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Category: Business

  • MIL-OSI New Zealand: Budget 2025 – Businesses Watching Closely as Budget 2025 Nears

    Source: Business Canterbury

    With Budget 2025 being released tomorrow, businesses across Canterbury will be watching closely to see what’s on the table. With clear signals from the Government that this year’s budget has been signalled as a tight one, the focus for business will be on how the initiatives, continued or added, can support economic growth and create the right conditions for them to invest and grow.

    Business Canterbury will be releasing a response to Budget 2025 by 3:00pm tomorrow, and Leeann Watson will be available for comment following.

    On pre-Budget expectations, Business Canterbury Chief Executive Leeann Watson says, “The key area businesses will be looking at is continued investment in infrastructure, careful spending to continue the downward trend in inflation and interest rates, and initiatives that enable and help boost investment in R&D and growth.

    “Two key areas are top of mind for our business community, and this starts with the Government having a long-term plan that focuses on infrastructure investment. New Zealand’s infrastructure deficit continues to grow, and here in the South Island, strong connections to ports, airports, and across the supply chain are essential for the connectivity of our exports, imports and people.

    “Investment in critical transport links, including the Interislander replacements and roading projects, needs to remain a priority, even in a fiscally constrained environment. When the economy turns a corner, we need the infrastructure in place to support it.

    “Our latest Quarterly Canterbury Business Survey results showed increasing confidence, but this optimism hasn’t yet translated into investment. The right policy settings could shift that.

    “Targeted business support that enables innovation and investment, especially among SMEs, will be hugely important as we look ahead at a better economy, but with intentions around investment and creating jobs remaining subdued. Practical and efficient support for research and development, such as accelerated depreciation for R&D activities, for example, would give businesses the confidence to invest now in future growth.

    About Business Canterbury

    Business Canterbury, formerly Canterbury Employers’ Chamber of Commerce, is the largest business support agency in the South Island and advocates on behalf of its members for an environment more favourable to innovation, productivity and sustainable growth.

    MIL OSI New Zealand News –

    May 21, 2025
  • MIL-OSI New Zealand: Surveys – Show me the money: half of all workers cannot resist the lure of a higher salary

    Source: Robert Half

    • 61% of New Zealand workers would be compelled to change jobs for a higher salary 
    • 20% is the most common pay rise that would compel workers to leave  
    • Only 40% of workers say their current salary is an accurate reflection of their expertise, experience and/or level of responsibility 
    • Only 16% of workers believe pay is more important than job security in the current labour market.
    Auckland, 21 May 2025 – Money talks for the majority of Kiwi employees with 61% of workers who say they would feel compelled to change jobs if they came across another position with a higher salary, new independent research by specialised recruiter Robert Half finds.

    Meanwhile, 39% of workers say they would not be lured away from their current position by another job with a higher salary: About a quarter (24%) of workers admit they would change jobs without an increase in salary if it was the right opportunity, and 15% are content in their current role and would not move regardless of the salary offered.

    How much more money do office workers want?

    When asked what percentage salary increase would compel them to change jobs right now, 20% was the most common pay rise cited by workers.

     

    The % increase that would compel workers to change jobs 

    % of workers who would be compelled at this increase 

    5% 

    2% 

    10% 

    9% 

    15% 

    9% 

    20% 

    13% 

    25% 

    9% 

    30% 

    8% 

    35% 

    5% 

    40% or above 

    7% 

    Independent survey commissioned by Robert Half among 500 full-time office workers in New Zealand.

    “Money continues to be a powerful influence,” says Ronil Singh, Director at Robert Half. “But even when pay is a primary concern, many employees are weighing financial desires against the need for job security, especially as organisations focus on efficiency and streamlining operations. The balancing act between meeting immediate financial needs and building a sustainable career can be challenging in an uncertain job market.”

    Workers don’t feel they are paid what they are worth

    When workers were asked if they felt their current salary reflected their expertise, experience and level of responsibility, less than half (40%) agreed that they were paid appropriately.

    The remaining 60% of workers state an increased salary would better reflect what they bring to their role and the work required of them. Most workers (30%) believe their salary needs to increase by 10%-20% to be an accurate reflection of their expertise, experience and/or level of responsibility.

     

    The % salary increase required to accurately reflect the worker’s ability and position 

    % of workers 

    5% 

    2% 

    10% 

    10% 

    15% 

    9% 

    20% 

    11% 

    25% 

    9% 

    30% or above 

    19% 

    Independent survey commissioned by Robert Half among 500 full-time office workers in New Zealand.

    “The research shows that many workers feel their pay doesn’t reflect their worth, revealing a disconnect between what employees expect and what they currently earn,” Singh says. “This sentiment can be due to stagnant wages despite increased responsibilities or a perception, whether accurate or not, that their compensation lags behind industry standards for similar roles.”

    “To counter these sentiments, employers must offer competitive salaries that reflect the value employees bring and transparently communicate the specifics of their compensation packages to each individual. Leveraging tools such as the Robert Half’s 2025 Salary Guide will ensure employees are paid at the prevailing market rate for their roles, which can mitigate dissatisfaction and resignations.”

    Job security is still important for workers

    When asked whether job security is more important than salary, less than one in five (16%) workers are prepared to prioritise money ahead of having a secure job. Most workers (47%) state that both are equally important, while a similar proportion (37%) prioritise job security over their salary.

    “While salary remains a key consideration, job security is also a number one priority for many workers, especially in the current economic climate. Companies that can offer both competitive compensation and a stable work environment will be best positioned to secure and retain their workforce,” concludes Singh.

    Notes

    About the research

    The study is developed by Robert Half and was conducted online in November 2024 by an independent research company among 500 full-time office workers in finance, accounting, and IT and technology. Respondents are drawn from a sample of SMEs as well as large private, publicly-listed and public sector organisations across New Zealand. This survey is part of the international workplace survey, a questionnaire about job trends, talent management, and trends in the workplace.

    About Robert Half

    Robert Half is the global, specialised talent solutions provider that helps employers find their next great hire and jobseekers uncover their next opportunity. Robert Half offers both contract and permanent placement services, and is the parent company of Protiviti, a global consulting firm.  Robert Half New Zealand has an office in Auckland. More information on roberthalf.com/nz.

    MIL OSI New Zealand News –

    May 21, 2025
  • MIL-OSI USA: Cortez Masto Grills Trump’s Nominee for IRS Commissioner about his Involvement in a Fraudulent Tax Scheme

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) grilled Billy Long, President Trump’s nominee to lead the Internal Revenue Service (IRS), about his involvement in a tax fraud scheme in which he encouraged people to claim a fake Tribal tax credit. Long repeatedly failed to provide her with clear answers.
    Long has close ties to Capital Edge and the White River Energy Corporation, which promoted Tribal tax credits that the IRS later confirmed do not exist. Long reported earning $65,000 for his work related to the scheme. Cortez Masto has repeatedly sounded the alarm about Long’s alleged participation in tax fraud. Last month, she called for a criminal investigation into this scheme, and last week, she demanded answers from the White River Energy Corporation. Long suddenly received thousands of dollars campaign donations from individuals employed by these companies shortly after he was nominated to serve as IRS Commissioner, which he used to pay off a personal loan to his campaign.
    Cortez Masto pressed Long on his admission that he was involved in the scam, saying “In response to the question ‘How many Tribal tax credit referrals did you work on for Capital Edge and White River?’ […] you responded, ‘Less than ten close friends and acquaintances to Capital Edge.’ So, you did refer Tribal tax credits to individuals, correct?”
    “I referred them to Capital Edge Strategies, yes,” Long replied.
    “Knowing that they are illegal, and the IRS has said they are illegal, how do you stand here before this committee and tell the Chairman just a few minutes ago that you have no conflict of interest?” Cortez Masto asked.
    Mr. Long did not provide a clear answer.
    “We have asked the IRS to investigate these Tribal tax credits and the scam, and the companies that were involved, and some of the companies allegedly that were involved were [White River Energy Corporation], a company that you received compensation from,” Cortez Masto said. “How can you sit here today and say there’s no conflict knowing now that there is an investigation underway with the IRS and we’re asking them to look at this scam and it may involve a company that you are affiliated with?”
    As the former top law enforcement official in Nevada, Senator Cortez Masto has been a leading voice fight fraud throughout her career. She sounded the alarm on increasing check fraud scams, which cost consumers millions of dollars each year. She introduced legislation to protect and support whistleblowers reporting wrongdoing to the Consumer Financial Protection Bureau, and her bipartisan legislation to deter disruptive and potentially harmful phone calls and texts was signed into law in 2020.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: House passes Kennedy resolution to undo cumbersome Biden-era bank merger rule

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – The U.S. House of Representatives today passed Sen. John Kennedy’s (R-La.) joint resolution of disapproval under Congressional Review Act (CRA) procedures to block an Office of Comptroller of the Currency (OCC) rule that delays the bank merger approval process by adding more red tape that could lead to consumer uncertainty. It now moves to the president’s desk for signing.
    “When the Biden administration decided to tinker with bank merger rules for no good reason, they threw a gut punch to small community banks just trying to offer their customers a good service. I’m grateful to the U.S. House of Representatives for doing the right thing, and I look forward to President Trump signing my resolution to undo this cumbersome regulation,” said Kennedy.
    Rep. Andy Barr (R-Ky.), chairman of the Financial Institutions Subcommittee on the House Financial Services Committee, introduced the companion resolution in the House of Representatives.
    “Bank mergers create competition and efficiency in the banking system. By eliminating this rule, we will remove unnecessary guardrails on the bank merger process that make smaller and medium-sized banks less competitive. This is another win for President Trump, who is making our economy stronger by cutting government red-tape and unleashing the free market,” said Barr.
    The Biden administration’s rule, which went into effect on Jan. 1, 2025, amended the Bank Merger Act of 1960 to make it harder for the OCC to approve healthy bank mergers quickly. Kennedy’s resolution would reverse the Biden administration’s misguided rule so that banks can stay in business and serve hardworking Americans.
    Background:
    Historically, the OCC assumed that a potential merger passed muster if the agency took no action on a merger application within 15 days. The burden of showing that a merger would harm business and consumers fell on the OCC and bank regulators.
    The Biden administration’s rule shifted the burden of proof to individual banks, making it harder for banks—particularly community banks—to fulfill their obligations by making smart, strategic mergers. 
    In Feb. 2025, Kennedy introduced his resolution to undo the Biden administration’s rule.
    On May 8, 2025, the Senate passed Kennedy’s resolution of disapproval. Sens. Bill Hagerty (R-Tenn.), Thom Tillis (R-N.C.), Tim Scott (R-S.C.), Steve Daines (R-Mont.) and Bernie Moreno (R-Ohio) were cosponsors.
    The American Bankers Association (ABA) supports Kennedy’s resolution.
    “We applaud today’s House passage of the Congressional Review Act resolution nullifying the OCC’s flawed bank merger rule, and we thank Rep. Andy Barr for leading this effort. This action, along with the companion resolution led by Sen. John Kennedy and passed by the Senate, will provide regulators with the opportunity to reenvision the framework governing bank mergers so that it more effectively promotes competition while allowing banks to better serve their customers. We look forward to President Trump signing this important resolution into law,” said Rob Nichols, President and CEO of the ABA.
    Text of the resolution is available here.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI Australia: New research warns AI alone won’t fix bias in workplace recruitment

    Source:

    21 May 2025

    Artificial intelligence (AI) is increasingly being used in human resources (HR) to streamline processes and enhance decision-making by helping employers efficiently sift through large volumes of job applications.

    However, relying on AI tools alone to screen candidates isn’t enough to improve diversity outcomes in workplaces, according to new research by the University of South Australia.

    Human resource management expert Associate Professor Connie Zheng, co-director of UniSA’s Centre for Workplace Excellence, has conducted research into how AI can affect hiring decisions when it comes to improving diversity and inclusion by reaching gender quotas, having racially diverse teams and recruiting LGBTIQA+ employees or people with disabilities.

    AI tools are being used by some HR professionals to assist in the recruitment process by screening job candidates, responding to applicant emails, or focusing on specialised tasks such as CV screening, job matching or voice and video analysis.

    Assoc Prof Zheng says two separate studies into the use of AI to enhance diversity and inclusion in hiring decisions looked beyond whether humans or AI make better choices.

    “We explored what conditions help AI tools to actually support more diverse hiring as we found that simply having a reliable AI tool isn’t enough to improve diversity in workplace recruitment,” she says.

    “Diversity only improves when the AI system can explain its decisions in terms of diversity, when hiring focuses on qualitative goals and not just numbers, and when an organisation has clear diversity guidelines.

    “These factors encourage HR professionals and decision-makers to reflect more carefully on their choices. In short, AI can help improve diversity in hiring, but only when used under the right conditions and organisational support for the application of new technology, as well as clear diversity, equity and inclusion guidelines.”

    Despite the growing popularity of AI in many fields including education, health care, manufacturing and finance, many HR professionals are hesitant to adopt the tools.

    Assoc Prof Zheng says some companies have several concerns and are reluctant to invest in AI for hiring decisions because they’re apprehensive about the limitations of the technology, particularly in terms of biased data.

    She says many also feel their existing HR teams are competent enough to manage recruitment without AI, despite these concerns shifting if HR departments face staffing reductions, increased workloads or heightened demands for efficiency.

    “Despite these reservations, many organisations view AI as a way to significantly save costs by streamlining manual processes. Some companies have the mindset that using AI in HR is efficiency driven – it will make them work faster. The main goal of using AI is to expedite the process, particularly when dealing with large volumes of job applications,” Assoc Prof Zheng says.

    “With AI, a hirer can use the technology to filter appropriate applicants rather than sifting through hundreds of CVs and job applications manually. The problem when the main goal is efficiency is that diversity issues often then take a backseat.”

    Whether the use of AI tools in recruiting helps reduce discrimination or instead intensifies the problem remains a subject of controversial debate. Assoc Prof Zheng’s ongoing collaborative research with HUMAINE – Human Centred AI Network led by Professor Uta Wilkens at Ruhr University Bochum, Germany – has revealed  that simply providing a reliable, AI support tool that is considerate of diversity needs doesn’t automatically lead to diversity enhancement.

    “Unless the organisation and its hirers are conscious about diversity and justice issues, using AI for talent acquisition isn’t going to lead to more diverse and inclusive outcomes,” Assoc Prof Zheng says.

    To access the research papers:

    • Wilkens, U., Lutzeyer, I., Zheng, C., Beser, A., & Prilla, M. (2025). Augmenting diversity in hiring decisions with artificial intelligence tools. The International Journal of Human Resource Management, 1–38. https://doi.org/10.1080/09585192.2025.2492867
    • Zheng, C., Wilkens, U. (2025). Antecedents of Enhancing Diversity and Inclusion with AI Tools—An HR Perspective. In: Moussa, M., McMurray, A. (eds) The Palgrave Handbook of Breakthrough Technologies in Contemporary Organisations. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-96-2516-1_12

    …………………………………………………………………………………………………………………………

    Contact for interview: Connie Zheng, Associate Professor in Human Resource Management, Co-Director, Centre for Workplace Excellence, UniSA, E: Connie.Zheng@unisa.edu.au
    Media contact: Melissa Keogh, Communications Officer, UniSA M: +61 403 659 154 E: melissa.keogh@unisa.edu.au

    Other articles you may be interested in

    MIL OSI News –

    May 21, 2025
  • MIL-OSI USA: Warner, Kaine, Colleagues Introduce Legislation to Combat Doge’s Unsafe Retention of Personal Information

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine
    WASHINGTON, D.C. — Today, U.S. Senators Mark R. Warner (D-VA), a member of the Senate Committee on Banking, Housing, and Urban Affairs, Tim Kaine (D-VA), Chris Van Hollen (D-MD), Angela Alsobrooks (D-MD), Adam Schiff (D-CA), Ben Ray Luján (D-NM), and Peter Welch (D-VT) introduced the Defending Our Government’s Electronic data: Bolstering Responsible Oversight & Safeguards (DOGE BROS) Act, legislation to hold Elon Musk and the Department of Government Efficiency (DOGE) accountable for their continued efforts to improperly access, and retain, individuals’ personally identifiable information (PII) including names, addresses, phone numbers, email addresses, Social Security numbers, and other financial information.
    “As unvetted and unqualified DOGE employees continue to recklessly access the sensitive personal information of millions of Americans, it’s important that we take steps to better protect this data,” Warner said. “For too long, our privacy laws have sat outdated, barely serving as a deterrent for improper handling or potential release of information. This legislation would enforce that privacy must be a priority when handling the data of the American public.”
    “Elon Musk and his ‘Department of Government Efficiency’ are wreaking havoc across the government and gaining access to Americans’ sensitive information without proper authorization, which poses significant privacy and national security concerns,” Kaine said. “That’s why I’m introducing this bill to increase the penalties for violating privacy laws and help safeguard Americans’ personal information.”
    “Elon Musk and his DOGE cronies have been illegally ransacking federal agencies to gain access to troves of Americans’ sensitive personal data – from Social Security numbers to medical records to bank account information. Strengthening penalties for the theft of this data will help further deter these illegal abuses and keep Americans’ private information safe,” Van Hollen said.
    “The American people do not want Elon Musk knowing their Social Security numbers and sifting through their financial information. Musk and his team of wildly unqualified DOGE employees have gone too far – and we are sick of it. The Senate needs to prove we care more about those we serve than Elon Musk. Let’s immediately pass this legislation to protect the data and privacy of the American people,” Alsobrooks said.
    “From day one, Elon Musk’s DOGE has taken a wrecking ball to the federal government and critical services for the American people, all while carelessly pursuing their sensitive personal data,” Luján said. “Congress must do more to protect that information and keep it out of the wrong hands. That’s why I’m proud to join my colleagues in introducing legislation to strengthen our privacy laws and put Americans’ privacy first.”
    “Elon Musk’s so-called ‘Department of Government Efficiency’ and his DOGE agents are wreaking havoc on the federal government and the programs millions of Americans rely on. There’s no reason DOGE should gain access to Vermonters’ personal information, and I’m working with my colleagues to hold DOGE accountable and protect peoples’ privacy and data,” Welch said. 
    The United States has existing laws that are designed to protect personal information held by the government. However, the penalties established in these various laws have not been properly adjusted or increased to account for inflation, making them far less impactful today. The DOGE BROS Act would increase five penalties for violation of federal privacy laws to better protect the sensitive information that DOGE is accessing in their reckless purge of the federal government. Specifically, the DOGE BROS Act would increase the following existing penalties for the unauthorized release of the following information:
    Individually Identifiable Information Contained Within Any Agency Record 
    Code Section: 5 U.S.C. §552a(i)(i, ii, iii)
    Current Penalty: up to $5,000
    Proposed Penalty: up to $30,000

    Information from Any Department or Agency of the United States Obtained Using a Computer Without Authorization
    Code Section: 18 U.S.C. 1030(a)(2)(B)
    Current Penalty: up to $250,000
    Proposed Penalty: up to $750,000

    Social Security and Medicare Data
    Code Sections: 42 U.S.C. §1306
    Current Penalty: up to $10,000
    Proposed Penalty: up to $25,000

    Tax Return Information
    Code Section: 26 U.S.C. §7213
    Current Penalty: up to $5,000
    Proposed Penalty: up to $25,000

    Census Data
    Code Section: 13 U.S.C. §214
    Current Penalty: up to $5,000
    Proposed Penalty: up to $25,000

    Copy of the bill text is available here.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: Welch Grills Trump’s Pick to Lead IRS 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    Welch on Trump using the IRS for political goals: “The president is not restrained by what’s legal or not.” 
    WASHINGTON, D.C.—In a Senate Finance Committee hearing today, U.S. Senator Peter Welch (D-Vt.) grilled President Trump’s nominee to lead the Internal Revenue Service (IRS). Senator Welch asked former Congressman Billy Long about how cuts to IRS staff will affect the ability of the IRS to hold billionaire tax cheats accountable, and how gutting IRS funding and staff will hurt services and help for U.S. taxpayers. Senator Welch also questioned Mr. Long on President Trump’s actions to undercut institutes of higher education. 
    Welch: The Administration, President Trump, has specifically gone after higher education. There have been significant cuts in research funding to Columbia, to Harvard, and to other universities. The president, who will be your boss, has explicitly stated that he wants to eliminate the tax-exempt status for Harvard. What’s your opinion about the recommendation by the president that Harvard loses its tax-exempt status?  
    Long: I’m not over there. I haven’t seen why they would think that. But it’s something I want to get into and figure out once I’m over there. I’ve never been around it, so I don’t know. 
    Welch: One of the concerns here is that if a president is using the IRS as a tool to achieve his goals— 
    Long: That should not be done by anybody. 
    Welch: Alright, so you will tell Trump to pound sand if he comes to you as Commissioner— 
    Long: That’s my understanding. Like I said, if it is fair, not fair, legal, or not legal. If what you are saying is not legal, it should not be done and nobody should by able to do that.  
    Welch: You know, the President is not restrained by what’s legal or not…The president is explicitly stating he wants to go after Harvard—or [another] higher education institution is next—you will be in the line of fire on that. And what I’m looking for from you is not something you are able to give me right now, and that’s assurances that you will tell the president ‘no’ when he is using the IRS for a political objective. 
    Long: I said earlier the IRS will not and should not be politicized on my, or any, watch. 
    Watch the full exchange here: 
    ■■■ 
      
    Senator Welch’s Committee and Subcommittee Assignments for the 119th Congress include:  
    Senate Committee on Finance   
    Senate Committee on Agriculture, Nutrition, & Forestry 
    Ranking Member, Subcommittee on Rural Development, Energy, and Credit   
    Senate Committee on the Judiciary 
    Ranking Member, Subcommittee on the Constitution   
    Senate Committee on Rules & Administration 
    Learn more about his work by visiting his website or by following him on social media. 

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: 10 tips on self-advocacy from the Breaking Barriers Conference

    Source: US State of Oregon

    embers of Oregon’s intellectual and developmental disabilities (I/DD) community gathered at the Breaking Barriers: Life Beyond Labels conference in late April. The Central Oregon Disability Support Network (CODSN) hosts the annual event in Redmond. The network’s executive director, Dianna Hansen, said, “It’s important for us as families, people with disabilities, service providers and educators to come together and learn from each other.”

    I went with coworkers from the Office of Developmental Disabilities Services (ODDS). We enjoyed learning from 58 presenters. They included self-advocates, family members, care professionals and other allies of the I/DD community. They shared their experiences at 32 sessions. Seventy-five vendors had exhibition tables. Twelve vendors were self-advocates who sold their art.

    Hansen said attendance was at full capacity: 600 attendees! The top four words people used on their evaluations to describe their experience were encouraged, connected, excited and inspired. If you want to go next year, save the date for April 21, 2026.

    Here are 10 takeaways from the conference:

    1. Words matter.

    Ramonda Olaloye is the assistant superintendent of the Oregon Department of Education’s Office of Enhancing Student Opportunities (OESO). She opened the conference with a speech. Olaloye works to create an education system where every child reaches their full potential.

    Olaloye spoke about some challenges of I/DD service system. She has two daughters. Her youngest has autism. One day at school, a teacher asked her, “Why can’t you be like your older sister?” After that, Olaloye noticed her daughter acting out at school. A self-described “ferocious advocate” for her daughters, Olaloye spoke to the teacher. Reflecting on this experience, she said:

    “Educators shape experiences with their words. Because their words — our words — carry weight. Our children deserve to be recognized as individuals, not compared and not dismissed. Breaking barriers means challenging the way we communicate, the assumptions we make and the systems we uphold. And, it starts with seeing each child for who they are, not who we expect them to be.”

    2. Presume competence in everyone you meet.

    Hansen spoke to me about a similar experience. Her daughter has Down syndrome. When they’re out at a restaurant, servers often ignore her daughter and ask Hansen, “What does she want?”

    Her daughter is a second-year culinary student. She cooks her own meals. She graduated high school with honors.

    People often presume someone who experiences I/DD can’t speak for themselves. Hansen encourages everyone to presume competence in people. This is one of the main values she hopes people took from the conference: “Giving that dignity to people — that they are able to answer and make their own decisions.”

    3. Forget the traditional meaning of independence.

    Keynote speaker Alva Gardner challenged people’s understanding of independence. “Independence doesn’t always mean doing everything yourself,” she said. “We, as a system, need to forget about that traditional definition of independence. No one lives a life that is 100 percent independent of other people 100 percent of the time. We are all interdependent in some way throughout our life.”

    Gardner has been a public speaker since she was 8 years old. She runs her own company, The 4*3 Perspective LLC. She works with organizations to make systemic changes that support all people, especially people with disabilities. She was the first person with a developmental disability to become a certified person-centered thinking (PCT) trainer.

    Gardner has cerebral palsy. She spoke about the supports she gets. She works with personal attendants for 100 percent of her personal care. The supports that she uses free her to go about her day, care for her family, and run her business. She asked attendees what kind of supports they use in their lives: haircuts, car services, childcare, doctor visits, etc. Then, she redefined independence.

    “Independence comes from living a self-directed life and utilizing the supports that are available to you in order to do that,” she said. “In the person-centered thinking training, we ask people to identify what is important to them and how they want to be best supported, and get really specific on how they define supports for themselves. As a system, when truly taking a person-centered approach, I believe we need to start by being intentional about how people define independence for themselves. What does independence look like and mean for that person?”

    4. Teach self-advocacy at a young age.

    Both keynote speakers encouraged parents to teach independence and self-advocacy to their children.

    Olaloye gave her daughter age appropriate roles in her Individual Support Planning (ISP) meetings. This is a meeting where individuals plan their services and supports each year. In elementary school, her daughter was part of a conversation about moving from one-on-one instruction into a classroom where an aide helped the entire class. Olaloye has been using the ISP process to help her daughter learn to express her needs. She has given her daughter bigger roles in her ISP meetings as she aged. Now a sophomore in high school, Olaloye’s daughter is prepared to manage her own supports when she goes to college.

    5. Make advocating for yourself easier. This takes preparation.

    Gardner spoke about the challenge of constantly advocating for oneself: “Having to share our preferences with all of the various DSPs [direct support professionals], case managers, personal care attendants, etc. that come in and out of our lives … It gets incredibly tiring and incredibly draining, and frankly boring. I don’t want to have to repeat the same thing over and over again. I have better things to do.”

    One way she eases this burden is by creating one-page descriptions for each aspect of her life. She has different versions for home, work, and other situations. On them, she describes her support needs, preferences and what’s important to her about that aspect of her life. She said that doing this “is especially important when you might just be learning what those [preferences and desires] are and how to communicate those for the first time.” She recommends updating this information as one’s needs change.

    6. Use the new Self-Advocate Guide to Intellectual and Developmental Disabilities (I/DD) Services to help plan your services.

    ODDS and the Oregon Self-Advocacy Coalition (OSAC) shared a new tool: the Self-Advocate Guide for I/DD Services. They created it to make planning easier.

    The guide is a workbook. It takes self-advocates through the service planning process. It asks questions to help people communicate their desires, needs and goals. It helps people lead their service planning.

    OSAC Executive Director Gabrielle Guedon spoke about the planning process: “It’s about looking at what you really want or don’t want in your life. We’re going to continuously change. Every year you have an opportunity to change. I know it’s a hard process that we have to do, but there are opportunities to put in what you want and don’t want. Be honest and clear.”

    Find the guide on the ODDS website. You can download it. It’s available in a number of languages. Parents, family members and case managers can also use the guide to improve their support of self-advocates.

    7. Don’t let the bullies stop you from pursuing your goals and dreams.

    Felicity Woods, a self-advocate and CODSN board member, also spoke about the Self-Advocate Guide. Woods shared how some at her school misunderstood disability. She, like many children with I/DD, was bullied in elementary school. She said learning to share one’s story — the successes and barriers one faces — is an important part of self-advocacy. She encouraged people to use the Self-Advocate Guide.

    “I want to make my own choices and decisions about what I want,” Woods said. “It’s up to me and you, individuals, to make the choices for what we want.”

    Speaking of bullies, Guedon added, “Don’t let a bad experience stop you. Let it fuel you.”

    8. Help organize other self-advocates.

    Felicity Woods and Jordan Ohlde are members of High Desert Self Advocacy. This is a peer group of self-advocates in the Bend/Redmond area. They presented, “Growing Stronger and Time to Thrive.” ODDS employee Ryley Newport joined them. They spoke about how to expand and empower self-advocacy. To do this, High Desert Self Advocacy created a Planning Alternative Tomorrows with Hope (PATH) plan.

    PATH is a creative planning tool. Two trained facilitators from ODDS led the group through the PATH process. They used graphics and discussion to help the group envision their future. Then, they worked backwards from that vision to form a plan to reach their goals.

    As a result, High Desert Self Advocacy spoke at Breaking Barriers. They will also be at the Oregon State Capital on June 12 to lobby for disability rights. They are presenting at The Arc Oregon’s Self-Advocacy Convention that week.

    Woods and Ohlde encouraged self-advocates to reach out to them at High Desert Self Advocacy. They want to help their peers form self-advocacy groups around the state. Connect with them via their Facebook page.

    9. Model accessibility.

    CODSN modeled accessibility at the conference. Hansen said CODSN made the conference accessible to people of all financial means. CODSN provided scholarships for 176 self-advocates and 130 families. They also made the space physically accessible to all. A sensory room gave people a space free from the noise and crowd. A changing room gave attendees a private space for personal care.

    The conference also modeled how to provide language access for Spanish speakers. Interpreters Isabel Ramirez and Joy Christian, a team from Grapevine Aliados, provided Spanish and English interpretation for the last three conferences. They said the conference offers a full track of sessions in Spanish. Attendees can sign up for the Spanish track when they register. They can also request Spanish interpretation for English-language sessions.

    10. Self-advocacy never stops.

    Self-advocate Jordan Ohlde was one of eight individuals that sued the Oregon Department of Transportation. They wanted to make a crosswalk in their neighborhood accessible to all, including those who use wheelchairs. It took time and perseverance, but in the end, they won. The street is now passable to all.

    “Self-advocacy never stops. There’s aways a different start, another path. Your job never stops,” Ohlde said. “A lot of kids are told, your voice doesn’t matter, when really, your voice does matter. You just have to figure out how it matters to you.”

    Upcoming self-advocacy conferences in Oregon

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI Australia: Targeted traffic apprehensions – Ramingining

    Source: Northern Territory Police and Fire Services

    Northern Territory Police have seized over $48,000 in cash, along with quantities of kava, cannabis, tobacco, and alcohol during targeted traffic stops in the Central Arnhem Region.

    On 19 May 2025, Ramingining Police intercepted a green Toyota Hilux on the Ramingining Access Road, approximately 20km from the community. During the traffic stop a passenger fled on foot into bushland nearby. Police conducted a lawful search of the vehicle and subsequently seized quantities of alcohol, cannabis, and kava. A 30-year-old man located in the vehicle tray was arrested and charged with Possess Property in relation to the Commission of an Offence after officers located over $48,000 in his possession. He was bailed to appear in Darwin Local Court on 8 July 2025.

    Shortly after, police stopped a second vehicle on the same track. A search uncovered tobacco, kava, alcohol, and items indicative of drug supply. Three men and one woman, aged between 41 and 65, were arrested and charged with multiple offences including:

    • Supply Trafficable Quantity of Kava
    • Enter on Aboriginal Land Without a Permit
    • Sell Tobacco Without a Retail Licence

    They were remanded to appear in Darwin Local Court yesterday.

    Ramingining Police continue to target the unlawful supply of alcohol and drugs into remote communities.

    Anyone with information is urged to contact police on 131 444 or anonymously via Crime Stoppers on 1800 333 000.

    MIL OSI News –

    May 21, 2025
  • MIL-OSI New Zealand: Budget 2025 – Greenpeace braced for ‘scorched earth’ budget from Govt

    Source: Greenpeace

    With the Government set to release its Budget tomorrow, Greenpeace is calling for bold investment in climate and nature, but is bracing for the worst.
    “Given that this Government just legalised killing kiwi, we’re bracing for a Scorched Earth Budget,” says Greenpeace Aotearoa spokesperson Gen Toop.
    Greenpeace has been critical of the Luxon-led Government’s anti-environment policies, but says that the PM’s war on nature does not have to continue in the 2025 Budget.
    Budget 2024 decreased funding for DOC to such an extent that last year the agency was asking for public donations to fund its work and is this year reportedly facing a 30% shortfall for maintaining its hut and track network.
    “This Budget is a chance for the Government to change course from its war on nature,” says Toop. “It’s a chance to invest in climate action, protect biodiversity, and support everyday people with the cost of living – that’s what a responsible, future-focused Budget would do.”
    “People have a right to clean water, a livable climate, and groceries and power bills they can afford. Any budget that prioritises corporate profits and tax cuts for landlords instead of those basic rights is not the kind of budget we need,” says Toop.
    Greenpeace says a Budget that truly tackles the climate, biodiversity, and cost of living crises would:
    • Make a significant investment in distributed solar to bring down power bills, reduce emissions and help communities generate their own energy.
    • Create an ecological farming fund to support farmers to transition away from intensive dairy and take advantage of the rise in demand for plant-based food.
    • Bring back Jobs for Nature, funding real employment in the restoration of forests, rivers and wetlands to combat the biodiversity crisis.
    • Fund it all by taxing corporations and the ultra-wealthy, starting with bringing the country’s biggest climate polluter, Fonterra and intensive dairying into the Emissions Trading Scheme.
    Since taking the reins, the Government has abolished the clean car discount; forced the Ministry for the Environment, the Environmental Protection Agency and the Department of Conservation to cut jobs; canceled the Auckland Light Rail Project; cut public transport subsidies for young people; and steadfastly refused to put agriculture into the Emissions Trading Scheme.

    MIL OSI New Zealand News –

    May 21, 2025
  • MIL-OSI USA: 30 Transformational Projects Announced in the Capital Region

    Source: US State of New York

    overnor Kathy Hochul today announced awards for a total of 30 transformational projects for the Capital Region as part of two economic development programs: the Downtown Revitalization Initiative and NY Forward. Thirteen projects were announced for Lake George, the Round 7 winner of a $10 million DRI award; 11 projects were announced for Hoosick Falls, a Round 2 winner of a $4.5 million NY Forward award; and six projects were announced for Schuylerville, also a Round 2 winner of a $4.5 million NY Forward award.

    “Through the Downtown Revitalization Initiative and NY Forward, we are empowering local leaders, driving smart growth, and creating vibrant, resilient downtowns where people want to live, work, and visit. This is how we build a stronger New York — one community at a time,” Governor Hochul said. “These 30 transformative projects are a testament to our commitment to strengthening communities across the Capitol Region.”

    Town/Village of Lake George

    The Town and Village of Lake George’s vision focuses on improving the quality of life and sense of place for the Canada Street corridor and adjacent waterfront. The DRI projects will create a more vibrant and prosperous downtown, assist a growing population and enhance the “visitor experience.”

    The 13 Lake George DRI projects, totaling $9.7 million, include:

    • Construct the Shepard Park Amphitheater ($1,500,000): Redesign and reconstruct the Shepard’s Park bandstand and amphitheater, restoring its status as a regional music and events destination. The scope includes necessary site-works, landscape accessibility improvements and facility upgrades such as performance space build-out, AV/lighting equipment and a designated basement storage space.
    • Winterize & Enhance The Lagoon and The Village Mall ($1,252,000): Upgrade, modernize and winterize the Village Mall including the Lagoon restaurant, by enclosing both ends and conducting extensive interior and facade renovation works. This would allow for year-round operation of 16 retail/commercial spaces.
    • Develop the Shepard’s Park Lakewalk & Build an Accessible Observation Deck ($2,300,000): Enhance an underutilized portion of the public Shepard’s Park beach through urban and landscape design enhancements, improved stormwater management practices and accessibility improvements. Create an accessible observation atop the public bathroom.
    • Re-inter Historic Remains at the LG Battlefield Park ($519,000): Implement the commemorative project at the Lake George Battlefield State Park, which features columbaria, educational signage, plaza space and memorials related to the over 40 remains discovered on Courtland Street in 2019.
    • Improve Accessibility at Caldwell Library ($433,000): Construct a 350 sq. ft. rear addition to the Caldwell Library, aimed at improving accessibility through the installation of a lift and reconfiguring the interior layout to enhance circulation. Includes ADA-compliant bathroom renovations and the reorganization of spaces to facilitate better navigation.
    • Enhance Music/Entertainment Productions in the DRI Area ($600,000): Acquire specialized music, audio-visual and lighting equipment to enhance year-round entertainment, product capacity and programming within the DRI Area.
    • Accessibility, Efficiency and Aesthetic Upgrades at the Old County Courthouse ($450,000): Rehabilitate the Old County Courthouse through a series of interventions, including: building an accessible ramp near the main entrance, replacing and/or rehabilitating windows and lighting, interior museum casework upgrades and a sculptural bateaux addition on the front lawn.
    • Create a Lake George Art & Canoe Trail ($375,000): Design, siting and installation of 18 uniquely painted canoes and paddles, as well as three murals throughout the DRI area, showcasing and cultivating regional talent while beautifying the area.
    • Renovate & Expand 267 Canada into a Mixed-Use Building for Students & Hospitality Workers ($266,000): Revitalize a deteriorating property into a mixed-use building with an upgraded restaurant and ADA accessible patio space on the ground floor, five fully furnished student or workforce housing units on the 2nd floor and parking lot improvements.
    • Create a Downtown Heritage Wayfinding Project ($350,000): Install dual-sided wayfinding signs throughout the downtown to aid navigation, highlight local points of interest and promote Lake George’s history. The project also includes the design and installation of two new Gateway signs for the Town and Village.
    • Enhance South Canada’s Streetscape through Pedestrian Oriented Design ($780,000): Enhance South Canada’s streetscape by improving pedestrian amenities and increasing safety features, while connecting to the Town Gateway. Upgrades include expanding accessible sidewalks, new benches, intersection improvements, stormwater management and new LED streetlights.
    • Expand the DT Circulator Trolley & Enhance Bus Stops ($275,000): Install up to six new bus shelters with bike racks and reconfigure the downtown Lake George Circulator Trolley to improve service and connectivity for residents, tourists and the workforce.
    • Establish a Small Projects Fund for Winterization & Building Improvements ($600,000): Establish a locally managed matching small project fund to undertake a range of smaller downtown projects such as facade enhancements, building renovation improvements to commercial or mixed-use spaces and winterization efforts.

    Village of Hoosick Falls

    The Village of Hoosick Falls’ vision focuses on creating safe, walkable and accessible corridors that will serve as transformative connectors among past and future public, private and non-profit projects. Connecting these projects will transform Hoosick Falls into a cohesive economic generator to grow the job and population base locally, with positive ripple effects for the Capital Region’s vision and strategies.

    The 11 Hoosick Falls NY Forward Projects, totaling $4.5 Million, include:

    • Unlock the Full Potential of the HoosArt Center by Making the Wood Block Fully Accessibility ($850,000): Restore the Wood Block Building into a mixed-use building with commercial tenants on the first floor and a community center for creativity on the upper floors ideal for performing arts, public event space, poetry readings and workshops.
    • Revitalize the Commercial and Residential Spaces in the Saluzzo Building ($558,000): Revitalize the mixed-use building on Classic Street, renovating and upgrading the existing eight apartments and three commercial spaces while adding four additional apartments. A commercial kitchen will also be installed as an amenity to the commercial spaces.
    • Upgrade the Town Skating Rink to Expand Recreational Opportunities ($1,000,000): Upgrade the cooling systems and enclose the existing structure of the Town of Hoosick Skating Rink to expand recreation, generate revenue and accommodate regional hockey teams.
    • Develop the STAY ApARTments at 9-15 John Street ($470,000): Redevelop the top floor of the historic building on John Street into four residential units and improve the overall building’s energy efficiency, which already contains a pizza shop, art gallery and four popular short-term rentals.
    • Redevelop the Former Firehouse into a Restaurant ($209,000): Redevelop the old firehouse and adjacent vacant lot into a functional and inviting restaurant space with outdoor patio seating. The second floor will be transformed into an event space accommodating 80-120 people.
    • Rehabilitate 114 Church Street to Return Vacant Residential Units into Service ($300,000): Renovate the building at 114 Church Street to provide seven new apartment units for the Village. This process will include new roofing, framing and full apartment rehabilitation.
    • Enhance the Sand Bar Through Expanded Outdoor Dining and Volleyball Court Facilities ($112,000): Add a third outdoor volleyball court to the Sand Bar, as well as expand outdoor dining for the restaurant by constructing two new decks and replacing some fences and sidewalks.
    • Transform the Abandoned Warehouse at 1 Center Street into a Mixed-Used Building ($438,000): Rehabilitate and transform an abandoned warehouse at 1 Center Street into a mixed-use building with two (out of an eventual 18) residential rental units and three commercial spaces, including a fitness facility, brewery and woodworking shop.
    • Improve and Expand Pedestrian Infrastructure Downtown ($301,000): Improve pedestrian infrastructure in the Village by replacing sidewalks and curb ramps, adding lighting and new signage and partially reconfiguring lower Classic Street with a wider sidewalk and improved stormwater management.
    • Improve the Hoosic River Greenway Trail Connections ($190,000): Improve the Hoosic River Greenway Trail by unifying the disjointed parts, connecting it with other recreational assets, beautifying the area around it and marketing it to attract visitors.
    • Create a Game Store and Community Space at 72 Main Street ($72,000): Renovate the commercial space at 72 Main Street to create a game store and community-gathering space for all ages that can hold various events in collaboration with the senior center, school and youth center.

    Village of Schuylerville

    The Village of Schuylerville’s vision focuses on building upon previous investments and partnerships to increase housing opportunities that will attract more residents; offer new public park and event amenities; create more commercial tourist attractions and overnight lodging; and improve historic signage and wayfinding.

    The 6 Schuylerville NY Forward Projects, totaling $4.5 Million, include:

    • Build a New Village Community Center ($2,248,000): Build a new community center to house the Schuylerville Youth Program and Olde Saratoga Seniors group, as well as serve as an event space for public and private events. The community center will include public restrooms, office space and a kitchen. The Canal Mosaic Landmark will also be installed in the exterior public space.
    • Reconnect the Old Champlain Canal under Ferry Street ($1,050,000): Build a clear span bridge (or large box culvert) with two lanes of traffic and a pedestrian and bike path over the Champlain Canal on Route 29, allowing water and small watercrafts to travel between the Old Champlain Canal and Turning Basin.
    • Construct a New Mixed-Use Building at the Hotel Schuyler Site ($750,000): Develop a new, three-story, mixed-use building that will provide space for up to three businesses and between 8 and 14 rental housing units. The building would be constructed on a vacant lot along Broad Street, contributing to the commercial corridor’s streetscape.
    • Renovate the Canal Square Building ($179,000): Renovate the existing building to expand commercial capacity, improve the exterior façade and pave the parking lot. Additional work will be done to reduce the impact of flooding.
    • Expand Kickstart Café ($187,000): Expand the interior of Kickstart Café to incorporate additional cooperative use garage space. These additions will require new foundation, exterior walls, relocation of the kitchen and bar area and an outdoor deck area for seating.
    • Enhance Signage and Wayfinding around the Village ($86,000): Improve signage and wayfinding within the Village, specifically for visitors, pedestrians, bicyclists and users of the Empire State Trail. The signage will also present historical information in Fort Hardy Park and promote various businesses within the main business district.

    In the FY2025 Enacted Budget, Governor Hochul made the “Pro-Housing Community” designation a requirement for cities, towns and villages to access up to $650 million in State discretionary programs, including the Downtown Revitalization Initiative and New York Forward. To date, more than 300 municipalities across the State have become certified. To further support localities that are doing their part to address the housing crisis, Governor Hochul secured $100 million in the FY2026 Enacted Budget to create a Pro-Housing Supply fund to assist certified Pro-Housing Communities with critical infrastructure projects necessary to create new housing, such as sewer and water infrastructure upgrades.

    New York Secretary of State Walter T. Mosley said, “When we invest in our downtowns, we’re investing in the heart of our communities. Through the Downtown Revitalization Initiative and NY Forward program, we’re not just funding projects – we’re fostering vibrant, walkable neighborhoods that spur economic growth, enhance quality of life for residents and preserve the unique character of each municipality and region. These signature programs exemplify our commitment to ensuring that every New Yorker, in every corner of our State, has the opportunity to succeed and thrive.”

    Empire State Development President, CEO, and Commissioner Hope Knight said, “The Downtown Revitalization Initiative and NY Forward programs are transforming communities across New York State by turning local visions into bold investments to generate place-based economic development. These projects will create new opportunities for businesses, support vibrant public spaces, and attract residents and visitors alike – laying the foundation for sustainable growth and stronger regional economies.” 

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “All across this State, the Downtown Revitalization Initiative and NY Forward programs are strategically prioritizing communities, growing economies with targeted awards, creating more housing opportunities that improve affordability for New Yorkers where it is most needed, and building on the diverse character of our neighborhoods. By working with local and municipal partners, these awards continue Governor Hochul’s commitment to developing the full potential of our downtowns as economic drivers and attractive places to live.”

    CREDC Co-Chairs Ruth Mahoney and Dr. Havidán Rodríguez said, “The 30 regionally informed and strategic DRI and NY Forward projects will make Lake George, Hoosick Falls and Schuylerville even more vibrant for residents and visitors alike. Whether it’s adding housing, increasing recreational opportunities, or creating spaces for more businesses to grow and thrive, the entire Capital Region will benefit from the vision these initiatives are supporting and making a reality, both now and for a sustainable future.”

    Assemblymember Scott Bendett said, “The allocation of $4.5 million for development, and redevelopment in the Village of Hoosick Falls is welcome news for residents who have gone through so much in recent years. This year already brought the good news of a new water supply to the village, and with 11 new, state-funded projects on the horizon, there is even more to look forward to. I appreciate the state taking notice of opportunities in our smaller municipalities, and taking action to see them through.”

    Assemblymember Carrie Woerner said, “The Village of Schuylerville is on the rise! I applaud the vision of the Schuylerville Village Mayor and Trustees, and the community members who contributed to this plan to move the Village forward. With thanks to Governor Hochul for her leadership in supporting the re-investment in historic downtowns across the state.”

    Village of Lake George Mayor Ray Perry said, “We at the Village of Lake George and the entire Lake George community are ecstatic to see these projects move forward! We are extremely thankful to the Governor and her team to be able to improve upon the Lake George experience for our residents as well as our visitors! I’m happy to say that there are great things to come!”

    Town of Lake George Supervisor Vincent Crocitto said, “We would like to thank the state for believing in Lake George. This initiative represents a shared vision of revitalization that honors the unique character of Lake George while embracing innovation and economic opportunity, with the support of our town, village, county, local business partners and leadership from the state, we’re ready to make meaningful progress for our community.”

    Village of Hoosick Falls Mayor Dan Schuttig said, “The New York Forward program will provide an incredible, transformative opportunity for the Village of Hoosick Falls. I would like to thank Governor Kathy Hochul for leading the effort to revitalize upstate communities. I would also like to thank the local committee for their hard work putting together such incredible projects that will forever improve the lives of Village residents. This is the first step of many towards the revitalization of our beautiful village here on the Hoosic River!!”

    Village of Schuylerville Mayor Dan Carpenter said, “We are incredibly grateful to Governor Hochul for her continued commitment to the economic revitalization of small upstate communities like ours. This $4.5 million investment through the NY Forward program will allow Schuylerville to build on our historic charm and community spirit by creating new housing opportunities, enhancing our parks and public spaces, and expanding our commercial and cultural attractions. From the long-awaited Village Community Center to the reconnection of the Old Champlain Canal, these transformative projects will benefit residents and visitors alike. We are excited to get to work and bring these visions to life.”

    DRI and NY Forward communities developed Strategic Implementation Plans (SIPs), which create a vision for the future of their downtown and identify and recommend a slate of complementary, transformative and implementable projects that support that vision. The SIPs are guided by a Local Planning Committee (LPC) comprised of local and regional leaders, stakeholders and community representatives, with the assistance of an assigned consultant and DOS staff, all of whom conduct extensive community outreach and engagement when determining projects. The projects selected for funding from the SIP were identified as having the greatest potential to jumpstart revitalization and generate new opportunities for long-term growth.

    About the Downtown Revitalization Initiative

    The Downtown Revitalization Initiative was created in 2016 to accelerate and expand the revitalization of downtowns and neighborhoods in all ten regions of the state to serve as centers of activity and catalysts for investment. Led by the Department of State with assistance from Empire State Development, Homes and Community Renewal and NYSERDA, the DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation and results in compact, walkable downtowns that are a key ingredient to helping New York State strengthen its economy, as well as to achieving the State’s bold climate goals by promoting the use of public transit and reducing dependence on private vehicles. Through nine rounds, the DRI has awarded a total of $900 million to 91 communities across every region of the State.

    About the NY Forward Program

    First announced as part of the 2022 Budget, Governor Hochul created the NY Forward program to build on the momentum created by the DRI. The program works in concert with the DRI to accelerate and expand the revitalization of smaller and rural downtowns throughout the State so that all communities can benefit from the State’s revitalization efforts, regardless of size, character, needs and challenges.

    NY Forward communities are supported by a professional planning consultant and team of State agency experts led by DOS to develop a Strategic Investment Plan that includes a slate of transformative, complementary and readily implementable projects. NY Forward projects are appropriately scaled to the size of each community; projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that enhance specific cultural and historical qualities that define and distinguish the small-town charm that defines these municipalities. Through three rounds, the NY Forward program has awarded a total of $300 million to 60 communities across every region of the State.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: Governor Kehoe Signs Executive Order 25-24 Allowing Missourians Affected by Tornadoes and Severe Storms to Continue Receiving Prescribed Medications

    Source: US State of Missouri

    MAY 20, 2025

    Jefferson City — Today, Governor Mike Kehoe signed Executive Order 25-24 to further assist affected individuals whose prescriptions were lost or destroyed, whose records are not available, or whose original prescribing physician is unavailable, to be able to continue to receive prescribed medications.

    “To ensure the health and safety of those impacted by these recent devastating storms, we must ensure that Missourians are able to continue receiving prescribed medications in a timely manner,” Governor Kehoe said. “This executive order grants the Missouri Department of Health and Senior Services and the State Board of Pharmacy discretionary authority to temporarily waive or suspend rules and regulations which will allow medical professionals to better assist those affected by storms. We thank the medical professionals across our state who are playing a critical role in helping Missouri communities recover.”

    Governor Kehoe first declared a State of Emergency on March 14, 2025, through Executive Order 25-19 in preparation for severe weather. The State of Emergency declaration in Executive Order 25-19 was subsequently extended by Executive Order 25-22 and Executive Order 25-23.

    Executive Order 25-24 will expire on June 30, 2025, unless otherwise terminated or extended. To view the Order, please click here.

    Additional May 16 Severe Storm Response Updates:

    Yesterday, Governor Mike Kehoe also requested President Trump issue a federal Emergency Declaration to expedite FEMA assistance and requested that FEMA participate in joint Preliminary Damage Assessmentsfor City of St. Louis, St. Louis County, and 6 Southeast Missouri Counties.

    A federal Emergency Declaration provides federal resources to support state response operations to protect lives, safeguard public health and provide for public safety. It does not delay or affect the process of pursuing a federal Major Disaster Declaration, which would provide Individual Assistance to help homeowners and renters, and Public Assistance, which would reimburse local governments for emergency response costs, debris removal, and repair and replacement of damaged roads, bridges, and other public infrastructure. Individual Assistance and Public Assistance require joint preliminary damage assessments by teams made up of representatives from FEMA, SEMA, the U.S. Small Business Administration, and local emergency management officials, extensive documentation, and a federal review process that can take weeks to complete.

    Beginning Wednesday, May 21, six teams will survey and verify documented damage in Cape Girardeau, Iron, New Madrid, St. Louis, Scott, Stoddard, and Wayne counties and the City of St. Louis to determine if Individual Assistance can be requested through FEMA. Individual Assistance allows eligible residents to seek federal assistance for temporary housing, housing repairs, replacement of damaged belongings, vehicles, and other qualifying expenses. Initial damage assessments for roads, bridges and other public infrastructure are ongoing, potentially resulting in a request for PDAs for Public Assistance in the future.

    Yesterday, Governor Kehoe also directed the Missouri National Guard provide a Liaison Officer (LNO) to assist the City of St. Louis with evaluating and advising local officials on potential appropriate missions for the Guard. This LNO reported to the St. Louis Emergency Operations Center this morning.

    The State of Missouri will continue to provide resources and personnel to St. Louis based on resource requests from the city and identified missions to meet the city’s needs. The Missouri National Guard maintains coordination with the Missouri State Emergency Management Agency (SEMA) to respond if critical capability gaps occur in the local agencies’ response efforts.

    State assistance so far has included the Missouri State Highway Patrol assisting with law enforcement, search and rescue efforts and traffic control; an 84-person Type 1 Urban Search and Rescue (US&R) team from Missouri Task Force 1 assisting with highly technical search and rescue efforts; SEMA sending regional coordinators and specialized personnel to assist with mass care, feeding and housing, donations management, and volunteer management. SEMA has also sent tarps and other supplies to assist with immediate needs.

    SEMA continues to coordinate with local officials and volunteer and faith-based partners to identify needs and assist impacted families and individuals. Missourians with unmet needs are encouraged to contact United Way by dialing 2-1-1 or www.211helps.org or the American Red Cross at 1-800-733-2767.

    For additional resources and information about disaster recovery in Missouri, including general clean-up information, housing assistance, and mental health services, visit recovery.mo.gov.

    ###

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI Russia: Financial news: 05/20/2025, 18-22 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JU0N7 (BMBankB02) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/20/2025 18:22

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC), on 20.05.2025, 18-22 (Moscow time), the values of the upper limit of the price corridor (up to 100.34) and the range of market risk assessment (up to 1044.77 rubles, equivalent to a rate of 11.25%) of the security RU000A0JU0N7 (BMBankB02) were changed.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.MO/N90385

    MIL OSI Russia News –

    May 21, 2025
  • MIL-OSI Russia: Financial news: Two Federal Treasury deposit auctions will take place on 21.05.2025

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    Application selection parameters
    Date of the selection of applications 05/21/2025
    Unique identifier of the application selection 22025132
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 50,000
    Placement period, in days 2
    Date of deposit 05/21/2025
    Refund date 05/23/2025
    Interest rate for placement of funds (fixed or floating) Fixed
    Minimum fixed interest rate for placement of funds, % per annum 20.05
    Basic floating interest rate for placement of funds –
    Minimum spread, % per annum –
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 09:30 to 09:40
    Pre-applications: from 09:30 to 09:35
    Applications in competition mode: from 09:35 to 09:40
    Formation of a consolidated register of applications: from 09:40 to 09:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 09:40 to 10:00
    Submission to credit institutions of an offer to conclude a bank deposit agreement: from 10:00 to 10:50
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 10:00 to 10:50
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n
    Application selection parameters
    Date of the selection of applications 05/21/2025
    Unique identifier of the application selection 22025133
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 50,000
    Placement period, in days 182
    Date of deposit 05/21/2025
    Refund date 11/19/2025
    Interest rate for placement of funds (fixed or floating) Floating
    Minimum fixed interest rate for placement of funds, % per annum –
    Basic floating interest rate for placement of funds Ruonmds
    Minimum spread, % per annum 0.00
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Closed
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 12:00 to 12:10
    Formation of a consolidated register of applications: from 12:10 to 12:20
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 12:10 to 12:30
    Submission to credit institutions of an offer to conclude a bank deposit agreement: from 12:30 to 13:20
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 12:30 to 13:20
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n

    RUONmDS = RUONIA – DS, where

    RUONIA – the value of the indicative weighted rate of overnight ruble loans (deposits) RUONIA, expressed in hundredths of a percent, published on the official website of the Bank of Russia on the Internet on the day preceding the day for which interest is accrued. In the absence of a RUONIA rate value published on the day preceding the day for which interest is accrued, the last of the published RUONIA rate values is taken into account.

    DS – discount – a value expressed in hundredths of a percent and rounded (according to the rules of mathematical rounding) to two decimal places, calculated by multiplying the value of the Key Rate of the Bank of Russia by the value of the required reserve ratio for other liabilities of credit institutions for banks with a universal license, non-bank credit institutions (except for long-term ones) in the currency of the Russian Federation, valid on the date for which interest is accrued, and published on the official website of the Bank of Russia on the Internet.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.M.M.

    MIL OSI Russia News –

    May 21, 2025
  • MIL-OSI Russia: Financial news: On holding auctions on May 21, 2025 to place OFZ issue No. 26239RMFS and issue No. 26246RMFS

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    For bidders

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

    1.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26239RMFS from 11.06.2021
    Date of the auction May 21, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code SU26239RMFS2
    ISIN code RU000A103901
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 12:00 – 12:30; bid execution period: 13:00 – 18:00.

    2.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26246RMFS from 08.05.2024
    Date of the auction May 21, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code SU26246RMFS7
    ISIN code RU000A108EE1
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.MO/N90376

    MIL OSI Russia News –

    May 21, 2025
  • MIL-OSI Russia: Yuri Trutnev held a meeting of the co-chairs of the Intergovernmental Russian-Chinese Commission on Cooperation and Development of the Russian Far East and the Northeast of China

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Yuri Trutnev held a meeting of the co-chairs of the Intergovernmental Russian-Chinese Commission on Cooperation and Development of the Russian Far East and the Northeast of China

    May 20, 2025

    Yuri Trutnev held a meeting of the co-chairs of the Intergovernmental Russian-Chinese Commission on Cooperation and Development of the Russian Far East and the Northeast of China

    May 20, 2025

    Previous news Next news

    Yuri Trutnev held a meeting of the co-chairs of the Intergovernmental Russian-Chinese Commission on Cooperation and Development of the Russian Far East and the Northeast of China

    A meeting of the co-chairs of the Intergovernmental Russian-Chinese Commission on Cooperation and Development of the Russian Far East and the Northeast of the People’s Republic of China was held in Moscow. The Russian part of the commission is headed by Deputy Prime Minister – Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yuri Trutnev. The head of the Chinese part of the commission is Vice Chairman of the State Council of the People’s Republic of China Zhang Guoqing.

    “Our meeting is taking place immediately after an important political event – the official visit of the Chairman of the People’s Republic of China Xi Jinping to Russia and his participation in the celebrations of the 80th anniversary of Victory in the Great Patriotic War. The leaders of our countries confirmed their course to strengthen good-neighborliness and cooperation. In late August – early September, Russian President Vladimir Vladimirovich Putin plans to visit China to participate in the summit of the Shanghai Cooperation Organization and the celebrations of the anniversary of the victory over Japan and the end of World War II. Relations between Russia and China are an important stabilizing factor in global politics and economics. I am confident that the work of our commission as one of the bridges of cooperation between Russia and China is of particular importance today. In recent years, our countries have faced unprecedented challenges, destabilization of international relations and the global economy. At the same time, Russian-Chinese ties continue to strengthen. In 2024, mutual trade turnover once again set a record, reaching almost 245 billion US dollars. “I am confident that our meeting today will contribute to the implementation of the agreements of the heads of state and government, primarily in the development of cooperation between the Russian Far East and Northeast China,” Yuri Trutnev opened the meeting.

    “In recent years, under the strategic leadership of the Chairman of the People’s Republic of China, Xi Jinping and the President of the Russian Federation Vladimir Vladimirovich Putin, Sino-Russian relations reached the highest level in their history and have become the standard of cooperation between world powers and neighboring countries. Our leaders set a course and direction for our further interaction, sent the whole world a clear signal about the stable and healthy development of Sino-Russian relations at a high level, which introduced stability and positive to a complex international situation. The key task of today’s meeting is to implement agreements between our leaders and conduct appropriate preparations for the upcoming meeting between them, as well as for regular meetings of the heads of government. Currently, individual countries under various pretexts abuse tariff measures, which grossly violating the laws, rights and interests of other states and seriously contradicts the Rules of the WTO, damages the multilateral trading system, undermines the stability of the global economic order. Such actions have a negative impact on the world supplies and production chains. In these conditions, it is important for us to consistently deepen cooperation in all areas, including the interaction of the north-east of the People’s Republic of China and the Far East of the Russian Federation in order to make an even greater contribution to the development of our countries, ”said Zhang Gotsin.

    The results and promising areas of joint work in the Russian Far East and the North-East of the People’s Republic of China were discussed. Over 6 years (from 2018 to 2023), the trade turnover of the Russian Far East with the People’s Republic of China increased by almost 2.5 times and exceeded 1.9 trillion rubles in 2023.

    In the territories of advanced development and in the free port of Vladivostok, 65 investment projects with a total investment volume of 1 trillion rubles are being implemented with the participation of Chinese capital. Projects with the participation of Chinese companies in the total investment volume in the Far East make up 10%. In a number of large projects, Chinese companies are technological partners, carry out work on the construction of new enterprises, and participate in start-up work.

    Work on the creation of a new preferential regime – an international territory of advanced development – is being completed. The regime was developed in cooperation with representatives of China and other countries. The draft law on international territories of advanced development was adopted in the first reading by the State Duma of the Russian Federation. The regime will be created by the end of this year. Chinese companies are showing interest in interaction within the new legal framework. Five companies from China have already applied as residents.

    The development of transport infrastructure was discussed. In 2024, the volume of bilateral foreign trade cargo transportation through border crossings and seaports of Russia and China increased by 9% to almost 176 million tons. In 2024, land checkpoints on the border with China increased cargo turnover from 40.4 to 45.9 million tons. A significant contribution to the growth was made by the opening of two new bridge crossings in 2022: Blagoveshchensk – Heihe and Nizhneleninskoye – Tongjiang. In 2024, 6.2 million tons of cargo were transported through them.

    The construction of a bridge in the area of the settlements of Jalinda (Russia) and Mohe (China) can contribute to the increase in freight traffic. Amur Region and Heilongjiang Province have formed a promising freight base. The location of the bridge has been agreed upon. On the Russian side, key participants in the project and the main technical parameters have been determined.

    The Russian side invited Chinese partners to further develop the Northern Sea Route. In 2024, the number of voyages carried out by Chinese companies in the NSR waters doubled and amounted to 14 voyages.

    On the instructions of Russian President Vladimir Putin, a project to create an innovative scientific and technological center on Russky Island is being implemented. Research and development centers in the fields of biotechnology, pharmaceuticals, biomedicine, marine engineering, artificial intelligence and big data are being created. The construction of a pilot building is nearing completion. Chinese organizations and departments, representatives of scientific communities have been invited to participate in the implementation of joint projects in these areas.

    “This September, the anniversary, tenth Eastern Economic Forum will be held in Vladivostok with the participation of the President of the Russian Federation. This event is invariably an important platform for developing cooperation with the countries of the Asia-Pacific region. China is traditionally one of the main guests of the Eastern Economic Forum. We invite our Chinese colleagues to take part in the work of the tenth Eastern Economic Forum in September this year,” said Yuri Trutnev.

    Summing up the meeting, Yuri Trutnev once again emphasized: “The Russian government is open to dialogue and is ready to provide support to Chinese partners in the Far East.”

     

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    May 21, 2025
  • MIL-OSI Security: Lexington Attorney Agrees to Plead Guilty to Embezzling More Than $3 Million From Companies and Relatives

    Source: Office of United States Attorneys

    Defendant allegedly embezzled hundreds of thousands of dollars from relatives with disabilities

    BOSTON – A Lexington, Mass. attorney has been charged and agreed to plead guilty in connection with alleged schemes to defraud Massachusetts victims, including two of his own relatives.

    David Smerling, 75, has agreed to plead guilty to a Superseding Information charging him with four counts of wire fraud, two counts of money laundering and one count of aggravated identity theft. Smerling was previously indicted in January 2025 on charges of embezzling from a business partner.  

    “The alleged multi-million-dollar embezzlement that Mr. Smerling was originally charged with was, unfortunately, just the tip of the iceberg. Today’s charges allege that Mr. Smerling also preyed on a family member with special needs and another with dementia, allegedly stealing money these victims needed for their own care,” said United States Attorney Leah B. Foley.

    “For anyone with elderly and vulnerable loved ones, these are frightening allegations,” said Kimberly Milka, Acting Special Agent in Charge of the Federal Bureau of Investigation, Boston Division. “David Smerling allegedly betrayed the trust of his victims and took full advantage – embezzling from them to line his own pockets while trying to cover up his crimes. The FBI will never stop working to protect the public from criminals like this, and we’re gratified to see him brought to justice.”

    According to court filings, between January 2016 and May 2020, Smerling embezzled more than $2.5 million from three Massachusetts companies for whom he worked as a bookkeeper. Specifically, it is alleged that Smerling transferred funds from the victim companies into a separate bank account that he controlled, before moving the money to bank accounts in his own name or directly from the companies’ accounts to bank accounts in his own name. Smerling allegedly concealed his scheme by changing the mailing address on victims’ bank statements to his home address and refusing to share the online banking password for the victims’ accounts.  

    Court filings further allege that, between May 2020 and August 2021, Smerling embezzled more than $470,000 from a trust established for the benefit of a relative with special needs for which Smerling served as the trustee. Smerling allegedly transferred trust funds to bank accounts he controlled before sending the funds to bank accounts in his wife’s name or using the funds to pay for personal expenses. It is alleged that Smerling concealed his scheme by making lulling payments to the beneficiary so he would not discover the trust had been depleted.  

    Court filings also allege that, between May 2023 and April 2025, Smerling embezzled more than $150,000 from a relative with dementia for whom Smerling served as the financial power of attorney. Specifically, Smerling allegedly transferred funds from the victim’s accounts to accounts he controlled, used a credit card in the victim’s name for personal purchases and took out a loan in the victim’s name. To conceal this scheme, Smerling allegedly misrepresented the purpose of the transfers to the financial institutions in which the victim’s accounts were held.  

    The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of up to $250,000 or twice the gross gain or loss, whichever is greater. The charge of money laundering provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of up to $500,000 or twice the value of the property involved in the transaction, whichever is greater. The charge of aggravated identity theft provides for a mandatory sentence of two years in prison to be served consecutive to any sentence imposed on the wire fraud and money laundering charges. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    U.S. Attorney Leah B. Foley and FBI Acting SAC Milka made the announcement today. Assistant U.S. Attorney Kristen A. Kearney of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

    The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

    May 21, 2025
  • MIL-Evening Report: Starvation of Gaza – a distressing continuation of a decades-old plan

    SPECIAL REPORT: By Jeremy Rose

    Reading an NBC News report a couple of days ago about a Trump administration plan to relocate 1 million Gazans to Libya reminded me of a conversation between the legendary Warsaw Ghetto leader Marek Edelman and fellow fighter and survivor Simcha Rotem that took place more than quarter of a century ago.

    In the conversation, first reported in Haaretz in 2023, Rotem said the Jews who walked into the gas chambers without a fight did so only because they were hungry.

    Edelman disagreed, but Rotem insisted. “Listen, man. Marek, I’m surprised by your attitude. They only went because they were hungry. Even if they’d known what awaited them they would have walked into the gas chambers. You and I would have done the same.”

    Edelman cut him off. “You would never have gone” [to the gas chamber.] Rotem replied, “I’m not so sure. I was never that hungry.”

    Edelman agreed, saying: “I also wasn’t that hungry,” to which Rotem said, “That’s why you didn’t go.”

    The NBC report claims that Israeli officials are aware of the plan and talks have been held with the Libyan leadership about taking in 1 million ethnically cleansed Palestinians.. The carrot being offered is the unfreezing of billions of dollars of Libya’s own money seized by the US more than a decade ago.

    The Arabic word Sumud — or steadfastness — is synonymous with the Palestinian people. The idea that 1 million Gazans would agree to walk off the 1.4 percent of historic Palestine that is Gaza is inconceivable.

    Equally incomprehensible
    But then the idea that my great grandmother and other relatives walked into the gas chambers is equally incomprehensible. But we’ve never been that hungry.

    The people of Gaza are. No food has entered Gaza for 76 days. Half a million Gazans are facing starvation and the rest of the population (more than 1.5 million people) are suffering from high levels of acute food insecurity, according to the UN.

    Last year, Israel’s Finance Minister Bezalel Smotrich was widely condemned when he suggested starving Gaza might be “justified and moral”.

    The lack of outrage and urgency being expressed by world leaders — particularly Western leaders — after nearly 11 weeks of Israel actually starving the inhabitants of what retired IDF general Giora Eiland has called a giant concentration camp — is an outrage.

    As far as I’m aware there’s been no talk of cutting off diplomatic relations, trade embargos or even cultural boycotts.

    Israel — which last time I looked wasn’t in Europe — just placed second in Eurovision. “I’m happy,” an Israeli friend messaged me, “that my old genocidal homeland (Austria) won and not my current genocidal nation.”

    A third generation Israeli, she’s one of a tiny minority protesting the war crimes being committed less than 100km from her apartment.

    Honourable exceptions
    Spanish Prime Minister Pedro Sanchez and Irish President Michael Higgins are honourable exceptions to the muted criticism being expressed by Western leaders, although this criticism has finally been stepped up with the threatened “concrete actions” by the UK, France and Canada, and the condemnation of Israel by 22 other countries — including New Zealand.

    Sanchez had declared Israel a genocidal state and said Spain won’t do business with such a nation.

    And peaking at a national famine commemoration held over the weekend Higgens said the UN Security Council had failed again and again by not dealing with famines and the current “forced starvation of the people of Gaza”.

    He cited UN Secretary-General António Guterres saying “as aid dries up, the floodgates of horror have re-opened. Gaza is a killing field — and civilians are in an endless death loop.”

    Nobel Prize winning economist Amartya Sen argued in his 1981 book Poverty and Famines that famines are man-made and not natural disasters.

    Unlike Gaza, the famines he wrote about were caused by either callous disregard by the ruling elites for the populations left to starve or the disastrous results of following the whims of an all-powerful leader like Chairman Mao.

    He argued that a famine had never occurred in a functioning democracy.

    A horrifying fact
    It’s a horrifying fact that a self-described democracy, funded and abetted by the world’s most powerful democracy, has been allowed by the international community to starve two million people with no let-up in its bombing of barely functioning hospitals and killing of more than 2000 Gazans since the ban on food entering the strip was put in place. (Many more will have died due to a lack of medicine, food, and access to clean water.)

    After more than two months of denying any food or medicine to enter Gaza Israel is now saying it will allow limited amounts of food in to avoid a full-scale famine.

    “Due to the need to expand the fighting, we will introduce a basic amount of food to the residents of Gaza to ensure no famine occurs,” Prime Minister Benjamin Netanyahu explained.

    “A famine might jeopardise the continuation of Operation Gideon’s Chariots aimed at eliminating Hamas.”

    If 19-months of indiscriminate bombardment, the razing to the ground of whole cities, the displacement of virtually the entire population, and more than 50,000 recorded deaths (the Lancet estimated the true figure is likely to be four times that) hasn’t destroyed Hamas to Israel’s satisfaction it’s hard to conceive of what will.

    But accepting that that is the real aim of the ongoing genocide would be naïve.

    Shamefully indifferent Western world
    In the first cabinet meeting following the Six Day War, long before Hamas came into existence, ridding Gaza of its Palestinian inhabitants was top of the agenda.

    “If we can evict 300,000 refugees from Gaza to other places . . .  we can annex Gaza without a problem,” Defence Minister Moshe Dayan said.

    The population of Gaza was 400,000 at the time.

    “We should take them to the East Bank [Jordan] by the scruff of their necks and throw them there,” Minister Yosef Sapir said.

    Fifty-eight years later the possible destinations may have changed but the aim remains the same. And a shamefully indifferent Western world combined with a malnourished and desperate population may be paving the way to a mass expulsion.

    If the US, Europe and their allies demanded that Israel stop, the killing would end tomorrow.

    Jeremy Rose is a Wellington-based journalist and his Towards Democracy blog is at Substack.

    MIL OSI Analysis – EveningReport.nz –

    May 21, 2025
  • MIL-OSI: Partners Value Investments L.P. Announces Q1 2025 Interim Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.

    The Partnership recorded net income of $24.6 million for the three months ended March 31, 2025, compared to net income of $26.3 million in the prior year quarter. Net income was in line with the prior year quarter as higher investment income and valuation gains were offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. Income of $22.2 million was attributable to the Equity Limited Partners ($0.32 per Equity LP unit) and income of $2.4 million was attributable to Preferred Limited Partners.

    As at March 31, 2025, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.

    Consolidated Statements of Operations

    (Unaudited)
    For the three months ended March 31
    (Thousands, US dollars)
         
          2025       2024  
    Investment income              
    Dividends     $ 26,559     $ 24,027  
    Other investment income       7,179       4,035  
            33,738       28,062  
    Expenses              
    Operating expenses       (1,352 )     (2,437 )
    Financing costs       (2,417 )     (2,481 )
    Retractable preferred share dividends       (10,041 )     (9,736 )
            (13,810 )     (14,654 )
                   
    Other items              
    Investment valuation gains       7,212       924  
    Amortization of deferred financing costs       (912 )     (884 )
    Foreign currency (losses) gains       (124 )     8,899  
    Current taxes (expense) recovery       (361 )     8,069  
    Deferred taxes expense       (1,102 )     (4,158 )
    Net income     $ 24,641     $ 26,258  

    The information in the following table shows the changes in net book value:

    (Unaudited)
    For the three months ended March 31
    (Thousands, except per unit amounts)
    2025   2024
      Total        Per Unit      Total       Per Unit
    Net book value, beginning of period1 $ 8,375,682     $ 102.80   $ 5,783,620     $ 70.74
    Net income2   22,220             24,714        
    Other comprehensive (loss) income2   (828,447 )           290,050        
    Adjustment for impact of warrants1   (173 )           (6,120 )      
    Equity LP repurchases   (2,438 )           (3,617 )      
    Net book value, end of period3 $ 7,566,844     $ 96.32   $ 6,088,647     $ 74.52
    1. Calculated on a fully diluted basis. Net book value is a non‐IFRS measure used by management to measure the value of an Equity LP unit on a fully diluted basis. It is equal to total equity less General Partner equity, Preferred Limited Partners’ equity, non-controlling interests’ equity plus the value of consideration to be received on exercising of warrants, which as at March 31, 2025, was $114 million (December 31, 2024 – $114 million).
    2. Attributable to Equity Limited Partners.
    3. At the end of the period, the diluted Equity LP units outstanding were 78,560,143 (December 31, 2024 – 81,474,610); this includes 2,702,321
      (December 31, 2024 – 5,640,600) Equity LP units exchangeable on a one-for-one basis with shares of a non-wholly owned subsidiary, and units issued through the exercise of all outstanding warrants; including 585,938 (December 31, 2024 – 585,938) warrants held by partially-owned subsidiaries of the Partnership.

    Financial Profile

    The Partnership’s principal investments are its interest in approximately 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Partnership owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Partnership’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    (Unaudited)
    As at
    (Thousands, US dollars)
        March 31,
    2025
          December 31,
    2024
    Assets              
    Cash and cash equivalents   $ 308,077     $ 156,977
    Accounts receivable and other assets     54,375       48,924
    Investment in Brookfield Corporation1     6,339,885       6,949,656
    Investment in Brookfield Asset Management Ltd.2     1,492,635       1,669,488
    Investment in Brookfield Wealth Solutions Ltd.3     428,584       471,787
    Other investments carried at fair value     346,818       343,090
        $ 8,970,374     $ 9,639,922
    Liabilities and equity              
    Accounts payable and other liabilities   $ 44,194     $ 42,055
    Corporate borrowings     208,094       208,168
    Preferred shares4     1,074,573       939,057
    Deferred tax liability     9,469       7,933
          1,336,330       1,197,213
    Equity              
    Equity Limited Partners     7,452,974       8,261,639
    Preferred Limited Partners     152,040       152,040
    Non-controlling interests     29,030       29,030
          7,634,044       8,442,709
        $ 8,970,374     $ 9,639,922
    1. The investment in Brookfield Corporation (“BN”) consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45).
    2. The investment in Brookfield Asset Management Ltd. (“BAM”) consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19).
    3. Brookfield Wealth Solutions Ltd. (“BWS”) Class A shares are exchangeable into BN Class A shares on a one-for-one basis.
    4. Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025 (December 31, 2024 – $712 million less $9 million) and $236 million of three series of preferred shares (December 31, 2024 – $236 million).

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

    May 21, 2025
  • MIL-OSI: Partners Value Investments Inc. Announces Q1 2025 Interim Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V, PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.

    The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter.

    Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter.

    As at March 31, 2025, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.

    Consolidated Statements of Operations

    (Unaudited)
    For the three months ended March 31
    (Thousands, US dollars)
         
                2025       2024    
    Investment income                      
    Dividends           $ 30,125     $ 26,685    
    Other investment income             7,177       4,035    
                  37,302       30,720    
    Expenses                      
    Operating expenses             (1,131 )     (2,150 )  
    Financing costs             (10,062 )     (8,179 )  
    Retractable preferred share dividends             (8,380 )     (8,240 )  
                  (19,573 )     (18,569 )  
    Other items                      
    Investment valuation gains             7,212       924    
    Retractable share remeasurement gains (losses)             952,569       (213,630 )  
    Warrant liability remeasurement (losses) gains             (3,267 )     9,926    
    Amortization of deferred financing costs             (912 )     (884 )  
    Foreign currency gain             115       12,453    
    Current tax (expense) recovery             (361 )     8,069    
    Deferred tax expense             (1,102 )     (4,158 )  
    Net income (loss)           $ 971,983     $ (175,149 )  
                               

    Financial Profile

    The Company’s principal investments are its interest in 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Company’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    (Unaudited)
    As at
    (Thousands, US dollars)
          March 31,
    2025
          December 31,
    2024
     
    Assets              
    Cash and cash equivalents     $ 308,044     $ 156,952  
    Accounts receivable and other assets       77,882       69,776  
    Investment in Brookfield Corporation 1       6,339,885       6,949,656  
    Investment in Brookfield Asset Management Ltd.2       1,492,635       1,669,488  
    Investment in Brookfield Wealth Solutions Ltd.3       428,460       471,651  
    Other investments carried at fair value       655,069       669,397  
          $ 9,301,975     $ 9,986,920  
    Liabilities and Equity              
    Accounts payable and other liabilities     $ 44,964     $ 42,824  
    Corporate borrowings       208,094       208,168  
    Preferred shares4       838,560       703,044  
    Retractable common shares       6,360,356       7,312,467  
    Exchangeable shares       282,186       —  
    Warrant liability       497,252       494,710  
    Deferred tax liability       9,469       7,933  
            8,240,881       8,769,146  
    Equity              
    Accumulated deficit       (6,130,077 )     (6,821,786 )
    Accumulated other comprehensive income       7,181,112       8,027,580  
    Non-controlling interests       10,059       11,980  
          $ 9,301,975     $ 9,986,920  
                       
    1. The investment in Brookfield Corporation (“BN”) consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45).
    2. The investment in Brookfield Asset Management Ltd. (“BAM”) consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19).
    3. Brookfield Wealth Solutions Ltd. (“BWS”) Class A shares are exchangeable into BN Class A shares on a one-for-one basis.
    4. Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025
      (December 31, 2024 – $712 million less $9 million).

    For further information, contact Investor Relations at ir@pvii.ca.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

    The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

    May 21, 2025
  • MIL-OSI Russia: Kingdom of the Netherlands–The Netherlands: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    May 20, 2025

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

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

    An IMF team, led by Mr. Fabian Bornhorst, visited the Netherlands during May 7–20 to conduct the 2025 Article IV consultation. The following statement was issued at the end of the visit:

    The Dutch economy is among the most developed countries globally and has drawn strength from integration in global value chains. In recent years, it has weathered shocks well, yet its resilience is being tested, again—this time by trade tensions and geoeconomic fragmentation. Fiscal buffers are ample, and the financial system is well-positioned to absorb shocks. At the same time, the economy is operating at capacity and inflation is elevated. And increasingly binding constraints—in the labor market, housing, emissions space, and the electricity grid—are limiting the ability to grow and adapt. Futureproofing the economy will therefore require policies that both tackle bottlenecks and expand supply capacity, and align with a long-term vision for sustainable growth. Reforms, complementary to EU initiatives, should aim to increase labor input and firm productivity, expand the availability of SME financing, and effectively manage the green and demographic transitions.

    Outlook

    1. After a weak start, domestic demand is projected to drive growth in 2025 even as trade tensions affect momentum. Real GDP growth is projected to reach 1.1 percent this year. Fundamentals remain strong: unemployment is low, wage growth is robust, and real household purchasing power is solid—supporting private consumption. However, tariffs, trade tensions, and lower trading partner growth are expected to dampen external demand. Combined with uncertainty over future trade policies and less favorable financial conditions, these factors hold back investment and weaken consumer confidence. With a cooling economy, the small positive output gap is expected to close next year; medium-term growth will converge to its estimated potential of 1.2 percent.
    2. Elevated inflation is projected to decline gradually and reach the 2 percent target in late 2026. Inflation is projected at 3 percent in 2025. Wage growth has been robust, although real wages have not reached pre-pandemic levels. Going forward, wage growth is projected to moderate as indicated by recent collective wage agreements and early signs of easing labor market tightness. Fiscal measures, on net, will contribute positively to inflation in 2025 and 2026, as the roll-back of some reduced VAT rates and the increase in excise rates are partly offset by energy subsidies and the freeze on social housing rents. As the trade shock reverberates through the global economy, deflationary forces are expected to arise from lower global growth and energy prices, and appreciation of the euro.

    Risks

    1. Downside risks to growth dominate and arise mainly from trade tensions. Possible direct effects from new/higher U.S. tariffs on currently exempt items (e.g., pharmaceuticals) would lower exports. More generally, rising geoeconomic fragmentation and stronger-than-expected indirect effects from global trade disruptions pose downside risks to growth. The disruption to supply chains could be more severe than expected, leading to upward price pressures even in the context of subdued growth. Policy makers should stay vigilant and nimble. Barring more extreme scenarios, automatic stabilizers in the fiscal framework are sufficient to weather shocks. Domestically, uncertainties in economic policy and the extent to which growth bottlenecks are binding represent risks to the outlook. These can be addressed by implementing consistent, forward-looking, and confidence-building measures.

    Fiscal Policy

    1. Fiscal policy is geared to supporting households in the near term, while aiming to keep the deficit below 3 percent of GDP by 2030. In view of many, and competing, demands, it is welcome that revised plans in the Spring Memorandum adhere to the trend-based fiscal policy (the Dutch Medium-Term Fiscal Framework) and are in line with national fiscal rules. Key measures in 2025 to support household purchasing power include income tax relief, extending reduced fuel excise duties, energy subsidies, and rent support. To meet the deficit target by 2030, spending cuts in public administration, international cooperation, education, and asylum are proposed. The plans, however, are more backloaded than before, and, in many cases, specific measures have yet to be formulated.
    2. Pivoting fiscal policy from stimulating demand to expanding supply would help the economy grow and adapt. Fiscal policy is set to provide an impulse of around 1 percent of GDP in 2025-26. As household real incomes now exceed pre-pandemic levels and the economy is operating at capacity with elevated inflation, broad fiscal support is no longer needed. Scaling back demand support is timely and advisable. While underspending and revenue overperformance could deliver a neutral fiscal stance—as in 2024—proactively identifying and implementing measures would allow for steering the adjustment. To boost the supply capacity of the economy, the government should invest in infrastructure, education, and R&D, foster investment to increase the housing supply and productivity, implement growth-enhancing tax reforms, and tackle bottlenecks from nitrogen and electricity grid congestion. Fostering private and increasing public investment will also contribute to reducing the high external current account surplus.
    3. Better aligning policies with long-term goals would improve the effectiveness of fiscal policy. For example, while freezing social rents provides immediate support to some households, it weakens the financial health of housing associations and limits investment to expand and upgrade the housing stock—key to addressing shortages. Extending the reduction of fuel excises disincentivizes the clean energy transition, countering efforts to reduce implicit fuel subsidies and foster EV adoption through subsidies. Limited inflation adjustment of income tax brackets—including to finance reduced VAT rates—offsets previous income tax relief, disproportionately affects poorer households, and disincentivizes labor supply. Education and R&D spending cuts are at odds with fostering high levels of human capital and innovation. In this context, the announced tax and benefits system reform is welcome, offering an opportunity to simplify and align policies.
    4. Tackling medium-term spending pressures through structural fiscal reforms will increase fiscal room to maneuver. With a low debt-to-GDP ratio of 43.4 percent, the fiscal position is strong. Moreover, deficits and debt are projected to remain structurally below 3 and 60 percent of GDP through 2030. However, projections also indicate that, by 2050, spending on health, ageing, and climate change will increase by about 4 percent of GDP. Ambitions to scale up defense spending beyond 2 percent of GDP adds to these pressures. Addressing cost drivers early would free fiscal room to maneuver, including: (i) reversing the reduction of health deductibles, increasing health care co-payments, and adjusting the basic policy package while supporting solidarity; (ii) linking the retirement age one-to-one to greater life expectancy for tax-funded old-age pensions; and (iii) moving away from fuel subsidies to revenue-generating carbon pricing and taxation.
    5. Implementing the planned tax reforms would support growth. The Building Blocks Tax report rightly recommends streamlining inefficient and ineffective tax expenditures, including abolishing reduced VAT rates. This would lower compliance costs, broaden the tax base, and may open the door to a lower tax rate. Speedy implementation of the proposed capital income taxation reform (‘Box 3’) would align investment incentives by taxing capital income more consistently. and encouraging better resource allocation. Together, the reforms will foster higher investment, productivity, and growth.

    Financial Sector Policies

    1. Risks to financial stability are elevated and have risen, warranting continued close monitoring. Trade policy tensions and uncertainty have increased financial market volatility and weighed on investor confidence in recent months. More volatility in asset prices could trigger periodic margin calls, particularly on pension funds’ derivatives. Elevated inflation still poses non-negligible risks for insurers. While household and corporate indebtedness is declining, it remains well above the euro area average. In real estate, developments in the commercial sector signal reduced risks. However, the residential market shows renewed signs of overheating. Nominal and real house prices, as well as sales, have picked up again, and housing valuations remain among the highest in Europe.
    2. Even so, the financial sector remains resilient to shocks as buffers are ample and commensurate to risks, and the macroprudential policy stance is broadly appropriate. Banking, insurance, and pension fund (PF) fundamentals remain sound. Banks are well capitalized and liquid. Bank profits remain robust and loan delinquencies low, despite a pick-up in corporate bankruptcies, which reflects normalization following phasing out of pandemic support. The countercyclical capital buffer has been maintained at the 2 percent positive neutral rate since May 2024. Other buffers for the largest banks remain in a 0.25‑2 percent CET1-to-risk-weighted-assets ratio range. The insurance sector is profitable and solvent. Funding ratios of occupational PFs have declined as interest rates fell but are rebounding ahead of the system’s transition to defined-contribution schemes and stood comfortably at 120 percent, on average, at end-2025Q1. PFs are resilient to liquidity risks in adverse stress scenarios and can raise cash at short notice if needed from repo or other money markets to meet margin calls on interest derivatives.
    3. Addressing access to homeownership through policies that increase housing supply would allow recalibrating borrower-based macroprudential measures towards minimizing financial risks. Housing market risks continue to be mitigated by structural factors including rising real disposable incomes, the large share of fixed-rate mortgages, and full legal recourse in case of default. The maximum LTV limit was lowered to 100 percent in 2018. Eligibility for, and duration of the mortgage interest deductibility were tightened, and the maximum rate reduced. Mortgage risks are further mitigated by the recent extension of risk-weight floors until November 2026. Efforts to ensure a clear legal basis for supervisory authorities’ regular access to granular transaction and loan-level data for risk monitoring and analysis—to identify pockets of vulnerability as they emerge—should continue. Still, as recommended in the 2024 IMF Financial Stability Assessment Program (FSAP) report, to cool the housing market, maximum LTV limits should be progressively lowered even more, to 90 percent, mortgage interest deductibility gradually removed, and borrowers further incentivized to lower exposures to interest-only mortgages. A significant increase in housing supply is needed to boost housing affordability, facilitate broad access to the property ladder, and to reduce banking and insurance risks from residential mortgage exposures. This will require reconsideration of the roles of housing associations and private investors, revisiting rent controls, revising land-use policies and streamlining building regulations.
    4. The pension reform will strengthen PFs financial sustainability, and offers an opportunity to improve intergenerational fairness, and rebalance portfolios. Most defined-benefit schemes (DBs) have faced financial pressure since 2008. Many have struggled to index benefits in the low-interest-rate environment, and some were forced to cut benefits. Also, DBs asset allocations do not reflect age-related risk preferences. This has raised concerns about intergenerational fairness. Together, these factors weakened confidence in the system. The transition to defined-contribution schemes will alleviate pressures from ageing on PFs sustainability. It will also allow for portfolio allocations that better align with risk preferences of age cohorts, including more investments in equity, while maintaining a high degree of solidarity and collective risk-sharing. Notably, about 80 percent of plans are expected to combine individual investment accounts with collective investments that bundle assets and distribute returns across individual accounts.

    Addressing Growth Bottlenecks

    1. A legally-robust and future-oriented nitrogen strategy is urgently needed. Developers now face permit uncertainty, investors lack confidence, and farmers remain in limbo, as environmental targets slip further out of reach. Recognizing the urgency, the government is developing a strategy that includes shifting from deposition to direct emission measurement and extending the timeline to halve emissions by 5 years. More details on possible measures are paramount. Economic considerations suggest that fees on emitters are the most cost-effective and efficient way to reduce emissions. To avoid tax increases for the average farmer, a system of feebates—where emissions-intensive farming pays fees that fund rebates for lower emission practices—offers a balanced approach. Socially-acceptable solutions and emission reductions have been achieved through a combination of taxation, regulation, subsidies, and science-based guidance.
    2. Plans to relieve electricity grid bottlenecks and ready the grid for the green transition should be accelerated and paired with dynamic pricing. The government’s strategy focuses on expediting high-voltage grid extensions and streamlining permitting. There are plans to guarantee debt issuance by the grid operator of about 4.4 percent of GDP to facilitate grid expansion. However, in the meantime, connection wait-times remain too long. Efforts to manage grid pressures should also include increasing storage capacity and incentivizing energy efficiency of households and industry, while helping the energy-poor adapt. To better manage demand, energy savings could be further incentivized by promoting greater use of dynamic metering and pricing. These are effective in shifting consumption to off-peak periods, help consumers save money, and reduce the need for extra capacity to meet peak demand.

    Strengthening Labor and Firm Productivity

    1. Labor market reforms should continue to focus on enhancing human capital. Given the aging population and labor shortages, it is critical to fully utilize the potential of workers across all generations and smaller firms. Reforms should improve educational outcomes and vocational training to address skill shortages and enhance lifelong learning. Recent progress to address labor market duality, such as reducing false self-employment, are welcome. Introducing mandatory disability insurance and strengthening pension arrangements for the self-employed are important measures to be implemented.. Additionally, better integration of workers with a migratory background would be facilitated by stepped-up language training, job search support, and recognition of qualifications acquired abroad.
    2. Policies to support firm productivity should address several key areas. First, business dynamism should be promoted by reducing entry/exit barriers to enhance firm-level allocative efficiency. Second, productivity-enhancing investment should be increased by improving the investment climate and addressing growth bottlenecks, advancing digitalization, and encouraging R&D. Third, productivity spillovers should be fostered by investments with large spillover effects (e.g., research parks and networks) to build connections among firms, research institutions, and regions. Fourth, efforts are needed to support firms to grow from start-ups to scale-ups and beyond. Plans to equalize tax treatment of stock options for small firms are welcome and should be expanded to include eliminating the reduced profit tax rate for SMEs as well as providing a menu of financing options along a firm’s development stages.  

    Domestic Capital Market Reforms

    1. Capital market reforms would help expand SME financing by improving valuations, stimulating investor demand for both equity and debt instruments, and simplifying debt issuances.  
    • Improving valuations—thereby increasing the amount of capital firms can raise when they issue stocks or bonds—will require increasing the size and liquidity of secondary markets. This should be combined with measures to narrow information gaps, such as easing investor benchmarking, to help reduce investor risk, and with reforming the Bankruptcy Act and securities laws to help investors shorten the settlement cycle for transferable securities and reallocate capital from failed startups more quickly. The authorities should also continue to push forward EU-level reforms, as integration into a larger, EU-wide capital market would also improve liquidity, and hence valuations.
    • Increasing PFs’ and insurers’ investments in domestic venture capital and other equity funds would also increase equity market size and raise valuations. The pension reform offers such an opportunity. Higher pension investment, including from abroad, in domestic equity may also be supported at the EU level by revised legal and supervisory requirements for pan-European private pension products that allow for more venture capital investment.
    • Standardizing and simplifying procedures for smaller-denomination corporate debt securities issuance, lowering the minimum denomination, making pricing more transparent, and leveraging online platforms and other dealer markets would help increase retail investor participation and make more debt capital available to firms.

    Managing the Green Transition

    1. To meet national and European climate goals, stronger policies will be needed, including to reduce uncertainty and build public support.  The current policy settings are projected to fall short of the 2030 goals. Clear and consistent policies are required to provide investment certainty for the private sector. The EU climate agenda—including introduction of CBAM and phasing out of free ETS allowances and expansion of ETS coverage—will facilitate progress. These measures may impact purchasing power. Lower-income households may struggle to adapt even though the burdens of ETS reforms across different income groups are estimated to be uniform relative to consumption. To manage these challenges, implementing compensatory funds and other targeted fiscal tools can help balance policy trade-offs and enhance public support.
    2. Recalibrating transport policies can prevent a decline in fiscal revenues and address congestion, while meeting climate targets and managing electricity demand. By 2035, revenue from transport is projected to decline by 0.5 percent of GDP, while electricity demand could rise by 20 percent with electrification of the vehicle fleet. These challenges would be best addressed with congestion pricing in urban areas and distance-based charges.

    Supporting EU Reforms

    1. The authorities should continue to push for rapid implementation of EU-wide reforms, including as the Netherlands stands to gain from these initiatives. With its mature markets, enhancing EU-wide competition by cutting intra-EU trade barriers would complement national efforts to boost business dynamism and productivity. EU-level actions to foster intra-EU labor mobility—recognition of professional qualifications, pension portability—are complementary to addressing labor and skill shortages at home. A European Savings and Investment Union (SIU) would broaden investment opportunities for Dutch savers and allow Dutch firms to more easily tap a wider pool of European savings. Finally, completing the EU energy market would ensure better connectivity and energy security, lower prices, and also lower investment needs to match increasing demand.

    *   *   *   *   *

    The IMF team thanks the authorities and other counterparts for the constructive policy dialogue and productive collaboration.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva-Maria Graf

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/05/19/mcs-05192025-kingdom-of-the-netherlands-staff-concluding-statement-of-2025-art-iv-mission

    MIL OSI

    MIL OSI Russia News –

    May 21, 2025
  • MIL-OSI: Sizzle Acquisition Corp. II Announces the Separate Trading of its Class A Ordinary Shares and Rights, Commencing May 23, 2025

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, May 20, 2025 (GLOBE NEWSWIRE) — Sizzle Acquisition Corp. II (Nasdaq: SZZLU) (the “Company”) announced today that, commencing May 23, 2025, holders of the units sold in the Company’s initial public offering may elect to separately trade the Company’s Class A ordinary shares and rights included in the units. The Class A ordinary shares and rights that are separated will trade on the Nasdaq Global Market under the symbols “SZZL” and “SZZLR,” respectively. Those units not separated will continue to trade on the Nasdaq Global Market under the symbol “SZZLU.”

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Sizzle Acquisition Corp. II

    Sizzle Acquisition Corp. II is a special purpose acquisition company incorporated under the laws of Cayman Islands for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but will focus on the industries of restaurant, hospitality, food and beverage, retail, consumer, food and food related technology, real estate industries such as “proptech”, mining, professional sports teams, airlines and technology, including sectors that service or are connected to these industries in the United States and other developed countries. The Company intends to pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

    Forward-Looking Statements

    This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC and in all other filings made by the Company with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact

    Sizzle Acquisition Corp. II

    Sheena Lajoie

    sl@sizzlespac.com

    The MIL Network –

    May 21, 2025
  • MIL-OSI United Kingdom: Record 81 criminal investigations launched into water companies under Government crackdown

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Record 81 criminal investigations launched into water companies under Government crackdown

    New crackdown is the largest criminal action against water companies in history.

    A record 81 criminal investigations into water companies have been launched in England since the election, as part of the Government’s crackdown on sewage dumping.  

    A new operation spearheaded by Environment Secretary Steve Reed amounts to the largest criminal action against water companies in history. 

    The number of inspections carried out by authorities into sewage pollution has skyrocketed by nearly 400% since last July.  

    The record number of Environment Agency spot checks at water company premises and rivers has revealed widespread law-breaking. Over 80 criminal investigations have been launched against water companies over the last nine months, a surge of 145% since the election.   

    Following these investigations, water bosses could be jailed for five years and water companies fined hundreds of millions of pounds.

    This will act as a powerful deterrent, focussing water bosses’ minds on investing to upgrade water infrastructure to clean up our rivers, lakes and seas. Water companies will also spend a record £104 billion and cut sewage discharges by nearly half over five years.  

    Environment Secretary Steve Reed:  

    Water companies have too often gone unpunished as they pump record levels of sewage into our waterways. No more.   

    A record number of criminal investigations have been launched into law-breaking water companies – which could see bosses behind bars.   

    With this Government, water companies who break the law will finally be punished for their disgraceful behaviour so we can clean up our rivers, lakes and seas for good.  

    Philip Duffy, Chief Executive of the Environment Agency said:   

    This milestone is testament to our determination to hold water companies to account and achieve a cleaner water environment.  

    Our message to the industry is clear: we expect full compliance throughout the water system, and we will not hesitate to take robust enforcement action where we identify serious breaches. 

    This is just the beginning – we are on track to deliver 10,000 inspections next year, using our tougher powers gained through the Water (Special Measures) Act alongside more officers and upgraded digital tools to drive better performance across the water sector.  

    When a water company breaks the rules of its environmental permit, that is a criminal offence—for example, releasing excessive pollution into a river or failing to carry out water quality monitoring.  

    The Environment Agency follows up on every offence they find. The most serious offences, like illegal sewage spills, trigger a criminal investigation that could see water company fines and criminal prosecution for water bosses. The Environment Agency have also taken a zero-tolerance approach to identify and resolve over 1000 minor issues last year like unclogging pipes to deliver immediate improvements to local communities and the environment.  

    To drive forward this surge in action, the Environment Agency has hired 380 additional regulatory staff to carry out inspections and other enforcement activity.   

    New powers, delivered by the Government’s landmark Water (Special Measures) Act 2025, also mean water executives who cover up or hide illegal sewage spills can now be locked up for up to two years.  

    The Environment Agency are also currently carrying out their largest ever criminal investigation into potential widespread non-compliance by water companies at over 2000 sewage treatment works.  

    Seven cases against water companies are going to court over the next few months following criminal investigations by the Environment Agency.

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    Published 20 May 2025

    MIL OSI United Kingdom –

    May 21, 2025
  • MIL-OSI USA: CFTC Adopts Enforcement Procedure on Registered Swap Entities Using Substituted Compliance

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Market Participants Division and Division of Enforcement today released procedures regarding CFTC-registered non-U.S. swap dealers or major swap participants (“Swap Entities”) relying on substituted compliance. 
    The procedures establish how the Divisions will address potential non-compliance with foreign law that has been found by the CFTC to be comparable in outcome to the Commodity Exchange Act or CFTC regulations pursuant to a substituted compliance order. 
    Generally, the procedures require CFTC staff to adhere to principles of international comity and deference to the foreign regulator, including that the foreign regulator interprets and applies the home country regulation (not the CFTC), and that MPD and DOE will not pursue an inquiry if the foreign regulator determines that the non-U.S. Swap Entity is in compliance with foreign comparable standards, or the foreign regulator is addressing the non-compliance issue through its supervisory process.
    Any inquiry involving substituted compliance will be handled by MPD, unless MPD determines that a supervision or non-compliance issue is material and makes a referral to DOE pursuant to CFTC Staff Letter 25-13.
    The procedures were developed following a request, submitted jointly by IIB, ISDA, and SIFMA, for guidance regarding the CFTC’s referral process for substituted compliance.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: Ernst Names Small Business of the Week, The Quilted Forest

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    RED OAK, Iowa – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business Committee, today announced her Small Business of the Week: The Quilted Forest of Winnebago County. Throughout the 119th Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties.
    “Since 1998, The Quilted Forest has woven creativity into the fabric of Forest City, celebrating a vibrant community of quilters,” said Chair Ernst. “From their in-person store on Main Street to their strong digital presence, the Robsons and their team have patched together a welcoming space that inspires folks to carry on the cherished tradition of quilting.”
    In 1998, Shelley and Dan Robson opened The Quilted Forest in Forest City, Iowa to create a one-stop shop for quilting kits, fabrics, and patterns. In 2004, Shelley launched Pieced Tree Patterns, a pattern design company that today sells custom quilt patterns both in store and nationwide. In 2021, Shelley started a YouTube channel, growing it to over 120,000 subscribers. On the channel, Shelley shared that she is creating a series of state quilt blocks to celebrate the United States’ 250th birthday next year. This past March, The Quilted Forest celebrated its 28th anniversary.
    Stay tuned as Chair Ernst recognizes more Iowa small businesses across the state with her Small Business of the Week award.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: Ernst Announces Third Annual Entrepreneur Expo in Ames

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    Published: May 20, 2025

    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), chair of the Senate Committee on Small Business and Entrepreneurship, announced that she will host her third annual Entrepreneur Expo at Iowa State University on Tuesday, August 12.
    The event gives unprecedented access to opportunities across the federal marketplace with valuable networking opportunities and hands-on instruction on how Iowa small businesses can sell to America’s largest consumer – the federal government.

    Watch Senator Ernst’s remarks here.
    “This year’s expo theme is ‘Made in America,’ because innovation comes from the heartland and these opportunities should not be limited to Washington,” said Chair Ernst. “I’m honored to connect Iowa’s entrepreneurs and job creators and provide them with the ins and outs of federal opportunities.”
    Ernst’s Entrepreneur Expo will provide an opportunity to hear about how to engage in the federal marketplace, work with federal innovation-focused programs, and learn about federal manufacturing initiatives.
    Background:
    Last year, 40 federal agency departments and state entities came to Ernst’s Expo to connect with small business programs and help them unlock opportunities in federal contracting and innovation programs.
    Hundreds of Iowans attended Ernst’s 2023 Expo, which featured 31 federal agency departments and state entities.

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI USA: Kaptur, Khanna, Luna, And Biggs Introduce Bill To Codify Trump’s Executive Order To Lower Prescription Drug Costs

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Washington, DC — Representatives Marcy Kaptur (OH-09), Ro Khanna (CA-17), Anna Paulina Luna (FL-13), and Andy Biggs (AZ-05) introduced the bipartisan Global Fairness in Drug Pricing Act to codify the core provisions of President Trump’s Executive Order into law — ensuring lasting, enforceable reform that permanently delivers lower prices to Americans. 

    Americans pay the highest prescription drug prices in the world — in some cases, up to ten times more than patients in other comparably developed nations for the same exact medications. President Trump’s executive order, while a step forward, could be tied up in the courts and delayed indefinitely without action from Congress. 

    “It’s time to stand up to drug companies who are more worried about bolstering profits for their Wall Street investors, than making sure people can afford life-saving medication. The predatory pricing practices of giant, largely faceless, pharmaceutical corporations causes undue burden on Americans just trying their best just to get by,” said Congresswoman Marcy Kaptur (OH-09). “There is no reason my constituents should pay more for their medicine than our Canadian neighbors 59 miles away across our northern border. Our effort to guarantee lowest possible pricing will benefit the well-being of tens of millions of Americans. I’m grateful to Congressman Khanna, Congresswoman Luna, and Congressman Biggs for helping lead this bipartisan effort for the American people who need all the help they can get in lowering their prescription drug costs.”

    “Americans are getting ripped off. It’s deeply unfair that we’re paying significantly more for the same prescription drugs than people in other countries,” said Congressman Ro Khanna (CA-17). “Pharmaceutical companies are raking in Billions while patients are rationing their medications or going into crushing debt to get the prescriptions they need. There is bipartisan outrage, and Congress must come together to act. I’m proud to introduce this bipartisan bill with Reps. Luna, Kaptur, and Biggs to lower prices for Americans.” 

    “For decades, Big Pharma has lined its pockets by ripping off American consumers. Their extraordinarily profitable racket overcharged desperate Americans for life-saving medicine, while charging foreign consumers more reasonable prices,” said Congresswoman Anna Paulina Luna FL-13). “I’m proud to reach across the aisle to codify President Trump’s executive order, which put an end to this disgusting practice. Congress must make sure that pharmaceutical companies are never allowed to extort the sick and needy again.”

    The Global Fairness in Drug Pricing Act legislation would:

    1. Direct HHS to propose rulemaking that imposes most-favored-nation price targets, aligning U.S. drug prices with those in peer countries;
    2. Authorize the FDA to consistently grant importation waivers for prescription drugs from countries with strong safety records and lower costs;
    3. Empower the FTC and DOJ to investigate and act on anti-competitive practices in the pharmaceutical industry using existing antitrust laws;
    4. Facilitate direct-to-consumer access to low-cost drugs at international benchmark prices;
    5. Require the Department of Commerce and USTR to assess policies that force Americans to subsidize global R&D or suppress fair pricing abroad.

    # # #

    MIL OSI USA News –

    May 21, 2025
  • MIL-OSI: Columbia Graduate School of Business in Conjunction With Gabelli Funds Selects Jennifer A. Wallace 2025 Recipient of Graham & Dodd, Murray, Greenwald Prize

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., May 20, 2025 (GLOBE NEWSWIRE) — Gabelli Funds announces Jennifer A. Wallace as the 2025 recipient of the Graham & Dodd, Murray, Greenwald Prize for Value Investing. She was presented with the Prize at the firm’s fortieth client conference on Friday, May 16th in New York.  

    In announcing Jennifer Wallace as the 2025 recipient, Tano Santos, the Academic Director of the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School stated, “Jennifer’s entire career has been devoted to elevating the field of value investing, from her early days working alongside Robert Bruce, to launching Summit Street Capital. Her focus has been consistently on evaluating companies through a value investor lens.”

    In 2009, she launched Summit Street Capital which employs a deep value investment approach using a concentrated portfolio of high-quality companies with strong balance sheets purchased at bargain prices.   Jenny earned a BA from Columbia College and an MBA from Columbia Business School where she received Beta Gamma Sigma honors

    In 2005, Gabelli created the annual prize to honor an individual, student, or practitioner who has made an outstanding contribution to enlarge the field of value investing. Known as the “Gabelli Prize”, the company funded the prize with $1 million and presents the award at its annual client meetings.

    GAMCO Investors, Inc. (OTCQX: GAMI), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC) and is known for its Private Market Value with a Catalyst™ style of investment.

    Contact:
    Douglas R. Jamieson
    President & Chief Operating Officer
    (914) 921-5020

    The MIL Network –

    May 21, 2025
  • MIL-Evening Report: The public service has a much smaller gender pay gap than the private sector. It’s a big achievement

    Source: The Conversation (Au and NZ) – By Leonora Risse, Associate Professor in Economics, University of Canberra

    NDAB Creativity/Shutterstock

    After two years of publishing the gender pay gaps of Australia’s private-sector companies, the Workplace Gender Equality Agency has released public-sector employer data for the first time.

    The report shows a stark contrast between the private and public sectors. The Commonwealth public sector has a gender pay gap of 6.4%, far less than the equivalent gap of 21.1% in the private sector.

    The agency attributes a big part of the “substantially better” outcome in the public sector to the achievement of gender balance at managerial and board levels.

    Women’s representation in senior and governance roles doesn’t just narrow the pay gap at the top. It can also change workplace cultures and embed more gender-equitable practices that ripple through to all occupational levels.

    The agency says public-sector employers have achieved this outcome by “long-term and deliberate actions that address gender equality”. These include conducting a gender pay gap analysis and formulating a gender-equality strategy.

    The public sector’s results also illustrate the power of setting targets. The Australian government has set – and now achieved – targets for women to hold 50% of all Australian government board positions.

    Who’s performing well?

    Of the 120 public-sector employers in the Workplace Gender Equality Agency’s dataset, 55 have a gender pay gap that falls into the target range of between –5% and +5%.

    Several have a gender pay gap in total remuneration at or very close to zero. These include the Department of the Prime Minister and Cabinet, Department of Treasury, Department of Social Services and the Office of the Fair Work Ombudsman.

    A handful have a slight positive gender pay gap in favour of women, including the Productivity Commission.

    Where is there room for improvement?

    To support greater transparency, the Workplace Gender Equality Agency has published a searchable database of Commonwealth public sector employers. This is broken down by each department and agency.

    The largest gender gaps in median total remuneration are reported by the National Offshore Petroleum Safety and Environmental Management Authority (50.4%) and Coal Mining Industry Corporation (31.7%).

    Closer to the middle of the pack, the Australian Federal Police reports a gender pay gap of 12.2%. The Reserve Bank of Australia has a gap of 11.5%, and Australia Post 8.6%.

    The data does not include elected officials such as members of parliament.

    All up, half of Commonwealth public-sector employers have a gender pay gap larger than 5%, which the agency deems the acceptable maximum.

    But this is still a better performance than in the private sector, where 60% of companies exceeded the 5% threshold.




    Read more:
    Women’s annual salaries are narrowing the gap. But men still out-earn women by an average $547 a week


    How much less are women earning?

    Women working in Australia’s public sector earn on average A$8,200 less per year than their male colleagues.

    The data cover both the Australian Public Service (APS) (which is directly responsible for the delivery of government services) and non-APS organisations (which deliver services on behalf of the government).

    Within the APS workforce, men’s average total remuneration of $128,503 compares to women’s $121,146. This equates to a 5.7% gap.

    In public-sector agencies outside the APS, this gender pay gap widens to 8.8%. Men’s average salary of $127,354 compares to women’s $116,157.




    Read more:
    Women’s annual salaries are narrowing the gap. But men still out-earn women by an average $547 a week


    In agencies outside the APS, more of this gender gap – 5.6 percentage points – is due to men being paid more in bonuses, overtime and superannuation. Within the APS, these above-base payments contribute only 1.1 percentage points to the overall gap.

    The role of discretionary above-base payments in widening the gap in total remuneration is similar to the dynamics of the private sector, where there is also greater scope for individual negotiation.

    Research shows negotiation practices are laced with gender biases.

    Public sector employers have taken action after conducting gender pay gap analysis.
    Tint Media/Shutterstock

    More standardised recruitment, promotion and wage-setting practices in the public sector, compared with private companies, mean there’s less scope for personal subjectivity and implicit biases in hiring, promotion and salary decisions.

    Turning data into action

    This is the first year the Commonwealth public sector’s performance on gender equality has been published at employer level. It follows changes to legislation in 2022 requiring public sector employers to report their gender equality indicators to WGEA from 2023, similar to the obligations of large private companies.

    The point of publishing gender pay gaps is to spark awareness and motivate employer action.

    Three in four public sector employers report they have taken action after conducting a gender pay gap analysis. Of these actions, one in four employers have corrected instances of unequal pay.

    With a heightened awareness of the benefits of flexible work, almost all public-sector employers (96%) reported “flexible working is promoted throughout the organisation”.

    But there is scope to improve the practical implementation of flexible work policies.

    Only 56% of public-sector employers offer an online option for all team meetings. Only 43% provide support to managers to ensure performance evaluations are not unfairly biased against staff who work remotely or hybrid. And only 5% report that management positions can be designed as part-time.

    With this greater transparency, there will be opportunity to monitor changes in future to look for ongoing improvements in gender-equality practices and outcomes.

    It’s in the interests of fostering a more equitable, productive and effective public sector for all.




    Read more:
    Working from home is producing economic benefits return-to-office rules would quash


    Leonora Risse receives research funding from the Trawalla Foundation and the Women’s Leadership Institute Australia. She has previously undertaken commissioned research for the Workplace Gender Equality Agency. She is a member of the Economic Society of Australia and the Women in Economics Network. She serves as an Expert Panel Member on gender pay equity for the Fair Work Commission.

    – ref. The public service has a much smaller gender pay gap than the private sector. It’s a big achievement – https://theconversation.com/the-public-service-has-a-much-smaller-gender-pay-gap-than-the-private-sector-its-a-big-achievement-256810

    MIL OSI Analysis – EveningReport.nz –

    May 21, 2025
  • MIL-OSI: Helium Evolution Announces Filing of First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 20, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three months ended March 31, 2025 (the “Q1 Report”).

    Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.

    Three Months Ended March 31, 2025 Highlights

        Three months ended
    Tabular amounts in thousands of
    Canadian Dollars, except share and per share amounts
        March 31,
    2025
      March 31,
    2024
     
    Financial            
    Net loss     675   239  
    Net loss per share, basic and diluted     0.01   0.00  
    Cash     3,004   5,304  
    Working capital     1,966   4,992  
    Total assets     11,683   11,293  
    Total liabilities     1,500   872  
    Weighted average shares outstanding            
    Basic and diluted1     97,129,085   96,033,974  
     1The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
     

    During the first quarter of 2025, HEVI maintained its focus on disciplined operational execution, closing the quarter with $2.0 million in working capital and a strong cash position. Subsequent to quarter-end, the Company completed or announced equity financings totaling approximately $3.4 million, further strengthening its balance sheet and supporting planned development and drilling initiatives for the remainder of 2025.

    Operationally, the Company drilled four wells in the Mankota area during the first quarter of 2025, in partnership with North American Helium Inc. (“NAH”), two of which discovered helium. To date, HEVI and NAH have successfully drilled six helium discovery wells, further substantiating the potential of the region. 

    Building upon this momentum, HEVI and NAH, are progressing with additional development plans in the Mankota area. Notably, NAH has secured a license for a facility (the “Soda Lake Facility”) to tie-in the 9-35 well, the 10-1 well and the 10-36 well in the northern part of the discovery, as shown on the map above. The Soda Lake Facility is expected to be operational in the fourth quarter of 2025, marking a significant milestone for HEVI with its first helium sales volumes. Additional drilling is planned for the second half of 2025 to advance the project further. 

    Stay Connected to Helium Evolution

    Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.    

    About Helium Evolution Incorporated

    Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

    For further information, please contact:

    Statement Regarding Forward-Looking Information

    This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

    Forward-looking statements in this document include statements regarding the Company’s expectations regarding the Soda Lake Facility including timing, tie-in of wells to the Soda Lake Facility, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans to drill more wells, completion of the financing as announced, the Company becoming a leading supplier of sustainably-produced helium, the Company’s belief regarding becoming a key player in the North American helium industry, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including future drilling; the Company and/or NAH may determine not to bring the helium wells onto production; the Company and/or NAH may abandon, defer or accelerate plans and decisions regarding the Soda Lake Facility; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; the financings may not close as anticipated or at all; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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

    An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ade519ed-7912-4ca5-8b3b-1edfd33a0e89

    The MIL Network –

    May 21, 2025
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