NewzIntel.com

Category: Business

  • MIL-OSI New Zealand: Soil conservation strengthens future for hill country farms

    Source: Environment Canterbury Regional Council

    After the Kaikōura earthquakes in November 2016, we applied for Ministry for Primary Industries (MPI) funding to help set up the SCAR project.

    In 2019, $4.1 million was granted for the initial four years, following the immediate clean-up work from the Post Quake-Farming project, which was led by Beef and Lamb New Zealand and MPI.

    Now, with another $2 million of funding granted, the SCAR team continues to work with MPI to build meaningful relationships with farmers and ultimately improve the health of our environment.

    North Canterbury SCAR programme successes

    Building trust in North Canterbury

    Senior land management and biodiversity advisor, Sam Thompson, said that initially, there was a lot of distrust and a lack of confidence in us from the North Canterbury community.

    “Gates were being shut, and a strong movement around banning access.”

    But the SCAR programme had been a leading engagement tool to start conversations in the community with the support to follow.

    “The project has dramatically improved the community’s confidence in us to help find solutions rather than setting regulations and telling them what not to do,” Sam said.

    As well as building positive relationships, we’ve provided landowners with access to environmental experts like ecologists, biodiversity advisors and consent advisors.

    “Gates have been opened both ways,” Sam said.

    Landowners appreciate the simplicity of the process to apply for funding from SCAR.

    Strong endorsements

    Andrew Arps, North Canterbury water and land team leader:

    Andrew said the SCAR programme had been a game changer for building trust and achieving results despite wider challenges.

    “The combination of a clear approach, the right team, and consistent follow-through has opened farm gates and opened minds, leading to new opportunities and genuine partnerships with landowners.”

    Louise Askin, MPI senior adviser for the Hill Country Erosion Programme:

    Louise said they were pleased with how we had grown the SCAR project over the past six years.

    “The Council’s strong advisory support and financial assistance are helping North Canterbury farmers address the unique challenges in protecting their farms’ most vulnerable land.” 

    MIL OSI New Zealand News –

  • MIL-OSI: Bigbank AS Results for May 2025

    Source: GlobeNewswire (MIL-OSI)

    May was a stable month for Bigbank – both the loan and deposit portfolios grew at a steady pace, and profitability remained at a solid level.

    The loan portfolio increased by a total of 43 million euros in May. The largest contributions came from business loans and home loans, which grew by 22 million and 15 million euros, respectively. The consumer loan portfolio grew by 6 million euros.

    The deposit portfolio grew by a total of 26 million euros in May. In a declining interest rate environment, the savings deposit product became more attractive to customers, with its portfolio increasing by 18 million euros during the month. The term deposit portfolio also returned to growth, increasing by 8 million euros.

    It is encouraging that despite falling interest rates, Bigbank has increased its net interest income during the first five months of 2025. The strong growth of the loan portfolio, along with maintaining the deposit portfolio at an optimal volume and pricing level, has offset the decline in interest income caused by the drop in Euribor and the upward pressure on interest expenses resulting from the growth of the deposit portfolio. As of the end of May, net interest income for 2025 exceeded the result for the same period in 2024 by 1 million euros.

    A positive development was the continued decline in net allowances for expected credit losses and provision expenses compared to 2024. In May, the expense amounted to 0.9 million euros, bringing the total for the five-month period to 6.7 million euros – 4.4 million euros, or 40%, less than in the same period last year. This improvement was primarily driven by better repayment behaviour in the consumer loan segment across all three Baltic countries.

    Net profit for May was 3.4 million euros, representing a strong result. In addition to the increase in net interest income and the decline in net expected credit losses, net fee and commission income rose by 0.5 million euros over the five-month period, while administrative expenses decreased by 0.4 million euros.

    Behind the bank’s growth and profitability is a strong team, which had grown to 600 employees by the end of May. The expansion of the team, combined with salary increases, led to a 2.2 million euro rise in personnel expenses over the five-month period.

    A negative development was the 1.3 million euro increase in income tax expenses over the same period, mainly due to higher income tax rates introduced in Estonia and Lithuania at the beginning of 2025.

    Bigbank’s key financial indicators for May 2025:

    • Customer deposits and loans received increased by 357 million euros over the year, reaching 2.57 billion euros (+16%).
    • Loans to customers grew by 564 million euros year-on-year, reaching 2.41 billion euros (+31%).
    • Net interest income totalled 8.8 million euros in May; the five-month total reached 42.8 million euros. Compared to the same period last year, net interest income increased by 1.0 million euros (+2%).
    • Net allowance for expected credit losses and provision expenses totalled 6.7 million euros in the first five months of the year, down 4.4 million euros or 40% year-on-year.
    • Net profit in May was 3.4 million euros. Cumulative profit for the first five months amounted to 16.3 million euros, an increase of 2.9 million euros or 22% compared to the same period in 2024.
    • Return on equity in May was 14.7%.
    Income statement, in thousands of euros May 2025 YTD25 YTD24 Difference YoY
    Total net operating income, incl. 9,480 47,716 45,983 1,733 +4%
    Net interest income 8,827 42,785 41,747 1,038 +2%
    Net fee and commission income 820 4,197 3,652 544 +15%
    Total expenses, incl. -4,377 -20,862 -18,922 -1,940 +10%
    Salaries and associated charges -2,749 -12,742 -10,542 -2,199 +21%
    Administrative expenses -919 -4,569 -4,938 369 -7%
    Profit before loss allowances 5,103 26,853 27,060 -207 -1%
    Net allowance for expected credit losses and provision expenses -866 -6,679 -11,076 4,397 -40%
    Income tax expense -844 -3,882 -2,615 -1,267 +48%
    Profit for the period from continuing operations 3,392 16,292 13,369 2,923 +22%
    Profit or loss before tax from discounted operations 0 0 29 -29  
    Profit for the period 3,392 16,292 13,398 2,894 +22%
               
               
    Business volumes, in thousands of euros May 2025 YTD25 YTD24 Difference YoY
    Customer deposits and loans received 2,574,153 2,574,153 2,216,907 357,246 +16%
    Loans to customers 2,413,543 2,413,543 1,849,189 564,354 +31%
               
    Key figures May 2025 YTD25 YTD24 Difference YoY
    ROE 14.7% 14.3% 13.0% +1.3pp  
    Cost / income ratio (C/I) 46.2% 43.7% 41.2% +2.6pp  
    Net promoter score (NPS) 55 58 58 +0  

    Compared to the financial results published for May 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 1.1 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure rather than on a net basis. This correction does not impact the net profit for May 2024.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 May 2025, the bank’s total assets amounted to 3.0 billion euros, with equity of 278 million euros. Operating in nine countries, the bank serves more than 172,000 active customers and employs 600 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Telephone: +372 5393 0833
    Email: argo.kiltsmann@bigbank.ee
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI: Codeproof Technologies Revolutionizes Device Management with Zero-Touch Enrollment for Android and iOS

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., June 12, 2025 (GLOBE NEWSWIRE) — Codeproof Technologies Inc., a leading provider of modern Unified Endpoint Management (UEM) and cybersecurity solutions for small to mid-size businesses (SMBs) across the U.S. and Canada, today announced Zero-Touch Device Enrollment for its Codeproof Cyber Device Manager MDM. The new feature enables seamless, automated onboarding of Android (via Zero-Touch Enrollment) and iOS (via Apple Business Manager) devices—eliminating manual setup, QR code scanning, or technical expertise. By simply uploading IMEI or serial numbers, SMB IT admins can now deploy company devices effortlessly, reducing downtime and complexity for teams with limited technical resources.

    With Zero-Touch Enrollment, IT administrators can now:

    • Automate Device Onboarding: Enroll devices in bulk by uploading IMEIs (via Google’s Android Zero-Touch Portal) or serial numbers (via Apple Business Manager).
    • Eliminate QR Code Hassles: MDM configurations are pushed directly to devices, removing dependency on physical scans.
    • Prevent Data Loss with Factory Reset Protection (FRP): Even after a factory reset, devices automatically re-enroll in MDM, ensuring corporate data security and continuous GPS tracking.
    • Centralize Management: The Codeproof Admin Console syncs with zero-touch portals, allowing real-time policy enforcement and configuration updates.

    “With MDM software deployment via IMEI or serial numbers, IT teams can remotely secure and manage work phones—zero physical handling required,” said Satish Shetty, CEO of Codeproof Technologies. “As an official T-Mobile reseller, we enable businesses to provision devices straight out of the box, eliminating setup delays while ensuring instant security compliance.”

    Why Zero-Touch Enrollment Matters

    For enterprises, schools, and government agencies managing large fleets of devices, manual enrollment is time-consuming and error-prone. Codeproof’s Zero-Touch solution ensures:
    ✔ Faster Deployment – Set up hundreds of devices in minutes.
    ✔ Stronger Security – Prevents unauthorized access with enforced MDM policies.
    ✔ Lower IT Overhead – Reduces on-site IT intervention.

    About Codeproof Technologies Inc.

    Codeproof Technologies Inc. is a leader in cybersecurity and mobile device management (MDM), delivering innovative SaaS solutions that help organizations secure and manage endpoints with ease. Through strategic partnerships with T-Mobile for Business, Verizon, and leading telecom providers, Codeproof ensures seamless integration and enterprise-grade security for businesses worldwide.

    Learn more or request a demo:
     https://codeproof.com
     sales@codeproof.com
    1.866.986.BYOD (2963)

    Media Contact:
    press@codeproof.com
    1.866.986.BYOD

    A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26088061-2773-4bff-ab19-ed5aba31a493. 

    The MIL Network –

  • MIL-Evening Report: How visionary Beach Boys songwriter Brian Wilson changed music – and my life

    Source: The Conversation (Au and NZ) – By Jadey O’Regan, Senior Lecturer in Contemporary Music, Sydney Conservatorium of Music, University of Sydney

    The Beach Boys in 1962 in Los Angeles, California. Brian Wilson is on the left. Michael Ochs Archives/Getty Images

    Brian Wilson, leader, songwriter and producer of the Beach Boys, has passed away at age 82.

    He leaves behind a legacy of beautiful, joyous, bittersweet and enduring music, crafted over a career spanning six decades.

    While this news isn’t unexpected – Wilson was diagnosed with dementia last year and entered a conservatorship after the loss of his wife, Melinda – his passing marks the end of a long and extraordinary chapter in musical history.

    A life of music

    Formed in the early 1960s in Hawthorne California, the Beach Boys were built on a foundation of family and community: brothers Brian, Dennis and Carl Wilson, their cousin Mike Love, and school friend Al Jardine.

    Growing up, the Wilson household was a turbulent place; their father, Murry Wilson, was strict and at times violent. Music was the one way in which the family could connect.

    During these early years Brian discovered the sounds that would shape his musical identity: Gershwin, doo wop groups, early rock and roll, and, a particular favourite, the vocal group the Four Freshmen, whose tight-harmony singing style Wilson studied meticulously.

    The Beach Boys in rehearsal in 1964; Brian Wilson sits at the piano .
    Photo by Michael Ochs Archives/Getty Images

    It was an unexpected combination of influences for a pop band. Even from the Beach Boys’ earliest recordings – the surf, the cars, the girls – the stirrings of the complexity and musical adventurousness Wilson is known for is audible. Listen to the unexpected structure of The Lonely Sea (1962), the complex chords of The Warmth of the Sun (1963), or the subtle modulation in Don’t Worry Baby (1964).

    These early innovations hinted at a growing creativity that would continue to evolve over the rest of the 1960s, and beyond.

    A story of resilience

    In later years, Brian Wilson often appeared publicly as a fragile figure. But what stands out most in his story is resilience.

    His ability to produce such an expansive and diverse catalogue of work while navigating difficult family relationships, intense record label pressures, misdiagnosed and mistreated mental health conditions, addiction and much more, is extraordinary. Wilson not only survived, but continued to create music.

    Brian Wilson on the piano and Al Jardine on guitar perform in Los Angeles in 2019.
    Scott Dudelson/Getty Images

    He eventually did something few Beach Boys’ fans would have imagined – he returned to the stage.

    Wilson’s unexpected return to public performance during the Pet Sounds and SMiLE tours in the early 2000s began a revival interest in the Beach Boys, and a critical reconsideration of their musical legacy. This continues with a consistent release of books, documentaries, movies and podcasts about Wilson and the legacy of the Beach Boys’ music.

    The focus of a thesis

    I grew up near Surfers Paradise on the Gold Coast in Queensland. Their early songs about an endless summer had a particular resonance to my hometown, even if, like Brian Wilson, I only admired the beach from afar.

    I chose to study the Beach Boys’ music for my PhD thesis and spent the next few years charting the course of their musical development from their early days in the garage to creating Pet Sounds just five years later.

    The Beach Boys perform onstage around 1963. Brian Wilson is on the left.
    Michael Ochs Archives/Getty Images

    I was fascinated by how a band could create such a groundbreaking volume of work and progress so quickly from the delightful, yet wobbly Surfin’ to the complex arrangements of God Only Knows.

    To understand their music, I spent years listening to Beach Boys’ tracking sessions, take after take, to hear how their songs were so cleverly and delicately put together.

    What struck me just as powerfully as the music itself was the sound of Brian Wilson’s voice in those recordings. Listening to Wilson leading hours of tracking sessions was to hear an artist at the top of their game – decisive, confident, funny, collaborative and deeply driven to make music that would express the magic he heard in his mind, and connect with an audience.

    One of the more unexpected discoveries in my analysis of the Beach Boys’ music came from their lyrics. Using a word frequency tool to examine all 117 songs in my study, I found that the most common word was “now”.

    The Beach Boys pose for a portrait around1964. Brian Wilson stands at the back.
    Michael Ochs Archives/Getty Images

    In many cases, it appears in a conversational sense – “Well, she got her Daddy’s car, and she cruised through the hamburger stand now” – but on a broader level, it perfectly encapsulates what Brian Wilson’s music offered so many listeners.

    He created an endless present: a world where the sun could always be shining, where you could feel young forever, and you could visit that world any time you needed to.

    Jadey O’Regan with Brian Wilson, Enmore Theatre, Sydney 2010.
    Jadey O’Regan

    In 2010, I had the remarkable experience of meeting Brian Wilson in his dressing room before his performance at the Enmore Theatre in Sydney. He was funny and kind. He sat at a small keyboard, taught me a harmony and for a moment, we sang Love and Mercy together.

    It was one of the most magical moments of my life. It is also one of Wilson’s most enduring sentiments: “love and mercy, that’s what we need tonight”.

    Farewell and thank you, Brian. Surf’s up.

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

    – ref. How visionary Beach Boys songwriter Brian Wilson changed music – and my life – https://theconversation.com/how-visionary-beach-boys-songwriter-brian-wilson-changed-music-and-my-life-258794

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: How visionary Beach Boys songwriter Brian Wilson changed music – and my life

    Source: The Conversation – Global Perspectives – By Jadey O’Regan, Senior Lecturer in Contemporary Music, Sydney Conservatorium of Music, University of Sydney

    The Beach Boys in 1962 in Los Angeles, California. Brian Wilson is on the left. Michael Ochs Archives/Getty Images

    Brian Wilson, leader, songwriter and producer of the Beach Boys, has passed away at age 82.

    He leaves behind a legacy of beautiful, joyous, bittersweet and enduring music, crafted over a career spanning six decades.

    While this news isn’t unexpected – Wilson was diagnosed with dementia last year and entered a conservatorship after the loss of his wife, Melinda – his passing marks the end of a long and extraordinary chapter in musical history.

    A life of music

    Formed in the early 1960s in Hawthorne California, the Beach Boys were built on a foundation of family and community: brothers Brian, Dennis and Carl Wilson, their cousin Mike Love, and school friend Al Jardine.

    Growing up, the Wilson household was a turbulent place; their father, Murry Wilson, was strict and at times violent. Music was the one way in which the family could connect.

    During these early years Brian discovered the sounds that would shape his musical identity: Gershwin, doo wop groups, early rock and roll, and, a particular favourite, the vocal group the Four Freshmen, whose tight-harmony singing style Wilson studied meticulously.

    The Beach Boys in rehearsal in 1964; Brian Wilson sits at the piano .
    Photo by Michael Ochs Archives/Getty Images

    It was an unexpected combination of influences for a pop band. Even from the Beach Boys’ earliest recordings – the surf, the cars, the girls – the stirrings of the complexity and musical adventurousness Wilson is known for is audible. Listen to the unexpected structure of The Lonely Sea (1962), the complex chords of The Warmth of the Sun (1963), or the subtle modulation in Don’t Worry Baby (1964).

    These early innovations hinted at a growing creativity that would continue to evolve over the rest of the 1960s, and beyond.

    A story of resilience

    In later years, Brian Wilson often appeared publicly as a fragile figure. But what stands out most in his story is resilience.

    His ability to produce such an expansive and diverse catalogue of work while navigating difficult family relationships, intense record label pressures, misdiagnosed and mistreated mental health conditions, addiction and much more, is extraordinary. Wilson not only survived, but continued to create music.

    Brian Wilson on the piano and Al Jardine on guitar perform in Los Angeles in 2019.
    Scott Dudelson/Getty Images

    He eventually did something few Beach Boys’ fans would have imagined – he returned to the stage.

    Wilson’s unexpected return to public performance during the Pet Sounds and SMiLE tours in the early 2000s began a revival interest in the Beach Boys, and a critical reconsideration of their musical legacy. This continues with a consistent release of books, documentaries, movies and podcasts about Wilson and the legacy of the Beach Boys’ music.

    The focus of a thesis

    I grew up near Surfers Paradise on the Gold Coast in Queensland. Their early songs about an endless summer had a particular resonance to my hometown, even if, like Brian Wilson, I only admired the beach from afar.

    I chose to study the Beach Boys’ music for my PhD thesis and spent the next few years charting the course of their musical development from their early days in the garage to creating Pet Sounds just five years later.

    The Beach Boys perform onstage around 1963. Brian Wilson is on the left.
    Michael Ochs Archives/Getty Images

    I was fascinated by how a band could create such a groundbreaking volume of work and progress so quickly from the delightful, yet wobbly Surfin’ to the complex arrangements of God Only Knows.

    To understand their music, I spent years listening to Beach Boys’ tracking sessions, take after take, to hear how their songs were so cleverly and delicately put together.

    What struck me just as powerfully as the music itself was the sound of Brian Wilson’s voice in those recordings. Listening to Wilson leading hours of tracking sessions was to hear an artist at the top of their game – decisive, confident, funny, collaborative and deeply driven to make music that would express the magic he heard in his mind, and connect with an audience.

    One of the more unexpected discoveries in my analysis of the Beach Boys’ music came from their lyrics. Using a word frequency tool to examine all 117 songs in my study, I found that the most common word was “now”.

    The Beach Boys pose for a portrait around1964. Brian Wilson stands at the back.
    Michael Ochs Archives/Getty Images

    In many cases, it appears in a conversational sense – “Well, she got her Daddy’s car, and she cruised through the hamburger stand now” – but on a broader level, it perfectly encapsulates what Brian Wilson’s music offered so many listeners.

    He created an endless present: a world where the sun could always be shining, where you could feel young forever, and you could visit that world any time you needed to.

    Jadey O’Regan with Brian Wilson, Enmore Theatre, Sydney 2010.
    Jadey O’Regan

    In 2010, I had the remarkable experience of meeting Brian Wilson in his dressing room before his performance at the Enmore Theatre in Sydney. He was funny and kind. He sat at a small keyboard, taught me a harmony and for a moment, we sang Love and Mercy together.

    It was one of the most magical moments of my life. It is also one of Wilson’s most enduring sentiments: “love and mercy, that’s what we need tonight”.

    Farewell and thank you, Brian. Surf’s up.

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

    – ref. How visionary Beach Boys songwriter Brian Wilson changed music – and my life – https://theconversation.com/how-visionary-beach-boys-songwriter-brian-wilson-changed-music-and-my-life-258794

    MIL OSI – Global Reports –

  • Orange alert issued for TN’s Ghat region, Nilgiris braces for extremely heavy rain

    Source: Government of India

    Source: Government of India (4)

    The Regional Meteorological Centre (RMC) has issued an orange alert for several ghat districts in Tamil Nadu, forecasting intense rainfall between June 13 and 16.

    The Nilgiris, Coimbatore, and adjoining hilly regions are expected to receive heavy to very heavy rain, with isolated areas in the Nilgiris likely to witness extremely heavy downpours exceeding 204.4 mm on June 14 and 15.

    Authorities have urged residents in these districts to remain alert and take necessary precautions against potential disruptions such as landslides, waterlogging, and reduced visibility.

    According to the MeT department, an orange alert in weather forecasts signifies a potentially disruptive weather situation, often due to heavy rainfall, and requires people to be prepared for sudden changes in conditions.

    Gusty winds ranging from 30-40 kmph are also expected to accompany the rains, heightening the risk in vulnerable zones.

    The seven-day weather outlook suggests a gradual intensification of rainfall across the state.

    From Tuesday, parts of North Tamil Nadu — including Cuddalore and Ariyalur — will begin to see an uptick in precipitation.

    The ghat areas of Coimbatore and the Nilgiris will experience increased rainfall from June 12, leading up to the peak on June 14.

    Southern districts such as Theni, Tenkasi, and Kanniyakumari are also likely to experience heavy rainfall throughout the week.

    The meteorological department has advised district administrations to remain prepared with disaster response teams and emergency protocols in place.

    In Chennai and its surrounding areas, the onset of rainfall over the past 24 hours has brought significant relief from the oppressive summer heat. Other parts of the city also experienced moderate showers during the day. By 7.30 p.m. on Wednesday, the Nungambakkam weather station recorded 15.6 mm of rain, offering some respite as daytime temperatures had consistently hovered around 38 degrees Celsius in recent days.

    The local forecast for Chennai over the next two days predicts partly cloudy skies with intermittent light to moderate showers, continuing the much-needed relief from the recent heatwave conditions.

    (IANS)

  • MIL-OSI New Zealand: Reserve Bank – Statement from RBNZ Chair Neil Quigley about OIAs on Adrian Orr’s resignation as Governor

    Source: Reserve Bank of New Zealand

    12 June 2025 – “RBNZ was late in producing a response to some of the OIAs we received on Adrian Orr’s resignation. I regret that this delay occurred,” Reserve Bank of New Zealand – Te Pūtea Matua Chair Neil Quigley says.

    “The circumstances and the volume of information associated with the OIAs on Adrian Orr’s resignation were complex, and we needed to be sure that our consideration of relevant information was comprehensive.

    “As well as our obligations under the Official Information Act, we needed to take into careful consideration the former Governor’s exit agreement and privacy law. For this reason, we extended consultation on the information and our response, including review by senior external counsel,” he said.

    “On 5 March I was limited in what I could say about the former Governor’s resignation both by the terms of his exit agreement and the fact that we were still working through finalisation of the detail of the next Five-Year Funding Agreement (FYFA).

    “We were conscious of the need to explain to staff of the RBNZ the potential implications for staffing levels of a lower level of funding and needed time to consider the details of that.

    “We are taking into account the feedback that we have received on our management of these OIA requests and looking carefully at how we can improve our response times in the future,” Mr Quigley said.

    More information: 
    OIA requests for information about the resignation of Adrian Orr – Reserve Bank of New Zealand – Te Pūtea Matua

    MIL OSI New Zealand News –

  • MIL-OSI Security: Former CEO of Guam Helicopter Company Sentenced to 405 Months in Federal Prison for Criminal Aviation Violations

    Source: Office of United States Attorneys

    Hagåtña, Guam – SHAWN N. ANDERSON, United States Attorney for the Districts of Guam and the Northern Mariana Islands, announced that John D. Walker, age 60, was sentenced by Chief Judge Frances Tydingco-Gatewood in the District Court of Guam to 405 months imprisonment.  On September 9, 2022, a jury returned guilty verdicts against Walker and his company, Hansen Helicopters, Inc., on 110 counts involving conspiracy to defraud the Federal Aviation Administration (“FAA”) and National Transportation Safety Board (“NTSB”), aircraft parts fraud that caused serious bodily injury and death, employing a mechanic without a mechanic’s certificate, registration violations involving helicopters, conspiracy to commit wire fraud, wire fraud, and money laundering.  Walker was also ordered to pay a $250,000 fine, and a $9,900 special assessment fee.  Walker forfeited $58,407,513, which represented the proceeds of aircraft parts fraud and wire fraud, in addition to $11,770,000, which represented the amount of money involved in the money laundering offenses.

    Hansen Helicopters, Inc., was found guilty of conspiracy to defraud the FAA and NTSB, in addition to aircraft parts fraud that caused serious bodily injury and death.  Hansen received a five-year term of probation, a $4,900,000 fine, and a $2,000 special assessment fee.

    Walker subverted aviation laws and regulations, enforced by the FAA and NTSB, which protect public health and safety.  Walker used at least 48 shell companies, most incorporated internationally, to operate an illicit helicopter/pilot/mechanic leasing business in Guam. By concealing that his aircraft were unregistered or illegally registered, unairworthy, and maintained and operated by uncertificated airmen, Walker entered fraudulent lease agreements with numerous tuna boat companies.  He earned over $400 million dollars through his scheme. He concealed his crimes by forging documents, counterfeiting aircraft parts, and bribing aviation officials.

    “The defendants built helicopters from an assortment of discarded frames and counterfeit parts,” stated United States Attorney Anderson. “They blatantly disregarded aviation laws to build and operate aircraft that should never have left the ground.  Fishing companies throughout the Pacific region relied on these aircraft for spotting tuna.  Unfortunately, the defendants’ quest for money resulted in the deaths of many pilots.  This was a difficult case to investigate and prosecute, but well worth federal resources. I commend our law enforcement partners on bringing these defendants to justice.”

    “Unchecked greed and flagrant disregard for aviation safety create a recipe for disaster with catastrophic results,” said Special Agent in Charge Cory LeGars of the Department of Transportation Office of Inspector General, Western Region. “This sentencing epitomizes the criminal justice system’s commitment to holding individuals and companies accountable for egregious illicit conduct. I commend the relentless efforts of our special agents and the outstanding collaboration between our law enforcement, prosecutorial, and regulatory partners, whose collective efforts brought this complex and hazardous fraud scheme to justice.”

    “How many times have we heard, ’It’s just money…’ when it comes to financial crime?” asked Special Agent in Charge Adam Jobes, IRS Criminal Investigation (IRS-CI), Seattle Field Office. “This case shows that all too often, innocent people suffer catastrophic harm because of someone else’s greed. Financial crime is not victimless, and IRS-CI will continue to protect our communities from people like Mr. Walker who put their greed above all else.”

    “Over several years, Mr. Walker engaged in a multi-layered scheme to bribe public officials and defraud the government, significantly jeopardizing public safety in the process,” said FBI Honolulu Special Agent in Charge David Porter. “The FBI remains steadfast and persistent in our efforts to investigate these schemes and bring bad actors to justice.”

    This investigation was conducted by the U.S. Department of Transportation, Federal Aviation Administration, Internal Revenue Service Criminal Investigation, Federal Bureau of Investigation, and in partnership with the Customs and Quarantine Agency of Guam.

    Assistant United States Attorney Stephen F. Leon Guerrero, Special Assistant United States Attorney Marie L. Miller, and former Assistant U.S. Attorney Samantha R. Miller prosecuted this case.

    MIL Security OSI –

  • MIL-OSI Economics: ASEAN TVET Council advances inclusive skills development for rural and regional communities

    Source: ASEAN

    MELAKA, 12 June 2025 -The 4th Regional Policy Dialogue of ASEAN TVET Council on “TVET for Rural and Regional Advancement” was successfully convened on 11–12 June 2025 in Melaka, Malaysia. The Dialogue brought together approximately 220 participants both onsite and online from ASEAN Member States and partner organisations, representing ministries of labour, education, and economic planning, TVET institutions, industry leaders, and international development partners.
     
    Hosted by the Ministry of Rural and Regional Development of Malaysia with the support of the ASEAN Secretariat, Aus4ASEAN Digital Transformation and Future Skills Initiative (funded by the Government of Australia), and RECOTwin (funded by the Government of Germany), and the Dialogue provided a platform for participants to exchange strategies and good practices on how TVET can serve as a driver of inclusive, sustainable growth in rural and regional communities across ASEAN.
     
    Key discussions focused on expanding access to TVET, fostering technopreneurship, promoting green and digital skills, and aligning curricula with the demands of high-growth, high-value sectors. The Dialogue concluded with actionable insights and recommendations to guide ASEAN’s collective efforts toward enhancing employability, productivity, and socio-economic resilience through skills development.
     
    During the Dialogue, the Study Report on the Promotion of Business Engagement Models for Upskilling and Reskilling of the ASEAN Workforce was launched on 12 June 2025. Coordinated by the ASEAN Secretariat under the guidance of ASEAN Senior Labour Officials Meeting (SLOM) and with the support of the Aus4ASEAN Digital Transformation and Future Skills Initiative, the Study explores how ASEAN businesses are adapting to rapid changes in technology, Industry 4.0, and the green economy by investing in workforce upskilling and reskilling. It emphasises the importance of inclusive training and stronger engagement between governments, businesses, and TVET institutes. Find out more about the Study here.
     
    ###

    The post ASEAN TVET Council advances inclusive skills development for rural and regional communities appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI China: Chinese, African foreign ministers pledge stronger ties

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

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with South African Minister of International Relations and Cooperation Ronald Lamola in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]

    CHANGSHA, June 11 — Chinese Foreign Minister Wang Yi on Wednesday met respectively with some African counterparts who came to China for the Ministerial Meeting of Coordinators on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC) in Changsha, capital of central China’s Hunan Province.

    These African foreign ministers include the Republic of the Congo’s Jean-Claude Gakosso, South Africa’s Ronald Lamola, Djibouti’s Abdoulkader Houssein Omar, Ghana’s Samuel Okudzeto Ablakwa, the Democratic Republic of the Congo’s Therese Kayikwamba Wagner, Niger’s Bakary Yaou Sangare, Guinea-Bissau’s Carlos Pinto Pereira, Nigeria’s Yusuf Maitama Tuggar, Burkina Faso’s Karamoko Jean-Marie Traore, and Ethiopia’s Gedion Timothewos.

    When meeting with Gakosso, Wang, a member of the Political Bureau of the Communist Party of China Central Committee, said China is willing to work with the Republic of the Congo to safeguard each other’s core interests and consolidate political mutual trust, promote the upgrading of economic and trade cooperation, and strengthen exchanges on state governance.

    Gakosso said the Belt and Road Initiative (BRI) brings hope for Africa to break free from the vicious cycle of poverty and backwardness and achieve independent development, and the Republic of the Congo will continue to actively participate in the BRI and firmly abide by the one-China principle.

    When meeting with Lamola, Wang said China is willing to work with South Africa to consolidate political mutual trust, welcomes South Africa’s greater role on international and regional stages, supports South Africa’s fulfillment of duties under its Group of 20 presidency, and is ready to join hands with South Africa to safeguard common interests of the developing countries.

    Lamola said the FOCAC has yielded fruitful achievements and contributed to the development of African countries over the 25 years since its establishment. South Africa looks forward to strengthening cooperation with China in various fields, including economy and trade, energy, human resources training, and HIV/AIDS prevention and treatment.

    When meeting with Omar, Wang said China stands ready to work with Djibouti to fully implement the outcomes of the FOCAC Beijing Summit and the important common understandings reached by the two heads of state, noting that China will continue to support Africa in strengthening solidarity and pursuing self-reliance, and in resolving African issues in the African way.

    Omar said Djibouti highly values its strategic partnership with China, firmly supports multilateralism and opposes unilateralism, and will enhance coordination with China to jointly address challenges.

    When meeting with Ablakwa, Wang said China and Ghana established a strategic partnership last year, opening a new chapter in bilateral relations. China stands ready to work with Ghana to deepen practical cooperation across various fields, advance the cause of China-Africa friendship, and uphold multilateralism in opposition to unilateralism.

    Ablakwa said as China has become Ghana’s largest trading partner, Ghana looks forward to deepening cooperation with China in various fields, and will continue to adhere to the one-China principle and consolidate the strong partnership between the two countries.

    When meeting with Wagner, Wang called on both sides to implement the consensus reached by the two heads of state, deepen mutually beneficial cooperation, saying that China is willing to help the Democratic Republic of the Congo (DRC) in transforming its resource advantages into development advantages, and China’s super-large market will always be open to the DRC.

    Wagner said that the DRC firmly adheres to the one-China principle and is willing to deepen mutually beneficial and win-win cooperation with China, adding that the DRC actively supports the BRI and other global initiatives proposed by China.

    When meeting with Sangare, Wang said that China-Niger relations are part of South-South cooperation, and China is willing to carry forward the traditional friendship between the two countries and enhance mutual trust. Wang expressed the hope that Niger will safeguard the security and legitimate rights and interests of Chinese enterprises and citizens in Niger.

    Sangare said Niger firmly adheres to the one-China policy, regards cooperation with China as a priority, attaches great importance to security issues, and is willing to enhance mutual trust and maintain dialogue in the spirit of mutual respect.

    When meeting with Pereira, Wang said that Guinea-Bissau took reciprocal measures in the face of the U.S. tariff hikes, and the Global South should stand together, resist unilateralism and protectionism to safeguard international fairness and justice.

    Pereira thanked China for its long-term assistance to Guinea-Bissau, and Guinea-Bissau will continue to work with China to expand practical cooperation and achieve win-win results in the spirit of mutual support.

    When meeting with Tuggar, Wang said under the strategic guidance of the two heads of state, the relationship between China and Nigeria is increasingly of global importance, adding that China is willing to share development opportunities with Nigeria.

    Tuggar hailed the productive Nigeria-China relationship, expressing willingness to further deepen cooperation with China across various fields to advance their comprehensive strategic partnership.

    When meeting with Traore, Wang said facts have proven that the resumption of diplomatic ties between China and Burkina Faso fully serves the fundamental and long-term interests of Burkina Faso and its people. China is willing to strengthen mutually beneficial cooperation with Burkina Faso and encourages Chinese enterprises to invest and establish businesses there, Wang said, expressing the belief that Burkina Faso will ensure the safety of Chinese companies and personnel.

    Traore said Burkina Faso and China have elevated their relationship to a strategic partnership last year. Burkina Faso highly commends China for demonstrating leadership in supporting Africa’s development, thanks China for its support since the resumption of diplomatic ties, and is willing to deepen sincere and friendly cooperation with China, Traore said.

    When meeting with Timothewos, Wang said China and Ethiopia have worked together to achieve early results in implementing the outcomes of the FOCAC Beijing Summit, bringing more tangible benefits to the Ethiopian people. China is willing to strengthen strategic communication with Ethiopia, promote common development through mutually beneficial cooperation, and safeguard shared interests through solidarity and collaboration, he added.

    Timothewos said Ethiopia and China have achieved fruitful results in practical cooperation, setting a model for the Global South. He expressed gratitude for China’s firm support of Ethiopia’s core interests and valuable assistance to Africa’s development, and reiterated Ethiopia’s adherence to the one-China principle.

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Minister of Foreign Affairs of Djibouti Abdoulkader Houssein Omar in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Foreign Minister of Ghana Samuel Okudzeto Ablakwa in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Minister of Foreign Affairs of the Republic of the Congo Jean-Claude Gakosso in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Bissau-Guinean Minister of Foreign Affairs, International Cooperation and Communities Carlos Pinto Pereira in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Niger’s Foreign Minister Bakary Yaou Sangare in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Nigeria’s Foreign Minister Yusuf Maitama Tuggar in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Ethiopian Foreign Minister Gedion Timothewos in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Burkinabe Minister of Foreign Affairs Karamoko Jean-Marie Traore in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]
    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Foreign Minister of the Democratic Republic of the Congo (DRC) Therese Kayikwamba Wagner in Changsha, central China’s Hunan Province, June 11, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: From farm to plate, China steps up push to reduce food waste

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

    At a bustling restaurant in Tianjin’s Xiqing District, signs reading “Save Food” catch the eye. After lunch with her family, a woman surnamed Wang carefully packs up a half-eaten bowl of congee to take home.

    “I want my child to learn the value of food from an early age,” she said, tucking the container into her bag, a small act echoing a nationwide push to reduce food waste.

    From public awareness campaigns to industry overhauls, China is undergoing a green transformation in how it grows, prepares and consumes food.

    Restaurant manager Guo Ke said the nationwide “Clear Your Plate” campaign has led to tangible change in diners’ behavior, while the food service industry is also improving its practices.

    “We follow a purchase-on-demand model to avoid overstocking ingredients,” Guo said. “Scientific management in storage and food preparation helps us make the most of every item.”

    The restaurant also offers half-size and small portions to encourage customers to order more reasonably, he added.

    At the policy level, China has passed a landmark anti-food waste law, forming a robust legal framework to tackle waste from farm to chopsticks. Under the law, catering service providers are required to remind customers to avoid excessive ordering and can charge a disposal fee for large amounts of leftovers.

    Additionally, a food security law, implemented in 2023, includes provisions to promote grain conservation, reinforcing the legal foundation for nationwide efforts against waste.

    Authorities have also introduced national standards, such as the credit rating evaluation standard for the restaurant industry and the general principles for food waste reduction management in catering services.

    “China now boasts one of the world’s most comprehensive anti-food waste systems,” said Wu Bo, associate professor at Tianjin University of Finance and Economics.

    Under policy guidance, cities across the country are embracing the shift.

    In Beijing, “food banks” have been piloted to give a second life to near-expiry groceries by redistributing them to communities in need. Meanwhile, in Shanghai, the “Clear Your Plate” campaign has taken root in the restaurant industry, helping slash kitchen waste by nearly 50 percent.

    By the end of last year, Shanghai had certified 2,950 “green restaurants,” where food safety, low-carbon practices and ethical business standards are taken into consideration.

    Beyond the “Clear Your Plate” campaign, efforts to curb food waste now stretch across the entire supply chain, from smarter farming to greener logistics.

    At a modern agricultural farm in Tianjin, drones and transplanters work in sync with satellite data to manage rice fields more efficiently, where less grain is wasted during the production.

    “A six-person team can manage over 1,300 hectares of rice fields, with yields improving year after year thanks to tailored, eco-friendly solutions,” said Dai Renqiang, farm manager.

    Yet, on a macro level, challenges still remain. Data from the Institute of Geographic Sciences and Natural Resources Research, Chinese Academy of Sciences, shows 8 percent of China’s grain is lost in the process from production and harvesting to storage, transport and consumption.

    To address such issues, China launched a national action plan in late 2024 to build a long-term mechanism for food saving. The plan aims to keep grain production, storage, transport and processing loss rates below the international average by 2027.

    “Going beyond simple conservation, China’s green dining transformation reflects a deeper commitment to sustainability — and a vision for safeguarding the future of food and society,” Wu Bo believed. 

    MIL OSI China News –

  • U.S. to deploy 4,000 National Guard troops, 700 Marines to Los Angeles amid ongoing protests

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump’s administration has said it is going to deploy 4,000 National Guard troops and 700 Marines to Los Angeles to help protect federal property and personnel during the ongoing protests in the city.

    Here is everything we know about the U.S. troops that are being deployed to Los Angeles:

    WHAT ARE THE DIFFERENT TYPES OF TROOPS SENT TO LA?

    National guard troops usually belong to individual states and personnel in many cases are trained to help with emergencies that those states have to deal with, such as natural disasters.

    Since they are the reserve force of the U.S. military, National Guard troops are usually part time, meaning that they have other jobs as well.

    U.S. Marines on the other hand are active duty troops – it is a full time job.

    Marines are trained for conflicts around the world – from the Middle East to Africa – and are used for rapid global deployments in case of emergencies, such as threats to U.S. embassies.

    All those troops will come under a task force, known as Task Force 51.

    HOW CAN TROOPS LEGALLY BE DEPLOYED WITHIN THE UNITED STATES?

    Trump cited Title 10 of the U.S. Code, a federal law that outlines the role of the U.S. Armed Forces, in his June 7 order to call members of the California National Guard into federal service.

    A provision of Title 10 – Section 12406- allows the president to deploy National Guard units into federal service if the U.S. is invaded, there is a “rebellion or danger of rebellion” or the president is “unable with the regular forces to execute the laws of the United States.”

    The president also has the authority to deploy active duty troops, like the Marines, within the United States in limited cases.

    WHERE ARE THE TROOPS COMING FROM?

    Many of the 4,000 National Guard troops are coming from the California National Guard. So far, 2,100 soldiers from the 79th Infantry Brigade Combat Team, a unit of the California National Guard, are on the ground.

    The Marines being deployed are from the 2nd Battalion, 7th Marines, 1st Marine Division. They are based out of Twentynine Palms, close to Los Angeles.

    WHAT CAN TROOPS DO AND WHAT CAN THEY NOT DO?

    Both National Guard troops and Marines will be carrying out the same tasks, according to U.S. Army Major General Scott Sherman, who is commanding the troops.

    They are tasked with protecting federal property and federal personnel. This means that they will accompany ICE agents on raids, officials have said.

    The troops are authorized to detain people who pose a threat to federal personnel or property, but only until police can arrest them. Military officials are not allowed to carry out arrests themselves.

    The Posse Comitatus Act, generally forbids the U.S. military, including the National Guard, from taking part in civilian law enforcement.

    Trump could take a more far-reaching step by invoking the Insurrection Act, which would allow troops to directly participate in civilian law enforcement.

    WHAT TRAINING WILL THE TROOPS RECEIVE?

    Troops receive varying levels of training in dealing with riots and crowd control.

    Since National Guard troops are used domestically in many cases, they receive extensive training when it comes to crowd control and civil unrest.

    While Marines may receive a basic level of crowd control training, it is not their expertise in domestic situations. The 700 Marines will receive two days of training focused on civil disturbance, crowd control and protection of facilities, before they are deployed to the streets of Los Angeles.

    The Marines will also have added “legal and law enforcement expertise,” the military said.

    WHAT WILL TROOPS BE ARMED WITH?

    National Guard troops have been seen carrying shields, batons and rifles, along with regular protective equipment.

    The Marines will also be armed with riot shields and batons, and Sherman said they will not have ammunition in their rifles, but they will carry it.

    (Reuters)

  • MIL-OSI Economics: Panasonic develops a cooling water circulation pump for data centers – Promoting the strategic enhancement of the pump business

    Source: Panasonic

    Headline: Panasonic develops a cooling water circulation pump for data centers – Promoting the strategic enhancement of the pump business

    Osaka, Japan, June 12, 2025 – Panasonic Corporation (https://www.panasonic.com/global/home.html) today announced that its Living Appliances and Solutions Company (Panasonic) has marked the 70th anniversary of its pump business. The company’s pump business, which began with home pumps (well pumps) that supply water to homes, has consistently contributed to the realization of comfortable and affluent lifestyles through built-in pumps for water heaters, heating appliances, and bathroom equipment. This time, Panasonic will enter the cooling pump market for data centers, aiming to expand its business areas and contribute to customers.
    In recent years, with the evolution of AI technology, the number of data centers has been increasing globally. In generative AI data centers, the heat generated per CPU or GPU chip is rapidly increasing due to advanced computational processes. Previously, air cooling using air conditioners and fans was the mainstream method. However, growing demand for more effective and efficient cooling has brought increased attention to liquid cooling, which has high cooling efficiency.
    Panasonic has developed a next-generation cooling water circulation pump specifically for data center cooling, integrating its proprietary technology and system design capabilities refined over 70 years of its pump business. This product is designed for integration into CDUs (Coolant Distribution Units), the core components of cooling systems, and offers high efficiency, a compact form, and long service life. It meets the cooling needs of next-generation infrastructure by simultaneously reducing environmental impact and ensuring stable operation.
    Starting with its entry into the data center market, Panasonic will contribute to cooling solutions for infrastructure-related heat countermeasures to expand its pump business, aiming for cumulative shipments of 100 million units by 2035. The company will continue to contribute to safe and comfortable lifestyles and industrial development through reliable technology, while earnestly responding to environmental changes and customer feedback.

    New product features

    1. High performance

    By fully utilizing advanced simulation technologies, such as magnetic field analysis, fluid dynamics analysis, and flow analysis, Panasonic has achieved a 75% improvement in pump performance (from 40 to 70 L/min) while maintaining the same size as conventional pumps. This product contributes to improved energy efficiency across entire data center systems and simplifies cooling system design.

    2. Compactness 

    A compact housing has been achieved by leveraging the company’s design expertise, honed through the development of built-in pumps for equipment. This feature enabled the circulation pump to be housed within CDUs that have limited space. The compact housing offers layout flexibility, significantly increasing the design freedom of CDUs.

    3. Long life

    The adoption of submersible sliding bearings and optimized structural design ensures long-term stable operation and reduces maintenance workload. This feature supports high reliability and cost optimization in data center operations.

    Panasonic pump business – 70 years of progress

    Panasonic’s pump business began with the launch of home pumps (well pumps) in 1955.
    In 1980, the company began developing and selling built-in AC pumps for water heaters, contributing to enhanced product value (reheating function) provided by them. Since then, the company has been developing products that simultaneously deliver energy efficiency and environmental friendliness, including built-in DC pumps for equipment. In 2025, the pump business has marked its 70th anniversary, with cumulative shipments exceeding 53 million units.
    The range of appliances incorporating these pumps extends beyond the company’s own products. Manufacturers in Japan and abroad have also adopted Panasonic pumps in their combustion-type water heaters and heating appliances as well as air-to-water heat pumps. Additionally, the new pump has been adopted in cooling equipment for data centers in the current fiscal year. Panasonic pumps are distributed globally from its Hikone Factory in Shiga Prefecture through customers’ equipment, contributing to comfortable lifestyles around the world.

    Media Contact:

    Living Appliances and Solutions Company, Panasonic CorporationPublic Relations, Corporate Policy Department, Corporate Planning CenterEmail: las-pr@gg.jp.panasonic.com

    About Panasonic Corporation
    Panasonic Corporation offers products and services for a variety of living environments, ranging from homes to stores to offices and cities. There are five businesses at the core of Panasonic Corporation: Living Appliances and Solutions Company, Heating & Ventilation A/C Company, Cold Chain Solutions Company, Electric Works Company and China and Northeast Asia Company. The operating company reported consolidated net sales of 3,584.2 billion yen for the year ended March 31, 2025. Panasonic Corporation is committed to fulfilling the mission of Life Tech & Ideas: For the wellbeing of people, society and the planet, and embraces the vision of becoming the best partner of your life with human-centric technology and innovation. Learn more about Panasonic: https://www.panasonic.com/global/about.html

    MIL OSI Economics –

  • Sensex, Nifty trade flat in early session amid sectoral weakness

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened on a flat note on Thursday as investors remained cautious ahead of key retail inflation data. Early trade witnessed selling pressure in the auto, IT, and PSU Bank sectors.

    As of 9:28 a.m., the Sensex was trading 69.22 points, or 0.08 per cent higher, at 82,584.36, while the Nifty rose 23.65 points, or 0.09 per cent, to 25,165.05.

    The Nifty Bank index was up 98.65 points, or 0.17 per cent, at 56,558.40. Meanwhile, the Nifty Midcap 100 was trading at 59,267.75, down 120.40 points or 0.20 per cent, and the Nifty Smallcap 100 stood at 18,772.35, having declined by 26.40 points or 0.14 per cent.

    According to analysts, although the Nifty closed higher in the previous session, it retreated from its intra-day high. Technically, the candle formed was a doji with a slightly extended upper shadow, following the ‘upside-gap two crows’ pattern. Analysts suggest that the bulls now have the responsibility to defend the 25,029 level in the near term.

    “If bears manage to push the index below the 24,987–25,029 zone, a test of the 24,800–24,863 range becomes highly probable,” said Akshay Chinchalkar, Head of Research at Axis Securities.

    Among Sensex constituents, Asian Paints, Sun Pharma, Bajaj Finserv, Bharti Airtel, Bajaj Finance, NTPC, and HDFC Bank emerged as the top gainers. In contrast, Infosys, Eternal, Tata Motors, Tech Mahindra, HCL Tech, Tata Steel, and IndusInd Bank were among the top losers.

    In Asian markets, Hong Kong, Bangkok, Jakarta, and Japan were trading in the red, while Seoul and China saw gains.

    In the previous trading session, the Dow Jones Industrial Average closed marginally lower at 42,865.77, down 1.10 points, or 0.00 per cent. The S&P 500 fell 16.57 points, or 0.27 per cent, to 6,022.24, while the Nasdaq dropped 99.11 points, or 0.50 per cent, to close at 19,615.88.

    Experts suggest the market’s recent flat trend is likely to persist in the near term due to a lack of clear positive triggers.

    “There are reports of a potential agreement between the US and China, but no official confirmation has come from the Chinese side,” noted analysts.

    “Additionally, U.S. President Donald Trump has announced plans to send letters to trade partners within the next two weeks, outlining universal tariffs. Market participants are waiting for more clarity, as the tariff crisis is far from resolved,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    On the institutional front, foreign institutional investors (FIIs) were net sellers, offloading equities worth ₹446.31 crore on June 11. Meanwhile, domestic institutional investors (DIIs) were net buyers, purchasing equities worth ₹1,584.87 crore.

    — IANS

  • MIL-Evening Report: What’s the potential effect of sanctions on Israeli ministers? Here’s what my research shows

    Source: The Conversation (Au and NZ) – By Anton Moiseienko, Senior Lecturer in Law, Australian National University

    Australia, Canada, New Zealand, Norway and the UK this week announced sanctions against two members of the Israeli cabinet: National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich.

    This is a momentous development. The governments concerned make it clear that they consider Ben-Gvir and Smotrich to be involved in “serious abuses of Palestinian human rights”, including “a serious abuse of the right of individuals not to be subjected to cruel, inhuman or degrading treatment or punishment”.

    This is an allegation rarely levelled against sitting ministers of a democratic state, predictably causing the Israeli government to protest.

    While diplomatic consequences play out, what are sanctions anyway, and what do they mean for Ben-Gvir and Smotrich?

    3 direct consequences

    “Sanctions” is a broad umbrella term. Whole countries can be sanctioned, but so can be individuals.

    Sanctions on individuals are imposed by means of a government placing them on its national sanctions list, such as Australia’s Consolidated List (which now features both Ben-Gvir and Smotrich).

    Three direct consequences flow from such a sanctions designation.

    First, all of the sanctioned person’s assets in the relevant country are frozen. This means that, while in principle they remain the sanctioned person’s property, they cannot be used or sold. This places those assets in limbo, potentially for a very long time.

    Second, no person within the sanctioning state’s jurisdiction – that is, no one in its territory, nor any of its citizens or residents – is allowed to make money or other resources available for the benefit of the sanctioned person.

    So, it is an offence for anyone in Australia to send funds to anyone on the Consolidated List. Interestingly, there is no prohibition on receiving money from sanctioned persons.

    Third, sanctioned persons are subject to an entry ban.

    So, if a foreigner is sanctioned by the Australian government, their permission to enter Australia will be denied or revoked.

    Legal challenges are possible. For example, in 2010, the daughter of a Burmese general studying at Western Sydney University unsuccessfully sued the foreign minister for sanctioning her and cancelling her visa based on her family ties.

    The sanctions against Ben-Gvir and Smotrich are what’s known as “Magnitsky” sanctions.

    This refers not to the substance of sanctions, but rather the reasons for their adoption, namely alleged corruption or human rights abuse, rather than other forms of wrongdoing. The imposition of sanctions on those grounds was pioneered by two US statutes named after Sergei Magnitsky, a Russian whistleblower killed in a Moscow prison.

    In the case of the Israeli ministers, human rights abuses are alleged.

    Sanctions can hurt in other ways, too

    But what is the practical effect of these kinds of sanctions designations?

    After all, many people sanctioned by Australia will not have any property in the country, will never receive any money from Australia, and may never contemplate visiting.

    One might be tempted to conclude that, in those circumstances, sanctions are ineffectual. But the reality is more complicated.

    In 2023, together with the London-based International Lawyers Project, I conducted the first study of the effect (or impact) of “Magnitsky” sanctions, focussing on the first 20 individuals sanctioned for alleged corruption under the US Global Magnitsky Act 2016.

    We found there were no less than ten types of effects that sanctions might have.

    And in at least two-thirds of the case studies we looked at, sanctions had an impact.

    This may be skewed by the high-profile nature of those first 20 corruption-related designations under the 2016 act, which included former heads of states and major businesspeople. Still, sanctions can mean more than their direct impact.

    Of these categories of effects, private sector action is especially important. This involves businesses globally dropping the targeted person as a customer even when not legally required to do so.

    For example, non-Australian banks are not bound by Australian sanctions. But, once Australian sanctions are in place, they feed into major private-sector sanctions databases that are used by banks worldwide.

    Global banks may well decide that – once someone is accused of human rights abuse, corruption or other misconduct by a credible government – keeping the targeted person on the books is no longer worthwhile, not least reputationally.

    For US sanctions, this effect is turbocharged by the fact virtually all banks need to route US dollar transactions via the US financial system, and they cannot do so on behalf of a sanctioned person. Banks soon drop such customers.

    In a famous example, Carrie Lam, the chief executive of Hong Kong, complained of having to keep piles of cash at home due to US sanctions precluding any Hong Kong bank from taking her on as a customer. (To be clear, the US has not imposed any sanctions on Ben-Gvir and Smotrich, and has opposed their designation by Australia and others.)

    Could Ben-Gvir and Smotrich fight these sanctions?

    Australian sanctions would not have such a profound impact, but they are a reputational irritant at the very least.

    This may account for the (failed) judicial challenges brought against Australian sanctions by two Russian oligarchs, Alexander Abramov and Oleg Deripaska, as well as another billionaire’s more successful petitioning of Australia’s foreign minister to lift the sanctions against him.

    In general, contesting sanctions in court is exceedingly difficult. Few claimants succeed, in Australia or elsewhere.

    It is far more likely the sanctions against Ben-Gvir and Smotrich will result in diplomatic discussions and lobbying behind the scenes.

    Anton Moiseienko has received funding from the Open Society Foundations in connection with the research cited in this article.

    – ref. What’s the potential effect of sanctions on Israeli ministers? Here’s what my research shows – https://theconversation.com/whats-the-potential-effect-of-sanctions-on-israeli-ministers-heres-what-my-research-shows-258692

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Money Market Operations as on June 11, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,95,936.52 5.18 2.50-6.55
         I. Call Money 15,257.24 5.31 4.80-5.35
         II. Triparty Repo 3,83,941.95 5.20 5.16-5.30
         III. Market Repo 1,94,273.33 5.13 2.50-5.60
         IV. Repo in Corporate Bond 2,464.00 5.41 5.35-6.55
    B. Term Segment      
         I. Notice Money** 34.50 5.17 5.05-5.25
         II. Term Money@@ 738.00 – 5.60-5.85
         III. Triparty Repo 1,555.00 5.30 5.15-5.50
         IV. Market Repo 375.60 5.15 1.00-5.45
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Wed, 11/06/2025 1 Thu, 12/06/2025 1,124.00 5.75
    4. SDFΔ# Wed, 11/06/2025 1 Thu, 12/06/2025 2,67,414.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,66,290.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,471.32  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,471.32  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,57,818.68  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 11, 2025 9,30,891.85  
         (ii) Average daily cash reserve requirement for the fortnight ending June 13, 2025 9,41,551.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 11, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 16, 2025 3,48,763.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/527

    MIL OSI Economics –

  • MIL-Evening Report: What will be the effect of Australia’s sanctions on Israeli ministers? Here’s what my research shows

    Source: The Conversation (Au and NZ) – By Anton Moiseienko, Senior Lecturer in Law, Australian National University

    Australia, Canada, New Zealand, Norway and the UK this week announced sanctions against two members of the Israeli cabinet: National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich.

    This is a momentous development. The governments concerned make it clear that they consider Ben-Gvir and Smotrich to be involved in “serious abuses of Palestinian human rights”, including “a serious abuse of the right of individuals not to be subjected to cruel, inhuman or degrading treatment or punishment”.

    This is an allegation rarely levelled against sitting ministers of a democratic state, predictably causing the Israeli government to protest.

    While diplomatic consequences play out, what are sanctions anyway, and what do they mean for Ben-Gvir and Smotrich?

    3 direct consequences

    “Sanctions” is a broad umbrella term. Whole countries can be sanctioned, but so can be individuals.

    Sanctions on individuals are imposed by means of a government placing them on its national sanctions list, such as Australia’s Consolidated List (which now features both Ben-Gvir and Smotrich).

    Three direct consequences flow from such a sanctions designation.

    First, all of the sanctioned person’s assets in the relevant country are frozen. This means that, while in principle they remain the sanctioned person’s property, they cannot be used or sold. This places those assets in limbo, potentially for a very long time.

    Second, no person within the sanctioning state’s jurisdiction – that is, no one in its territory, nor any of its citizens or residents – is allowed to make money or other resources available for the benefit of the sanctioned person.

    So, it is an offence for anyone in Australia to send funds to anyone on the Consolidated List. Interestingly, there is no prohibition on receiving money from sanctioned persons.

    Third, sanctioned persons are subject to an entry ban.

    So, if a foreigner is sanctioned by the Australian government, their permission to enter Australia will be denied or revoked.

    Legal challenges are possible. For example, in 2010, the daughter of a Burmese general studying at Western Sydney University unsuccessfully sued the foreign minister for sanctioning her and cancelling her visa based on her family ties.

    The sanctions against Ben-Gvir and Smotrich are what’s known as “Magnitsky” sanctions.

    This refers not to the substance of sanctions, but rather the reasons for their adoption, namely alleged corruption or human rights abuse, rather than other forms of wrongdoing. The imposition of sanctions on those grounds was pioneered by two US statutes named after Sergei Magnitsky, a Russian whistleblower killed in a Moscow prison.

    In the case of the Israeli ministers, human rights abuses are alleged.

    Sanctions can hurt in other ways, too

    But what is the practical effect of these kinds of sanctions designations?

    After all, many people sanctioned by Australia will not have any property in the country, will never receive any money from Australia, and may never contemplate visiting.

    One might be tempted to conclude that, in those circumstances, sanctions are ineffectual. But the reality is more complicated.

    In 2023, together with the London-based International Lawyers Project, I conducted the first study of the effect (or impact) of “Magnitsky” sanctions, focussing on the first 20 individuals sanctioned for alleged corruption under the US Global Magnitsky Act 2016.

    We found there were no less than ten types of effects that sanctions might have.

    And in at least two-thirds of the case studies we looked at, sanctions had an impact.

    This may be skewed by the high-profile nature of those first 20 corruption-related designations under the 2016 act, which included former heads of states and major businesspeople. Still, sanctions can mean more than their direct impact.

    Of these categories of effects, private sector action is especially important. This involves businesses globally dropping the targeted person as a customer even when not legally required to do so.

    For example, non-Australian banks are not bound by Australian sanctions. But, once Australian sanctions are in place, they feed into major private-sector sanctions databases that are used by banks worldwide.

    Global banks may well decide that – once someone is accused of human rights abuse, corruption or other misconduct by a credible government – keeping the targeted person on the books is no longer worthwhile, not least reputationally.

    For US sanctions, this effect is turbocharged by the fact virtually all banks need to route US dollar transactions via the US financial system, and they cannot do so on behalf of a sanctioned person. Banks soon drop such customers.

    In a famous example, Carrie Lam, the chief executive of Hong Kong, complained of having to keep piles of cash at home due to US sanctions precluding any Hong Kong bank from taking her on as a customer. (To be clear, the US has not imposed any sanctions on Ben-Gvir and Smotrich, and has opposed their designation by Australia and others.)

    Could Ben-Gvir and Smotrich fight these sanctions?

    Australian sanctions would not have such a profound impact, but they are a reputational irritant at the very least.

    This may account for the (failed) judicial challenges brought against Australian sanctions by two Russian oligarchs, Alexander Abramov and Oleg Deripaska, as well as another billionaire’s more successful petitioning of Australia’s foreign minister to lift the sanctions against him.

    In general, contesting sanctions in court is exceedingly difficult. Few claimants succeed, in Australia or elsewhere.

    It is far more likely the sanctions against Ben-Gvir and Smotrich will result in diplomatic discussions and lobbying behind the scenes.

    Anton Moiseienko has received funding from the Open Society Foundations in connection with the research cited in this article.

    – ref. What will be the effect of Australia’s sanctions on Israeli ministers? Here’s what my research shows – https://theconversation.com/what-will-be-the-effect-of-australias-sanctions-on-israeli-ministers-heres-what-my-research-shows-258692

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Speech by FS at International Conference on Roads and Railways 2025 (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the International Conference on Roads and Railways 2025 today (June 12):

    Alfred (President of the Hong Kong Institution of Highways and Transportation, Mr Alfred Leung), Vice President Wang (Vice President of the Research Institute of Highway of the Ministry of Transport of the People’s Republic of China Mr Wang Shuiyin), Tony (Director of Highways, Mr Tony Yau), distinguished guests and speakers, ladies and gentlemen,

         Good morning. It is a great pleasure to join you today at the inaugural International Conference on Roads and Railways – a timely and important gathering that brings together a distinguished community of policymakers, engineers, academics and industry leaders to explore the future of connectivity and sustainable mobility.

         To our guests from the Mainland and overseas, a very warm welcome to Hong Kong.

    The future of roads and railways 

         Roads and railways have long been the backbone of economic growth and social advancement. They are more than just physical infrastructure; they are public goods that connect people, expand opportunities, foster mutual understanding, and enable more inclusive development.

         In an era of rapid technological advancement and growing climate urgency, we are called not only to build infrastructure, but to build it smarter and greener. Transportation systems must be designed, constructed, operated, and maintained in ways that align with the sustainable development goals and meet the needs of future generations.

         Around the world, the momentum towards smart and sustainable mobility is accelerating. Emerging technologies, from artificial intelligence and the Internet of Things, to automation and digital twin systems, are transforming how we plan and manage transport infrastructure. These innovations are helping us optimise construction engineering, enable real-time traffic management, and apply AI-powered predictive maintenance that cuts costs, reduces downtime and enhances safety. 

         In short, we are seeing a profound shift from traditional infrastructure to intelligent assets that adapt, learn and improve over time.

         At the same time, the global push for decarbonisation is reshaping the transport landscape, calling for action on multiple fronts such as using low-carbon materials in construction; designing infrastructure to support green logistics; and investing in EV charging networks as critical enablers of clean transport. It also means leveraging smart technologies, such as optimising energy consumption through AI, sensor-based monitoring, modular construction, and more, to reduce emissions across the life cycle of transport assets. 

         Green infrastructure, once a goal, is now a necessity.

         A key strategy in this transition is transit-oriented development, or TOD, which is a planning approach that integrates high-density urban development with efficient public transport systems. It clusters housing, commercial services and amenities around transit hubs, reducing reliance on private vehicles and cutting greenhouse gas emissions. 

         Studies show that well-executed TOD can reduce urban carbon emissions by up to 25 per cent, while also enhancing liveability, walkability and economic vitality. In essence, TOD is about building communities that are compact, connected and carbon-conscious.

    Hong Kong’s experience 

         So where does Hong Kong stand in all these – and how can we contribute? I believe there are several areas that Hong Kong can share experience with our peers.

         First, technological expertise and professional excellence. Hong Kong’s pathway in transport infrastructure is built on advanced engineering know-how, precision planning, and a commitment to innovation. Mable, our Secretary for Transport and Logistics, will soon provide a detailed account of how we are taking the projects forwards and how we are applying advanced technologies. But allow me to highlight a few unique features of our experience. 

         Hong Kong is a compact and high-density city, where land is scarce and infrastructure must coexist with tight urban spaces. This has made us a pioneer in TOD, with railways serving as the backbone of urban development. Our railway-led planning integrates transport, housing and commercial uses to create seamlessly connected and lower-emission communities.

         A good example is the Northern Metropolis, envisioned as a major innovation and technology hub. With a projected population of 2.5 million and over 650 000 new jobs, its development will be “infrastructure-led” and “capacity-creating” – with key projects such as the Northern Metropolis Highway and the Northern Link driving connectivity and growth in the region.

         Given our dense built environment, careful planning and community engagement are essential to avoid undue disruption. While this can be time-consuming, it reminds us of the need to build infrastructure that is responsive to public aspirations and socially inclusive.

         Cross-boundary land transport infrastructure is a defining characteristic of Hong Kong. We have nine land boundary control points. From the Hong Kong-Zhuhai-Macao Bridge to the High Speed Rail, we have experience in integrating different engineering standards, operational models and even legal frameworks. A good example is the co-location of Mainland’s and Hong Kong’s customs, immigration and quarantine facilities at the Hong Kong West Kowloon Station. These projects require a high degree of agility, co-ordination with our counterparts and innovation.

         Second, smart and green innovation. Hong Kong is committed to making our transport systems smarter and greener, both as an innovator of new technologies and a user of cutting-edge solutions. 

         On the innovation side, we are investing heavily in four key technology areas: AI and robotics, biotech, fintech, and new energy and materials. Our goal is to become an international innovation and technology hub, with AI at its core.

         We already have a vibrant ecosystem of some 4 700 start-ups. In addition, we have been making good progress in attracting strategic enterprises to establish their presence, including R&D centres, here in Hong Kong. These include companies engaged in EVs, autonomous driving, smart traffic management and green materials, many of which are eager to seek global partners to expand their applications.

         On the application side, our high-density urban environment demands the use of advanced technologies to maintain efficiency and reliability of the transportation system. The opportunities in this space are vast, and we warmly welcome tech innovators from around the world to share solutions, co-create new applications, and shape the future of mobility together.

         Finally, financing the future. Hong Kong’s role as an international financial centre gives us a unique and powerful lever to support infrastructure development globally. 

         With a full suite of funding options, Hong Kong is where infrastructure projects from around the world can raise funds. This is particularly relevant for green, low-carbon infrastructure projects. We are Asia’s leading green bond market, accounting for nearly half of the region’s total issuance. 

         And we are also pioneering innovative financing models to unlock capital for infrastructure development. One such example is securitisation of infrastructure loans, a mechanism that transforms mature, revenue-generating brownfield assets into investment products, thereby freeing up capital for new greenfield projects. To date, Hong Kong has issued two such tranches, totalling US$800 million, supporting over 50 projects across the Middle East, Asia-Pacific and Latin America. 

         In regions where infrastructure funding gap remains urgent and significant – particularly in the Global South – Hong Kong offers practical and scalable ways to accelerate the delivery of essential and sustainable transport networks.

    Concluding remarks

         Ladies and gentlemen, to conclude, I believe the path to smarter and greener mobility is full of potential – and it is through collaboration, innovation and shared commitment that we will realise it.  

         On this note, I would like to extend my heartfelt thanks to the Transport and Logistics Bureau, the Highways Department, and the Hong Kong Institution of Highways and Transportation for organising this meaningful conference.

         I wish the conference every success, and I look forward to the ideas and partnerships that will emerge from these three exciting days. Thank you very much. 

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: As Senate Moves to Advance Landmark Stablecoin Legislation, Scott Hails U.S. Leadership in Digital Assets

    US Senate News:

    Source: United States Senator for South Carolina Tim Scott

    “Let’s finish the job and get this bill to President Trump’s desk for his signature.”

    WASHINGTON — Today, the U.S. Senate took an important step towards passing the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act – legislation led by Senator Bill Hagerty (R-Tenn.) and co-sponsored by Senator Tim Scott (R-S.C.), Senator Kirsten Gillibrand (D-N.Y.), Senator Cynthia Lummis (R-Wyo.), and Senator Angela Alsobrooks (D-Md.) – to establish a clear regulatory framework for payment stablecoins.

    Ahead of the vote, Senator Scott spoke on the Senate floor to highlight the importance of passing the bill to protect consumers, bolster our national security, expand financial inclusion, and assert U.S. leadership in digital assets. The GENIUS Act is the result of months of good-faith, bipartisan negotiations and has benefited from extensive consultation with industry participants, legal and academic experts, and government stakeholders. The bill advanced out of the Senate Banking Committee in March, with every Republican and five Democrats supporting it.

    Click here to watch the full speech.

    Senator Scott’s full remarks as delivered: 

    Today, Mr. President, is a good day to watch a bipartisan coalition do what we were sent here to do – work on the behalf of the American people.

    Today, the United States Senate can take a bold and historic step forward – not just for financial innovation, but also for American leadership, consumer protection, and economic opportunity.

    With the bipartisan GENIUS Act, we can do more than just pass a bill. We can deliver results for the American people.

    We can bring clarity to a sector that’s been clouded by uncertainty.

    And we can make it known: the United States will lead, not follow, in the digital asset revolution.

    When I became Chairman of the Senate Banking Committee, I promised to prioritize innovation, accountability, and smart regulation in the evolving digital economy.

    And we have the opportunity to deliver on that promise.

    The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate.

    It’s the product of months of bipartisan work – and I also want to thank the bill’s sponsor, Bill Hagerty, who went out of his way to make this legislation a bipartisan success – by partnering with Senator Alsobrooks, working with Gillibrand, along with our colleagues on this side of the aisle – Senator Lummis and myself. I am incredibly proud to see the hard work of Senator Hagerty pay off – not for him – but for the American people. That’s what makes this process such a special one. It’s what makes the United States Senate the most deliberative body in the world today.

    This is a victory for working families, small businesses, and everyday Americans who deserve faster, cheaper, and safer access to financial services.

    It’s a win for innovation because this framework will give entrepreneurs the confidence to build here in the United States of America, and not abroad.

    And it’s a win for national security – because the GENIUS Act brings stablecoin issuers under strict anti-money laundering standards, cracking down on bad actors at home and abroad.

    Let me be clear: this did not happen by accident.

    It happened because we led.

    To those who said Washington could not act, to those who doubted bipartisanship – let’s prove them wrong.

    Let’s show that principled leadership, conservative values, and common sense can still move this country forward.

    And I would not be complete in my comments if I did not stop and thank the Senate Banking staff for their hard work and their dedication. It would be incomplete, if I did not stop and thank Senator Hagerty’s staff for their hard work, countless hours, and Senator Gillibrand’s staff, for her dedication, and their dedication to this issue, and certainly, Senator Lummis and her staff who spent countless hours making a good product better. 

    Let’s finish the job and get this bill to President Trump’s desk for his signature.

    Thank you.

    MIL OSI USA News –

  • MIL-OSI China: China taps policy tools, emerging industries to unlock job market potential

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

    As part of its broader strategy to ensure high-quality and sufficient employment, China is combining fiscal support, targeted incentives and the rise of emerging industries to drive employment growth.

    Recent official data indicate that China’s job market remains broadly stable. The surveyed urban unemployment rate edged down to 5.1 percent in April from 5.2 percent in March, maintaining an average of 5.2 percent in the first four months of 2025.

    Fu Linghui, spokesperson for the National Bureau of Statistics, credited this steady trend to the country’s improving industrial performance and expanding new growth drivers, along with strengthened assistance for key labor groups.

    Recognizing employment as a strategic priority, China’s leadership reaffirmed job stability as a top policy goal at a tone-setting meeting of the Political Bureau of the Communist Party of China Central Committee held in April 2025.

    As part of these coordinated efforts, multiple government authorities on the same day jointly unveiled measures in a circular aimed at bolstering employment among 2025 college graduates and young jobseekers.

    “College graduates and other youths are valuable human resources,” the circular stated, urging maximum efforts to support their employment.

    Organizations that employ 2025 graduates, graduates unemployed within the first two years after leaving school or registered unemployed youth aged 16-24, are eligible for a one-off job expansion subsidy, according to the circular. This policy will be in effect until Dec. 31, 2025.

    Complementing these youth-focused measures, authorities have extended broader financial support to companies aiming to preserve existing jobs. Key unemployment insurance relief policies, which help companies retain employees and support workers in upgrading their skills, have been extended through the end of 2025.

    These supportive policies coincide with robust demand growth in China’s high-tech industries. Notably, industry data highlight significant increases in recruitment activity in fields like industrial automation and digital technologies in the first quarter of 2025.

    Data from Zhaopin.com show that vacancies for mechanical and automation engineers in the industrial automation sector had jumped by 40 percent and 10 percent in this period, respectively, while those requiring algorithm engineers and machine learning specialists rose by 44 percent and 18 percent, respectively, reflecting the increasing role of technology-driven growth.

    This momentum is echoed by major Chinese enterprises, including tech giants and manufacturing firms, which have recently unveiled ambitious recruitment plans.

    Tencent, for instance, announced its largest-ever employment initiative, creating 28,000 internships over three years, many with the prospect of full-time conversion. As of early March this year, the company had employed over 55,000 people — with technology roles accounting for 73 percent of total staff.

    Similarly, Alibaba opened over 3,000 roles in its 2026 spring campus recruitment round, nearly half of which are in AI-related fields. Midea Group, a leading home appliance manufacturer, plans to provide more than 2,000 positions through campus recruitment in 2025.

    China’s employment strategy goes beyond merely recruitment, but also emphasizes retaining and upgrading talent. Many enterprises have significantly invested in employee training programs, implementing structured pathways to facilitate skills enhancement and career growth.

    Fuyao Group, a leading global automotive glass supplier, for example, has developed a comprehensive training system, digitally connecting nearly 30,000 employees through its internal platform, complemented by technical skills programs.

    Vocational training across the country is likewise scaling up to match emerging employment demands. Local governments have initiated subsidized training programs targeting crucial sectors — such as advanced manufacturing, eldercare, childcare and modern services.

    In Chengdu, capital of southwest China’s Sichuan Province, a robotics innovation center has trained over 12,000 professionals in advanced robotics alone. Its future plans involve expanded collaboration with universities and industry leaders in fields including artificial intelligence, big data and cloud computing.

    Such integrated industry-education ecosystems are becoming increasingly common nationwide, and are designed to continuously replenish talent pools in rapidly evolving sectors.

    Looking ahead, Chen Yun, a researcher at the Chinese Academy of Labor and Social Security, suggested maintaining employment-oriented vocational training.

    Chen also called for further targeted fiscal, tax, financial, technological and industrial policies tailored specifically to different business conditions — with intensified support for enterprises facing greater difficulties. 

    MIL OSI China News –

  • MIL-Evening Report: Trump may try to strike a deal with AUKUS review, but here’s why he won’t sink it

    Source: The Conversation (Au and NZ) – By John Blaxland, Professor, Strategic and Defence Studies Centre, Australian National University

    The Pentagon has announced it will review the massive AUKUS agreement between the United States, United Kingdom and Australia to ensure it’s aligned with US President Donald Trump’s “America first” agenda.

    The US undersecretary of defence for policy, Elbridge Colby, is reportedly going to oversee the review.

    The announcement has raised concern in Australia, but every government is entitled to review policies that their predecessors have made to consider whether or not there’s a particular purpose.

    The UK has launched a parliamentary inquiry into AUKUS too, so it’s not actually unreasonable for the US to do the same.

    There’s a degree of nervousness in Australia as to what the implications are because Australia understandably has the biggest stake in this.

    But we need to consider what Colby has articulated in the past. In his book, The Strategy of Denial: American Defence in the Nature of Great Power Conflict, he made the case the US could “prepare to win a war with China it cannot afford to lose – in order to deter it from happening”.

    So, with a deterrent mindset, he sees the need for the US to muscle up militarily.

    He’s spoken about the alliance with Australia in very positive terms on a couple of occasions. And he has called himself an “AUKUS agnostic”, though he has expressed deep concern about the ability of the submarine industrial base in the US to manufacture the ships quickly enough.

    And that leads to the fear the US Navy would not have enough submarines for itself if Washington is also sending them to Australia.

    As part of the deal, Australia would eventually be able to contribute to accelerating the production line. That involves Australian companies contributing to the manufacture of certain widgets and components that are needed to build the subs.

    Australia has already made a nearly A$800 million (US$500 million) down payment on expanding the US industrial capacity as part of the deal to ensure we get some subs in a reasonable time frame.

    There’s also been significant legislative and industrial reforms in the US, Australia and UK to help facilitate Australian defence-related industries unplug the bottleneck of submarine production.

    There’s no question there’s a need to speed up production. But we are already seeing significant signs of an uptick in the production rate, thanks in part to the Australian down payment. And it’s anticipated the rate will significantly increase in the next 12–18 months.

    Even still, projects like this often slide in terms of timelines.

    Why the US won’t spike the deal

    I’m reasonably optimistic that, on balance, the Trump administration will come down on the side of proceeding with the deal.

    There are a few key reasons for this:

    1) We’re several years down the track already.

    2) We have more than 100 Australian sailors already operating in the US system.

    3) Industrially, we’re on the cusp of making a significant additional contribution to the US submarine production line.

    And finally, most people don’t fully appreciate that the submarine base just outside Perth is an incredibly consequential piece of real estate for US security calculations.

    Colby has made very clear the US needs to muscle up to push back and deter China’s potential aggression in the region. In that equation, submarines are crucial, as is a substantial submarine base in the Indian Ocean.

    China is acutely mindful of what we call the “Malacca dilemma”. Overwhelmingly, China’s trade of goods and fossil fuels comes through the Malacca Strait between Malaysia and Indonesia’s island of Sumatra. The Chinese know this supply line could be disrupted in a war. And the submarines operating out of Perth contribute to this fear.

    This is a crucial deterrent effect the US and its allies have been seeking to maintain. And it has largely endured.

    Given nobody can predict the future, we all want to prevent a war over Taiwan and we all want to maintain the status quo.

    As such, the considered view has been that Australia will continue to support the US to bolster its deterrent effect to prevent such a scenario.

    Could Trump be angling for a deal?

    As part of the US review of the deal, we could see talk of a potential slowdown in the delivery rate of the submarines. The Trump administration could also put additional pressure on Australia to deliver more for the US.

    This includes the amount Australia spends on defence, a subject of considerable debate in Canberra. Taking Australia’s overall interests into account, the Albanese government may well decide increasing defence spending is an appropriate thing to do.

    There’s a delicate dance to be had here between the Trump administration, the Australian government, and in particular, their respective defence departments, about how to achieve the most effective outcome.

    It’s highly likely whatever decision the US government makes will be portrayed as the Trump administration “doing a deal”. In the grand scheme of things, that’s not a bad thing. This is what countries do.

    We talk a lot about the Trump administration’s transactional approach to international relations. But it’s actually not that different to previous US administrations with which Canberra has had to deal.

    So I’m reasonably sanguine about the AUKUS review and any possible negotiations over it. I believe the Trump administration will come to the conclusion it does not want to spike the Australia relationship.

    Australia has been on the US side since federation. Given this, the US government will likely make sure this deal goes ahead. The Trump administration may try to squeeze more concessions out of Australia as part of “the art of the deal”, but it won’t sink the pact.

    However, many people will undoubtedly say this is the moment Australia should break with AUKUS. But then what? What would Australia do instead to ensure its security in this world of heightened great power competition in which Australia’s interests are increasingly challenged?

    Walking away now would leave Australia more vulnerable than ever. I think that would be a great mistake.

    From 2015 to 2017 John Blaxland received funding from the US Department of Defense Minerva Research Initiative (subsequently disbanded by the Trump administration). This was used to write a book (with Greg Raymond) entitled “The US Thai Alliance and Asian International Relations” (Routledge, 2021). John currently is a fulltime employee of the ANU.

    – ref. Trump may try to strike a deal with AUKUS review, but here’s why he won’t sink it – https://theconversation.com/trump-may-try-to-strike-a-deal-with-aukus-review-but-heres-why-he-wont-sink-it-258798

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for June 12, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on June 12, 2025.

    Trump may try to strike a deal with AUKUS review, but here’s why he won’t sink it
    Source: The Conversation (Au and NZ) – By John Blaxland, Professor, Strategic and Defence Studies Centre, Australian National University The Pentagon has announced it will review the massive AUKUS agreement between the United States, United Kingdom and Australia to ensure it’s aligned with US President Donald Trump’s “America first” agenda. The US undersecretary of defence

    Why are sunsets so pretty in winter? There’s a simple explanation
    Source: The Conversation (Au and NZ) – By Chloe Wilkins, Associate Lecturer and PhD Candidate, Solar Physics, University of Newcastle nelo2309/Shutterstock If you live in the southern hemisphere and have been stopped in your tracks by a recent sunset, you may have noticed they seem more vibrant lately. The colours are brighter and bolder, and

    After weeks of confusion and chaos, Tasmania heads back to the polls on July 19
    Source: The Conversation (Au and NZ) – By Robert Hortle, Deputy Director, Tasmanian Policy Exchange, University of Tasmania The Tasmanian government has called a state election for July 19, the fourth in a little over seven years. Following days of high drama, Governor Barbara Baker finally granted Liberal Premier Jeremy Rockliff’s election request, saying there

    Goodbye to all that? Rethinking Australia’s alliance with Trump’s America
    Source: The Conversation (Au and NZ) – By Mark Beeson, Adjunct professor, Australia-China Relations Institute, University of Technology Sydney Even the most ardent supporters of the alliance with the United States – the notional foundation of Australian security for more than 70 years – must be having some misgivings about the second coming of Donald

    A reversal in US climate policy will send renewables investors packing – and Australia can reap the benefits
    Source: The Conversation (Au and NZ) – By Christian Downie, Professor, Australian National University President Donald Trump is trying to unravel the signature climate policy of his predecessor Joe Biden, the Inflation Reduction Act, as part of a sweeping bid to dismantle the United States’ climate ambition. The Inflation Reduction Act, or IRA, is a

    ‘Hard to measure and difficult to shift’: the government’s big productivity challenge
    Source: The Conversation (Au and NZ) – By Stephen Bartos, Professor of Economics, University of Canberra Higher productivity has quickly emerged as an economic reform priority for Labor’s second term. Prime Minister Anthony Albanese has laid down some markers for a productivity round table in August, saying he wants it to build the “broadest possible

    Extreme weather could send milk prices soaring, deepening challenges for the dairy industry
    Source: The Conversation (Au and NZ) – By Milena Bojovic, Lecturer, Sustainability and Environment, University of Technology Sydney Australia’s dairy industry is in the middle of a crisis, fuelled by an almost perfect storm of challenges. Climate change and extreme weather have been battering farmlands and impacting animal productivity, creating mounting financial strains and mental

    201 ways to say ‘fuck’: what 1.7 billion words of online text shows about how the world swears
    Source: The Conversation (Au and NZ) – By Martin Schweinberger, Lecturer in Applied Linguistics, The University of Queensland Our brains swear for good reasons: to vent, cope, boost our grit and feel closer to those around us. Swear words can act as social glue and play meaningful roles in how people communicate, connect and express

    Were the first kings of Poland actually from Scotland? New DNA evidence unsettles a nation’s founding myth
    Source: The Conversation (Au and NZ) – By Darius von Guttner Sporzynski, Historian, Australian Catholic University An illustration from a 15th-century manuscript showing the coronation of the first king of Poland, Boleslaw I. Chronica Polonorum by Mathiae de Mechovia For two centuries, scholars have sparred over the roots of the Piasts, Poland’s first documented royal

    Medical scans are big business and investors are circling. Here are 3 reasons to be concerned
    Source: The Conversation (Au and NZ) – By Sean Docking, Research Fellow, School of Public Health and Preventive Medicine, Monash University wedmoments.stock/Shutterstock Timely access to high-quality medical imaging can be lifesaving and life-altering. Radiology can confirm a fractured bone, give us an early glimpse of our baby or detect cancer. But behind the x-ray, ultrasound,

    ‘Microaggressions’ can fly under the radar in schools. Here’s how to spot them and respond
    Source: The Conversation (Au and NZ) – By Rachel Leslie, Lecturer in Curriculum and Pedagogy with a focus on Educational Psychology, University of Southern Queensland Klaus Vedfelt/ Getty Images Bullying is sadly a common experience for Australian children and teenagers. It is estimated at least 25% experience bullying at some point in their schooling. The

    New Zealand’s ‘symbolic’ sanctions on Israel too little, too late, say opposition parties
    By Russell Palmer, RNZ News political reporter Opposition parties say Aotearoa New Zealand’s government should be going much further, much faster in sanctioning Israel. Foreign Minister Winston Peters overnight revealed New Zealand had joined Australia, Canada, the UK and Norway in imposing travel bans on Israel’s Finance Minister Bezalel Smotrich and National Security Minister Itamar

    More deaths reported out of Sugapa in West Papua clashes with military
    By Caleb Fotheringham, RNZ Pacific journalist Further reports of civilian casualties are coming out of West Papua, while clashes between Indonesia’s military and the armed wing of the Free Papua Movement continue. One of the most recent military operations took place in the early morning of May 14 in Sugapa District, Intan Jaya in Central

    Q+A follows The Project onto the scrap heap – so where to now for non-traditional current affairs?
    Source: The Conversation (Au and NZ) – By Denis Muller, Senior Research Fellow, Centre for Advancing Journalism, The University of Melbourne Two long-running television current affairs programs are coming to an end at the same time, driving home the fact that no matter what the format, they have a shelf life. The Project on Channel

    Sanctioning extremist Israeli ministers is a start, but Australia and its allies must do more
    Source: The Conversation (Au and NZ) – By Jessica Whyte, Scientia Associate Professor of Philosophy and ARC Future Fellow, UNSW Sydney The Australian government is imposing financial and travel sanctions on two far-right Israeli ministers: Itamar Ben-Gvir (the national security minister) and Bezalel Smotrich (finance minister). This is a significant development. While Australia has previously

    Malaria has returned to the Torres Strait. What does this mean for mainland Australia?
    Source: The Conversation (Au and NZ) – By Cameron Webb, Clinical Associate Professor and Principal Hospital Scientist, University of Sydney Aspect Drones/Shutterstock Malaria is one of the deadliest diseases spread by mosquitoes. Each year, hundreds of millions of people worldwide are infected and half a million people die from the disease. While mainland Australia was

    Is regulation really to blame for the housing affordability crisis?
    Source: The Conversation (Au and NZ) – By Nicole Gurran, Professor of Urban and Regional Planning, University of Sydney ymgerman/Shutterstock The Albanese government has a new mantra to describe the housing crisis, which is showing no signs of abating: homes have simply become “too hard to build” in Australia. The prime minister and senior ministers

    NZ’s goal is to get smoking rates under 5% for all population groups this year – here’s why that’s highly unlikely
    Source: The Conversation (Au and NZ) – By Janet Hoek, Professor in Public Health, University of Otago Getty Images Next week is “scrutiny week” in parliament – one of two weeks each year when opposition MPs can hold ministers accountable for their actions, or lack thereof. For us, it’s a good time to take stock

    Labor’s win at the 2025 federal election was the biggest since 1943, with its largest swings in the cities
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne We now have the (almost!) final results from the 2025 federal election – with only Bradfield still to be completely resolved. Labor won 94 of the 150

    What are the ‘less lethal’ weapons being used in Los Angeles?
    Source: The Conversation (Au and NZ) – By Samara McPhedran, Principal Research Fellow, Griffith University After United States Immigration and Customs Enforcement (ICE) agents arrested multiple people on alleged immigration violations, protests broke out in Los Angeles. In response, police and military personnel have been deployed around the greater LA area. Authorities have been using

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: China’s wine market uncorks consumption vitality

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

    In an exhibition hall at an expo in Yinchuan, the capital of northwest China’s Ningxia Hui Autonomous Region, the rich aroma emanating from a copper hot pot is gaining the attention of visitors. The dish of tender mutton cooked in red wine-added broth is a perfect blend of two of Ningxia’s most famed products.

    “Using spring water, red wine and nourishing ingredients removes unpleasant smells, making the mutton delicious and flavorful,” said Tian Feng, who manages the hot pot restaurant operating the booth. The popularity of its red wine hot pot ensures the restaurant is often fully booked on weekends, Tian added.

    Across China’s evolving consumer landscape, wine is undergoing a subtle transformation. No longer restricted to formal banquets and professional tasting events, wine is becoming accessible as various consumption scenarios and wine products are created.

    This shift in accessibility is evident at the ongoing Fifth China (Ningxia) International Wine Culture and Tourism Expo in Ningxia, which is a renowned wine production region that is promoting a “tipsy economy.”

    People visit the Global Wineries Exhibition during the Fifth China (Ningxia) International Wine Culture and Tourism Expo in Yinchuan, northwest China’s Ningxia Hui Autonomous Region, on June 9, 2025. (Xinhua/Wang Peng)

    Ningxia boasts a unique terroir for the production of top-class wine, with prolonged sunshine hours and a cool, dry climate aiding the cultivation of grapes. After four decades of development, it has become China’s largest wine-producing region. The eastern foot of Helan Mountain is widely regarded as a “golden zone” for grape cultivation and high-end wine production.

    By the end of 2024, the region had more than 600,000 mu (about 40,000 hectares) of wine grape plantations and an annual wine output of 140 million bottles. Its wines were exported to over 40 countries and regions.

    At the expo, brightly colored canned wines from the Ningxia State Farm Winery have won the favor of many. Compared to bottled wines, canned wines are more convenient to drink and can more easily meet the demands of diverse scenarios such as camping and picnics, said Li Shuang, the winery’s sales manager.

    In addition to its canned wines, which have been popular since their launch last year, the company offers innovative products such as creamy jasmine wine, lemon oolong tea wine, black coffee wine and alcohol-free options. These products drove 20 percent of the company’s sales growth in 2024, Li said.

    Athletes run past a wine grape plantation during a half-marathon in northwest China’s Ningxia Hui Autonomous Region, on Sept. 16, 2024. (Xinhua/Feng Kaihua)

    Cheeks rosy after tasting a dozen wines at the expo, local visitor Lu Ting is a tourism professional and sommelier who enjoys buying wines to share with family and friends.

    “Chardonnay with meat skewers, reds with hot pot — it’s about sharing joy,” said Lu, 42.

    The four-day event will run until Thursday and is slated to include a world wine tasting event, a wine and winery exhibition, an innovation competition and an art biennial.

    Last month, Yinchuan also hosted a marathon that saw 43 local wineries offer 28,000 runners free vineyard tours, tastings and exclusive discounts for wine purchases. This event-driven approach has created a powerful synergy between tourism and viticulture, resulting in a surge in hotel bookings in the city.

    Sommeliers sample glasses of wine during the 32nd Concours Mondial de Bruxelles (CMB) in Yinchuan, northwest China’s Ningxia Hui Autonomous Region, June 10, 2025. (Xinhua/Du Juanjuan)

    “We’re transforming the entire city into a living wine museum,” said Li Bingjie, director of Yinchuan’s wine industry development service center. “Visitors can fully immerse themselves in the journey from grape to glass.”

    Speaking at the expo’s opening ceremony on Monday, Yvette van der Merwe, president of the International Organisation of Vine and Wine, said that the organization has for many years observed and supported the rise of China’s grape and wine industry, with the country being an important wine consumer and table grape producer.

    “I see the energy that the growth of Ningxia Helan Mountain’s east foothill region has contributed to the Chinese wine industry, and I am confident that it will bring new inspiration and opportunities to the global wine community,” she said.

    MIL OSI China News –

  • MIL-OSI USA: ICYMI—Hagerty Joins America’s Newsroom on Fox News to Discuss Iran Nuclear Talks, Chinese Nationals

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, joined America’s Newsroom on Fox News to discuss Iran nuclear talks, along with deporting Chinese nationals that are in the country illegally.

    *Click the photo above or here to watch*
    Partial Transcript
    Hagerty on Iran nuclear talks: “If you think about it, we would not be in this position had we stayed with the ‘Maximum Pressure Campaign’ that President [Donald] Trump put in place in the first administration. When I was Ambassador to Japan, that was part of my role to get the Japanese to stop buying Iranian crude [oil]. We did that all over the world. We brought Iranian reserves down to almost nothing. The pressure was enormous on them. They were ready to deal. [Former President] Joe Biden comes into office, immediately relaxes all of the sanctions. Money starts flowing back to Iran. Terror starts flowing in the region. Iran is the heart of all of the terror that’s happening in the Middle East right now. And this is their tactic. They go back to obfuscating, trying to kick the can down the road, drawing out time. President Trump has dealt with them. He understands this—and I’m certain he’s disappointed with it—but he also strategically needs to bring them back to the table. And Iran needs to understand we will not tolerate their behavior. We’re not going to tolerate their funding [of] terrorism, and they will not have a nuclear weapon.”
    Hagerty on the stark difference between Obama’s and Trump’s negotiations with Iran: “If you think about what’s happened since that time, the Bidens allowed a lot more money to flow into Iran. Iran has advanced the ball much further in terms of their enrichment capabilities. That would’ve never happened at President Trump’s state in office. But again, the overarching objective is to stop Iran and stop this regime from funding terror and also do not allow them to get in a position to threaten the rest of the world with nuclear competence. That means they’re not going to get a nuclear weapon. So, the terms broadly are the same. The conditions are quite different though, and they’re much worse thanks to the Biden administration that stepped in and made [it] difficult for President Trump the first time, with the pallets of cash that [Former President Barack] Obama gave them, even though the Iranians never abided by the original negotiation, the original deal that they struck as well.”
    Hagerty on deporting illegal Chinese nationals: “This threat wouldn’t exist [had] Joe Biden not collapsed our southern border. These people are here illegally in the first place. The many that have been deported now recently were here illegally coming from China, coming from all over the world, many without our best interests at heart. The other piece of this, though—and let’s not forget what China has done on fentanyl as well—the precursors that continue to flow into this country. They’re waging war on us in multiple ways. This agroterrorism is a part of a biotechnology effort that China has going on, that the [Chinese Communist Party] has going on. I’ve fought hard here with my Biosecure Act to prevent U.S. funds from supporting biotechnology research that would happen here with Chinese equipment. We don’t want them to have access to our DNA data, certainly our genomic data. They’re trying at every front to gain advantage. And this agroterrorism was deeply, deeply concerning. If that had happened, if we’d not caught that, who knows what might’ve happened to our crops. It would’ve been devastating. So, we need to be much more diligent at every level. President Trump’s certainly trying to do that, and by making certain that these Chinese nationals, as well as many others, that are here illegally that may not have our best interest at heart. Sending them back out of the country is the right move.”

    MIL OSI USA News –

  • MIL-OSI Australia: Disability and aged care support platform amends unfair contract terms

    Source: Australian Ministers for Regional Development

    Online services platform Mable Technologies Pty Ltd (Mable) has admitted to breaching the Australian Consumer Law (ACL) by using unfair contract terms when connecting people seeking care support to independent support workers.

    Support services facilitated through Mable include social support, domestic support, nursing services and allied health services. Clients using the platform include participants on the National Disability Insurance Scheme (NDIS), the elderly and other people requiring support.

    Mable admitted the breaches of the ACL in a court-enforceable undertaking accepted by the ACCC.

    The unfair contract terms were in place between 9 November 2023 and 22 August 2024. These terms included the potential for Mable to receive a minimum penalty fee of $5,000 from clients and support workers in particular circumstances. For example, a support worker who leaves the Mable platform would be liable to pay the penalty fee if, within 12 months of leaving, they continued their care arrangement with a client they were introduced to through the platform.

    The terms also provided for a client’s ‘service log’ (similar to an attendance record or timesheet) to be automatically deemed approved unless the client disputed it within 24 hours. Other terms allowed Mable to change some of its fees and terms without reasonable notice. Mable also included terms which sought to limit its liability for claims and losses.

    “We were concerned Mable’s unfair contract terms potentially disadvantaged its clients, about half of whom are NDIS participants, as well as the support workers operating as sole traders or small businesses,” ACCC Deputy Chair Catriona Lowe said.

    “Contractual relationships with consumers and small businesses should be fair and more powerful parties should not stipulate terms which are unfair or limit existing rights. This is especially concerning where the clients are people experiencing vulnerabilities and disadvantage.”

    Mable has cooperated with the ACCC’s investigation, amended its website and terms of use and offered a court-enforceable undertaking to address the ACCC’s concerns.

    The undertaking prohibits Mable from entering into particular terms with its clients and support workers, and to clearly and prominently communicate significant terms to clients and support workers. It also requires Mable to establish and maintain an ACL compliance program.

    “We were concerned that the terms, which Mable has admitted were unfair, were so weighted in Mable’s favour that they created a significant imbalance in the contractual rights and obligations between Mable and its clients and support workers,” Ms Lowe said.

    “We remind businesses who have not yet reviewed their contracts and removed or amended unfair terms that we are continuing to monitor the disability and aged care sector and will take appropriate action when warranted,” Ms Lowe said.

    Businesses can view information about changes to the unfair contract terms laws on the ACCC’s website.

    Further information for NDIS participants is available on the ACCC website.

    A copy of the undertaking is available at Mable Technologies Pty Ltd.

    Background

    Mable is an online platform provider for assisted care services. It operates a two-sided online platform that connects people looking for care support with independent support workers. Support services provided through Mable include social support, domestic support, nursing services and allied health services.

    From November 2023, changes to the ACL prohibit businesses from proposing, using, or relying on unfair contract terms in standard form contracts with consumers and small businesses.

    Note to editors

    Each year, the ACCC announces a list of Compliance and Enforcement priorities. These priorities outline the areas of focus for the ACCC’s compliance and enforcement activities for the following year.

    As part of the 2025/26 Compliance and Enforcement Priorities, the ACCC is prioritising improving compliance by NDIS providers with their obligations under the Australian Consumer Law.

    Enforcement activities in relation to unfair contract terms in consumer and small business contracts are another 2025/26 Compliance and Enforcement Priority.

    The ACCC recognises that consumers experiencing vulnerability or disadvantage can be disproportionately affected by breaches of the law. Addressing conduct that impacts this cohort of consumers is always an ACCC priority. 

    In December 2023, the government established the NDIS (Fair Price and Australian Consumer Law) Taskforce comprising the ACCC, the NDIS Quality and Safeguards Commission and the NDIA. The Taskforce was established to address concerns that NDIS participants were being charged more for goods and services than other people, and to address potential breaches of Australian Consumer Law.

    MIL OSI News –

  • MIL-OSI: Wall Street Veteran Launches Titan Capital to Bring Institutional Wealth Strategies to Entrepreneurs

    Source: GlobeNewswire (MIL-OSI)

    Bethesda, MD, June 11, 2025 (GLOBE NEWSWIRE) — Titan Capital Strategies, a boutique financial advisory firm founded by former Wall Street portfolio strategist Nareena Khan, officially announces its mission to bring elite financial planning tools to high-performing business owners.

    After managing over $10 billion in institutional portfolios, Khan is shifting her focus to an under-served demographic: high-net-worth entrepreneurs scaling ambitious ventures in real estate, healthcare, and technology.

    In an environment where traditional financial systems often overlook the complexity and pace of founder-led businesses, Titan Capital Strategies aims to fill the gap. The firm delivers customized strategic capital planning services with a clear goal: to help entrepreneurs protect, scale, and sustain the businesses they’ve risked everything to build without compromising their personal financial safety.

    Nareena positions herself as a strategic partner, not a product pusher, for founders building something bigger than themselves.

    From Wall Street to Founder-Focused Solutions

    Nareena Khan’s pivot to entrepreneurship was sparked by a powerful realization: the same tools she used to manage multi-billion-dollar portfolios on Wall Street could—and should—be accessible to the entrepreneurs driving the real economy from the ground up.

    As a seasoned wealth strategist, Nareena brings an institutional-level lens to business owner financial planning, cutting through the noise to offer clarity in a landscape often clouded by complexity.

    “Too many founders operate without a true capital strategy,” says Khan. “They’re navigating risk blind—under-leveraged, overexposed, and often unsupported. We help them design smarter financial structures that evolve with their business and protect what they’ve built.”

    That mindset led Nareena to launch Titan Capital Strategies, a firm built not around institutions, but around individuals such as entrepreneurs, founders, and value creators. It was a bold step away from the high-stakes world of capital markets and elite portfolios—and into something far more personal.

    “I wanted more than spreadsheets and returns,” she reflects. “I wanted to know the people behind the numbers—the builders, the visionaries, the ones taking all the risk but getting none of the tailored support.”

    Then the pandemic hit—and deepened her clarity.

    “Watching people say goodbye to loved ones over video, seeing lives cut short with no closure… it made me ask: What am I doing with my time? What legacy do I want to leave behind?”

    That moment redefined her path—not away from finance, but toward a more human-centered approach. Today, Nareena helps business owners unlock liquidity, minimize tax drag, and preserve generational wealth—using elite strategies once reserved for institutions, now tailored for the founders shaping our future.

    A Framework Built for Visionaries

    Titan Capital Strategies applies a proprietary four-step model that guides founders from idea to execution. The process begins with clarifying the entrepreneur’s long-term vision, then mapping out exposure and risk. From there, the firm crafts tailored financial and succession planning solutions, integrating efforts with clients’ existing legal, tax, and accounting teams.

    Khan’s strategic plans often include alternative funding pathways such as premium financing, asset-backed lending, advanced insurance structures, and IUL for entrepreneurs. These strategies deliver tax-efficient growth while limiting reliance on personal guarantees or traditional loans.

    Addressing a Market Gap

    The need is urgent. According to PwC, 70% of business owners lack a formal risk mitigation or succession planning strategy. CNBC reports that over 60% of high-income entrepreneurs do not have access to advanced tax-free strategies. Titan Capital Strategies is responding with solutions that match the complexity of modern entrepreneurial ventures.

    By focusing on execution, not product sales, Khan positions herself not as a financial salesperson but as a strategic partner aligned with her clients’ broader ambitions.

    Reaching Underserved Founders with Smarter Capital

    Titan Capital Strategies serves founders who are rapidly scaling and need a capital strategy to match their momentum. Whether transitioning from seven to eight figures in revenue or preparing for an exit, clients work with Khan and her team to access capital in ways that preserve control and accelerate growth.

    Nareena’s experience managing institutional assets has uniquely prepared her to help clients unlock funding without exposing personal wealth. In recent cases, she has helped entrepreneurs restructure their financial positions to access multimillion-dollar capital while reducing tax liabilities and personal risk.

    New Chapter, Same Strategic Excellence

    The founding of Titan Capital Strategies marks a significant transition for Khan from portfolio manager to entrepreneurial ally. It’s also a shift that signals an evolving financial services landscape, one that demands agility, innovation, and transparency. The firm’s approach is especially timely in a post-2020 economy where founders are seeking financial strategies as dynamic as their ventures.

    Titan Capital Strategies does not offer one-size-fits-all products. Instead, each engagement is rooted in deep collaboration and long-term alignment. This methodology has already attracted interest from growth-stage companies and seasoned entrepreneurs looking for a financial advisor who understands the urgency, complexity, and stakes of founder-led growth.

    About Titan Capital Strategies

    Titan Capital Strategies is a strategic financial advisory firm based in Bethesda, Maryland, serving high-net-worth entrepreneurs across the U.S. The firm specializes in strategic capital planning, premium financing, alternative funding, and risk mitigation for business owners in high-growth sectors. Founded by former Wall Street strategist Nareena Khan, Titan Capital Strategies is committed to helping visionary entrepreneurs achieve tax-efficient growth and long-term wealth protection through fully customized planning frameworks.

    For more information or to explore a private strategy session, visit www.titancapitalstrategies.com.

    The MIL Network –

  • MIL-OSI China: Taiwan separatists not allowed to profit from mainland: Spokesperson

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

    The Chinese mainland will never tolerate any individuals profiting from the mainland while supporting “Taiwan independence,” a spokesperson said on Wednesday.

    Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, was responding to recent remarks from Taiwan’s die-hard separatist Shen Pao-yang about punitive measures taken by the mainland against companies linked to him.

    Noting the mainland’s firm stance on the matter, Zhu said there can be no tolerance or leniency for die-hard secessionists or companies associated with them. “Punishment is imperative,” she said.

    Secessionist acts, she warned, ultimately backfire, harming not only others but also those who commit these acts. “There is no escaping the law.”

    Media reports have said that aside from Shen, other politicians from the Democratic Progressive Party have also profited from the mainland through their family members. They have been widely criticized for their duplicity.

    “The public is clear-eyed,” the spokesperson said. “People can tell right from wrong.”

    MIL OSI China News –

  • MIL-OSI USA: At Spotlight Forum, Cortez Masto Highlights Struggles Small Businesses Face Due to Trump Tariffs

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

     ***VIDEO AVAILABLE***

    FTPs for TV stations is available here.

    Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Ben Ray Luján (D-N.M.) hosted a Spotlight Forum titled “Costs, Chaos, Corruption: The Household Impact of Trump’s Tariffs” to examine how President Trump’s tariff policies fuel economic instability, raise costs on working families, and harm the travel and tourism sector. During the forum, Cortez Masto asked small business owners to describe the impacts of the tariffs on their individual businesses.

    Senator Cortez Masto highlighted the concerns she has heard while traveling across Nevada – the effects on tourism, the rising costs for families, and the squeeze that small businesses across the state are feeling. 

    “Let me ask you, because I think…some of this is also getting lost, not only the additional costs that you are incurring because of these tariffs [but] the additional opportunities,” she said to Preston Martin, CEO of Bicycle Technologies International who was planning to open a 29,000 square foot warehouse in Reno and had to cancel the contract because of additional costs brought on by tariffs. “What we also are missing out on here are the jobs that are created, the opportunity to put people to work. Mr. Martin, if you were able to open that warehouse in Reno, how many people would you have employed in Nevada?” she asked.

    Martin confirmed in his response that he would have been able to increase his workforce in Nevada by 50 percent.

    “Our policies should be congressionally-driven in the sense that we want to grow this economy and create jobs,” the Senator continued. “And the policies are just the opposite…People want a good life. They want less stress. They want to be able to work. They want a good economy. They want everybody to thrive. And that’s where our policies should be, but this [trade] policy is not there.”

    Senator Cortez Masto has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families and Nevada small businesses. Last week, Cortez Masto led the Nevada delegation in a letter to President Donald Trump urging him to reverse his blanket tariffs that have had harmful impacts on Nevada. During a Senate Finance Committee hearing, Cortez Masto pressed U.S. Trade Representative Greer about the impacts of President Trump’s blanket tariffs on Nevadans, particularly those employed in the tourism and hospitality industry. The Senator introduced the Tariff Transparency Act to require the U.S. International Trade Commission to publicly investigate how Donald Trump’s recent tariffs on imports from Mexico and Canada will impact the American people.

    MIL OSI USA News –

  • MIL-Evening Report: Why are sunsets so pretty in winter? There’s a simple explanation

    Source: The Conversation (Au and NZ) – By Chloe Wilkins, Associate Lecturer and PhD Candidate, Solar Physics, University of Newcastle

    nelo2309/Shutterstock

    If you live in the southern hemisphere and have been stopped in your tracks by a recent sunset, you may have noticed they seem more vibrant lately. The colours are brighter and bolder, and they linger longer in the sky.

    Why are sunsets “better” at some times of the year compared to others? We can use science to explain this.

    There are many ingredients for a “good” sunset, but the main three are clear skies, low humidity, and the Sun sitting low in the sky.

    In winter, sunsets sometimes look much more vivid that in summer – and yes, temperature plays a role.
    Jeremy Bishop/Unsplash

    From light to colour

    To understand why we get such vibrant sunsets in the colder months of the year, we first need to know how colours appear in the sky.

    All visible light is actually energy that travels in waves; the length of those waves determines the colour that our eyes see.

    Although sunlight might look white to us, it’s actually a mix of different wavelengths of light that make up all the visible colours – from fiery reds and oranges (longer wavelengths) to deep blues and purples (shorter wavelengths).

    The wavelength of light determines the colour we see. At shorter wavelengths, the colours are purple and blue, while at longer wavelengths they are red and orange.
    DrSciComm/Wikimedia Commons, CC BY-SA

    These individual colours become visible when sunlight is “scattered”, which is precisely what happens when it passes through the invisible gas molecules in Earth’s atmosphere – mostly nitrogen and oxygen.

    When sunlight hits these molecules, it’s absorbed and shot back out (scattered) in different directions. Blue and violet light is scattered more strongly than red and orange light – this is also why the sky looks blue during the day.

    The path of the Sun

    In the middle of the day when the Sun is high in the sky, sunlight travels a more direct path through the atmosphere.

    The path of the Sun’s light through the atmosphere is longer at sunset than it is at noon.
    The Conversation

    But when the Sun is closer to the horizon, the path is less direct. This means that during sunrises and sunsets, sunlight travels through more of Earth’s atmosphere. And more atmosphere means more scattering.

    In fact, during sunsets, the blue and violet light encounters so many oxygen and nitrogen molecules that it is completely scattered away. What we’re left with is the longer wavelengths of light – the reds and oranges. In other words, more atmosphere means more fiery sunsets.

    But why are sunsets especially magnificent during winter? One reason is the Sun’s position in the sky during different times of the year.

    The Sun travels a longer and higher path in the sky in summer compared to winter. This affects the duration of sunsets.
    The Conversation, Shutterstock

    Earth rotates on its axis every 24 hours, giving us day and night. But this axis isn’t perfectly “upright” relative to the Sun – it’s tilted at an angle of about 23.5 degrees. This tilt is why we have seasons. The southern hemisphere is tilted towards the Sun around the start and end of the calendar year (southern summer), and away from the Sun around the middle of the year (southern winter).

    Because of this tilt, the Sun sits lower in the sky during winter, which is why the days are shorter. And because the Sun sits lower, it spends more time near the horizon as it rises and sets. That’s why winter sunsets often seem to last longer.

    Earth has seasons because its axis is tilted. The axis always points in the same direction as our planet orbits the Sun.
    Bureau of Meteorology

    The quality of the air

    Humidity and air quality also play a big role when it comes to vibrant winter sunsets.

    In winter, humidity is typically much lower than in the warmer summer months, meaning there’s less moisture in the air. Humid air often contains tiny water droplets, which can scatter incoming sunlight. This scattering is slightly different to how the oxygen and nitrogen molecules scatter light – here, even red and orange light can be affected.

    When humidity is high, the extra scattering by these small water droplets can cause sunsets to appear softer or more washed out.

    Even on a clear summer’s night, the sunset will appear more muted if the air humidity is high.
    Doug Bagg/Unsplash

    In drier winter air, with fewer of these water droplets in the way, sunlight can travel through the atmosphere with less interference. This means the colours can shine through more vividly, making for crisper and more vibrant sunsets.

    If you’re looking to a catch a spectacular sunset, you’ll want to wait for a nice, clear winter’s evening. Cloud cover and air pollution can block the sunlight and mute the colours we see.

    So the next time you find yourself wrapped up in a warm jumper at dusk, be sure to look up – there could be a spectacular light show playing out just above you.

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

    – ref. Why are sunsets so pretty in winter? There’s a simple explanation – https://theconversation.com/why-are-sunsets-so-pretty-in-winter-theres-a-simple-explanation-258192

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Why are sunsets so pretty in winter? There’s a simple explanation

    Source: The Conversation – Global Perspectives – By Chloe Wilkins, Associate Lecturer and PhD Candidate, Solar Physics, University of Newcastle

    nelo2309/Shutterstock

    If you live in the southern hemisphere and have been stopped in your tracks by a recent sunset, you may have noticed they seem more vibrant lately. The colours are brighter and bolder, and they linger longer in the sky.

    Why are sunsets “better” at some times of the year compared to others? We can use science to explain this.

    There are many ingredients for a “good” sunset, but the main three are clear skies, low humidity, and the Sun sitting low in the sky.

    In winter, sunsets sometimes look much more vivid that in summer – and yes, temperature plays a role.
    Jeremy Bishop/Unsplash

    From light to colour

    To understand why we get such vibrant sunsets in the colder months of the year, we first need to know how colours appear in the sky.

    All visible light is actually energy that travels in waves; the length of those waves determines the colour that our eyes see.

    Although sunlight might look white to us, it’s actually a mix of different wavelengths of light that make up all the visible colours – from fiery reds and oranges (longer wavelengths) to deep blues and purples (shorter wavelengths).

    The wavelength of light determines the colour we see. At shorter wavelengths, the colours are purple and blue, while at longer wavelengths they are red and orange.
    DrSciComm/Wikimedia Commons, CC BY-SA

    These individual colours become visible when sunlight is “scattered”, which is precisely what happens when it passes through the invisible gas molecules in Earth’s atmosphere – mostly nitrogen and oxygen.

    When sunlight hits these molecules, it’s absorbed and shot back out (scattered) in different directions. Blue and violet light is scattered more strongly than red and orange light – this is also why the sky looks blue during the day.

    The path of the Sun

    In the middle of the day when the Sun is high in the sky, sunlight travels a more direct path through the atmosphere.

    The path of the Sun’s light through the atmosphere is longer at sunset than it is at noon.
    The Conversation

    But when the Sun is closer to the horizon, the path is less direct. This means that during sunrises and sunsets, sunlight travels through more of Earth’s atmosphere. And more atmosphere means more scattering.

    In fact, during sunsets, the blue and violet light encounters so many oxygen and nitrogen molecules that it is completely scattered away. What we’re left with is the longer wavelengths of light – the reds and oranges. In other words, more atmosphere means more fiery sunsets.

    But why are sunsets especially magnificent during winter? One reason is the Sun’s position in the sky during different times of the year.

    The Sun travels a longer and higher path in the sky in summer compared to winter. This affects the duration of sunsets.
    The Conversation, Shutterstock

    Earth rotates on its axis every 24 hours, giving us day and night. But this axis isn’t perfectly “upright” relative to the Sun – it’s tilted at an angle of about 23.5 degrees. This tilt is why we have seasons. The southern hemisphere is tilted towards the Sun around the start and end of the calendar year (southern summer), and away from the Sun around the middle of the year (southern winter).

    Because of this tilt, the Sun sits lower in the sky during winter, which is why the days are shorter. And because the Sun sits lower, it spends more time near the horizon as it rises and sets. That’s why winter sunsets often seem to last longer.

    Earth has seasons because its axis is tilted. The axis always points in the same direction as our planet orbits the Sun.
    Bureau of Meteorology

    The quality of the air

    Humidity and air quality also play a big role when it comes to vibrant winter sunsets.

    In winter, humidity is typically much lower than in the warmer summer months, meaning there’s less moisture in the air. Humid air often contains tiny water droplets, which can scatter incoming sunlight. This scattering is slightly different to how the oxygen and nitrogen molecules scatter light – here, even red and orange light can be affected.

    When humidity is high, the extra scattering by these small water droplets can cause sunsets to appear softer or more washed out.

    Even on a clear summer’s night, the sunset will appear more muted if the air humidity is high.
    Doug Bagg/Unsplash

    In drier winter air, with fewer of these water droplets in the way, sunlight can travel through the atmosphere with less interference. This means the colours can shine through more vividly, making for crisper and more vibrant sunsets.

    If you’re looking to a catch a spectacular sunset, you’ll want to wait for a nice, clear winter’s evening. Cloud cover and air pollution can block the sunlight and mute the colours we see.

    So the next time you find yourself wrapped up in a warm jumper at dusk, be sure to look up – there could be a spectacular light show playing out just above you.

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

    – ref. Why are sunsets so pretty in winter? There’s a simple explanation – https://theconversation.com/why-are-sunsets-so-pretty-in-winter-theres-a-simple-explanation-258192

    MIL OSI – Global Reports –