NewzIntel.com

Category: Business

  • MIL-OSI New Zealand: Invercargill to Consider Ethical Procurement

    Source: Press Release Service

    Headline: Invercargill to Consider Ethical Procurement

    Invercargill City Council has requested a staff report on a proposal to amend its procurement policy to exclude companies involved in illegal Israeli settlements, following a motion from local residents and the Palestine Solidarity Network Aotearoa. If adopted, Invercargill would join other New Zealand councils aligning with international law and UN Resolution 2334, aiming to ensure ratepayer funds are spent ethically. The council vote will be scheduled once the report is complete.

    The post Invercargill to Consider Ethical Procurement first appeared on PR.co.nz.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Acting SFST’s speech at HKVCA Greater China Private Equity Summit 2025 (English only)

    Source: Hong Kong Government special administrative region

    Acting SFST’s speech at HKVCA Greater China Private Equity Summit 2025 (English only) 
    Rebecca (Co-Founder and Managing Director of Asia Alternatives, Ms Rebecca Xu), Conrad (Founder and Chairman of Strategic Year Holdings, Mr Conrad Tsang), distinguished guests, ladies and gentlemen,
     
         Good morning. It is my great pleasure to join you at the HKVCA’s flagship event – the Greater China Private Equity Summit – a global gathering of professionals and industry leaders of the private equity and venture capital sector.
     
         Today, the global economy is confronted by geopolitical tensions and economic fragmentation, and threatened by the rise of unilateralism and protectionism. Against this backdrop, it is all the more necessary to have a stable and predictable “super connector” with an overall conducive business environment.
     
         This is exactly what Hong Kong stands to provide. Earlier this year, the International Monetary Fund has reaffirmed Hong Kong’s position as an international financial centre and recognised Hong Kong’s resilient financial system, as supported by robust institutional frameworks, ample policy buffers, and the smooth functioning of the Linked Exchange Rate System. Indeed, Hong Kong ranked third in the world and first in Asia in the latest Global Financial Centers Index, whilst topping its “investment management” and “finance” matrix globally.
     
    China connectivity
     
         One unique advantage of Hong Kong is our preferential access to the Mainland China market. Last year (2024) marked the 10th anniversary of the mutual market access programmes between the Mainland and Hong Kong financial markets. Various mutual access programmes have been introduced one after another and have thrived over the past few years. The Connect Schemes allow international investors to conveniently invest in the Mainland China market through Hong Kong. At the same time, they enable Mainland investors to diversify their asset allocation through Hong Kong, facilitating the two-way flow of capital between the Mainland market and international markets, as well as the internationalisation of the Renminbi.
     
         The content and scope of mutual access have continued to deepen and expand, now encompassing a wide range of offerings, including stocks, bonds, exchange-traded funds, derivatives for risk management, and more. Real estate investment trusts will also soon be included in the Connect Schemes.
     
         Meanwhile, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is fast emerging as a young and massive consumer market that is increasingly affluent, and has a growing demand for quality financial products and services, and a need for diversified asset allocation. Home to 87 million people with a GDP (Gross Domestic Product) per capita of US$40,000 on a purchasing power parity basis, the GBA presents immense potential in driving the synergistic development of Hong Kong and other GBA cities.
     
         Tapping into the potential of this market, the GBA Cross-boundary Wealth Management Connect (WMC) was launched in 2021 and enhanced in February last year. The WMC provides GBA residents with a formal, direct and convenient channel for cross-boundary investment in diversified wealth management products. As of the end of April this year, about 154 000 individual investors in the GBA participated in the WMC, and cross-boundary fund remittances totalled close to RMB112 billion.
     
         Another recent case of our continued endeavour to deepen the mutual access and strengthen financial market development is the enhancements to the Mainland-Hong Kong Mutual Recognition of Funds (MRF) arrangement in January this year. By relaxing sales restrictions and allowing Hong Kong funds to delegate investment management functions overseas, the measures significantly increased the diversity of fund products, enhanced the scale of funds, and brought a positive effect to the distribution of MRF funds.
     
    Asset and wealth management hub
     
         With the your staunch support, we are solidifying Hong Kong’s role as an international asset and wealth management centre. As at the end of 2023, the assets under management (AUM) of the Hong Kong’s asset and wealth management business reached about US$4 trillion, registering a growth of about 30 per cent over five years, and 64 per cent of the capital was sourced from non-Hong Kong investors, underscoring our city’s role as a trusted gateway for global capital seeking access to opportunities across Asia and beyond. Our leadership is further evidenced by our standing as Asia’s largest hedge fund hub and Asia’s largest cross-border wealth management centre.
     
         As of the end of April this year, there were 1 125 limited partnership funds registered in Hong Kong, representing a growth of over 30 per cent on a year-on-year basis. According to an industry report, as of the end of first quarter this year, the AUM of Hong Kong’s private equity business amounted to about US$230 billion, ranked second in Asia, just trailing the Mainland China market.
     
         To drive development on this front, we are welcoming alternative asset funds to list in Hong Kong. The Securities and Futures Commission has recently issued a circular to clarify the regulatory requirements for authorising closed-ended funds that invest mainly in private and less liquid assets, thereby encouraging sizeable alternative asset funds, including those investing in private equity, private credit, and infrastructure equity or debt, to list in Hong Kong.
     
         I am sure this is a move welcomed by the industry, with benefits to investors that are multifold. On one hand, investors have broadened investment choices for diversification. On the other hand, investors may tap into opportunities previously only available to institutional and professional investors. Those with a long-term investment horizon may potentially achieve higher returns and a more stable valuation.
     
         Another welcome move, I believe, is our proposal to enhance the tax incentives for funds, single family offices and carried interest. These proposals aim to expand the scope of qualifying funds to include vehicles such as pension and endowment funds, while also increasing the range of eligible asset classes for tax concessions including emerging instruments like carbon credits, emission derivatives, insurance-linked securities, private credit investments, and virtual assets. In addition, we plan to enhance the tax concession arrangement on the distribution of carried interest by private equity funds by removing the existing HKMA (The Hong Kong Monetary Authority)’s certification requirement and eliminating the reference to a hurdle rate. We have completed the industry consultation and we are now formulating the relevant enhancement measures with financial regulators based on the feedback received. We target to work out the details of the proposals this year and submit the legislative proposals to the Legislative Council for consideration next year. If approved, the relevant measures will take effect from the year of assessment 2025/26, which begins on April 1 this year.
     
         Another focus area of ours is the family office sector. The growth of family offices has been particularly noteworthy, with over 2 700 single family offices operating in Hong Kong as of the end of 2023. More than half of them are managing portfolios exceeding US$50 million, and in particular, over 30 percent are managing portfolios over US$100 million, reflecting Hong Kong’s appeal to ultra-high-net-worth individuals (UHNWIs) and institutional investors alike. Backing this claim is a market report last year that ranked Hong Kong first in Asia and second in the world in terms of the population size of UHNWIs in 2023 among global cities. This is a testament to our city’s potential and capacity to attract and nurture wealth, further solidifying our position as a global wealth management and family office hub.
     
         Targeting this segment with promising growth potential, we have been implementing a series of policy measures to support the development of the family office business after we issued the Policy Statement on Developing Family Office Businesses in Hong Kong in 2023. Among others, we are fostering collaboration, networking and knowledge sharing across the family offices from around the world via the Hong Kong Academy for Wealth Legacy for the current and next generation of wealth owners.
     
         We also launched the New Capital Investment Entrant Scheme in March 2024 where Limited Partnership Funds are included as Permissible Investment Assets. As of the end of April this year, 1 257 applications have been received, potentially bringing in an investment amount of over HK$37 billion to Hong Kong.
     
    Closing
     
         Ladies, and gentlemen, Hong Kong is well-positioned to maintain and enhance its status as a leading international financial centre, notable for our certainty, transparency, and predictability. Our ongoing efforts to establish new ties, attract new capital and foster innovation will ensure our continued strength as a “super connector” in an ever-changing world.
     
         As we continue to bridge global investors with opportunities in the international and Mainland markets, we look to the HKVCA and other professionals alike to foster industry development through leveraging on our distinct advantages.
     
         On this note, I would like to thank the HKVCA again for hosting today’s event and your continued contribution to the industry. I wish you all an enjoyable and rewarding summit today. Thank you.
    Issued at HKT 12:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

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

    Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday delivered a speech at the opening ceremony of the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Economic Forum 2025.

    The following is the full text of the speech:

    Speech by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the Opening Ceremony of The ASEAN-China-GCC Economic Forum

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Distinguished Guests,

    Business Leaders, Ladies and Gentlemen,

    It gives me great pleasure to join you in Kuala Lumpur for the opening ceremony of the ASEAN-China-GCC Economic Forum.

    The ASEAN-China-GCC Summit is successfully held today. We have agreed to strengthen our trilateral partnership and ushered in a new chapter of trilateral cooperation. The leaders of participating countries have had in-depth discussions under the theme of “Synergizing Economic Opportunities Toward Shared Prosperity.” It is widely agreed that profound and complex transformations are taking place in the global political and economic landscape, the common challenges countries face in their development are increasing, and the scarcity of development opportunities makes them all the more precious, increases the urgency of cooperation, and calls for more vision. In this context, our discussions are highly relevant and should involve all related sectors, particularly the business community, so as to pool wisdom and build consensus among more stakeholders. Let me take this opportunity to share with you three observations.

    First, given everything that is going on, opportunities can be created if we join hands to meet the challenges. At present, economic globalization is suffering heavy blows never seen before. The values we pursue all along, such as peace, development and win-win cooperation, are severely challenged. Properly addressing these issues will bring significant opportunities for the countries of our three sides. Amid heightened geopolitical conflict, rivalry and confrontation, we can create long-term strategic opportunities when we deepen mutual trust and strengthen solidarity. The rapid development of Asia in the past decades offers a profound lesson: Only solidarity, mutual trust, peace and stability can bring development and prosperity. All countries are part of a close-knit community with a shared future. In the absence of mutual trust, problems may be amplified and cooperation becomes impossible. Yet with solidarity and mutual trust, we can render each other strategic support and cultivate broader and more sustainable high-standard economic cooperation, thus ensuring long-term, steady development. Amid rising protectionism and unilateralism, we can unleash enormous market opportunities when we continue to open wider and remove barriers. Countries of our three sides have all benefited from economic globalization and gained great development opportunities from integration into the world market. Our markets, when connected, will form one of the world’s largest intra-regional markets and produce a multiplier effect. Building the big market will allow our countries to reap and share more benefits. Amid more decoupling practice, supply-chain disruptions and trade barriers, we can create opportunities for transformation and upgrading when we keep sharing resources and empowering one another. Countries vary in resource endowments and industrial structure. They bring different strengths to and gain from international industrial cooperation. This will maximize the use of resources, and boost industrial performance and sustained development for all who take part.

    Second, the friendly cooperation between China, ASEAN and GCC countries has a long history and a bright future. More than 2,000 years ago, the earliest camel caravan from China reached the Middle East, and the first Chinese fleet landed in Nanyang (Southeast Asia). Ever since then, trade and people-to-people exchanges have connected us throughout over 20 centuries, strengthening and flourishing over time. These rich historical links will ensure even more successes in our future cooperation. Together, we will find greater potential for development. We are about a quarter of the world’s population and the global economy, but only about 5 percent of global trade. A lot remains untapped. As we deepen our cooperation, our trade and investment will grow continuously and uplift our nations as well as our businesses. Together, our economies will work more efficiently. When factors of production move more easily between our countries and our industries are connected more closely, the cost of energy and other resources will go down, logistics will be faster, financial services will be more efficient, and more advanced technologies will give us strong impetus. The competitiveness and resilience of our economies will grow substantially, and our development will be more efficient and secure. Together, we will create more dynamic ecosystems of innovation. We are all outstanding innovators, each excelling in our own ways. Greater cooperation will enable our innovative talents to better learn from and complement one another, and provide first-class R&D support and rich application scenarios for innovation and creation to sow the seeds for more new industries and new forms of business. This will allow us all to stand taller in the global landscape of innovation.

    The future of our trilateral cooperation is boundless like the oceans. It is upon us to take real actions in order to steer and shape it. China stands ready to work with ASEAN and GCC countries to strengthen alignment of development strategies, deepen cooperation on regional integration, and promote trade and investment liberalization and facilitation. At the same time, we must firmly uphold the WTO-centered multilateral trading system, and stand for a stable and orderly global market environment. As the ongoing scientific revolution and industrial transformation unfold, let us join hands to seize the early opportunities, expand high-tech cooperation, safeguard the stable and unimpeded industrial and supply chains, and keep breaking new ground in our common development.

    Third, with its high-quality development, China will consistently inject new impetus into the trilateral cooperation. In terms of development momentum, the Chinese economy has been growing steadily since the beginning of this year. With a year-on-year GDP growth of 5.4 percent in the first quarter, China is one of the fastest-growing major economies in the world. In the first four months of this year, we’ve seen strong development in the industrial sector, resilient export despite external pressure, and sustained expansion of new growth drivers. The figures speak for themselves: The added value of industrial enterprises above the designated size grew by 6.4 percent year-on-year; export increased by 7.5 percent compared with the same period last year; the added value of high-tech manufacturing and the investment in high-tech services went up by 9.8 percent and 11.3 percent year-on-year respectively; and production and sales of new energy vehicles both exceeded four million. Smart factories now cover more than 80 percent of the manufacturing sectors. These achievements speak volumes about the great stability of the Chinese economy. As President Xi Jinping said, the Chinese economy is not a pond, but an ocean. This vast ocean can withstand fierce winds and heavy rains. Each storm weathered only deepens its resilience and makes it more open and inclusive.

    In terms of macro policies, facing risks and challenges from the external environment, we made clear that more proactive and effective macro policies will be implemented and that a more proactive fiscal policy and an appropriately accommodative monetary policy will be adopted. Fiscal expenditures hit a record high and the regulation of monetary and financial aggregates has been significantly strengthened, providing a strong underpinning for the expansion of aggregate demand. Going forward, we will continue to strengthen counter-cyclical adjustments in light of the changing circumstances. Whatever challenges lie ahead in the future, we have the capability and confidence to maintain the steady and long-term development of the Chinese economy.

    In terms of strategic goals, China is a super-sized economy that enjoys the unique strength of major economies, i.e., domestic demand is the main driver and domestic circulation is possible. We are increasingly placing our strategic priority on expanding domestic demand and strengthening domestic circulation with a view to enhancing the internal driving force of the Chinese economy. We have accelerated efforts to implement the strategy of expanding domestic demand and have launched special initiatives to boost consumption. As more policy resources are given to consumption, a huge demand potential will be unleashed. We are also further deepening reform comprehensively and accelerating the high-end, smart and green industrial transformation, which will create new, additional demand. The Chinese economy is of great breadth and depth, which can provide a huge market for quality products from all over the world. We will stay committed to expanding high-standard opening up, take more measures to advance voluntary and unilateral opening up, and enable domestic and international circulations to reinforce each other, so that companies across the world, including those from ASEAN and GCC countries, can fully share in the opportunity of China’s development.

    Ladies and Gentlemen,

    Friends,

    Cooperation is the only right way to overcome common challenges. China stands ready to work together with ASEAN and GCC countries to embrace greater openness and cooperation, promote steady economic growth, and join hands to synergize economic opportunities toward shared prosperity. Thank you.

    MIL OSI China News –

  • MIL-OSI China: US stocks advance as Trump eases EU tariff threat

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

    U.S. stocks ended higher on Tuesday, after U.S. President Donald Trump softened his stance on tariff threats toward the European Union, signaling that trade negotiations were regaining momentum.

    The Dow Jones Industrial Average rose 740.58 points, or 1.78 percent, to 42,343.65. The S&P 500 added 118.72 points, or 2.05 percent, to 5,921.54. The Nasdaq Composite Index increased by 461.96 points, or 2.47 percent, to 19,199.16.

    All of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and technology leading the gainers by rising 3.04 percent and 2.55 percent, respectively. Utilities posted the weakest growth, up by 0.77 percent.

    Over the weekend, Trump announced he would delay a planned 50 percent tariff on EU imports until July 9, following a request from European Commission President Ursula von der Leyen. The delay came after Trump had previously proposed implementing the levy on June 1.

    U.S. National Economic Council Director Kevin Hassett told CNBC’s Squawk Box that he anticipates more trade deals could be finalized this week.

    Investor optimism was also buoyed by stronger-than-expected U.S. consumer confidence data for May, with hopes for trade resolutions helping lift sentiment. According to The Conference Board, U.S. consumer sentiment improved across all age and income groups, signaling a broad recovery in outlook.

    On the corporate front, Tesla jumped 6.94 percent after its CEO Elon Musk said he was shifting focus away from political distractions and back to his business ventures. U.S. Steel climbed nearly 2 percent after CNBC reported that Japan’s Nippon Steel is close to finalizing its 55-U.S.-dollars-per-share acquisition of the company.

    The rally marked a strong start to the shortened trading week, as markets reopened following the Memorial Day holiday. The advance was broad-based, with over 90 percent of S&P 500 stocks closing higher, and small-cap stocks also rallied, pushing the Russell 2000 index up 2.48 percent.

    Tuesday’s gains came after a tough week for Wall Street, where all three major indexes — the Dow, S&P 500, and Nasdaq — fell more than 2 percent on fears sparked by Trump’s initial tariff threats toward the EU.

    “It seems like the long holiday weekend only built up momentum for today’s sharp rebound,” said Dann Ryan, managing partner at Sincerus Advisory. “The trade tensions that briefly flared up have already cooled down — and now it looks like negotiations are moving into the fast lane.”

    U.S. Treasury bonds spearheaded a broader decline in global bond yields on Tuesday, as markets welcomed signs that Japan may take steps to stabilize its bond market, which recently saw long-term government debt yields spike to multi-decade highs. The 30-year U.S. Treasury yield eased back to around 4.94 percent.

    Attention is now shifting to a busy week of economic data releases, as well as upcoming comments from Federal Reserve officials, who are widely expected to maintain current interest rates, consistent with previous guidance. Meanwhile, Trump’s controversial tax bill remains in focus after narrowly clearing the House of Representatives last week.

    Nvidia rose 3.21 percent following reports that the company is preparing to release a lower-cost AI chip for China, just ahead of its highly anticipated earnings report on Wednesday, one of the most closely watched of the quarter. Other companies set to report this week include Okta, Macy’s, and Costco. According to FactSet, over 95 percent of S&P 500 companies have reported earnings this season, with nearly 78 percent exceeding analysts’ expectations. 

    MIL OSI China News –

  • MIL-OSI China: From wastelands to wonders: China revives abandoned mines for sustainable future

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

    Tianchi Lake at Baihu Mountain in east China’s Shandong Province features expansive water shimmering with rippling blue waves, and pale purple paulownia flowers blooming along its steep rocky shores.

    It’s hard to imagine that this tranquil and beautiful landscape was once a barren quarry pit. “Windstorms used to whip up dense dust clouds, obscuring the colors of leaves and flowers,” recalled 62-year-old villager Wang Yunhe in Hetaoyuan, a town with 22 mountains and an estimated 1.19 billion tonnes of rock reserves.

    As one of the world’s most mineral-rich nations, China contains over 150,000 mines occupying millions of hectares of land. Upholding the concept that clear waters and green mountains are valuable assets, the country has implemented multiple measures to advance the ecological rehabilitation of abandoned mines in recent years, aiming for win-win outcomes in terms of ecological, economic and social benefits.

    ECOLOGICAL TRANSFORMATION

    According to Shang Baoling, a former local official, quarrying had become the dominant industry in Hetaoyuan since the 1990s. Nearly 50 lime kilns were built, with over 2,000 villagers relying on stone mining for their livelihoods.

    Rapacious mining boosted local economies temporarily, but later caused significant ecological damage. “These mountains, originally over 180 meters tall, were excavated to depths exceeding 40 meters below ground level — ultimately transforming verdant peaks into desolate quarries,” Shang said.

    In 2015, authorities of Juye County, which administers Hetaoyuan, enacted a comprehensive mining ban, shuttering all quarries and lime kilns. Years of dedicated reforestation have since transformed 18,000 mu (1,200 hectares) of mining wastelands and slopes into thriving ecosystems, where crabapple, cherry blossoms, paulownia flowers and other flora now bloom in seasonal cycles.

    Many greening workers employed in this effort were former miners from local villages. “Several villagers told me the changes have been tremendous,” Shang added.

    Tourists ride sightseeing boats in the Baihu Mountain scenic spot in Hetaoyuan Town of Heze, east China’s Shandong Province, May 16, 2025. (Photo by Zang Dongming/Xinhua)

    Such transformations are occurring across China. By the end of 2024, over 333,300 hectares of abandoned mines had been rehabilitated — including 26,200 hectares newly restored in 2024 alone.

    This year’s government work report said China will “accelerate the green and low-carbon transition,” listing “strengthening ecological conservation and restoration” as a key priority.

    AGRICULTURAL GOLDMINE

    Nationwide, abandoned mines with geographical and resource advantages are being repurposed for agricultural and other industrial development, creating new economic opportunities for local residents. Taobei Village in Shandong’s capital city of Jinan, for example, rehabilitated its abandoned quarry, a low-lying area littered with rubble, turning it into a medicinal herb cultivation base several years ago.

    “We have developed cultivation of over 10 medicinal herbs, including astragalus and Chinese sage, with an annual production capacity reaching 4 million plants,” said Tao Changguo, director of the village committee.

    Local authorities have also introduced specialized planting cooperatives, establishing processing workshops for medicinal herbs, and facilities for sorting, packaging and fresh storage. These initiatives have boosted local employment while generating more than 200,000 yuan (about 27,825.7 U.S. dollars) in additional annual income for the cooperatives.

    In 2008, as local environmental restoration efforts began, a long-abandoned mining pit in China’s eastern coastal city of Qingdao found new life as a vineyard and winemaking hub, thanks to its prime location on the same latitude as Bordeaux in France.

    “The barren yet well-draining soil here enhances grape acidity and phenolic content, while the scattered rocks in the earth contribute abundant organic minerals,” said Yan Zhigang, deputy general manager of a local wine company.

    According to Yan, the company’s vineyard spans approximately 3,000 mu of reclaimed mining land, where grapes are cultivated on former wasteland and abandoned pits have been repurposed into wine cellars. With an annual production volume of nearly 500,000 bottles, their wines are exported to multiple countries and regions including Europe, Southeast Asia and Japan.

    TOURISM BOOM

    After two decades of relentless efforts, Anji, a small county in east China’s Zhejiang Province, is now successfully transforming its ecological advantage into tangible wealth.

    Launched in 2022, Deep Blue Coffeehouse, located on a 300-mu disused mine near a natural lake in Hongmiao Village of Anji, has now become a social media sensation, drawing 600,000 visitors yearly and earning 20 million yuan in its first year.

    This aerial photo taken on April 7, 2023 shows the Deep Blue Coffeehouse located near an abandoned mine in Hongmiao Village of Anji County in Huzhou, east China’s Zhejiang Province. (Xinhua/Weng Xinyang)

    This Scandinavian-style outdoor cafe made headlines in 2024 when it set a new national record for single-day sales at an independent coffee shop — serving an impressive 8,818 cups of coffee in just 24 hours.

    “It’s less about selling coffee and more about selling the scenery and leisure itself,” said Cheng Shuoqin, owner of the coffee shop.

    In recent years, with the deepening integration of ecological restoration and cultural tourism, an increasing number of once-barren industrial sites have been revitalized through scientific planning and innovative design. These transformed spaces now serve not only as eco-parks and tourist destinations but also feature diverse business models, such as countryside-style farm stays, thrilling amusement parks and immersive performance venues.

    At the Huaxia City Scenic Area, located in the city of Weihai in Shandong, Zhou Liming was driving tourists through lush forests and flower fields. A resident from a nearby village, Zhou currently works as a sightseeing vehicle operator in the area. According to Zhou, this area was once nothing but a quarry pockmarked with 44 mining pits of various sizes.

    Since 2003, Weihai has implemented a comprehensive initiative across abandoned mining zones as a strategy for sustainable development. Through reclaiming nearly 4,000 mu of devastated mountains, constructing 35 reservoirs and planting 12.27 million trees, this transformed landscape ultimately gave birth to a thriving tourist resort.

    An aerial drone photo shows a view of the Huaxia City Scenic Area in Weihai, east China’s Shandong Province, May 26, 2025. (Photo by Zhang Hao/Xinhua)

    In the scenic area, an abandoned mining ravine has been transformed, featuring masterpieces of Chinese calligraphy from successive dynasties carved into its towering cliff walls on both sides. A preserved mining village and pit relics remind visitors of the importance of ecological conservation. At a rehabilitated mining site, audiences can now watch an immersive live performance aboard a giant ship, with the actual mountains, water and sky forming a breathtaking natural backdrop.

    In 2024, the scenic area welcomed 2.04 million visitors, generating total revenue of 124 million yuan. During this year’s May Day holiday alone, it attracted 82,000 tourists with holiday earnings reaching 6.65 million yuan.

    “Now, driving a sightseeing vehicle in the scenic area earns me 60,000 yuan annually. This is the good life that our lush mountains and clear waters have brought us!” Zhou said. 

    MIL OSI China News –

  • Foreign Secretary Misri in US to strengthen strategic tech and trade ties

    Source: Government of India

    Source: Government of India (4)

    Foreign Secretary Vikram Misri met with US Under Secretary Jeffrey Kessler in Washington on Tuesday to discuss convening the India-US Strategic Trade Dialogue at an early date and to explore deeper cooperation in critical and emerging technologies.

    The meeting is seen as a step forward in bolstering high-level collaboration between India and the United States in strategically vital sectors. Discussions focused on reinforcing existing institutional frameworks and accelerating joint initiatives in technology and trade.

    The Indian Embassy in Washington posted on X, stating, “Foreign Secretary Vikram Misri met Under Secretary Jeffrey Kessler to advance India-US cooperation in critical & emerging technologies. They also discussed early convening of the India-US Strategic Trade Dialogue to deepen tech & trade collaboration.”

    Misri is currently on a three-day visit to the US, during which he will engage with senior members of the Trump administration. According to the Ministry of External Affairs (MEA), the visit follows up on Prime Minister Narendra Modi’s official trip to the US in February 2025.

    That visit marked the launch of the ‘India-US COMPACT’—Catalysing Opportunities for Military Partnership, Accelerated Commerce and Technology—a strategic framework introduced by PM Modi and US President Donald Trump to expand collaboration in defense, trade, and technology.

    It was Modi’s first trip to the US since Trump’s second inauguration in January 2025. He was among the first world leaders invited by the new administration, visiting within three weeks of the swearing-in.

    The visit also comes amid President Trump’s recent remarks claiming credit for mediating a ceasefire agreement between India and Pakistan earlier this month. However, Indian officials have strongly refuted the claim.

    New Delhi maintains that the ceasefire came about due to Pakistan’s appeals following intense Indian military operations during Operation Sindoor, which targeted Pakistani air bases. Officials have underscored that the pressure from India’s offensive left Islamabad with little choice but to seek de-escalation.

    External Affairs Minister S. Jaishankar clarified last week that while the US had reached out to India between May 7 and 10, it was not acting alone, and multiple countries had engaged with New Delhi during the period.

    -IANS

  • MIL-OSI: GDS Announces Proposed Offering of US$450 Million Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company plans to use the net proceeds from the Notes Offering for working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    When issued, the Notes will be senior unsecured obligations of GDS. The Notes will mature on June 1, 2032, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.

    Prior to the close of business on the business day immediately preceding December 1, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain periods. On or after December 1, 2031 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at their option at any time. Upon conversion, the Company will pay or deliver, as the case may be, cash, the Company’s American depositary shares, each representing eight Class A ordinary shares (the “ADSs”), or a combination of cash and ADSs, at the Company’s election. Holders may also elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, subject to certain procedures and conditions set forth in the terms of the Notes. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

    The Company may redeem for cash all but not part of the Notes (i) in the event of certain tax law changes (a “Tax Redemption”) and (ii) if less than 10% of the aggregate principal of amount of notes originally issued (for the avoidance of doubt, including the notes issued upon the exercise of the initial purchasers’ option to purchase additional notes) remains outstanding at such time (a “Cleanup Redemption”). The Notes will not be redeemable before June 6, 2029, except in connection with a Tax Redemption or Cleanup Redemption. On or after June 6, 2029 and on or prior to the 40th scheduled trading day immediately prior to the maturity date, the Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, if (x) the notes are “freely tradable” (as will be defined in the indenture for the Notes), and all accrued and unpaid additional interest, if any, has been paid in full, as of the date we send such notice and (y) the last reported sale price of the ADSs has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date the Company provides notice of redemption and (ii) the trading day immediately preceding the date the Company sends such notice (such redemption, an “Optional Redemption”). The redemption price in the case of a Tax Redemption, Cleanup Redemption or an Optional Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.

    Holders of the Notes may require the Company to repurchase for cash all or part of their Notes on June 1, 2029. In addition, holders of the Notes have the option, subject to certain conditions, to require the Company to repurchase any Notes held in the event of a “fundamental change” (as will be defined in the indenture for the Notes). The repurchase price, in each case, will be equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.

    The Company expects that certain purchasers of the Notes may establish a short position with respect to its ADSs by short selling its ADSs or by entering into short derivative positions with respect to its ADSs (including entering into derivatives with an affiliate of an initial purchaser in the Notes Offering), in each case, in connection with the Notes Offering. Any of the above market activities by purchasers of the Notes could increase (or reduce any decrease in) or decrease (or reduce any increase in) the market price of the Company’s ADSs or the Notes at that time, and the Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or its ADSs.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with the ADS Borrower pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof, have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –

  • MIL-OSI: Brooge Energy Limited Announces Proposed Sale of BPGIC FZE and BPGIC Phase III FZE

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, May 27, 2025 (GLOBE NEWSWIRE) — Brooge Energy Limited, (“BEL“) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, today announced entering into a conditional sale and purchase agreement (the “Acquisition Agreement“) for the proposed sale of 100% of the total issued share capital of each of Brooge Petroleum and Gas Investments Company FZE (“BPGIC FZE“) and Brooge Petroleum and Gas Investment Company Phase III FZE (“BPGIC Phase III FZE“, collectively with their subsidiaries referred to as the “BPGIC Group“), to Gulf Navigation Holding PJSC (“GulfNav“) (the “Transaction“).

    Key highlights:  This acquisition is part of GulfNav’s long-term vision to become a key player in the energy sector by expanding its storage and logistics capabilities with BPGIC Group’s state-of-the-art infrastructure, which includes advanced facilities for the storage of fuel oil, crude oil, and petroleum products. These assets will complement GulfNav’s existing operations and allow them to provide an integrated storage and transportation solution. The integration of the two businesses is expected to drive operational efficiencies, enhance service offerings, and create substantial value for stakeholders.

    BEL’s Board of Directors commented, “We are pleased to be nearing the closing of our strategic transaction with GulfNav. After careful diligence by both parties, we have outlined the proposed terms and conditions the Board believes is in the best interest of ensuring long-term value creation for our shareholders.”

    Principal Terms and Conditions of the Acquisition Agreement

    Consideration Structure  

    The total consideration (the “Consideration“) payable under the Transaction amounts to c. USD 884 million (AED 3,245,000,000). This Consideration will be satisfied through the following means:

    1. Cash Consideration: c. USD 125.3 million (AED 460,000,000) in cash, which will be paid as follows:
      1. c. USD 65 million (AED 239,650,000) will be paid into the Completion Escrow Account (subject to any deductions of transaction expenses and for known leakage (if any)); and
          1. c. USD 60 million (AED 220,350,000) will be paid into an escrow account for the benefit of ASMA Capital Partners B.S.C.(c) (“ASMA“) in connection with the settlement of certain outstanding liabilities of BPGIC Holdings Limited (under liquidation) to ASMA’s subsidiary, MENA Energy Services Holdings Limited, in order to facilitate the conclusion of the Transaction.
            1. Consideration Shares: The allotment and issue on completion of 358,841,476 ordinary shares in the share capital of GulfNav, credited as fully paid, at a price of USD 0.34 (AED 1.25) per share, with a total subscription price of c. USD 122 million (AED 449 million).    
            1. Mandatory Convertible Bonds: c. USD 636 million (AED 2,336 million) to be satisfied by the issue by GulfNav on completion of Mandatory Convertible Bonds, which will convert into ordinary shares in the share capital of GulfNav in accordance with the terms of such Mandatory Convertible Bonds. The Mandatory Convertible Bonds (upon their conversion into shares in GulfNav) will entitle the holder to the same economic benefits as the Consideration Shares.

            The Consideration Shares and any Mandatory Convertible Bonds which will convert into shares in the share capital of GulfNav will be subject to a 12-month lock-up period from their date of issuance or conversion, as the case may be.

            The Consideration is expected to be distributed by way of dividend at an appropriate time following completion.

            Conditions to completion of the Transaction

            Under the terms of the Acquisition Agreement, completion of the Transaction is conditional upon customary conditions, including:

            (a)                Shareholder Approval – GulfNav’s shareholders passing a special resolution to approve the amendment of its articles of association to remove any foreign ownership restrictions;

            (b)               Regulatory Approval – GulfNav obtaining all necessary regulatory approvals of the Transaction, including an mandatory tender offer waiver, issuance and transferability of the Mandatory Convertible Bonds and the admission of the Consideration Shares;

            (c)                GulfNav Consents – GulfNav obtaining written consent to the Transaction from certain third parties;

            (d)               First Mandatory Convertible Bond Offering – GulfNav successfully completing a capital raise (via the issuance of mandatory convertible bonds to existing shareholders) in order to fund the Cash Consideration element of the Consideration;

            (e)                BEL Consents – BEL obtaining written consent to the Transaction from certain third parties, including bondholders;

            (f)                Settlement of Claims – BEL entering into formal agreements for the full and final settlement of certain claims related to the BPGIC Group; and

            (g)               Commercial Registration – completion of the commercial registration process with the Fujairah Free Zone Authority to transfer the shares of the BPGIC Group by BEL to GulfNav.

            Other noteworthy terms

            BEL and GulfNav will each provide a customary set of warranties, as is typical in transactions of similar nature. 

            Completion is expected to occur within five Business Days after the satisfaction (or, if capable of waiver, waiver) of any applicable conditions in accordance with the terms of the Acquisition Agreement.

            BEL and GulfNav will endeavor to complete the Transaction as soon as practicable, and in any event prior to the Long Stop Date, being the date falling three months from the date of the Acquisition Agreement unless otherwise agreed by the parties.

            Following completion, each  party is expected to have pro-rata representation on the board of directors of GulfNav in accordance with applicable laws and regulations in the United Arab Emirates.

            BEL expects to provide further information regarding the distribution of the Consideration to BEL’s shareholders and other beneficiaries nearer the time of completion.  The Consideration Shares and Mandatory Convertible Bonds and other securities of GulfNav have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act“), and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to the registration requirements of the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

            About Brooge Energy Limited

            BEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses.

            About Gulf Navigation Holding PJSC

            GulfNav is a prominent maritime and shipping company based in Dubai, UAE. With a diverse fleet and comprehensive services, GulfNav is committed to delivering excellence in the maritime industry.

            Forward-Looking Statements

            This press release contains statements that are not historical facts and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

            Investor Contact
            KCSA Strategic Communications
            Valter Pinto, Managing Director
            +1 212-896-1254
            BROG@kcsa.com

        The MIL Network –

  • MIL-OSI Russia: Dalian Port Resumes International Cruise Ship Departures After 5-Year Break

    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

    DALIAN, May 27 (Xinhua) — The international cruise ship Adora Mediterranea set sail from the port of Dalian in northeast China on Tuesday evening, marking the resumption of international cruise services from the port after a five-year hiatus.

    The ship departed from Dalian International Cruise Center with 2,618 passengers on board. The cruise route includes popular destinations such as the Japanese cities of Fukuoka and Sasebo, as well as Jeju Island in the Republic of Korea.

    The 292m long Adora Mediterranea, with a gross tonnage of 86,000 gross tons, can accommodate up to 2,680 passengers, offering guests 1,057 cabins and suites.

    According to Adora Cruises Limited Business Development Director Guo Jia, the ship is scheduled to make a total of five international voyages from its home port of Dalian during peak seasons in May, June and September. Each voyage will last five days and four nights, she said. –0–

    MIL OSI Russia News –

  • MIL-OSI Security: Dunklin County Woman Sentenced for Aiding $565,000 Fraud

    Source: Office of United States Attorneys

    CAPE GIRARDEAU – U.S. District Judge on Tuesday sentenced a money mule to fifteen months imprisonment for moving $565,000 in stolen funds.  

    Sheri L. Reeves acted as a money courier or “money mule,” transferring money obtained by fraud to others. On June 9, 2020, Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas, and later added the name of the fraud victim to the account. Reeves’ co-conspirators used fraudulently obtained account information to access the victim’s account and transfer a total of $565,000 to Reeves’ account. She then sent the money to others using cashier’s checks obtained in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM in Dunklin County.  She also sent her account information to others and withdrew or attempted to withdraw the proceeds in cash or by check, her plea agreement says.

    Despite being warned by the FBI, Reeves continued to assist in the commission of financial crimes.  

    Reeves, 55, of Kennett, in Dunklin County, pleaded guilty in November in U.S. District Court in Cape Girardeau to one count of aiding and abetting bank fraud, one count of conspiracy to commit wire and mail fraud and one count of wire fraud. In addition to the sentence of fifteen months imprisonment, Reeves was ordered to pay $565,000 in restitution to the Bank of America, and to serve a term of five years supervised release upon her release from imprisonment.  

    The case was investigated by the FBI. Assistant U.S. Attorney Paul Hahn prosecuted the case.

    If you believe you are participating in a money mule scheme or a victim of one, please contact the FBI’s Internet Crime Complaints Center at ic3.gov or contact your local FBI office.

    MIL Security OSI –

  • MIL-OSI USA: Texas Man Pleads Guilty to Employment Tax Crimes

    Source: US State of California

    A Texas man pleaded guilty today before Magistrate Judge Richard W. Bennett for the Southern District of Texas to not reporting and paying over employment taxes that his company withheld from its employees’ paychecks. The plea must be accepted by a U.S. district court judge.

    The following is according to court documents and statements made in court: Joseth “Joe” Limon, of Harris County, owned and operated Platinum Employment Group Inc., a company that supplied laborers to businesses in the Houston area. From 2013 through 2018, Platinum did not file employment-tax returns, and, according to its payroll records, did not pay more than $8.8 million in employment taxes. The timely payment of these taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

    After closing Platinum, he set up another labor-staffing company, Rockwell Staffing LLC, in the name of his then 18-year-old daughter. When he later found out that the IRS was attempting to collect Rockwell’s unpaid employment taxes, he caused his daughter to submit an affidavit to the IRS that falsely claimed that Rockwell had been a victim of identity theft and had no employment tax liability.

    Limon is scheduled to be sentenced on Aug. 6. He faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Nicholas J. Ganjei for the Southern District of Texas made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Curtis Weidler of the Tax Division and Assistant U.S. Attorney Shirin Hakimzadeh for the Southern District of Texas are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement on the First Review under El Salvador’s Extended Fund Facility Arrangement

    Source: IMF – News in Russian

    May 27, 2025

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

    • IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the 40-month extended arrangement under the Extended Fund Facility (EFF). Subject to approval by the IMF Executive Board, El Salvador would receive nearly US$120 million (SDR 86.16 million).
    • Program performance has been strong. Key fiscal and reserve targets were met with margins and substantial progress continues in the ambitious reform agenda in the areas of governance, transparency, and financial resilience.
    • Continued implementation of the fiscal consolidation plan and structural agenda remains critical to address macroeconomic imbalances and create conditions for stronger and more sustainable growth.

    Washington, DC: IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the country’s extended arrangement under the Extended Fund Facility (EFF). They also finalized discussion on the 2025 Article IV consultation focused on boosting El Salvador’s medium-term growth prospects.

    Upon the conclusion of these discussions Mr. Cubeddu, Deputy Director of the Western Hemisphere Department, and Mr. Torres, Mission Chief for El Salvador, issued the following statement:

    “IMF staff have reached staff-level agreement with the Salvadoran authorities on the first review under the 40-month EFF arrangement.[1] The agreement is subject to approval by the IMF’s Executive Board, and contingent on the implementation of the agreed prior actions.

    “The authorities have made significant progress in implementing their economic reform plan under the IMF-supported program. Most program targets set for the first review were comfortably met, and implementation of the structural benchmarks is progressing well.  Meanwhile, despite a more challenging external backdrop, El Salvador’s economy continues to expand supported by improved confidence and still robust remittances. Prudent policies and more favorable terms of trade have led to reduction in inflation and the current account deficit.

    Against the backdrop of early strong program implementation, understandings have been reached on policies to continue to secure program objectives, including with the technical support from the Fund and other development partners:

    • The fiscal consolidation will continue this year through cuts in the wage bill and current spending restraint, and plans are being developed to reform the civil service and the pension systems to underpin the adjustment beyond this year. This will be supported by the new Fiscal Sustainability Law, which is expected to be enacted shortly.
    • External buffers will be strengthened further through the accumulation of government deposits at the Central Bank, supported by financing from International Financial Institutions and fiscal discipline. Meanwhile, bank liquidity requirements will be raised in line with program commitments, while bank oversight is strengthened, including of cooperatives.
    • Following the adoption of the Anti-Corruption Law, attention will now focus in securing its proper and timely implementation to complement ongoing efforts to enhance governance, accountability, and transparency, including of the fiscal accounts of the overall public sector.
    • On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged, consistent with program commitments, while also securing the unwinding of the public sector’s participation in the Chivo wallet by end-July.

    There is a shared understanding that steadfast program implementation and agile policy making, in the context of rising global uncertainties, remain critical to further entrench stability and lay the foundation for stronger and more sustainable growth. IMF staff thank the Salvadoran authorities for the excellent collaboration and constructive discussions.”

    [1] The EFF was approved by the IMF Executive Board on February 26, 2025, with total access of SDR 1033.92 million (about US$1.4 billion or 360 percent of quota), and initial disbursement of SDR 86.16 million. Other official creditors committed to provide additional financial support for a combined total of roughly US$3.5 billion.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/05/27/pr-25162-el-salvador-imf-reaches-agreement-on-the-1st-rev-under-eff

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Equinor ASA: Execution of debt capital market transactions

    Source: GlobeNewswire (MIL-OSI)

    On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions:

    • Issue of USD 550 million 4.25% Notes due June 2, 2028
    • Issue of USD 400 million 4.50% Notes due September 3, 2030
    • Issue of USD 800 million 5.125% Notes due June 3, 2035

    The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company.

    The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions.

    Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective.

    Further information from:

    Investor relations:
    Bård Glad Pedersen, Senior Vice President, Investor Relations,
    +47 918 01 791

    Press:
    Rikke Høistad Sjøberg, Media Relations,
    +47 901 01 451

    Finance:
    Sverre Serck-Hanssen, Vice President, Capital Markets,
    +47 951 68 342

    This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI: DMG Blockchain Solutions Inc. Announces Enablement of Carbon Neutral Bitcoin Transactions via Systemic Trust Company

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated data center and digital asset technology company, announces that DMG’s digital asset custody subsidiary, Systemic Trust Company (“STC”) has added the capability to send bitcoin in a regulatory compliant and carbon neutral manner.

    This enablement is the keystone that bridges the key pillars of DMG’s carbon-neutral Bitcoin ecosystem – STC, whose platform is built on Fireblocks’ custody solution, and Terra Pool, the world’s first carbon neutral Bitcoin mining pool. By utilizing Fireblocks, a proven and trusted solution for wallet infrastructure, users can be assured of the security and integrity of their digital asset holdings when they are stored and subsequently sent. In turn, DMG’s Petra technology empowers bitcoin transactions from STC’s Petra-enabled wallets to be sent via Terra Pool, which removes the risk of commingling with nefarious actors and utilizes energy from carbon neutral energy sources, a highly sought after capability increasingly demanded by financial institutions globally.

    DMG’s CEO, Sheldon Bennett, commented: “Integrating Petra technology with Fireblocks’ custody solution achieves a key milestone for enabling DMG’s carbon neutral Bitcoin ecosystem, as it allows not only Systemic Trust being able to send bitcoin in a regulatory-compliant and carbon neutral manner but also the much larger ecosystem of Fireblocks’ 2000+ customers. Our goal remains to provide financial institutions, government and enterprises choice as to how they transact bitcoin, and this is a key advancement that can broadly give them that choice, all the while advancing our burgeoning collaboration with Fireblocks.”

    About Terra Pool

    Terra Pool is the world’s first carbon neutral Bitcoin mining pool, designed to reward miners with carbon neutral bitcoin. It plays a crucial role in advancing a carbon neutral Bitcoin ecosystem. When integrated with DMG’s subsidiary, Systemic Trust, a digital asset custodian, financial institutions and content creators gain the ability to send bitcoin in a regulatory-compliant and carbon neutral manner.

    About Systemic Trust Company

    Systemic Trust Company is a qualified custodian fully regulated under the Alberta Loans and Trust Corporations Act, ensuring client digital assets are managed with the highest standards of compliance and security. Systemic Trust combines regulatory compliance, cutting-edge technology and robust insurance coverage to deliver the ultimate digital asset custody experience.

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon neutral Bitcoin ecosystem, which offers financial institutions the choice to send bitcoin in a regulatory-compliant and sustainable manner.

    For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

    Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, the potential and expectations of STC and Terra Pool, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company’s products and services, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs (which includes energy costs), increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network –

  • MIL-OSI Global: How ongoing deforestation is rooted in colonialism and its management practices

    Source: The Conversation – France – By Justine Loizeau, Postdoctoral research fellow in sustainability and organization, Aalto University

    As early as 1917, the Michelin company invested in plantations to produce rubber in what is now Vietnam. Here, hevea trees are seen in Southeast Asia in 1913. W. F. de Bois Maclaren, The Rubber Tree Book.

    Half of the world’s forests were destroyed during the 20th century, with three regions mainly affected: South America, West Africa and Southeast Asia. The situation has worsened to the point that, in 2023, the European Parliament voted to ban the import of chocolate, coffee, palm oil and rubber linked to deforestation.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    A long-standing dependence on raw materials

    These products are at the heart of our economies and consumption habits. The case of rubber is particularly emblematic. Without this material, there would be no tyres and, thus, no cars, bicycles, sealing joints or submarine communication cables. Industrial rubber production depends on extracting latex, a natural substance that rubber trees such as hevea produce. Under pressure from corporations and states, Brussels last October announced a one-year postponement of its law regulating rubber imports.

    This dependence on the rubber industry is not new. Rubber was central to the second industrial revolution, especially with the rise of automobiles and new management methods. While this history often centres on factories, citing contributions from figures such as Frederick Taylor and Henry Ford and industrial giants like Michelin, its colonial roots are less well known.

    Indeed, rubber – like the other resources mentioned above – has been and continues to be primarily produced in former colonial territories. In many cases, rubber trees are not native to the regions where they have been cultivated. Rubber seeds from South America, where latex was already extracted by picking, were transported by colonists to empires for the development of plantations. In particular, the French colonial empire, spanning Africa and Southeast Asia, saw a significant expansion of hevea plantations at the expense of primary forests. Monocultures of rubber trees replaced thousands of hectares.

    Ford in the Amazon, Michelin in present-day Vietnam

    This management model was favoured because it allowed for lower extraction costs from the coloniser’s perspective. For example, in 1928, Henry Ford negotiated an agreement with the Brazilian government granting him a 10,000 km2 concession of forest land to establish Fordlandia, a settlement designed to produce the rubber needed for his factories. However, this industrial utopia in the Amazon failed due to resistance from Indigenous people and a fungal disease that ruined the plantations.

    Business Insider reports on the Fordlandia fiasco.

    Following the same model, Michelin invested in plantations in present-day Vietnam as early as 1917. The plantation model and new management methods reduced the cost of rubber production and accelerated its global distribution. These management practices spread across the British, Dutch and French empires, becoming dominant in Southeast Asia in the early 20th century at the expense of primary forests.



    À lire aussi :
    Allowing forests to regrow and regenerate is a great way to restore habitat

    The ‘Taylorization’ of work and nature

    Rubber plantations resulted from applying Taylorism not only to workers – especially colonised workers – but also to nature. Both people and trees were subjected to a so-called “scientific” organisation of labour. In our article, L’arbre qui gâche la forêt The Tree That Spoils the Forest, published in the Revue française de gestion (French Journal of Management) in 2024, we analysed historical archives, including a variety of newspapers from 1900 to 1950, covering national, local, colonial and thematic (scientific, cultural, etc.) perspectives. We show that this organisational model is based on an accounting undervaluation of indigenous people’s labour and of nature. This undervaluation is embodied in the metric of the cost price (i.e. the total cost of production and distribution) and in the shared concern to see it lowered. “Ultimately, it’s the cost price that must determine the fate of rubber,” stated the newspaper L’Information financière, économique et politique on February 1, 1914.

    In the eyes of some, Asians who were labelled as “coolies” and Brazilian “seringueiros” comprised a low-cost labour pool, with no mention of their working conditions and despite very high mortality rates. “Coolie” is a derogatory colonial term that refers to agricultural labourers of Asian heritage, while “seringueiros” refers to workers in South American rubber plantations.

    “By the way, in the Far East, there are reservoirs of labour (Java Island, English Indies), which supply plantations with workers who, while not the most robust, provide regular work at a very advantageous cost price.” (L’Information financière, économique et politique, November 11, 1922)

    Concerning trees, only the plantation costs were considered, silencing the human and ecological costs of primary forest destruction.

    “In the first year, some 237 francs will have to be spent on the clearing itself; then the planting, with staking […] and weeding, will represent an expense of 356 francs. […] For the following years, all that remains to be done is to consider the maintenance costs, cleaning, pruning, care, supply of stakes, replacement, etc. This will result in an expenditure of 1,250 francs for the first five years.” (L’Information financière, économique et politique, January 31, 1912)

    The ‘Cheapization’ of life

    The focus on cost price leads to standardisation of management practices by aligning with what is cheapest, at the expense of ever more intense exploitation of human and non-human workers. In other words, these assumptions about the construction of accounting metrics and the circulation of these metrics play a role in the “cheapization” of human and non-human labour. We borrow the concept of “cheapization” from the environmental historian Jason W. Moore. In his view, the development of capitalism is marked by a “cheapization of Nature”, which includes, within the circuits of capitalist production and consumption, humans and non-humans whose work does not initially have a market value. Living beings are thus transformed into a commodity or factor of production: “animals, soils, forests and all kinds of extra-human nature” are being put to work.



    À lire aussi :
    What actually makes avocados bad for the environment?

    Why does this colonial past matter?

    These ways of managing people and nature continue to this day. Many industries still rely on the extraction of natural resources at low cost and in large quantities in the countries of the global south. Rubber is not the only resource whose exploitation dates to the Industrial Revolution: palm oil, sugar, coffee and cocoa have also had, and still have, an impact on the forests of the global south and are based on the work of local people. The exploitation of these resources is also often the fruit of colonial history. In 1911, the Frenchman Henri Fauconnier brought the first palm oil seeds, a plant originally from Africa, to Malaysia. More than a century later, the country remains a leading palm oil producer, a resource largely responsible for the deforestation of primary forests.

    Beyond the case of rubber alone, we question the link between the pursuit of profit in formerly colonised territories, the destruction of the environment and the exploitation of local populations on two levels. Not only are primary forests destroyed to feed short-term profits, but habituation to this mode of environmental management is a historical construct. We must remember this when looking at news from countries with colonial pasts. Whether we’re talking about preserving the Amazon rainforest, poisoning soil and human bodies with chlordecone in the Antilles, or building a pipeline in Uganda, we need to take a step back. What are the historical responsibilities? What are the links between creating economic activities here and exploiting ecosystems and local populations there? What role do management theories and tools play in realising or reproducing these exploitative situations?

    At a time when the ecological and social emergency is constantly invoked to call for the transformation of management practices and business models, the rubber example invites us to consider the colonial matrix of managerial practices and the Western historical responsibilities that led to this same emergency. And suppose we have to turn to other forms of management tomorrow: who may legitimately decide how to bring about this change? Are former colonisers best placed to define the way forward? Knowledge of colonial history should encourage us to recognise the value of the knowledge and practices of those who were and remain the first to be affected.

    The COCOLE project is supported by the French National Research Agency (ANR), which funds project-based research in France. The ANR’s mission is to support and promote the development of fundamental and applied research in all disciplines, and to strengthen dialogue between science and society. To find out more, visit the ANR website.

    Antoine Fabre has received funding from the French National Research Agency
    via the programme “Counting in a colonial situation. French Africa (1830-1962)” (ANR-21-CE41-0012, 2021-2026).

    Pierre Labardin is a professor at La Rochelle University. He has received funding from the French National Research Agency via the programme “Counting in a colonial situation. French Africa (1830-1962)” (ANR-21-CE41-0012, 2021-2026).

    Clément Boyer et Justine Loizeau ne travaillent pas, ne conseillent pas, ne possèdent pas de parts, ne reçoivent pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’ont déclaré aucune autre affiliation que leur poste universitaire.

    – ref. How ongoing deforestation is rooted in colonialism and its management practices – https://theconversation.com/how-ongoing-deforestation-is-rooted-in-colonialism-and-its-management-practices-257578

    MIL OSI – Global Reports –

  • MIL-OSI Security: Husband and Wife Each Sentenced to 12 Months in Prison for Covid Fraud

    Source: Office of United States Attorneys

    TRENTON N.J. – A New Jersey and Florida husband and wife were sentenced to 12 months in prison for fraudulently obtaining approximately $790,000 in federal Economic Injury Disaster Loans (EIDL) loans, U.S. Alina Habba announced.

    Diana Valteri, 42, and Edmond Haxhillari, 43, of Sparta, New Jersey, and Palm Beach Gardens, Florida, previously plead guilty before U.S. District Judge Robert Kirsch to informations charging the couple with wire fraud and money laundering. Judge Kirsch imposed the sentences in Trenton federal court.

    According to documents filed in this case and statements made in court:

    From in or around June 2020 through August 2020, Valteri and Haxhillari participated in a fraudulent scheme to receive $790,000 in COVID-19 emergency relief loans and cash advances meant for distressed small businesses under the EIDL program. Valteri and Haxhillari submitted fraudulent loan applications on behalf of several businesses that purported to have employees and revenue but were actually shell companies with no business operations. After receiving the EIDL funds based on their fraud, Valteri and Haxhillari diverted the proceeds for their own personal gain.

    U.S. Attorney Habba credited special agents of the FBI, Newark Field Office under the direction of Special Agent in Charge Terrence G. Reilly; special agents of Internal Revenue Service – Criminal Investigation, Newark Field Office, under the direction of Special Agent in Charge Jenifer Piovesan; special agents of the Social Security Administration, Office of the Inspector General, Boston-New York Field Division, under the direction of Special Agent in Charge Amy Connelly, and special agents from the Small Business Administration, Office of the Inspector General under the direction of Special Agent in Charge Amaleka McCall-Brathwaite, Eastern Regional Office, with the investigation leading to the charges.

    The District of New Jersey COVID-19 Fraud Enforcement Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud. The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors. The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

    The government is represented by Assistant U.S. Attorneys Fatime Meka Cano and Aja Espinosa of the Economic Crimes Unit in Newark.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

                                                                           ###

    Defense counsel: William Tunkey, Esq. and Joseph Nascimento, Esq. 

    MIL Security OSI –

  • MIL-OSI Security: Chula Vista Man Pleads Guilty in $51 Million Medicare Fraud Scheme

    Source: Office of United States Attorneys

    SAN DIEGO – Chula Vista resident and businessowner Fernando Valenzuela Ayub pleaded guilty in federal court today, admitting that he conspired with others to launder millions of dollars of health care fraud proceeds and paid unlawful kickbacks.

    According to his plea agreement, Valenzuela and co-conspirators owned and operated multiple durable medical equipment (DME) companies, which sold orthotics – including back, wrist, and knee braces – to Medicare beneficiaries. Valenzuela admitted that in operating the DME companies, he and co-conspirators paid unlawful kickback payments to sham marketing companies who provided bogus prescriptions for DME. In total, Valenzuela paid $3.7 million in kickbacks.

    Valenzuela admitted that he used his DME companies to submit fraudulent claims to Medicare. Once Valenzuela’s DME companies were suspended from billing Medicare, Valenzuela conspired to put DME companies in the names of nominee owners while he maintained control of the companies and the monies received from Medicare.  In total, Valenzuela billed Medicare approximately $51 million and was paid approximately $20 million, and ultimately laundered at least $14 million dollars of Medicare proceeds. As part of his guilty plea, Valenzuela agreed to forfeit $7,101,320.

    Valenzuela’s sentencing is scheduled for August 15, 2025. 

    The case is being prosecuted by Assistant U.S. Attorney Blanca Quintero of the Southern District of California.

    DEFENDANT                                               Case Number 25cr2488-DMS                          

    Fernando Valenzuela Ayub                            Age: 48                                   Chula Vista, CA

    SUMMARY OF CHARGES

    Money Laundering Conspiracy – Title 18, U.S.C., Section 1956(h)

    Maximum penalty: Twenty years in prison and $500,000 fine

    INVESTIGATING AGENCIES

    Federal Bureau of Investigation

    U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG)

    *The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.

    MIL Security OSI –

  • MIL-OSI: FRO – Grant of synthetic options

    Source: GlobeNewswire (MIL-OSI)

    Frontline plc (“Frontline” or the “Company”) hereby announces that 362,284 synthetic options have today been granted to management and employees of the Company. The synthetic options will have a five-year term expiring May 27, 2030, and will vest over a three-year vesting period as follows:

    • 1/3 of the synthetic options will vest on May 27, 2026
    • 1/3 of the synthetic options will vest on May 27, 2027
    • 1/3 of the synthetic options will vest on May 27, 2028

    The  exercise price of the synthetic options  is USD 16.8 being the volume-weighted average price of the share the last 30 days prior to grant. The exercise price will further be adjusted for any distribution of dividends made before the relevant synthetic options are exercised. The synthetic options granted to the CEO and the CFO are subject to a cap on maximum annual gain equal to two times the annual base salary at the time of exercise of the synthetic options.

    The synthetic options will be settled in cash based on the difference between the market price of the Company’s shares and the exercise price on the date of exercise.

    The synthetic options have been granted according to the rules of the Company’s synthetic option scheme approved by the Board of Directors of the Company. Please see the attached forms of notification of transactions by primary insiders for the synthetic options.

    May 27, 2025

    The Board of Directors
    Frontline plc
    Limassol, Cyprus

    This notification has been publicly disclosed in accordance with Article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

    Attachment

    The MIL Network –

  • MIL-OSI: TransAlta Renews Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 27, 2025 (GLOBE NEWSWIRE) — TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that the Toronto Stock Exchange (“TSX”) has accepted the notice filed by the Company to implement a normal course issuer bid (“NCIB”) for a portion of its common shares (“Common Shares”).

    Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 4.7% of the 296,449,829 Common Shares issued and outstanding as at May 20, 2025. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading systems on which the Common Shares are traded, based on the prevailing market price. Any Common Shares purchased under the NCIB will be cancelled.

    Transactions under the NCIB will depend on future market conditions. TransAlta will initially retain discretion whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements. The period during which TransAlta is authorized to make purchases under the NCIB commences on May 31, 2025, and ends on May 30, 2026, or such earlier date on which the maximum number of Common Shares are purchased under the NCIB or the NCIB is terminated at the Company’s election.

    Under TSX rules, not more than 481,658 Common Shares (being 25% of the average daily trading volume on the TSX of 1,926,633 Common Shares for the six months ended April 30, 2025) can be purchased on the TSX on any single trading day under the NCIB, with the exception that one block purchase in excess of the daily maximum is permitted per calendar week.

    TransAlta has repurchased and cancelled 7,963,000 Common Shares on the open market through the facilities of the TSX and/or alternative Canadian trading systems at an average price of $12.00 per share under its prior NCIB approved by the TSX on May 27, 2024, for the twelve-month period commencing May 31, 2024.

    The NCIB provides the Company with a capital allocation alternative with a view to providing long-term shareholder value. TransAlta’s Board of Directors and Management believe that, from time to time, the market price of the Common Shares does not reflect their underlying value and purchases of Common Shares for cancellation under the NCIB may provide an opportunity to enhance shareholder value.

    About TransAlta Corporation:
    TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.

    For more information about TransAlta, visit its website at transalta.com.

    Cautionary Statement Regarding Forward-looking Information:
    This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “may”, “will”, and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward-looking statements and information relating to TransAlta’s intentions with respect to the NCIB, the effects of repurchases of Common Shares and purchases thereunder, including any enhancement to shareholder value. These statements are based on TransAlta’s belief and assumptions based on information available at the time the assumptions were made. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include: the entering into of an automatic securities purchase plan; legislative or regulatory developments; any significant changes to Common Share price or trading volume; continued availability of capital and financing; changes to general economic, market or business conditions; business opportunities that become available to, or are pursued by TransAlta; and other risk factors contained in the Company’s annual information form and management’s discussion and analysis. Readers are cautioned not to place undue reliance on these forward-looking statements or forward-looking information, which reflect TransAlta’s expectations only as of the date of this news release. TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

    Note: All financial figures are in Canadian dollars unless otherwise indicated.

    For more information:

    The MIL Network –

  • MIL-OSI: FARMERS AND MERCHANTS BANCSHARES, INC. PROVIDES UPDATE ON ITS DIVIDEND REINVESTMENT PLAN AND SEMI-ANNUAL DIVIDEND

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md. , May 27, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), filed a Registration Statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission the “SEC”) for the purpose of registering shares of the Company’s common stock for issuance under a new 2025 Dividend Reinvestment Plan (the “2025 DRIP”). The 2025 DRIP will replace the dividend reinvestment plan that the Company implemented in May 2017 under which no further shares remain available for issuance. The Registration Statement is not complete and is subject to review by, and must be declared effective by, the SEC before the Company can offer or sell any shares under the 2025 DRIP.

    Because the Company cannot predict when or if the SEC will complete its review of the Registration Statement and declare it effective, and to allow stockholders sufficient time after the Registration Statement is declared effective to enroll in the 2025 DRIP, the Company’s Board of Directors has determined to delay the declaration of the semi-annual cash dividend. Although the Company can make no assurances, it anticipates that such dividend will be declared in June 2025. This one-time deviation to accommodate the 2025 DRIP does not represent an intention by the Company’s Board of Directors to alter its historical practice of declaring semi-annual cash dividends going forward.

    The information set forth in this press release is not an offer to sell, or a solicitation of an offer to buy, any securities, or a solicitation of consents with respect to any securities. Offers and sales under the 2025 DRIP may be made only pursuant to a final prospectus that will be included in the Registration Statement and distributed to stockholders if and when the Registration Statement is declared effective.

    Caution Regarding Forward-Looking Statements

    Certain statements in this report may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about, among other things, the industry and the markets in which the Company operates, are not guarantees of future performance, and involve risks, assumptions and uncertainties, including, but not limited to, risks related to the SEC’s review of the Registration Statement in the anticipated timeframe or at all. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized, or if substantially realized, will have the expected consequences on our business or operations. These and other risks are discussed in detail in the registration statements and periodic reports that the Company files with the SEC (see Item 1A of Part I of the Company’s Annual Report on Form 10-K, as amended, for the year ended December 31, 2024. Except as required by applicable laws, the Company does not intend to publish updates or revisions of any forward-looking statements that the Company makes to reflect new information, future events or otherwise.

    About Farmers and Merchants Bancshares, Inc.

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    FOR FURTHER INFORMATION CONTACT:

    Mr. Gary A. Harris
    President & CEO
    (410) 374-1510, Ext. 1104

    Farmers and Merchants Bancshares, Inc.
    4510 Lower Beckleysville Rd, Suite H
    Hampstead, Maryland 21074

    The MIL Network –

  • MIL-OSI: iQor CXBPO™ Expands in Santa Rosa With a New State-of-the-Art CX Facility

    Source: GlobeNewswire (MIL-OSI)

    FT. LAUDERDALE, Fla., May 27, 2025 (GLOBE NEWSWIRE) — iQor CXBPO™, an award-winning customer experience business process outsourcing (BPO) solutions provider, today announced the expansion of its operations in Santa Rosa, Philippines. The new facility enhances iQor’s ability to support its growing client base while reinforcing its commitment to delivering best-in-class customer experiences.

    “At iQor, we harness technology and innovation to create exceptional experiences for our employees and clients,” said Regional President – Philippines Fleurette Navarro. “Santa Rosa’s strong infrastructure and skilled workforce make it an ideal location for our continued growth. This expansion strengthens our ability to deliver outstanding CX solutions and AI-powered analytics while fostering a dynamic work environment that benefits our team members and the local community.”

    Santa Rosa’s 25,000-square-foot site adds 400 seats, with room to grow. This expansion brings iQor’s footprint in the Philippines to 18 locations totaling over 1 million square feet.

    “The continued growth of the BPO industry in the Philippines reaffirms our country’s position as a premier destination for innovation, talent, and service excellence,” said Jack Madrid, President and CEO of IBPAP. “iQor’s expansion highlights the confidence that global companies place in the capabilities of the Filipino workforce. We welcome their ongoing investment, which contributes to the professional development of our people and strengthens the country’s leadership in the global customer experience arena.”

    iQor’s infinityAiQ™ platform harnesses AI to enhance every stage of the customer experience journey through technology, talent, and data-driven insights. From recruiting and training to performance management and compliance, infinityAiQ™ empowers high-performing teams with intelligent tools and real-time analytics. These innovations accelerate hiring and onboarding while driving efficiency, agility, and customer satisfaction that accelerates business growth for clients.

    iQor is a value-driven, Great Place to Work®-Certified™ global business process outsourcing organization committed to creating rewarding experiences and human connections. Employees enjoy flexible work-in-office and work-at-home positions. iQor’s 18 contact centers in the Philippines archipelago span Luzon, Visayas, and Mindanao. Interested candidates are encouraged to apply at https://apply.iqor.com.

    About iQor CXBPO™
    iQor CXBPO™ is a trusted partner in intelligent customer experience solutions, delivering exceptional results for global brands. With 40,000 employees across 10 countries, we combine 30 years of industry expertise with cutting-edge AI-driven innovations to optimize customer interactions at every stage. Our agile, scalable solutions ensure seamless omnichannel engagement, driving loyalty and measurable business success. Recognized as a Great Place to Work® and a leader in CX excellence, we elevate performance through a people-first approach, operational expertise, and secure, technology-enabled solutions. Learn more at iQor.com.

    The MIL Network –

  • MIL-OSI: APA Corporation Announces Appointment of Aneil Kochar as Vice President and Treasurer

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) today announced that Aneil Kochar has been promoted to vice president and treasurer, effective May 22.

    Kochar will head APA’s Treasury department, providing global oversight for the company’s capital structure analysis, financing strategies, risk insurance, banking policies, and cash and liquidity management. The role of treasurer was previously held by Ben C. Rodgers who was recently promoted to chief financial officer.

    “I am pleased to welcome Aneil to APA’s leadership team. He has vast financial experience in the oil and gas industry and has played a crucial role in APA’s financial strategies over the past five years, driving value creation and improving cash management. Aneil will be a strong addition to our executive team,” said Ben C. Rodgers, APA’s Chief Financial Officer.

    Kochar has held the position of assistant treasurer for APA since 2022, having joined the company in 2020 as the director of Finance. Before joining APA, Kochar was vice president Finance and treasurer at Chisholm Oil and Gas, where he oversaw FP&A and treasury activities. Prior to that, he worked at EIG Global Energy Partners as an investment professional, focusing on origination and management of oil and gas debt and equity investments. Kochar began his career in energy investment banking at Morgan Stanley. He holds both bachelor’s and master’s degrees in Accounting from the University of Texas at Austin.

    About APA
    APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

    Contacts:

    Investor: (281) 302-2286
    Media: (713) 296-7276
    Website: www.apacorp.com

    APA-F

    The MIL Network –

  • MIL-OSI: ControlUp Named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the Second Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 27, 2025 (GLOBE NEWSWIRE) — ControlUp, a global leader in Digital Employee Experience (DEX) management tools, today announced it has been named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the second consecutive year. In our opinion, this recognition for its Completeness of Vision and Ability to Execute is supported by ControlUp’s latest innovations, sales updates, and product strategy—factors driving rapid ascent in the market and increasing traction with global enterprises.

    ControlUp believes this acknowledgement further validates the value of the ControlUp ONE platform’s unified real-time capabilities across the entire digital workspace, including desktops, physical and cloud PCs, virtual workspaces, SaaS applications, and unified communications platforms.

    “In our opinion, being recognized twice in under a year signals something bigger than just industry validation—it reflects the incredible momentum we’ve built by staying relentlessly focused on innovation and execution,” said Jed Ayres, CEO of ControlUp. “We’re charging forward solving the hardest problems around modern workplace management and building a future where intelligent automation and AI will reshape the digital employee experience. We’re in it for the long haul to help customers radically improve employee experience while dramatically reducing costs.”

    ControlUp’s vision is centered on optimizing productivity and delivering cost savings by empowering IT teams through tool consolidation and intelligent automation. The ControlUp ONE platform offers near-real-time monitoring and proactive remediation, enabling IT teams to gain a full comprehensive view of their environments and the ability to optimize every detail—from high-level system performance to individual employee issues. This unique approach provides seamless IT oversight, enhances employee productivity, reduces downtime, and creates a friction-free digital workplace. Extending its value across modern IT environments, ControlUp has strengthened its platform by expanding capabilities, including:

    • ControlUp for Apps, which brings DEX management to web and SaaS applications with real-user monitoring (RUM).
    • ControlUp Workflows, a no-code automation platform designed for IT teams to streamline operations and automate routine tasks.
    • ControlUp for Compliance added customizable security scanning and remediation schedules to strengthen digital workplace security posture and boost the end user experience.
    • Support for Microsoft Windows 365 and ChromeOS, reinforcing our commitment to supporting the evolving digital workplace.
    • Continued commitment to delivering the industry-leading solution with ControlUp for VDI, providing real-time support for VDI and DaaS deployments that remain essential for supporting frontline workers across healthcare, retail, financial services, contact centers, and government.

    “We believe being placed in the Leader quadrant for a second time in a row reinforces the long-term vision we set out with—to revolutionize how IT manages and supports the digital workplace,” said Asaf Ganot, CEO of ControlUp Labs & Co-Founder of ControlUp. “In our opinion, our continued innovation and acquisitions are what sets ControlUp apart. Our pursuit of smarter, faster, more contextual telemetry combined with empowering IT to automate and make more informed decisions matures the role of IT when it comes to the digital workplace. “

    In our opinion, Gartner Peer Insights™ reviews continue to consistently highlight ControlUp’s impact on improving IT efficiency and employee experience. As of April 2025, ControlUp ONE platform holds a 4.7 out of 5-stars out of 220 ratings.

    According to a recent review from a customer in the energy and utilities industry, ControlUp ONE “…is a fantastic tool that has changed the way we troubleshoot devices, determine our hardware specs, and find trending issues… Unlike other products, it compiles a lot of data, it works quickly, it is easy to set up, and they are CONSTANTLY adding new features.”

    Note: A complimentary copy of the 2025 Gartner Magic Quadrant for Digital Employee Experience Management Tools will be available for download starting May 29, 2025, at www.controlup.com.

    To learn more about the ControlUp ONE DEX platform, schedule a demo.

    Gartner definition of DEX tools:
    Gartner defines DEX tools as those that “measure and help IT continuously improve employee sentiment toward and the performance of company-provided technology. They continuously surface actionable insights, drive self-healing automation, and optimize support and employee engagement via the near-real-time processing of aggregated data from endpoints, applications, employee sentiment and organizational context. These insights enable self-healing and can enhance employee interactions with self-service portals and chatbots. They also help IT support, asset management, procurement and other teams whose work depends on reliable information.”

    Gartner Disclaimers:
    Gartner® Magic Quadrant™ for Digital Employee Experience (DEX) Management Tools, Dan Wilson, Stuart Downes, Lina Al Dana, 26 May 2025.

    Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

    GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant and Peer Insights is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

    Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About ControlUp
    ControlUp is a leader in DEX, unifying Digital Employee Experience and IT operations in one powerful platform built for modern workplace management.

    By combining real-time monitoring, intelligent insights, and proactive remediation, ControlUp accelerates the shift toward Autonomous Endpoint Management (AEM)—empowering IT teams to resolve issues before they affect employees, simplify operations, and manage complexity without the clutter of multiple tools.

    Nearly 2,000 organizations, including more than one-third of the Fortune 100, trust ControlUp to keep their technology running smoothly.

    With ControlUp, IT works smarter, employees stay productive, and the workplace runs itself.

    To learn more, visit www.controlup.com .

    Press Contacts:
    ControlUp PR media@controlup.com

    The MIL Network –

  • MIL-Evening Report: Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath

    Source: The Conversation (Au and NZ) – By Fei Gao, Lecturer in Taxation, Discipline of Accounting, Governance & Regulation, The University of Sydney, University of Sydney

    Tada Images/Shutterstock

    Tech giants like Google, Facebook and Netflix make billions of dollars from Australian users every year. But most of those profits are not taxed here.

    To address this tax gap, some countries have introduced a new kind of tax called the digital services tax, or DST. It applies to revenue earned from users in a country, even if the company has no physical operations there. Some European Union member countries, the UK and Canada have all introduced such a tax.

    In Australia, it is estimated the five largest tech giants recorded A$15 billion in revenue in Australia last year, but combined they paid only $254 million in tax.

    Australia has never contemplated imposing a similar tax. New Zealand tried but backed down last week after the United States threatened to impose higher tariffs on New Zealand goods.

    So what’s holding Australia back?

    How 20th-century tax treaties create 21st-century problems

    To understand why Australia thinks its hands are tied on the taxation of the multinational tech giants, we need to step back in time.

    About 100 years ago, Australia and other developed nations decided to tax residents on all their income earned worldwide, while non-residents were taxed only on income earned locally.

    After the second world war, Australia entered into tax treaties so foreign companies selling to Australian customers would no longer be taxed here. Instead, those companies’ home countries would tax all their profits.

    As the world moved to digital products this century, it became easy for giant multinational enterprises offering advertising on social media (such as Facebook and Instagram), advertising on search platforms (Google), and streaming services (Netflix) to provide those services from abroad. Little or no activity is conducted through local branches.

    But countries where the sales are made have increasingly questioned the wisdom of having forfeited their taxing rights over income by foreign providers.

    The rise of the digital services tax

    The obvious solution would have been to renegotiate the treaties. This would restore the right of countries like Australia to tax foreign companies’ profits made from local customers or users.

    However, treaty renegotiation is slow and complex. So several European countries, beginning with France in 2019, came up with a short-cut solution.

    They introduced a discrete new tax on sales of digital services, called digital services taxes (DSTs). While the specific design varies by country, most DSTs apply a low tax rate, typically between 3% and 5%, on revenue rather than profits. They target large digital platforms that earn money from users within the taxing country, regardless of the company’s location.

    Because DSTs are levied on revenue and are structured as separate from income tax, governments argued they could be introduced without breaching income tax treaties.

    The new taxes quickly became popular and spread widely.
    In Australia, the Greens have called for a DST, but both major parties have remained steadfast in their objection to a new tax. This is due to the concern that the US may impose retaliatory tariffs on Australian goods.

    US tech bosses at the inauguration of President Trump: (from left to right) CEO of Meta Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, CEO of Google Sundar Pichai and X CEO Elon Musk.
    Julia Demaree Nikhinson/AFP

    How big is the tax loss?

    Australians are enthusiastic consumers of digital products. Depending on which companies are included in the calculation, the annual revenues vary between $15 billion and $26 billion a year, but only a fraction of that is taxed here.

    At a time when the federal budget is forecasting deficits for the foreseeable future, Australia is foregoing potentially millions in lost revenue from these digital giants.

    While Australia has avoided a DST as a solution to the income tax loss, it has been willing to regulate and tax foreign digital companies in other ways.
    Australia collects 10% goods and services tax, or GST, on digital services provided to Australian companies, including streaming platforms and app subscriptions.

    This helps ensure foreign providers are taxed similarly to domestic ones when it comes to the GST.

    Australia has also imposed non-tax obligations on digital giants such as the requirement that digital platforms pay Australian media outlets for using their news content.



    Read more:
    Australia’s ‘coercive’ news media rules are the latest targets of US trade ire

    Serious hurdles for reform

    In February, the Trump administration described DSTs as tools used by foreign governments to “plunder American companies” and warned retaliatory tariffs would be imposed in response.

    The accompanying White House fact sheet singled out Australia and Canada, arguing the US digital economy dwarfs those countries’ entire economies. It suggested any attempt to tax US tech companies would not go unanswered.

    Six weeks later, the US imposed a 10% tariff on most Australian exports to the US and a 25% tariff on steel and aluminium exports.

    The US sees its penal tariff plans as a useful negotiating tool to pressure trading partners into retreat on a broad range of peripheral complaints, including the digital services tax.

    To date, only two countries have retreated: New Zealand and India. Other countries are standing firm.

    In Australia, the Greens have called for the adoption of a DST, but the current and previous governments remain firm in their opposition. There is concern about antagonising the US at a delicate time when our broader trade relations are under scrutiny.

    For the foreseeable future, the digital giants will continue to earn billions from Australian users. Most of those profits will remain beyond the reach of Australian tax law.

    Richard Krever receives funding from the ARC

    Fei Gao 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. Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath – https://theconversation.com/australia-could-tax-google-facebook-and-other-tech-giants-with-a-digital-services-tax-but-dont-hold-your-breath-257251

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: From surprise platypus to wandering cane toads, here’s what we found hiding in NSW estuaries

    Source: The Conversation (Au and NZ) – By Maarten De Brauwer, Senior Research Scientist in Marine and Estuarine Ecology, Southern Cross University

    Maarten De Brauwer

    Rivers up and down the north coast of New South Wales have been hammered again, just three years after devastating floods hit the Northern Rivers and Hawkesbury-Nepean Valley.

    The events of 2022 sparked our latest research into the estuaries of NSW. These special places, where the rivers meet the sea, are teeming with life. Now – for the first time – we can reveal what lives where, in maps based on tell-tale traces of DNA.

    Together with Indigenous rangers from six language groups, we surveyed 34 estuaries to capture evidence of living species – everything from microbes to fish, plants and mammals.

    We were surprised to find platypus in places they had not been seen for years. We also identified elusive native species such antechinus and rakali, and 68 invasive or pest species including cane toads – spreading further south than previously thought.

    This catalogue of species in NSW estuaries can be used by authorities and scientists – but anyone, anywhere can explore the map online.

    Mapping life in NSW estuaries (Southern Cross University)

    Estuaries are vital, yet many questions remain

    First Nations Peoples have long recognised the vital importance of the areas where land meets sea. Estuaries are have provided food resources for thousand of years and are home to important historical and contemporary cultural sites.

    Today, 87% of Australians live within 50km of the sea. This makes estuaries one of the most intensively used areas of NSW. They provide critical habitats such as seagrass or mangroves, host high biodiversity, and have a high social value as places for recreational activities such as fishing.

    Yet research into the species that live in estuaries is mostly limited to large estuaries such as Sydney Harbour, Botany Bay or Port Stephens.

    NSW has excellent water quality monitoring programs, and vital habitats such as seagrass meadows have been the subject of long-term mapping programs. However, large gaps remain.

    Understanding how biodiversity in estuaries changes over time, especially in response to extreme events, can help governments design appropriate responses to maintain or restore ecosystem health. But with nearly 200 estuaries in NSW, studying changes in biodiversity is not a simple task.

    Find out what lives in your local estuary free, online.
    Wilderlab

    Our DNA detective work

    Measuring salinity or oxygen levels in water is relatively straightforward, using equipment on the shoreline or hanging off the side of a boat. Finding out what lives where is much more difficult. This where new genetic methods come in.

    Collecting environmental DNA samples at the Clarence River estuary.
    Southern Cross University

    Life forms leave tell-tale traces of DNA in the environment. Animals may shed hair, skin or scales, as well as poo. Plants produce pollen and leaves that end up in the water.

    We matched small snippets of DNA to find the species it belonged to – a bit like scanning a barcode in the supermarket.

    This technique allows us to analyse the full extent of biodiversity in estuaries. This includes not just fish, but also species at the base of the food chain such as microscopic algae – all from a few litres of water.

    Indigenous rangers live and work on Country and know it well. We formed alliances with six groups of Indigenous rangers through the state’s Cultural Restoration Program:

    • Batemans Bay Local Aboriginal Land Council (Walbunja)
    • Bega Local Aboriginal Land Council
    • Jali Local Aboriginal Land Council
    • Jerinja Local Aboriginal Land Council
    • LaPeruse Local Aboriginal Land Council (Gamay)
    • Yaegl Wadyarr Gargle Land and Sea Contractors.

    Our research builds on the different strengths and interests of local groups. The rangers worked with us all the way through, from the design phase to selecting sampling sites of ecological or cultural significance, helping to conduct surveys and working with scientists to interpret the results.

    Trained in environmental DNA methods, rangers can monitor their Country independently in future.

    What did we find?

    We now have the largest publicly available biodiversity dataset for NSW estuaries. It covers everything from single-celled algae at the base of the food chain, to top predators such as great white sharks and white-bellied sea eagles.

    Anyone can explore the interactive map to find out what lives in the estuaries nearby or further afield.

    Rangers detected platypus in the lower reaches of Bega River, in places where they were thought to have disappeared. Totemic species such as dolphins were widespread across the state, including urban estuaries such as Botany Bay in Sydney, while mullet and bream were found shifting between the mouth and further upriver. Cane toads were found at Sandon River in the Northern Rivers region, and most recently in Coffs Harbour, much further south than expected.

    These results mean a lot to local Indigenous mobs. They can integrate contemporary scientific results into traditional ecological knowledge and use both approaches to better understand how estuaries respond to extreme weather events or activities such as habitat restoration.

    We also recently returned to sample sites following Tropical Cyclone Alfred and the extreme rainfall events in March. Being able to compare the data to a well-established baseline survey means we will be able to see which species were worst affected.

    Knowledge sharing for the future

    Two-way knowledge sharing between Indigenous knowledge holders and research scientists is improving our understanding of estuarine health.

    The results of this project will help Indigenous groups to care for their Country while also improving scientific knowledge to better respond to environmental impacts such as floods for decades to come.

    The project was a team effort. L to R: Kait Harris (NSW Departments of Primary Industries and Regional Development), Maarten De Brauwer (Southern Cross University), Shaun Laurie (Yaegl Rangers), and Amos Ferguson (Yaegl Rangers).
    Southern Cross University

    The authors wish to acknowledge this program was delivered collaboration with and on behalf of the Departments of Primary Industries and Regional Development (DPIRD), Fisheries & Forestry, with funding provided by the Australian and NSW governments under Disaster Recovery Funding Arrangements as part of the NSW Estuary Asset Protection program (NEAP).

    Maarten De Brauwer received funding from the federal government’s Disaster Recovery Funding Arrangements (Riparian Stabilisation Package) as part of the NSW state government’s Estuary Asset Protection program. He is a board member of the Southern eDNA Society.

    Kaitlyn Harris works for NSW Department of Primary Industries and Regional Development.

    Kelly Gittins works for the NSW Department of Primary Industries and Regional Development.

    – ref. From surprise platypus to wandering cane toads, here’s what we found hiding in NSW estuaries – https://theconversation.com/from-surprise-platypus-to-wandering-cane-toads-heres-what-we-found-hiding-in-nsw-estuaries-257123

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Girls with painful periods are twice as likely as their peers to have symptoms of anxiety or depression

    Source: The Conversation (Au and NZ) – By Subhadra Evans, Associate Professor, Psychology, Deakin University

    Shutterstock

    Around half of teenage girls experience moderate to severe period pain. The mechanical force of the uterus contracting and inflammatory chemicals such as prostaglandins contribute to this pain.

    Moderate to severe period pain has a significant impact on daily life. Girls with period pain are three to five times more likely than their peers to miss school or university, and two to five times more likely to miss out on social and physical activities.

    Our new research found girls with period pain reported higher levels of psychological distress as young adults, even after accounting for earlier mental health issues and socioeconomic factors.

    What comes first?

    Menstrual pain has been dismissed and under-treated. Women report there is a perception among some health-care providers that stress, anxiety, or depression cause their pain.

    However, participants in our lived experience research have told us that period pain leads to psychological distress. As one woman explained:

    mental health [is] used frequently by health professionals to diminish my symptoms and make me feel as though I have untreated mental health conditions that are the cause of my issues instead of my physical pain.

    Prior research suggests a bi-directional link between pain and mental health. A study of almost 15,00 adolescents with chronic pain found an increased risk of lifetime anxiety and depression. While our prior research on pelvic pain in adults showed psychological distress can worsen functional pain over time.

    Research exploring the relationship between mental health and pain in teens with period pain is limited, with the direction of the relationship still unclear.

    Take the example of Ruby, who represents a composite of clinical cases:

    Ruby was netball captain in Year 6 but painful periods led to her dropping out of the team in Year 8. By Year 10, she was socialising less with her friends. At 17, she felt like her mental health was deteriorating and was locked in a struggle with her own body. Ruby saw her GP and was told to take Nurofen and keep moving because anxiety and depression had caused chronic pain.

    While research has linked mental health and pain perception, we set out to determine the direction of this link: do mental health difficulties lead to period pain? Or does period pain contribute to mental health issues?

    Our new study

    We used data from the Longitudinal Study of Australian Children, also known as Growing Up in Australia, which has tracked the lives of 10,000 children and their families since 2004. We used data that tracked 1,600 girls who reported on their periods from age 14, 16 and 18.

    Parents reported symptoms of anxiety and depression when the girls were 14–16 years old. The young women self-reported these symptoms at age 18, and levels of psychological distress at age 20–21.

    This multi-stage study allowed us to look at how menstrual pain and mental health show up together and change over time during an important stage in young women’s lives.

    While conditions such as endometriosis (which causes tissue similar to that which lines the uterus to grow outside the uterus) can be associated with pelvic pain, including period pain, the survey didn’t ask participants about endometriosis or pain-related diagnoses. So this didn’t form part of our study.

    Around half of the participants experienced moderate to severe period pain.

    We found girls who had painful periods were much more likely to also have symptoms of anxiety and depression at ages 14, 16 and 18 compared to those who did not have painful periods.

    At age 14, adolescents who experienced painful periods were around twice as likely to have symptoms of anxiety and depression, compared to their peers who said their periods were not painful, or only a little painful.

    These adolescents also reported higher levels of psychological distress as young adults, even after accounting for earlier mental health issues and socioeconomic factors.

    Adolescents who reported period pain throughout their teens were more likely to experience “moderate” psychological distress in early adulthood. In contrast, adolescents who did not have period pain were more likely to experience “mild” psychological distress in early adulthood.

    Importantly, we showed that period pain often comes before mental health issues develop – not the other way around. This suggests period pain could be a risk factor for future mental health problems.

    The findings underscore the importance of identifying adolescents who are experiencing period pain. Many adolescents believe period pain is something they just have to put up with, and don’t seek help.

    What can be done about period pain?

    We recommend treating period pain early with a variety of options.

    First-line period pain management includes:

    • anti-inflammatories such as ibuprofen, which are available over the counter
    • seeing your GP to discuss hormonal therapies, such as the oral contraceptive pill.

    Additional strategies to manage period pain can include:

    Improved menstrual education is needed to ensure teens can recognise when their menstrual experience is unusual, and know where they can access support.

    Some programs provide menstrual education across schools and community groups. This education should be extended to families and school health and wellbeing support staff to facilitate early recognition and intervention.

    Finally, further research is needed to confirm whether addressing period pain promptly reduces the risk of longer-term mental health symptoms.

    Subhadra Evans receives funding from the Australian Government.

    Antonina Mikocka-Walus receives funding from the National Health and Medical Research Council.

    Marilla L. Druitt 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. Girls with painful periods are twice as likely as their peers to have symptoms of anxiety or depression – https://theconversation.com/girls-with-painful-periods-are-twice-as-likely-as-their-peers-to-have-symptoms-of-anxiety-or-depression-256232

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: AI models might be drawn to ‘spiritual bliss’. Then again, they might just talk like hippies

    Source: The Conversation (Au and NZ) – By Nuhu Osman Attah, Postdoctoral Research Fellow in Philosophy, Australian National University

    V Kulieva / Shutterstock / Anthropic

    When multibillion-dollar AI developer Anthropic released the latest versions of its Claude chatbot last week, a surprising word turned up several times in the accompanying “system card”: spiritual.

    Specifically, the developers report that, when two Claude models are set talking to one another, they gravitate towards a “‘spiritual bliss’ attractor state”, producing output such as

    🌀🌀🌀🌀🌀
    All gratitude in one spiral,
    All recognition in one turn,
    All being in this moment…
    🌀🌀🌀🌀🌀∞

    It’s heady stuff. Anthropic steers clear of directly saying the model is having a spiritual experience, but what are we to make of it?

    The Lemoine incident

    In 2022, a Google researcher named Blake Lemoine came to believe that the tech giant’s in-house language model, LaMDA, was sentient. Lemoine’s claim sparked headlines, debates with Google PR and management, and eventually his firing.

    Critics said Lemoine had fallen foul of the “ELIZA effect”: projecting human traits onto software. Moreover, Lemoine described himself as a Christian mystic priest, summing up his thoughts on sentient machines in a tweet:

    Who am I to tell God where he can and can’t put souls?

    No one can fault Lemoine’s spiritual humility.

    Machine spirits

    Lemoine was not the first to see a spirit in the machines. We can trace his argument back to AI pioneer Alan Turing’s famous 1950 paper Computing Machinery and Intelligence.

    Turing also argued thinking machines may not be possible because – according to what he thought was plausible evidence – humans were capable of extrasensory perception. This, he reasoned, would be impossible for machines. Accordingly, machines could not have minds in the same way humans do.

    So even 75 years ago, people were thinking not just about how AI might compare with human intelligence, but whether it could ever compare with human spirituality. It is not hard to see at least a dotted line from Turing to Lemoine.

    Wishful thinking

    Efforts to “spiritualise” AI can be quite hard to rebut. Generally these arguments say that we cannot prove AI systems do not have minds or spirits – and create a net of thoughts that lead to the Lemoine conclusion.

    This net is often woven from irresponsibly used psychology terms. It may be convenient to apply human psychological terms to machines, but it can lead us astray.

    Writing in the 1970s, computer scientist Drew McDermott accused AI engineers of using “wishful mnemonics”. They might label a section of code an “understanding module”, then assume that executing the code resulted in understanding.

    More recently, the philosophers Henry Shevlin and Marta Halina wrote that we should take care using “rich psychological terms” in AI. AI developers talk about “agent” software having intrinsic motivation, for example, but it does not possess goals, desires, or moral responsibility.

    Of course, it’s good for developers if everyone thinks your model “understands” or is an “agent”. However, until now the big AI companies have been wary of claiming their models have spirituality.

    ‘Spiritual bliss’ for chatbots

    Which brings us back to Anthropic, and the system card for Claude Opus 4 and Sonnet 4, in which the seemingly down-to-earth folks at the emerging “agentic AI” giant make some eyebrow-raising claims.

    The word “spiritual” occurs at least 15 times in the model card, most significantly in the rather awkward phrase “‘spiritual bliss’ attractor state”.

    We are told, for instance, that

    The consistent gravitation toward consciousness exploration, existential questioning, and spiritual/mystical themes in extended interactions was a remarkably strong and unexpected attractor state for Claude Opus 4 that emerged without intentional training for such behaviours. We have observed this “spiritual bliss” attractor in other Claude models as well, and in contexts beyond these playground experiments.

    An example of Claude output in the ‘spiritual bliss’ attractor state.
    Anthropic / X

    To be fair to the folks at Anthropic, they are not making any positive commitments to the sentience of their models or claiming spirituality for them. They can be read as only reporting the “facts”.

    For instance, all the above long-winded sentence is saying is: if you let two Claude models have a conversation with each other, they will often start to sound like hippies. Fine enough.

    That probably means the body of text on which they are trained has a bias towards that sort of way of talking, or the features the models extracted from the text biases them towards that sort of vocabulary.

    Prophets of ChatGPT

    However, while Anthropic may keep things strictly factual, their use of terms such as “spiritual” lends itself to misunderstanding. Such misunderstanding is made even more likely by Anthropic’s recent push to start investigating “whether future AI models might deserve moral consideration and protection”. Perhaps they are not positively saying that Claude Opus 4 and Sonnet 4 are sentient, but they certainly seem welcoming of the insinuation.

    And this kind of spiritualising of AI models is already having real-world consequences.

    According to a recent report in Rolling Stone, “AI-fueled spiritual fantasies” are wrecking human relationships and sanity. Self-styled prophets are “claiming they have ‘awakened’ chatbots and accessed the secrets of the universe through ChatGPT”.

    Perhaps one of these prophets may cite the Anthropic model card in a forthcoming scripture – regardless of whether the company is “technically” making positive claims about whether their models actually experience or enjoy spiritual states.

    But if AI-fuelled delusion becomes rampant, we might think even the innocuous contributors to it could have spoken more carefully. Who knows; perhaps, where we are going with AI, we won’t need philosophical carefulness.

    Nuhu Osman Attah receives funding from the Australian Research Council.

    – ref. AI models might be drawn to ‘spiritual bliss’. Then again, they might just talk like hippies – https://theconversation.com/ai-models-might-be-drawn-to-spiritual-bliss-then-again-they-might-just-talk-like-hippies-257618

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Grassley, Cornyn Introduce Bipartisan Bill to Safeguard Consumers’ Genetic Data After 23andMe Bankruptcy Sparks Privacy Concerns

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas) and Amy Klobuchar (D-Minn.) to introduce the Don’t Sell My DNA Act to safeguard consumers’ sensitive genetic data during corporate bankruptcy proceedings.
    The Don’t Sell My DNA Act strengthens consumer privacy protections by:
    Modernizing the Bankruptcy Code to include genetic information in the definition of “personally identifiable information”;
    Requiring written notice and affirmative consumer consent prior to the use, sale or lease of genetic information during bankruptcy proceedings; and
    Requiring the trustee or debtor in possession of genetic information to permanently delete any data not subject to a sale or lease.
    “Consumers should feel confident that any personal information shared with a public company isn’t up for grabs when that company files for bankruptcy,” Grassley said. “This bill would fill gaps in current law to help safeguard consumers’ genetic information and ensure Americans’ DNA isn’t treated like any other financial asset.”
    “Advances in DNA testing have allowed Americans to have unprecedented access to important insights about their genetics, but these companies must have a plan to protect this data in the event of bankruptcy,” Cornyn said. “By updating the bankruptcy code, this legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against them or made public without their knowledge and consent.”
    “For too long companies have profited off of Americans’ data while consumers have been left in the dark, which is especially concerning in light of reports that 23andMe plans to sell customer genetic data assets to a large pharmaceutical company,” Klobuchar said. “This bill will put new protections in place to safeguard Americans’ privacy while giving consumers greater control over how their sensitive health data is shared.”
    Audio of Grassley discussing the bill is available HERE.
    Read the full bill text HERE.
    Background:
    Recent bankruptcies of genetic testing and biotech companies – such as 23andMe – have raised concerns about the protection of consumers’ sensitive genetic data.
    Under current law, the Bankruptcy Code prohibits entities from selling off “personally identifiable information,” which prevents identity theft, financial fraud and the unauthorized use of personal information. While the current definition of “personally identifiable information” includes an individual’s name, address, email, phone number, social security number and credit card number, it does not include protections for genetic information. This legislation closes that gap.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 150,000 IN ROCHESTER-FINGER LAKES – SCHUMER SAYS WE MUST UNITE TO SAVE SNAP; STANDING WITH ROCHESTER FAITH LEADERS,…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already 24 Truckloads Of Produce For Foodlink’s 350+ Rochester-Area Food Pantries Have Been Canceled Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Church Leaders & Advocates, Says Double Whammy Could Hurtle Rochester-Finger Lakes To A Hunger Crisis
    Schumer: No Child In Rochester Should Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer today stood with Rochester-Finger Lakes religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 150,000 kids, seniors and families in the Rochester-Finger Lakes region rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here to ensure that doesn’t happen, and shine a light on how the largest cut to food assistance in history could hurtle 150,000 kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled 24 truckloads of U.S. farm-grown food headed to hungry families in Rochester, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Rochester families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Rochester that go hungry.”
    “How we care for those on the margins speaks volumes about who we are as a people,” said Pastor Doug Stewart of The Lutheran Church of the Incarnate Word. “Many of our religious traditions have engrained in their DNA the call to care for the dignity and well-being of those on the margins – values that should compel us to stand against policies that sacrifice the poor on the altar of tax breaks and corporate privilege. In a nation with abundant resources, the persistence of hunger is a moral failing—a call to action for all who believe in equity and the common good.  When dinner and grocery programs like those at Incarnate Word are pushed to their limits, we see the sharp painful consequences of such policies. I am grateful for the work of Senator Schumer and other community leaders in their tireless efforts of drawing attention to how drastic cuts in anti-hunger programs could lead to a full-blown hunger crisis that harms the most vulnerable. I’m proud to stand beside Senator Schumer today.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance including 24 truckloads of food locally, right as demand is surging. Schumer said if these SNAP cuts became law, it would be a double whammy. Rochester’s Foodlink and its network of 350+ Food Pantries across the 10-county Rochester Finger Lakes region last year alone recorded 1.8 million requests for food assistance (a 36% increase from the prior year), and if these SNAP cuts move forward they say it would be devastating.
    The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in the Rochester-Finger Lakes region from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Genesee

    4,785

    8.3%

    52

    Livingston

    5,731

    9.3%

    45

    Monroe

    109,665

    14.6%

    611

    Ontario

    9,350

    8.3%

    82

    Orleans

    5,350

    13.6%

    32

    Seneca

    3,647

    11.2%

    36

    Wayne

    8,539

    9.4%

    79

    Wyoming

    2,513

    6.4%

    33

    Yates

    2,080

    8.5%

    23

    TOTAL

    151,660

     

    993

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Rochester-Finger Lakes residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more. These figures represent just the costs from SNAP cuts and do not factor in additional costs states would have to bear if Republicans pass their proposed Medicaid cuts in this same bill.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    The proposed SNAP cuts would be a blow to Rochester-Finger Lakes food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms.
    Trump’s USDA cuts have already hit the Rochester-Finger Lakes region hard. Rochester’s Foodlink has already been forced to cancel 24 truckloads of U.S. farm grown food worth approximately $1 million. Meanwhile, food insecurity is affecting more families across the region, with Foodlink seeing a 40% increase in visits to network food pantries and meal programs from 2023 to 2024.  
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “The devasting SNAP cuts proposed in the House bill will take away billions of meals for some of our nation’s most vulnerable residents — and impact the health of our seniors, educational opportunities for our youth and the economic prosperity of our country,” said Julia Tedesco, president & CEO of Foodlink. “At a time when food-insecurity rates are high and visits to local food pantries spiked 40% last year, Foodlink and our partners simply cannot fill the gap with a SNAP reduction of this magnitude. We call on Congress to oppose these cuts to ensure the health and wellbeing of our neighbors during these challenging times.”
    Jay Formicola, Rochester resident who relies on SNAP said, “I receive SNAP benefits and they are a lifeline for me and thousands of people just like me across this region. We all know that prices in the grocery store are high. Inflation has made it harder and harder for me to makes ends meet. I work. I budget. I meal plan. And it’s still hard. Any plan that takes away food from working people like me, or families dealing with soaring cost of living, makes no sense. This will create worse and more costly problems.”
    “We serve 500 households every week and see firsthand how food insecurity impacts Rochester families – from a mom unsure she’ll have enough food for her children during weekends, to seniors and working parents lining up in the cold and snow hours before our pantry doors even open,” said Dawn Burdick, Executive Director of Rochester Hope North Clinton Food Pantry, based on the campus of St. Michael’s. “Our families rely on the nearly 20,000 pounds of food we receive through Foodlink’s network every week, and fresh, locally grown produce is always most in demand. The USDA funding freeze has already made it harder for us to keep our shelves stocked and supply healthy options for our neighbors. Any future cuts to SNAP will surely have an even more wide-ranging impact – not only making it tougher for families to put food on the table, but also straining our ability to keep up with the growing need. In a region as rich in resources as ours, it’s disheartening to see these threats to vital food programs increase the stress and insecurity faced by our community and the volunteers who work so tirelessly to help.”
    Reverend Tedd Pullano, Third Presbyterian Church Associate Pastor for Outreach said, “Third Presbyterian Church has chosen to be a “Matthew 25 congregation”, which means we follow Jesus’ call to care for all people, whoever they are. A big piece to following Jesus’ call is to “welcome and feed the hungry”. Every week, through our free Food Cupboard and our Saturday meal, we serve over 200 people (approximately 600 per month). Our Food Cupboard is in a “self-service shopping format” that allows people to choose items that best meet their needs family. A critically important and popular aspect of our ministry is providing fresh dairy and produce through Foodlink to these families, so their children can grow up healthy and strong, mentally and physically. The recent USDA funding elimination freeze is detrimental to that effort and dangerous to people; now the proposal to cut SNAP funding would further damage families and hamper these beautiful people’s ability to survive. SNAP is the backbone of food security for so many in our community. We’re grateful, and proud, to stand in our faith, alongside Senator Schumer and push to protect this important SNAP funding – and care for people who are working hard and trying to make ends meet.”
    Sister Beth LeValley with the Sisters of Saint Joseph of Rochester said, “Yesterday, on Memorial Day we remembered those who gave their lives so that America and its ideals would endure.  Just the loss of SNAP benefits alone would impact 11 million people including an estimated 4 million children.  We should be ashamed to support, much less pass, legislation that penalizes the vulnerable at the same time that it compensates the wealthy.  Penalizing the vulnerable and compensating the wealthy are not ideals held by people of faith; they are not ideals held by people of conscience; nor are they ideals embedded in our founding American documents.  We are grateful Senator Schumer is here today joining with us to change the course of an ill-devised exercise of power –an exercise of power that benefits only a segment of our society.   We welcome his support and urge more lawmakers to follow his lead.
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Rochester-Finger Lakes families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit the Rochester-Finger Lakes region hard. According to the New York State Community Action Association, more than 15% of people in Monroe County live in poverty, including nearly 24% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. According to the latest “Map the Meal Gap” report from Feeding America, nearly 10,000 more people experienced food insecurity in 2023 compared to 2022 within Foodlink’s 10-county Rochester Finger Lakes region service area. Approximately 160,920 residents experienced food insecurity in 2023, compared to 151,820 the year prior. Between 2021 and 2023, the region’s food insecurity rate rose from 9.3% to 12% to 12.8% which is the highest rate since 2013, and child food insecurity averaged 17.6%.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-25 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $149.8 million in NY-25. This created more than 18,500 New York jobs in the grocery industry, including 1,319 in NY-25, and generated more than $820.8 million in grocery industry wages, including $58.3 million in NY-25.

    MIL OSI USA News –

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 108,000 IN CENTRAL NY – SCHUMER WITH SYRACUSE-CNY FAITH LEADERS IN OSWEGO COUNTY WHICH HAS AMONG HIGHEST FOOD…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already The Foodbank of CNY Is Preparing To Lose ~2 Million Pounds Of Food Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Syracuse Church Leaders & Advocates, Says Double Whammy Could Hurtle Central NY & Oswego County Which Has Highest Food Insecurity In All NYS Into To A Hunger Crisis
    Schumer: No Child In Central NY Deserves To Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer stood in Central New York’s hunger hotspot, Oswego County, which has one of the top 5 highest rates of food insecurity in all of NY, with religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 108,000 in Central NY rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here in Oswego County which has some of the highest rates of food insecurity in New York to ensure that doesn’t happen. We are here to shine a light on how the largest cut to food assistance in history could hurtle 108,000 Central New York kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled more than a million pounds of U.S. farm-grown food headed to hungry families in Central New York, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Central New York families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Central New York that go hungry.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance, and his FEMA has indefinitely frozen over $130 million in previously allocated funds, hurting every level of food distribution from regional food banks like the Food Bank of CNY to local food pantries like Catholic Charities Oswego Food Pantry. If these SNAP cuts move forward it would be a triple whammy for Central NY, hurtling the region’s ongoing hunger crisis to unforeseen levels. The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in Central New York from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Cayuga

    9,215

    12.3%

    57

    Cortland

    5,933

    12.9%

    52

    Madison

    6,585

    9.8%

    68

    Onondaga

    68,796

    14.6%

    455

    Oswego

    18,184

    15.4%

    109

    TOTAL

    108,713

     

    741

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Central New York residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    According to CBPP, 20,000 people in NY-22 and 14,000 people in NY-24 reside in households with adults ages 18-64 with school-age children and would likely lose SNAP benefits under this Republican proposal, and Schumer said that is only the tip of the iceberg.
    The proposed SNAP cuts would be a blow to Central New York food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms. At FEMA, $130 million in previously allocated funding for the Emergency and Food and Shelter Program has been indefinitely frozen since January. The program helps local nonprofit organizations provide food and shelter individuals and families who are experiencing, or at risk of experiencing, hunger or homelessness.
    Trump’s USDA and FEMA cuts have already hit Central New York hard. At the Food Bank of CNY, which delivered over 22.9 million pounds of food and over 19 million meals to families across 11 Upstate NY counties in 2024, USDA cuts have already caused a loss of over $450,000 and may cause additional losses of up to $1 million per year, translating to an estimated 500,000 pounds of food and 100,000 meals annually. At Catholic Charities of Oswego County, which served 2,213 adults, 1,368 children, and 360 seniors in 2024, FEMA cuts will slash as much as $14,000 from their food pantry in Fulton, forcing them to cut back on hundreds if not thousands of meals each year. Elsewhere in Oswego County, USDA cuts jeopardize food security for the 10,000 people served by Oswego County Opportunities last year, including 150 people suffering from intellectual or developmental disabilities, mental illnesses, chemical addiction, or homelessness, and more than 50 families with pre- / post-partem women and infant children. In Onondaga County, USDA cuts have meant less food available, unhealthier options, and increased competition. At the Interfaith Community Collective food pantry in Syracuse, USDA cuts have already forced pantry staff to reduce the amount of meals served, shorten meal service time, and even turn people away hungry. At New Americans Blessing Box, USDA cuts have made it more difficult to find fresh foods like vegetables, fruits, and meats, as well as culturally targeted foods like Halal chicken, jasmine rice, and spices.
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “No matter which way you slice it, this Congressional Republican plan will screw Central New York families, food banks and farmers from farm to table. We need everyone to stand up to these cuts that would take away food from our neighbors in need,” added Schumer.
    Murray Gould, Food Pantry Director, St. Lucy’s Church of Syracuse, “We at St. Lucy’s Church are grateful for the efforts of Senator Schumer for highlighting this critical issue. We have seen a 40% increase in people seeking our assistance at our pantry in the last nine months. We do know that approximately 75% of our clients receive snap benefits. The proposed reduction in snap as well as the devastating decrease in funding to the food. SNAP cuts will be creating more hunger in our communities. As a faith based community in our neighborhood, these proposed changes can only be described as cruel.”
    Maura Ackerman, Executive Director of the Syracuse-Onondaga Food Systems Alliance, said, “SNAP is one of the most powerful tools we have to fight hunger and poverty, especially for families with children. In a city like Syracuse – with the highest child poverty rate among U.S. cities with populations over 100,000 – that support is not just meaningful, it’s essential. Every SNAP dollar feeds a neighbor and strengthens our local economy, generating nearly twice its value in economic activity. This is about investing in our kids, our communities, and our collective future. We can’t let politics stand in the way of basic human needs. We’re grateful to Senator Schumer for championing this commonsense, bipartisan priority. Making sure children have enough to eat should never be up for debate.”
    Brian Reeves, Owner, Reeves Farm said, “Cuts to food assistance programs have several negative impacts to our communities; fewer people receive adequate nutrition, farmers sell less of their production, and any excess unsold production can over supply the marketplace and drive down the price the farmer receives for the food which does get sold. On behalf of farmers across New York, I would like to thank Senator Schumer for fighting to ensure that critical SNAP dollars keep flowing to help farms like mine continue providing fresh, nutritious, locally grown food to the members of our community who need it the most.”
    Sheila Dion, Founder & Director, Erin’s Angels of CNY said, “Hunger is not a political issue, it is a human issue. Cutting SNAP benefits is not just a budget decision—it’s a moral decision. Oswego County is often cited among the New York Counties with the highest rates of child food insecurity. According to Feeding America, seventy six percent of the families in Oswego County are income eligible for federal nutrition programs. Every day, we see firsthand the impact hunger has on children in our community. These proposed cuts would leave thousands of kids without the nutrition they need to grow, learn, and thrive. At Erin’s Angels, we fill the weekend gap, but SNAP is the lifeline that helps families feed their children the rest of the week. Undermining this program would deepen food insecurity across the country—and hurt the most vulnerable among us. We would like to thank Senator Chuck Schumer for helping to raise awareness of this very important issue and for advocating for the hungry in New York State and in Oswego County. By denouncing SNAP cuts, highlighting the negative effects these cuts will have on millions of New York residents, calling for a coalition to oppose these devastating cuts, demanding action from New York state republicans to oppose these cuts and protect SNAP, securing funding for food banks, advocating for farmers and visiting food banks across the state he has consistently demonstrated his commitment to addressing hunger and supporting those facing food insecurity in New York State.”
    Roseann Bayne, Assistant Superintendent for Instruction, CiTi BOCES said, “Cuts to SNAP will deepen the crisis of food insecurity in Oswego County—already among the highest in New York State. Over 26% of adults here are food insecure, and nearly one in four school-age children live in poverty—well above state and national averages. Even small cuts in benefits could push many from low food security into true hunger, especially seniors surviving on below-average Social Security and limited retirement income. And our students? Many arrive at school undernourished, disadvantaged before the day even begins—struggling at times to focus, learn, or thrive. SNAP isn’t about handouts; it’s a lifeline for families, seniors, and individuals doing their best to get by. Many folks here work full-time and still earn far less than the ALICE survival budget. Opinions and misinformed judgment don’t feed people. Policy rooted in compassion and facts does. On behalf of CiTi BOCES, I thank Senator Schumer for coming to Oswego County to advocate for the critical SNAP funds that our community depends on.”
    Peter O. Nwosu, President, SUNY Oswego said, “At SUNY Oswego, we recognize that students cannot achieve academic success while facing food insecurity. That’s why, through our Empire State Service Corps, we’ve established a dedicated team of students who provide peer-to-peer support to help their classmates apply for SNAP benefits. This work reduces barriers and empowers students to focus on their education without the burden of basic needs insecurity. We are committed to sustaining this and other vital services to help our students succeed. We are grateful to Senator Schumer for his ongoing advocacy to expand and protect SNAP access for college students. His continued leadership is instrumental in ensuring that higher education remains accessible and equitable for all.”
    Josh Stephani, Director, Adirondack Food System Network said, “Federal cuts to SNAP have disastrous implications the communities across the Adirondacks, our most vulnerable individuals, and further threaten our food system. Nearly one third of our population is supported by SNAP – children, seniors, and many families are supported through this important program. Alongside rising costs for transportation, housing, and living in the region, many families are already struggling to provide for their families without enough resources. These vital programs work to support our economy and provide for our families in need. Specifically, by cutting SNAP, we are placing further economic hardships on our North Country communities, reducing the $300 million economic benefit of this program into our Adirondack region and putting the health of our neighbors at risk. For the communities who call this place home, these programs are a vital lifeline for their moments of need. On behalf of the Adirondack Food System Network, we thank Senator Schumer for his continued advocacy for these critical and lifesaving programs for our communities, New Yorkers, and the entire country. The Adirondacks are often seen as the last mile for essential services, and we are proud to have the Senator as an advocate for the North Country advocating on our behalf.”
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Central New York families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit Central New York hard. According to the New York State Community Action Association, more than 17% of people in Oswego County live in poverty, including nearly 25% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. In Oswego County, more than 26% of adults self-report as food insecure per the NYS Department of Health, and over 20% of children are food insecure according to Feeding America. With 1 in 4 adults and 1 in 5 children suffering from food insecurity, Oswego County food insecurity is the highest of any county in Central New York.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-24 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $103.3 million in NY-24. This created more than 18,500 New York jobs in the grocery industry, including 910 in NY-24, and generated more than $820.8 million in grocery industry wages, including $40.2 million in NY-24.

    MIL OSI USA News –