Category: Business

MIL-Evening Report: Antarctic research is in decline, and the timing couldn’t be worse
Source: The Conversation (Au and NZ) – By Elizabeth Leane, Professor of Antarctic Studies, School of Humanities, University of Tasmania

Oleksandr Matsibura/Shutterstock

Ice loss in Antarctica and its impact on the planet – sea level rise, changes to ocean currents and disturbance of wildlife and food webs – has been in the news a lot lately. All of these threats were likely on the minds of the delegates to the annual Antarctic Treaty Consultative Meeting, which finishes up today in Milan, Italy.

This meeting is where decisions are made about the continent’s future. These decisions rely on evidence from scientific research. Moreover, only countries that produce significant Antarctic research – as well as being parties to the treaty – get to have a final say in these decisions.

Our new report – published as a preprint through the University of the Arctic – shows the rate of research on the Antarctic and Southern Ocean is falling at exactly the time when it should be increasing. Moreover, research leadership is changing, with China taking the lead for the first time.

This points to a dangerous disinvestment in Antarctic research just when it is needed, alongside a changing of the guard in national influence. Antarctica and the research done there are key to everyone’s future, so it’s vital to understand what this change might lead to.

Why is Antarctic research so important?

With the Antarctic region rapidly warming, its ice shelves destabilising and sea ice shrinking, understanding the South Polar environment is more crucial than ever.

Ice loss in Antarctica not only contributes to sea level rise, but impacts wildlife habitats and local food chains. It also changes the dynamics of ocean currents, which could interfere with global food webs, including international fisheries that supply a growing amount of food.

Research to understand these impacts is vital. First, knowing the impact of our actions – particularly carbon emissions – gives us an increased drive to make changes and lobby governments to do so.

Second, even when changes are already locked in, to prepare ourselves we need to know what these changes will look like.

And third, we need to understand the threats to the Antarctic and Southern Ocean environment to govern it properly. This is where the treaty comes in.

What is the Antarctic Treaty?

The region below 60 degrees south is governed by the 1959 Antarctic Treaty, along with subsequent agreements. Together they are known as the Antarctic Treaty System.

Fifty-eight countries are parties to the treaty, but only 29 of them – called consultative parties – can make binding decisions about the region. They comprise the 12 original signatories from 1959, along with 17 more recent signatory nations that produce substantial scientific research relating to Antarctica.

This makes research a key part of a nation’s influence over what happens in Antarctica.

For most of its history, the Antarctic Treaty System has functioned remarkably well. It maintained peace in the region during the Cold War, facilitated scientific cooperation, and put arguments about territorial claims on indefinite hold. It indefinitely forbade mining, and managed fisheries.

Lately, however, there has been growing dysfunction in the treaty system.

Environmental protections that might seem obvious – such as marine protected areas and special protections for threatened emperor penguins – have stalled.

Because decisions are made by consensus, any country can effectively block progress. Russia and China – both long-term actors in the system – have been at the centre of the impasse.

Read more:
Antarctic summer sea ice is at record lows. Here’s how it will harm the planet – and us

What did our report find?

Tracking the amount of Antarctic research being done tells us whether nations as a whole are investing enough in understanding the region and its global impact.

It also tells us which nations are investing the most and are therefore likely to have substantial influence.

Our new report examined the number of papers published on Antarctic and Southern Ocean topics from 2016 to 2024, using the Scopus database. We also looked at other factors, such as the countries affiliated with each paper.

The results show five significant changes are happening in the world of Antarctic research.
- The number of Antarctic and Southern Ocean publications peaked in 2021 and then fell slightly yearly through to 2024.
- While the United States has for decades been the leader in Antarctic research, China overtook them in 2022.
- If we look only at the high-quality publications (those published in the best 25% of journals) China still took over the US, in 2024.
- Of the top six countries in overall publications (China, the US, the United Kingdom, Australia, Germany and Russia) all except China have declined in publication numbers since 2016.
- Although collaboration in publications is higher for Antarctic research than in non-Antarctic fields, Russia, India and China have anomalously low rates of co-authorship compared with many other signatory countries.
Why is this research decline a problem?

A recent parliamentary inquiry in Australia emphasised the need for funding certainty. In the UK, a House of Commons committee report considered it “imperative for the UK to significantly expand its research efforts in Antarctica”, in particular in relation to sea level rise.

US commentators have pointed to the inadequacy of the country’s icebreaker infrastructure. The Trump administration’s recent cuts to Antarctic funding are only likely to exacerbate the situation. Meanwhile China has built a fifth station in Antarctica and announced plans for a sixth.

Given the nation’s population and global influence, China’s leadership in Antarctic research is not surprising. If China were to take a lead in Antarctic environmental protection that matched its scientific heft, its move to lead position in the research ranks could be positive. Stronger multi-country collaboration in research could also strengthen overall cooperation.

But the overall drop in global Antarctic research investment is a problem however you look at it. We ignore it at our peril.

Elizabeth Leane receives funding from the Australian Research Council, the Dutch Research Council, the Council on Australian and Latin American Relations DFAT and HX (Hurtigruten Expeditions). She has received in-kind support from Hurtigruten Expeditions in the recent past. The University of Tasmania is a member of the UArctic, which has provided support for this project.

Keith Larson is affiliated with the UArctic and European Polar Board. The UArctic paid for the development and publication of this report. The UArctic Thematic Network on Research Analytics and Bibliometrics conducted the analysis and developed the report. The Arctic Centre at Umeå University provided in-kind support for staff time on the report.

– ref. Antarctic research is in decline, and the timing couldn’t be worse – https://theconversation.com/antarctic-research-is-in-decline-and-the-timing-couldnt-be-worse-260197
MIL OSI Analysis – EveningReport.nz –
July 3, 2025
MIL-Evening Report: Antarctic research is in decline, and the timing couldn’t be worse
Source: The Conversation (Au and NZ) – By Elizabeth Leane, Professor of Antarctic Studies, School of Humanities, University of Tasmania

Oleksandr Matsibura/Shutterstock

Ice loss in Antarctica and its impact on the planet – sea level rise, changes to ocean currents and disturbance of wildlife and food webs – has been in the news a lot lately. All of these threats were likely on the minds of the delegates to the annual Antarctic Treaty Consultative Meeting, which finishes up today in Milan, Italy.

This meeting is where decisions are made about the continent’s future. These decisions rely on evidence from scientific research. Moreover, only countries that produce significant Antarctic research – as well as being parties to the treaty – get to have a final say in these decisions.

Our new report – published as a preprint through the University of the Arctic – shows the rate of research on the Antarctic and Southern Ocean is falling at exactly the time when it should be increasing. Moreover, research leadership is changing, with China taking the lead for the first time.

This points to a dangerous disinvestment in Antarctic research just when it is needed, alongside a changing of the guard in national influence. Antarctica and the research done there are key to everyone’s future, so it’s vital to understand what this change might lead to.

Why is Antarctic research so important?

With the Antarctic region rapidly warming, its ice shelves destabilising and sea ice shrinking, understanding the South Polar environment is more crucial than ever.

Ice loss in Antarctica not only contributes to sea level rise, but impacts wildlife habitats and local food chains. It also changes the dynamics of ocean currents, which could interfere with global food webs, including international fisheries that supply a growing amount of food.

Research to understand these impacts is vital. First, knowing the impact of our actions – particularly carbon emissions – gives us an increased drive to make changes and lobby governments to do so.

Second, even when changes are already locked in, to prepare ourselves we need to know what these changes will look like.

And third, we need to understand the threats to the Antarctic and Southern Ocean environment to govern it properly. This is where the treaty comes in.

What is the Antarctic Treaty?

The region below 60 degrees south is governed by the 1959 Antarctic Treaty, along with subsequent agreements. Together they are known as the Antarctic Treaty System.

Fifty-eight countries are parties to the treaty, but only 29 of them – called consultative parties – can make binding decisions about the region. They comprise the 12 original signatories from 1959, along with 17 more recent signatory nations that produce substantial scientific research relating to Antarctica.

This makes research a key part of a nation’s influence over what happens in Antarctica.

For most of its history, the Antarctic Treaty System has functioned remarkably well. It maintained peace in the region during the Cold War, facilitated scientific cooperation, and put arguments about territorial claims on indefinite hold. It indefinitely forbade mining, and managed fisheries.

Lately, however, there has been growing dysfunction in the treaty system.

Environmental protections that might seem obvious – such as marine protected areas and special protections for threatened emperor penguins – have stalled.

Because decisions are made by consensus, any country can effectively block progress. Russia and China – both long-term actors in the system – have been at the centre of the impasse.

Read more:
Antarctic summer sea ice is at record lows. Here’s how it will harm the planet – and us

What did our report find?

Tracking the amount of Antarctic research being done tells us whether nations as a whole are investing enough in understanding the region and its global impact.

It also tells us which nations are investing the most and are therefore likely to have substantial influence.

Our new report examined the number of papers published on Antarctic and Southern Ocean topics from 2016 to 2024, using the Scopus database. We also looked at other factors, such as the countries affiliated with each paper.

The results show five significant changes are happening in the world of Antarctic research.
- The number of Antarctic and Southern Ocean publications peaked in 2021 and then fell slightly yearly through to 2024.
- While the United States has for decades been the leader in Antarctic research, China overtook them in 2022.
- If we look only at the high-quality publications (those published in the best 25% of journals) China still took over the US, in 2024.
- Of the top six countries in overall publications (China, the US, the United Kingdom, Australia, Germany and Russia) all except China have declined in publication numbers since 2016.
- Although collaboration in publications is higher for Antarctic research than in non-Antarctic fields, Russia, India and China have anomalously low rates of co-authorship compared with many other signatory countries.
Why is this research decline a problem?

A recent parliamentary inquiry in Australia emphasised the need for funding certainty. In the UK, a House of Commons committee report considered it “imperative for the UK to significantly expand its research efforts in Antarctica”, in particular in relation to sea level rise.

US commentators have pointed to the inadequacy of the country’s icebreaker infrastructure. The Trump administration’s recent cuts to Antarctic funding are only likely to exacerbate the situation. Meanwhile China has built a fifth station in Antarctica and announced plans for a sixth.

Given the nation’s population and global influence, China’s leadership in Antarctic research is not surprising. If China were to take a lead in Antarctic environmental protection that matched its scientific heft, its move to lead position in the research ranks could be positive. Stronger multi-country collaboration in research could also strengthen overall cooperation.

But the overall drop in global Antarctic research investment is a problem however you look at it. We ignore it at our peril.

Elizabeth Leane receives funding from the Australian Research Council, the Dutch Research Council, the Council on Australian and Latin American Relations DFAT and HX (Hurtigruten Expeditions). She has received in-kind support from Hurtigruten Expeditions in the recent past. The University of Tasmania is a member of the UArctic, which has provided support for this project.

Keith Larson is affiliated with the UArctic and European Polar Board. The UArctic paid for the development and publication of this report. The UArctic Thematic Network on Research Analytics and Bibliometrics conducted the analysis and developed the report. The Arctic Centre at Umeå University provided in-kind support for staff time on the report.

– ref. Antarctic research is in decline, and the timing couldn’t be worse – https://theconversation.com/antarctic-research-is-in-decline-and-the-timing-couldnt-be-worse-260197
MIL OSI Analysis – EveningReport.nz –
July 3, 2025

MIL-OSI Russia: IMF Executive Board Completes the First Review under the Extended Credit Facility Arrangement for the Democratic Republic of the Congo

Source: IMF – News in Russian

July 2, 2025

The IMF Executive Board has completed the first review under the Extended Credit Facility arrangement for the Democratic Republic of the Congo. The decision allows for an immediate disbursement of US$ 261.9 million towards international reserves, to continue building buffers.
The DRC’s economy has been resilient in a challenging environment amid the escalation of the armed conflict in the eastern part of the country, which placed significant strains on the budget. The authorities have made good progress on the structural reform’s agenda, but a few quantitative targets were missed.
The recent peace agreement signed between the governments of the DRC and Rwanda, mediated by the United States, is encouraging for the prospect of a peaceful resolution of the conflict and renewed focus on development goals.

Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the first review under the Extended Credit Facility (ECF) Arrangement for the Democratic Republic of the Congo (DRC) approved on January 15, 2025 (see PR 25/003). The completion of the first review allowed an immediate disbursement equivalent to 190.4 million SDR (about US$ 261.9 million) to support balance-of-payment needs, bringing the aggregate disbursement to date to 380.5 million SDR (about 523.4 US$ million).

The DRC has been facing significant challenges amid the intensification of the armed conflict in its eastern part since end-2024. The escalation of hostilities has claimed thousands of lives and caused severe social and humanitarian damages, including disruptions in access to essential services such as food, water, and electricity. Diplomatic efforts are ongoing to secure a cessation of hostilities and ensure sustainable peace in the region. The signing on June 27, 2025, of a peace agreement between the governments of the DRC and Rwanda, under the mediation of the United States, is encouraging for the prospect of a peaceful resolution on the ongoing conflict and renewed focus on addressing development goals.

Despite the challenging environment, economic activity remained resilient, with robust GDP growth of 6.5 percent in 2024, driven by continued dynamism in the extractive sector. External stability has strengthened, as the current account deficit narrowed and the accumulation of international reserves continued. Inflationary pressures continue to ease, and year-on-year inflation declined from 23.8 percent at end-2023 to 11.7 percent at end-2024 and [8.5] percent at end-June 2025.

Performance under the program was mixed, as the intensification of the conflict has placed significant strains on the budget. Despite strong revenue collection, the domestic fiscal deficit reached 0.8 percent of GDP in 2024, exceeding the program target of 0.3 percent, owing to spending overruns linked to the escalation of the conflict, including on exceptional security spending and public investments. The program target on the Central Bank of the Congo (BCC)’s foreign exchange assets held with domestic correspondents was missed as well, due to higher-than-expected tax payments in foreign currency on government accounts. Other quantitative performance criteria of the ECF were met. Most indicative targets were also met, except those related to the floor on social spending and the ceiling on spending executed through emergency procedures—owing to elevated exceptional security spending linked to the conflict intensification. Appropriate corrective measures are being implemented by the authorities.

In completing the first review, the Executive Board also approved the authorities’ request for waivers of nonobservance of the performance criteria on the floor on the domestic fiscal balance at end-December 2024 on the basis of corrective actions, and the continuous ceiling on the levels of foreign currency assets of the BCC held with domestic correspondents on the basis of the temporary nature of the deviation which has since been remedied. Further, the Executive Board completed the financing assurances review under the ECF arrangement. No reform measures under the Resilience and Sustainability Facility (RSF) arrangement, approved in January 2025, were due for review at this time.

At the conclusion of the Executive Board’s discussion, Mr. Okamura, Deputy Managing Director and Chair stated:

“The Democratic Republic of the Congo (DRC) has been confronted with heightened security challenges since late 2024. The escalation of the conflict in the eastern part of the country has caused serious human, social and economic damage and induced the government to increase spending. Despite these difficulties, the macroeconomic environment of the DRC remained broadly stable. Growth has remained robust, due to the resilience of mining production. Inflation continues to decrease, and the external position has strengthened. The economic outlook remains positive, but is fraught with downside risks related to the persistence of the conflict, declining external humanitarian assistance, global economic headwinds, and potential escalation of geopolitical conflicts. The authorities are committed to closely monitor these risks and to respond proactively to evolving challenges.

“Budget implementation remains challenging in a difficult security context. As a result, the domestic fiscal deficit is projected to be larger than initially projected for 2025, but is expected to return to the path envisaged at program approval starting in 2026, reflecting the authorities’ commitment to carry out measures to enhance domestic revenue mobilization and strengthen the budget implementation process. Additionally, to guard against unforeseen adverse shocks, the authorities have adopted a contingency plan.

“The Central Bank of the Congo (BCC) has maintained a tight monetary policy stance, thereby helping bring inflation down to single digits for the first time in three years. The accumulation of international reserves has continued, on the back of the narrowing of the current account deficit. Efforts must continue, to strengthen the monetary policy implementation framework, refine the foreign exchange intervention strategy, enhance the governance and safeguards of the BCC and ensure its adequate recapitalization.

“The authorities have committed to accompany these efforts to preserve macroeconomic stability with an acceleration of structural reforms in key areas, including strengthening the AML/CFT framework, improving the business climate, enhancing transparency and governance, combating corruption and upgrading national statistics. Efforts to lay the groundwork for a timely implementation of the reform measures underpinning the RSF arrangement approved in January should be stepped up.”

Table 1. Democratic Republic of the Congo: Selected Economic and Financial Indicators, 2023-26
	2023	2024		2025		2026
	Est.	CR No. 25/023	Prel.	CR No. 25/023	Proj.	CR No. 25/023	Proj.
	(Annual percentage change, unless otherwise indicated)
GDP and prices
Real GDP	8.5	6.0	6.5	5.4	5.3	5.1	5.3
Extractive GDP	19.7	11.6	12.2	7.7	8.2	5.2	5.8
Non-extractive GDP	3.5	3.2	3.5	4.2	3.6	5.0	5.0
GDP deflator	14.4	17.4	19.9	8.8	8.2	7.4	6.7
Consumer prices, period average	19.9	17.7	17.7	8.9	8.8	7.3	7.1
Consumer prices, end of period	23.8	12.0	11.7	7.8	7.8	7.0	7.0

	(Annual change in percent of beginning-of-period broad money)
Money and credit
Net foreign assets	19.9	17.4	23.0	18.2	14.5	23.7	22.7
Net domestic assets	20.3	4.9	5.6	-3.5	-1.0	-10.9	-10.5
Domestic credit	34.3	15.4	15.2	9.9	10.5	3.7	4.2
Broad money	40.3	22.4	28.1	14.7	13.8	12.8	12.3

	(Percent of GDP, unless otherwise indicated)
Central government finance
Revenue and grants	14.8	15.6	15.2	15.0	14.8	14.9	14.9
Expenditures	16.5	16.8	16.5	16.8	17.0	16.6	16.6
Domestic fiscal balance	-1.2	-0.3	-0.8	-0.8	-1.2	-0.8	-0.8

Investment and saving
Gross national saving	9.5	9.1	9.6	12.2	11.2	13.0	12.5
Investment	15.7	14.2	13.5	15.0	14.4	15.3	14.8
Non-government	12.0	10.0	10.0	10.0	10.0	10.0	10.0

Balance of payments
Exports of goods and services	44.0	45.1	47.4	45.4	46.1	45.5	46.6
Imports of goods and services	49.9	48.9	50.3	47.3	47.5	46.9	47.0
Current account balance, incl. transfer	-6.2	-5.1	-3.9	-2.8	-3.2	-2.4	-2.4
Current account balance, excl. transfers	-7.5	-5.1	-5.0	-2.7	-3.4	-2.3	-2.6
Gross official reserves (weeks of imports)	8.2	10.0	10.1	11.5	11.8	12.7	12.8

External debt
Debt service in percent of government revenue	7.6	5.7	6.1	6.7	7.1	7.0	7.4

Sources: Congolese authorities and IMF staff estimates and projections.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Tatiana Mossot

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

https://www.imf.org/en/News/Articles/2025/07/02/pr-25238-democratic-republic-of-the-congo-imf-completes-the-1st-rev-under-ecf-arrang

MIL OSI

MIL OSI Russia News –

July 3, 2025

MIL-OSI: Business First Bancshares, Inc. Announces Second Quarter 2025 Earnings Release Date and Conference Call

Source: GlobeNewswire (MIL-OSI)

BATON ROUGE, La., July 02, 2025 (GLOBE NEWSWIRE) — Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, announced today that it is scheduled to release its financial results for the second quarter ended June 30, 2025, before market open on Monday, July 28, 2025, at 7:00 a.m. CST. Executive management will host a conference call and webcast to discuss results on the same day (Monday, July 28, 2025) at 9:00 a.m. CST.

Interested parties may attend the call by dialing toll-free 1-800-715-9871 (North America only), conference ID 2799880 or asking for the Business First Bancshares conference call.

The live webcast can be found at https://edge.media-server.com/mmc/p/ jqbmtwns. On the day of the presentation, the corresponding slide presentation will be available to view on the b1BANK website at https://www.b1bank.com/shareholder-info.

About Business First Bancshares, Inc.

As of March 31, 2024, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $7.8 billion in assets, $7.1 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

Media Contact: Misty Albrecht b1BANK 225.286.7879 Misty.Albrecht@b1BANK.com
Investor Relations Contact: Gregory Robertson 337.721.2701 Gregory.Robertson@b1BANK.com	Matt Sealy 225.388.6116 Matt.Sealy@b1BANK.com

The MIL Network –

July 3, 2025

MIL-OSI New Zealand: Legal Cases – Greenpeace International begins groundbreaking Anti-SLAPP case to protect freedom of speech

Source: Greenpeace

In a landmark test case of the European Union’s new legislation to protect freedom of expression and stop abusive lawsuits, Greenpeace International has overnight challenged the US oil pipeline company, Energy Transfer, in court in the Netherlands.[1]

The multi-billion-dollar company brought two back-to-back SLAPP suits against Greenpeace International and Greenpeace in the US, after Greenpeace showed solidarity with the 2016 peaceful Indigenous-led protests against the Dakota Access Pipeline. The first case was dismissed, but the Greenpeace organisations continue to defend against the second case, which is ongoing, after a North Dakota jury recently awarded over 660 million USD in damages to the pipeline giant.Activists from Greenpeace International and allies were present outside the courthouse in Amsterdam for the first hearing in the case with a banner reading “ ENERGY TRANSFER, WELCOME TO THE EU – WHERE FREE SPEECH IS STILL A THING“. Mads Christensen, Executive Director, Greenpeace International, says: “Energy Transfer’s attack on our right to protest is an attack on everyone’s free speech. Greenpeace has been the target of threats, arrests and even bombs over the last 50 years and persevered. We will continue to resist all forms of intimidation and explore every option to hold Energy Transfer accountable for this attempt at abusing the justice system. This groundbreaking anti-SLAPP case against Energy Transfer in the Netherlands is just the beginning of defeating this bullying tactic being wielded by billionaires and fossil fuel giants trying to silence critics all over the world. Something absolutely vital is at stake here: people’s ability to hold corporate polluters to account for the devastation they’re causing.”

Russel Norman, Executive Director, Greenpeace Aotearoa, says: “The timing of this case is particularly poignant given that we are about to mark the 40th anniversary of the bombing of the Rainbow Warrior by agents of the French Government here in Auckland. The bombing was an act of desperation by the French Government in the face of our successful, people-powered campaign to end nuclear testing in the Pacific.

“Forty years ago, we showed that we could not be intimidated. Greenpeace only grew stronger, and together with the nuclear-free Pacific movement, we put a stop to nuclear testing. Now, as Greenpeace International goes to court in Amsterdam, Energy Transfer would also like us – and all climate activists – to be afraid and to shut up – but once again, we will show that we will not be silenced.”The lawsuit is an important test of the European Union’s Anti-SLAPP Directive, adopted in April 2024.[2] The Directive is designed to protect journalists, activists, civil society organisations, or anyone else speaking out about matters of public concern, from Strategic Lawsuits Against Public Participation (SLAPP) – unfounded intimidation lawsuits brought by powerful corporations or wealthy individuals seeking to suppress public debate.[3] Since Greenpeace International is a Netherlands-based foundation and the damage caused by Energy Transfers’s US SLAPP suit is occurring in the Netherlands, both Dutch and EU law apply.

Amy Jacobsen, Senior Legal Counsel, Greenpeace International, says, “This case paves the way for protections from bullying lawsuits being implemented throughout Europe and beyond. The lawsuits that Energy Transfer have brought against Greenpeace International are the perfect example of the kind of abusive legal proceedings that the anti-SLAPP Directive is designed to protect against. By calling upon the EU anti-SLAPP Directive’s protections, Greenpeace International refuses to allow the bullying tactics of wealthy fossil fuel corporations like Energy Transfer to compromise our fundamental free speech rights.”

Following a dawn ceremony on the 10 July 2025 in Auckland, the Rainbow Warrior will be open to the public for tours and talks with the crew on the week

MIL OSI New Zealand News –

July 3, 2025
MIL-OSI USA: ICE HSI Newark operation makes 18 arrests, takes down Newark open-air drug market

Source: US Immigration and Customs Enforcement

NEWARK, N.J. –U.S. Immigration and Customs Enforcement Homeland Security Investigations Newark and multiple federal, state and local partners made 18 arrests of alleged co-conspirators for roles in a drug trafficking organization on July 1 in Newark, New Jersey.

The arrests are a result of a 14-month HSI Newark investigation with the Newark Police Department and the U.S. District Attorney for the District of New Jersey.

“In addition to the 18 arrests, HSI’s investigation led to federal charges filed against 24 individuals and we executed seven federal search warrants in and around Essex County, New Jersey,” said HSI Newark Special Agent in Charge Ricky J. Patel during a press conference following the operation. “Law enforcement partnership and teamwork were essential in our success. I am proud to say these alleged conspirators operating the sale of narcotics primarily from the Bradley Court Public Housing Complex have been stopped thanks to thousands of hours of police work. The livelihood of the tenants throughout 10 three-story apartment buildings who have been plagued by this dangerous enterprise for far too long can now feel a sense of safety and security.”

On July 2, two additional defendants were arrested. Four remain at large.

HSI Newark’s investigation uncovered a complex criminal enterprise with ties to transnational organized crime, that distributed more than 400 grams of fentanyl and a kilo of heroin. During the takedown operation, approximately $113,000 dollars in bulk cash/drug proceeds, illicit firearms, ammunition, narcotics, including 28 bricks of fentanyl and heroin, and vehicles were seized.

According to the investigation, the defendants are members or associates of Sex, Money, Murder—a Blood affiliated criminal street gang (“Enterprise” or “the Enterprise”) that controls the drug trade in Bradley Court Housing Complex located near North Munn Avenue and Tremont Avenue in Newark. The Enterprise are also known as Munn Block, M-Blok, and Tombstone Gang (TSG). Munn Block are closely aligned with another Blood affiliated gang known as Voorhees, who operate around Voorhees Street—members and associates of the Enterprise refer to the collective union as “MunnHees”.

“It is critical for the public to understand that these individuals engaged in the most dangerous of action, were armed and were involved in shootings,” said SAC Patel. “They peddled narcotics to include fentanyl, heroin, and crack cocaine, all while risking the lives of those around them for power and money. Surveillance, undercover activity and electronic monitoring were just some of the necessary steps needed to bring these individuals to justice.”

For over a year, law enforcement conducted extensive surveillance of the area, conducted numerous controlled purchases of narcotics, seized narcotics through enforcement action, and analyzed telephone records, all of which demonstrated extensive interactions between and among the charged defendants. Members and associates of the Enterprise are known to use social media on a variety of platforms and mobile applications, including Instagram, YouTube, X (formerly Twitter), Signal, Telegram, and WhatsApp to conduct the business of the Enterprise, communicate with one another, promote the Enterprise through sharing photographs and videos, and further the Enterprise’s goals. Specifically, the Enterprise uses the release and promotion of drill rap songs and music videos on social media to intimidate rival gang members, witnesses, and other members of the community, and to promote the Enterprise.

“For far too long, the Bloods have overtaken the Bradley Court Housing Complex — turning its courtyards and residential buildings into a hub for pumping deadly fentanyl into the city of Newark, while endangering the lives of the citizens who call this community home.” said U.S. Attorney Alina Habba. “This poison has ripped families apart and stolen countless lives. That stops today. These arrests affirm my office’s commitment to taking guns and drugs off the streets and serves as a clear warning to anyone who considers engaging in violent activity. The defendants in this case, as in all criminal cases, are presumed innocent unless, and until proven guilty. However, everyone should understand that if you spread this poison or engage in this violent activity, we will use every resource necessary to find you, dismantle your operation, and prosecute you.”

Other agencies who supported HSI Newark’s investigation and operations were the U.S. Customs and Border Protection, Federal Bureau of Investigation, U.S. Marshals Service, Essex County Prosecutor’s Office, Middlesex County Prosecutor’s Office, the New Jersey State Police, Newark Police Department, East Orange Police Department and the Newark Housing Authority Security Department.

Shamon Freshley, a/k/a “Hitta,” 26, Orlando Pizarro, a/k/a “Lando,” 26, Zakir Jefferson, a/k/a “Gu,” a/k/a “Tank,” 26, Quayyon Johnson, a/k/a “Weeze,” 22, Melvin Faines, a/k/a “Spaz,” 34, Afrika Islam, a/k/a “Sexx,” 29, Shaheem Webb, a/k/a “YC,” 23, Eustace Weeks, a/k/a “Juxx,” 26, Ali Baker, a/k/a “Surf,” 34, Jose Ward, a/k/a “Hec,” 22, Brandon Sneed, a/k/a “Pops,” 31, Eric Banks, a/k/a “Lil Maneskii,” 19, Tauheed Carney, a/k/a “Bmunn,” 21, Tykee Stokes, a/k/a “Big,” 32, Shafeek Barker, a/k/a “Sha,” 28, Ibn Perry, a/k/a “Loop,” 38, Alvin Jones, a/k/a “Lucky,” 41, Kirk Mansook, a/k/a “Crow,” 39, Tyjanique Green, a/k/a “Ski,” 24, Jubar Hughes, a/k/a “Dudu,” 27, Daisean Williams, a/k/a “Khaos,” 22, Jason Wardlaw, a/k/a “Jayr,” 30, and Rana James a/k/a “Pooh,” 28, all of Essex County, New Jersey, were charged with one count of conspiracy to distribute fentanyl, heroin, and cocaine.

Sebastian Pierrecent, a/k/a “Sosa,” 21, Quayyan Johnson, and Tauheed Carney are also each charged with possession of a machine gun. In addition, Pierrecent is charged with possession of firearms and ammunition by a convicted felon.

Pierrecent, Johnson, and Carney, are also charged with possession of a machine gun that was used in the June 17 shooting in rival gang territory near Mapes Avenue in Newark.

The defendants charged in the drug conspiracy face a mandatory minimum penalty of 10 years in prison, maximum potential penalty of life in prison, and a $10 million fine. Pierrecent, Johnson, and Carney each face up to 10 years in prison for possession of the machinegun. Pierrecent faces up to 15 years in prison for possession of firearms and ammunition as a convicted felon.

MIL OSI USA News –

July 3, 2025
MIL-OSI Australia: Consumers warned about ‘ghost stores’ imitating Australian businesses
Source: Australian Ministers for Regional Development

The ACCC is warning consumers about the operators of four websites allegedly misrepresenting themselves as local businesses, also known as ‘ghost stores’.

It is alleged these four ghost store operators are harming consumers by making false representations that they are local Australian businesses, imminently closing down, and selling high-quality clothing and footwear products, when they are instead based overseas, not imminently closing down, and are drop-shipping low-quality products.

The ACCC has issued Public Warning Notices to warn consumers about specific conduct by the operators of the following four websites: everly-melbourne.com, willowandgrace-adelaide.com, sophie-claire.com and doublebayboutique.com.

“We are warning Australians about the risks of engaging with these four websites specifically, which we allege are not based in Melbourne, Adelaide or Double Bay, nor are they imminently closing down,” ACCC Deputy Chair Catriona Lowe said.

“We further allege that the operators of these websites are supplying products which are not of the advertised quality.”

The ACCC’s Public Warning Notices follow an increased number of consumer reports to the ACCC in recent months about online ghost stores. Since the start of 2025, the ACCC estimates it has received at least 360 reports about 60 online retailers, though media reports suggest many more may be in operation.

The ACCC is concerned that, beyond these four websites, this type of conduct appears to be widespread, and that there are many other online ghost stores in operation that may also be falsely claiming to be local boutiques and supplying poor quality products.

The ACCC is also aware of complaints about ghost stores refusing to provide refunds, or only offering partial refunds, to consumers who have complained about the inferior quality of the goods compared to the advertised descriptions, or not responding to complaints at all.

Ghost stores have been known to target consumers through social media ads and also tend to close and rebrand under new names, often using different Australian suburbs, towns or cities in their names to appear ‘local’.

“We urge all Australians to think twice before clicking on ads they see on social media which claim to be from a boutique business based in a local town or city,” Ms Lowe said.

“Often ghost stores will share an emotional story on their social media or website that they are a small, locally operated business, needing to close for financial reasons.”

“They will claim they are having a ‘closing down sale’ as a result, with all stock heavily discounted and available on a very limited basis,” Ms Lowe said.

“This conduct preys on the empathy of consumers who have a genuine desire to support local businesses, as well as creating a false sense of urgency.”

“The websites often use a similar format to many other online stores, advertising high-quality boutique clothing at heavily discounted prices. However, when the product arrives in the mail, consumers report receiving cheap, mass-produced products that have been sold at an inflated price and do not fit their advertised quality or description,” Ms Lowe said.

Ghost stores sometimes use a name that is similar to that of a genuine local boutique, leading to competitive and reputational harm for those businesses.

The ACCC understands ghost stores use targeted paid advertisements on social media sites such as Facebook and Instagram and often appear to use the Shopify e-commerce platform to host and operate their webstores.

“We have written to both Meta Platforms (as the owner of Facebook and Instagram) and Shopify to request they scrutinise and take appropriate action against the operators of ghost stores,” Ms Lowe said.

“We want to increase public awareness of these dishonest businesses so that Australians know how to spot them and can avoid being deceived into buying an inferior product.”

Signs that an online business could be a ghost store
- The store may have an Australian place in its name or domain, but the website domain is ‘.com’ and not ‘.com.au’.
- The website for the store often features a fake backstory relating to the owners and claims that, for financial or other reasons, the store is closing down. Advertisements on social media platforms, including Facebook or Instagram, will often claim that the closing down sale ‘ends tonight’.
- Use of AI generated images of the owners or team. This can sometimes be indicated in the URL.
- The returns policy on the website for the store will often suggest that items will need to be returned to a warehouse or general location overseas which is different from where the items are allegedly shipped from, for example, a store that claims to be based in Melbourne but requires returns to be sent to a warehouse in Asia.
- The website does not provide a contact phone number or physical address for the store, or indeed any contact details beyond an email address or web form.
- The website’s Privacy Policy or Terms of Service refers to international laws and regulations instead of Australian laws.
- The website does not provide an ABN (Australian Business Number) or ACN (Australian Company Number) for the business.
- Review platforms, like Trustpilot, often have negative reviews for the business, whereas the business’ website only features very positive reviews.
- The business’ Facebook page was only created recently and has negative reviews or lots of negative emoji reactions to its posts.
- The images of the products may be taken from other websites where the products are advertised under different descriptions and for much lower prices.
Tips to help determine if an online store is genuine or not

The ACCC is urging consumers to check the business name on the Australian Business Register lookup and to use reverse image or ‘Google Lens’ searches of product photos on the website to see if they have been taken from another site.

Consumers should also check if the store is listed in a local business directory for the location the store claims to be in, or to look for the business name in a search engine and read reviews from other consumers.

Don’t just rely on the reviews on the business’ website as these may not be legitimate. Make further inquiries and if in doubt, do not purchase from the retailer.

What to do if you have purchased something from a ghost store

Consumers should contact their bank or payment provider immediately to see if you can stop the transaction or reverse the charge.

Consumers can also leave a negative review on the business’ Facebook page or a review site like Trustpilot.

Where consumers have accessed the websites via social media ads they can make a complaint directly to the relevant platform. For example, complaints can be made to Facebook, and should include a screenshot of the store ad and/or page, and if the website is hosted by Shopify, the merchant can be reported.

The website can be reported to Google to have it delisted, and a report can also be made to the ACCC. Consumers can also report websites to ScamWatch.

Screenshots of the websites referred to in the Public Warning Notices

Background

Consumer and fair-trading concerns in the supermarket and retail sectors, with a focus on misleading pricing practices, are a compliance and enforcement priority for the ACCC in 2025-26.

In addition to the conduct outlined above, consumer reports to the ACCC suggest that, when approached, ghost stores do not honour their returns policy and either stop responding to emails or offer only a partial refund.

In some cases, a partial refund is offered but only if the item is shipped back to an overseas warehouse at the consumer’s expense.

Note to editors

The ACCC may issue a Public Warning Notice to warn consumers about the conduct of a person or business where it has reasonable grounds to suspect a breach of certain provisions of the Australian Consumer Law, and it is satisfied that one or more persons has suffered, or is likely to suffer, detriment as a result of the conduct, and that it is in the public interest to issue the notice.

MIL OSI News –
July 3, 2025
MIL-OSI USA: Hickenlooper, Polis, DeGette, Neguse, Crow, Pettersen Denounce Republicans’ Reckless Budget Bill, Pressure House Members to Vote Against It

US Senate News:

Source: United States Senator for Colorado John Hickenlooper
Yesterday, Senate Republicans passed their budget that’ll increase prices for Coloradans, strip health care from 17 million Americans, increase the deficit, and give tax cuts to the ultra-wealthy
House Republicans are currently voting on the bill
WASHINGTON – Today, U.S. Senator John Hickenlooper, Colorado Governor Jared Polis, and U.S. Representatives Diana DeGette, Joe Neguse, Jason Crow, and Brittany Pettersen held a virtual statewide press conference to detail the impact the Republican budget bill will have on Colorado. They urged the House of Representatives to reject the extreme legislation after it passed the Senate yesterday. The elected officials were joined by leaders from across Colorado who would be impacted by the harmful cuts in the legislation.
“This was a vote that would strip 17 million Americans, including many, many children, of their health care, push more than 300 rural hospitals to close, gut investments in affordable and clean energy, and would expand our national debt at a level that we have never imagined before. All this just to accommodate these lavish tax cuts for wealthy Americans,” said Hickenlooper. “This fight isn’t over, and people calling and organizing, putting pressure, has had a huge effect.”
“Budgets reflect values, and Republicans in Congress – including members of our delegation – are making it clear that they don’t value health care access for Coloradans, access to food for children and families, job creators in clean energy, or balancing the budget,” said Polis.
“The bottom line is, this bill is the worst bill I’ve ever seen in my many years in Congress,” said DeGette. “Colorado hospitals would lose $10 billion in federal funding in this legislation. Many of the rural hospitals, particularly in Western and Northern Colorado, will have to go out of business. This will not only hurt people who get Medicaid. It will hurt the entire community.”
“It would be devastating for Western Colorado, Northern Colorado, Southern Colorado, for rural Colorado in particular…” said Neguse. “This will clearly exacerbate and turbo charge a poverty crisis in our country by virtue of the cruel cuts that have been included in the bill…. So we’re going to use every procedural tool that we can to try to stop and block this bill from proceeding.”
“We can’t understate the disastrous impact in the life and death consequence of this bill,” said Crow. “This is the single largest – if this bill passes – this will be the single largest transfer of wealth from the working class to the top one percent and large corporations in the history of America. And on top of that, it’s going to blow up the budget and add over $3 trillion to the debt.”
“It is heartbreaking to think about the impacts that this disastrous bill is going to bring to communities in Colorado and across the country,” said Pettersen. “Today, I’m thinking about the 40% of kids in the United States who rely on Medicaid for care, the 40% of pregnant women who rely on Medicaid, and people like my mom who work a low wage job and would be unable to access care. We’re leaving people like her behind and decimating all the progress we’ve made to build up our capacity and our system across Colorado. And it’s going to hit all of us.”
The Senate-passed reconciliation bill includes a $3 trillion tax cut for the wealthiest Americans. It pays for those tax cuts by taking healthcare away from 17 million Americans, forcing rural hospitals in Colorado to close their doors, gutting clean energy investments, and ballooning our national debt by trillions of dollars.
After more than 24 hours of voting with a record-setting number of amendments, Hickenlooper voted NO on the budget resolution after Republicans voted down critical Democratic-led amendments to prevent cuts to Medicaid, SNAP, and Inflation Reduction Act clean energy funding.
The reconciliation bill now heads to the House for final passage. Only four House Republicans need to vote against the bill for it to fail.
For video clips of the press conference, click HERE.
Taking Health Care Away from 17 Million Americans
The Republican budget proposal calls for extreme Medicaid cuts of more than $1 trillion, which would take away people’s health benefits; make it harder for them to see their health care providers; and prevent seniors from getting nursing home care. It also fails to extend the Affordable Care Act expanded premium tax credits, which expire at the end of 2025. As a result the Congressional Budget Office estimates that 17 million Americans will lose health insurance by 2034, and our national debt will increase by $3.3 trillion.
“For every dollar invested in Medicaid in Colorado, we see more than double in economic activity and benefit returned. That means these cuts will have a huge ripple effect and severely harm our economy, and it will hit rural areas where Medicaid is most important the hardest,” said Adam Fox, Deputy Director at the Colorado Consumer Health Initiative. “At the end of the day, though, what this means, and what we hear from folks who rely on Medicaid and the Affordable Care Act, is this bill is going to force more Coloradans into impossible decisions between paying for the care that they need and keeping a roof over their head or food on their table.”
“I can’t underscore how important Medicaid and the [ACA] health exchanges are for our patients for Sunrise and for our community…” said Mitzi Moran, CEO of Sunrise Community Health in Evans. “Medicaid expansion in 2008 and in 2013 changed things dramatically for our patients and for Sunrise… [our patients] still struggle with the tough choices, but at least medication is not in the mix, and they have coverage when they seek care at the hospital.”
“Southwest Health Systems is a 20 bed, critical access hospital… Our physicians and advanced practice providers deliver primary care services for almost 9,000 members of our Southwest Colorado communities. Our emergency department provided services to more than 13,500 urgent and emergency conditions last year in 2024,” Joe Theine, CEO of Southwest Health System in Cortez. “Permanent cuts to the provider taxes and state directed payments, along with other changes to the Medicaid program, put at risk the services that we offer to people who live, work and travel throughout Southwest Colorado.”
“I have two adult children with developmental disabilities, a 24 year old son and a 20 year old daughter. Our family members are recipients of Medicaid Home and Community Based Services (HCBS) waivers, and these are not known by the general public very well, but they are state specific programs under Medicaid that provide much more than basic health care and dental care,” said Deana Cairo, Disability Rights Activist. “[Eligibility redeterminations every six months] is likely to result in more problems… There’s going to be service interruptions, loss of care. People are going to fall off the rolls. People who don’t have people to advocate and appeal for them are going to become unhoused. It’s going to be a disaster.”
Slashing Investments in Clean Energy and Driving up Energy Bills
The Republicans voted to gut hundreds of billions in Inflation Reduction Act (IRA) clean energy investments, including tax credits for wind and solar. The results: over a million jobs lost, hundreds of billions in lost GDP and lost wages, electricity price inflation, and killing new renewable energy needed to prevent blackouts.
“Republicans are always talking about independence and being dominant in our industries. This is how we become energy dominant. It’s not just wind. It’s not just solar. It’s not just natural gas plants. It’s not just nuclear power plants. It takes every single one of these technologies for us to create that.” said Josh Shipley, Owner of Alternative Power Enterprises in Ridgway. “And this is this bill is going to kill that – there’s no ifs, ands, or buts about it. Small businesses like mine will go out of business because of it. There will not be the workforce that is going to be required to create that energy dominance later, when they’ve realized what they’ve done.”
“By cutting these energy tax credits, they are going to end so much of the thriving industry, the jobs and the new electrons that are being put on the grid, and ultimately, they’re going to hurt local communities and our low cost energy right now,” said KC Becker, CEO of Colorado Solar and Storage Association and former EPA regional administrator.
Hickenlooper took to the Senate floor in the middle of the night in support of his amendment to protect the IRA’s residential clean energy credit. He also worked with his colleagues to alter a few of the worst clean energy proposals, including eliminating a devastating renewable energy excise tax.
Crushing Safety Net Programs Coloradans Depend on
The Republican bill also rips away financial safety nets and crucial programs from millions of Americans, including the federal Supplemental Nutrition Assistance Program (SNAP) that supports 55,000 Coloradans.
“The majority of the households that would be affected by this bill, as mentioned, are working families with children, seniors, veterans and people with disabilities. With these high levels of food insecurity, food banks like ours cannot meet the increased need without vital federal assistance programs,” said Sue Ellen Rodwick, Western Slope Director of Food Bank of the Rockies. “One story I have is from a woman that one of my staff members was able to help out in Meeker. An older adult and she didn’t know that she would qualify for SNAP. We got her signed up for SNAP and our food program for older adults. She said it’s amazing, because even just the drive to the grocery store from Meeker to Rifle, that’s a 40 minute drive to get to a larger grocery store with affordable prices. This program makes a difference for so many people, and we need the funding for that outreach to help people give them assistance to enroll in SNAP.”

MIL OSI USA News –

July 3, 2025
We thank Ghana for its cooperation in our fight against terrorism: PM Modi in Accra

Source: Government of India

Source: Government of India (4)

Prime Minister Narendra Modi on Wednesday said India and Ghana are in complete agreement that “terrorism is an enemy of humanity” and thanked Ghana for its cooperation in India’s fight against terrorism.

PM Modi held delegation-level talks with Ghana’s President John Mahama during his first-ever bilateral visit to the West African country.

“We discussed shared visions on development, economic regions, and inclusive global governance. We are in full agreement that terrorism is an enemy of humanity. We thank Ghana for its cooperation in our fight against terrorism. In this context, we agreed to further strengthen mutual cooperation in counter-terrorism,” the Prime Minister said.

Stressing the shared values on which India-Ghana ties are based, PM Modi said: “At the core of the India-Ghana friendship lie our shared values, common struggles, and collective dreams for an inclusive future. The freedom struggles of our nations have inspired many other countries. Even today, Ghana stands as a vibrant democracy in West Africa and serves as a strong and living example for other countries.”

PM Modi also said that it was a matter of great honour for him that President Mahama himself came to the airport to receive him.

Apart from discussions on development, the economy and inclusive global governance with President Mahama, PM Modi also underlined the need for reforms in the United Nations.

“We share a common perspective on the need for reforms in the United Nations. Mr President, you are a close friend of India and are very familiar with our country. I extend to you an invitation to visit India. I am confident you will give us the opportunity to host you in India soon,” he added.

“Our bilateral trade has crossed $3 billion. Indian companies have invested nearly $2 billion in about 900 projects across Ghana. Today, we have set a target to double our mutual trade in the next five years. In the field of fintech, India is ready to share its experience of UPI digital payments with Ghana. Development partnership is a key pillar of our cooperation. We assure President Mahama of India’s full support and cooperation in his efforts towards economic revitalisation,” Modi said.

The two leaders discussed various aspects of enhancing cooperation between India and Ghana across a wide range of sectors.

Mahama said both countries are looking to expand economic and diplomatic ties at a crucial time for Ghana’s economy.

“Both countries are committed to deepening economic and investment relations, particularly at a time when Ghana is undergoing economic restructuring due to the debt treatment process and the ongoing International Monetary Fund programme. Going forward, Ghana and India intend to pursue these engagements through diplomatic mechanisms, including Foreign Office Consultations and the Permanent Joint Commission for Cooperation, to bring to fruition the intended outcomes of our partnership for mutual benefit,” Mahama said.

“This visit is particularly significant, as it marks the first leg of Prime Minister Narendra Modi’s Africa tour, which will culminate in the BRICS Summit in Brazil. The two sides have engaged in meaningful discussions to deepen cooperation across various sectors of our economies, including agriculture, energy, manufacturing, infrastructure development, human resources, and health, among others,” Mahama added.

IANS

July 3, 2025
We thank Ghana for its cooperation in our fight against terrorism: PM Modi in Accra

Source: Government of India

Source: Government of India (4)

Prime Minister Narendra Modi on Wednesday said India and Ghana are in complete agreement that “terrorism is an enemy of humanity” and thanked Ghana for its cooperation in India’s fight against terrorism.

PM Modi held delegation-level talks with Ghana’s President John Mahama during his first-ever bilateral visit to the West African country.

“We discussed shared visions on development, economic regions, and inclusive global governance. We are in full agreement that terrorism is an enemy of humanity. We thank Ghana for its cooperation in our fight against terrorism. In this context, we agreed to further strengthen mutual cooperation in counter-terrorism,” the Prime Minister said.

Stressing the shared values on which India-Ghana ties are based, PM Modi said: “At the core of the India-Ghana friendship lie our shared values, common struggles, and collective dreams for an inclusive future. The freedom struggles of our nations have inspired many other countries. Even today, Ghana stands as a vibrant democracy in West Africa and serves as a strong and living example for other countries.”

PM Modi also said that it was a matter of great honour for him that President Mahama himself came to the airport to receive him.

Apart from discussions on development, the economy and inclusive global governance with President Mahama, PM Modi also underlined the need for reforms in the United Nations.

“We share a common perspective on the need for reforms in the United Nations. Mr President, you are a close friend of India and are very familiar with our country. I extend to you an invitation to visit India. I am confident you will give us the opportunity to host you in India soon,” he added.

“Our bilateral trade has crossed $3 billion. Indian companies have invested nearly $2 billion in about 900 projects across Ghana. Today, we have set a target to double our mutual trade in the next five years. In the field of fintech, India is ready to share its experience of UPI digital payments with Ghana. Development partnership is a key pillar of our cooperation. We assure President Mahama of India’s full support and cooperation in his efforts towards economic revitalisation,” Modi said.

The two leaders discussed various aspects of enhancing cooperation between India and Ghana across a wide range of sectors.

Mahama said both countries are looking to expand economic and diplomatic ties at a crucial time for Ghana’s economy.

“Both countries are committed to deepening economic and investment relations, particularly at a time when Ghana is undergoing economic restructuring due to the debt treatment process and the ongoing International Monetary Fund programme. Going forward, Ghana and India intend to pursue these engagements through diplomatic mechanisms, including Foreign Office Consultations and the Permanent Joint Commission for Cooperation, to bring to fruition the intended outcomes of our partnership for mutual benefit,” Mahama said.

“This visit is particularly significant, as it marks the first leg of Prime Minister Narendra Modi’s Africa tour, which will culminate in the BRICS Summit in Brazil. The two sides have engaged in meaningful discussions to deepen cooperation across various sectors of our economies, including agriculture, energy, manufacturing, infrastructure development, human resources, and health, among others,” Mahama added.

IANS

July 3, 2025
MIL-OSI United Kingdom: Former health charity Chair disqualified for benefitting from almost £350k of charity funds
Source: United Kingdom – Executive Government Non-Ministerial Departments

Press release

Former health charity Chair disqualified for benefitting from almost £350k of charity funds

The Charity Commission has concluded its inquiry into Island Health Trust.
In a report published today, the charity regulator concludes there was a significant misuse of funds at Island Health Trust, determining its spending on consultants and advisors excessive, unreasonable and disproportionate. It found former trustees failed to act in the charity’s best interests and did not operate exclusively within the charity’s purposes.

Island Health Trust was set up to promote the provision of primary healthcare, establish centres to provide healthcare within the London Boroughs of Tower Hamlets and Newham, and provide grants for health-related education and facilities.

The Commission started monitoring the charity in 2017 following concerns raised about how charity funds were being used and potential private benefit to one or more trustees. The Commission had additional concerns which led it to escalate its engagement to a formal inquiry in November 2017.

Following an extensive investigation, the Commission has disqualified the charity’s former Chair, Suzanne Goodband, from serving as a trustee. The regulatory action was taken after the inquiry found the former Chair benefitted from £349,955 over a two-year period – amounting to 60% of the charity’s income. The disqualification is in place for 7 years and only applies to being a trustee.

The Commission is also critical of a decision taken by the charity to appoint a consultant known to the former Chair who was paid a total of £105,834.88 across two financial years.

Both of these payments were made for project management services after the charity was approached by a property developer in 2014. The proposal would have involved the charity selling a long lease to the developer, potentially generating more income for the charity. However, the benefits were speculative.

After being approached, the trustees spent funds on project management services to set out a new strategic direction for the charity. The Commission found the amount spent on a project with only speculative benefits to be excessive. The eventual benefits never materialised, and the proposed new direction of the charity did not stay within the purposes it was set up to achieve.

The inquiry also found the decision to enter into a contract with a private company owned by the former Chair was not in the charity’s best interest nor were conflicts of interest sufficiently managed.

Wider findings include a lack of oversight of the former Chair by other former trustees and breaching the charity’s governing document by paying two former trustees sums of £15,913 and £8,325. Charities must ensure they follow their governing document when it comes to paying trustees. These failures were a breach of trust and amounted to misconduct and/or mismanagement.

During the inquiry, the Charity Commission appointed an interim manager to the charity to work alongside the current trustees. The interim manager was tasked with reviewing the concerns raised about the former trustees and supporting legal action by the current trustees which recovered £165,000 of charity funds.

Amy Spiller, Head of Investigations at the Charity Commission, said:

We as the regulator, and the public, rightly expect trustees to spend funds in a way that best achieves their charity’s purpose. While charities can enter into contracts with parties connected to the trustees, this should be cost effective to ensure funds ultimately help those in need, and the conflict of interest must be properly managed.

The actions by the former trustees of Island Health Trust fell short of these expectations and the excessive spending was unjustified.

I’m pleased following our intervention that funds have been recovered and a new trustee board can give the charity a fresh start.

The report, which includes the full findings, is available on GOV.UK.

ENDS

Notes to editors:

The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society.

The Commission opened a statutory inquiry into the charity under s46 of the Charities Act 2011. A statutory inquiry is a legal power enabling the Commission to formally investigate matters of regulatory concern within a charity and to use protective powers for the benefit of the charity and its beneficiaries, assets, or reputation. An inquiry will investigate and establish the facts of the case so that the Commission can determine the extent of any misconduct and/or mismanagement; the extent of the risk to the charity, its work, property, beneficiaries, employees or volunteers; and decide what action is needed to resolve the concerns.

On 18 July 2019, the Inquiry exercised the Commission’s power to appoint an Interim Manager. Having completed the scope of their appointment, the Interim Manager was discharged on 23 March 2020. More information about the Charity Commission’s appointment of Interim Managers can be found on GOV.UK.

Our guidance on paying trustees can be found on GOV.UK.

Press office

Email pressenquiries@charitycommission.gov.uk

Out of hours press office contact number: 07785 748787

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Published 3 July 2025
MIL OSI United Kingdom –
July 3, 2025

MIL-OSI: NuVista Energy Ltd. Announces Updated Annual Production Guidance Due to Third Party Midstream Delays

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, July 02, 2025 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (TSX:NVA, “NVA” or “NuVista”) is providing revised guidance to our annual production volumes and reiterating our commitment to our shareholder return strategy. Due to continued delays in commissioning the Pipestone Gas Plant (“Pipestone Plant”) and additional required work discovered during a gas plant turnaround in the greater Wapiti area (“Wapiti Turnaround”), we now anticipate annual volumes to average approximately 83,000 Boe/d⁽¹⁾. The impact of the delays due to the Pipestone Plant and Wapiti Turnaround on annual production volumes is approximately 3,500 Boe/d and 6,000 Boe/d, respectively. Both third-party facilities are expected to be fully operational prior to September.

It is important to note the nature of the Wapiti Turnaround. These activities take place once every four years and were planned for in our annual budget. However, additional work was discovered that the operator has chosen to proceed with to set the plant up for a major life extension, increase throughput and improve reliability. Although undertaking this work has increased the duration of the turnaround, we are supportive of it being completed at this time and are looking forward to decades of reliable processing capacity to support NuVista’s growth strategy.

NuVista’s operations continue to progress extremely well with 43 new wells expected to be available for production by the end of the third quarter, setting us up for fourth quarter volumes to exceed 100,000 Boe/d as planned. As a result of the delays noted above, production in the second quarter averaged approximately 73,500 Boe/d. A comprehensive update on our continued well cost achievements, production performance and production guidance for the third quarter will be provided with our second quarter earnings release in August.

Importantly, we are reiterating our commitment to our shareholder returns strategy. Our pristine balance sheet, opportunistic hedging, and less intensive second half 2025 capital plan will allow us to continue to make significant progress on our share repurchase program despite the reduced outlook in our annual production volumes. At current commodity price levels, we anticipate generating approximately $150 million in free adjusted funds flow⁽²⁾ in the second half of the year, the majority of which will be directed to the share repurchase program. We plan to maintain debt levels below our soft ceiling of $350 million and have flexibility in our capital plans to adapt if there is downward pressure in commodity prices.

We would like to thank our staff and contractors for their continued commitment to advancing NuVista’s delivery of top-tier returns to shareholders. So far this year, we have achieved a new record production in the first quarter of just under 90,000 Boe/d and have repurchased 7.9 million shares representing a 3.3% reduction to the number of shares outstanding at the beginning of the year. With 43 new wells ready for production once the facility work is complete, we will be in a strong position to produce above 100,000 Boe/d in the fourth quarter of the year.

Note:

(1)	See “NuVista Guidance Information”.
(2)	“Free adjusted funds flow” is a non-GAAP financial measure that do not have any standardized meanings under IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures” in NuVista’s MD&A for the three months ended March 31, 2025 for historical information on free adjusted funds flow, which information is incorporated by reference into this press release and can be found on NuVista’s SEDAR+ profile at www.sedarplus.ca.

About NuVista

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play. The common shares of NuVista trade on the TSX under the symbol NVA. Learn more at www.nuvistaenergy.com.

Advisories Regarding Oil and Gas Information

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Basis of presentation

The reporting and measurement currency is the Canadian dollar. National Instrument 51-101 – “Standards of Disclosure for Oil and Gas Activities” includes condensate within the product type of natural gas liquids. NuVista has disclosed condensate values separate from natural gas liquids herein as NuVista believes it provides a more accurate description of NuVista’s operations and results therefrom.

NuVista Guidance Information

NuVista has updated its guidance for 2025 annual average daily production to approximately 83,000 Boe/d and its 2025 second quarter production estimate to 73,500 Boe/d. The production split for Boe/d amounts referenced in this press release are as follows:

*Reference*	*Total Boe/d*	*Natural Gas* %	*Condensate* %	*NGLs* %

Q2 2025 production estimate	~73,500	62%	29%	9%
Q2 2025 production guidance (original) ⁽¹⁾	75,000 – 77,000	62%	29%	9%
2025 annual production guidance (revised)	~83,000	61%	30%	9%
2025 annual production guidance (original) ⁽¹⁾	~90,000	61%	30%	9%

Note:

(1) As of May 8, 2025.

In this press release reference is made to 2025 price outlook in the forecast of annual free adjusted funds flow. The forecast is based on 2025 price assumptions of: US$65/Bbl WTI, US$3.70/MMBtu NYMEX, C$2.00/GJ AECO and 1.38:1 CAD:USD FX.

Advisory Regarding Forward-Looking Information and Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The use of any of the words “will”, “expects”, “believe”, “plans”, “potential” and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements, including but not limited to:

the expected impact to annual production caused by delays in the third party infrastructure in the Pipestone and Wapiti areas;
the expected timing of start-up of a third-party gas plant in the Pipestone area as well as expected timing of the completion of third-party turnaround activities in the greater Wapiti area;
revised guidance with respect to annual 2025 production and production mix;
expectations with respect to second quarter 2025 production as compared to previously provided guidance;
expectations that production in the fourth quarter will exceed 100,000 Boe/d;
that NuVista will continue to be able to make significant progress on its share repurchase program;
that an update of well cost achievements, production performance and production guidance for the third quarter of 2025 will be provided in our August earnings release;
that we will generate free adjusted funds flow of approximately $150 million in the second half of 2025;
our ability to continue directing free adjusted funds flow towards our share repurchase program; and
that we will maintain debt levels below our soft ceiling of $350 million.

The future acquisition of our common shares pursuant to a share buyback (including through our normal course issuer bid), if any, and the level thereof is uncertain. Any decision to acquire common shares pursuant to a share buyback will be subject to the discretion of the Board of Directors and may depend on a variety of factors, including, without limitation, NuVista’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on NuVista under applicable corporate law. There can be no assurance of the number of common shares that NuVista will acquire pursuant to a share buyback, if any, in the future.

By their nature, forward-looking statements are based upon certain assumptions and are subject to numerous risks and uncertainties, some of which are beyond NuVista’s control, including the climate and impact of weather conditions on our assets, personnel, third party infrastructure and the communities where we work. NuVista has included the forward-looking statements in this press release in order to provide readers with a more complete perspective on NuVista’s future operations and such information may not be appropriate for other purposes. The forward-looking information contained herein are expressly qualified in their entirety by this cautionary statement.

This press release also contains financial outlook and future oriented financial information (together, “FOFI”) relating to NuVista including, without limitation, free adjusted funds flow in the second half of 2025 and 2025 annual and second quarter production which are based on, among other things, the various assumptions disclosed in this press release including under “Advisory Regarding Forward-Looking Information and Statements”. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and the impact of the tariffs on NuVista’s business operations and financial condition, while currently unknown, may be material and adverse and, as such, undue reliance should not be placed on FOFI. NuVista’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits NuVista will derive therefrom. NuVista has included the FOFI in order to provide readers with a more complete perspective on NuVista’s future operations and such information may not be appropriate for other purposes.

These forward-looking statements and FOFI are made as of the date of this press release and, except NuVista disclaims any intent or obligation to update any forward-looking statements and FOFI, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws, NuVista undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise law.

The MIL Network –

July 3, 2025

MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of MRC Global Inc. (NYSE: MRC)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating MRC Global Inc. (NYSE: MRC) related to its merger with DNOW, Inc. in which MRC shareholders will receive 0.9489 shares of DNOW common stock for each share of MRC common stock. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/mrc-global-inc/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: reAlpha Enhances Mortgage Operations with AI-Powered Loan Officer Assistant

Source: GlobeNewswire (MIL-OSI)

DUBLIN, Ohio, July 02, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (Nasdaq: AIRE) (the “Company” or “reAlpha”), an AI-powered real estate technology company, today announced the launch of its AI-powered Internal Loan Officer Assistant. This newly released AI-powered assistant is designed to streamline administrative tasks within the mortgage division, driving operational efficiency and enhancing loan processing accuracy.

The introduction of the AI Loan Officer Assistant is part of reAlpha’s broader strategy to enhance its mortgage operations. This initiative builds on the Company’s recent acquisitions, including Be My Neighbor and GTG Financial, which have expanded reAlpha’s mortgage services footprint across 30 U.S. states.

“Our mission is to deliver exceptional service without sacrificing the human connection that defines the homebuying experience,” said Jamie Cavanaugh, Chief Executive Officer at Be My Neighbor. “By automating time-consuming tasks, we empower our team members to increase their productivity and support more consumers. This AI-powered Loan Officer Assistant is not a replacement for people: it’s a force multiplier that allows mortgage professionals to focus more time on what truly matters: helping individuals and families navigate the path to homeownership with confidence and care.”

Early operational results¹ show that reAlpha’s AI Loan Officer Assistant reduces manual document preparation and reconciliation time by approximately 60 percent at the loan processing stage. By automating one-third of the loan intake process, the tool accelerates document classification, labeling, and validation. This efficiency would enable loan teams to process up to 40 additional loans per month per officer, enabling teams to support increased loan volumes while preserving service quality and positioning reAlpha’s mortgage division for scalable growth.

This launch aligns with industry trends, as financial institutions are increasingly adopting AI to reduce operational costs and improve service delivery. Industry data indicates that AI integration in mortgage lending can increase loan origination volumes by up to 50%, reduce underwriting cycle times by 50%, and cut operational costs by as much as 30-50%.² Moreover, AI-driven automation has been shown to improve borrower experience through faster approvals and personalized service, factors critical to competitive positioning in today’s market.³

reAlpha’s AI Loan Officer Assistant will continue to evolve, expanding to handle more complex mortgage scenarios. The company’s technology roadmap includes the rollout of additional features aimed at further improving loan processing speed, accuracy, and scalability as market demands grow.

________________________________
_{¹ These early operational results are based on preliminary internal testing with a limited sample size and have not been independently verified.}
_{²https://www.scnsoft.com/lending/mortgage/artificial-intelligence}
_{³https://riverjournalonline.com/around-town/real-estate/how-ai-will-shape-the-mortgage-industry-in-2025/199032/}

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company transforming the multi-trillion-dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines real estate transactions through integrated brokerage, mortgage, and title services. With a strategic, acquisition-driven growth model and proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a simpler, smarter, and more affordable path to homeownership. For more information, visit www.realpha.com.

Forward-Looking Statements
The information in this press release, including early operational results relating to the AI Loan Officer Assistant, includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements by Be My Neighbor’s Chief Executive Officer, Jamie Cavanaugh, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; the inability to maintain and strengthen reAlpha’s brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for AI-based real estate-focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:
Cristol Rippe, Chief Marketing Officer
media@realpha.com

Investor Relations Contact:
Adele Carey, VP of Investor Relations
investorrelations@realpha.com

The MIL Network –

July 3, 2025
MIL-OSI: reAlpha Enhances Mortgage Operations with AI-Powered Loan Officer Assistant

Source: GlobeNewswire (MIL-OSI)

DUBLIN, Ohio, July 02, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (Nasdaq: AIRE) (the “Company” or “reAlpha”), an AI-powered real estate technology company, today announced the launch of its AI-powered Internal Loan Officer Assistant. This newly released AI-powered assistant is designed to streamline administrative tasks within the mortgage division, driving operational efficiency and enhancing loan processing accuracy.

The introduction of the AI Loan Officer Assistant is part of reAlpha’s broader strategy to enhance its mortgage operations. This initiative builds on the Company’s recent acquisitions, including Be My Neighbor and GTG Financial, which have expanded reAlpha’s mortgage services footprint across 30 U.S. states.

“Our mission is to deliver exceptional service without sacrificing the human connection that defines the homebuying experience,” said Jamie Cavanaugh, Chief Executive Officer at Be My Neighbor. “By automating time-consuming tasks, we empower our team members to increase their productivity and support more consumers. This AI-powered Loan Officer Assistant is not a replacement for people: it’s a force multiplier that allows mortgage professionals to focus more time on what truly matters: helping individuals and families navigate the path to homeownership with confidence and care.”

Early operational results¹ show that reAlpha’s AI Loan Officer Assistant reduces manual document preparation and reconciliation time by approximately 60 percent at the loan processing stage. By automating one-third of the loan intake process, the tool accelerates document classification, labeling, and validation. This efficiency would enable loan teams to process up to 40 additional loans per month per officer, enabling teams to support increased loan volumes while preserving service quality and positioning reAlpha’s mortgage division for scalable growth.

This launch aligns with industry trends, as financial institutions are increasingly adopting AI to reduce operational costs and improve service delivery. Industry data indicates that AI integration in mortgage lending can increase loan origination volumes by up to 50%, reduce underwriting cycle times by 50%, and cut operational costs by as much as 30-50%.² Moreover, AI-driven automation has been shown to improve borrower experience through faster approvals and personalized service, factors critical to competitive positioning in today’s market.³

reAlpha’s AI Loan Officer Assistant will continue to evolve, expanding to handle more complex mortgage scenarios. The company’s technology roadmap includes the rollout of additional features aimed at further improving loan processing speed, accuracy, and scalability as market demands grow.

________________________________
_{¹ These early operational results are based on preliminary internal testing with a limited sample size and have not been independently verified.}
_{²https://www.scnsoft.com/lending/mortgage/artificial-intelligence}
_{³https://riverjournalonline.com/around-town/real-estate/how-ai-will-shape-the-mortgage-industry-in-2025/199032/}

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company transforming the multi-trillion-dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines real estate transactions through integrated brokerage, mortgage, and title services. With a strategic, acquisition-driven growth model and proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a simpler, smarter, and more affordable path to homeownership. For more information, visit www.realpha.com.

Forward-Looking Statements
The information in this press release, including early operational results relating to the AI Loan Officer Assistant, includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements by Be My Neighbor’s Chief Executive Officer, Jamie Cavanaugh, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; the inability to maintain and strengthen reAlpha’s brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for AI-based real estate-focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:
Cristol Rippe, Chief Marketing Officer
media@realpha.com

Investor Relations Contact:
Adele Carey, VP of Investor Relations
investorrelations@realpha.com

The MIL Network –

July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Launch One Acquisition Corp. (NASDAQ: LPAA)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Launch One Acquisition Corp. (NASDAQ: LPAA) related to its merger with Minovia Therapeutics Ltd., in which Launch One shareholders will be eligible for a one-to-one exchange of shares in the new company, Mito US One Ltd. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/launch-one-acquisition-corp/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI USA: Hoeven Outlines Permanent Tax Relief for American Families, Workers & Small Businesses

US Senate News:

Source: United States Senator for North Dakota John Hoeven
07.02.25
One Big Beautiful Bill Preserves & Expands Tax Breaks for Low- and Middle-Income Households, Empowers Small Businesses, Farmers & Ranchers to Invest in Their Operations
BISMARCK, N.D. – Senator John Hoeven today held a press conference with local business leaders and community members to discuss the benefits of the One Big Beautiful Bill (OBBB) to families and small businesses in North Dakota. Hoeven stressed the legislation maintains and expands tax benefits for low- and middle-income households, reduces the tax burden on workers and boosts the U.S. economy. Combined, the bill’s provisions:
Preserve $4 trillion in tax relief.
Will increase take-home pay by up to $10,900 in the first four years for the typical family, resulting from economic growth and tax relief.
For Families and Individuals:
Permanently extends current individual tax rates and bracket changes of the Tax Cuts and Jobs Act.
This includes maintaining the increased standard deduction, which benefits, and helps simplify income taxes for, the vast majority of taxpayers.

Eliminates taxes on tips and overtime for millions of American workers.
Supports families by increasing and making permanent the enhanced child tax credit at $2,200, with $1,700 of that amount being refundable, adjusted for inflation.
Provides permanent relief from the death tax by setting the exemption to $15 million or $30 million for those married filing jointly, adjusted for inflation.
Establishes savings accounts for newborns to help build financial security.
Creates a new $6,000 tax deduction for millions of low- and middle-income seniors.
Combined with other deductions, this will result in the average beneficiary paying zero taxes on Social Security.

For Small Businesses:
Permanently extending the Section 199A pass-through deduction for small businesses, farmers and ranchers, including the Section 199A(g) deduction used by agricultural cooperatives.
Increasing the Section 179 expensing to $2.5 million and increasing the phaseout for qualified property at $4 million.
Establishing a 100 percent accelerated depreciation for new industrial and manufacturing facilities that begin construction between 2025-2028.
Making permanent the 30 percent interest expense allowance.
Permanently extending the 100 percent research and development deduction.
Making permanent 100 percent bonus depreciation.
“At its core, the tax provisions in the One Big Beautiful Bill are about allowing American workers and small businesses to keep more of their hard-earned money,” said Hoeven. “We worked to ensure this legislation provides trillions in tax relief for everyday Americans on a permanent basis. This includes preserving a higher standard deduction, expanding benefits for families with children and eliminating taxes on tips, overtime and Social Security for millions of workers and seniors, respectively. This will not only increase the quality of life for households throughout our country, but it will strengthen our economy by enabling businesses to invest in their operations, recoup their costs and create good-paying jobs across sectors.”

MIL OSI USA News –

July 3, 2025
MIL-OSI USA: Ernst Secures a Win for Iowa Farm Families

US Senate News:

Source: United States Senator Joni Ernst (R-IA)
Published: July 2, 2025
Ernst-led provision eliminates FAFSA restrictions that limit opportunities for farm kids to attend college.
WASHINGTON – U.S. Senator Joni Ernst’s (R-Iowa) bipartisan Family Farm and Small Business Exemption Act that keeps higher education accessible for Iowa farm families has passed the Senate as part of the One Big Beautiful Bill.
The bill reverses changes to the Free Application for Federal Student Aid (FAFSA) process that could reduce or even eliminate access to need-based aid for students of farm families and small business owners. It restores the original guidelines that exempt all farmland, machinery, other operational materials, and small businesses with fewer than 100 employees from being declared on the FAFSA form.
“After the Biden administration botched the FAFSA rollout at the expense of farm families, I am proud to right that wrong and ensure unfair policies don’t hold Iowans back from investing in their child’s education,” Ernst said. “Reopening pathways to financial aid for rural students in need is yet another way the One Big Beautiful Bill takes a stand for Iowans and ensures the next generation of students will have the opportunity to pursue higher education.”
Background:
In the wake of the Biden administration’s botched FAFSA rollout, Ernst consistently stood up for Iowa families to ensure they aren’t left behind when it comes to college aid opportunities. She helped pass the FAFSA Deadline Act into law to give families the certainty they deserve, conducted critical oversight, demanded answers on behalf of agricultural communities, and worked to get input directly from impacted Iowans.

MIL OSI USA News –

July 3, 2025
MIL-OSI Russia: Georgia’s External Debt Reaches $25.5 Billion

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

Tbilisi, July 2 (Xinhua) — Georgia’s total external debt as of March 31, 2025 reached $25.5 billion, accounting for 74.2 percent of GDP over the past four quarters, the National Bank of Georgia (Central Bank) said on Wednesday.

In the first quarter of 2025, Georgia’s external debt increased by $300.4 million.

Of the total, $11 billion is the state debt, of which $8.5 billion is the government debt, $822.8 million are the National Bank’s obligations, $449 million and $1.2 billion are the debt of state-owned enterprises on bonds and loans, respectively.

According to the Central Bank, 88.6 percent of external debt is denominated in foreign currency. –0–

MIL OSI Russia News –

July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of IGM Biosciences, Inc. (NASDAQ: IGMS)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating IGM Biosciences, Inc. (NASDAQ: IGMS) related to its merger to Concentra Biosciences, LLC for $1.247 in cash per share of IGM Biosciences common stock, plus one non-tradeable contingent value right, which represents the right to receive: (i) 100% of the closing net cash of IGM Biosciences in excess of $82.0 million; and (ii) 80% of any net proceeds received within one year following closing from any disposition of certain of IGM Biosciences’ product candidates and intellectual property that occurs within one year following closing. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/igm-biosciences-inc/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of AlphaTime Acquisition Corp. (NASDAQ: ATMCR)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating AlphaTime Acquisition Corp. (NASDAQ: ATMCR) related to its merger with HCYC Holding Co., in which AlphaTime shares will be cancelled in exchange for the right to receive a Class A share of HCYC Holding Company. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/alphatime-acquisition-corp/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Cartica Acquisition Corp. (OTCMKTS: CRTAF)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Cartica Acquisition Corp. (OTCMKTS: CRTAF) related to its merger with Nidar Infrastructure Ltd., in which the pre-transaction equity value of Nidar implied by the proposed transaction’s terms is approximately $2.75 billion. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/cartica-acquisition-corp/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Gryphon Digital Mining, Inc. (NASDAQ: GRYP)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Gryphon Digital Mining, Inc. (NASDAQ: GRYP) related to its reverse merger with American Bitcoin Corp. Upon completion of this transaction American Bitcoin shareholders will own approximately 98% of Gryphon while existing Gryphon shareholders will retain only 2% of the post-closing ownership. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/gryphon-digital-mining-inc-2/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Aimei Health Technology Co., Ltd (NASDAQ: AFJKU)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) related to its merger with United Hydrogen Global, Inc., in which Aimei shareholders will be eligible for either (i) a redemption of their shares for $10.00; or (ii) becoming Class A shareholders in the combined company with minimal voting influence. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/aimei-health-technology-co-ltd/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Big 5 Sporting Goods Corp. (NASDAQ: BGFV)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) —

Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Big 5 Sporting Goods Corp. (NASDAQ: BGFV) related to its sale to a partnership comprised of Worldwide Golf and Capitol Hill for $1.45 share in cash without interest to Big 5 Sporting Goods shareholders. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/big-5-sporting-goods-corp/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
July 3, 2025
MIL-OSI Russia: Kingdom of the Netherlands – Curaçao: Staff Concluding Statement of the 2025 Article IV Mission

Source: IMF – News in Russian

July 2, 2025

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

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

Washington, DC.

Curaçao’s economic activity expanded by 5 percent in 2024, as strong tourism performance trickled into the wider economy. Stayover arrivals, growing at double digits, continued to outperform Caribbean peers and carried over to other sectors, including whole trade, real estate, and construction. Mostly related to holiday homes and hotels, construction was further fueled by strong mortgage growth and complemented by a resumption of public investments under the Road Maintenance Plan. Average headline inflation declined to 2.6 percent in 2024 from 3.5 percent in 2023, in line with global oil prices and lower US inflation. Real wages increased for the first time in five years but job creation continued to be dominated by informal construction and tourism-related sectors while formal employment declined. The primary surplus continued its upward trajectory on the back of increased tax collection on goods and services. The current account deficit widened due to higher merchandise imports, mainly related to construction activity.

The government is pursuing an ambitious agenda to steer a now tourism-led economy, amidst heightened global uncertainty. Mindful of tourism saturation and a decoupling of local living standards, the authorities strive to improve social conditions while generating sustainable and green growth amid safeguarding solid public finances. The near doubling of the tourism footprint within five years brought profound structural shifts to Curaçao’s economy, including the decline in manufacturing and rise in services, lower overall wages, higher informality, and greater reliance on – more regressive – indirect taxation. Policy responses need to shift accordingly. Priorities are rightly focused on upgrading tourist experiences and diversification, improving skills and labor market conditions, and reforming the tax system in an equitable way while addressing social spending pressures. The administration has delivered on a first round of targeted, one-off pension increases this year, continued reforms to contain health costs, expanded investment in education infrastructure, and came closer to its renewables target with the opening of the latest wind park in 2024. The landspakket, a structural reform package agreed with the Netherlands in 2020, continues to guide structural reforms.

Outlook and Risks

Growth is projected to moderate to 4 percent in 2025, balancing domestic impulses and heightened global uncertainty, before gradually converging to 2 percent over the medium term. Further expansion of stayover tourism and construction activity will continue to support growth in 2025, along with fiscal expansion driven by higher public investments. Potential negative effects of slowing global demand and heightened uncertainty would dampen tourism flows towards the end of 2025 and 2026. Growth is expected to moderate to 2 percent over the medium term, given saturation in tourism and slower global demand, while public capital spending would be carried forward, including in road infrastructure and the energy value chain. Headline inflation is projected to stabilize at 2.5 percent in 2025, subject to oil price-related uncertainty. Fiscal accounts would remain in surplus, fully compliant with the fiscal rule, allowing the government to partially settle a large bullet loan in 2025 with own liquid reserves, thereby accelerating the impressive downward trajectory of debt. The current account deficit would decline in the medium term but remain elevated.

Risks to the outlook are tilted to the downside. External risks include trade policy and investment shocks, which could induce higher inflation and lower external demand, adversely impacting tourism arrivals. Domestic upside risks include faster-than-expected advances in the green hydrogen value chain project and development of other energy sources. On the downside, lower-than-expected disbursements in public investments and delays in infrastructure improvements could set back the expected increase in potential growth from the expansion of hotel capacities. Continued high growth in mortgage credit fueling rising house prices could lead to financial sector as well as household balance sheet vulnerabilities. Buffers include access to favorable refinancing conditions on the Dutch capital market, subject to compliance with the fiscal rule, which grants the island substantial fiscal space, notably for capital and emergency spending.

Tailoring Fiscal and Structural Policies to a Tourism-led Economy

Safeguarding Medium-term Fiscal Sustainability

Reaching the medium-term debt target and further sustaining growth will require weighing the need to boost investments and address social spending pressures while reforming the tax system in an equitable manner.

Advancing healthcare reforms is an urgent priority to restore the sector’s financial sustainability and limit medium-term fiscal risks. Annual deficits of the SVB healthcare fund amounted to around 5 percent of GDP over the past years, excluding central government transfers, with an additional 1 percent of GDP annual deficit by the Curaçao Medical Center. Transfers to the latter were recently increased to better cover operating costs and invest in new medical equipment, but the health system’s overall finances remain unsustainable. Curaçao’s health expenses, around 13 percent of GDP, stand out relative to regional peers and surpass the OECD average. Possible efficiency gains on the spending side would include additional volume and price measures for pharmaceuticals, re-evaluation of laboratory service tariffs, further expansion of primary care to contain hospital visits, and improvements in preventive care, with the latter likely to materialize over the longer horizon. Revenue reform options would include a broadening of the contributor base, e.g., via the inclusion of migrant workers, increasing co-payments for higher-income households, allowing for price differentiation for the privately insured, exploring options to charge for add-on services, with a possible secondary, private insurance market for these services, and expanding the potential in medical tourism.

The authorities’ plans to adjust pension benefits for lower-income households in a fiscally responsible manner are welcome and should be accompanied by widening the contribution base. Staff welcomes the intention to reassess benefit levels, given the pausing of indexation and a decline in real per capita benefits by 23 percent between 2016 and 2024. Applying inflation indexation to residents’ pensions only would allow for a broadly balanced budget of the old-age pension scheme (before central government transfers). Considerations to providing a supplement for low-income pensioners, which could cost around ½ percent of GDP per year, should be partially financed by broadening the contributor base. Legalizing predominantly young migrant workers and providing incentives for them and their employers to formalize (see below) would increase revenues by about 0.3 percent of GDP. Ensuring longer-term sustainability of social insurances would likely imply tapping general budget resources, which could be expanded with selected measures while avoiding earmarking (see below). Meanwhile, the current draft law to make second-pillar occupational pension plans mandatory would reduce reliance on old-age pensions and increase private savings, which would also help alleviate the sizable current account deficit.

The authorities envisage the introduction of a VAT while continuing the modernization of the tax authority and improving revenue collection. Given Curaçao’s already significant tax burden and the recent expansion of direct taxation from a pre-pandemic average of 11 percent of GDP to 14 percent of GDP in 2024, plans to design the envisaged VAT reform in a revenue-neutral and equity-enhancing way are welcome. Expanding property taxation on second homes should be prioritized, as well as the purchase and implementation of digital infrastructure to modernize Curaçao’s tax system. Further considerations to introduce a tourism fee (by 2026), end tax holidays on import duties, and adjust permitting fees would lift revenues and contribute to compensating for potential pension increases.

Further efforts are needed to boost investments and improve government service delivery. While capacity constraints were successfully addressed in the ramp-up of investments in 2024, including by hiring external project managers, capacity in planning and execution must be strengthened further to administer the needed investment increase of 2-3 percent of GDP in the coming years, including via a centralized investment planning unit. Implementing multi-year project budgeting and establishing a transparent procurement system will be critical to improve execution, ensure the efficient allocation of financing resources, and grant space to a gradual inclusion of adaptation investments against damage from sea level rise. Efforts to render health and pension spending as well as goods and services taxation more equitable hinge on improving means-testing and maintaining a state-of-the-art registry for lower-income households.

Labor Market Policies to Address Informality and Improve Education

Informality could be addressed by strengthening incentives for formal work, improving enforcement and monitoring, and tightening eligibility criteria for receiving benefits. Decomposing changes in the formal workforce over the past decade, the strong decline in formal employment was mostly driven by a drop in registered jobs among men, especially in prime working age. Half of this decline cannot be explained by demographics, migration, or unemployment, and is likely attributed to the transition to informality. Tourism and construction sectors offer relatively more opportunities for informal work, making it harder to design the right incentives for formalization. Incentivizing formality, however, is crucial to maintaining government revenues and ensuring social protection for workers, and could be fostered by: facilitating access to education, increasing formal sector productivity, introducing more in-work benefits for workers with incomes between minimum and median wage, and stricter eligibility criteria for monthly assistance, along with strengthening enforcement and monitoring.

Skill deterioration compounded by population aging is a key drag on long-term potential growth. The 2023 census showed that education levels of new entrants to the labor force are below the level of the pre-retirement cohort, and young employees tend to work in more precarious positions. Ongoing investments in education, in line with landspakket recommendations, including in schools’ physical as well as digital infrastructure, are very welcome. Recent initiatives to attract graduates back to the island, including with tax incentives, and an expedited labor permitting process for high-skill workers are important steps in the right direction. These could be complemented by vocational training to lift the overall skill level and reduce skill mismatches, in line with government’s proposed stimulation package with incentives for employer-led vocational education. Integrating migrants into the workforce would grant them perspectives to grow and invest in their skills.

Fostering Competitiveness and Diversification

Bracing for slower growth and mindful of market saturation and the global context, the authorities’ focus is rightly on tourism value added and diversification of source markets. Roads and transportation are among the key bottlenecks of the island, and more public investments are needed to improve the connectivity within the island for tourists to venture out. Public and private investments should also be directed to maritime infrastructure to attract more yacht tourists and move up the tourism value chain. Increasing the number of taxi licenses is welcome and will improve tourist experiences through better mobility. Efforts to tap markets in South America have proven successful, and new flight routes opened from Brazil, Argentina, and Colombia, countries with a large consumer base and rising purchasing power.

Fostering non-tourism sectors in areas of competitive advantage would help build resilience against global shocks and attract additional investments. Building on recent successful reforms to expedite business permits and promote digitalization, more progress is needed to achieve the authorities’ goals as outlined in the National Export Strategy. Curaçao’s connection to a new submarine cable throughout the Caribbean and Miami from 2027 onwards could help expand the island’s data center industry – conditional on sufficient absorption capacity of the electricity grid and a moderation in electricity prices, which remain among the highest in the region. Planned investments in the grid by Aqualectra would be supported by funding from the Netherlands and provide the basis for lifting renewables electricity production to 70 percent by 2027 from around 50 percent currently. The envisaged floating offshore wind park of 3-10 GW would help cover Curaçao’s entire electricity demand and create new export opportunities, in addition to exploratory investments in other energy sources.

In the presence of global uncertainty, diversification of trade as well as regional integration are key for mitigating Curaçao’s exposure to external shocks. Curaçao’s imports remain concentrated on advanced markets, providing ample room to expand goods imports from neighboring countries, such as Brazil and Colombia. As a new associate CARICOM member and acknowledging limitation of independent trade policy given Kingdom laws, Curaçao should continue strengthening regional cooperation and trade integration with neighboring states.

The authorities’ commitment to lower corruption vulnerabilities are welcome. The online gaming law has been approved by parliament in end-2024, an important step towards meeting the landspakket’s rule of law target. Curaçao’s recent accession to the UN Convention Against Corruption and delisting from the EU grey list of non-cooperative jurisdictions, following key legal updates in 2024, is another step in the right direction and opens doors for further international cooperation and bilateral tax treaties, as pursued by the authorities. The mutual evaluations of the AML/CFT frameworks for both Curaçao and Sint Maarten are underway, with results expected to be published in mid-July 2025.

The Monetary Union of Curaçao and Sint Maarten

The external balance of the Union is expected to improve, following a mild deterioration in 2024. The Union’s current account deficit widened to around 17 percent of GDP in 2024 driven by higher imports, mainly related to construction on Curaçao, and despite strong growth in tourism receipts. Going forward, stronger travel receipts, moderation in construction-related imports, and an increase in renewables would support a contraction of the Union’s current account deficit towards 10 percent of GDP in the medium term. The deficit will continue to be financed by private investment inflows and decumulation of assets abroad. The stock of international reserves would remain broadly stable and adequate over the medium term. Given still sizable deficits and a sustained real effective exchange rate appreciation, staff’s preliminary assessment suggests that the external position in 2024 was weaker than the level implied by fundamentals and desirable policies in Curaçao and broadly in line in Sint Maarten, albeit subject to high uncertainty given persistent measurement biases. The assessment for the Union is the same as for Curaçao due to its larger size and current account deficits.

The monetary policy stance is appropriate and continues to support the peg. Following developments in the US, the CBCS cut its benchmark pledging rate by a cumulative 100 basis points in September and November 2024 to 4.75 percent, and has kept it unchanged since then, in line with the pegged exchange rate regime. Transmission to banking sector interest rates continues to be weak, as deposit rates stayed broadly constant throughout the recent tightening and easing cycles, with a mild uptick in late 2023 driven by time deposits, and Union lending rates declined between 2018 and end 2024. Excess liquidity is the key impediment to the transmission, further exacerbated by the absence of interbank and government securities markets.

With lending rates declining, credit growth has accelerated, entirely driven by mortgages in Curaçao. Mortgage credit in the union, the second highest in the Caribbean, has been growing by double digits in real terms post pandemic, while real overall credit growth has been negative. Driven by Curaçao, mortgages are expected to remain on an upward trajectory, including financing for the construction of second homes and vacation rental apartments. In Sint Maarten, on the contrary, mortgage credit growth turned negative in 2024, possibly reflecting delays in construction projects and cross-border financing on the French side. With the islands’ financial sectors predominantly financing tourism-related activities, credit to non-tourism sectors is declining in real terms.

The financial sector is broadly sound and systemic risks are contained, but mortgage growth needs to be monitored closely while a macroprudential toolkit is further developed. Banks are well capitalized, among the highest in the region, but both NPLs and provisioning remain weaker than the CBCS early warning signal – and with respect to peers. Liquidity is abundant and has further increased, but the Union’s banks are somewhat less profitable than the Caribbean median and concentration remains high. Closely monitoring mortgage growth to detect overheating in the real estate sector and possible vulnerabilities in household balance sheets should become a priority, in particular given continued data gaps. Overcoming these gaps and further developing a macroprudential toolkit towards the introduction of CCyBs, and thresholds for the loan-to-value and debt-service-to-income ratios are warranted to detect vulnerabilities and ensure timely response to potential shocks. Caps on mortgage credit growth or mortgage loan exposure could be applied should the positive mortgage credit gap widen further.

The IMF mission would like to thank the authorities for their cooperation and the candid and constructive discussions that took place during June 18-25.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Reah Sy

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

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/07/02/07022025-curacao-staff-concluding-statement-of-the-2025-article-iv

MIL OSI

MIL OSI Russia News –

July 3, 2025
MIL-OSI USA: PHILADELPHIA – Governor Shapiro Announces Major New Private Sector Investment to Expand Shipbuilding at Philadelphia Navy Yard

Source: US State of Pennsylvania

July 03, 2025 – Philadelphia, PA

ADVISORY – PHILADELPHIA – Governor Shapiro Announces Major New Private Sector Investment to Expand Shipbuilding at Philadelphia Navy Yard

Governor Josh Shapiro will join Rhoads Industries to announce a major new private sector investment in the company’s manufacturing operations at the Philadelphia Navy Yard.

Governor Shapiro and his Administration have secured $25.2 billion in private sector investments over the last two years, growing Pennsylvania’s economy and creating nearly 11,000 jobs across the Commonwealth.

WHO:
Governor Josh Shapiro
Dan Rhoads, CEO, Rhoads Industries
Joe Welsh, Director of Government Affairs, Rhoads Industries
Boots Olson, Apprentice, Rhoads Industries

WHEN:
Thursday, July 3, 2025, at 10:30 AM

The press conference will begin around 11:00 AM.
LIVE STREAM:
pacast.com/live/gov
governor.pa.gov/live/

RSVP:
Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

MIL OSI USA News –

July 3, 2025
MIL-OSI USA: Governor Kehoe Signs Five Bills into Law
Source: US State of Missouri

JULY 2, 2025

Jefferson City — Today, Governor Mike Kehoe signed five pieces of legislation into law: Senate Bills (SB) 28 and 396, and House Bills (HB) 105, 169, and 974.

“Today, we were proud to sign five bills that will benefit businesses and local governments across our state,” said Governor Kehoe. “Thank you to the men and women of the General Assembly for sending many pieces of quality legislation to my desk this session. We look forward to signing even more legislation that improves the lives of Missourians next week.”

SB 28, sponsored by Senator Jason Bean and Representative Donnie Brown, modifies provisions relating to transportation.
- Adds retired law enforcement and judicial members to the confidential motor vehicle and drivers licensing records statute.
- Requires motor vehicle sales taxes to be paid before a temporary tag can be issued. This now includes transactions between individuals and through out-of-state dealers.
  - The effective date of this is delayed until the Missouri Department of Revenue’s (DOR) Motor Vehicle and Driver License System is completed.
- Modifies specialty license plate provisions, including creating a new United States Space Force military specialty license plate.
- Places vehicle, boat, and powersports dealers on a level playing field in regards to the fees they are required to remit to DOR.
SB 396, sponsored by Senator Ben Brown and Representative Brad Banderman, authorizes the board of trustees of a consolidated public library district to change the dates of the fiscal year.
- Allows the board of trustees of a consolidated library district to select a different fiscal year structure than the state fiscal year calendar.
HB 105, sponsored Representative Jeff Vernetti and Senator Mike Bernskoetter, authorizes the conveyance of certain state property.
- Outlines the deed property language for the conveyance of the Lee C. Fine Memorial Airport from the Missouri Department of Natural Resources to the city of Osage Beach, giving Osage Beach more freedom and flexibility to make improvements without grant funding.
- Conveys two tracts of land from the site of the former Missouri State Highway Patrol Troop A Headquarters located in Lee’s Summit. The land will be conveyed from the State of Missouri to the Missouri Highways and Transportation Commission for the purpose of a new intersection, allowing the outer roads and city streets to be received by Lee’s Summit once the new bridge and intersection is completed.
- Outlines the deed property language for conveying a tract of land in Webster County from the State of Missouri to the Missouri Highways and Transportation Commission, allowing for improvements to increase road safety by reducing conflict points, decreasing congestion, and replacing aging infrastructure.
HB 169, sponsored by Representative Donnie Brown and Senator Jason Bean, modifies provisions relating to cotton trailers.
- Redefines “cotton trailers,” increasing the allowed maximum speed to 70 MPH from 40 MPH.
- Updates specific hauling requirements for cotton trailers to align with modern technological advancements.
HB 974, sponsored by Representative Jim Murphy and Senator Sandy Crawford, establishes provisions relating to insurance for certain uses of motor vehicles.
- Implements the National Association of Insurance Commissioners (NAIC) model language related to cyber security standards on insurance companies, aimed at protecting consumer data.
- Implements the National Council of Insurance Legislators model language related to peer-to-peer driving rental services.
For more information on the legislation and additional provisions signed into law, visit house.mo.gov and senate.mo.gov. Photos from the bill signing will be uploaded to Governor Kehoe’s Flickr page.

###

MIL OSI USA News –
July 3, 2025
MIL-OSI USA: Van Orden Urges Evers to Act Quickly to Align State Budget with Federal Healthcare Provisions

Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) sent a letter to Governor Tony Evers urging him to promptly sign the Wisconsin FY 2025-27 state budget into law. The state budget includes an increase to the state provider tax rate, which must be in effect prior to the signing of the One, Big, Beautiful Bill.

For nearly a decade, Wisconsin’s provider tax rate has not been updated from 1.7%. The One, Big, Beautiful Bill will allow non-Medicaid expansion states, like Wisconsin, with provider tax rates of up to 6% to remain untouched. In order for Wisconsin to fully capitalize on the Medicaid benefits in the bill, it is imperative the governor sign the state budget into law as soon as possible.

“I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025,” Rep. Van Orden stated in the letter.

The congressman continued, “Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.”

“I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.”

To read the full letter, click here or scroll below.

The Honorable Tony Evers

Governor of Wisconsin

115 East Capitol

Madison, WI 53702

July 2, 2025

Dear Governor Evers,

I wanted to send you a follow up note from our conversation yesterday.

I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025.

This is a once in a lifetime opportunity and I implore you to put politics aside, and our neighbors first.

The One Big Beautiful Bill will have a profoundly beneficial impact on Wisconsinites from all socioeconomic backgrounds by ensuring that Badger Care, in its current form and scope, remains solvent into the future and bolstering our rural healthcare systems.

Wisconsin will immediately receive a $500,000,000 plus up for rural healthcare infrastructure, and an additional billion dollars annually for healthcare in our great state.

Additionally, this bill protects SNAP for those most in need, prevents a 25% tax hike on Wisconsin families, makes the Small Business Deduction permanent and increases it to 23%, and removes the Death Tax so our farmers can pass their land onto the next generation.

Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.

I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.

Forward!

All the best,

Derrick Van Orden

Member of Congress

###

MIL OSI USA News –

July 3, 2025
MIL-OSI USA: Van Orden Urges Evers to Act Quickly to Align State Budget with Federal Healthcare Provisions

Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) sent a letter to Governor Tony Evers urging him to promptly sign the Wisconsin FY 2025-27 state budget into law. The state budget includes an increase to the state provider tax rate, which must be in effect prior to the signing of the One, Big, Beautiful Bill.

For nearly a decade, Wisconsin’s provider tax rate has not been updated from 1.7%. The One, Big, Beautiful Bill will allow non-Medicaid expansion states, like Wisconsin, with provider tax rates of up to 6% to remain untouched. In order for Wisconsin to fully capitalize on the Medicaid benefits in the bill, it is imperative the governor sign the state budget into law as soon as possible.

“I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025,” Rep. Van Orden stated in the letter.

The congressman continued, “Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.”

“I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.”

To read the full letter, click here or scroll below.

The Honorable Tony Evers

Governor of Wisconsin

115 East Capitol

Madison, WI 53702

July 2, 2025

Dear Governor Evers,

I wanted to send you a follow up note from our conversation yesterday.

I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025.

This is a once in a lifetime opportunity and I implore you to put politics aside, and our neighbors first.

The One Big Beautiful Bill will have a profoundly beneficial impact on Wisconsinites from all socioeconomic backgrounds by ensuring that Badger Care, in its current form and scope, remains solvent into the future and bolstering our rural healthcare systems.

Wisconsin will immediately receive a $500,000,000 plus up for rural healthcare infrastructure, and an additional billion dollars annually for healthcare in our great state.

Additionally, this bill protects SNAP for those most in need, prevents a 25% tax hike on Wisconsin families, makes the Small Business Deduction permanent and increases it to 23%, and removes the Death Tax so our farmers can pass their land onto the next generation.

Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.

I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.

Forward!

All the best,

Derrick Van Orden

Member of Congress

###

MIL OSI USA News –

July 3, 2025

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