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Category: Business

  • MIL-OSI Security: Southfield Doctor Convicted of Fraudulently Obtaining $1.7M PPP Loan

    Source: Office of United States Attorneys

    DETROIT – On May 29, 2025, a federal jury convicted Dr. Reginald Eburuche of Southfield of bank fraud, United States Attorney Jerome F. Gorgon Jr. announced.

    Gorgon was joined in the announcement by Special Agent in Charge Cheyvoryea Gibson, Federal Bureau of Investigation, Detroit Division.

    Dr. Eburuche was found guilty of fraudulently obtaining a Paycheck Protection Program (PPP) loan in July 2020, in the midst of the Covid-19 pandemic, for his start-up business Renovis Healthcare.  According to evidence presented at trial, after being unsuccessful in obtaining a line of credit for this new business venture in 2019, Eburuche looked to the PPP program as a source of potential seed-funding—$1.7M at 1% interest.  In order to get that money though, he grossly inflated the number of employees and the average monthly payroll for his fledgling company.  In support of his application, he also created and uploaded fraudulent tax documents, meant to make it appear as though his stated headcount and salary expenditures were legitimate.  A large portion of the funds were frozen and seized in advance of trial.

    “When a licensed professional choses fraud over integrity, the harm runs deeper than dollars,” said U.S. Attorney Gorgon. “Dr. Eburuche stole money meant to keep workers afloat during a time of crisis. This Office will continue to pursue those who exploited these programs for personal gain.”

    “Dr. Reginald Eburuche’s conviction for Bank Fraud represents not only an abuse of taxpayer dollars but a betrayal of public trust during a time of national hardship,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI Detroit Field Office. “I commend the dedicated efforts of our Oakland County Resident Agency members and the U.S. Attorney’s Office for the Eastern District of Michigan, whose contributions were vital in concluding this case. We remain fully committed to collaborating with our community and law enforcement allies to identify, investigate, and bring to justice those who exploit government relief programs for personal financial gain.”

    This case was prosecuted by Assistant United States Attorney Carl Gilmer-Hill and was investigated by special agents from the Federal Bureau of Investigation.  The United States Attorney’s Office also thanks the Small Business Administration and the Treasury Inspector General for Tax Administration for their support.

    MIL Security OSI –

  • MIL-OSI Global: Investors are calling Trump a chicken – here’s why that matters

    Source: The Conversation – UK – By Alex Dryden, PhD Student in Economics, Department of Economics, SOAS, University of London

    Calling someone “chicken” might sound like a playground insult, but it’s exactly the label some financial investors have begun attaching to US president Donald Trump. The “Taco” trade, short for “Trump Always Chickens Out”, has gained traction in financial circles in recent weeks, as investors come to believe that whenever markets begin to slide as a result of one of his policy decisions, Trump tends to retreat.

    The jibe appears to have struck a nerve. When a reporter asked him about the “chicken” reputation this week, Trump bristled. “Oh isn’t that nice – I chicken out. I’ve never heard that,” he snapped. The president returned to the topic later to criticise the “nasty” question and insisted that he was no such thing.

    Policy reversals have been a hallmark of both Trump’s first and second terms. During the 2018-19 trade wars, he frequently threatened sweeping tariffs only to water them down in subsequent rounds of negotiation.

    A similar pattern has emerged this year. In early April, Trump’s “liberation day” announcement triggered a sharp sell-off, with the S&P 500 falling more than 12% over the following week.

    However, as market volatility surged, the administration softened its positioned and opted to delay the tariffs for 90 days. As the tariff plans were softened, markets rebounded. The index is now 4% higher than it was before the announcement and up 0.7% year-to-date.

    To the president’s supporters, these policy U-turns reflect his shrewd negotiating tactics designed to extract concessions or cajole reluctant governments into striking trade deals. But to many investors, the pattern looks less like strategy and more like retreat. And while the Taco nickname might sound like a playground insult, for financial investors the jibe has a real impact on navigating financial markets.

    Credibility is currency

    When investors call a politician or policymaker a “chicken”, it’s not just a jab at their courage. It’s a much more serious insult that calls into question their credibility. And in financial markets, that’s one of the most valuable assets a leader can have.

    As a policymaker or politician, communicating successfully with markets depends on trust. Investors allocate capital based on expectations about the future – inflation, trade flows, interest rates, fiscal spending – and those expectations are influenced not only by what policymakers do, but by what they say.

    If a leader regularly threatens sweeping economic action but repeatedly backs down at the first sign of trouble, their credibility begins to erode.

    Once that doubt takes hold, it changes the dynamic. Investors begin to ignore warnings as threats are brushed off and policymakers’ influence loses its force.

    The erosion of a leader’s credibility among investors is likely initially to dampen market volatility as investors begin to ignore the words of politicians and policymakers. They assume that the status quo will remain in place as a leader is unwilling or unable to instigate the changes they had initially proposed, leading to little change in financial markets. This weakens a leader’s ability to steer market expectations and, by extension, the broader economy.

    However, the Taco mindset could be dangerous if it takes hold in markets. Once investors start to assume that Trump will always blink, they build their portfolios around that expectation. Talk of sweeping economic changes or significant increases in tariffs begin to be ignored as investors lean into risky positions in the belief that escalation will be avoided at the last minute. This can create a false sense of calm that holds only as long as Trump plays to type.

    ‘It’s called negotiating.’ Trump was clearly angered by the chicken jibe.

    But the “chicken” jibe has clearly angered the president. He may well be looking for an opportunity to change investors’ minds. If Trump decides to hold the line by pushing through tariffs without compromise even in the face of legal action, or let a standoff over the US debt ceiling run hot, this could catch complacent investors off-guard.

    The resulting repricing is likely to be sharp and disorderly. Volatility could spike, not because Trump changed, but because investors assumed he never would and then overreact when he does. In that sense, the real risk of the Taco mindset isn’t that it insults Trump – it’s that it provokes a stubborn response. A president who digs his heels in and ploughs ahead with risky policies despite all the warning signs would be bad news for the whole world – and the global economy.

    Alex Dryden 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. Investors are calling Trump a chicken – here’s why that matters – https://theconversation.com/investors-are-calling-trump-a-chicken-heres-why-that-matters-257926

    MIL OSI – Global Reports –

  • MIL-OSI Global: Kyiv’s allies have lifted restrictions on Ukraine attacking targets inside Russia – here’s what that means for the war

    Source: The Conversation – UK – By Matthew Powell, Teaching Fellow in Strategic and Air Power Studies, University of Portsmouth

    The frontlines in the Russo-Ukrainian conflict have largely been bogged down, with little significant movement on either side. It was reported recently that Russian troops had only advanced about 25 miles in the eastern sector near Donetsk in one year, at a huge cost in terms of casualties. As a result, both sides have sought different ways of trying to gain a strategic advantage over their opponent.

    Air power has long been a recognised way of restoring a degree of mobility to the battlefield. But in Ukraine, neither side has been able to achieve control of the air, thanks to the quality of their air defences. So instead, both sides are using drones for “tactical” (small-scale) effect.

    At this point, it’s worth focusing on the three levels of warfare: tactical, operational and strategic. The chart below, taken from the US Military Review, illustrates how these levels work – operating as a “distinct hierarchy with marginally overlapping areas between the strategic and the operational, and between the tactical and the operational”.

    The three levels of war: tactical, operational and strategic.
    Army University Press

    The tactical level is where small actions are planned and executed. At the operational level, major operations and campaigns are planned with a view to achieving strategic objectives. The strategic level involves longer-term ways to achieve the overarching political objectives of a conflict.

    Russia’s ability to deploy long-range missiles and longer-range drones (such as the Shahed 136) that can strike targets – both military and civilian – deep inside Ukraine, has given it a strategic advantage.

    There are two strategic aims to these strikes. The first is to reduce Ukraine’s capacity to produce military equipment through its domestic industrial base. The second is to target urban areas and civilian populations to undermine public morale – although how effective this is has long been a matter for debate.

    Advantage Russia

    The prohibition on Ukraine using weapons supplied by its allies to strike targets in Russia has put it at a considerable disadvantage – meaning that Ukraine’s military has been unable to exploit these weapons’ full potential. So, Russia has been able to build a considerable military/industrial base without threat of attack.

    But now, the decision to lift these restrictions by the UK, US and, most recently, Germany will allow Ukraine to attack a wider range of targets and create more strategic difficulties for Russian political and military leadership.

    In particular, it’s worth highlighting the recent statement by the German chancellor, Friedrich Merz, who announced on May 28 that Berlin would help Kyiv develop new long-range weapons that can hit targets in Russian territory.

    To what extent Ukraine will be able to exploit this greater latitude to attack targets inside Russia remains to be seen. But the prospect of long-range missiles being used against its cities – the German Taurus missiles have a range of more than 500km – could give Ukraine a degree of leverage in any fresh peace talks.

    The lifting of these restrictions is unlikely to make much difference on the ground for some time, though. While theoretically, Ukraine will be able to strike at some of Russia’s military production sites, Russia has dramatically overhauled its arms production capacity. Nato’s top US commander is reported to have recently told a Senate Armed Services Committee that Russia is “on track to build a stockpile three times greater than the United States and Europe combined”.

    No restrictions – for now

    It’s also worth noting that both the US and UK signalled their willingness to allow their long-range missiles to strike at missile launchers inside Russia late last year as a defensive measure – but on a limited scale and only using domestically produced weapons, in contrast to the attacks conducted by Russia.

    What is different in the most recent announcement is the lifting of restrictions on what can be targeted with weapons provided by western allies, rather than those domestically produced by the Ukrainian defence industry. This is an extension of an initial lifting of restrictions in late 2024
     by the US and UK, further broadening the targets that can be attacked.

    But the relaxation of these restrictions could be reversed very quickly if Ukraine launches large-scale strikes against civilian populations – which could generate highly adverse publicity for Ukraine and the countries that supplied the weapons.

    Russia’s targeting of Kyiv in recent weeks has been bitterly criticised by the US president, Donald Trump, who posted on his TruthSocial website recently: “[Vladimir Putin] has gone absolutely crazy. Needlessly killing a lot of people.”

    But Kyiv’s allies will also be wary of how Russia may react. Russia has always threatened dire consequences if Ukraine uses western-supplied weapons to launch attacks within Russia.

    Indeed, the political ramifications of the lifting of restrictions are likely to be more consequential than the military outcomes – for now, at least.

    Matthew Powell 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. Kyiv’s allies have lifted restrictions on Ukraine attacking targets inside Russia – here’s what that means for the war – https://theconversation.com/kyivs-allies-have-lifted-restrictions-on-ukraine-attacking-targets-inside-russia-heres-what-that-means-for-the-war-257841

    MIL OSI – Global Reports –

  • MIL-OSI Russia: /Economic Review/ China’s manufacturing activity continues to improve as market expectations strengthen

    Translation. Region: Russian Federal

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

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

    BEIJING, May 31 (Xinhua) — Business activity in China’s manufacturing sector continued to show signs of improvement in May, amid faster production and stronger market expectations, official data showed Saturday.

    In May 2025, China’s manufacturing purchasing managers’ index (PMI) was 49.5, up 0.5 percentage points from the previous month, according to data released by the National Bureau of Statistics (NBS) on Saturday. A PMI above 50 indicates expansion in the manufacturing sector, while one below 50 indicates contraction.

    NBS statistician Zhao Qinghe said the improvement reflects faster production and more positive business expectations.

    The production sub-index rose to 50.7, up 0.9 from the previous month, indicating a stronger pace of industrial production, the data showed. The new orders index also rose 0.6 to 49.8.

    It is noteworthy that the business activity index at large enterprises returned to the growth range and amounted to 50.7, which is 1.5 higher than the April figure and indicates an improvement in the business environment at large enterprises.

    High-tech manufacturing continued to expand for the fourth month in a row, reaching 50.9, while the equipment manufacturing and consumer goods sub-indices rose to 51.2 and 50.2, respectively.

    Market expectations also improved during the reporting period. The index of expectations for production and business activity rose to 52.5, up 0.4 from the previous month, indicating that industry enterprises generally remain confident about the market development in the near term, Zhao Qinghe said.

    The continued recovery in the manufacturing PMI suggests that the combined effect of more positive macroeconomic policy measures is beginning to emerge, as well as improved business expectations and signs of recovery in manufacturing activity, analysts said.

    Data released on Saturday also showed that China’s non-manufacturing PMI stood at 50.3 in May, down 0.1 percentage point from the previous month but still broadly on track for growth.

    The service sector maintained a steady momentum, helped by tourism and catering during the May Day holidays, Zhao Qinghe said.

    According to Wen Tao, an analyst with the China Logistics Information Center, efforts will need to be made in the future to stimulate domestic demand and promote high-level external opening-up to expand new growth in external demand, thereby strengthening the country’s economic resilience and enhancing its ability to withstand risks. -0-

    MIL OSI Russia News –

  • MIL-OSI Video: App Teaching Future Skills & Medical Research Gender Gap | WEF | Top Stories Week

    Source: World Economic Forum (video statements)

    This week’s top stories of the week include:

    0:14 – Want your shrimp healthy and antibiotic-free? This start-up has a solution to help shrimp farmers identify diseases early so they can cure their shrimp without overusing antibiotics.

    1:58 – This app uses games to teach young people the skills they need for the future. Goodwall has helped more than 3 million people in 150 countries through gamified challenges, allowing users to sharpen their skills in AI, problem-solving and communication to prepare for success in the rapidly changing world of work.

    4:56 – Too calm for catastrophe: there’s a problem with climate data, say experts. This phenomenon is called ‘shifting baseline syndrome’ or ‘the boiling frog’. Experts say it reduces public pressure for climate action because the slow pace of change obscures the urgency of the crisis.

    6:47 – What if your medicine was never tested on someone like you. There is a gender disparity in medical research. This leaves millions of women facing health decisions without evidence-based options. Here are 5 ways policy-makers can start to close these gaps.

    _____________________________________________

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

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

    #WorldEconomicForum

    https://www.youtube.com/watch?v=EAJt4vHQEnU

    MIL OSI Video –

  • Providing service to taxpayers is duty of tax officials: FM Sitharaman

    Source: Government of India

    Source: Government of India (4)

    Union Finance Minister Nirmala Sitharaman on Saturday emphasized that it is the duty of tax department officials to serve taxpayers, and that this responsibility must be carried out with “transparency and integrity.”

    “To provide service to the taxpayer is our duty. While serving taxpayers, transparency and integrity are crucial in earning their trust and confidence. I am confident that the Board and the field formations will remain sensitive and responsive,” the Finance Minister stated on the social media platform X.

    Her statement came in response to a detailed explanation issued by the Central Board of Indirect Taxes and Customs (CBIC) regarding a business entity that had applied for GST registration.

    The applicant had complained about a delay in the processing of the application. However, the CBIC provided details showing that the delay was due to the applicant’s failure to respond to a specific query concerning the designation of the person who had signed on behalf of the company.

    Referring to the case of Vinod Gupta, who raised the issue on LinkedIn, the CBIC clarified on X: “The application was filed this week on 26th May (Monday) and was assigned to Delhi State GST. The Central GST authorities had no role in this matter.”

    According to the Delhi State GST authorities, the application was processed immediately, and a query was raised regarding the missing designation of the person who signed the rent agreement on behalf of the company. At this stage, the ARN (Application Reference Number) was pending a reply from the taxpayer, and the taxpayer had been duly informed, the statement added.

    The application will be processed by the Delhi GST authorities upon receipt of the pending information, the CBIC clarified.

    The CBIC also urged the applicant to refrain from spreading incorrect information on social media without verifying the facts.

    IANS

  • MIL-OSI Economics: Jana Merunková receives the CNB Governor’s Award

    Source: Czech National Bank

    Jana Merunková is the winner of the third round of the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy. The Governor of the Czech National Bank Aleš Michl presented the award to her on Saturday, 31 May, during a ceremony held at the CNB’s Visitor Centre in Prague.

    The aim of the award is to highlight the importance of financial and economic literacy across all age groups. In this way, the CNB annually recognises and supports individuals who, with exceptional commitment, have long been engaged in raising awareness in this area and whose projects help promote greater financial responsibility among the public.

    “Financial literacy is not a theory – it’s a life skill. It helps people avoid debt, navigate contracts and plan for the future. At the CNB, we want money to be explained in plain language. A big thank you to those who put in the time and energy to do this. That’s one of the reasons this award was created,” said CNB Governor Aleš Michl.

    As in previous years, the public was involved in selecting the winner and could nominate candidates using an online form on the CNB website until 28 March. A total of 30 individuals received public support in this way. The final decision on the award was made by the Governor of the CNB at the recommendation of an advisory team.

    Jana Merunková has worked in the field of financial and economic literacy for more than fifteen years. After a successful business career, in 2009 she became the expert guarantor of the projects run by non-profit organisation yourchance o.p.s., which focuses on teaching financial literacy and fostering entrepreneurship among children, young people and socially disadvantaged groups. She has also been an active member of expert working groups at the Ministry of Finance and the Ministry of Education, Youth and Sports since 2013.

    “This award from the Governor is a strong affirmation that my work is meaningful. At the same time, I see it as an incentive to keep going, as there is still much to be done – whether we are talking about improving the practical grasp of financial literacy in schools or nurturing such skills across generations and other target groups,” added Jana Merunková upon receiving the award.

    The award ceremony for the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy took place on 31 May 2025 at the CNB Visitor Centre, which plays a key role in the central bank’s educational activities. The centre offers free exhibitions and programmes focusing on the world of money, the economy and monetary policy. Tens of thousands of people visit the centre every year, with primary and secondary school pupils making up roughly half of all visitors.

    Announcement of the fourth round of the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy

    The third round of the CNB Governor’s Award has its winner. Who will become the winner of the fourth round in 2026? Once again, the public can actively take part in the selection process by using the nomination form on the CNB’s website to highlight individuals who have long been dedicated to advancing financial and economic literacy. Nominations may be submitted until 28 March 2026. The winner will be selected by the CNB Governor at the recommendation of his advisory team.

    Jaroslav Krejčí
    CNB spokesperson

    MIL OSI Economics –

  • MIL-OSI: Online Crypto Casinos: All iGaming Reveals the Top Sites for Crypto Gamblers in 2025

    Source: GlobeNewswire (MIL-OSI)

    Jersey City, NJ, May 31, 2025 (GLOBE NEWSWIRE) —  – These days, the internet is flooded with crypto casinos all claiming to offer the best games, biggest bonuses, and fastest payouts. But finding a truly reputable crypto casino isn’t about luck- it’s about knowing where to look. All iGaming, a respected name in online gambling reviews, has been guiding players since its founding, providing independent and expert insights into safe, licensed, and high-performing crypto casino platforms.

    FIND OUT THE BEST CRYPTO CASINOS – SAFE, FAIR, AND LICENSED

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    About All iGaming :

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    All iGaming is a free, independent comparison platform supported by affiliate partnerships. We may earn a commission if you sign up or deposit through our links, but our rankings are based on expert analysis and strict criteria. All featured best crypto casinos are licensed by reputable authorities. Gambling carries financial risk and can be addictive. Play responsibly. For support, visit GambleAware.org or GamCare.org.uk.

    Contact
    All iGaming
    https://all-igaming.com/ 
    support@alligaming.com
    18+ Only. Gambling carries risks. Play responsibly and check local laws.
    Brand website:https://all-igaming.com/
    Project Name: All iGaming
    Full company Address: Oceanview Street 12, Sunnyville, Atlantis
    Postal Code:7299
    Media Contact:
    Full Name -Max Fraser
    Company website:https://all-igaming.com/
    Email:support@alligaming.com

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    The MIL Network –

  • PM Modi unveils ₹300 coin honouring Ahilyabai Holkar

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Saturday unveiled a special ₹300 coin to commemorate the 300th birth anniversary of Lokmata Devi Ahilyabai Holkar, the revered 18th-century ruler of Malwa. The coin was released during the Women Empowerment Maha Sammelan at Jamboree Maidan in Bhopal.

    The commemorative coin, issued by the Union Ministry of Culture, bears an embossed image of Ahilyabai Holkar, paying tribute to her enduring legacy. An official gazette notification regarding the release of the special-edition coin was issued by the Ministry of Finance.

    Before unveiling the coin, Prime Minister Modi garlanded the statue of Devi Ahilyabai Holkar and paid his respects.

    As part of the celebrations, the Prime Minister also presented the Devi Ahilyabai Holkar Prize to Dr. Jaymati Kashyap from Bastar, Chhattisgarh. Dr. Kashyap was recognised for her work in preserving the Gondi language and rescuing women from human trafficking.

    Born on May 31, 1725, in Chondi, Maharashtra, Ahilyabai Holkar is remembered for her enlightened rule and progressive social reforms. After the untimely deaths of her husband and son, she assumed the throne of Indore in 1767 and governed for nearly three decades.

    During her reign, she promoted trade, restored temples, and advanced infrastructure projects, including the reconstruction of the Kashi Vishwanath Temple—efforts that earned her the title of the “Philosopher Queen of Malwa.”

    The event in Bhopal marked the culmination of ten days of commemorative activities held across Madhya Pradesh, celebrating her contributions to society.

    Addressing the large gathering, Madhya Pradesh Chief Minister Dr. Mohan Yadav reiterated his government’s commitment to women’s empowerment and inclusive development.

    Prime Minister Modi’s visit also marked his first public appearance in Bhopal following the success of ‘Operation Sindoor’, India’s recent military operation targeting cross-border terrorism.

    IANS

  • MIL-OSI Asia-Pac: Treasury chief joins tech mega event

    Source: Hong Kong Information Services

    Secretary for Financial Services & the Treasury Christopher Hui attended the Web Summit Vancouver yesterday in Vancouver, Canada, and appealed to technology investors and leaders to grasp the vast business opportunities in the vibrant fintech ecosystem in Hong Kong.

    The summit, a mega event for the tech sector, attracts over 10,000 tech investors, entrepreneurs and industry leaders across the world each time it is hosted. This is the first time the summit has been held in Vancouver.

    Mr Hui engaged in a panel discussion session titled “Local to global: Strategies for tech success”, which was joined by Minister of Jobs, Economic Development & Innovation of the Province of British Columbia, Canada Diana Gibson. They had an illuminating discussion on the various approaches taken in building dynamic fintech economies, ranging from developing talent, attracting investment to creating opportunities.

    The treasury chief noted that Hong Kong is striving to accelerate green and sustainable finance and virtual asset development, with a view to making them key components of the diversified financial value chain. The Monetary Authority has already commenced sandbox experimentation of Project Ensemble, which is a new wholesale central bank digital currency project to support the development of the tokenisation market in Hong Kong.

    Mr Hui also updated the summit on the latest passage of legislation last week establishing a licensing regime for fiat-referenced stablecoins issuers in Hong Kong, as a way to further enhance the city’s regulatory framework on virtual asset activities for supporting the healthy, responsible and sustainable development of its stablecoin and the broader digital asset ecosystem.

    Hong Kong is among the first batch of regions to have introduced stablecoin legislation and strives to fully implement the licensing regime within this year, with a view to approving the first batch of licences as soon as practicable.

    Looking forward, Hong Kong will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets. A consultation on the licensing regimes for virtual asset over-the-counter trading services and custodian services will also be conducted within this year.

    Whie attending the summit, Mr Hui visited exhibition booths manned by Hong Kong delegates. He was pleased to learn that the Hong Kong delegates received encouraging feedback over the past few days, reflecting the world-class standard of Hong Kong fintech talent and their appeal to investors.

    In the afternoon, Mr Hui paid a courtesy call on Consul General of the People’s Republic of China in Vancouver Yang Shu. Mr Yang said Hong Kong has always been a window of the country to the world and will continue to be. He encouraged Hong Kong to keep up with its work in deepening international exchanges and co-operation.

    Before concluding his visit to Canada, Mr Hui visited Bank of Montreal and met its Senior Vice President & Head, Mid-Market, Commercial Bank, Andrew Hung, and Senior Vice President & Head, BC & Yukon, Greg Vriend.

    He told them that in a world full of geopolitical uncertainties, Hong Kong’s financial market is emerging as a risk-off haven for investors and attracting more investments owing to its connectivity with the Mainland and the world at large, bringing greater prospects for the banking sector and different financial areas.

    Mr Hui will return to Hong Kong in the early hours of May 31.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: China’s SMEs Get More Credit Support in Q1

    Translation. Region: Russian Federal

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

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

    BEIJING, May 31 (Xinhua) — Technology-oriented small and medium enterprises (SMEs) in China received increased credit support in the first quarter of this year, data from the People’s Bank of China (PBOC, the central bank) showed Friday.

    By the end of the first quarter, 49.6 percent of technology SMEs received loans, which is 3.6 percentage points more than in the same period last year, according to the NBC report.

    The balance of outstanding loans to technology-oriented SMEs in local and foreign currencies amounted to 3.33 trillion yuan (US$463 billion), up 24 percent year on year. This figure outpaced the overall growth of lending by 17.1 percentage points.

    The report also shows an increase in credit support for high-tech companies: the balance of outstanding loans to these companies in local and foreign currencies increased by 8.5 percent year-on-year, which is 1.6 percentage points higher than the overall rate of credit growth.

    By the end of the first quarter, the volume of green loans issued in local and foreign currencies reached 40.61 trillion yuan, up 9.6 percent from the beginning of this year, the report said.

    Real estate lending has stabilized, with outstanding real estate loans in yuan reaching 53.54 trillion yuan by the end of the first quarter, up 0.04 percent year-on-year, while real estate development loans reached 13.87 trillion yuan, up 0.8 percent year-on-year. -0-

    MIL OSI Russia News –

  • MIL-OSI: WithSecure has completed the transaction of Cyber security consulting divestment to Neqst

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Stock Exchange Release, 31 May 2025 at 9:45 EEST

    WithSecure has completed the transaction of Cyber security consulting divestment to Neqst

    WithSecure announced on 23 January 2025 its intention to divest the cyber security consulting business to Neqst, Swedish investment company.

    On 31 May 2025, the parties completed the transaction in accordance with the sale and purchase agreement. EUR 13.5 million, corresponding to 60 % of the agreed enterprise value of EUR 22.5 million, deducted by the transferring net assets of the business, is paid in cash by the buyer. The remaining 40 % is variable purchase price, based on the performance of the business in 2025 and 2026, and it becomes payable in two installments in the beginning of 2026 and 2027.

    All closing conditions of the transaction have been fulfilled.

    With the transaction, approximately 230 employees located in Finland, UK, Sweden, Denmark, Singapore, Italy, and US will transfer to the buyer.

    “I wish our former colleagues and their new company the best of luck in the future. As for WithSecure, the consulting divestment allows us to fully focus on our Elements strategy of becoming the flagship of European cybersecurity”, states Antti Koskela, President and CEO of WithSecure.

    Contact information:

    Laura Viita
    VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    The MIL Network –

  • MIL-OSI Global: US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system?

    Source: The Conversation – Indonesia – By Farhan Mutaqin, PhD Researcher, University of Edinburgh

    The United States has recently called out Indonesia’s national digital payment system QRIS (Quick Response Code Indonesian Standard) for being unfair. The Office of the US Trade Representative (USTR) assessed QRIS as a trade barrier in its the National Trade Estimate Report 2025. The report – which includes broader trade concerns – underpins the Trump administration’s plan to impose 32% tariff duty for Indonesian products as of July 2025.

    QRIS synchronises Indonesia’s electronic money payments, digital wallets, and mobile banking into one national standard system. By scanning a QR code, payment takes only a matter of seconds, allowing a swift cashless transaction compared to using cards.

    USTR report criticises how QRIS implementation limits access for international stakeholders — particularly US companies — and creates an imbalance in Indonesia’s digital payments market.

    The report also cites Indonesia’s National Payment Gateway (GPN) as less transparent and limits foreign ownership. The card, which is for domestic use only, eases administrative financial burdens, encourages cashless payment and facilitate social disbursement of social assistance.

    Putting the trade assessment aside, QRIS helps small businesses and low-income groups in Indonesia to access modern payment facilities, closing the gap that Visa and Mastercard cannot provide. Throughout 2024, more than 30 million small businesses and merchants across Indonesia have made transactions via QRIS.

    Here are what readers need to know about QRIS and what may come for Indonesia after its labelling as a trade barrier.

    How significant is QRIS?

    QRIS transaction value and popularity have skyrocketed since the central bank, Bank Indonesia, introduced it to the market in August 2019, months away before COVID-19 entered Indonesia. Throughout 2024 QRIS has recorded 2.2 billion transactions with a total value of Rp 242 trillion (around US$14.9 billion). This figure increased by 188% compared to the previous year.

    In the first quarter of 2025, Bank Indonesia’s latest report noted that QRIS transactions surged to 2.6 billion with a transaction value reaching Rp 262 trillion (US$16 billion).

    So, why does QRIS have such a huge reputation?

    Massive digital adoption and user convenience factors triggered its growth, contributing to financial inclusion and supporting the growth and productivity of the Indonesian economy.

    According to 2024 survey, the main reasons Indonesians use QRIS are its simplicity (49%) and transaction speed (42%). Promotion factors (33%) and the habit of not carrying cash (28%) also add to its appeal.

    Wide outlet coverage (23%) and perceived security (22%) are also factors causing QRIS to be increasingly in demand. This practicality and growing digital habits in Indonesia are the main drivers of QRIS adoption.

    From the merchant’s perspective, QRIS has advantages over card payments. The card system requires expensive EDC machines that cost Rp 3–5 million (US$180-310) per device.

    Meanwhile, the merchant can receive payments via QRIS with just a single printed QR code, without needing extra equipment. QRIS transaction fees are also much lower at around 0.3% of transactions (even 0% for micro merchants), compared to 2–3% on cards.

    QRIS is also compatible with all Indonesian and most of ASEAN countries e-wallets.

    According to the Indonesian Payment System Association QRIS has become “the king of digital payment” channels for local transactions. Meanwhile, Visa–Mastercard’s position remains dominant for cross-border payments.

    Risk of QRIS blocking

    The USTR claims developed without input from international stakeholders may serve as an empty accusation.

    Bank Indonesia designed QRIS to meet domestic needs while aligning with international standards like EMVCo standards carried by Europay, Mastercard, and Visa (EMV). The three global payment giants are also members of Indonesian Payment System Association and were involved in QRIS drafting process, accompanying the government and the central bank. Given how strictly regulated digital payment systems are, it’s hard to believe the US lacks information about QRIS.

    However, the label of “trade barriers” has already been attached by the US and could ruin Indonesia’s negotiation process with other countries.

    First, this issue could potentially hamper QRIS adoption in other countries. While Singapore, Malaysia, and Thailand have already facilitated QRIS into their national payment systems, further expansion into India and South Korea could be hampered by concerns about creating friction with Washington.

    Second, the classification of QRIS as a trade barrier could also hinder the expansion of Indonesian small businesses into overseas markets. In fact, this standard was designed so that micro and small business actors can speed up the transaction process, including cross-border transactions with foreign buyers.

    Advantage or disadvantage?

    Both. It brings opportunities and challenges. The impact of USTR claim for Indonesia will depend largely on its negotiating strategy in the coming terms.

    For now, the 32%-tariff sanction – affecting products from shoes, textiles, to nickel components – has been suspended until early July 2025. The two countries are continuing negotiations, including technical discussions on QRIS access since the US complaint aired.

    But Indonesia can turn the US protest into an opportunity. The threat of tariffs forced the two countries into a two-month negotiation window.

    Indonesia could trade off small adjustments to QRIS rules for larger rewards —such as lower tariffs on nickel products or new investment commitments from the US, especially in the fields of technology or the latest financial systems.

    At least, Bank Indonesia has stated that “If America is ready, we are ready,” – a nod for possibility to prepare clearer guidelines for both countries. Arranging such documents will benefit all parties, including foreign and local business.

    At last, Indonesia needs to share the success story of QRIS more widely. Currently, QRIS has served 56 million users, supports payments at more than 33 million outlets, and is seamlessly connected to several countries such as Malaysia, Singapore, and Thailand. This shows that the payment system is open, beneficial, and contributes to financial integration across countries and regions.

    QRIS’s rapid growth, along with how the US feels threatened by it, shows huge potential for Indonesia’s digital finance. This can actually contribute to its bargaining position in the international arena in this digital era.

    This article was originally published in Indonesian, translated into English with the help of machine translator and further edited by human editors.

    Para penulis tidak bekerja, menjadi konsultan, memiliki saham atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi di luar afiliasi akademis yang telah disebut di atas.

    – ref. US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system? – https://theconversation.com/us-labels-qris-a-trade-barrier-whats-next-for-indonesias-digital-payment-system-257616

    MIL OSI – Global Reports –

  • MIL-OSI Russia: China, SCO countries expand cooperation in artificial intelligence

    Translation. Region: Russian Federal

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

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

    TIANJIN, May 31 (Xinhua) — Ji Jiantao, a technician with Nongxin Technology (Tianjin) Co., Ltd., trains local farmers on how to use autonomous driving systems for agricultural machinery during the peak soybean planting season in Ussuriysk, Russia.

    “We are continuously increasing innovative developments in the field of smart agriculture and have already supplied dozens of sets of auto-navigation equipment to Russia,” said the company’s senior engineer Yan Bingxin at the China-SCO AI cooperation forum held on May 29 in Tianjin.

    The synergy of “AI plus agriculture” not only transforms the industry, but also reflects China’s contribution to the creation of global AI-based public goods. Xinhua learned that the forum, titled “Chinese Intelligence for the Benefit of the SCO,” has become an important platform for promoting the “Shanghai Spirit” and strengthening cooperation in new areas, aiming to deepen practical cooperation in AI development and governance.

    Artificial intelligence is a strategic technology that defines the new scientific and technological revolution. In recent years, China has made comprehensive and systematic progress in the innovative development of AI, forming a relatively complete industrial system in the field of AI.

    Cleaning robots with “computer vision,” heavy-duty robots for transporting wind turbine blades, digital systems for high-precision medical examinations – as a key participant in the SCO’s digital cooperation, China is promoting the implementation of AI solutions in the organization’s countries. Dozens of technology companies are demonstrating notable results.

    In one of the swimming pools in Kazakhstan, a cleaning robot with hybrid infrared-ultrasonic sensors, using AI algorithms, thoroughly cleans every corner of it. The robot is controlled via a mobile application.

    “Users monitor the cleaning process remotely,” explained Yu Guoxing, international sales manager at Deepinfar Ocean Technology Co., Ltd. According to him, the Kazakhstani distributor purchased 40 devices at one time, and the attractiveness of the products is actively expanding the customer base in Russia, Tajikistan and other countries.

    The “Plan for the Establishment of the China-SCO AI Applied Cooperation Center” was presented at the forum. The center will open its doors to all SCO member countries to ensure inclusive access to artificial intelligence technologies.

    The forum participants expressed their readiness to jointly expand cooperation in the field of applied solutions, develop the digital economy and deepen innovative interaction, directing “intellectual dividends” to ensure high-quality development.

    “Cooperation in the field of AI is one of the most dynamic areas of interaction in the SCO,” said Deputy Secretary General of the organization Oleg Kopylov. According to him, within the framework of the SCO, the interconnectedness of AI infrastructure will be strengthened, the technology ecosystem will be improved, industrial development will be synchronized, and academic exchanges will be deepened. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Shanghai’s exports up 13.8 pct in first four months of 2025

    Translation. Region: Russian Federal

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

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

    SHANGHAI, May 31 (Xinhua) — Shanghai’s export volume increased 13.8 percent year on year from January to April 2025, and its total foreign trade value hit a record high in April, data released by the Shanghai Municipal Customs showed.

    The city’s total foreign trade volume for the four months was 1.4 trillion yuan (about $194.7 billion), up 1 percent from a year earlier. In April alone, imports and exports reached 399.35 billion yuan, up more than 10 percent year-on-year and month-on-month. Exports in April rose 17.2 percent year-on-year, while imports rose 8.1 percent.

    Private enterprises were the key growth driver, accounting for more than 70 percent of Shanghai’s total foreign trade companies during the period. Their import and export volumes exceeded 500 billion yuan, up more than 20 percent year-on-year, indicating that domestic growth momentum is strengthening.

    During this period, Shanghai traded with more than 200 countries and regions around the world, achieving growth with 166 partners. Trade with countries participating in the Belt and Road Initiative reached nearly 600 billion yuan, up 11.9 percent year on year, while trade with countries in the Middle East and Eastern Europe increased by more than 20 percent.

    Machinery and electrical equipment exports totaled 398.8 billion yuan, accounting for more than 60 percent of the city’s total exports during the period. Meat and vegetable oil imports rose more than 10 percent year-on-year, while specialty foods such as Afghan nuts, Italian chocolate, Irish dairy products and Ethiopian coffee expanded the gastronomic choices for Chinese consumers. -0-

    MIL OSI Russia News –

  • India leads major presence at Sharjah’s premier jewellery exhibition

    Source: Government of India

    Source: Government of India (4)

    The 55th Watch and Jewellery Middle East Show opened in Sharjah, running through June 1, 2025, with India mounting a significant pavilion showcasing 11 companies as part of the region’s premier luxury accessories exhibition. Organized by Expo Centre Sharjah with support from the Sharjah Chamber of Commerce and Industry, the biannual event features over 500 local and international exhibitors representing major global companies in luxury gold jewellery, timepieces, and precious gemstones.

    India’s participation is coordinated by the Gem and Jewellery Export Promotion Council (GJEPC), which established a dedicated India Pavilion to highlight the country’s design excellence and craftsmanship. According to GJEPC Chairman Kirit Bhansali, “The Watch and Jewellery Show Middle East in Sharjah is a key platform to highlight India’s design excellence and craftsmanship to a vital trade partner. Our continued presence at the show through the India Pavilion reflects this market’s growing importance.”

    The UAE represents a vital trade partner, with gem and jewellery exports surging over 60 percent following the India-UAE Comprehensive Economic Partnership Agreement. Exports grew from $4.95 billion in fiscal year 2022 to $8.04 billion in fiscal year 2024, demonstrating the strategic importance of such partnerships.

    The exhibition attracts over 1,800 high-profile designers, manufacturers, and industry professionals from countries including Russia, Mexico, Tanzania, Egypt, India, Italy, the United Kingdom, the United States, Singapore, China, Japan, Saudi Arabia, Bahrain, and Lebanon. Visitor turnout is projected to exceed 80,000, with the timing coinciding with the Eid Al Adha holiday, further enhancing its appeal among jewellery enthusiasts.Among the exhibition’s highlights is a record-breaking 108-meter diamond necklace presented by Amaar Jewels, designed to enter the Guinness World Records.

    According to the World Gold Council, gold sales in the UAE totaled 23.4 tonnes valued at $1.8 billion in the first half of 2024, representing 17.3 percent of the Middle East’s total sales. These figures underscore the exhibition’s strategic role in advancing the regional gold and jewellery industry.

    Spanning 30,000 square meters, the exhibition serves as a platform for deals, partnerships, and insights into design trends. Specialized programs and workshops run alongside the main exhibition, offering participants opportunities to enhance their skills and knowledge about recent developments in the global jewelry industry.

    The show represents the largest and longest-running jewelry exhibition in the UAE and broader region, having grown from a handful of exhibitors when first launched in 1993 to become an indispensable part of the regional jewellery industry calendar.

  • MIL-OSI Russia: First duty-free shop in central China opens in Wuhan

    Translation. Region: Russian Federal

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

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

    WUHAN, May 31 (Xinhua) — The first duty-free shop in central China’s Hubei Province and the entire central China began trial operation in Wuhan on Friday, the Hubei Provincial Bureau of Commerce said.

    In August last year, five government departments, including the Ministry of Finance, jointly issued a statement that duty-free shops would be opened in the city limits of Wuhan, Guangzhou, Chengdu, Shenzhen, Tianjin, Xi’an, Changsha and Fuzhou.

    Previously, 6 similar stores have already opened in Beijing, Shanghai, Qingdao, Dalian, Xiamen and Sanya.

    According to local authorities, the Wuhan outlet was a natural result of the announcement of new policy measures.

    Located in a luxury mall in the heart of Wuhan, it saw more than 32 million customer visits last year and generated annual sales of 10 billion yuan (about $1.39 billion).

    The investor and operator of the duty-free shop is Wuhan Wangfujing Wushang Duty-free Goods Management Co., Ltd., a joint venture that has direct purchasing agreements with more than 100 international brands. These partnerships cover a variety of product categories, including perfumes and cosmetics, wines and food, digital electronics, luxury accessories, popular domestic cultural products, and coffee and tea.

    It is especially worth mentioning that this duty-free store, as part of the strategy of promoting fashion for domestic brands on the world market, also presents cultural creations from the imperial palace, the so-called “Wuhan gifts”, which are objects of intangible cultural heritage.

    “The opening of the duty-free shop in downtown Wuhan marks a new stage in the development of cities on the Chinese mainland,” said an official from the provincial department of commerce, adding that once the project is launched, it is expected to be able to serve the consumption demand of over 2 million foreign travelers visiting Hubei on average per year. -0-

    MIL OSI Russia News –

  • MIL-OSI Africa: Eskom, KEPCO KPS partner on Research and Business Improvement

    Source: South Africa News Agency

    Eskom has signed a Memorandum of Understanding (MoU) with Korea Plant Service & Engineering Co., Ltd. (KEPCO KPS) to establish a strategic partnership focused on non-commercial research, technical consulting and innovation. 

    In a statement on Thursday, the power utility said this agreement sets out a framework for collaboration aimed at enhancing Eskom’s operational performance and supporting its long-term sustainability objectives. 

    Under the MoU signed on Thursday, the two organisations will cooperate across six key focus areas, namely: 

    • Exploring strategic cooperation and exchange of information related to critical spares’ replenishment including, but not limited to, remanufacturing, reproducing, repairing or retrofitting of obsolete spares;
    • The identification, implementation and evaluation of potential research and consulting-related technical projects; projects supporting asset development plans, performance improvements of existing plant, and asset management;
    • Digitalisation (such as artificial intelligence, internet of things, and data analytics) and related focus areas, working together to leverage expertise on training, skills development and knowledge transfer on digitalisation expertise towards modernising and achieving an intelligent power grid;
    • Energy transition, green and smart research and development, plant construction focusing on socioeconomics, water generation with interest in the circular economy, and climate change risk mitigation;
    • Enhancing human resources development, skills transfer and training, employee exchange and training programmes, study tours, workshops and sharing of studies and reports. 

    Eskom Group Chief Executive, Dan Marokane, said that Eskom was a research-driven, people-centred, and technology-focused organisation. 

    “Our collaboration with KEPCO KPS across key strategic areas reinforces our commitment to continuous business improvement and long-term sustainability.

    “As we advance the recovery of our operations and work to strengthen long-term performance for the benefit of South Africans, businesses, and the broader economy, we are proud to partner with global institutions like KEPCO KPS. 

    “By combining our expertise and embracing international best practices in engineering and maintenance, we aim to accelerate innovation and build a more resilient, sustainable energy future for South Africa,” Marokane said.

    KEPCO KPS Chief Executive Officer, Jungnam Lee said: “With this MoU as an opportunity, the two companies plan to expand technological exchanges and contribute to improving the performance of aging power plants in South Africa based on KPS’ world-class technological capabilities.” 

    About KEPCO KPS 

    KPS is a public corporation specialising in providing total solutions for power plant facility diagnosis & performance improvement, power generation facility operation and maintenance (O&M), as well as new & renewable energy and industrial facilities. 

    KPS was established to contribute to the power industry’s stable power supply and development by improving the performance and reliability of power equipment for power generation and transmission. 

    Eskom Research Business Unit 

    Eskom is South Africa’s public electricity utility and is the largest producer of electricity in Africa. The company has a dedicated research business unit, the Eskom Research, Testing & Development (RT&D), which is proactively finding technology solutions that can be applied primarily within the company to embrace innovation, enhance efficiency and improve operations, improvements related to emissions management, Greenhouse Gas (GHG) abatement, and beyond. 

    One of the key areas of focus for RT&D is assisting the business in a differentiated approach with multiple pathways to move from high-carbon to low-carbon energy sources through identifying technology and processes that enable the economy to be competitive and sustainable while enabling Eskom to be as efficient as possible. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Minister announces preferred bidders under BESIPPPP Bid Window 3

    Source: South Africa News Agency

    In an ongoing effort to ensure energy security and reduce the cost of electricity, Electricity and Energy Minister, Dr Kgosientsho Ramokgopa, has announced the appointment of five preferred bidders under the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) Bid Window 3.

    These preferred bidders are expected to make a total investment of R9.5 billion into the South African economy.

    The Battery Energy Storage Programme is a critical initiative aimed at enhancing South Africa’s power system by providing essential ancillary services and increasing grid capacity through energy storage.

    “What we are announcing today… is another ‘peaker’ that is going to help us during the peak, instead of relying more and more on the open cycle gas turbines and on burning diesel.

    “We are going to use that excess generation capacity that we generated during the day when the sun was out … we store it and at the time when we need it, draw it. We are going to draw it from the batteries and [it will] be discharged and give us the kind capacity that we need. We are working on ensuring that we have additional generation capacity drawing from the technology that is out there in the world,” Ramokgopa said at a media briefing on Friday.
     

    WATCH | Bid Window 3 announcement 

    BESIPPPP Bid Window 3 is a site-specific procurement round designed to facilitate the procurement of up to 616 megawatts (MW) from facilities that will provide capacity, energy and ancillary services to the National Transmission Company of South Africa (NTCSA) as the buyer, at five specified sites in the Free State supply area.

    “This is part of our quest to ensure that we achieve energy security, bring down the cost of electricity – because this solution has been shown to be the most cost competitive of the energy solutions that we can have.

    “A combination of solar BPV [biological photovoltaics], wind and now storage capacity means that we are flattening the cost curve of electricity. We will make household lives more bearable – disposable income and more significantly for industry.

    “Electricity is the backbone of the economy. If the lights are off, there is no economy.”

    The department received a total of 33 bid responses on 28 November 2024. 

    The BESIPPPP BW3 round was again found to be highly competitive, with a marked increase in the number of bids relative to the previous bid windows, resulting in a 40% and 8% decrease in the average evaluation Price, compared to Bid Window 1 and 2 prices respectively.

    The five preferred bidders have made the following commitments:
    •    Black Shareholding: will contract at a minimum of 40% in the IPP Project Companies; up to 30% black shareholding by construction contractors; and up to 42% in operations contractors.
    •    Total Job Opportunities: 852 job opportunities for South African citizens (measured in job years), during construction and operations.
    •    Local Content Spend: Over R3.7 billion during construction and during the operation and maintenance phases.
    •    Preferential Procurement: Over R3 billion from Broad-Based Black Economic Empowerment (B-BBEE) companies, R1.3 billion from black-owned enterprises, R1.1 billion from Qualifying Small Enterprises (QSEs) and Exempted Micro Enterprises (EMEs) as well as R562 million from black women companies.
    •    Supplier development, skills development, bursaries for black students, skills development for Black disabled people, enterprise development and socio-economic development initiatives: R184 million over the lifetime of the projects.

    –SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI USA: SPC May 31, 2025 0100 UTC Day 1 Convective Outlook

    Source: US National Oceanic and Atmospheric Administration

    SPC AC 310100

    Day 1 Convective Outlook
    NWS Storm Prediction Center Norman OK
    0800 PM CDT Fri May 30 2025

    Valid 310100Z – 311200Z

    …THERE IS A SLIGHT RISK OF SEVERE THUNDERSTORMS FOR PARTS OF THE
    MID ATLANTIC…

    …SUMMARY…
    Scattered severe storms remain possible this evening across the Mid
    Atlantic, with a threat of wind damage and a couple of tornadoes.

    …Mid Atlantic into southern New England…
    A vigorous mid/upper-level shortwave trough is moving across the
    Allegheny Plateau region this evening. A strengthening surface
    cyclone will move eastward toward eastern PA and NJ this evening,
    and approach southern New England by the end of the forecast period.
    A cluster of storms with embedded supercell structures will
    accompany the deepening cyclone this evening. Hodographs remain
    relatively enlarged, with 0-1 km SRH of 100-150 m2/s2, and
    occasional low-level rotation may continue through the evening. Some
    tornado and wind-damage threat will spread east-northeast in
    conjunction with these storms into parts of southeast PA, DE, and
    NJ, before diminishing surface-based instability results in an
    eventual weakening trend later tonight.

    A couple strong storms cannot be ruled out overnight into southern
    New England. However, the severe threat appears increasingly limited
    with northeastward extent, due to a lack of surface-based
    instability, and only modest elevated buoyancy.

    …Southeast WI into northern IL/northwest IN…
    Storms moving southward across eastern WI earlier produced
    marginally severe hail, and some localized threat for hail and
    strong gusts may spread southward into northeast IL/northwest IN
    this evening, in conjunction with a southward-moving midlevel
    shortwave trough. This activity should generally weaken later
    tonight as it encounters weaker instability.

    …Carolinas into the Southeast and Florida…
    In the wake of earlier storms, weak convection is ongoing this
    evening across parts of the Carolinas, near a southeast-moving cold
    front. Substantial redevelopment appears unlikely due to the
    stabilizing influence of earlier convection, but strong low-level
    flow could support gusty winds with this weaker convection before it
    dissipates or moves offshore.

    Farther south/west, isolated strong storms remain possible this
    evening near the immediate Gulf coast near the front. With time,
    convection will spread into parts of the northern/central FL
    Peninsula, with sufficient deep-layer shear to support modest storm
    organization and an isolated severe threat.

    ..Dean.. 05/31/2025

    CLICK TO GET WUUS01 PTSDY1 PRODUCT

    NOTE: THE NEXT DAY 1 OUTLOOK IS SCHEDULED BY 0600Z

    MIL OSI USA News –

  • MIL-OSI Russia: Israel to Block Arab Foreign Ministers’ Visit to West Bank — Media

    Translation. Region: Russian Federal

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

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

    JERUSALEM, May 31 (Xinhua) — Israel has decided to block the visit of foreign ministers from several Arab countries to the West Bank on Sunday to meet with Palestinian President Mahmoud Abbas, local state-run Kan TV reported on Friday evening.

    The planned visit by the foreign ministers of Jordan, Egypt, Saudi Arabia and the United Arab Emirates is a “provocative act” aimed at advancing discussions on the creation of a Palestinian state, Israeli Foreign Ministry officials said.

    The country’s Foreign Ministry representatives also noted that the Palestinian Authority continues to refuse to condemn the attack on Israel on October 7, 2023.

    “Israel will not cooperate with activities directed against it and its security,” the statement said. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: A plant for the production of innovative veterinary drugs has opened in the China-Belarus Industrial Park “Great Stone”

    Translation. Region: Russian Federal

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

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

    MINSK, May 31 /Xinhua/ — A plant for the production of innovative veterinary drugs opened in the China-Belarus Industrial Park “Great Stone” on Friday. The corresponding information was published by the press service of the industrial park administration on the same day.

    The investment project was implemented by the park resident OOO “BelAgroGen Scientific and Production Center”. The enterprise specializes in the production of innovative veterinary drugs for the treatment and prevention of diseases of animals and poultry. Many of the drugs are innovative developments of the company and have no analogues on the market of Russia and the CIS countries.

    Production in the industrial park has a certificate of compliance with the requirements of the rules of good manufacturing practice of the Eurasian Economic Union. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: Stauber to Attend President Trump’s Rally in Pittsburgh Celebrating U.S. Steel-Nippon Partnership

    Source: United States House of Representatives – Congressman Pete Stauber (MN-08)

    PITTSBURGH, PA – Today, Congressman Pete Stauber (MN-08) will join President Donald Trump, Members of Congress from the Pennsylvania delegation, and local steelworkers at the U.S. Steel Irvin Works Plant in Pittsburgh to celebrate the new and historic partnership between U.S. Steel and Nippon Steel.

    Of this partnership, Congressman Stauber stated, “The partnership between U.S. Steel and Nippon Steel will revive America’s steel industry, and the benefits will be felt right here in Northern Minnesota. This deal will inject $14 billion in new, capital investments, including an estimated $800 million for U.S. Steel’s Iron Range taconite mining operations. This significant investment will create jobs and strengthen our region’s proud iron mining legacy for generations to come. I thank the President for his decisive leadership on the matter, and for making American Steel Great Again.”

    BACKGROUND: 

    Without this partnership, U.S. Steel faced an uncertain future. This iconic American company was in jeopardy of being split up, thousands of jobs would have been lost, and China would have been enabled to attempt its dominance in global steelmaking.

    Instead, this historic partnership will save jobs and strengthen American steel production, improving the domestic steel supply chain for vital products such as cars, appliances, ships, pipelines, and more. Northern Minnesota will greatly benefit from the partnership, as the iron ore and taconite mined on the Iron Range is used to make approximately 80% of the country’s domestically produced steel.

    Under this partnership, U.S. Steel will remain headquartered in Pittsburgh, Pennsylvania under American control: 

    • U.S. Steel will maintain its production locations and capacity in the United States. American jobs are protected and cannot be offshored.
    • A majority of U.S. Steel’s Board of Directors must be American citizens.
    • U.S. Steel’s key management team, including the CEO, will all be American citizens.
    • U.S. Steel’s trade actions will continue to be determined solely by American citizens, with oversight from the U.S. government.
    • U.S. Steel will honor existing labor commitments with the United Steelworkers (USW).  

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Panetta Reintroduces Bipartisan, Bicameral Legislation to Spur Plant Biostimulant Research and Development

    Source: United States House of Representatives – Congressman Jimmy Panetta (D-Calif)

    Monterey, CA – United States Representatives Jimmy Panetta (CA-19) and Jim Baird (IN-04) reintroduced the Plant Biostimulant Act.  This legislation would create a uniform federal definition for plant biostimulants, establish a consistent regulatory pathway to market, and promote additional research into the benefits of biostimulant products on soil health and crop production.  Currently, there is no clear or consistent federal framework to govern the use and approval of plant biostimulants, which creates uncertainty for producers and limits the adoption of these innovative tools.  The updated legislation would address this gap through federal guidance from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Agriculture (USDA).  Companion legislation was introduced in the Senate by Senators Alex Padilla (D-CA) and Roger Marshall (R-KS).

    Plant biostimulants are substances or microorganisms applied to plants or soils to enhance natural processes, improve nutrient uptake, increase tolerance to environmental stress, and boost overall plant health and crop yield.  These products also show promise for improving sustainability through practices like carbon sequestration and water quality improvement.

    “The lack of a standard regulatory definition or pathway to market for plant biostimulants makes it harder for producers to access this sustainable and effective technology,” said Rep. Panetta.  “By reintroducing this bipartisan bill, we’re pushing for the clarity and federal coordination needed to encourage the adoption of biostimulants.  Increasing access to these products helps our farmers improve crop yields, protect our environment, and maintain U.S. leadership in sustainable agriculture.”

    “Our farmers and ranchers deserve a regulatory process that provides a clear path for their products to go to market, especially as new technologies become available for famers and producers to improve the efficiency, productivity, and sustainability of our agriculture industry,” said Rep. Baird.  “Biostimulants have the significant potential benefits for producers and their sustainability footprint.  Defining these products and creating a consistent process is an important step in giving farmers better access to plant biostimulants and other new technologies to ensure our agriculture sector can thrive.”

    “California’s agriculture industry is essential to our national economy and puts food on the table for families across the country,” said Senator Padilla.  “As we make our agriculture sector more sustainable, our evolving practices must be properly implemented to ensure their efficacy and safety.  Oversight and regulatory standards for plant biostimulants, which could replace or reduce the use of synthetic pesticides and fertilizers, are critical to maintain California’s leadership at the forefront of this bio-based agricultural technology.”

    “Innovation is the cornerstone of American agriculture. By creating pathways to approve new agronomic tools like plant biostimulants, our nation’s farmers are able to produce more food with less crop protection tools and fertilizers,” said Senator Marshall.  “I am proud to lead this bipartisan effort with Senator Padilla and Representatives Baird and Panetta to help make the world cleaner, safer, and healthier than we found it.” 

    The Plant Biostimulant Act would:

    • Amend the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) to define plant biostimulants;
    • Direct the EPA to revise the Code of Federal Regulations to reflect the new definition;
    • Require the USDA to study the contributions of plant biostimulants to soil health and sustainability.

    The Plant Biostimulant Act is endorsed by; Agriculture Retailers Association (ARA), American Seed Trade Association (ASTA), Biological Products Industry Alliance (BPIA), Biotechnology Innovation Organization (BIO), Council of Producers and Distributors of Agrotechnology (CPDA), CropLife America (CLA), The Fertilizer Institute Biostimulant Council, Golf Course Superintendents Association of America (GCSAA), Humic Products Trade Association (HPTA), International Fresh Produce Association (IFPA), National Association of Landscape Professionals (NALP), RISE (Responsible Industry for a Sound Environment), Southern Crop Production Association (SCPA), and Western Growers.

    “Reintroducing the Plant Biostimulant Act is a vital step forward, and we applaud Representatives Jimmy Panetta and Jim Baird for their leadership,” said Keith Jones, Executive Director of the Biological Products Industry Alliance (BPIA).  “This bipartisan bill is critically important to the future of the biostimulant industry, as it will codify a federal definition for plant biostimulants and clarify the path to market for these innovative products.  By establishing a clear regulatory framework, the legislation will drive investment in U.S.-led agricultural innovation and enhance American competitiveness in the global biological marketplace.  BPIA looks forward to working with Congress to see this bill signed into law.”

    “The Biotechnology Innovation Organization (BIO) strongly supports the reintroduction of the Plant Biostimulants Act, and we thank Reps. Panetta and Baird for their continued bipartisan leadership on this important issue.  This crucial legislation will provide a clear regulatory pathway for innovative agricultural technologies, enhancing efficiency and productivity in American agriculture and ensuring food security for our nation.  By promoting plant biostimulants, we can improve soil health, water quality, and crop resilience, while also reducing farmers’ reliance on costly pesticides and fertilizers.  BIO is committed to advancing cutting-edge bio-based solutions for our farmers and plant producers, securing a productive yet sustainable future for our agricultural community and our planet,” said Sylvia Wulf, Interim Head of the Biotechnology Innovation Organization (BIO) Ag & Environment Center of Excellence

    “The Fertilizer Institute (TFI) thanks Reps. Panetta and Baird for reintroducing this important legislation. This bill provides a critical definition for plant biostimulants which will help states establish a clear path to market for these important products and technologies, critical to a variety of growers,” said Corey Rosenbusch, President and CEO of the Fertilizer Institute.

    “CropLife America (CLA) appreciates Representatives Jimmy Panetta (D-CA) and Jim Baird (R-IN) for reintroducing the Plant Biostimulant Act.  By establishing a federal definition for plant biostimulants and clarifying their pathway to market, this legislation will facilitate farmers’ access to these innovative products and drive further research and development. CLA looks forward to working with Congress on this important legislation,” said Alexandra Dunn, President and CEO of CLA.  

    “I’d like to thank Congressmen Panetta and Baird for reintroducing the “Plant Biostimulant Act,” said Megan Provost, President of RISE (Responsible Industry for a Sound Environment). “Plant biostimulants help homeowners, landscape professionals and golf course superintendents provide healthy greenspaces that benefit us all. This legislation will help to clarify how they are defined and ensure access to these valuable products.”

    “The Humic Products Trade Association sincerely thanks Representatives Panetta and Baird for reintroducing the Plant Biostimulant Act,” said Russell Taylor, President, Humic Products Trade Association.  “This legislation updates FIFRA to match today’s reality: farmers need crop inputs that help build soil resilience, optimize nutrient use, and safeguard water. By defining plant biostimulants outside the pesticide framework, Congress will give states—and innovators—the regulatory clarity needed to foster this growing product category. HPTA supports this bill because it equips growers with modern, science-backed tools, which ultimately help deliver safe, sustainable food to consumers.”

    “I’d like to thank Congressmen Panetta and Baird for reintroducing the “Plant Biostimulant Act,” said Rhett Evans, CEO of the Golf Courses Superintendents Association of America.  “Plant biostimulants help golf course superintendents provide healthy greenspaces that benefit everyone.  This legislation will help ensure golf’s access to this valuable product.”

    ###

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: SFST promotes HK’s measures for integrating traditional and digital finance at Web Summit Vancouver (with photos)

    Source: Hong Kong Government special administrative region

    SFST promotes HK’s measures for integrating traditional and digital finance at Web Summit Vancouver  
    The Web Summit, a mega event for the tech sector, attracted over 10 000 tech investors, entrepreneurs and industry leaders across the world each time it is hosted. This is the first time the Summit has been held in Vancouver. Mr Hui engaged in a panel discussion session titled “Local to global: Strategies for tech success”, which was joined by the Minister of Jobs, Economic Development and Innovation of the Province of British Columbia, Canada, Ms Diana Gibson. They had an illuminating discussion on the various approaches taken in building dynamic fintech economies, ranging from developing talent, attracting investment to creating opportunities.
     
    Mr Hui said that as one of the top three international financial centres and a leading international green finance hub, Hong Kong is pioneering the integration of traditional and digital finance with a view to strengthening its position as Asia’s gateway for financial innovation. The city is striving to accelerate green and sustainable finance and virtual asset development, with a view to making them key components of the diversified financial value chain. The Hong Kong Monetary Authority has already commenced sandbox experimentation of Project Ensemble, which is a new wholesale central bank digital currency project to support the development of the tokenisation market in Hong Kong.
     
          The fintech ecosystem is thriving in Hong Kong, with around 1 100 fintech companies and start-ups, including 10 licensed virtual asset trading platforms, eight digital banks and four virtual insurers. Pledged to continue playing a leading role in facilitating green and sustainable financing and investment for the global agenda of green transition, Hong Kong issued a policy statement last October to set out its policy stance and approach on the responsible application of artificial intelligence in the financial market. The Government also launched a roadmap last December to require publicly accountable entities (PAEs) to adopt the International Financial Reporting Standards – Sustainability Disclosure Standards (ISSB Standards) and to provide a well-defined pathway for large PAEs to fully adopt the ISSB Standards no later than 2028. This brings Hong Kong among the first jurisdictions to align its local requirements with ISSB Standards. As an initial step, the Stock Exchange of Hong Kong Limited has already started to implement in phases new climate disclosure requirements to reflect the ISSB Standard No. 2: Climate-related Disclosures since this January.
     
    Mr Hui also updated the Summit on the latest passage of legislation last week establishing a licensing regime for fiat-referenced stablecoins issuers in Hong Kong, as a way to further enhance Hong Kong’s regulatory framework on virtual asset activities for supporting the healthy, responsible and sustainable development of Hong Kong’s stablecoin and the broader digital asset ecosystem. Hong Kong is among the first batch of regions to have introduced stablecoin legislation and strives to fully implement the licensing regime within this year, with a view to approving the first batch of licences as soon as practicable.
     
    Looking forward, Hong Kong will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets. A consultation on the licensing regimes for virtual asset over-the-counter trading services and custodian services will also be conducted within this year.
     
    During his stay at the Summit, Mr Hui visited exhibition booths manned by Hong Kong delegates. He was pleased to learn that the Hong Kong delegates received encouraging feedback over the past few days, reflecting the world-class standard of Hong Kong fintech talent and their appeal to investors.
     
         In the afternoon, Mr Hui paid a courtesy call to the Consul General of the People’s Republic of China in Vancouver, Mr Yang Shu. Mr Yang said Hong Kong has always been a window of the country to the world and will continue to be. He encouraged Hong Kong to keep up with its work in deepening international exchanges and co-operation.
     
    Before concluding his visit to Canada, Mr Hui visited Bank of Montreal and met with the Senior Vice President & Head, Mid-Market, Commercial Bank, Mr Andrew Hung, and Senior Vice President & Head, BC & Yukon, Mr Greg Vriend. He told them that in a world full of geopolitical uncertainties, Hong Kong’s financial market is emerging as a risk-off haven for investors and attracting more investments owing to its connectivity with the Mainland and the world at large, bringing greater prospects for the banking sector and different financial areas.
     
    Mr Hui will return to Hong Kong in the early hours of May 31 (Vancouver time).
    Issued at HKT 9:40

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Trans Mountain Corporation Releases First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 30, 2025 (GLOBE NEWSWIRE) — Trans Mountain Corporation (“TMC” or “the Company”) has released its financial statements and associated management report for the three months ending March 31, 2025. The Company’s financial results are also included in Canada Development Investment Corporation’s (“CDEV”) consolidated quarterly financial statements.

    Adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) reflect the performance of TMC’s base business. Revenues and Adjusted EBITDA have increased significantly following the commercial commencement of the Expanded System on May 1, 2024.

    Financial Highlights:

    • EBITDA: For the three-month period ending March 31, 2025, Adjusted EBITDA increased by $532 million to $568 million, compared to $36 million in the same period of the prior year.
    • Capital Structure: In December 2024, Canada TMP Finance Ltd., the entity which holds the Government of Canada’s investment in TMC, provided funding to repay $17.9 billion of guaranteed third-party debt. The refinancing results in lower interest costs for the Company, making additional funds available to optimize the system, grow, pay down debt or increase returns to its shareholder.
    • Capital Return: During the first quarter an aggregate of $311 million was paid to Canada TMP Finance Ltd., consisting of $148 million in interest payments and $163 million in cash dividends. These distributions are expected to grow significantly in 2026 and beyond.

    Operational Highlights:

    • Throughput: During the first quarter, the Expanded System had an average daily mainline throughput of approximately 757,000 barrels per day (bpd), including 445,000 bpd to Westridge Marine Terminal, 227,000 bpd to Washington state on the Puget Sound Pipeline and 85,000 bpd to BC delivery points.
    • Vessel Traffic: For the three-month period ending March 31, 2025, 74 vessels were loaded at Westridge Marine Terminal, including 29 vessels in March marking a new monthly high for the Expanded System’s operation. Since the commercial commencement of the Expanded System on May 1, 2024, TMC has loaded 266 vessels at the terminal. Third-party information suggests vessel destinations have been broadly split between the US West Coast and Asia.
    • Loading Performance: Ship loading performance remains strong. During the quarter, approximately 90 per cent of ships were loaded on time, with delays attributable to vessel operator factors.

    Since the commercial commencement of the Expanded System, all deliveries have been subject to the Expanded System tariff and tolls. Contractually committed revenues associated with the 15-and 20-year transportation service contracts covering approximately 80 per cent of the Expanded System’s capacity have resulted in a significant increase to transportation volumes, revenues and Adjusted EBITDA.

    TMC reported net income of $148 million for the first quarter of 2025, as compared to $158 million in the same period of the prior year. While Adjusted EBITDA reflects the results from the Company’s base business, net income incorporates depreciation and amortization expense, as well as the significant financing impacts of the Trans Mountain Expansion Project (“TMEP”), specifically, the equity allowance for funds used during construction (“AFUDC”), interest expense and capitalized debt financing costs.

    While net income decreased by $10 million year-over year, the underlying factors changed significantly. Interest expense before capitalized debt financing costs was materially lower, reflecting the recapitalization of TMC’s balance sheet in December 2024. However, these savings were offset by increased depreciation and amortization expense, and the cessation of equity AFUDC and capitalized debt financing costs on TMEP following the commercial commencement of the Expanded System.

    CEO Comments

    “Trans Mountain is demonstrating its strategic value to Canada’s economy,” said Mark Maki, Chief Executive Officer, Trans Mountain Corporation. “Our team remains focused on safe, reliable operations as we complete one year of Expanded System operations. The Expanded System has driven strong value to Canada’s energy producers and Canadians overall.” Maki continued, “This critical infrastructure is opening new global markets for Canadian energy, reducing reliance on a single US market and ensuring long-term economic benefits for Canadians. These results reflect the hard work, commitment to safety and collaboration of our dedicated team.

    For the three-month period ending March 31, 2025, the West Texas Intermediate to Western Canadian Select differential averaged US$13 per barrel (bbl), which was US$4 per bbl narrower than the average of US$17 per bbl in Q1, 2024. While the differential does not directly affect TMC’s operational or financial performance, the commencement of the Expanded System has contributed to greater egress optionality and improved oil prices for Canadian producers in the Western Canada Sedimentary Basin,” concluded Maki.

    See the full financial statements and management report documents here. See CDEV’s Quarterly Report here.

    Looking Forward

    Toll Hearing: TMC continues to operate under an interim toll structure currently before the Canada Energy Regulator (CER). On November 30, 2023, the CER approved preliminary interim tolls for the Expanded System, which remain in effect today. Under the current CER hearing timeline, final arguments are scheduled for late 2025.

    Optimization Opportunities: Trans Mountain is exploring both short and long-term optimization projects aimed at increasing pipeline capacity by 200,000 bpd to 300,000 bpd. Potential solutions may include the use of drag-reducing agents to increase flow efficiency, as well as other operational enhancements to improve system capabilities.

    Forward-looking information

    This news release contains certain statements that constitute forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking information”). Forward-looking information is not historical fact, but instead represents the current expectations of TMC regarding future operating results and other future events relating to TMC, many of which, by their nature, are inherently uncertain and outside of the control of TMC. Forward-looking information can be identified by words or phrases such as “will”, “may”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “seek”, “aim”, “potential”, “should”, “would” and similar words or expressions. Forward-looking information in this news release includes, but is not limited to, expectations regarding future distributions, potential uses of funds resulting from lower interest costs, expected timing for final arguments for the current CER hearing, potential optimization projects and the expected increase in pipeline capacity resulting from such projects. the opening of global markets for Canadian energy and long-term economic benefits resulting from TMC’s infrastructure. Actual results could differ materially from those anticipated in the forward-looking information. The forward-looking information in this news release is based on certain assumptions that TMC has made regarding, among other things: market conditions, economic conditions, prevailing governmental policies, regulatory, tax, and environmental laws and regulations, inflation rates and commodity prices, future demand for space on TMC’s pipeline systems, interest, tax and foreign exchange rates and expected cash flows and availability of funds. Although TMC believes the assumptions and other factors reflected in the forward-looking information are reasonable as of the date hereof, there can be no assurance that these assumptions and factors will prove to be correct and, as such, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, the available supply and price of energy commodities, TMC’s ability to successfully implement its strategic priorities, the operating performance of TMC’s pipelines and related assets, performance and credit risk of TMC’s counterparties, the geopolitical environment, actions taken by governmental or regulatory authorities, changes in laws, the occurrence of unexpected events such as fires and severe weather conditions, cyber-attacks and other accidents or similar events and adverse general economic and market conditions or other risk factors, many of which are beyond the control of TMC. The foregoing list of assumptions and risk factors should not be construed as exhaustive. The forward-looking information contained in this news release speaks only as of the date hereof. TMC does not undertake any obligation to publicly update or revise any forward-looking information contained herein, except as required by applicable laws. All forward looking information contained in this news release is expressly qualified by this cautionary statement.

    GAAP and Non-GAAP measures

    We make use of certain financial measures that do not have a standardized meaning under U.S. GAAP because we believe they improve management’s ability to evaluate our operating performance and compare results between periods. These are known as non-GAAP measures and may not be similar to measures provided by other entities. The non-GAAP measures discussed above should not be considered as an alternative to or more meaningful than revenues, net income, operating income or other U.S. GAAP measures. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization and equity AFUDC) is a non-GAAP measure we use to evaluate our operating performance and is calculated from its most directly comparable U.S. GAAP measure, operating income but excludes the impact of financing decisions, non-cash depreciation and amortization, and non-cash equity AFUDC.

    AFUDC (Allowance for Funds Used During Construction) is an amount recognized under U.S. GAAP by rate-regulated entities to reflect a return on the equity and debt components of capital invested in construction work in progress.

    About Trans Mountain

    Trans Mountain Corporation (together with its wholly-owned subsidiaries, “Trans Mountain”) operates Canada’s only pipeline system transporting oil products to the West Coast. Trans Mountain is a wholly owned entity of Canada TMP Finance Ltd., a subsidiary of Canada Development Investment Corporation (CDEV), the entity which holds the Government of Canada’s investment in TMC. We have nominal capacity to deliver 890,000 barrels of petroleum products each day through a pipeline system of more than 1,180 kilometres of pipeline in Alberta, British Columbia and 111 kilometres of pipeline in Washington state. Trans Mountain also operates a state-of-the-art loading facility, Westridge Marine Terminal, with three berths providing tidewater access to global markets. As a federal Crown corporation, Trans Mountain continues to build on more than 70 years of experience delivering operational and safety excellence through our crude oil pipeline system. To learn more, visit us at www.transmountain.com.

    The MIL Network –

  • MIL-OSI Video: LIVE: Secretary of Defense Pete Hegseth speaks at the Shangri-La Dialogue 2025 in Singapore.

    Source: United States Department of Defense (video statements)

    Secretary of Defense Pete Hegseth speaks at the Shangri-La Dialogue 2025 in Singapore, May 30, 2025 (EDT)/May 31, 2025 (Singapore). Hosted by the International Institute for Strategic Studies, the event is an opportunity to discuss the region’s most pressing security challenges and engage in important bilateral talks.

    For more on the Department of Defense, visit: http://www.defense.gov
    —————
    Keep up with the Department of Defense on social media!

    Like the DoD on Facebook: http://facebook.com/DeptofDefense
    Follow the DoD on Twitter: http://twitter.com/DeptofDefense
    Follow the DoD on Instagram: http://instagram.com/DeptofDefense
    Follow the DoD on LinkedIn: https://www.linkedin.com/company/DeptofDefense

    https://www.youtube.com/watch?v=pk5jHnWABck

    MIL OSI Video –

  • MIL-OSI: Trillion Energy Announces Debt Settlements

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, B.C. , May 30, 2025 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces that it proposes to issue an aggregate of 2,237,082 common shares of the Company in settlement of $101,854.10 in debt owed by the Company to consultants and an officer of the Company (the “Debt Settlement“). The common shares will be subject to a four month and one day hold period from the date of issuance as per applicable Canadian securities legislation.

    In connection with the Debt Settlement, a total of 573,002 common shares of the Company are being issued for certain management services from an officer of the Company (the “Insider Settlement“).

    The Insider Settlement is considered a “related-party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement based on that the fair market value of such insider participation does not exceed 25% of the Company’s market capitalization.

    About the Company

    Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedarplus.ca, and our website.

    Contact
    ‎Sean Stofer, Chairman
    Brian Park, VP of Finance
    1-778-819-1585
    E-mail: info@trillionenergy.com
    Website: www.trillionenergy.com

    Cautionary Statement Regarding Forward-Looking Statements

    This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company’s ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.

    These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedarplus.ca, and or request a copy of our reserves report effective December 31, 2023 and filed on April 25, 2024.

    The MIL Network –

  • MIL-OSI USA: Governor Polis Signs Bills In Grand Junction and Western Slope to Support Outdoor Recreation and Protect the Great Outdoors

    Source: US State of Colorado

    GRAND JUNCTION – Today, Governor Polis signed bills in Grand Junction to support outdoor recreation and protect the great outdoors that Colorado is known for. Governor Polis signed the bipartisan SB25-174 – Sunset Outfitters & Guides, sponsored by Senators Dylan Roberts and Cleave Simpson and Representatives Meghan Lukens and Matt Soper and the bipartisan HB25-1215 – Redistribution of Lottery Fund, sponsored by Representatives Rick Taggart and Junie Joseph and Senators Jeff Bridges and Barbara Kirkmeyer to support local outdoor recreation businesses and workers, and increase opportunities for every Coloradan to experience the outdoors. 

    “Protecting and enjoying Colorado’s great outdoors is an important part of who we are. These new laws will protect our outdoors, support our outdoor recreation businesses and economy, and expand opportunity to ensure all Coloradans for generations can enjoy our state’s world-class great outdoors,” said Governor Polis. 

    Governor Polis also signed the bipartisan HB25-1021 – Tax Incentives for Employee-Owned Businesses, sponsored by Reps William Lindstedt and Rick Taggart and Senators Jeff Bridges and Mark Baisley. 

    “Employee-owned businesses provide good-paying jobs and support our strong economy. Ownership opportunities for employees are good for businesses and employees, driving growth, creating opportunity, and strengthening recruitment and retention. I am proud of our work to help businesses embrace the benefits of employee ownership,” said Governor Polis. 

    At Grand Junction Community Hospital, Governor Polis signed the bipartisan SB25-071 – Prohibit Restrictions on 340B Drugs, sponsored by Senators Dafna Michaelson Jenet and Janice Rich and Reps Matthew Martinez and Rick Taggart. 

    “We are focused on saving people money on health care, and costly prescription drugs can force Coloradans to decide between paying for prescriptions over food, housing, and other necessities. I am proud to sign a major new law to expand drug discounts and enable hospital providers to expand access to affordable care, including by lowering prescription medication costs. I continue to call on the federal government to grant Colorado’s waiver to import lower-cost prescription drugs from Canada,” said Governor Polis. 

    This afternoon, Governor Polis visited Glenwood Springs to sign the bipartisan SB25-272 – Regional Transportation Authority Sales and Use Tax Exemption, sponsored by Senators Faith Winter and Marc Catlin and Representatives Elizabeth Velasco and Meg Froelich. 

    “Building more housing near transit and expanding transit options is important for our goals to reduce pollution and make our high quality of life more affordable and liveable. This bill will help local governments and regional and local transit agencies build more workforce housing and provide more transportation options that save Coloradans time and money in all four corners of the state,” said Governor Polis. 

    Governor Polis then traveled to Colorado Mountain College to sign the bipartisan HB25-1186 – Work-Based Learning Experiences in Higher Education, sponsored by Representatives Matthew Martinez and Meghan Lukens, and Senators Janice Rich and Dafna Michaelson Jenet. 

    “Expanding opportunities for work-based learning for all students, whether they’re in K-12 or higher education, is important for our workforce, economy, and each student’s future. This bill will expand access to work-based learning in the classroom and in the workforce, helping students gain the skills to get good-paying jobs,” said Governor Polis. 

    Governor Polis also signed the following bipartisan bills into law: 

    • HB25-1080 – Wireless Telephone Infrastructure Deployment Incentives, sponsored by Representatives Meghan Lukens and Matt Soper, and Senator Nick Hinrichsen
    • HB25-1006 – School District Solar Garden Lease Term, sponsored by Representatives Meghan Lukens and Anthony Hartsook and Senators Jeff Bridges and Chris Kolker
    • HB25-1153 – Statewide Government Language Access Assessment, sponsored by Representatives Elizabeth Velasco and Junie Joseph and Senator Iman Jodeh 

    The Governor signed the following bills administratively: 

    • SB25-144 – Change Paid Family Medical Leave Insurance Program, sponsored by Senators Winter and Bridges, and Representatives Willford and Zokaie.
      • “This new law will lower the payroll tax rate and provide a stable, workable pathway for setting premiums and safeguarding the solvency of this fund going forward. It will also provide support to families with children in the NICU, ensuring parents and loved ones can take the time away from work needed to be with their families,” said Governor Polis. Read the Governor’s signing statement.
    • HB25-1094 – Pharmacy Benefit Manager Practices, sponsored by Representatives Brown and Johnson, and Senators Pelton and Roberts. Read the Governor’s signing statement.
    • HB25-1259 – In Vitro Fertilization Protection & Gamete Donation Requirements, sponsored by Representatives Froelich and Brown, and Senators Cutter and Daugherty
    • HB25-1285 – Veterinary Workforce Requirements, sponsored by Representatives McCormick and Johnson, and Senators Kipp and Pelton
    • HB25-1301 – Authorizing Voice Court Reporter to Give Oath, sponsored by Representatives Carter and Espenoza, and Senators Roberts and Gonzales
    • HB25-1304 – Extension of Restitution Deadlines, sponsored by Representatives Froelich and Soper, and Senators Snyder and Bright
    • HB25-1318 – Species Conservation Trust Fund Projects, sponsored by Representatives McCormick and Soper, and Senators Roberts and Catlin
    • HB25-1326 – Updating Safety Net Provider Terminology, sponsored by Representatives Espenoza and Bradley, and Senator Ball
    • SB25-158 – State Agency Procurement & Disposal Certain Items, sponsored by Senators Sullivan and Gonzales, and Representatives Froelich and Brown
    • SB25-278 – Epinephrine Administration in Schools, sponsored by Senator Mullica, and Representatives Stewart and Bradley
    • SB25-285 – Updating Food Establishment Inspection Fees, sponsored by Senator Roberts, and Representatives Lukens and Soper
    • SB25-292 – Workforce Capacity Center, sponsored by Senators Amabile and Bridges, and Representatives Sirota and Taggart
    • SB25-308 – Medicaid Services Related to Federal Authorizations, sponsored by Senators Amabile and Kirkmeyer, and Representatives Taggart and Sirota
    • SB25-309 – Authorize Legislative Fellows, sponsored by Senator Simpson, and Representatives Brown and Bradfield
    • SB25-298 – Remove Term Homosexuality from Criminal Code, sponsored by Senators Daugherty and Lundeen, and Representatives Lindsay and Lukens
    • SB25-312 – American Rescue Plan Act Funds, sponsored by Senators Amabile and Kirkmeyer, and Representatives Bird and Sirota
    • SB25-313 – Proposition 123 Revenue Uses, sponsored by Senators Amabile and Bridges, and Representatives Bird and Sirota 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom announces appointments 5.30.25

    Source: US State of California Governor

    May 30, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Connie Nakano, of Elk Grove, has been appointed Assistant Director of the Office of Strategic Initiatives and Equity at the Department of Aging. Nakano has been Assistant Director of Communications at the Department of Aging since 2021. She was Assistant Deputy of Communications at the California Transportation Commission from 2020 to 2021. Nakano was a Public Information Officer at the California Department of Rehabilitation from 2017 to 2020. She was a Senior Marketing Specialist at the California Earthquake Authority from 2009 to 2017. Nakano was a National Interactive Account Manager at the Sacramento Bee from 2008 to 2009. She was an Advertising Account Manager at KMAX TV from 2004 to 2007. Nakano was an Advertising Account Manager at Valley Yellow Pages from 2002 to 2004. She was a Sales and Marketing Coordinator at KQCA 58 from 2000 to 2002. Nakano earned a Bachelor of Arts degree in Communications from California State University, Sacramento. This position does not require Senate confirmation, and the compensation is $161,064. Nakano is a Democrat.

    Patrick Schoch, of Byron, has been appointed to the 23rd District Agricultural Association Contra Costa County Fair Board. Schoch has been a Deputy Sheriff at the San Francisco Sheriff Office since 1998.  He served in the United States Marine Corps from 1994 to 2001 and in the United States Coast Guard from 2002 to 2024. This position does not require Senate confirmation, and there is no compensation. Schoch is a Republican.
     
    Jonathon Porter, of Tulare, has been appointed to the 24th District Agricultural Association Tulare County Fair Board. Porter has been a Risk Management Consultant at Nationwide since 2022 and the Administrator of Machado Dairy & Farming Company Inc. since 2014. He held multiple positions for the County of Tulare from 2020 to 2022, including Agricultural and Standards Inspector at the Agricultural Commissioner’s Office and Administrative Assistant. Porter is a member of the Cabrillo Civics Club of California. He earned a Master of Business Administration degree in Agricultural Business from Quantic School of Business and Technology and a Bachelor of Science degree in Agricultural Science from California State University, Fresno. This position does not require Senate confirmation, and there is no compensation. Porter is registered without party preference. 

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