Category: China

  • MIL-OSI USA: ICYMI—Hagerty Joins Kudlow on Fox Business to Discuss Russia-Ukraine War, Tariff Negotiations

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    NASHVILLE, TN—United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, today joined Kudlow on Fox Business to discuss the ongoing negotiations to bring a peace deal to the Russia-Ukraine war, along with President Donald Trump’s strength in tariff negotiations with China.

    *Click the photo above or here to watch*
    Partial Transcript
    Hagerty on Trump’s toughness against Russia: “President Trump has continued not only to retain sanctions in place, but actually enforced them, which the Biden Administration never did. The Biden Administration talked tough, but they did not enforce sanctions. What President Trump has done is actually gone into secondary sanctions. I think you read about the fact that President Trump has gone in and sanctioned a Chinese refinery, the buyer of Russian crude [oil]. That is the way to deal with this. That’s the way to put maximum pressure on Russia, their banks, the purchasers of crude oil. That’s the way to deal with this. He’s doing it. The pressure has been maintained and mounting on Vladimir Putin.”
    Hagerty on weakening Russia by regaining U.S. energy independence: “You’re absolutely right, Dave. And President Trump’s been extremely clear about not only wanting to get back to energy independence, but energy dominance for America. That’s bad for Russia, that’s bad for Iran, that’s bad for Venezuela, but it’s great for our allies and for us.”
    Hagerty on the need to end the Russia-Ukraine war: “I think about the fact that [Treasury Secretary] Scott Bessent traveled to Ukraine to put in place a deal for critical minerals that would’ve engaged our economy with theirs. Zelenskyy said, of course I’ll sign it, but I’d like to wait [until] I get to meet with Vice President [JD] Vance in Munich. He goes to Munich—Vice President Vance is courteous enough to meet with him—and he tells Vice President Vance, I’d like to actually sign it with the president at the White House. We accede to that. We let him come to the White House, and what does he do? He tries to re-trade the deal on international TV in front of everybody. I think it really is amazing. I think how congenial President Trump has been in dealing with both of these parties. He wants to bring this to an end, and I’d like to say this: Dave, every week this waits, we’re losing roughly another 5,000 lives. It’s time for both parties, Russia and Ukraine, to get to the table and bring this to an end […] I don’t know the answer in terms of who’s advising Zelenskyy, and I would say this: had it been [Former President] Joe Biden in that Oval office, in that meeting, it would’ve worked, but it certainly is not going to work with President Trump. He wasn’t going to tolerate that sort of behavior. He wasn’t so hungry for a deal to be celebrating it in the Rose Garden. He sent Zelenskyy home, and he should have.”
    Hagerty on Trump’s strength against Iran’s terror regime: “Well, Dave, I’ll remind you that everyone said that the Abraham Accords couldn’t be done, but President Trump was able to deliver on that. If anybody can deliver peace in the Middle East, it’s Donald Trump. I think the Iranians should understand and appreciate the fact that President Trump is not going to take this anymore. It’s going to be maximum pressure. They are the greatest state sponsors of terror, not only in the region, but in the world. They’re in a very difficult place right now. You mentioned, Dave, oil prices are coming down. That’s not good for Iran, right? We started enforcing sanctions, rather than just talking about it the way the Biden Administration said, that’s not good for Iran. Their economy’s in a tough spot right now. Now is the time to negotiate. Now is the time to end this program of terror, to end their nuclear program, and bring peace back to the Middle East.”
    Hagerty on the tariff negotiations between the U.S. and China: “[China tends] to overplay their hand, whether it’s their use of the Belt and Road Initiative, or whether it’s the situation they find themselves in now, again, retaliating against President Trump when he warned them not to, and find themselves in an extraordinarily difficult box. China has a very export dependent economy. They’ve also not played by the same rules that every other major economy does. They steal intellectual property. They subsidize industries. They need to come to the table now and look to actually make a deal […] I worked very closely with the team that negotiated the phase one deal in the first Administration, because they worked with me on the two trade deals that we did with Japan. They committed, at that point, to $200 billion worth of purchases from America. They fell short. China needs to keep its word; China needs to step up. If you think about what happened during the Covid crisis, if you think about the spy balloon that flew across America, there’s a real issue of trust right now. That issue needs to be resolved. China needs to prove that it’s a reliable partner.”

    MIL OSI USA News

  • MIL-OSI China: Announcement on Open Market Operations No.79 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.79 [2025]

    (Open Market Operations Office, April 25, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB159.5 billion through quantity bidding at a fixed interest rate on April 25, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.50%

    RMB159.5 billion

    RMB159.5 billion

    Date of last update Nov. 29 2018

    2025年04月25日

    MIL OSI China News

  • MIL-OSI: Xunlei Filed Its Annual Report on Form 20-F for Fiscal Year 2024

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, April 25, 2025 (GLOBE NEWSWIRE) — Xunlei Limited (“Xunlei” or the “Company”) (NASDAQ: XNET), a leading technology company providing distributed cloud services in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the “SEC”) on April 24, 2025. The annual report can be accessed on the Company’s investor relations website at http://ir.xunlei.com or the SEC’s website at www.sec.gov.

    About Xunlei

    Founded in 2003, Xunlei Limited (NASDAQ: XNET) is a leading technology company providing distributed cloud services in China. Xunlei provides a wide range of products and services across cloud acceleration, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.

    Contact:
    Investor Relations
    Xunlei Limited
    Email: ir@xunlei.com
    Tel: +86 755 6111 1571
    Website: http://ir.xunlei.com

    The MIL Network

  • MIL-OSI China: Top Chinese archaeological discoveries for 2024 unveiled

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

    This image shows relics discovered from the Mapu Tsho relics site in Kangmar County of Xigaze, southwest China’s Xizang Autonomous Region. [Photo/Xinhua]

    BEIJING, April 24 — China revealed on Thursday a list of new archaeological findings as its top 10 discoveries for 2024.

    Among the findings are the Mengxihe Paleolithic site in the southwestern province of Sichuan, the Xiatang Neolithic site in the eastern province of Zhejiang, the Siwa site in the northwestern province of Gansu, the Panlongcheng ruins in the central province of Hubei, the Zhouyuan site in the northwestern province of Shaanxi, the Liulihe relics site in capital Beijing, the Wuwangdun Tomb in eastern province of Anhui, as well as the Mapu Tsho relics site in Xizang Autonomous Region, the Hebosuo site in the southwestern province of Yunnan and the Mo’er Temple ruins in Xinjiang Uygur Autonomous Region.

    This file photo shows a Buddha face discovered from the Mo’er Temple ruins in Kashgar, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    This file photo shows the archaeological site of the Xiatang Neolithic site in Xianju County of Taizhou City, east China’s Zhejiang Province. [Photo/Xinhua]
    This file photo shows an archaeological site of the Mo’er Temple ruins in Kashgar, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    This file photo shows relics discovered from the Mapu Tsho relics site in Kangmar County of Xigaze, southwest China’s Xizang Autonomous Region. [Photo/Xinhua]
    This file photo shows relics discovered from the Mapu Tsho relics site in Kangmar County of Xigaze, southwest China’s Xizang Autonomous Region. [Photo/Xinhua]
    This file photo shows the Mo’er Temple ruins in Kashgar, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    This file photo shows a part of the Liulihe relics site in Beijing, capital of China. [Photo/Xinhua]
    This combo photo shows artifacts discovered from the Xiatang Neolithic site in Xianju County of Taizhou City, east China’s Zhejiang Province. [Photo/Xinhua]
    This image shows animal fossils discovered from the Mengxihe Paleolithic site in Ziyang, southwest China’s Sichuan Province. [Photo/Xinhua]
    An aerial drone photo taken on April 8, 2025 shows the archaeological site of the Mengxihe Paleolithic site in Ziyang, southwest China’s Sichuan Province. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: China’s space exploration benefits the world

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

    BEIJING, April 24 — China launched the Shenzhou-20 crewed spaceship Thursday, continuing efforts to advance space technology for all humanity — a vision long championed by Chinese President Xi Jinping.

    Over the past years, Xi has addressed the importance of international cooperation in peaceful space exploration and development on multiple occasions.

    During the meeting with the Shenzhou-12 astronauts in 2021, Xi said that progress in space science and technology will benefit people around the world, and China wants to use space exploration achievements to create a better future for mankind.

    When meeting representatives of the Chang’e-5 mission in 2021, Xi stressed actively conducting international cooperation and making more contributions to humanity’s well-being.

    According to the China Manned Space Agency, China is in discussions with other nations regarding potential foreign astronaut participation in the country’s future space station missions.

    China welcomes international applications for acquiring lunar samples brought back by the Chang’e-5 and Chang’e-6 probes for scientific research. Scientists from various countries have taken part in researching the Chang’e-5 lunar samples.

    Moreover, Chang’e-7 and Chang’e-8 lunar probes to be launched in the next three years will offer international payload capacity, according to the China National Space Administration (CNSA).

    China has also signed cooperation agreements with 17 countries and international organizations on the International Lunar Research Station (ILRS) construction, offering various levels and forms of collaboration opportunities.

    In a congratulatory letter to the First International Summit on BeiDou Navigation Satellite System (BDS) Applications in 2021, Xi said China is willing to share the achievements of the BDS with all parties, promote the progress of the global satellite navigation industry and make the BDS better serve the world and benefit humankind.

    To date, BDS services have been used in precision agriculture and smart ports in ASEAN countries, South Asia, West Asia, Eastern Europe and Africa to serve local economic and social development.

    Within the BRICS framework, China will continue advancing the development of the BRICS Remote Sensing Satellite Constellation to enhance disaster emergency data sharing.

    China will also provide satellite services to the Belt and Road Initiative partner countries, fostering their sustainable progress in agriculture, disaster prevention, and smart city initiatives.

    When he met with representatives of space scientists and engineers who participated in the research and development of the Chang’e-6 lunar mission last year, Xi called for deepening various forms of international exchange and cooperation in the field of space, sharing development achievements with other countries, improving outer space governance, and making space science and technology achievements more beneficial to all people.

    Outer space is a domain shared by humanity, and space exploration is humanity’s common cause, Xi said.

    MIL OSI China News

  • MIL-OSI China: China to conduct 600-bln-yuan MLF operation on Friday

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

    BEIJING, April 24 — China’s central bank on Thursday said that it will issue 600 billion yuan (83.22 billion U.S. dollars) of one-year medium-term lending facility (MLF) loans on Friday.

    With 100 billion yuan in MLF funds maturing this month, the move will result in a net liquidity injection of 500 billion yuan.

    The net injection of MLF this month has significantly increased compared with that of 63 billion yuan last month, signaling monetary policy efforts in stabilizing growth, said Wang Qing, chief macro analyst at Golden Credit Rating.

    This month’s MLF issuance will continue to undertake operations that utilize fixed-quantity, interest-rate bidding and a multiple-price bidding method.

    The MLF was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

    MIL OSI China News

  • MIL-OSI: Ambia Energy Honored in the 2025 American Business Awards® for Industry-Leading Growth and Innovation

    Source: GlobeNewswire (MIL-OSI)

    LINDON, Utah, April 24, 2025 (GLOBE NEWSWIRE) — Ambia Energy has been awarded two prestigious honors in the 23rd Annual American Business Awards®. CEO Conner Ruggio received a Gold Stevie® Award for Best Entrepreneur in Energy, while COO Spencer Jensen earned a Silver Stevie® Award for Achievement in Management in Energy.

    The American Business Awards are the USA’s premier business awards program. Honoring organizations of all types and sizes, the Stevies recognize outstanding performances in the workplace worldwide. More than 250 professionals participated as judges in determining this year’s winners.

    Judges commended Ruggio for “an outstanding job leading Ambia through a period of incredible growth,” highlighting his strategic leadership that drove a 139% year-over-year increase, expansion into six new states, and company-wide profitability in 2024. His investment in a fully integrated installation model has strengthened Ambia’s ability to serve customers while staying true to its mission of building meaningful careers and stronger communities—earning praise for making it a priority to “give back to the communities in which you live,” as demonstrated by Ambia’s gift of a free solar system to a homeowner battling cancer.

    Appointed COO in 2023, Spencer Jensen was honored for leading a transformational overhaul of Ambia’s operations. Judges noted his “impressive operational transformation, with exceptional results in growth, efficiency, and resilience during a tough market cycle.” Under his leadership, project design timelines were reduced from 55 days to just one, permitting processes were strengthened, and over 2,000 in-house installations were completed in just over a year—contributing to Ambia’s revenue doubling in 2024. Together, Ruggio and Jensen have not only safeguarded Ambia’s growth during a volatile period but also redefined what’s possible in the solar industry. This recognition reflects the company’s commitment to delivering dependable, high-quality energy solutions that help homeowners take control of their energy future.

    See all 2025 American Business Awards winners at stevieawards.com/aba/2025-stevie-award-winners.

    About Ambia Energy
    Ambia Energy is a leading solar and home improvement company with a mission to help homeowners transform their properties into energy-efficient, sustainable spaces. With a focus on innovation and integrity, Ambia’s success is rooted in its dedication to improving the customer experience, ensuring high-quality installations, and fostering a culture of continuous growth and education among its employees.

    Explore Ambia’s award-winning energy solutions at ambiasolar.com.

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6e001b35-5a5d-4e76-8c4e-7c8ca163efca

    https://www.globenewswire.com/NewsRoom/AttachmentNg/22333e1c-5886-4f06-85e6-bef45d0aaf7d

    The MIL Network

  • MIL-OSI China: China’s Shenzhou-20 manned spaceship docks with space station combination

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

    BEIJING, April 24 — China’s Shenzhou-20 crewed spaceship successfully docked with the space station combination late on Thursday night, according to the China Manned Space Agency (CMSA).

    The spaceship made a fast, automated rendezvous and docking with the radial port of the space station’s core module Tianhe at 11:49 p.m. (Beijing Time). The whole process took approximately 6.5 hours, said the CMSA.

    The astronaut trio aboard the spaceship will then enter the Tianhe module. Meanwhile, the Shenzhou-19 crew members are ready for their arrival.

    The spaceship, atop a Long March-2F carrier rocket, blasted off from the Jiuquan Satellite Launch Center in northwest China earlier on Thursday.

    MIL OSI China News

  • MIL-OSI China: Shenzhou-20 astronauts enter space station

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

    This image captured at Beijing Aerospace Control Center on April 25, 2025 shows a group photo of the crew of Shenzhou-19 and Shenzhou-20 manned spaceships. The three astronauts aboard China’s Shenzhou-20 spaceship have entered the country’s space station and met with another astronaut trio in the early hours of Friday, starting a new round of in-orbit crew handover. [Photo/Xinhua]

    BEIJING, April 25 — The three astronauts aboard China’s Shenzhou-20 spaceship have entered the country’s space station and met with another astronaut trio in the early hours of Friday, starting a new round of in-orbit crew handover.

    The Shenzhou-19 crew opened the hatch at 1:17 a.m. (Beijing Time) and greeted the new arrivals, according to the China Manned Space Agency (CMSA).

    The six crew members then took group pictures for the sixth space get-together in China’s aerospace history.

    They will live and work together for about five days to complete planned tasks and handover work, the CMSA said.

    The Shenzhou-19 crew is scheduled to return to the Dongfeng landing site in north China’s Inner Mongolia Autonomous Region on April 29.

    This image captured at Beijing Aerospace Control Center on April 25, 2025 shows the crew of Shenzhou-19 and Shenzhou-20 manned spaceships talking with each other. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: China strengthens IP protection efforts for private enterprises

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

    BEIJING, April 24 — China has implemented a series of measures to enhance intellectual property (IP) protection for private enterprises, ensuring a supportive environment that nurtures their growth, said the country’s top IP regulator on Thursday.

    According to the China National Intellectual Property Administration (CNIPA), national IP protection centers in 2024 received over 240,000 patent pre-examination requests from private enterprises, providing them fast, timely protection.

    Nationwide IP departments also handled 37,000 patent infringement cases involving private firms last year, offering multiple dispute resolution channels.

    The CNIPA has launched a patent industrialization program to support the growth of small and medium-sized enterprises, with nearly 17,000 private enterprises participating in it. In addition, IP-backed financing has been extended to over 40,000 private enterprises.

    Furthermore, the country’s top IP regulator has strengthened early warning mechanisms for overseas IP risks in recent years, helping private enterprises save over 400 million yuan (about 55 million U.S. dollars) in dispute resolution costs. It has also provided training on international IP applications to better equip private enterprises for global competition.

    Noting that the private economy serves as a crucial driving force in advancing China’s modernization, Shen Changyu, head of the CNIPA, said that greater IP protection efforts will be devoted to private enterprises.

    MIL OSI China News

  • MIL-OSI Submissions: Universities – Keeping tabs on native woodland vegetation in times of flood and drought – Flinders

    Source: Flinders University

    Like farmland in Australia, native forests struggle with drought and flooding, so future management decisions need more sophisticated systems to monitor and manage their water needs.  

    A new study led by Flinders University aims to provide a good estimate of water used by trees and plants and bushes under the treetops (or the forest understorey) to help improve management of native woodlands.

    Researchers tested an advanced way to measure evapo-transpiration (ET) patterns in understorey (compared to canopy) vegetation at two different rainfall locations in South Australia to help develop better water and woodland management decision-making in future.

    ET returns water from the soil and plants into the atmosphere and is the major component of terrestrial water balance, explains Professor of Environmental Science and Hydrology Huade Guan, from the National Centre for Groundwater Research and Training at Flinders University.

    “Woodland understorey ET is difficult to monitor using conventional methods. Our latest study tested a new method of measuring understorey evapotranspiration in floodplains and catchment areas,” he says.

    This is important to understand because understorey ET can contribute between 10% (in cooler seasons) and up to 50% (during hot weather) of ecosystem water use, researchers say.

    The latest study, published in the Journal of Hydrology with collaborators around Australia, China and the US, retrieved understorey temperature from airborne thermal imagery and used it in a ‘maximum entropy production’ model (called the ‘MEP model’) to map understorey ET.

    Researchers hope to improve ecosystem water evaluations to create more effective management strategies for increasingly scarce river and freshwater resources.

    The research was based on investigations in a River Red Gum woodland of a Murray floodplain near Bookpurnong in the Riverland and a hilly woodland catchment near Mount Wilson in the Willunga Basin. The locations reflected different topographical, hydrological and climate conditions.  

    Both locations showed understorey ET was a key component of ecosystem water balance, so working out the best way to support River Red Gum and other woodland environmental water requirements could incorporate broadscale monitoring and mapping with high-resolution thermal data from satellites in future.

    The study found that flooding modified water availability and vegetation response, influencing understorey ET dynamics over time, says Flinders University Professor Guan, who leads the Eco-hydrology and Hydro-meteorology Research Group (EcoH2OMe) at the College of Science and Engineering.

    For example, after major flooding in 2022-23, the fraction of understorey ET to the total ecosystem ET declined, likely due to increased overstorey transpiration.

    In the hilly environment, slope orientation plays a key role in regulating ET by controlling solar radiation exposure and soil moisture retention.

    North-facing slopes generally have higher understorey ET than south-facing slopes, particularly in a wet winter, where understorey ET on the north-facing slopes accounts for up to 50% of total surface ET.

    This high understorey ET on north-facing slopes consumes soil moisture a lot quicker, resulting in less water for vegetation use in dry summer than south-facing slopes.

    The study highlights the advantages of integrating new methods and technologies in addressing environmental problems.

    Meanwhile, South Australia is currently experiencing particularly dry weather, which is most likely the result of climate change, according to the SA Water for Good plan. This means less rain and a reduction of flows into traditional water sources such as our reservoirs, rivers and groundwater. The CSIRO has forecast an overall decline in rainfall of between 15% to 30% by 2050.

    The SA Government plan emphasises the need for proactive management of non-prescribed water resources to ensure water security to 2050, including a deeper understanding of overall water resource capacity to prevent over-exploitation and enhance sustainability.

    The article, ‘Integrating the Maximum Entropy Production model and airborne imagery for understorey evapotranspiration mapping’ (2025) by Wenjie Liu, Okke Batelaan, David Bruce, Jingfeng Wang, Hugo Gutierrez, Hailong Wang, Robin Keegan-Treloar, Jianfeng Gou, Robert Keane, Jessica Thompson and Huade Guan has been published in the Journal of Hydrology (Elsevier) DOI: 10.1016/j.jhydrol.2025.133076

    Acknowledgements: Field data were obtained in the projects funded by Murray-Darling Basin Authority (MD005764) and National Centre for Groundwater Research and Training (SR08000001). Researchers acknowledge fieldwork by Karina Gutierrez, Lawrence Burk, Zhongli Liu, Zhechen Zhang, Xiang Xu and Rose Deng and landowners Langdon Badger and Steve Clark for access. Wenjie Liu received support from the China Scholarship Council (201906370006) and Jingfeng Wang’s research is sponsored by the National Science Foundation Hydrological Sciences and Physical and Dynamic Meteorology Program Grant EAR‐2006281.

    MIL OSI – Submitted News

  • MIL-OSI USA News: Unleashing America’s Offshore Critical Minerals and Resources

    Source: The White House

    class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

    Section 1.  Background.  The United States has a core national security and economic interest in maintaining leadership in deep sea science and technology and seabed mineral resources.  The United States faces unprecedented economic and national security challenges in securing reliable supplies of critical minerals independent of foreign adversary control.  Vast offshore seabed areas hold critical minerals and energy resources.  These resources are key to strengthening our economy, securing our energy future, and reducing dependence on foreign suppliers for critical minerals.  The United States also controls seabed mineral resources in one of the largest ocean areas of the world.  Our Nation can, through the exercise of existing authorities and by establishing international partnerships, access potentially vast resources in seabed polymetallic nodules; other subsea geologic structures; and coastal deposits containing strategic minerals such as nickel, cobalt, copper, manganese, titanium, and rare earth elements, which are vital to our national security and economic prosperity.
    Our Nation must take immediate action to accelerate the responsible development of seabed mineral resources, quantify the Nation’s endowment of seabed minerals, reinvigorate American leadership in associated extraction and processing technologies, and ensure secure supply chains for our defense, infrastructure, and energy sectors.

    Sec2.  Policy.  It is the policy of the United States to advance United States leadership in seabed mineral development by:
    (a)  rapidly developing domestic capabilities for the exploration, characterization, collection, and processing of seabed mineral resources through streamlined permitting without compromising environmental and transparency standards;
    (b)  supporting investment in deep sea science, mapping, and technology;
    (c)  enhancing coordination among executive departments and agencies (agencies) with respect to seabed mineral development activities described in this order;
    (d)  establishing the United States as a global leader in responsible seabed mineral exploration, development technologies, and practices, and as a partner for countries developing seabed mineral resources in areas within their national jurisdictions, including their Exclusive Economic Zones (EEZ);
    (e)  creating a robust domestic supply chain for critical minerals derived from seabed resources to support economic growth, reindustrialization, and military preparedness, including through new processing capabilities; and
    (f)  strengthening partnerships with allies and industry to counter China’s growing influence over seabed mineral resources and to ensure United States companies are well-positioned to support allies and partners interested in developing seabed minerals responsibly in areas within their national jurisdictions, including their EEZs.

    Sec3.  Strategic Seabed Critical Mineral Access.  Within 60 days of the date of this order:
    (a)  The Secretary of Commerce shall:
    (i)    acting through the Administrator of the National Oceanic and Atmospheric Administration, and in consultation with the Secretary of State and the Secretary of the Interior, acting through the Director of the Bureau of Ocean Energy Management, expedite the process for reviewing and issuing seabed mineral exploration licenses and commercial recovery permits in areas beyond national jurisdiction under the Deep Seabed Hard Mineral Resources Act (30 U.S.C. 1401 et seq.), consistent with applicable law.  The expedited process, consistent with applicable law, should ensure efficiency, predictability, and competitiveness for American companies;
    (ii)   in coordination with the Secretary of the Interior and the Secretary of Energy, and in consultation with the heads of other relevant agencies, provide a report to the Assistant to the President for Economic Policy, the Chair of the National Energy Dominance Council, and the Vice Chair of the National Energy Dominance Council that identifies:
    (A)  private sector interest and opportunities for seabed mineral resource exploration, mining, and environmental monitoring in the United States Outer Continental Shelf; in areas beyond national jurisdiction; and in areas within the national jurisdictions of certain other nations that express interest in partnering with United States companies on seabed mineral development; and
    (B)  private sector interest and opportunities for polymetallic nodule and other seabed mineral resource processing capacity in the United States or on United States-flagged vessels; and
    (iii)  in consultation with the Secretary of State, the Secretary of the Interior, and the heads of other relevant agencies, and in cooperation with commercial and other non-governmental organizations, develop a plan to map priority areas of the seabed, such as those with abundant or accessible undersea resources, in order to accelerate data collection and characterization, prioritizing areas within the United States Outer Continental Shelf.
    (b)  The Secretary of the Interior shall:
    (i)   establish an expedited process for reviewing and approving permits for prospecting and granting leases for exploration, development, and production of seabed mineral resources within the United States Outer Continental Shelf under the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.), consistent with applicable law.  The expedited process, consistent with applicable law, should ensure efficiency, predictability, and competitiveness for American companies; and
    (ii)  identify which critical minerals may be derived from seabed resources and coordinate with the Secretary of Defense and the Secretary of Energy to indicate which critical minerals are essential for applications such as defense infrastructure, manufacturing, and energy.
    (c)  The Secretary of Commerce, in coordination with the Secretary of State, the Secretary of the Interior, and the Secretary of Energy, shall:
    (i)   engage with key partners and allies to offer support for seabed mineral resource exploration, extraction, processing, and environmental monitoring in areas within the national jurisdictions of those partners and allies, including by seeking scientific collaboration and commercial development opportunities for United States companies, and by developing a prioritized list of countries for engagement; and
    (ii)  provide a joint report to the Assistant to the President for Economic Policy, the Chair of the National Energy Dominance Council, and the Vice Chair of the National Energy Dominance Council on the feasibility of an international benefit-sharing mechanism for seabed mineral resource extraction and development that occurs in areas beyond the national jurisdiction of any country.
    (d)  The Secretary of Defense and the Secretary of Energy shall:
    (i)    provide a report to the Assistant to the President for Economic Policy, the Chair of the National Energy Dominance Council, and the Vice Chair of the National Energy Dominance Council that addresses the feasibility and any potential benefits or drawbacks of using the National Defense Stockpile for physical or virtual storage of materials derived from seabed polymetallic nodules and of entering offtake agreements for these materials;
    (ii)   in consultation with the Secretary of Commerce, review and revise existing regulations, consistent with applicable law, to support domestic processing capabilities for seabed mineral resources, and explore the use of grant and loan authorities, the Defense Production Act (50 U.S.C. 4501 et seq.), and other procurement and financing authorities for this purpose; and
    (iii)  ensure the Strategic and Critical Materials Board of Directors considers seabed mineral resource developments when recommending a strategy for ensuring a secure supply of materials designated as critical to national security to the Secretary of Defense under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.).
    (e)  The Chief Executive Officer of the United States International Development Finance Corporation, the President of the Export-Import Bank of the United States, the Director of the Trade and Development Agency, and the heads of other relevant agencies shall provide a joint report to the Assistant to the President for Economic Policy, the Chair of the National Energy Dominance Council, and the Vice Chair of the National Energy Dominance Council that identifies tools to support domestic and international seabed mineral resource exploration, extraction, processing, and environmental monitoring.

    Sec4.  Definitions.  As used in this order:
    (a)  The term “mineral” means a critical mineral as designated pursuant to 30 U.S.C. 1606(a)(3), as well as uranium, copper, potash, gold, and any other element or compound as determined by the Chair of the National Energy Dominance Council.
    (b)  The term “seabed mineral resources” means polymetallic nodules, cobalt-rich ferromanganese crusts, polymetallic sulfides, heavy mineral sands, phosphorites, and other mineral-bearing materials.
    (c)  The term “processing” includes the concentration, separation, refinement, alloying, and conversion of minerals into usable forms.

    Sec5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
    (i)   the authority granted by law to an executive department or agency, or the head thereof; or
    (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

    DONALD J. TRUMP

    THE WHITE HOUSE,
        April 24, 2025.

    MIL OSI USA News

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Unleashes America’s Offshore Critical Minerals and Resources

    Source: The White House

    REVITALIZING AMERICAN DOMINANCE IN DEEP SEABED MINERALS: Today, President Donald J. Trump signed a historic Executive Order to restore American dominance in offshore critical minerals and resources.

    • The Order rapidly develops domestic capabilities for exploration, characterization, collection, and processing of critical deep seabed minerals.
      • It establishes the U.S. as a global leader in seabed mineral exploration and development both within and beyond national jurisdiction.
      • It creates a robust domestic supply for critical minerals derived from seabed resources.
      • It strengthens partnerships with allies and industry to counter China’s influence in the seabed mineral resource space.
    • The Order instructs the Secretary of Commerce to expedite the process for reviewing and issuing exploration and commercial recovery permits under the Deep Seabed Hard Mineral Resources Act.
    • The Order directs the Secretary of Commerce, along with the Secretary of Interior and Secretary of Energy, to provide a report identifying:
      • Private sector interest and opportunities for seabed mineral exploration, mining, and monitoring in the U.S. Outer Continental Shelf.
      • Private sector interest and opportunities for nodule and other seabed mineral resource processing capacity in the U.S. or on U.S. flagged vessels.
    • The Order directs the Secretaries of Commerce, State, and Interior to develop a plan to map priority areas of the seabed to accelerate data collection.
    • The Order directs the Secretary of Interior to establish a process for reviewing and approving permits and granting licenses within the U.S. Outer Continental Shelf under the Outer Continental Shelf Lands Act and identify which critical minerals may be derived from seabed resources for defense, infrastructure, and energy purposes in coordination with the Secretaries of Energy and Defense.
    •  The Order directs the Secretaries of Commerce, State, Interior, and Energy to engage with partners and allies for seabed mineral exploration and provide a joint report for the feasibility of an international seabed benefit-sharing mechanism.
    • The Order directs the Secretaries of Defense and Energy to provide a report addressing feasibility of using National Defense Stockpile for nodule-derived minerals; review and revise domestic processing capability for seabed mineral resources and DPA authorities; and have the Strategic and Critical Minerals Board develop a strategy.
    • The Order directs the CEO of U.S. International Development Finance Corporation, President of Export-Import Bank of the U.S., and Director of U.S. Trade and Development Agency to provide a report identifying tools to support domestic and international seabed mineral resource exploration, extraction, processing, and environmental monitoring.

    POSITIONING AMERICA AS A GLOBAL LEADER IN CRITICAL MINERALS: President Trump’s visionary leadership is positioning the United States at the forefront of critical mineral production and innovation.  

    • President Trump recently signed an Executive Order to increase American critical mineral production.
    • President Trump also signed an Executive Order to open a Section 232 investigation to evaluate the impact of imports of these materials on America’s security and resilience.
    • President Trump advanced the Ambler Access Project, a 211-mile industrial road through the Brooks Range foothills that enables commercial mining for copper, zinc and other materials in a remote Arctic area in Northwest Alaska.
    • With this Executive Order, President Trump is accelerating seabed mineral exploration and development to unlock vast offshore resources for America’s economic and strategic advantage.

    MIL OSI USA News

  • MIL-OSI Security: Chinese National Indicted for Money Laundering Conspiracy Connected to Scam That Impersonated Federal Officers and Employees

    Source: Office of United States Attorneys

    A federal grand jury returned a one-count indictment today against Binghui Liu, 32, a citizen of China formerly residing in San Jose, charging him with a money laundering conspiracy, Acting U.S. Attorney Michele Beckwith announced.

    According to court documents, between February 2024 and April 2025 Liu and other co‑conspirators engaged in a scheme to launder proceeds derived from a government impersonation fraud scam. Members of the conspiracy pretended to be federal law enforcement officers or employees when contacting target victims. To seek money, the scammers provided false information about the victim’s bank accounts, for example by claiming that charges had been wrongfully filed against the victims and that their bank accounts would be frozen. The scammers typically instructed victims to withdraw their savings in cash and then arranged for a fake law enforcement officer or federal employee to pick up the cash for supposed safekeeping. The scammers used fake names, code words, and instructed the victims to take pictures of themselves and the cash packaged for pickup.

    Liu served as a money launderer in the fraud scheme. He went to victims throughout California and Nevada to take their money. Liu used code words and fake names, and victims were falsely told he was either a federal employee or law enforcement officer. At no point was Liu a federal employee or law enforcement officer.

    In one example, an elderly victim was contacted by someone pretending to be a U.S. Marshal, who informed the victim of a fake arrest warrant and the possibility that the victim’s bank account would be frozen. The victim was instructed to give the money to federal reserve employees, supposedly to protect the funds. The scammers then coached the victim on withdrawing funds, what to say to their bank about the large withdrawals, and how to package the funds for multiple different pickups. On April 9, 2025, FBI agents set up a sting operation. Liu arrived at the elderly victim’s house and took what he believed was $20,000 but was, in fact, fake money. The agents arrested Liu shortly after he took the fake cash. In total, the elderly victim lost over $780,000 to the fraud scheme.

    If you have information related to this case or believe you may be a victim, please submit a report at tips.fbi.gov or call your local FBI office.

    This case is the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Cody S. Chapple and Arelis M. Clemente are prosecuting the case.

    If convicted, Liu faces a maximum statutory penalty of 20 years in prison and a $500,000 fine or twice the value of the property involved in the transaction, whichever is greater. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

    MIL Security OSI

  • MIL-OSI: Oportun to Report First Quarter 2025 Financial Results on Thursday, May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN CARLOS, Calif., April 24, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, will release financial results for its first quarter 2025 on Thursday, May 8, 2025, after market close.

    Oportun will host a conference call and earnings webcast to discuss results on Thursday, May 8, 2025, at 5:00 pm ET / 2:00 pm PT. A live webcast of the call will be accessible from Oportun’s investor relations website at investor.oportun.com, and a webcast replay of the call will be available for one year. The dial-in number for the conference call is 1-888-396-8049 (toll-free) or 1-416-764-8646 (international). Participants should call in 10 minutes prior to the scheduled start time.

    Oportun also announced today that the record date for determining stockholders entitled to vote at Oportun’s 2025 annual meeting of stockholders will be Tuesday, May 27, 2025.

    About Oportun

    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $19.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

    Additional Information and Where to Find It

    Oportun Financial Corporation (“Oportun”), its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with Oportun’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Oportun plans to file a proxy statement (the “2025 Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting.

    Jo Ann Barefoot, Mohit Daswani, Ginny Lee, Carlos Minetti, Louis Miramontes, Scott Parker, Sandra A. Smith, Richard Tambor, Raul Vazquez and R. Neil Williams, all of whom are members of Oportun’s board of directors, are participants in Oportun’s solicitation. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the 2025 Proxy Statement and other relevant documents to be filed with the SEC in connection with the Annual Meeting. Information relating to the foregoing can also be found in Oportun’s definitive proxy statement for its 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”), which was filed with the SEC on May 13, 2024, and is available here. Particular attention is directed to the sections of the 2024 Proxy Statement captioned “Directors, Executive Officers and Corporate Governance,” “Non-Employee Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and Related Transactions.” To the extent that holdings of such participants in Oportun’s securities have changed since the amounts printed in the 2024 Proxy Statement, such changes have been reflected on the following filings: for Ms. Barefoot, on June 28, 2024; for Mr. Daswani, on June 28, 2024 and December 13, 2024; for Ms. Lee, on June 28, 2024; for Mr. Minetti, on June 28, 2024 and December 13, 2024; for Mr. Miramontes, on June 28, 2024; for Mr. Parker, on April 25, 2024, June 18, 2024, and June 28, 2024; for Ms. Smith, on June 28, 2024; for Mr. Tambor, on June 28, 2024 and June 28, 2024; for Mr. Vazquez, on June 18, 2024, September 12, 2024, December 2, 2024, March 12, 2025, and April 4, 2025; and for Mr. Williams, on June 28, 2024 and December 11, 2024.

    Promptly after filing its definitive 2025 Proxy Statement with the SEC, Oportun will mail the definitive 2025 Proxy Statement and a GREEN proxy card to each stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE 2025 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT OPORTUN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, Oportun’s proxy statement (in both preliminary and definitive form), any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting at the SEC’s website, which is located here. Copies of Oportun’s definitive 2025 Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting will also be available, free of charge, at Oportun’s website, which is located here, or by writing to Investor Relations, Oportun Financial Corporation, 2 Circle Star Way, San Carlos, CA 94070. In addition, copies of these materials may be requested, free of charge, from Oportun’s proxy solicitor, Innisfree M&A Incorporated, by calling toll-free to (877) 800-5195.

    The MIL Network

  • MIL-OSI Security: Arrest in Chinatown Results in Illegal Firearm Charge

    Source: Office of United States Attorneys

    Defendant Charged as Part of Make D.C. Safe Again Initiative

    WASHINGTON – Vankese Russell, 26, a resident of the District of Columbia, has been indicted on a federal firearms charge as part of the “Make D.C. Safe Again” initiative. The indictment was announced by U.S. Attorney Edward R. Martin Jr., Special Agent in Charge Anthony Spotswood of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and Chief Pamela Smith of the Metropolitan Police Department (MPD).

    Make D.C. Safe Again is a public safety initiative led by U.S. Attorney Martin that is surging resources to reduce violent crime in the District of Columbia. This initiative was created to address gun violence in the District, prioritize federal firearms violations, pursue tougher penalties for offenders, and seek detention for federal firearms violators.

    Russell is charged in an indictment in federal court with unlawful possession of a firearm by a prohibited person.

    According to court documents, MPD officers from the First District Crime Suppression Team arrested a man in the Chinatown area on Jan. 28, 2025, following the public consumption of marijuana and subsequent discovery of an illegal firearm.

    Court documents say that while on foot patrol near 7th and H Streets NW, officers observed smoke and detected the odor of burning marijuana behind a Metrobus stop. The individual, later identified as Vankese Russell, attempted to extinguish and discard a hand-rolled cigarette upon noticing the officers.

    During a search incident to arrest, officers recovered a loaded .40 caliber Smith & Wesson handgun from Russell’s waistband. Russell was convicted of a felony in 2018, and thus, he was not permitted to possess the firearm.

    This case is being investigated by the ATF Washington Field Office and the Metropolitan Police Department. Assistant U.S. Attorney Kondi Kleinman is prosecuting this case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.ocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI: Bel Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WEST ORANGE, N.J., April 24, 2025 (GLOBE NEWSWIRE) — Bel Fuse Inc. (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the first quarter of 2025.

    First Quarter 2025 Highlights

    Net sales of $152.2 million compared to $128.1 million in Q1-24. Excluding $32.4 million of contribution from Enercon, organic sales down 6.4% from Q1-24.
    Gross profit margin of 38.6%, up from 37.5% in Q1-24
    GAAP net earnings attributable to Bel shareholders of $17.9 million versus $15.9 million in Q1-24
    Non-GAAP net earnings attributable to Bel shareholders of $16.8 million versus $17.0 million in Q1-24
    Adjusted EBITDA of $30.9 million (20.3% of sales) as compared to $22.4 million (17.5% of sales) in Q1-24
    Announced Farouq Tuweiq’s appointment as Bel’s President and CEO, to be effective immediately following the Company’s Annual Meeting of Shareholders (to be held in May 2025)
       

    “We are pleased with our first quarter results, which benefitted from our increased exposure within the defense and commercial aerospace industries and strength in the emerging AI end market,” said Daniel Bernstein, President and CEO. “These factors helped to mitigate the seasonality around Chinese New Year which has historically dictated the trend for our first quarter. Looking ahead at our underlying business demand, we generally expect continued strength in the defense, space and AI end markets throughout the year, which are anticipated to mitigate lower volumes going into the rail, e-Mobility and consumer markets,” concluded Mr. Bernstein.

    Farouq Tuweiq, CFO, added, “Looking to the second quarter, we are operating in a highly dynamic environment and there is difficulty in predicting the moving target of tariffs and assessing the corresponding impact given ongoing and potential future changes. As Bel generally designs and manufactures its products within close geographic proximity to our customers, we estimate that approximately 75% of our global sales are not currently subject to the recent U.S. tariffs that have been imposed. We estimate that ~10% of our consolidated sales relate to product that is manufactured in China and shipped into the U.S., and this is the subset of our revenue where certain customers have requested a pause on orders while the supply chain awaits additional clarity on the longer-term tariff policy with China. Based on information available today, GAAP net sales in the second quarter of 2025 are projected to be in the range of $145 to $155 million, with gross margin in the range of 37% to 39%. This guidance for the second quarter, which is typically solely based on our underlying business demand and existing orders on hand, has been modified downward to take into account approximately $8-10 million of what we believe is a reasonable allowance for potential downside impact from China-related tariffs and a lower expected volume of intraquarter turns. The team will continue to closely monitor the evolving tariff landscape and assess potential alternatives that are within our control,” concluded Mr. Tuweiq.

    Mr. Bernstein continued, “With my upcoming transition to the role of non-executive Chairman of the Board in May, it has been a privilege to be part of Bel’s journey over the past 45 years. The success of the Company is based solely on the dedication of all of our associates, past and present, and it has been an honor to lead such a talented group of associates during my tenure as President and CEO. I am confident about Bel’s future under the leadership of Farouq and the Executive team,” concluded Mr. Bernstein.

    Non-GAAP financial measures, such as Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA, adjust corresponding GAAP measures for provision for income taxes, other income/expense, net, interest income/expense, and depreciation and amortization, and also exclude, where applicable for the covered period presented in the financial statements, certain unusual or special items identified by management such as restructuring charges, gains/losses on sales of businesses and properties, acquisition related costs, impairment charges, noncontrolling interest (“NCI”) adjustments from fair value to redemption value, and certain litigation costsIn addition, in the fourth quarter of 2024, we modified our presentation of Non-GAAP financial measures, including revising our definitions of Adjusted EBITDA and Non-GAAP EPS, to additionally exclude from these Non-GAAP measures (i) stock-based compensation, (ii) amortization of intangibles (which primarily relates to the amortization of finite-lived customer relationships and technology associated with the Company’s historical acquisitions, including those associated with the recent acquisition of Enercon), and (iii) unrealized foreign currency exchange (gains) losses. We believe this change enhances investor insight into our operational performance. We have applied this modified definition of Adjusted EBITDA and Non-GAAP EPS to all periods presentedPlease refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures.

    Conference Call
    Bel has scheduled a conference call for 8:30 a.m. ET on Friday, April 25, 2025 to discuss these results. To participate in the conference call, investors should dial 877-407-0784, or 201-689-8560 if dialing internationally. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. The webcast will be available via replay for a period of at least 30 days at this same Internet address. For those unable to access the live call, a telephone replay will be available at 844-512-2921, or 412-317-6671 if dialing internationally, using access code 13753007 after 12:30 pm ET, also for 30 days.

    About Bel
    Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel’s portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel’s product groups include Power Solutions and Protection (front-end, board-mount, industrial and transportation power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.

    Company Contact:
    Farouq Tuweiq  
    Chief Financial Officer  
    ir@belf.com

    Investor Contact:
    Three Part Advisors
    Jean Marie Young, Managing Director or Steven Hooser, Partner
    631-418-4339
    jyoung@threepa.com; shooser@threepa.com

    Cautionary Language Concerning Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, our guidance for the second quarter of 2025; our statements regarding our expectations for future periods generally including anticipated financial performance, projections and trends for the remainder of the 2025 year ahead and other future periods; our statements regarding future events, performance, plans, intentions, beliefs, expectations and estimates, including statements regarding matters such as trends and expectations as to our sales, volumes, gross margin, products, product groups, customers, geographies and end markets; statements about uncertainty of the evolving tariff landscape, associated difficulties in forecasting, expectations regarding future clarity on tariff policy, the Company’s estimates concerning Bel’s global sales and recently imposed tariffs, and the Company’s intention to continue to monitor the tariff landscape and assess potential alternatives; statements about anticipated continued strength in certain end markets, and views on the effects on the Company’s overall future performance; statements about the Company’s upcoming management transition; and statements regarding our expectations and beliefs regarding trends in the Company’s business and industry and the markets in which Bel operates, and about broader market trends and the macroeconomic environment generally, and other statements regarding the Company’s positioning, its strategies, future progress, investments, plans, targets, goals, and other focuses and initiatives, and the expected timing and potential benefits thereof. These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “forecast,” “outlook,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Bel’s control. Bel’s actual results could differ materially from those stated or implied in our forward-looking statements (including without limitation any of Bel’s projections) due to a number of factors, including but not limited to, difficulties associated with integrating previously acquired companies, including any unanticipated difficulties, or unexpected or higher than anticipated expenditures, relating to Bel’s November 2024 acquisition of Enercon, and including, without limitation, the risk that Bel is unable to integrate the Enercon business successfully or difficulties that result in the failure to realize the expected benefits and synergies within the expected time period (if at all); the possibility that the Bel’s intended acquisition of the remaining 20% stake in Enercon is not completed in accordance with the shareholders agreement as contemplated for any reason, and any resulting disruptions to Bel’s business and its currently 80% owned Enercon subsidiary as a result thereof; trends in demand which can affect Bel’s products and results, including that demand in Enercon’s end markets can be cyclical, impacting the demand for Enercon’s products, which could be materially adversely affected by reductions in defense spending; the market concerns facing Bel’s customers, and risks for the Company’s business in the event of the loss of certain substantial customers; the continuing viability of sectors that rely on Bel’s products; the effects of business and economic conditions, and challenges impacting the macroeconomic environment generally and/or Bel’s industry in particular; the effects of rising input costs, and cost changes generally, including the potential impact of inflationary pressures; capacity and supply constraints or difficulties, including supply chain constraints or other challenges; the impact of public health crises; difficulties associated with the availability of labor, and the risks of any labor unrest or labor shortages; risks associated with Bel’s international operations, including Bel’s substantial manufacturing operations in China, and following Bel’s November 2024 acquisition of Enercon , risks associated with operations in Israel, which may be adversely affected by political or economic instability, major hostilities or acts of terrorism in the region; risks associated with restructuring programs or other strategic initiatives, including any difficulties in implementation or realization of the expected benefits or cost savings; product development, commercialization or technological difficulties; the regulatory and trade environment including the potential effects of the imposition of new or increased tariffs and trade restrictions that may impact Bel, its customers and/or its suppliers, and risks associated with the evolving trade environment, the ongoing implementation and modification of tariffs, trade restrictions, and changes in trade agreements, and general uncertainty about future changes in trade and tariff policy; risks associated with fluctuations in foreign currency exchange rates and interest rates; uncertainties associated with legal proceedings; the market’s acceptance of the Company’s new products and competitive responses to those new products; the impact of changes to U.S. and applicable foreign legal and regulatory requirements, including tax laws, trade and tariff policies, such as any new or increase in tariffs imposed either by the U.S. government on foreign imports or by a foreign government on U.S. exports related to the countries in which Bel transacts business; and the risks detailed in Bel’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in subsequent reports filed by Bel with the Securities and Exchange Commission, as well as other documents that may be filed by Bel from time to time with the Securities and Exchange Commission. In light of the risks and uncertainties impacting Bel’s business, there can be no assurance that any forward-looking statement will in fact prove to be correct. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Bel’s views as of the date of this press release. Bel anticipates that subsequent events and developments will cause its views to change. Bel undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Bel’s views as of any date subsequent to the date of this press release.

    Non-GAAP Financial Measures

    The Non-GAAP financial measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America (“GAAP”). These measures should not be considered a substitute for, and the reader should also consider, income from operations, net earnings, earnings per share and other measures of performance as defined by GAAP as indicators of our performance or profitability. Our non-GAAP measures may not be comparable to other similarly-titled captions of other companies due to differences in the method of calculation. We present results adjusted to exclude the effects of certain unusual or special items and their related tax impact that would otherwise be included under U.S. GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. For additional information about our use of non-GAAP financial measures in connection with our Incentive Compensation Program, please see the Executive Compensation Discussion and Analysis (CD&A) section appearing in our Definitive Proxy Statement filed with the Securities and Exchange Commission on April 11, 2025.

    Website Information
    We routinely post important information for investors on our website, www.belfuse.com, in the “Investor Relations” section. We use our website as a means of disclosing material, otherwise non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, Securities and Exchange Commission (SEC) filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

    [Financial tables follow]

           
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Statements of Operations
    (in thousands, except per share amounts)
    (unaudited)
           
        Three Months Ended  
        March 31,  
        2025     2024  
                     
    Net sales   $ 152,238     $ 128,090  
    Cost of sales     93,419       80,012  
    Gross profit     58,819       48,078  
    As a % of net sales     38.6 %     37.5 %
                     
    Research and development costs     7,222       5,215  
    Selling, general and administrative expenses     29,507       24,944  
    As a % of net sales     19.4 %     19.5 %
    Restructuring charges     (2,933 )     65  
    Income from operations     25,023       17,854  
    As a % of net sales     16.4 %     13.9 %
                     
    Interest expense     (4,152 )     (434 )
    Interest income     275       1,115  
    Other income, net     2,639       1,817  
    Earnings before income taxes     23,785       20,352  
                     
    Provision for income taxes     5,463       4,478  
    Effective tax rate     23.0 %     22.0 %
    Net earnings   $ 18,322     $ 15,874  
    As a % of net sales     12.0 %     12.4 %
                     
    Less: Net earnings attributable to noncontrolling interest     838        
    Redemption value adjustment attributable to noncontrolling interest     (390 )      
    Net earnings attributable to Bel Fuse Shareholders   $ 17,874     $ 15,874  
                     
    Weighted average number of shares outstanding:                
    Class A common shares – basic and diluted     2,115       2,139  
    Class B common shares – basic and diluted     10,457       10,610  
                     
    Net earnings per common share:                
    Class A common shares – basic and diluted   $ 1.36     $ 1.19  
    Class B common shares – basic and diluted     1.43     $ 1.26  
                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

                 
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Balance Sheets
    (in thousands, unaudited)
                 
        March 31, 2025     December 31, 2024  
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 65,927     $ 68,253  
    Held to maturity U.S. Treasury securities     950       950  
    Accounts receivable, net     103,643       111,376  
    Inventories     164,815       161,370  
    Other current assets     33,090       31,581  
    Total current assets     368,425       373,530  
    Property, plant and equipment, net     47,271       47,879  
    Right-of-use assets     24,962       25,125  
    Related-party note receivable     3,270       2,937  
    Equity method investment     9,856       9,265  
    Goodwill and other intangible assets, net     436,438       439,984  
    Other assets     50,234       51,069  
    Total assets   $ 940,456     $ 949,789  
                     
    Total liabilities, redeemable noncontrolling interests and stockholders’ equity                
    Current liabilities:                
    Accounts payable   $ 46,110     $ 49,182  
    Operating lease liability, current     8,540       7,954  
    Other current liabilities     56,585       70,933  
    Total current liabilities     111,235       128,069  
    Long-term debt     280,000       287,500  
    Operating lease liability, long-term     17,349       17,763  
    Other liabilities     73,937       75,295  
    Total liabilities     482,521       508,627  
    Redeemable noncontrolling interests     81,034       80,586  
    Stockholders’ equity     376,901       360,576  
    Total liabilities, redeemable noncontrolling interests and stockholders’ equity   $ 940,456     $ 949,789  
                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

           
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Statements of Cash Flows
    (in thousands, unaudited)
           
        Three Months Ended  
        March 31,  
        2025     2024  
                     
    Cash flows from operating activities:                
    Net earnings   $ 18,322     $ 15,874  
    Adjustments to reconcile net earnings to net cash provided by operating activities:                
    Depreciation and amortization     6,684       3,684  
    Stock-based compensation     1,179       804  
    Amortization of deferred financing costs     295       26  
    Deferred income taxes     (1,412 )     (1,676 )
    Net unrealized gains on foreign currency revaluation     (3,663 )     (647 )
    Other, net     (518 )     (71 )
    Changes in operating assets and liabilities:                
    Accounts receivable, net     8,220       725  
    Unbilled receivables     (601 )     3,644  
    Inventories     (2,462 )     5,688  
    Accounts payable     (3,374 )     (7,575 )
    Accrued expenses     (11,058 )     (16,440 )
    Accrued restructuring costs     (4,508 )     (1,254 )
    Income taxes payable     4,107       4,971  
    Other operating assets/liabilities, net     (3,064 )     (1,603 )
    Net cash provided by operating activities     8,147       6,150  
                     
    Cash flows from investing activities:                
    Purchases of property, plant and equipment     (2,790 )     (2,929 )
    Purchases of held to maturity U.S. Treasury securities           (42,726 )
    Proceeds from held to maturity securities           30,374  
    Investment in related party notes receivable     (333 )     (492 )
    Proceeds from sale of property, plant and equipment     58       192  
    Net cash used in investing activities     (3,065 )     (15,581 )
                     
    Cash flows from financing activities:                
    Dividends paid to common stockholders     (829 )     (837 )
    Purchases of common stock           (6,283 )
    Proceeds of long-term debt     5,000        
    Repayments of long-term debt     (12,500 )      
    Net cash used in financing activities     (8,329 )     (7,120 )
                     
    Effect of exchange rate changes on cash and cash equivalents     921       (1,500 )
                     
    Net decrease in cash and cash equivalents     (2,326 )     (18,051 )
    Cash and cash equivalents – beginning of period     68,253       89,371  
    Cash and cash equivalents – end of period   $ 65,927     $ 71,320  
                     
                     
    Supplementary information:                
    Cash paid during the period for:                
    Income taxes, net of refunds received   $ 2,277     $ 978  
    Interest payments   $ 4,207     $ 981  
    ROU assets obtained in exchange for lease obligations   $ 637     $ 2,951  
                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

                 
    Bel Fuse Inc.
    Supplementary Information(1)
    Product Group Highlights
    (dollars in thousands, unaudited)
                 
        Sales     Gross Margin  
        Q1-25     Q1-24     % Change     Q1-25     Q1-24     Basis Point Change  
    Power Solutions and Protection   $ 83,054     $ 60,247       37.9 %     42.6 %     44.0 %     (140 )
    Connectivity Solutions     50,730       54,285       -6.5 %     37.9 %     36.1 %     180  
    Magnetic Solutions     18,454       13,558       36.1 %     24.7 %     16.0 %     870  
    Total   $ 152,238     $ 128,090       18.9 %     38.6 %     37.5 %     110  
                                                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

           
    Bel Fuse Inc.
    Supplementary Information(1)
    Reconciliation of GAAP Net Earnings to Non-GAAP Operating Income and Adjusted EBITDA(2)(3)
    (in thousands, unaudited)
           
        Three Months Ended  
        March 31,  
        2025     2024  
                     
    GAAP Net earnings   $ 18,322     $ 15,874  
    Provision for income taxes     5,463       4,478  
    Other income/expense, net     (2,639 )     (1,817 )
    Interest income     (275 )     (1,115 )
    Interest expense     4,152       434  
    GAAP Operating Income   $ 25,023     $ 17,854  
    Restructuring charges     (2,933 )     65  
    Amortization of inventory step-up     958        
    Stock-based compensation     1,179       804  
    Non-GAAP Operating Income   $ 24,227     $ 18,723  
    Depreciation and amortization     6,684       3,684  
    Adjusted EBITDA   $ 30,911     $ 22,407  
    % of net sales     20.3 %     17.5 %
                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
    (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. See the section above captioned “Non-GAAP Financial Measures” for additional information.
    (3) In the fourth quarter of 2024, we modified our presentation of Non-GAAP financial measures, including revising our definitions of Adjusted EBITDA and Non-GAAP EPS, to additionally exclude from these Non-GAAP measures (i) stock-based compensation, (ii) amortization of intangibles (which primarily relates to the amortization of finite-lived customer relationships and technology associated with the Company’s historical acquisitions, including those associated with the recent acquisition of Enercon), and (iii) unrealized foreign currency exchange (gains) losses. We believe this change enhances investor insight into our operational performance. We have applied this modified definition of Adjusted EBITDA and Non-GAAP EPS to all periods presented.

    Bel Fuse Inc.
    Supplementary Information(1)
    Reconciliation of GAAP Measures to Non-GAAP Measures(2)(4)
    (in thousands, except per share data) (unaudited)
     

    The following tables detail the impact that certain unusual or special items had on the Company’s net earnings per common Class A and Class B basic and diluted shares (“EPS”) and the line items in which these items were included on the consolidated statements of operations.

        Three Months Ended March 31, 2025     Three Months Ended March 31, 2024  
    Reconciling Items   Earnings before taxes     Provision for income taxes     Net Earnings Attributable to Bel Fuse Shareholders     Class A EPS(3)     Class B EPS(3)     Earnings before taxes     Provision for income taxes     Net Earnings Attributable to Bel Fuse Shareholders     Class A EPS(3)     Class B EPS(3)  
                                                                                     
    GAAP measures   $ 23,785     $ 5,463     $ 17,874     $ 1.36     $ 1.43     $ 20,352     $ 4,478     $ 15,874     $ 1.19     $ 1.26  
    Restructuring charges     (2,933 )     (371 )     (2,562 )     (0.20 )     (0.21 )     65             65              
    Redemption value adjustment on redeemable NCI                 (390 )     (0.03 )     (0.03 )                              
    Amortization of inventory step-up     958       220       738       0.06       0.06                                
    Stock-based compensation     1,179       243       936       0.07       0.08       804       166       638       0.05       0.05  
    Amortization of intangibles     3,686       648       3,038       0.23       0.24       1,394       264       1,130       0.09       0.09  
    Unrealized foreign currency exchange (gains) losses     (3,663 )     (868 )     (2,795 )     (0.21 )     (0.22 )     (899 )     207       (692 )     (0.05 )     (0.05 )
    Non-GAAP measures   $ 23,012     $ 5,335     $ 16,839     $ 1.28     $ 1.35     $ 21,716     $ 5,115     $ 17,015     $ 1.27     $ 1.35  
                                                                                     

    (1) The supplementary information included in this press release for 2025 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
    (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. See the section above captioned “Non-GAAP Financial Measures” for additional information.
    (3) Individual amounts of earnings per share may not agree to the total due to rounding.
    (4) In the fourth quarter of 2024, we modified our presentation of Non-GAAP financial measures, including revising our definitions of Adjusted EBITDA and Non-GAAP EPS, to additionally exclude from these Non-GAAP measures (i) stock-based compensation, (ii) amortization of intangibles (which primarily relates to the amortization of finite-lived customer relationships and technology associated with the Company’s historical acquisitions, including those associated with the recent acquisition of Enercon), and (iii) unrealized foreign currency exchange (gains) losses. We believe this change enhances investor insight into our operational performance. We have applied this modified definition of Adjusted EBITDA and Non-GAAP EPS to all periods presented.

           
    Bel Fuse Inc.
    Supplementary Information
    (1)
    Reconciliation of GAAP Measures to Non-GAAP Measures
    (2)(4)
    (in thousands, except per share data) (unaudited)
           
        Three Months Ended June 30, 2024  
    Reconciling Items   Earnings before taxes     Provision for income taxes     Net Earnings Attributable to Bel Fuse Shareholders     Class A EPS(3)     Class B EPS(3)  
                                             
    GAAP measures   $ 22,883     $ 4,077     $ 18,806     $ 1.43     $ 1.50  
    Restructuring charges     638       153       485       0.04       0.04  
    Stock-based compensation     972       200       772       0.06       0.06  
    Amortization of intangibles     1,148       239       909       0.07       0.07  
    Unrealized foreign currency exchange (gains) losses     370       80       290       0.02       0.02  
    Non-GAAP measures   $ 26,011     $ 4,749     $ 21,262     $ 1.61     $ 1.70  
        Three Months Ended September 30, 2024  
    Reconciling Items   Earnings before taxes     Provision for income taxes     Net Earnings Attributable to Bel Fuse Shareholders     Class A EPS(3)     Class B EPS(3)  
                                             
    GAAP measures   $ 11,188     $ 3,108     $ 8,080     $ 0.61     $ 0.65  
    Restructuring charges     1,087       154       933       0.07       0.07  
    Acquisition related costs     4,292       987       3,305       0.25       0.27  
    Stock-based compensation     1,007       208       799       0.06       0.06  
    Amortization of intangibles     1,152       239       913       0.07       0.07  
    Unrealized foreign currency exchange (gains) losses     1,075       266       809       0.06       0.06  
    Non-GAAP measures   $ 19,801     $ 4,962     $ 14,839     $ 1.13     $ 1.19  
                                             

    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
    (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. See the section above captioned “Non-GAAP Financial Measures” for additional information.
    (3) Individual amounts of earnings per share may not agree to the total due to rounding.
    (4) In the fourth quarter of 2024, we modified our presentation of Non-GAAP financial measures, including revising our definitions of Adjusted EBITDA and Non-GAAP EPS, to additionally exclude from these Non-GAAP measures (i) stock-based compensation, (ii) amortization of intangibles (which primarily relates to the amortization of finite-lived customer relationships and technology associated with the Company’s historical acquisitions, including those associated with the recent acquisition of Enercon), and (iii) unrealized foreign currency exchange (gains) losses. We believe this change enhances investor insight into our operational performance. We have applied this modified definition of Adjusted EBITDA and Non-GAAP EPS to all periods presented.

    The MIL Network

  • MIL-OSI Africa: Chikunga leads SA delegation at Brazil BRICS Women Ministerial Meeting

    Source: South Africa News Agency

    Minister in the Presidency responsible for Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, is leading South Africa’s delegation to the BRICS Women Ministerial Meeting at the Itamaraty Palace in Brasília, Brazil.

    The Ministerial meeting, taking place on Thursday, is one of several high-level engagements under the 2025 BRICS Presidency, led by Brazil, and is themed: “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance”.

    The meeting will bring together Ministers responsible for gender and women’s affairs across BRICS member states (Brazil, Russia, India, China, and South Africa) to advance multilateral cooperation on women’s empowerment and gender-responsive governance.

    The BRICS Women Ministerial Meeting was first conceptualised during South Africa’s BRICS Presidency in 2023, when South Africa proposed the institutionalisation of a platform for Ministers responsible for women’s affairs.

    This initiative aimed to integrate gender equality and women’s empowerment more centrally into BRICS multilateralism. Since then, both Russia in 2024, and Brazil in 2025, have continued the momentum, hosting sessions that advance this collaborative agenda.

    The 2025 Ministerial will focus on three priority areas:
    •    Women, Development and Entrepreneurship,
    •    Digital Governance, Misogyny and Disinformation, and
    •    Women’s Empowerment, Climate Action and Sustainable Development.

    The Department of Women, Youth and Persons with Disabilities said Chikunga will participate in all three thematic debates scheduled for the Ministerial Meeting, where she will contribute to discussions on women’s economic empowerment, digital governance, and climate resilience.

    “Her participation underscores South Africa’s commitment to ensuring that gender equality is mainstreamed across all areas of governance, policy, and development within the BRICS framework. These themes reflect shared challenges and ambitions across the BRICS countries, particularly in the context of inclusive economic development, digital rights, and sustainability.

    “The meeting offers a strategic space for exchanging policy approaches, aligning efforts, and strengthening collective commitments to gender justice. South Africa’s participation is consistent with its broader commitment to women development, social inclusion, and multilateral solidarity,” the department said in a statement on Thursday. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI USA: Gillibrand, Schumer, Torres Push The U.S. Consumer Product Safety Commission To Swiftly Finalize Federal Regulations For Lithium-Ion Batteries; Rule Would Make E-Bikes Safer

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand

    Rechargeable Lithium-Ion Batteries Have Caused 1,000+ Fires And 34 Deaths Since 2019 In New York City Alone

    Rulemaking Would Protect Innocent Americans From The Dangers Of Cheap And Defective Imported Lithium-Ion Batteries 

    WASHINGTON, D.C. – Today, U.S. Senator Kirsten Gillibrand, Senate Minority Leader Chuck Schumer, and Representative Ritchie Torres are pushing the U.S. Consumer Product Safety Commission (CPSC) to move forward and finalize federal regulations for lithium-ion batteries by voting in favor of the notice of proposed rulemaking (NPRM) on Wednesday, April 30. CPSC’s decision to move forward on a vote comes after the members sent a letter to CPSC earlier this week advocating for this move.

    Lithium-ion batteries, which are commonly used in e-bikes, electric scooters, and other micromobility devices, are often manufactured abroad without being subject to acceptable safety standards. As a result, they commonly cause fires that lead to property damage or loss of life. Following an indefinite postponement of the meeting to advance federal regulations, the lawmakers called on the CPSC to issue a notice of proposed rulemaking (NPRM) – an official document explaining an agency’s plan to address a particular problem – on lithium-ion batteries as soon as possible in order to protect the lives of Americans who rely on e-bikes and e-scooters. CPSC scheduled a vote on the NPRM yesterday.

    The members noted in the letter, “Last year, we led the effort in Congress to reach a bipartisan compromise that would have authorized the Commission to enact safety standards based upon generally accepted voluntary standards for the use of lithium-ion batteries in micromobility products. We will continue fighting to pass the Setting Consumer Standards for Lithium-Ion Batteries Act, but as the legislation works its way through Congress, the Commission must do all it can to save lives and protect Americans from the poorly-made batteries from China that have caused harm.”

    The full text of the letter is available here and below.

    Dear Acting Chairman Feldman:

     We write to urge the U.S. Consumer Product Safety Commission (the “Commission”) to swiftly issue a notice of proposed rulemaking (“NPRM”) moving the proposed rule to establish a new safety standard for lithium-ion batteries used in micromobility products and electrical systems of micromobility products containing such batteries, which has received bipartisan support and would save countless lives. 

     As you know, last year, we led the effort in Congress to reach a bipartisan compromise that would have authorized the Commission to enact safety standards based upon generally accepted voluntary standards for the use of lithium-ion batteries in micromobility products. We will continue fighting to pass the Setting Consumer Standards for Lithium-Ion Batteries Act but as the legislation works its way through Congress, the Commission must do all it can to save lives and protect Americans from the poorly-made batteries from China that have caused harm.

    To that end, we were pleased to see CPSC formulate proposed safety standards that would address the risk of death and injury associated with lithium-ion batteries used in micromobility product electrical systems. A decisional meeting to issue a NPRM was scheduled for January 29, 2025, but has been indefinitely postponed. Given the public safety benefits that would arise from issuance and finalization of the NPRM, we strongly urge the Commission to move forward with advancing it as soon as possible. Any delay would not only impact consumers across the country, it would also put the safety and lives of our country’s finest heroes, our law enforcement and first responders, in danger. 

    Further, many of these cheap and defective lithium-ion batteries are manufactured in China without being subject to effective safety standards, ultimately causing fires or other safety hazards. In New York City alone, the New York City Fire Department reports rechargeable lithium-ion batteries have caused more than 1,000 fires since 2019, resulting in 523 injuries, 34 deaths & damage to over 650 hundreds of structures. In 2024, there were 279 e-bike and e-mobility device battery fires in NYC, a dramatic increase from the 30 that occurred in 2019. While the Administration and the Commission consider policy options to address economic relations with China, it is critical that the Commission advance this rulemaking as a means of protecting innocent Americans from the dangers of cheap and defective imported lithium-ion batteries.  

    As the Commission continues its work, we stand ready to work together to address this serious public safety concern. Thank you for your prompt attention to this important issue. 

    MIL OSI USA News

  • MIL-OSI: NCS Multistage Holdings, Inc. Schedules First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (Nasdaq: NCSM) will host a conference call to discuss its first quarter 2025 results on Thursday, May 1, 2025 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its first quarter 2025 earnings release the evening prior to the conference call.

    For those participants who wish to ask questions, please dial (800) 715-9871 (U.S. toll-free) or +1 (646) 307-1963 (international) and enter the Conference ID: 7182351. A listen-only option is also available through this link. It is recommended that participants join at least 10 minutes prior to the event start. The replay will be available in the Investors section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.

    NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East, Argentina and China. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

    Contact:
    Michael Morrison
    Chief Financial Officer
    +1 281-453-2222
    IR@ncsmultistage.com

    The MIL Network

  • MIL-OSI United Nations: Committee on the Elimination of Racial Discrimination Holds Informal Meeting with States Parties to the Convention

    Source: United Nations – Geneva

    The Committee on the Elimination of Racial Discrimination today held an informal meeting with States parties to the International Convention on the Elimination of All Forms of Racial Discrimination.

    Opening the meeting, Michal Balcerzak, Committee Chair, said this year was the sixtieth anniversary of the entry into force of the Convention.  This was a moment of reflection, not only on past achievements, but also on the current and future viability of the treaty body system. The Committee was facing turbulent times, and many challenges were undermining the realisation of human rights and racial equality.

    Mr. Balcerzak called on States parties to renew commitment to fully respect and effectively implement obligations under international human rights law, including the Convention.  Prompt action was needed to end current conflicts, address the root causes of racial discrimination, and prevent further human rights violations targeting people based on their national or ethnic origin and identity.

    Régine Esseneme, Committee Vice-Chair, said the Convention was adopted by the General Assembly in 1965 and entered into force in 1969.  It covered all areas of human rights and fundamental freedoms and had been ratified by 182 countries.  For several years, States parties had submitted fewer reports to the Committee, often choosing to combine reports over longer periods. 

    The discussion with States parties addressed topics including the liquidity crisis facing the Committee and the United Nations treaty body system, cooperation with the Committee, commemoration of the Convention’s sixtieth anniversary, the Committee’s simplified reporting and individual communications procedures, hybrid dialogues, and measures to prevent racial discrimination.

    Speaking in the discussion were Mexico, Finland, Belgium, Bolivia, Spain, Brazil, Venezuela, China and Cuba.

    The programme of work and other documents related to the Committee’s one hundred and fifteenth session can be found here.  Summaries of the public meetings of the Committee can be found here, while webcasts of the public meetings can be found here.

    The Committee will next meet in public on Friday, 25 April at 3 p.m. to hold a half-day general discussion on reparations for the injustices from the transatlantic trade of enslaved Africans, their treatment as chattel, and the ongoing harms to and crimes against people of African descent.

    Opening Statements

    MICHAL BALCERZAK, Committee Chair, said this year was the sixtieth anniversary of the entry into force of the International Convention on the Elimination of All Forms of Racial Discrimination.  This was a moment of reflection, not only on past achievements, but also on the current and future viability of the treaty body system. The Committee was facing turbulent times, and many challenges were undermining the realisation of human rights and racial equality.

    In the last 60 years, there had been progress in the fight against racial discrimination.  However, progress had not occurred at the pace and to the extent needed and expected by marginalised groups and victims of racial discrimination, and today, there were serious risks of backsliding.  The Committee called on States parties to renew commitment to fully respect and effectively implement obligations under international human rights law, including the Convention.  Prompt action was needed to end current conflicts, address the root causes of racial discrimination, and prevent further human rights violations targeting people based on their national or ethnic origin and identity.

    The United Nations treaty body system was faced by an unprecedented crisis marked by acute financial and liquidity constraints.  These challenges struck at the very core of the Committee’s ability to carry out its mandate effectively.  The downsizing of resources had already begun to significantly impair the Committee’s work. Under the Convention, the expenses of the Committee were required to be borne by State parties.  The current situation raised serious concerns about the sustainability of this obligation.  The Committee was facing the real risk of reducing its activities, and, in a worst-case scenario, cancelling sessions due to lack of resources.  This year, the second and third sessions of the Committee were not yet confirmed.  Weakening of the Committee would not only weaken international human rights oversight but also send a troubling signal about the collective will to combat racial discrimination globally. 

    In addition, the Committee was increasingly impacted by a drop in timely reporting by States parties – a trend that undermined its ability to plan and hold dialogue sessions, notably for the years 2026 and 2027.  But despite these challenges, the Committee remained steadfast.  On average, it reviewed 18 State party reports per year, consistently worked to refine its methods of work, and continued to engage in meaningful, forward-looking initiatives in line with its mandate.

    This year marked the sixtieth anniversary of the Convention, which was adopted on 21 December 1965.  To mark this auspicious occasion, the Committee and its Secretariat were working in collaboration with partners on a year-long campaign throughout 2025.  The campaign highlighted the foundational importance of the Convention for the fight against racial discrimination, and focused attention on its continued relevance today.  It would stimulate discussions on effective practices to address structural and emerging challenges in preventing and combatting racial discrimination and aimed to renew the commitment for the effective implementation of the Convention. 

    The Committee encouraged all States parties to the Convention to contribute to the anniversary by taking concrete action to implement the Convention, including jointly with other States and stakeholders, at the local, national, regional or international levels. The Committee would hold a high-level commemorative event, tentatively scheduled to take place on 4 December 2025. The active support of States parties and all stakeholders in the organization of this event was crucial for its success.

    The Committee had adopted general recommendation 37 in 2024 on equality and freedom from racial discrimination in the enjoyment of the right to health.  This general recommendation clarified the obligations undertaken under the Convention regarding the right to health and provided guidance on measures to address concerns in line with the Convention. 

    Currently, the Committee was working with the Committee on Migrant Workers on a joint general recommendation on xenophobia; regional consultations were held last year to inform the drafting. It was also elaborating a general recommendation on reparations, which would provide guidance on the scope and content of the right to reparations under international human rights law, particularly concerning the harms of the forced capture of Africans, the transatlantic transport of those captives, their enslavement as chattel, and the massive and continuing harms suffered by their descendants.

    The Committee called on States parties to provide advice on how to address the unprecedented crisis affecting the treaty body system.

    RÉGINE ESSENEME, Committee Vice-Chair, said the Convention was adopted by the General Assembly in 1965 and entered into force in 1969.  It covered all areas of human rights and fundamental freedoms and had been ratified by 182 countries.  These States parties had committed to engaging in the Committee’s periodic review process, under which each State party was obliged to submit an initial report after one year of ratification and subsequent periodic reports every two years.  For several years however, States parties had submitted fewer reports to the Committee, often choosing to combine reports over longer periods. 

    Most States had submitted to the Committee’s simplified reporting procedure, but given its resource limitations, the Committee prioritised States with reports overdue by more than 10 years for this procedure.  Currently, 78 States parties had significant delays in the submission of reports.  The Committee sought States’ views on this issue and on methods of fostering collaboration with States parties to ensure that they honoured their commitments under the Convention.

    Discussion with States Parties

    In the ensuing discussion, representatives of States parties said, among other things, that the Convention, the first fundamental human rights treaty, was an essential tool for combatting racial discrimination.  Speakers expressed commitment to fulfilling their obligations under the Convention and eliminating racial discrimination, xenophobia and social exclusion, and to cooperating with the Committee.  They thanked the Committee for its work in eliminating racial discrimination. Cooperating with the Committee gave States the ability to ensure the highest possible implementation of the Convention.

    Many speakers said they would join in the commemoration of the sixtieth anniversary of the Convention, which offered an opportunity for renewing commitments under the Convention and addressing modern challenges related to racial discrimination, including hate speech, discrimination and xenophobic practices.  They expressed concern about the United Nations’ liquidity crisis, which impacted the Committee’s work.

    Speakers presented measures to prevent racial discrimination and promote racial equality; recognise the status and promote the rights of indigenous peoples, as well as their participation in policy development; and participate in the Committee’s reporting procedure and follow-up on the recommendations of the Committee.

    Some speakers proposed that the Committee held hybrid meetings with States when necessary to promote the participation of civil servants with specific knowledge and civil society in States with limited resources.  One speaker called for the hybrid meeting tools used by the United Nations to guarantee the equal participation of all States.  Some speakers called on the Committee to strengthen its cooperation with regional mechanisms and other international bodies, including the United Nations Office on Genocide Prevention and the Responsibility to Protect.

    One speaker said that individual communications needed to be handled effectively.  How did the Committee monitor the implementation of its decision on individual communications?

    Some speakers noted that the Committee had decided to extend the simplified reporting procedure to all States parties, but at the same time requested many States to continue using the regular reporting procedure as their reports were not overdue by 10 years. Why had the Committee decided to do this?  The simplified reporting procedure would ease States’ reporting burden.  Without this procedure, future report submissions could be delayed, they said.  Other speakers, however, said that there were disadvantages to the simplified procedure, expressing support for the regular reporting procedure.  One speaker said that efforts to simplify reporting procedures needed to be balanced with efforts to establish a predictable reporting calendar.

    One speaker expressed concern regarding unilateral coercive measures and human rights violations against migrants, including their illegal deportation to other States.  Another speaker raised the issue of trans-Atlantic slavery, expressing support for a new United Nations instrument on the rights of people of African descent.

    Statements and Responses by Committee Experts

    MICHAL BALCERZAK, Committee Chair, thanked States for the proposals they had put forward.  He said that the Committee offered the possibility of hybrid dialogues, which were not currently shortened compared to regular dialogues.  The Committee regretted that it did not have the possibility to hold hybrid meetings with other stakeholders.

    The simplified reporting procedure was a crucial issue.  There was a problem with this procedure in that it was not, in fact, simple from the perspective of the Committee and its secretariat.  If the Committee had more capacity to prepare lists of issues prior to reporting, it would have done so.

    The Chair encouraged States parties to engage in events to commemorate the sixtieth anniversary of the Convention, information on which was available online.  He also called for further dialogue between the Committee and regional bodies.

    NOUREDDIN AMIR, Committee Expert, said that Committee Experts were elected by States every two years on a rolling basis.  They sought to achieve States’ aspirations to better fulfil their human rights obligations. The Committee was committed to combatting racism and injustice, which was everywhere.  It needed to promote discussions between belligerents in the wars that were currently raging.  Women and children were being killed in Palestine.  States needed to take responsibility for these issues, stop criminals, and seek justice for those whose voices were not heard.  The International Court of Justice needed to be able to condemn States that carried out forbidden acts against international law.

    STAMATIA STAVRINAKI, Committee Expert, said that the Committee’s individual communications procedure had not yet reached its full potential, as around one-third of States parties to the Convention had not accepted the procedure.  Last year, the Committee adopted decisions on 48 complaints and found violations in 27 of them.  The Committee advocated for this procedure, which created an opportunity to remedy harms caused by racial discrimination and to prevent future violations.  States parties could deploy junior professionals to support the Working Group on individual communications.  The Committee invited States to accept the individual communications procedure, which would reenforce their efforts to combat racial discrimination effectively.

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert, said that the Committee had strengthened its relationship with regional human rights mechanisms, contacting relevant regional bodies regarding their assessment of follow-up efforts to the Committee’s concluding observations.  The concluding observations contained recommendations for improving the implementation of the Convention, which were to be implemented within one year. States parties were required to submit follow-up reports on the implementation of these recommendations, but only one-third of States parties submitted reports, which often did not demonstrate sufficient implementation of the recommendations.  The Committee called on all States to submit these reports.

    VERENE ALBERTHA SHEPHERD, Committee Vice-Chair, expressed pleasure that several States parties from the Group of Latin America and the Caribbean region were attending the meeting. She was the only Expert on the Committee from this region.  She called on these States to promote the appointment of more Experts from the region. It was regrettable that some countries had difficulty in using hybrid tools offered for participation in dialogue, and that some non-governmental organizations could not attend meetings with the Committee.  The Committee would address these issues.

    Ms. Shepherd said that a second International Decade for People of African Descent had been established by the General Assembly.  She called on all States to participate in commemorations of the Decade.  The Committee used an intersectional lens when addressing racial discrimination to address issues such as gender.  In closing, she called on States to financially support the Committee to address its liquidity crisis.

    GAY MCDOUGALL, Committee Vice-Chair, said that the Committee had issued general recommendation 25 on gender, in which it committed to taking an intersectional approach to gender.  The Committee was also committed to assessing the relationship between racial discrimination and economic marginalisation. It was assessing opportunities for decent work for ethnic minorities, as well as access to education and other social services.

    The Committee was concerned by its shrinking resources and capacity to do its work.  It was in the worst situation of any treaty body in terms of resources.  Although it had one of the most ratified treaties, the Committee received among the lowest number of reports.  Why was this?

    RÉGINE ESSENEME, Committee Vice-Chair, said the legal basis for the presentation of reports was article nine, paragraph one of the Convention.  The purpose of the simplified reporting procedure was to encourage States to submit reports.  However, it had not led to an increase in the number of reports that the Committee received. The Committee was affected by a lack of human and financial resources.  The simplified reporting procedure was not simple for the Committee; it was thus the exception and not the rule.  States needed to respect their reporting obligations under the Convention.

    CHINSUNG CHUNG, Committee Expert, said the Committee and all nine treaty bodies had inter-State communications procedures.  The Committee had received and considered three inter-State communications, and amicable solutions to two of these complaints had been found.  A third communication had been received from the State of Palestine against Israel in 2018.  The Committee had issued six recommendations in relation to this communication.  What steps could the Committee take to ensure that its recommendations would be implemented? Ms. Chung encouraged States to cooperate with the inter-State communications procedure.

    IBRAHIMA GUISSE, Committee Expert, said that the Committee had set up an early warning mechanism to prevent existing issues from becoming conflicts.  The mechanism could intervene if there was a lack of legislation or mechanisms to prevent racial discrimination, or to react to discriminatory statements or actions.  The Committee had recently adopted decisions under this procedure related to Sudan and the State of Palestine, which had been cited by the International Court of Justice.  Most conflicts in the world stemmed from racial or religious issues.  The Committee could be a major force to prevent such crises, but it needed the support of States in this regard.

    BAKARI SIDIKI DIABY, Committee Expert, commended the efforts of States parties to engage in dialogue with the Committee.  Some States had not come before the Committee for more than 20 years.  The simplified procedure was set up to assist such States. The Committee also had the power to examine States parties in the absence of a report if necessary and it had done so in the past.  It called on all States to help victims protected by the Convention and to engage in dialogue with the Committee.  States also needed to cooperate with civil society in preparation for dialogues. Some members of civil society who had cooperated with the Committee had been subjected to reprisals; the United Nations had no tolerance for this.

    PELA BOKER-WILSON, Committee Expert, said that reviews of some States parties showed a lack of collection of disaggregated data that allowed for a comparison of population groups. This entailed moving away from traditional data collection practices.  States parties were encouraged to collect data on sex, age, ethnicity, migration status, disability, religion and other distinctions.

    GÜN KUT, Committee Expert, thanked representatives of States parties for engaging with the Committee and expressing support for the Committee’s work.  The Committee was sensitive to States’ questions, demands and criticisms.  The success of the Committee depended on States parties’ will and contributions. The Committee needed regularity in the submission of reports and sufficient follow-up to the Committee’s recommendations, including through follow-up and periodic reports.  The Committee sought to improve its work, but this depended on securing sufficient meeting time and support for the Committee’s secretariat.  States needed to commit to sending reports on time and supporting the financial situation of treaty bodies.

    MAZALO TEBIE, Committee Expert, called on States to support the functioning of the Committee.

    YEUNG KAM JOHN YEUNG SIK YUEN, Committee Expert, said many States parties had not taken steps to criminalise hate speech.  Was this done deliberately to protect politicians?  When the Committee issued a decision on an individual communication, it left it to States parties involved to implement it.  The Committee took up implementation of these decisions in dialogues with States parties.

    Closing Remarks

    MICHAL BALCERZAK, Committee Chair, thanked States parties for attending the meeting.  The Committee would do its best to address the issues raised in the dialogue.  It would work efficiently with States and ensure that it did not disappoint victims of racial discrimination.  The Chair called on States to encourage the commemoration of the sixtieth anniversary of the Convention across the world.  The Committee looked forward to further engagement with States in future.

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    CERD25.003E

    MIL OSI United Nations News

  • MIL-OSI USA: Three Members of an International Money Laundering Organization Charged with Laundering Millions of Dollars in Drug Proceeds

    Source: US State of Vermont

    A federal grand jury in Florence, South Carolina, returned an indictment on April 22, charging Nasir Ullah, 28, and Naim Ullah, 32, both of Sumter, South Carolina, and Puquan Huang, 49, of Buford, Georgia, with conspiring to launder millions of dollars of proceeds derived from drug trafficking.

    “As alleged in the indictment, the defendants laundered tens of millions of dollars in drug proceeds from the United States through China and the Middle East, enabling a continuous flow of fentanyl and other dangerous drugs into our country from Mexico,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Dismantling transnational criminal organizations and Chinese Money Laundering Organizations that support them is a critical priority for the Department. Alongside DEA and our local law enforcement partners, we will continue to prosecute the financial networks that fuel illegal drug trade and profit from the sale of deadly substances.”

    “We are committed to dismantling criminal organizations that seek to profit through the distribution of dangerous drugs like cocaine and fentanyl across South Carolina and beyond,” said Acting U.S. Attorney Brook B. Andrews for the District of South Carolina. “This $30 million money laundering operation, which has international ties, was conducted in multiple communities in our state. We will continue to work tirelessly with our law enforcement partners to trace these illicit funds, disrupt these networks, and hold those involved accountable for the harm they present.”

    “Cases like this exemplify the value of partnerships,” said Acting Special Agent in Charge Jae W. Chung of the DEA Atlanta Division. “The volume of dangerous drugs, including deadly fentanyl, impacts our communities beyond comprehension. This investigation and subsequent arrests demonstrate DEA’s commitment to protecting our community by destroying these drug trafficking and money laundering organizations.”

    According to court documents, unsealed today, Ullah, Naim Ullah, and Huang allegedly worked for a money laundering organization that laundered at least $30 million in proceeds related to the distribution of illegal drugs, including cocaine and fentanyl, which were unlawfully imported into the United States, typically through Mexico. Ullah, Naim Ullah, Huang, and their co-conspirators allegedly traveled throughout the United States to collect drug proceeds. They communicated with co-conspirators in China to arrange for the laundering of these proceeds through transactions designed to conceal the illegal source of the proceeds, including disguising the source of the drug proceeds by moving money through the shipment of electronic goods to China and the Middle East.

    Ullah, Naim Ullah, and Huang are charged with conspiracy to commit money laundering. If convicted, they each face a maximum penalty of 20 years in prison.

    The DEA’s Charleston, South Carolina Resident Office is investigating the case, with assistance from the DEA’s Special Operations Division, Bilateral Investigations Unit; DEA’s Office of Special Intelligence, Document and Media Exploitation Unit; DEA’s offices in Columbia, South Carolina and Atlanta; the FBI’s offices in Charleston and Columbia, South Carolina; the U.S. Air Force, Office of Special Investigations; the South Carolina Law Enforcement Division; the Sumter County Sheriff’s Office; the South Carolina Highway Patrol; the Fort Mill Police Department; the York County Sheriff’s Office; the North Charleston Police Department; the Mount Pleasant Police Department; and the Richland County Sheriff’s Department.

    Trial Attorneys Mary K. Daly and Jasmin Salehi Fashami of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorney Everett E. McMillian for the District of South Carolina are prosecuting the case.

    The Third and Fifth Judicial Circuit Solicitor’s Offices of South Carolina provided assistance in this case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News

  • MIL-OSI Economics: GlobalData highlights implications of US tariffs on IVD market

    Source: GlobalData

    GlobalData highlights implications of US tariffs on IVD market

    Posted in Medical Devices

    On April 2, the Trump administration announced tariffs on most US trading partners, including 125% on China, 31% on Switzerland, and 20% on the EU. Days later, Trump announced a 90-day pause on some tariffs, but a 10% baseline tariff remains. These tariffs are expected to impact all 510(k)-approved medical devices manufactured outside of the US (OUS). Thus, companies with OUS manufacturing will be affected by tariffs, while companies that exclusively manufacture in the US will not be impacted.  Therefore, to remain competitive in the US market, IVD manufacturers may need to absorb increased costs from tariffs or move manufacturing to the US, says GlobalData, a leading data and analytics company.

    Selena Yu, Senior Medical Analyst at GlobalData, comments: “Many IVD test kits have different components like primers, DNA probes, quality control reagents, tubes, and cartridges, that may be manufactured in other facilities in the US or OUS. Therefore, to remain competitive in the US market, IVD companies need to offset increased costs from tariffs. IVD companies that manufacture most of their tests in the US have an opportunity to increase their market share, as their products will remain unaffected by the tariffs.

    “Importantly, the goal is to improve patient care and patient outcomes. It’s unclear whether tariffs will affect product quality. This is because moving facilities, cutting potential costs added on by tariffs, etc., can lead to a decrease in product quality.”

    For example, according to GlobalData’s Sexual Health Tests SKU Tracker, the top-performing chlamydia and gonorrhea (CT/NG) dual tests in the US, based on sales volume, are Roche’s Cobas CT/NG test (44.3%) and Hologic’s Aptima Combo 2 assay (42.4%). Based on GlobalData’s MedSource Database, a database on the medical device supply chain, the Aptima test is exclusively manufactured in the US, whereas the Cobas test is partially manufactured OUS. Thus, the Hologic test is more “tariff-proof”.

    Yu continues: “There are numerous approaches for hospitals and manufacturers to take when looking at the impact of tariffs on the IVD market. There may be a shift towards the US-manufactured tests due to public sentiments about using more “American-grown” products. Alternatively, hospitals may continue to use the same products despite increased test costs due to tariffs.

    “The average selling price (ASP) of the Roche Cobas test is $3.41, while the Hologic Aptima assay is $9.32. This still allows for the Roche Cobas test to be at a competitive price in the market despite predicted price hikes due to tariffs. Another competitor, Cepheid XPERT CT/NG, has an ASP of $16.25 and is partially manufactured OUS; thus, the test is more at risk of losing market share due to tariffs.”

    The goal of high-quality, accessible testing for patients is a side thought in the tariffs in healthcare conversation. Currently, it is unclear whether tariffs will affect care quality. Various factors, including moving facilities and cutting potential costs added on by tariffs, can lead to a decrease in product quality. Additionally, this may create a barrier to entry for innovative OUS-manufactured IVD tests to enter the US market.

    Yu concludes: “The desire and necessity for a healthy population is a universal priority shared across the globe. Tariffs on diagnostic, screening, and monitoring tests can lead to patients not accessing care quickly enough if existing tests become scarce, unavailable, or too expensive in the US.”

    MIL OSI Economics

  • MIL-OSI Banking: EU initiates appeal arbitration in intellectual property dispute, discloses panel report

    Source: WTO

    Headline: EU initiates appeal arbitration in intellectual property dispute, discloses panel report

    This is the second arbitration proceeding based on the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) to which both China and the EU are participants.
    On 4 July 2023, China and the EU notified the WTO Dispute Settlement Body (DSB) that they had agreed on procedures for “arbitration under Article 25 of the DSU to decide any appeal from any final panel report” as issued to the parties in dispute DS611, which the EU had initiated on 18 February 2022.
    The panel report was issued to the parties on a confidential basis on 21 February 2025. At the EU’s request on 31 March — which under the agreed procedures is deemed as a joint request from both parties — the dispute panel in this proceeding suspended its work. It did not, therefore, circulate its final report to all WTO members.
    The EU has since then included the full text of the panel report in its Notice of Appeal, as provided for in the parties’ agreed arbitration procedures.   The Notice of Appeal and panel report is available here.
    Summary of key findings of report
    DS611: China – Enforcement of intellectual property rights
    Download
    Just the findings and conclusions of the report in pdf format
    In pdf format:

    Share

    MIL OSI Global Banks

  • MIL-OSI Europe: Answer to a written question – Inquiry into the Chinese Government’s role in financing and running DeepSeek, and in applying censorship – E-000394/2025(ASW)

    Source: European Parliament

    The Commission monitors developments related to potential distortions in the Single Market to ensure its integrity, protect investors, and maintain a level playing field for all businesses.

    Regarding China, the Commission is indeed concerned about broad ranging distortions in the economy as documented in the Commission Staff Working Document of 10 April 2024[1].

    The Digital Services Act[2] (DSA) protects freedom of expression and information, regulating intermediary service providers in the EU. DeepSeek models are subject to ideological censorship and is therefore in conflict with EU’s principles.

    Large Language Models (LLMs) would not by themselves constitute a separate service regulated under the DSA, but intermediary services using LLMs like DeepSeek may be regulated by the DSA, depending on their features.

    The Artificial Intelligence (AI) Act[3] covers general-purpose AI (GPAI) models, such as DeepSeek, which must provide technical documentation, with further obligations for GPAI with systemic risk. GPAI models released prior to 2 August 2025 shall comply by 2 August 2027. The Commission will continue to take a vigilant and proactive approach to address any arising issues.

    The AI Continent Action Plan addresses supply and demand aspects to position the EU as a leader of AI development and take-up, which is critical to ensure EU competitiveness.

    This will leverage full deployment of AI Factories, which bring together AI-optimised supercomputers, data, and human talent. It will establish the AI Gigafactories to harness vast computational power to develop and deploy the next generation of AI models.

    The announced European AI Research Council will further support AI research, building on more than EUR 1 billion annual investment under Horizon Europe.

    • [1] https://ec.europa.eu/transparency/documents-register/detail?ref=SWD(2024)91&lang=en
    • [2] https://eur-lex.europa.eu/eli/reg/2022/2065/oj/eng
    • [3] https://eur-lex.europa.eu/eli/reg/2024/1689/oj/eng

    MIL OSI Europe News

  • MIL-OSI Security: Three Members of an International Money Laundering Organization Charged with Laundering Millions of Dollars in Drug Proceeds

    Source: Office of United States Attorneys

    WASHINGTON – A federal grand jury in Florence, South Carolina returned an indictment on Tuesday, April 22, charging Nasir Ullah, 28, and Naim Ullah, 32, both of Sumter, South Carolina, and Puquan Huang, 49, of Buford, Georgia, with conspiring to launder millions of dollars of proceeds derived from drug trafficking.

    “As alleged in the indictment, the defendants laundered tens of millions of dollars in drug proceeds from the United States through China and the Middle East, enabling a continuous flow of fentanyl and other dangerous drugs into our country from Mexico,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Dismantling transnational criminal organizations and Chinese Money Laundering Organizations that support them is a critical priority for the Department. Alongside DEA and our local law enforcement partners, we will continue to prosecute the financial networks that fuel illegal drug trade and profit from the sale of deadly substances.”

    “We are committed to dismantling criminal organizations that seek to profit through the distribution of dangerous drugs like cocaine and fentanyl across South Carolina and beyond,” said Acting U.S. Attorney Brook B. Andrews for the District of South Carolina. “This $30 million money laundering operation, which has international ties, was conducted in multiple communities in our state. We will continue to work tirelessly with our law enforcement partners to trace these illicit funds, disrupt these networks, and hold those involved accountable for the harm they present.”

    “Cases like this exemplify the value of partnerships,” said Jae W. Chung, Acting Special Agent in Charge of the DEA Atlanta Division. “The volume of dangerous drugs, including deadly fentanyl, impacts our communities beyond comprehension. This investigation and subsequent arrests demonstrate DEA’s commitment to protecting our community by destroying these drug trafficking and money laundering organizations.”

    According to court documents, unsealed today, Ullah, Ullah, and Huang allegedly worked for a money laundering organization that laundered at least $30 million in proceeds related to the distribution of illegal drugs, including cocaine and fentanyl, which were unlawfully imported into the United States, typically through Mexico. Ullah, Ullah, Huang, and their co-conspirators allegedly traveled throughout the United States to collect drug proceeds. They communicated with co-conspirators in China to arrange for the laundering of these proceeds through transactions designed to conceal the illegal source of the proceeds, including disguising the source of the drug proceeds by moving money through the shipment of electronic goods to China and the Middle East.

    Ullah, Ullah, and Huang are charged with conspiracy to commit money laundering. If convicted, they each face a maximum penalty of 20 years in prison.

    The DEA’s Charleston, South Carolina Resident Office is investigating the case, with assistance from the DEA’s Special Operations Division, Bilateral Investigations Unit; DEA’s Office of Special Intelligence, Document and Media Exploitation Unit; DEA’s offices in Columbia, South Carolina and Atlanta, Georgia; the FBI’s offices in Charleston and Columbia, South Carolina; the U.S. Air Force, Office of Special Investigations; the South Carolina Law Enforcement Division; the Sumter County Sheriff’s Office; the South Carolina Highway Patrol; the Fort Mill Police Department; the York County Sheriff’s Office; the North Charleston Police Department; the Mount Pleasant Police Department; and the Richland County Sheriff’s Department.

    Trial Attorneys Mary K. Daly and Jasmin Salehi Fashami of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorney Everett E. McMillian for the District of South Carolina are prosecuting the case.

    The Third and Fifth Judicial Circuit Solicitor’s Offices of South Carolina provided assistance in this case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI

  • MIL-OSI Asia-Pac: Hong Kong celebrates World Intellectual Property Day 2025 (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong celebrates World Intellectual Property Day 2025  
         Addressing the reception, Mr Lam emphasised that Hong Kong is taking active steps to develop itself into an international innovation and technology centre. To achieve this goal, it is essential to ensure that the legal system offers sufficient protection to IP right as intangible assets, and regulate their use and transfer. This underscores Hong Kong’s unique advantages as the only common law jurisdiction in China under the principle of “one country, two systems”.
     
         Mr Lam pointed out that Hong Kong’s highly regarded common law system plays two important roles in IP development — serving as a dispute resolution centre and a hub for IP trading. With the rapid growth of the IP industry in both Hong Kong and the Mainland, there is increasing demand for services related to IP disputes and trading. Hong Kong’s user-friendly bilingual common law system and an abundant supply of high quality legal professionals create an ideal environment for IP trading in any form.
     
         Mr Lam said, “China has become the global technological giant and powerhouse. Hong Kong is also taking active steps to develop itself into an international innovation and technology centre. I am very confident that Hong Kong can and will play a more significant role in future in the area of IP protection and trading, which will in turn contribute to the innovation and technology development of not just Hong Kong but our country as a whole.”
     
         Echoing the theme of this year’s World IP Day, namely, “IP and music: Feel the beat of IP”, the Director of Intellectual Property, Mr David Wong, in his welcoming remarks cited music as a perfect example of how IP fuels creativity, adding that the vibrant music landscape worldwide owes much to strong copyright protection that rewards originality and entrepreneurial efforts. He stressed that the Government is committed to enhancing the copyright law to encourage creativity and support innovation.
     
         The pursuit of artificial intelligence (AI) development globally has prompted sea change. In order to enhance the Copyright Ordinance for addressing the copyright issues arising from the rapid development of AI, the Government, having conducted a public consultation, is putting forward a legislative proposal for introducing a new text and data mining exception into the copyright law. This exception will be subject to stringent conditions to ensure a careful balance between the interests of copyright owners in exploiting their works and the public interest in supporting innovation. Importantly, the rights reservation mechanism would be paramount for protecting copyright owners’ legitimate interests.
     
         About 180 guests including the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan, the Permanent Secretary for Commerce and Economic Development, Ms Maggie Wong, stakeholders from the legal community and IP-related associations, academics, consulate representatives, government officials and representatives from the public and business sectors attended the reception.
     
         Celebrated annually on April 26, the World IP Day aims to increase general understanding of IP, pay tributes to inventors and creators, and explore how IP helps shape the world. The IPD promoted the World IP Day and related activities through various channels, including sponsoring the “Licensing Academy” workshops of the Asian Licensing Conference to offer industry players insights into new developments in IP licensing.
    Issued at HKT 21:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: InvestHK, HKETO Singapore and HKTDC jointly hold seminar in India to promote Hong Kong’s business advantages and opportunities (with photos)

    Source: Hong Kong Government special administrative region

    InvestHK, HKETO Singapore and HKTDC jointly hold seminar in India to promote Hong Kong’s business advantages and opportunities      
         During the duty visit to Mumbai and Delhi, Mr Ng had fruitful discussions with a number of large family businesses, large enterprises, family offices, business founders and entrepreneurs from across different sectors to explain the unique benefits of the “one country, two systems” framework, conveying the advantages and business and investment opportunities available to them in Hong Kong and the Guangdong–Hong Kong–Macao Greater Bay Area (GBA).
         
         The Director of Trade and Investment Promotion, World Trade Center Mumbai, Ms Priya Pansare, said, “At World Trade Center Mumbai, we are delighted to explore synergies with InvestHK to foster stronger economic linkages between India and Hong Kong. This collaboration presents a valuable opportunity to bridge markets, promote cross-border investments, and enable businesses from both economies to grow through shared knowledge, innovation, and trade facilitation.”
         
         The seminar cohosted by InvestHK, the HKETO Singapore and the HKTDC in Mumbai yesterday, entitled Gateway to Growth: Exploring Business & Investment Opportunities in and via Hong Kong, brought together local senior executives, entrepreneurs, and partners to discuss the benefits of using Hong Kong as a gateway for expansion into Mainland China and across Asia. It commenced with opening remarks by the Director of the HKETO Singapore, Mr Owin Fung, and the Regional Director of South East Asia and South Asia of the HKTDC, Mr Ronald Ho, followed by a presentation on Hong Kong’s dynamic capital market and the abundant investment opportunities it offers, delivered by Mr Ng.
         
         During his opening speech, Mr Fung emphasised Hong Kong’s benefits to Indian businesses. He said, “As an international financial, trade and shipping centre, Hong Kong has long thrived under the ‘one country, two systems’ principle. This enables Hong Kong to play the pivotal role as a ‘super connector’ and a ‘super value-adder’ to facilitate Indian businesses expanding into the GBA and the Association of Southeast Asian Nations markets.”
         
         During the presentation, Mr Ng underscored Hong Kong’s status as a premier international financial and business hub, spotlighting the city’s vibrant start-up ecosystem, robust capital markets, and free flow of information, talent, and capital. He also highlighted the New Capital Investment Entrant Scheme, which offers high-net-worth individuals and their families an attractive pathway to residency in Hong Kong. Mr Ng said, “It has been a genuine privilege to engage with India’s forward-looking business community and showcase the latest developments in Hong Kong. We are keen to support more Indian companies in learning more about Hong Kong’s strategic position, robust capital markets, and diverse talent pool, enabling them to expand across Asia – and ultimately, beyond.”
    Issued at HKT 19:20

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: High-Level Meeting cum First Plenary Session of Hong Kong/Zhejiang Co-operation Conference held in Hangzhou (with photos)

    Source: Hong Kong Government special administrative region

         The Chief Executive, Mr John Lee, and the Secretary of the CPC Zhejiang Provincial Committee, Mr Wang Hao, leading the delegations of the governments of the Hong Kong Special Administrative Region (HKSAR) and Zhejiang respectively, held the High-Level Meeting cum the First Plenary Session of the Hong Kong/Zhejiang Co-operation Conference (the meeting-cum-plenary) in Hangzhou, Zhejiang, today (April 24). Both sides witnessed the establishment of the Hong Kong/Zhejiang Co-operation Conference Mechanism, symbolising a new stage of all-round exchanges and co-operation between the two places. The Executive Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Zhou Ji, also attended the meeting-cum-plenary.

         Officials of the HKSAR Government that attended the meeting-cum-plenary included the Chief Secretary for Administration, Mr Chan Kwok-ki; the Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai; the Secretary for Commerce and Economic Development, Mr Algernon Yau; the Secretary for Housing, Ms Winnie Ho; the Secretary for Innovation, Technology and Industry, Professor Sun Dong; the Secretary for Home and Youth Affairs, Miss Alice Mak; and the Director of the Chief Executive’s Office, Ms Carol Yip.

         Hong Kong and Zhejiang reached a consensus on the following 13 co-operation areas at the meeting-cum-plenary:

    Joint pursuit of the Belt and Road development and business investment
    ———————————————————————-

         Strengthen co-operation on the Belt and Road Initiative between the two places. Encourage Zhejiang enterprises to actively participate in the Belt and Road Summit held in Hong Kong. Encourage Zhejiang enterprises to actively participate in relevant exchange and interface sessions organised by relevant authorities in Hong Kong.
     
         Promote the co-operation between Hong Kong and Zhejiang in the field of professional services. Support the introduction of Hong Kong management consulting, accounting, design, legal and dispute resolution service agencies.
     
         Continue to actively promote collaboration and exchanges on intellectual property between the two places through publicity initiatives and seminars.
     
    Finance
    ———-

         Support Zhejiang Province in collaborating with the Hong Kong Exchanges and Clearing Limited and relevant securities institutions to organise and conduct business training to address enterprises’ inquiries regarding listing in Hong Kong.

         Encourage enterprises in Zhejiang Province and financial institutions in Hong Kong to engage in exchanges and co-operation.

    Innovation and technology
    ——————————

         Jointly promote co-operation in technology research and development between Hong Kong and Zhejiang. Support higher education institutions, research institutes and enterprises in Hong Kong and Zhejiang to jointly launch research initiatives to achieve breakthroughs in core technologies in key fields, develop strategic emerging industries, and foster the development of future industries.

         Actively establish a two-way sci-tech financial investment and financing channel, and actively support Zhejiang’s high-tech enterprises in listing and raising funds, issuing local and foreign currency bonds in Hong Kong, etc.

         Encourage and support technology entities in Hong Kong and Zhejiang to take the lead in the establishment of technology co-operation platforms, and set up research and development centres, etc.

    Aviation
    ———-

         Increase the frequency of flights between Hong Kong and the three airports in Hangzhou, Ningbo and Wenzhou in accordance with the market situation.

         Enhance the exchange of advanced airport management experience between airport personnel in Hong Kong and Zhejiang.
     
    Legal and dispute resolution
    ——————————

         Continue to proactively support law firms of the two places to establish partnership associations and set up branches in each other’s places.

         Promote co-operation between the arbitral institutions of the two places in the arbitration of civil and commercial disputes in the areas of international trade, investment, maritime commerce, etc.

         Support and promote the expansion of exchange platforms for legal, arbitration, mediation, and other professional services between the two places.

    Cultural exchange and tourism
    ——————————

         Strengthen cultural and tourism exchanges between the two places.

         Strengthen the exchanges and collaboration between the museums and arts and cultural institutions of Hong Kong and Zhejiang, and jointly organise international exhibitions.

    Education
    ———-

         Promote the development of the Zhejiang-Hong Kong Vocational Education Alliance. Effectively carry out visits to Zhejiang for Mainland study tours of the senior secondary subject of Citizenship and Social Development and Mainland study tours for teachers.

         Facilitate more schools in the two places in forming sister school pairs for conducting exchange activities in diverse forms.

         Encourage higher education institutions in Zhejiang Province to further deepen co-operation with higher education institutions in Hong Kong and carry out various forms of collaborative projects, such as joint scientific research, academic seminars, and teacher-student exchanges.

    Youth development
    ——————–

         Actively explore the introduction of a quality internship programme in Zhejiang under the Thematic Youth Internship Programmes to the Mainland.
     
        Support Hong Kong youths to participate in short-term experiential programmes at innovation and entrepreneurial bases in Zhejiang.
     
         Encourage and support Hong Kong youth entrepreneurial teams funded under the Youth Development Fund of the Government of the HKSAR to expand their businesses to Zhejiang.
     
    Health and Chinese medicine
    ——————————

         Strengthen exchanges and co-operation between the two sides in areas such as clinical talents, primary healthcare and hospital management.

         Support Hong Kong service providers to develop Hong Kong-Zhejiang joint ventures, co-operative medical institutions and wholly owned medical institutions in accordance with the law.

         Expedite academic and talent exchanges in Chinese medicine between the two places, and strengthen co-operation in the area of international standardisation of Chinese medicine.

    Environmental protection
    ——————————

         Promote the implementation of the co-operation agreement signed between the Radiation Monitoring Technical Center of the Ministry of Ecology and Environment and the Hong Kong Observatory. Support technical staff of both sides in conducting regular technical discussions.

         Strengthen technical exchanges and co-operation in the field of carbon monitoring.

         Strengthen exchanges and discussions between Hong Kong and Zhejiang in areas such as environmental protection-related industry and technological innovation.

    Housing
    ———-

         The two parties will engage in collaborative exchanges encompassing innovative housing technologies, intelligent construction, resource conservation, as well as low-carbon and emission-reduction initiatives.

         The two parties will strengthen collaboration in innovative housing technologies, smart estate management, and the development of harmonious communities through reciprocal visits and professional training exchanges.

    Talent and civil service exchange
    ——————————

         Strengthen communication and connections with renowned schools in Hong Kong.
     
         Continue to promote and deepen exchanges between civil servants from both sides, and launch a new round of the exchange programme under the guidance of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee.

    Facilitation measures for Hong Kong people on the Mainland
    ————————————————————

         Fully implement the policies and measures introduced by the relevant Central Government departments to facilitate the development of Hong Kong and Macao residents on the Mainland, and facilitate Hong Kong people studying, working and living in Zhejiang.

         Explore the expansion of the scope of application of the Mainland Travel Permits for Hong Kong and Macao Residents in various government and public services in Zhejiang.

    Co-operation memorandum signing ceremony
    —————————————-

         At the meeting-cum-plenary, the Chief Secretary for Administration, Mr Chan Kwok-ki, and Vice Governor of the Zhejiang Provincial People’s Government Mr Lu Shan, signed the “Hong Kong/Zhejiang Co-operation Conference Mechanism” and the “Co-operation Memorandum of the High-Level Meeting cum First Plenary Session of the Hong Kong/Zhejiang Co-operation Conference”. The documents (Chinese only) are in Annex 1 and Annex 2.

         In addition, four co-operation agreements were signed by government departments and statutory bodies of the two places:

    (i) Memorandum of Understanding on Enhancing Zhejiang/Hong Kong Innovation and Technology Co-operation;
    (ii) Letter of Intent on Strengthening Exchanges and Co-operation in Innovative Housing Technologies, Smart Estate Management and Well-being Community;
    (iii) Memorandum of Understanding on Promoting High-Quality Economic and Trade Co-operation; and
    (iv) Memorandum of Understanding on Jointly Promoting Youth Development Co-operation.

         The co-operation agreements (i), (ii) and (iv) signed by the government departments of the two places (Chinese only) are in Annexes 3 to 5.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Bilirakis, Carter and Tenney Launch American-Made Medicines Caucus

    Source: United States House of Representatives – Representative Gus Bilirakis (FL-12)

    WASHINGTON, D.C. – Representatives Gus Bilirakis (R-FL), Earl L. “Buddy” Carter (R-GA) and (R-NY) today launched the American-Made Medicines Caucus, a group focused on promoting policies to onshore and friendshore pharmaceutical manufacturing, strengthen economic and national security interests and reduce America’s reliance on adversarial countries for essential medications.  Currently, the United States imports 90% of all generic drugs and ran a $127 billion trade deficit in pharmaceuticals in 2024. 

    With our overwhelming reliance on Chinese pharmaceutical products and ingredients, it’s imperative that we find ways to increase domestic manufacturing capacity and preserve consumer access to these important and lifesaving products,” Congressman Bilirakis said. Public health and wellness should not depend on our foreign adversaries and I look forward to finding ways to address this threat through the Caucus.”

    China determines whether we have the pharmaceutical products we need in the United States to keep our citizens healthy. That is a terrifying reality, one we must address before the next public health crisis. As a pharmacist, I’m launching the American-Made Medicines Caucus with the singular focus of bringing this critical supply chain home, so that we can strengthen our national security, create jobs, and Make America Healthy Again,” said Rep. Carter. 

    “We must continue to support and encourage domestic pharmaceutical medicine production in our country, strengthen our supply chains, reduce our reliance on foreign suppliers, and reinforce our pharmaceutical security. I am eager to join Congressman Carter and Congressman Bilirakis in launching the American-Made Medicines Caucus to focus on creating legislative solutions to improve the domestic production of life-saving medications and antibiotics,” said Congresswoman Tenney.

    MIL OSI USA News