we now support these with enormous national investments in infrastructure and large numbers of local employees. More than ever, technology requires coordinated investments that connect countries and span oceans. 

    Sustained Technology Support During a Decade of Crises 

    Equally important, technology has become a lynchpin for national needs in times of crisis. European Commission President Ursula von der Leyen has aptly put recent history in perspective. As she highlighted, Europe faces a competitiveness challenge that comes as the third crisis of the 2020s, after the pandemic and the war in Ukraine.  

    It’s worth reflecting on the critical role of technology in helping to support the responses needed for each of these crises. 

    Five years ago this month, the first pandemic in a century literally started to shut doors around the world. At Microsoft, our employees and partners used new video and productivity technology like Teams to keep the economy moving forward in every corner of Europe. In just days, businesses, schools, universities, hospitals, and governments sustain their operations by moving online.  

    Two years later, the Russian military invaded Ukraine. At Microsoft, we helped move Ukraine’s critical data and technology services to our datacenters across Europe, ensuring their continued operation outside the range of cruise missile and air attacks. And like several other technology companies, we immediately helped Ukraine’s officials and citizens defend their nation from Russian cyberattacks. As a company, we provided more than $250 million of free technology and financial assistance. And we have sustained this substantial support to this day. 

    As Europe now launches a new “competitiveness compass,” technology will again play an indispensable role. Especially as working-age populations shrink and aging populations expand, economic growth and prosperity will depend more than ever on new technology. Productivity growth will require it. And the competitiveness of Europe’s many great industries and companies, large and small, will depend on their ability to hone their ongoing leadership in critical scientific domains and put their data to work. Across the continent, European institutions will need to harness the power of AI and the cloud. 

    A Strong Foundation for Europe’s AI Transition 

    AI is rapidly becoming what economists call a General Purpose Technology, or GPT. In contrast to single-purpose technologies, GPTs boost innovation and productivity across the entire economy. Throughout history, transformative GPTs like ironworking, electricity, machine tooling, computer chips, and software have not only driven economic growth but sparked new discoveries and inventions, changing the way we live and work.  

    The good news is that the foundation for Europe’s AI transition is already being laid. Industry leaders are investing tens of billions to construct state-of-the-art infrastructure to help Europe access, adopt, and innovate on the world’s most advanced cloud and AI technology. And companies like Microsoft are developing and offering innovative AI tools and vital services that are ready for use by every sector of every European economy.  

    As a company, we are developing and operating our AI infrastructure and platform services with a constant focus on Europe’s needs. This is one reason we announced our AI Access Principles in Barcelona a year ago. These eleven principles govern our operations and are designed to ensure that Microsoft’s AI infrastructure is accessible, open, and available on fair terms to the entire European economy.  

    As we’ve put these principles into practice, we’ve recognized the vital role of open-source software and AI models for European researchers, start-ups, businesses, and governments. We’ve launched the Azure AI Foundry, a platform designed to help developers build, run, and optimize AI-driven applications. The Foundry supports flexible choices and now supports more than 1,800 AI models, from OpenAI’s o3-mini to open-source models like Llama, Mistral, and others, all giving Europe the tools it needs to stay competitive in the fast-moving AI landscape. European developers can then use our Models as a Service offering to distribute their products instantly to our datacenters around the world, so customers can call on them for AI-powered applications. 

    We also recognize that technology innovation requires investments in people. That’s why we’re investing in our AI Skilling Initiative across Europe. We’re partnering with government, education, industry, and civil society to help bring AI skills to users, developers, and organizational leaders. Through our strategic partnerships, we have already helped to skill 2.9 million Europeans and are on track to engage 8 million people by the end of the year. 

    Technology Collaboration Built on Interdependence 

    We readily recognize that European leaders sometimes worry about becoming overly dependent on American technology. We appreciate that such questions are both natural and legitimate. We take them seriously and work hard to address them, including by understanding European values, supporting European needs, and adapting to European rules.  

    Along the way, we often point to a second technology dimension that too easily is overlooked. The reality is that this dependence runs both ways.  

    As a company, we’re pouring tens of billions of dollars of investment into acquiring land, constructing massive buildings, bringing additional electricity to the grid, and installing the world’s most advanced computing, networking, liquid cooling, and other technology.  

    These datacenters are not built on wheels.  

    Once constructed, these billions of dollars in infrastructure are permanent and subject to local laws, regulations, and governments. Time inevitably brings changes. It’s imperative as a company that we constantly remain focused on earning and sustaining our “license to operate” within each country. With datacenters, this starts with each local community and runs up to officials with EU-wide responsibilities. Our economic dependence on Europe runs deep. 

    As Microsoft celebrates its 50th birthday less than two months from now, we look back at more than four decades of European presence and support. As a company, we’ve seen many things change. And we ourselves have changed. We’ve put down deep roots, with employees and families in communities and countries across the continent.  

    But even amid constant change, one thing has been constant. Our support for Europe has been not only steady but steadfast.  

    MIL OSI Economics –

  • MIL-OSI Economics: Inclusive Innovation: The role of AI in accessibility and neurodiversity

    Source: Microsoft

    Headline: Inclusive Innovation: The role of AI in accessibility and neurodiversity

    MIL OSI Economics –

  • MIL-OSI Economics: Microsoft shares its agenda for the 2025 Washington state legislative session

    Source: Microsoft

    Headline: Microsoft shares its agenda for the 2025 Washington state legislative session

    This year is historic for Washington state as we welcome Governor Bob Ferguson, the first new governor in twelve years. In the few weeks since his inauguration, Bob Ferguson has signaled a pragmatic approach to governance, launching a new era in Washington State. Alongside Washingtonians across the state, Microsoft welcomes the Ferguson administration.  

    Today, in line with our commitment to transparency, we are sharing our annual legislative agenda. 

    This year is also notable as the 2025 session is a biennial budget year where over the course of 105 days, the legislature will negotiate, write, and ultimately pass three distinct yet interdependent operating, capital, and transportation budgets, outlining the critical spending and revenue plans for the next twenty-four months. With a new federal administration, new governments around the world, and our new government here in Washington, this biennial budget process has a certain gravitas. 

    Indeed, this is a critical moment for our state. The complexity of our state’s economic fabric—aerospace, technology, life sciences, agriculture, and space—has resulted in both a growing population and now, more than ever, a moment of unprecedented technological progress, presenting opportunities for Washington State and Washingtonians. Given the pace of progress all around us and the unique role we play in the innovation economy, Governor Ferguson and our legislators must be equally agile with deft and delicate policies over these next weeks of the 2025 legislative session. 

    As in years past, Microsoft’s 2025 legislative agenda aligns closely with the priorities of Washingtonians. As a homegrown global company, we have an eye on these global shifts of change and opportunity. And in these global shifts of change and opportunity, the priority of policymakers in Olympia must be on maintaining and expanding economic vitality, addressing the crisis of affordable housing, supporting high-quality education, and improving public safety and quality of life for all of Washington.  

    People-centered outcomes with policies that genuinely increase housing supply 

    Washington and Oregon have the tightest housing markets in the United States and in Washington we need housing of every kind. There is wide agreement that Washington needs to add one million new housing units over the next 20 years to meet the needs of state residents, thereby making housing more affordable.  

    In 2019, Microsoft announced a historic investment of $750 million to support the creation and  

    preservation of affordable housing. This initiative aimed to help low- and middle-income workers, such as nurses, teachers, and police officers, who are increasingly unable to afford housing near their workplaces. Our investment contributed and preserved 12,000 units of housing for our neighbors in the Puget Sound region. What we learned through our financial investment, however, is that funding is not enough. We must increase the supply of land and do more to incentivize housing development.  

    As we have for the past decade, Microsoft supports policies that make it easier, faster, and less expensive to increase housing production. We need to unlock more land for housing, increase financing, and enable efficient and effective government permitting, including the use of new technology to speed up permit review. This includes reforms and incentives that enable more housing in areas with abundant employment and transportation modes, leveraging public investments in transit to provide affordable living options for people across various income levels, enabling them to build their lives closer to their jobs, schools, parks, and other neighborhood amenities.  

    Among the novel and promising ideas being advanced this session is to promote and unlock residential uses in commercial zones, especially in close proximity to frequent and reliable transit. The rise of online shopping has led to an increase in empty big box stores and underutilized strip malls surrounded by empty parking lots. Policymakers should prioritize rezoning underutilized commercial spaces along existing transit hubs to create vibrant new communities. Freeing up larger tracts of underutilized land will help housing developers overcome the first hurdle to building multi-family apartments, townhomes, and condos.  

    For the 2025 legislative session, the legislature must continue to take big swings at policy so that Washington State has housing for all. 

    Access to all types of education for all Washingtonians 

    In April, Microsoft will celebrate 50 years in business. In the decades after Microsoft was founded, Washington state shifted to a knowledge and innovation economy. Now, we are participating in the shift to an AI economy. And to meet the needs of this moment, we need an interactive jungle gym of skilling and credentialing opportunities for all Washingtonians so we can move both upward and across career paths to follow the job opportunities that hold the most promise now and as job opportunities evolve.  

    Washington businesses are creating great jobs, but many people lack the necessary skills or credentials to attain them. We need our state to prioritize policies that address the skills gap limiting employment options for too many people. As a leader in global technology, Washington is also a leader in future technologies like AI, clean energy, and quantum computing, which will create a new wave of meaningful family-wage jobs. Washingtonians must be prepared with the right skills to participate in the economy now and in the economy of the future. 

    Microsoft also supports policies that enhance K-12 student achievement, foster career awareness in middle school, and encourage more students to pursue post-secondary credentials. Offering all Washington kids these opportunities has long been a priority for Microsoft. This year, lawmakers are advancing policies that create seamless pathways into higher education through guaranteed enrollment and generous eligibility for the Washington College Grant program. We are excited about the work being done in these areas.  

    We also encourage the state to establish more apprenticeships in high-demand fields and expand higher education programs to produce enough qualified applicants to match available jobs.  

    These are the policies that create a jungle gym of opportunity. 

    Committing to our statewide transportation plan 

    Our transportation system is the lifeblood of our state, and our state legislature has done extraordinary work in recent years. We have many important projects underway across the state. People rely on our roads, highways, rail, and ferries to travel to work, school, obtain healthcare, and find recreation. Employers also depend on reliable transportation to move parts and products around the state and beyond. We applaud the work that has been done to keep Washington moving. 

    This biennium, the priority is to ensure that projects currently underway are completed on time, provide sufficient maintenance funding for existing facilities, and continue to make necessary investments in transformative regional projects, including ultra high-speed rail in the Cascadia corridor. 

    Cascadia at the forefront of the digital economy and looking to the future 

    Washington state serves as one of the world’s leading centers for the development of artificial intelligence technology. Advances in artificial intelligence are enhancing customer service interactions, transaction processing, and workflow efficiency across various sectors. Microsoft sees extraordinary opportunities for our state government to leverage local AI expertise to maximize public resources. We look forward to participating in these crucial conversations, which are more important than ever this year.  

    As we look to the future, we are optimistic. Microsoft’s long-standing partnership with the state of Washington has been part of the success of our state. As we celebrate our 50th anniversary, we are as committed as we have ever been to collaborating with lawmakers to secure our state’s vibrant future. We look forward to working together to meet the challenges and opportunities of the next 50 years. 

    We see this as a unique opportunity to partner with Governor Ferguson and the legislature to advance Washington State using technology and innovation, increasing individual productivity capacity, and expanding access to government services for Washingtonians. 

    State budgets that are sustainable and prioritized 

    The most important policy bills the legislature will pass, however, will be the budget bills. More than anything, this bill will reflect the state’s priorities now and for the next two years. Budgets are where Washington’s tax dollars are put to work. Over the years, Microsoft has supported targeted tax increases for important programs and services. We have supported and defended nearly every transportation package in recent history. We supported the creation of the Workforce Education Investment Act to expand higher education opportunities for all Washingtonians. We have also provided millions in matching funds to help accelerate affordable housing. And just last year we helped lead the business community in defending the Climate Commitment Act. 

    This year, legislators are facing grim budget news—a budget deficit ranging from $10 to16 billion, depending on who you ask and how you do the math. Importantly, Washington State is not in a recession. This deficit is not due to an economic downturn that caused a decline in revenues. In fact, most revenues are still marginally increasing or flat. Very simply, our policymakers in Olympia have passed budgets that went beyond our means. 

    We believe this challenge affords an opportunity to reexamine recent spending and Washington State’s priorities of government. 

    We join others in Washington in asking straightforward questions about the outcomes Washingtonians are gaining from past and current state investments. Ultimately, the state budget is the state’s most important investment opportunity for improving economic competitiveness and encouraging private sector job growth.  

    We stand ready 

    This year, we stand ready to work with Governor Ferguson and the Legislature to find solutions to all these challenges. 

    The 2025 legislative session is a pivotal moment for our state. With the can-do spirit Washington has always been known for, we are optimistic our legislature and Governor Ferguson will collaborate and find creative solutions to our most pressing challenges. Like so many others across the state, we at Microsoft are eager to be partners.  

    Together, we can create a brighter, more equitable future for Washington State. 

    Tags: affordable housing, Education and Jobs, transportation, Washington state

    MIL OSI Economics –

  • MIL-OSI Russia: IMF Staff Completes 2025 Article IV Mission to the Maldives

    Source: IMF – News in Russian

    February 18, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • The Maldives’ economy is expected to grow by 5 percent in 2025, driven by robust tourism activity. Nevertheless, macroeconomic imbalances have continued to widen and risks are tilted to the downside.
    • The immediate policy priority is to restore sustainable public finance and debt. Broad-based fiscal reforms and a comprehensive debt strategy, alongside well-calibrated monetary and macro-financial policies, are urgently needed.
    • Reforms to strengthen climate resilience, improve the business climate and governance, and enhance skill developments will support stronger external competitiveness and strong, sustainable, and inclusive growth.

    Washington, DC: An International Monetary Fund (IMF) mission, led by Ms. Piyaporn Sodsriwiboon, visited Malé during February 3 – 16, 2025, to discuss recent economic developments, the outlook, and the country’s policy priorities in the context of the 2025 Article IV consultation.

    At the end of the mission, Ms. Sodsriwiboon issued the following statement:

    “Thanks to the Maldives’ strong tourism base, growth has held up well. Real GDP growth is projected at 5 percent in 2025, and the opening of airport terminal expansion would ease supply-side bottleneck for tourism and help sustain growth momentum over the medium term. Inflation is expected to rise to 2.3 percent in 2025, partially due to higher import duties. There is large uncertainty around the forecasts and risks are tilted to the downside.

    “External vulnerabilities remain, amid a persistently large current account deficit and pressures on foreign exchange reserves. The overall fiscal deficits and public debt are projected to stay elevated, calling for urgent policy adjustment. Over the medium term, the Maldives is highly vulnerable to climate change risks, due to sea level risk, floods and the degradation of its natural capital.

    “The Maldives is navigating a pivotal moment to urgently restoring macroeconomic stability and debt sustainability. The Government of Maldives has assumed its homegrown fiscal reform agenda, importantly with the discontinuation of exceptional use of Maldives Monetary Authority (MMA) advances and the passage of Fiscal Responsibility Act and Public Debt Management Act. Swift implementation of expenditure reform measures as outlined in the 2025 Budget would be key to reduce imbalances in an orderly manner and restore economic stability.

    “In addition to the revenue mobilization measures enacted by the government, there is the need for more urgent and stronger fiscal consolidation. Holistic expenditure rationalization is necessary to restrain excessive spending, while improving spending efficiency and protecting priority social spending. Subsidy reforms, which phase out untargeted subsidies and roll out well-targeted direct income transfers to vulnerable households, should be introduced as envisaged in the 2025 Budget. The reprioritization and rationalization of public sector investment program (PSIP) is critically necessary to address immediate fiscal challenges. Building on recent progress, the reforms of state-owned enterprises (SOEs) and Aasandha-healthcare reforms should be continued. Strengthening the public financial framework is critical to enhance fiscal policy credibility and effectiveness. A comprehensive debt strategy would also help restore debt sustainability and improve debt management.

    “A coordinated tightening of the policy mix would effectively help address macroeconomic vulnerabilities. The MMA’s commitment to resume active monetary operations is a welcome step in this regard. Should inflationary or external pressures intensify, the MMA should stand ready to further tighten monetary policy. Heightened systemic risks from bank-sovereign nexus call for tighter macroprudential policies and vigilant financial sector oversight. Prudent foreign exchange reserve management, alongside the necessary macroeconomic adjustments that include substantial and immediate fiscal adjustments as well as stricter monetary and macroprudential policies to address economic imbalances effectively, would help safeguard the exchange rate peg.

    “Given the Maldives’ threats to climate change, integrating climate sensitivity into public financial and investment management processes is essential for tackling climate-related challenges and mobilizing additional climate finance. Structural reforms aimed at improving the business environment and governance, expanding trade and investment, and enhancing skill development remain crucial for sustaining robust and inclusive growth.

    “The IMF team would like to thank the Maldivian authorities for their hospitality and constructive discussions. Meetings were held with Finance Minister M. Zameer, Governor A. Munawar, and other senior officials, as well as representatives from the private sector and development partners.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    https://www.imf.org/en/News/Articles/2025/02/18/pr25037-maldives-imf-staff-completes-2025-article-iv-mission-to-the-maldives

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: $32.6M to Attract High-Tech Manufacturing Businesses

    Source: US State of New York

    Governor Kathy Hochul today announced that $32.6 million has been awarded to improve seven locations under the Focused Attraction of Shovel-Ready Tracts New York grant program, administered by Empire State Development. First announced by the Governor in February 2022, FAST NY is designed to prepare and develop sites across the state to further New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. To date, FAST NY has awarded nearly $233 million to 32 sites, with locations in every region across Upstate New York, and Governor Hochul has proposed an additional $100 million for this proven program in her 2026 Executive Budget.

    “FAST NY is a valuable tool that attracts strategic industries that invest in our communities and bring good paying jobs to New York State,” Governor Hochul said. “We have experienced first hand that shovel ready sites are an important factor when businesses are looking to expand and companies like Micron, Wolfspeed, Edwards Vacuum, and fairlife have chosen New York State because of our investments in site readiness. FAST NY is helping New York be a competitor on a global stage for the world’s best companies.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “FAST NY is a forward-thinking initiative that enhances the state’s appeal to major employers in high-growth industries by helping communities prepare and develop sites to accelerate New York’s shovel-readiness. Each site selected for a FAST NY investment has tremendous potential to ignite projects that generate jobs and stimulate regional economic development across New York.”

    The latest awardees are:

    • Albany Port District Commission (Capital Region) – $18.79 million: This project at the Port of Albany’s 85-acre Beacon Island expansion site will allow for utility infrastructure work, including installation of a high-voltage substation, a sanitary wastewater treatment plant, and the intake lines and pump station package for fire protection system. Additionally, it will support the remaining earthwork at the site. This fully graded 85-acre site with access to 115Kv power lines and the navigable Hudson River presents a unique asset to manufacturers of a variety of large-scale components.
    • Buffalo and Erie County Land Development Corporation (Western New York) – $11.5 million: This infrastructure improvement project at the former Evans-Angola airport will support the establishment of the Erie County Agribusiness Park. The grant will support utility infrastructure work, including roadway and sewer improvements, and power and gas transmission extensions, plus a substation. The former airport has been defunct for over 25 years and the new agribusiness park will focus on attracting food and agricultural processing businesses to the region, and expanding available markets for local farms.
    • Town of Clifton Park (Capital Region) – $1 million: This infrastructure improvement project at the Synergy Technology Park will extend the site’s water infrastructure by providing a secondary water line. This will increase capacity to the park and support future site development and expansion for industrial, manufacturing and distribution operations.
    • Orange County Industrial Development Agency (Mid-Hudson) – $500,000: This pre-development project at the Roseton Development site will induce advancement of environmental studies including a Generic Environmental Impact Statement and State Environmental Quality Review, plus engineering and site design. The site provides unique assets, including direct access to existing power transmission, rail, heavy infrastructure, and existing maritime infrastructure with direct access to the Hudson River, and will focus on targeting offshore wind supply chain companies.
    • Fulton County Center for Regional Growth (Mohawk Valley) – $434,700: This pre-development project will induce the advancement of engineering fees and studies that will determine costs for the development of infrastructure at Johnstown Commerce Park, including roads, utilities, site analysis, and environmental investigation. This site is located directly across from the current Johnstown Industrial Park, which is currently at capacity. The site, which was previously awarded a FAST NY grant, expects to produce five major industrial development projects, resulting in the creation of approximately 200 jobs.
    • Hamburg Development Corporation (Western New York) – $250,000: This pre-development project will allow for shovel-ready advancement of the Crossroads site, including environmental impact and traffic studies. The site is adjacent to the former Ford stamping plant and is zoned industrial, with direct proximity to significant water, sewer, natural gas and power lines. Pre-permitting this site will expedite development and improve speed to market for advanced manufacturing projects in the region.
    • Wayne County Industrial Development Agency (Finger Lakes) – $100,000: This pre-development project will enable studies to evaluate water and sewer treatment and delivery infrastructure, with a focus on Lyons Industrial Park and additional industrial parks located along the Route 31 corridor spanning east to west through the southern end of the county. These parks were recently identified via a feasibility study, conducted to evaluate potential areas for future industrial development.

    This year, Governor Hochul proposed $100 million for additional rounds of FAST NY in her FY26 Executive Budget. The program helps to diversify New York State’s economy while generating new investments for businesses, communities and job creation. Last year, Governor Hochul secured an additional $100 million in funding through the FY25 State Budget for the FAST NY program.

    FAST NY grants are awarded for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries —including high-tech manufacturing, semiconductors, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics. For more information, or to apply for a FAST NY grant, visit esd.ny.gov/fast-ny.

    MIL OSI USA News –

  • MIL-OSI Economics: Press Release: Zion Oil & Gas Announces Renewed Operations Underway for MJ-01 Well Testing & Recompletion Project in Israel

    Source: Zion Oil and Gas

    Headline: Press Release: Zion Oil & Gas Announces Renewed Operations Underway for MJ-01 Well Testing & Recompletion Project in Israel

    Zion Oil & Gas Announces Renewed Operations Underway for MJ-01 Well Testing & Recompletion Project in Israel

    Current Unit Program Ends on February 28

     

    DALLAS, Texas, and CAESAREA, Israel, February 18, 2025

    DALLAS, Texas, and CAESAREA, Israel, February 18, 2025 – Zion Oil & Gas, Inc. (OTC: ZNOG) is pleased to announce a significant operational milestone as work resumes on the recompletion of the Megiddo-Jezreel 1 (MJ-01) well in Israel. This marks a crucial phase in Zion’s ongoing efforts to unlock Israel’s onshore energy potential.
     

    Operations Update: Crews on the Ground and Progress Underway

    Zion’s rig crew arrived in Israel on February 15, 2025, and has commenced critical maintenance and preparatory work. The rig, which was safely “warm stacked” in September, is undergoing necessary maintenance procedures, including fluid changes, lubrication and greasing, and mechanical, electrical, and safety audits to ensure peak functionality.

    Following maintenance, the team will begin drilling out the temporary plug at approximately 1,100 meters. This phase is expected to take 2-3 weeks, paving the way for the subsequent well recompletion and testing operations. Once the plug is removed, Zion will proceed with setting a permanent plug at the deeper part of the well to isolate the targeted zones of interest for testing.
     

    Global Coordination & Logistics

    Zion Oil & Gas has successfully navigated complex logistical challenges to ensure the timely delivery of essential equipment. Resources are currently enroute from across the globe, including India, Romania, Germany, the Netherlands, the UAE, the United States, and Tanzania. This unprecedented international cooperation underscores the dedication and perseverance of Zion’s team and partners.

    “As we move forward with this phase of operations, we are witnessing God’s provision in extraordinary ways,” said Monty Kness, VP of Operations. “The ability to coordinate a project of this scale, with equipment and expertise sourced from multiple continents, is a testament to both our team’s determination and the global support behind our mission.”
     

    Security and Site Preparedness

    Zion has maintained continuous security at the MJ-01 site, ensuring a stable and secure operational environment. Additionally, commercial air travel into Israel has steadily resumed, further supporting logistical operations.

    “Our focus remains on safety, precision, and execution,” said Zion CEO Rob Dunn. “With boots on the ground and critical equipment in motion, we are committed to seeing this project through knowing God has directed our steps forward.”
     

    Completion Timeline & Next Steps

    With all necessary equipment expected to be on-site by mid-March, barring unforeseen circumstances Zion anticipates its well completion and testing operations should be nearing completion in Q2 2025. The team remains confident in its planned operations and will continue to provide updates as milestones are achieved.
     

    Final Opportunity: Unit Program Closing February 28, 2025

    Zion Oil & Gas reminds investors that the current Unit Program will close on February 28, 2025. This is the final opportunity to participate before the program concludes.

    For every $250.00 UNIT purchased, investors receive:
    – Common stock based on the high-low average sale price on OTCQB: ZNOG for the day of purchase (or the next trading day if purchased after 4:00 PM EST).
    – 50 Warrants with an exercise price of $0.25 each.
    – 50 Additional Warrants for those enrolled in Automatic Monthly Investments (AMI) at $50/month or more (one-time only).
    – Warrants are exercisable for 12 months from March 31, 2025, to March 31, 2026.

    To learn more, click HERE.
     

    Faith & Perseverance

    John Brown, Zion’s Founder and Chairman, expressed gratitude for the unwavering support from shareholders and believers in its mission. “We remain steadfast in our calling, knowing that each step forward is guided by the Lord. As we embark on this critical phase of operations, we are encouraged by His promises and the faithfulness of our supporters.”
     

    About Zion Oil & Gas, Inc.

    Zion Oil & Gas, a U.S. public company traded on OTCQB: ZNOG, is dedicated to exploring for oil and gas onshore in Israel under its Megiddo Valleys License 434 which covers approximately 75,000 acres.

    For more information, visit www.zionoil.com.
     

    “The end of a matter is better than its beginning, and patience is better than pride.”
    Eccl 7:8 NIV

    “Bless the Lord, O my soul, and forget not all his benefits, who forgives all your iniquity, who heals all your diseases, who redeems your life from the pit, who crowns you with steadfast love and mercy, who satisfies you with good so that your youth is renewed like the eagle’s.”
    Ps 103:2-5 ESV

    FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion’s ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; regulatory approvals needed for exploration within our license and the rig’s operation; the effect, if any, of the uncertainties associated with wars and skirmishes between Israel and other organizations and/or countries, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

    MIL OSI Economics –

  • MIL-OSI Video: Getting EV Supply Chains Right | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Despite slowing electric vehicle sales growth in the US and Europe, over 30 million new EVs are expected on the road in 2027. To scale production, manufacturers are racing to secure reliable and sustainable supply chains for critical components and materials.

    From batteries to critical minerals to skills, what strategies are manufacturers and policy-makers adopting to meet the increasing demand?

    This session is linked to the ongoing work of the Centre for Advanced Manufacturing and Supply Chains, Centre for Energy and Materials, and Automotive Industry of the World Economic Forum.

    This session was developed in collaboration with Business Insider.

    Speakers: Pan Jian, Anindya Novyan Bakrie, Jamie Heller, Bonginkosi Emmanuel “Blade” Nzimande, Elizabeth Shuler, Jakob Stausholm

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=S4tgXhJlUrI

    MIL OSI Video –

  • MIL-OSI USA: NCDHHS Investment to Strengthen the Direct Support Professionals Workforce

    Source: US State of North Carolina

    Headline: NCDHHS Investment to Strengthen the Direct Support Professionals Workforce

    NCDHHS Investment to Strengthen the Direct Support Professionals Workforce
    jwerner

    As part of its Direct Support Professional Workforce Plan, the North Carolina Department of Health and Human Services is announcing $3 million to recruit and retain direct support professionals. This workforce is critical in helping people with intellectual and developmental disabilities live, work and thrive in communities of their choice. They provide a wide range of supports from daily tasks like bathing, eating and taking medications to connecting people with community resources and opportunities.

    “Every person in North Carolina should have the support they need to thrive in their communities,” said NC Health and Human Services Secretary Dev Sangvai. “We must prioritize and invest in the workforce that is charged with caring for people. Not only to ensure individuals and families have the right care when and where they need it, but also for the long-term well being of our state.”

    As part of the investment, the department awarded more than 140 provider agencies and employers of record with grants to recruit, support, train and retain direct support professionals (DSP). The grants will be distributed this year and directly improve the working lives of DSPs through programs such as hiring and retention bonuses, on-the-job training and child care assistance. 

    “Direct support professionals are essential in helping people with I/DD live and work in the communities of their choosing,” said Kelly Crosbie, MSW, LCSW, Director of the NCDHHS Division of Mental Health, Developmental Disabilities, and Substance Use Services. “These efforts are one part of a multi-faceted plan to create a workforce pipeline and give employers the tools they need to recruit and retain a strong, well-qualified DSP workforce to help as many people with I/DD as possible.”

    In addition to the provider grants, NCDHHS is funding several pilot programs that are launching later this year. The projects include the development of a wage protection program for full-time direct support professionals and career advancement opportunities, a DSP recruitment multi-media campaign, and implementing an HR onboarding system to streamline employment for DSPs. There are also two DSP mentoring programs that are launching this year, one focusing on peer-to-peer mentoring and the other program focusing on leadership-to-DSP mentoring.

    A second round of DSP incentives that focus on recruitment, retention and training will be made available in spring of 2025. Applicants that submitted proposals previously will be eligible to apply again as long as the proposals fall under the recruitment, retention or training program type. The NCDHHS Division of Mental Health, Developmental Disabilities and Substance Use Services will announce the opening of the second round of DSP incentives soon. 

    These efforts are part of the DSP Workforce Plan that aligns with NCDHHS’ Inclusion Connects, which is dedicated to connecting people with I/DD to more choices and more access to services and supports. The department is committed to creating a more accessible and supportive North Carolina, enabling people with I/DD to live more independently and participate fully in the community of their choice. 

    Como parte de su Plan de Personal Profesional de Apoyo Directo, el Departamento de Salud y Servicios Humanos de Carolina del Norte (NCDHHS, por sus siglas en inglés) anuncia los $3 millones para reclutar y retener profesionales de apoyo directo. Esta fuerza laboral es fundamental para ayudar a las personas con discapacidades intelectuales y de desarrollo integrarse, trabajar y prosperar en las comunidades de su elección. Ellos proporcionan una amplia gama de apoyos, desde tareas diarias como bañarse, comer y tomar medicamentos hasta conectar a las personas con los recursos y oportunidades de la comunidad. 

    “Cada persona en Carolina del Norte debe tener el apoyo que necesita para prosperar en sus comunidades”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Dev Sangvai. “Debemos priorizar e invertir en la fuerza laboral que se encarga de cuidar a las personas. No solo para garantizar que las personas y las familias tengan la atención adecuada cuando y donde la necesiten, sino también para el bienestar a largo plazo de nuestro estado”.

    Como parte de la inversión, el departamento otorgó a más de 140 agencias proveedoras y empleadores inscritos con subvenciones para reclutar, apoyar, capacitar y retener profesionales de apoyo directo (DSP, por sus siglas en inglés). Las subvenciones se distribuirán este año y mejorarán directamente la vida laboral de los DSP a través de programas como bonos de contratación y retención, capacitación en el trabajo y asistencia de cuidado infantil. 

    “Los profesionales de apoyo directo son esenciales para ayudar a las personas con I/DD a vivir y trabajar en las comunidades de su elección”, dijo Kelly Crosbie, MSW, LCSW, directora de la División de Salud Mental, Discapacidades del Desarrollo y Servicios de Uso de Sustancias de NCDHHS. “Estos esfuerzos son parte de un plan multifacético para crear un flujo de fuerza laboral y brindar a los empleadores las herramientas que necesitan para reclutar y retener una fuerza laboral de DSP sólida y bien calificada para ayudar a tantas personas con discapacidades intelectuales y/o del desarrollo (I/DD, por sus siglas en inglés) como sea posible”.

    Además de las subvenciones para proveedores, NCDHHS está financiando varios programas piloto que se lanzarán a fines de este año. Los proyectos incluyen el desarrollo de un programa de protección salarial para profesionales de apoyo directo a tiempo completo y para oportunidades de promoción profesional, una campaña multimedia para reclutamiento de profesionales de apoyo directo (DSP), e implementación de un sistema de incorporación de recursos humanos para agilizar el empleo de DSP. También hay dos programas de tutoría de DSP que se lanzarán este año, uno centrado en la tutoría entre colegas y el otro programa centrado en la tutoría de liderazgo a DSP.

    Una segunda ronda de incentivos para DSP que se centran en el reclutamiento, la retención y la capacitación estará disponible en la primavera de 2025. Los solicitantes que presentaron propuestas anteriormente serán elegibles para postularse nuevamente siempre que las propuestas correspondan con el tipo de programa de reclutamiento, retención o capacitación. La División de Salud Mental, Discapacidades del Desarrollo y Servicios de Uso de Sustancias de NCDHHS anunciará pronto la apertura de la segunda ronda de incentivos para DSP. 

    Estos esfuerzos son parte del Plan de fuerza laboral de DSP que se alinea con Inclusion Connects de NCDHHS, que se dedica a conectar a las personas con I/DD con más opciones y más acceso a servicios y apoyos. El departamento se compromete a crear una Carolina del Norte más accesible y solidaria, que permita a las personas con I/DD vivir de manera más independiente y participar plenamente en la comunidad de su elección.

    Feb 18, 2025

    MIL OSI USA News –

  • MIL-OSI: Revolutionizing Passive Income in 2025: Earn Daily with Free Cloud Mining for Bitcoin, Ethereum, and More

    Source: GlobeNewswire (MIL-OSI)

    EDINBURGH, Scotland, Feb. 18, 2025 (GLOBE NEWSWIRE) — Since Bitcoin first broke through $100,000 on December 5, 2024, the market has soared, creating countless millionaires in a short period of time. More and more people are realizing that cryptocurrencies, as a financial asset, have the potential to increase wealth unmatched by other investment opportunities. ION Mining is completely disrupting the traditional way of investing in cryptocurrencies with its innovative cloud mining model. Without the need for expensive equipment, specialized technology or high electricity costs, ION Mining provides investors with an easy way to enter the crypto economy and help realize the dream of passive income.

    The advent of the cryptocurrency era, especially the rise of the cloud mining industry, is profoundly affecting the global economic landscape. From the birth of blockchain technology to the importance of digital currencies to current market dynamics, IONmining will take you through a comprehensive analysis of how to achieve stable returns through remote monitoring of mining. This guide covers the core knowledge of cloud mining, whether you are a novice or an experienced investor, you can find a profit strategy that suits you. Seize this opportunity to learn more about the potential of cloud mining and lay the foundation for future wealth growth.

    The core advantages of cloud mining：

    • · No hardware equipment and high electricity costs required
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    Start earning money

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    1. Easy and quick start

    2. Top technology guarantee

    • · Use industry-leading hardware such as Bitmain and NVIDIA to ensure efficient mining performance
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    3. Transparent with no hidden fees

    • · Only the contract deposit needs to be paid, which will be fully refunded after the contract expires
    • · No additional maintenance fees or hidden costs

    Flexible mining contract plan

    ION Mining offers a variety of flexible mining contracts suitable for both beginners and experienced investors. The following are some examples of plans：

    • · Basic Cloud Computing Plan： Invest $300, contract period 5 days, profit $27.3
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    • · Advanced Cloud Computing Plans： Invest $5000, contract period 10 days, profit $1155.
    • · Super Cloud Computing Plan： Invest $11,000, contract period 30 days, profit $8,118

    After the contract ends, the investment principal will be automatically returned to the account, and the user can choose to continue investing or exit the platform

    How to get started?

    Follow these 4 steps to easily start your mining journey：

    • 1. Register an account： Go to the ION Mining official website, enter your email address and set a password, and receive a $15 reward immediately after activating your account
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    • 3. Fund your account： Supports multiple payment methods, including mainstream cryptocurrencies such as USDT, BTC, ETH, LTC, etc.
    • 4. Start mining： After activating the contract, the system will automatically start mining, and the income will be accumulated in real time and can be withdrawn at any time.

    Platform credibility guarantee

    • · ION Mining is a global company legally registered in the UK and authorized and regulated by the UK Financial Services Authority (FCA)
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    Join IONmining immediately

    ON Mining is not only a cloud mining platform, but also an ideal choice for users to provide efficient and sustainable income sources. Whether you are a novice or a senior investor, you can find a low-risk, high-return solution suitable for you here. Join ION Mining now, seize the wealth opportunities in the cryptocurrency era, start your passive income journey, and realize the dream of wealth freedom.

    Official Website： https://ionmining.com/

    Contact Email： info@ionmining.com

    Contact Us:

    Michael Rodrigo
    Marketing Manager

    Disclaimer: This press release is provided by “ionmining.com”. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    Photos accompanying this announcement is available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/98863de3-3b9a-4aa4-b132-c911a3faf15c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9eacb505-3de8-4426-b6c0-b4c215b1d0ed

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c28a9c8a-73fc-43a6-943c-50bb93a6973f

    The MIL Network –