NewzIntel.com

Category: Commerce

  • MIL-OSI China: Sinologist calls for ‘new golden age’ in China-EU relations at CEIBS speech

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

    David Gosset, founder of the China-Europe-America Global Initiative, delivers a keynote speech at China Europe International Business School (CEIBS) in Shanghai on EU-China relations on June 8, 2025. [Photo courtesy of China-Europe-America Global Initiative]

    David Gosset, founder of the China-Europe-America Global Initiative, delivered a keynote speech at the China Europe International Business School (CEIBS) in Shanghai on June 8, urging China and Europe to join forces in creating a “new golden age for humanity.” His address came at a crucial time, ahead of a high-level EU-China summit to be held in Beijing next month.

    During his speech, Gosset emphasized that the long-standing relationship between the European Union and China has global significance and untapped potential. “Since the establishment of diplomatic relations in 1975, the European Union and China have made remarkable progress,” he noted, highlighting achievements in trade, education and cultural exchange. “But today, we find ourselves at a crossroads.”

    Against a backdrop of rising geopolitical tensions and global uncertainty, Gosset rejected narratives of deglobalization and confrontation. Instead, he advocated for a renewed ambition grounded in cooperation, mutual respect and shared responsibility. China and Europe must present a compelling alternative to the zero-sum mindset that is fragmenting the world, he said, criticizing unilateralism and hegemonic instincts in global affairs — particularly from the United States.

    Citing remarks by U.S. Defense Secretary Pete Hegseth at the 2025 Shangri-La Dialogue, Gosset warned of the risks posed by misrepresenting China as a military threat. He called for China and Europe to exercise “genuine leadership,” including in reforming multilateral institutions and advancing ecological civilization.

    Gosset proposed strengthening ties through deeper economic, technological and cultural cooperation. He also called for a more ambitious version of the Erasmus student exchange program between China and Europe, enhanced collaboration in quantum technologies and space, and joint efforts to support the Global South. “True security,” he argued, “comes from social cohesion, economic opportunity and environmental sustainability — not military power.”

    As the China-EU Summit approaches, Gosset urged both sides to move beyond managing differences and toward crafting a strategic partnership fit for the 21st century. “Let this be the dawn of a new golden age — for Europe, for China and for all of humanity,” he concluded.

    MIL OSI China News –

  • MIL-OSI Europe: OSCE organizes study trip to Finland for representatives of the Graduate School of Business and Entrepreneurship

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE organizes study trip to Finland for representatives of the Graduate School of Business and Entrepreneurship

    Meeting at the Helsinki Region Chamber of Commerce (OSCE) Photo details

    From 2 to 6 June, the OSCE Project Co-ordinator in Uzbekistan (PCUz) organized a study visit to Finland for a delegation from the Graduate School of Business and Entrepreneurship under the Cabinet of Ministers of Uzbekistan. The visit aimed at deepening institutional knowledge on sustainable development, green economy policies and educational innovation.
    The programme included a series of meetings with Finnish governmental bodies, educational institutions and business associations to explore Finland’s successful integration of sustainability into governance, education and entrepreneurship.
    During the visit, the Uzbek delegation met with key Finnish institutions including the Finnish Institute of Public Management (HAUS), the Finnish Association of Entrepreneurs, Aalto and Metropolia universities and the Helsinki Region Chamber of Commerce, amongst other partners.
    Discussions focused on integrating sustainability into public administration, supporting green entrepreneurship and embedding green economy principles into education and training.
    The programme also featured site visits to the city of Lahti, highlighting Finland’s circular economy and waste management practices, offering practical insights into how government, academia and the private sector collaborate to promote sustainable development.
    The study trip is a continuation of the PCUz’s support of Uzbekistan’s green transition and ongoing collaboration with the Graduate School of Business and Entrepreneurship in improving its curriculum and best practices.

    MIL OSI Europe News –

  • MIL-OSI New Zealand: New Tourism Growth Roadmap

    Source: Ministry of Business Innovation and Employment (MBIE)

    This includes investing more than $19 million in international marketing across core and emerging tourism markets plus $8 million on attracting business and major events to New Zealand.

    The Government is also investing $4 million towards improving the visitor experience along the Milford Road corridor.

    This is the first stage of the Tourism Growth Roadmap, which sets out steps the Government is taking to grow the value of tourism, which is currently New Zealand’s second largest export. As visitor numbers increase, the Roadmap will shift over time to focus more on the supply side of tourism to support this growth.

    Funding comes from the International Visitor Conservation and Tourism Levy (IVL).

    Find out more on the MBIE website:

    Tourism Growth Roadmap

    Read the Minister’s release:

    More funding to grow international tourism(external link) — Beehive.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: More funding to grow international tourism

    Source: New Zealand Government

    The Government is increasing funding for attracting overseas visitors and investing in tourism infrastructure as part of its new Tourism Growth Roadmap, Tourism and Hospitality Minister Louise Upston says.
    “We’re investing $35 million to deliver the first stage of the Roadmap, which sets out the Government’s plan to double the value of tourism,” Louise Upston says.
    “International visitors bring billions of dollars into New Zealand, from big ticket spends to everyday purchases in local cafes and accommodation. 
    “We want to welcome more visitors to New Zealand, and we want our regional communities to improve their capacity to look after those visitors.
    “The Government must work with industry to unlock the full potential of our tourism sector, and the Roadmap lays out initiatives and investments to ensure our infrastructure, workforce and communities can support further growth.
    “For the 2025/26 financial year, we’re investing $6 million in international marketing across emerging tourism markets, $3 million to increase the number of business events hosted in New Zealand, and an additional $5 million towards the Major Events Fund.
    “These commitments follow the recent announcements of $13.5 million invested in international tourism marketing and $4 million of investment towards improving the visitor experience along the Milford Road corridor.
    “Recent tourism funding has been about boosting visitor numbers. As those higher numbers become established, the Roadmap will shift over time to focus more on supporting communities to look after them well,” Louise Upston says. 
    This investment comes from the International Visitor Conservation and Tourism Levy. This levy is charged to most international visitors, and ensures they are contributing to the public services, facilities and natural environment they will enjoy while in New Zealand.
    More information can be found on the MBIE website.
    Notes to editor: 
    The Tourism Growth Roadmap is attached as a separate document.
    New tourism investments for the 2025/26 financial year include:

    $6 million in Tourism New Zealand’s marketing in the emerging markets of India and Southeast Asia,
    $3 million to increase the number of business events hosted in New Zealand, as part of Tourism New Zealand’s collaboration with Business Events Industry Aotearoa,
    An additional $5 million towards the Major Events Fund,
    $13.5 million in Tourism New Zealand’s marketing in core markets of Australia, the United States and China,
    $4 million towards a wider package of work to improve visitor experiences and reduce congestion along the Milford Road corridor. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Tourism Growth Roadmap speech to Business Events Industry Aotearoa (BEIA)

    Source: New Zealand Government

    Tēnā koutou katoa. Thank you for the warm welcome. It is my pleasure to welcome you all to MEETINGS 2025.

    First, I would like to acknowledge Mayor Wayne Brown attending MEETINGS 2025 today and a special acknowledgment to Ngāti Whatua Orakei for their pōwhiri and welcome. 

    I would also like to recognise Tataki Auckland Unlimited and in particular the Auckland Convention Bureau for their dedication and hard work advocating for Auckland as a world-class visitor destination.

    Last but not the least, I’d like to extend a heartfelt thank you to some incredible individuals who make events like this possible, a huge thank you again to BEIA Chief Executive Lisa Hopkins and Board Chair Martin Snedden.

    Your leadership across the business events in New Zealand and creating such vibrant and energetic gatherings like MEETINGS 2025 are truly appreciated and make a difference to New Zealand.

    To our local and international buyers, exhibitors and media – thank you for making the journey from around the world to join us in Auckland. 

    Events like MEETINGS are so important for bringing incredible opportunities to our regions, building valuable connections with our offshore markets and strengthening our business events sector.

    There is no doubt that New Zealand’s business events industry is on the rise – and that’s thanks to the fantastic organisations and individuals like you in this room today. 

    You are the driving force behind a growing pipeline of high-value deals across sectors. These opportunities are helping boost productivity, support local communities, and grow our regions.

    Together, we are putting New Zealand as a top place to do business – and the conversations and connections you make over the next few days will help us even further.

    Events like this are a powerful reminder of what it takes to deliver world-class experiences – whether its state-of-the-art venues, exceptional food and catering, smooth logistics, or engaging content. 

    Beyond their direct economic benefits, business events connect us, foster new ideas and drive innovation across industries. I want to acknowledge the vital role you all play – not just as the professionals of tourism and hospitality, but as ambassadors of New Zealand.

    Your commitment lay the foundation for successful events and help position our country as a world leader in the excellence we are known for.

    Increasing tourism and creating a strong economy is a key focus for the next few years, and the economic contribution of the business events sector is a critical element to success. 

    Business events punch well above their weight in attracting high-value international conferences to our regions and main centres throughout the year, and MEETINGS is a prime example of this. 

    I hope you enjoy your Auckland experience and participate in the amazing visitor experience while you are here. 

    As Minister for Tourism and Hospitality, I have two priorities for the portfolio. 

    My first priority is to grow international tourism by both increasing the number of international visitors to New Zealand in the short term, and doubling the value of tourism exports by 2034.

    My second priority is to grow the number of Kiwis in tourism and hospitality jobs which will further support our wider economic growth objectives.

    Our business events sector plays a huge role in showcasing New Zealand as a progressive, entrepreneurial destination and will play a significant role in achieving our goal of doubling tourism exports. 

    Business event participants spend an average of $175 more per day than other visitors, and importantly, often visit in the off-peak period between March and November, boosting tourism and economic activity year-round. This is exactly why we are making positive changes to support its growth.

    In April, alongside the Minister of Health and the Minister for Regulation, I was thrilled to announce a change to the Medicines Act. The change will allow for medicines to be advertised that have not yet been consented by Medsafe at medical conferences in New Zealand. 

    This shift removes a long-standing barrier and opens the door to hosting more international medical conferences and trade shows, unlocking an estimated $90 million in future revenue. 

    On top of that, we’re continuously working to attract high-value incentive business to New Zealand. It’s all part of our effort to make our country a go-to place for significant business events.

    As part of my Tourism Boost package, I provided $3 million to Tourism New Zealand to make an additional 15-20 bids for business events in 2026 and beyond through its existing Conference Assistance Programme. 

    This investment has already supported Tourism New Zealand to win three bids valued at $7.5 million.

    Our message is clear, New Zealand is open for business. We are looking forward to welcoming more business events and conferences to New Zealand and hosting them in our great facilities.

    Tourism is our second largest export earner and a crucial component of our workforce, and we cannot understate the benefits it provides to our country.

    We’re committed to continue growing the sector, which is why today, I am announcing the launch of the Tourism Growth Roadmap. The Roadmap follows my recent Tourism Boost package and is the second step towards doubling our tourism export value by 2034.

    The final Roadmap has been carefully developed based on the conversations I have had with industry leaders since taking over the portfolio and reflects what I’ve heard is important to you. 

    The first package of investment will continue to prioritise increasing international visitor volumes, with around 80 per cent of the investment going towards demand initiatives and 20 per cent towards supply initiatives.

    I am also announcing a $35 million investment from the International Visitor Conservation and Tourism Levy to deliver the first stage of the Roadmap.

    Yesterday, the Prime Minister and I announced $13.5 million in new funding to Tourism New Zealand to uplift marketing activity in our core markets of Australia, the United States and China. 

    This investment is expected to generate around $300 million in spending and deliver an extra 72,000 international visitors to our shores.

    These are big numbers, but this is only part of the full $35 million package we’re unveiling today.

    I am also committing a further $6 million in new funding to uplift marketing activity in our emerging markets of India and Southeast Asia. 

    We know that Tourism New Zealand does an important job of marketing our country internationally, acting as the primary influence for approximately 14 per cent of international holiday visitors. I expect these investments to result in almost $360 million in incremental visitor spend in the economy.

    As I have been saying today, I see the business events sector as an incredibly valuable visitor market for supporting tourism growth.

    That is why I’m thrilled to announce I am committing an additional $3 million to Tourism New Zealand to boost business events attraction for a further year. This reinforces the important role that all of you play, and I am excited to see the positive outcomes from this investment. 

    I am also providing a $5 million boost for major events attraction. Major events drive economic benefits to New Zealand through international visitation and additional direct spend in the host region. 

    To complement these demand initiatives, I am investing in specific regional tourism infrastructure projects. 

    Last week, alongside Minister Potaka, I announced $4 million to improve visitor experiences along the Milford Road corridor. This investment is co-funded and will be delivered by the Department of Conservation.

    As you all know, Milford Sound Piopiotahi is one of our most iconic destinations and a huge drawcard for international visitors. This investment will support improved visitor experiences, infrastructure and reduced congestion. 

    We have an enormous opportunity on our hands. 

    Tourism has the potential to become our biggest export earner – we’ve done it before, and I believe we can do it again. It will take significant effort from us all, and the industry is united with shared purpose, aspirations, and enthusiasm.

    Achieving this will require action on the supply-side and I have asked my officials to begin a review of our tourism system to support this. This includes looking at issues surrounding our workforce:

    • data
    • infrastructure
    • funding
    • our regions and communities
    • aviation and cruise connectivity
    • and the overall visitor experience that we offer.

    We’re looking at what is working well and what do we need to change to ensure we are fit for the future.

    The key to our success will be working together.

    There is plenty of work to do and I am excited to continue working alongside the tourism and hospitality sector to build on the incredible foundations already in place. 

    Ladies and Gentlemen, the next few days are packed with opportunities. 

    New Zealand is open for business, and we welcome the opportunity to attract more business, exhibition and incentive travellers to New Zealand and grow our economy. Together, let’s maximise the value tourism brings to our beautiful country!

    Thank you again.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Local News – ELECTRIFY QUEENSTOWN TO RETURN IN 2026

    Source: Destination Queenstown

    Queenstown, New Zealand (10 June 2025) – Electrify Queenstown will return for a third year, following the huge success of the 2025 event which built strong momentum across the region.

    Now a cornerstone event in Queenstown’s calendar, Electrify Queenstown will take place from 17 – 19 May 2026, bringing together industry leaders, innovators, politicians and policymakers to share practical, cost-effective ways for businesses and households to electrify.

    Mat Woods, Chief Executive of Destination Queenstown and Lake Wānaka Tourism, says Electrify Queenstown is an event designed to turn ideas into action.

    “The energy this year was incredible with hundreds of people turning up to explore new and emerging technologies and future-focused solutions that not only save you money, but are good for the environment too.” he said.

    Attendees this year included local residents, visitors from around New Zealand, business owners, and change makers all eager to share the opportunities and challenges involved in a low-emissions future.

    The event featured bold announcements including plans for a low-emissions urban cable car network in Queenstown, the debut of new electric marine propulsion technology on Lake Whakatipu, and the release of Rewiring Aotearoa’s policy manifesto.

    Mike Casey, CEO of Rewiring Aotearoa, says there’s an exciting opportunity for New Zealand to lead the global energy transition, and events like Electrify Queenstown are helping educate kiwis about what’s possible.  

    “Aotearoa New Zealand is one of the few countries that has reached the electrification tipping point where it’s cheaper to electrify than use the fossil fuel alternative.

    “Whether you’re in it for the cost savings, lowering emissions, or energy security, we all win by going electric.” Mike said.

    Electrify Queenstown is proving to be a valuable platform for businesses and innovators to showcase energy-efficient solutions for homes and enterprises.  

    Sharon Fifield, CEO of Queenstown Business Chamber of Commerce, says it’s inspiring to see the momentum that’s been built since the inaugural one-day event in 2024.

    “Businesses are seeing the economic value of electrification alongside the environmental benefits, and there’s genuine enthusiasm to get involved and make a difference.” Sharon said.

    With strong interest from locals eager to lower their bills, become more energy efficient and resilient, organisers say Electrify Queenstown 2026 will again cater to everyone with even more opportunities for collaboration and innovation.

    “Each year, more people are seeing what’s possible through electrification and it’s exciting to think about what 2026 will bring.” Mat added.

    Electrify Queenstown 2026 will take place at the Queenstown Events Centre, Sunday 17 May – Tuesday 19 May 2026.

    The event supports Queenstown Lakes’ destination management plan and the broader goal of regenerative tourism and a carbon-zero visitor economy by 2030.

    MIL OSI New Zealand News –

  • MIL-OSI: AMD EPYC Processors Now Power Nokia Cloud Infrastructure for Next-Gen Telecom Networks

    Source: GlobeNewswire (MIL-OSI)

    — Nokia Cloud Platform will use 5thGen AMD EPYC CPUs for leadership performance and energy efficiency across virtualization deployments —

    SANTA CLARA, Calif., June 10, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced that Nokia has included 5th Gen AMD EPYC™ processors to power the Nokia Cloud Platform, bringing the leadership performance and performance per watt to next-generation telecom infrastructure.

    “Telecom operators are looking for infrastructure solutions that combine performance, scalability, and power efficiency to manage the growing complexity and scale of 5G networks,” said Dan McNamara, senior vice president and general manager, Server Business, AMD. “Working together with Nokia, we’re using the leadership performance and energy efficiency of the 5th Gen AMD EPYC processors to help our customers build and operate high-performance, and efficient networks.”

    “This expanded collaboration between Nokia and AMD brings a multitude of benefits and underscores Nokia’s commitment to innovation through diverse chip partnerships in 5G network infrastructure. The new 5th Gen AMD EPYC processors offer high performance and impressive energy efficiency, enabling Nokia to meet the demanding needs of its 5G customers while contributing to the industry’s sustainability goals,” said Kal De, senior vice president, Product and Engineering, Cloud and Network Services, Nokia.

    The processors will be deployed within Nokia Cloud Platform, a key component that supports containerized workloads foundational to 5G Core, edge, and enterprise applications. By integrating the AMD EPYC 9005 Series processors into Nokia Cloud Platform, Nokia will deliver impressive performance per watt—a critical factor in delivering both computing power and energy efficiency for modern telecom networks that must meet growing data demands while minimizing environmental impact.

    Supporting Resources

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.

    AMD, the AMD Arrow logo, EPYC and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

    The MIL Network –

  • India building alternative rare earth supply chain amid curbs China curbs: Piyush Goyal

    Source: Government of India

    Source: Government of India (4)

    Commerce and Industry Minister Piyush Goyal on Monday described China’s rare earth export restrictions as a global “wake-up call,” underscoring India’s efforts to build alternative supply chains and position itself as a reliable partner for international businesses seeking to reduce dependence on Chinese suppliers.

    Speaking to reporters during his official visit to Switzerland—where he met with Swiss government officials and business leaders—Goyal acknowledged that China’s export curbs would pose short-term challenges for India’s automotive and white goods sectors.

    However, he expressed confidence that collaborative efforts among the government, industry, and innovators would turn these challenges into long-term opportunities.

    The minister outlined a multi-pronged strategy to address the crisis. This includes diplomatic engagement through ongoing dialogue between the Indian embassy and Chinese authorities, as well as the commerce ministry’s push to identify alternative sources. The government is also strengthening Indian Rare Earths Limited by providing resources to accelerate domestic production.

    “This situation serves as a wake-up call for all those who have become over-reliant on certain geographies,” Goyal said. “It’s a wake-up call for the whole world—you need trusted partners in your supply chain.”

    India’s automotive industry has requested the government’s assistance in expediting the approval process for importing rare earth magnets from China—critical components used in passenger vehicles and various automotive applications.

    China currently controls over 90% of global magnet production capacity, creating substantial vulnerabilities across industries. These materials are essential to sectors ranging from automobiles and home appliances to clean energy systems.

    The new Chinese regulations, effective April 4, require special export licenses for seven rare earth elements and related magnetic products.

    “There are clearly issues around the suspension of permanent magnet supplies from China to India, which will particularly affect our auto sector and several white goods manufacturers,” Goyal explained. “Some companies have submitted their applications, and we hope pragmatic considerations will prevail, allowing them to receive the necessary approvals.”

    Asked about possible government support through production-linked incentive (PLI) schemes, Goyal shared that discussions with automotive manufacturers have been encouraging.

    The companies have expressed strong confidence in addressing supply chain challenges through partnerships with domestic innovators and startups.

    “They are actively engaging with our innovators and startups, indicating their willingness to provide funding or pricing adjustments to accelerate growth in this sector,” the minister said.

    Goyal also praised the evolving mindset of Indian industry, noting a shift away from reliance on government subsidies.

    “More and more Indian businesses are moving beyond the old belief that subsidies alone will sustain operations. They are becoming bigger and bolder in their approach,” he said.

    The minister highlighted emerging technologies being developed in India as potential alternatives to Chinese rare earth supplies.

    “There are some technologies that India is developing,” he noted, stressing the importance of the collaborative approach among government, industry, startups, and innovators. “We are all working as a team and remain confident that, while short-term challenges exist, we will emerge as winners in the medium to long term.”

    Goyal concluded by framing the current disruption as a strategic opportunity for India’s manufacturing ecosystem. He believes it will accelerate the push for self-reliance and the formation of trustworthy global supply chain partnerships.

    “There is opportunity even in this crisis,” he said. “More and more companies and people in India will realise the importance of being self-reliant and having trusted partners in supply chains. The world increasingly wants India to be a part of their supply chains, because we are seen as a trusted partner.”

    (ANI)

  • Global stocks rise, dollar tentative ahead of US-China talks outcome

    Source: Government of India

    Source: Government of India (4)

    Stocks were buoyant and the dollar remained on guard on Tuesday as trade talks between the United States and China were set to extend to a second day, with tentative signs tensions between the world’s two largest economies could be easing.
     
    U.S. President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume at 0900 GMT on Tuesday.
     
    “The fact that we’re still up here near record highs, does suggest that we are seeing the market accept what has been said by Trump and when you look at some of the other comments from Lutnick and Bessent, to me it seems to suggest that they are relatively happy with the progress,” said Tony Sycamore, a market analyst at IG.
     
    “But the market always likes to see some concrete announcements.”
     
    As Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts, much of investors’ focus has been on the progress of the talks.
     
    Any progress in the negotiations is likely to provide relief to markets given Trump’s chaotic tariffs and swings in Sino-U.S. trade ties have undermined the world’s two biggest economies and hobbled global growth.
     
    Stocks advanced in Asia, extending their rise from the start of the week.
     
    MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, while Nasdaq futures gained 0.62%. S&P 500 futures edged 0.43% higher.
     
    EUROSTOXX 50 futures and FTSE futures both added roughly 0.1% each.
     
    In Tokyo, attention was also on the Japanese government bond (JGB) market, following news that Japan is considering buying back some super-long government bonds issued in the past at low interest rates.
     
    The yield on the 10-year JGB fell one basis point to 1.46% in early trade, while the 30-year yield slid 5 bps to 2.86%.
     
    Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers such as life insurers, and jitters over steadily rising debt levels globally.
     
    “The volatility at the super-long segment of the curve stems from a supply-demand imbalance that has been brewing since the BOJ embarked on balance sheet normalisation,” said Justin Heng, APAC rates strategist at HSBC Global Investment Research.
     
    Japanese Finance Minister Katsunobu Kato said on Tuesday the government will conduct appropriate debt management policies while communicating closely with market participants.
     
    In currencies, the dollar attempted to regain its footing after falling on Monday.
     
    Against the yen, the dollar was up 0.45% to 145.25. The euro fell 0.28% to $1.1387 while sterling slipped 0.2% to $1.3523.
     
    Trump’s erratic trade policies and worries over Washington’s growing debt pile have dented investor confidence in U.S. assets, in turn undermining the dollar, which has already fallen more than 8% for the year.
     
    The next test for the greenback will be on Wednesday, when U.S. inflation data comes due. Expectations are for core consumer prices to have picked up slightly in May, which could push back against bets of imminent Federal Reserve rate cuts.
     
    The producer price index (PPI) report will be released a day later.
     
    “May’s U.S. CPI and PPI data will be scrutinised for signs of lingering inflationary pressures,” said Convera’s FX and macro strategist Kevin Ford.
     
    “If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting.”
     
    Traders see the Fed keeping rates on hold at its policy meeting next week, but have priced in roughly 44 bps worth of easing by December.
     
    In the oil market, prices edged up, with Brent crude futures gaining 0.24% to $67.20 a barrel. 
     
    U.S. West Texas Intermediate crude was last up 0.25% at $65.45 per barrel after hitting a more than two-month high earlier in the session.
     
    Spot gold fell 0.5% to $3,310.40 an ounce.
     
    (Reuters)

  • MIL-OSI China: China’s rare earth regulations responsible step toward sustainable global supply, security

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

    China’s rare earth regulations responsible step toward sustainable global supply, security

    An aerial drone photo shows a container vessel berthing at Qianwan Port in Qingdao, east China’s Shandong Province, Jan. 13, 2025. (Photo by Yu Fangping/Xinhua)

    China’s recent announcement of new regulations to strengthen export control measures on certain rare earth-related items is a measure driven by its domestic industrial sustainable development needs. The move aligns with international management standards and reflects China’s responsibilities as a major country — and is not, as some claim, a so-called “tactical countermeasure.”

    This step also underscores China’s sense of responsibility as a key global supplier of critical minerals and its commitment to advancing shared global development.

    China’s export controls on certain rare earth-related items are not trade barriers targeting specific countries, but a responsible measure to uphold international non-proliferation obligations. Implemented under the principle of non-discrimination, these controls reflect China’s commitment to maintaining global peace and regional stability.

    Rare earth elements are not only crucial for manufacturing new energy vehicles, consumer electronics and wind turbines, but also play an indispensable role in advanced military equipment such as fighter jets and nuclear facilities. Preventing such strategic resources from being used to undermine international peace and security is a shared non-proliferation obligation for all nations.

    In fact, export controls on dual-use strategic materials are an internationally accepted practice and a legitimate right of sovereign states to safeguard national security and fulfill international responsibilities.

    What is more, China’s new rare earth regulations reflect necessary industrial reforms. In the past, extensive and unregulated development led to the undervaluation of resources and severe ecological damage. This unsustainable model not only depleted the country’s natural resource endowment but also posed risks to the long-term stability of global industrial supply chains.

    China’s new moves, including new regulations on rare earth administration announced in 2024, have demonstrated China’s commitment to transitioning toward high-quality and sustainable development. These measures not only safeguard the domestic ecosystem but also ensure more reliable and transparent rare earth supplies for global industrial chains. A well-regulated and eco-friendly Chinese rare earth industry will ultimately benefit global users.

    Despite misleading hype from some Western media, China’s objective is to regulate exports and not ban them, and to facilitate trade that adheres to established regulations rather than disrupt normal commercial activity. For example, in response to concerns raised by the European Union (EU) and others recently, China’s Minister of Commerce Wang Wentao assured the EU side that China is willing to establish a green channel for eligible applications and expedite the approval process. Relevant work teams have also been instructed to maintain timely communication on this matter.

    These constructive responses and practical adjustments demonstrate China’s sincere commitment to working with its partners to minimize the impact of regulatory measures on legitimate trade.

    As China-U.S. economic and trade frictions deepen and critical technology sectors face unjustified restrictions, China’s efforts to strengthen the management of its strategic resources have often become subject to speculation. However, viewing these measures as mere short-term bargaining tools underestimates the strategic depth of China’s policy decisions.

    China’s rare earth regulations are a prudent decision grounded in widely accepted international norms, the country’s need for sustainable industrial development, and its responsibilities as a major country.

    Rather than succumbing to anxiety over “decoupling” or misconceptions of rare earths as a “strategic weapon,” it would be more constructive for the West to focus on understanding and adapting to China’s new measures.

    Only through candid dialogue and cooperation can all parties help ensure that this critical resource continues to support global technological advancement and the green transition within a peaceful and sustainable framework.

    MIL OSI China News –

  • MIL-OSI: EBC Financial Group and Brokeree Solutions Forge Strategic Knowledge Partnership to Empower Global Trading Community

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 09, 2025 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), a global leader in financial brokerage and asset management, is proud to announce a strategic knowledge partnership with Brokeree Solutions, a cutting-edge technology provider serving multi-asset brokers worldwide. This collaboration marks a significant milestone in EBC’s mission to build a transparent, education-driven investment community, bringing together two industry leaders to share expertise, innovative technologies, and actionable insights for the benefit of traders and investors around the globe.

    At the heart of this partnership is a joint commitment to knowledge sharing, with a strong focus on copy trading, a fast-evolving space that empowers both novice and seasoned traders. EBC and Brokeree will co-develop educational content and practical insights tailored to traders, brokers, and signal providers, helping them apply effective risk management tools, adopt best practices, and enhance their overall trading performance.

    “At EBC Financial Group, our mission is to build a transparent, inclusive investment community where traders are empowered through access to the right tools, insights, and education,” said David Barrett, CEO of EBC Financial Group (UK) Ltd. “This knowledge partnership with Brokeree Solutions goes beyond technology — it’s about leveraging shared expertise to create a more confident, results-driven trading environment. Together, we’re building a platform where both new and experienced traders can learn, grow, and thrive.”

    A Technology-Backed Knowledge Partnership

    Brokeree Solutions contributes its turnkey Social Trading investment system, enabling users to register as either professional traders or followers directly through a broker’s platform. The system features advanced stop-loss/take-profit controls, proportional trade copying, and symbol-specific signal filtering, all designed to support safe, flexible trading.

    EBC complements this with its global market expertise, investor-centric approach, and commitment to transparency, helping traders understand and apply copy trading as an educational tool, especially valuable in today’s complex financial landscape. By making professional-level tools accessible to a wider audience, the partnership transforms copy trading into a gateway for skill development and market participation.

    Content and Webinar Series to Strengthen Trading Knowledge

    As part of this knowledge-driven collaboration, EBC and Brokeree are introducing a monthly article series starting this May, covering a wide range of trading and investment topics. These insights will be designed to address real-world challenges faced by traders and provide actionable strategies to improve performance, risk control, and decision-making. Each article will tap into the shared expertise of both companies and will be published across digital channels to benefit the wider trading community.

    Additionally, the partnership will feature a quarterly webinar series, bringing traders, brokers, and signal providers together for deep-dive discussions on high-impact topics. The first webinar, launching soon, will explore Risk Management, a critical area for both individual and institutional traders. The session will examine practical techniques, platform-level risk tools, and best practices to help participants strengthen their trading discipline and capital protection.

    These initiatives aim not only to educate but also to foster engagement and dialogue within the trading community, ensuring that knowledge flows both ways, from experts to users, and from the front lines of trading back to those shaping the technology and strategy.

    “We value our clients’ trust in our technology and expertise. The partnership will provide traders and signal providers worldwide to examine advanced copy trading features that will help adjust copy trading strategy and increase the efficiency of risk management tools applied,” said Tatiana Pilipenko, Regional Head of Business Development (APAC, UK, Americas) at Brokeree Solutions. “This platform empowers brokers to cultivate a more inclusive and risk-informed trading environment, ultimately driving growth and strengthening relationships with trading communities.”
    This knowledge partnership underscores the shared vision of EBC and Brokeree: a future where technology, education, and transparency converge to empower traders worldwide. As financial markets grow increasingly complex, the collaboration aims to equip every trader – from beginners to experts – with the tools, confidence, and understanding they need to make smarter, more informed decisions.

    Through these collaborations, EBC and Brokeree are not just advancing the future of copy trading, they are laying the foundation for a more informed, connected, and resilient investment community.

    For more information on EBC and Brokeree, please visit https://www.ebc.com. and brokeree.com.

    Disclaimer:

    Trading Contracts for Difference (CFDs) entails a substantial risk of swift financial loss due to leverage, rendering it inappropriate for all investors; thus, a thorough evaluation of your investment objectives, expertise, and risk appetite is imperative prior to engagement.

    About EBC Financial Group  
    Founded in London’s esteemed financial district, EBC Financial Group (EBC) is renowned for its expertise in financial brokerage and asset management. With offices in key financial hubs—including London, Sydney, Hong Kong, Singapore, the Cayman Islands, Bangkok, Limassol, and emerging markets in Latin America, Asia, and Africa—EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.   

    Recognised with multiple awards, EBC is committed to upholding ethical standards and these subsidiaries are licensed and regulated within their respective jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA); EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC);  EBC Financial (MU) Ltd is authorised and regulated by the Financial Services Commission Mauritius (FSC).  

    At the core of EBC are a team of industry veterans with over 40 years of experience in major financial institutions. Having navigated key economic cycles from the Plaza Accord and 2015 Swiss franc crisis to the market upheavals of the COVID-19 pandemic. We foster a culture where integrity, respect, and client asset security are paramount, ensuring that every investor relationship is handled with the utmost seriousness it deserves.   

    As the Official Foreign Exchange Partner of FC Barcelona, EBC provides specialised services across Asia, LATAM, the Middle East, Africa, and Oceania. Through its partnership with the UN Foundation and United to Beat Malaria, the company contributes to global health initiatives. EBC also supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, helping to demystify economics and its application to major societal challenges, fostering greater public understanding and dialogue.  

    https://www.ebc.com/ 

    About Brokeree Solutions

    Founded in 2013, Brokeree Solutions has consistently enhanced the technologies for multi-asset brokers worldwide. Leveraging extensive experience, the company contributed to the fintech area of the online trading industry by developing innovative solutions, streamlining operational procedures, and setting up advanced risk management systems.

    Brokeree’s flagship offerings include cross-platform Social Trading, Prop Pulse, Liquidity Bridge, and cross-server PAMM. Additionally, Brokeree provides over 50 solutions and tools designed to help brokers enhance their operations in areas such as account management, risk management, and liquidity management, accessible to brokers using MT4, MT5, cTrader, and DXtrade CFD trading platforms.

    brokeree.com

    Media Contact:
    Savitha Ravindran
    Global Public Relations Manager
    savitha.ravindran@ebc.com

    Michelle Siow
    Brand & Communications Director
    michelle.siow@ebc.com  

    The MIL Network –

  • MIL-OSI: BEN Reports First Quarter 2025 Results and Business Highlights

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., June 09, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (BEN) (NASDAQ: BNAI), an innovator in AI-driven customer engagement solutions, today announced its results and key business highlights for the first quarter ended March 31, 2025.

    “Q1 marked a strong start to 2025, as we launched our iSKYE platform and deepened strategic partnerships that demonstrate the growing demand for secure, scalable AI solutions,” said Paul Chang, CEO of Brand Engagement Network. “We’ve enhanced our platform with features that deliver greater accuracy and relevance for users, while providing the control and engagement enterprise clients want. Looking ahead, iSKYE’s modular architecture positions us to easily support new industries and applications. This flexibility opens doors to larger opportunities and broader AI-powered engagement across diverse sectors.”

    Q1 2025 Key Business Highlights:

    • iSKYE AI Platform Launch: BEN has officially launched the iSKYE platform, offering businesses a customizable, scalable solution to integrate AI with existing business processes, inject a rules engine to manage the interactions, and provide full control of the user experience. Key capabilities include customizable 3D avatars, low-cost deployment, enterprise-grade security, and the ability to mitigate AI hallucinations while integrating seamlessly into existing systems.
    • Global AI Insurance Partnership with Swiss Life: BEN partnered with Swiss Life Global Solutions to deliver secure, scalable generative AI solutions that enhance digital health, mental health, and financial wellbeing services. The collaboration aims to streamline insurance sales, reduce call center volume, and improve member services with AI-powered tools.
    • Expanded Partnership with Vybroo and Grupo Siete: BEN expanded its partnership with Vybroo and Grupo Siete to deploy AI-powered brand ambassadors and voice agents across Latin America and Southern Europe, enhancing its digital media presence and unlocking new revenue opportunities in high-growth markets.
    • Advocating for Responsible AI Privacy Standards: BEN supported and advised on California Assembly Member Carl DeMaio’s proposed AI data privacy legislation bill, which aims to prevent the offshore storage of sensitive user data and underscores the Company’s commitment to secure, closed-loop AI systems focused on trust and compliance.

    Conference Call and Webcast Information
    The Company will host a conference call and webcast tomorrow, Tuesday, June 10, 2025, at 6:00 p.m. ET. CEO Paul Chang and CFO and COO Walid Khiari will lead the call and provide an overview of the company’s financial performance, key business highlights, and strategic outlook.

    Participants can register here to access the live webcast of the conference call. Those who prefer to join the call via phone can register using this link to receive a dial-in number and unique PIN.

    The webcast will be archived for one year following the conference call and can be accessed on BEN’s investor relations website at https://investors.beninc.ai/.

    About Brand Engagement Network (BEN)
    Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement, delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based or on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

    Forward-Looking Statements
    This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results of BEN to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipates,” “believes,” “continue,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” or “would,” or, in each case, their negative or other variations or comparable terminology.
    These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside BEN’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: uncertainties as to the timing of the acquisition with Cataneo Gmbh (the “Acquisition”); the risk that the Acquisition may not be completed on the anticipated terms in a timely manner or at all; (the failure to satisfy any of the conditions to the consummation of the Acquisition, including the ability to obtain financing to fund the Acquisition on terms that are acceptable or at all; the possibility that any or all of the various conditions to the consummation of the Acquisition may not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; the effect of the announcement or pendency of the transactions contemplated by the purchase agreement on the Company’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally; risks related to diverting management’s attention from the Company’s ongoing business operations; uncertainty as to the timing of completion of the Acquisition; risks that the benefits of the Acquisition are not realized when and as expected; risks relating to the uncertainty of the projected financial information with respect to BEN; uncertainty regarding and the failure to realize the anticipated benefits from future production-ready deployments; the attraction and retention of qualified directors, officers, employees and key personnel; our ability to grow our customer base; BEN’s history of operating losses; BEN’s need for additional capital to support its present business plan and anticipated growth; technological changes in BEN’s market; the value and enforceability of BEN’s intellectual property protections; BEN’s ability to protect its intellectual property; BEN’s material weaknesses in financial reporting; BEN’s ability to navigate complex regulatory requirements; the ability to maintain the listing of BEN’s securities on a national securities exchange; the ability to implement business plans, forecasts, and other expectations; the effects of competition on BEN’s business; and the risks of operating and effectively managing growth in evolving and uncertain macroeconomic conditions, such as high inflation and recessionary environments. The foregoing list of factors is not exhaustive.
    BEN cautions that the foregoing list of factors is not exclusive. BEN cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEN does not undertake nor does it accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and it does not intend to do so unless required by applicable law. Further information about factors that could materially affect BEN, including its results of operations and financial condition, is set forth under “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.

    Media Contact 
    Amy Rouyer
    P: 503-367-7596
    E: amy@beninc.ai

    Investor Relations
    Susan Xu
    P: 778-323-0959
    E: sxu@allianceadvisors.com

    The MIL Network –

  • MIL-OSI Africa: Kenya pledges to accelerate efforts to boost intra-African trade

    Source: Africa Press Organisation – English (2) – Report:

    NAIROBI, Kenya, June 9, 2025/APO Group/ —

    Kenya is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities for businesses in the country across the continent.

    Speaking during the Kenya IATF2025 Business Roadshow event, Kenya’s Cabinet Secretary, Ministry of Investments, Trade and Industry, Hon. Lee Kinyanjui said the government is positioning and consolidating Kenya as a Trade, industrial and innovation hub to strategically tap into trade and investment opportunities presented by AfCFTA.

    “The solutions to Africa’s problems lie with Africans. It is essential for countries within the continent to strengthen intra-African trade.

    The IATF 2025 offers a vital platform to advance the AfCFTA agenda. With a well-educated population, abundant resources, and banks ready to finance investment, Africa has what it takes to elevate itself to the next level.,” the Cabinet Secretary said.

    The Kenya IATF2025 Business Roadshow attracted over 200 members of Kenya’s business community, including buyers, creatives, automotive sector players, policymakers and investors together with executives and officials of African Export-Import Bank (Afreximbank) and African Union Commission (AUC). It focused on exploring ways of promoting intra-African trade. The theme was Harnessing Regional and Continental Value Chains: Accelerating Africa’s Industrialisation and Global Competitiveness under the AfCFTA.

    Harnessing regional and continental value chains under the AfCFTA is crucial for Africa’s industrial growth and global competitiveness. By creating a large, integrated market, the AfCFTA encourages countries to tap into the continental market by scaling up productive capacity and add value to products, create an enabling environment, attracting investment and creating jobs. This boosts economic diversification, expand productive base, and supports Africa’s vision for sustainable and inclusive development.

    The roadshow is one of the five in the series of planned for Nairobi, Accra, Johannesburg, Lagos and Algiers ahead of the fourth edition of the biennial Intra-African Trade Fair (IATF2025) that will be held in Algiers, Algeria from 4 – 10 September 2025 under the theme Gateway to New Opportunities. IATF is Africa’s premier trade and investment event that serves as a crucial platform for fostering economic growth, collaboration, and innovation across the continent. Over the years, the IATF has established a track record as the premier African trade and investment platform and has achieved significant milestones since it was established in 2018 as an instrument to implement the AfCFTA Agreement. Hosted by the Government of Algeria and promoted by Afreximbank, in collaboration with the African Union Commission and the AfCFTA Secretariat, the IATF2025 event will provide businesses from Africa and beyond with a platform to showcase their goods and services and exchange trade and investment information.

    Addressing the forum, Afreximbank’s Executive Vice President, Global Trade Bank, Mr. Haytham Elmaayergi said: “One of the key objectives of the IATF is to address access to trade and market information for intra-African trade to take place. For instance, as a result of a lack of information on African production and supply, countries like Tunisia, Morocco and South Africa import in excess of around US$400 million worth of leather products, mainly from Europe and South America, while countries like Ethiopia, Kenya, and Sudan—which have the supply capacity to meet a substantial part of this demand—continue to export their leather products to markets in Europe and Asia.”

    “Kenya has rapidly emerged as a major force in digitalisation and innovation, both within the region and across Africa. The IATF presents a great opportunity for Kenyan Fintech companies, mobile money innovators and other technology companies to come together and showcase their ingenuity to diverse sectors on the continent. It could potentially help them scale beyond the Kenyan borders as well as attract investment to their respective businesses.” added Mr. Elmaayergi. 

    Mr Elmaayergi made a clarion call for businesses, public and private sector in Kenya to participate and showcase their goods and services in IATF2025, where more than 2,000 exhibitors, including businesses from the African continent and globally, will exchange trade, market and investment information and showcase their goods and services to over 35,000 visitors and buyers from more than 140 countries. This is projected to translate into over US$44 billion in trade and investment deals.

    IATF is a platform for boosting trade and investment in Africa. In the last three editions of IATF, over $100 billion in trade and investment deals have been closed cumulatively with over 70,000 visitors and more than 4,500 exhibitors participating.

    Some of the activities lined up for the week-long IATF2025 include a trade exhibition by countries and businesses; the Creative Africa Nexus (CANEX) programme with a dedicated exhibition and summit on fashion, music, film, arts and craft, sports, literature, gastronomy and culinary arts; a four-day Trade and Investment Forum featuring leading African and international speakers; and the Africa Automotive Show for auto manufacturers, assemblers, original equipment manufacturers and component suppliers.

    Special Days will also be held, dedicated for countries as well as public and private entities to showcase trade and investment opportunities, and tourism and cultural attractions, as well as Global Africa Day to highlight commercial and cultural ties between Africa and its diaspora, featuring a Diaspora Summit, market and exhibition, cultural and gastronomic showcase.

    Also planned is a business-to-business (B2B) and business-to-government (B2G) platform for matchmaking and business exchanges; the AU Youth Start-Up programme showcasing innovative ideas and prototypes; the Africa Research and Innovation Hub @ IATF targeting university students, academia and national researchers to exhibit their innovations and research projects; and the African Sub-Sovereign Governments Network (AfSNET) to promote trade, investment, educational and cultural exchanges at the local level. The IATF Virtual platform is already live, connecting exhibitors and visitors throughout the year.

    To participate in IATF2025 please visit www.IntraAfricanTradeFair.com.

    MIL OSI Africa –

  • MIL-OSI China: China’s foreign trade maintains resilience despite headwinds

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

    China’s foreign trade demonstrated resilience in the first five months of 2025, with total trade value rising 2.5 percent year on year, driven by the country’s efforts to optimize its trade structure and stabilize growth.

    The growth rate marked an increase of 0.1 percentage points compared to that registered in the first four months of 2025. The total value of goods imports and exports in yuan-denominated terms stood at 17.94 trillion yuan (about 2.5 trillion U.S. dollars) in the January-May period, according to the General Administration of Customs (GAC) data released Monday.

    During the first five months of 2025, China’s exports rose 7.2 percent year on year to 10.67 trillion yuan while imports fell 3.8 percent to 7.27 trillion yuan, the data showed.

    An aerial drone photo shows vehicles to be exported at Yantai Port in east China’s Shandong Province, Jan. 2, 2025. [Photo/Xinhua]

    Strong resilience

    Lyu Daliang, director of the GAC’s Department of Statistics and Analysis, said China’s goods trade has maintained “relatively strong resilience” despite external pressures, as the country’s economy has continued its recovery trend since the beginning of the year.

    “In May, China’s foreign trade continued its growth trend, with the pace of expansion accelerating notably following the high-level China-U.S. economic and trade talks (held in Geneva last month),” the official said.

    In May alone, China’s total goods imports and exports in yuan-denominated terms rose 2.7 percent year on year. Goods exports rose 6.3 percent year on year, while imports went down 2.1 percent, according to the data.

    “In the face of a more complex and challenging international situation, China’s foreign trade has overcome difficulties and withstood pressure, maintaining stable growth and demonstrating strong resilience,” said Wang Xuekun, head of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

    This resilience has been underpinned by dedicated efforts to boost trade at the local level. In east China’s Jiangsu Province, the provincial government has pledged increased funding to support exporters’ participation in overseas exhibitions. Since the beginning of the year, it has helped more than 1,400 companies take part in over 120 exhibitions overseas.

    In southwest China’s Chongqing Municipality, cross-border freight vehicles carrying Chinese products, such as motorbike components and agricultural machinery, can reach Vietnam in as little as two days after clearing customs in Chongqing.

    Thanks to the timeliness and flexibility of the road transport corridor, Chongqing’s cross-border freight trucks transported goods worth 5.7 billion yuan in the first five months of 2025, marking a 4.3-fold increase year on year.

    An aerial drone photo taken on May 22, 2025 shows China-Europe freight train X8489 loaded with autos, machine parts and home appliances before its departure for Duisburg, Germany, in Xi’an, northwest China’s Shaanxi Province. [Photo/Xinhua]

    Structural improvements 

    Monday’s GAC data also showed continued structural improvements in China’s foreign trade. High-tech product exports performed strongly in the first five months of 2025, rising 6.1 percent year on year in U.S.-dollar term, while exports of mechanical and electrical products grew by 8.1 percent over the same period.

    In terms of trading partners, ASEAN remained China’s largest trading partner in the January-May period. During this period, trade between China and ASEAN totaled 3.02 trillion yuan, a year-on-year increase of 9.1 percent.

    During the same period, China’s trade with the European Union went up 2.9 percent year on year to nearly 2.3 trillion yuan, while its trade with the United States decreased by 8.1 percent year on year to 1.72 trillion yuan, according to the data.

    Trade with Belt and Road partner countries rose 4.2 percent to 9.24 trillion yuan, and trade with African countries hit a record high, with the China-Africa trade volume increasing 12.4 percent to 963.21 billion yuan during the period.

    Wang said that against the headwinds of rising unilateralism and protectionism, China would rise to the challenges and take multiple measures to properly handle trade frictions and stabilize foreign trade.

    According to him, these measures include seizing trade opportunities by diversifying trading partners and supporting Chinese exporters in exploring the domestic market through promotional campaigns and channels such as supermarkets and e-commerce platforms to sell high-quality foreign trade products.

    Wang also emphasized the need for greater support for foreign trade enterprises, calling for enhanced government efforts to help companies secure deals through matchmaking services at major trade exhibitions, as well as increased financing support. 

    MIL OSI China News –

  • MIL-OSI China: China’s passenger car sector reports steady growth in May

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

    An automatic assembly line is pictured at a smart factory of Changan Auto in Chongqing, southwest China, Jan. 9, 2025. [Photo/Xinhua]

    China’s passenger car sector recorded a double-digit growth in retail sales in May as the country’s policies to boost consumption continued to take effect, the China Passenger Car Association (CPCA) said on Monday.

    Last month, retail sales of passenger cars in China grew by 13.3 percent year on year to exceed 1.93 million units, data from the CPCA shows.

    China launched a new round of its consumer goods trade-in program last year to boost spending, offering subsidies for trading in automobiles, home appliances, and home decorations. The scope of the program was further expanded earlier this year.

    In the first five months of this year, the program has driven the sale of 4.12 million new vehicles, according to the Ministry of Commerce.

    Last month, China produced nearly 1.17 million new energy passenger vehicles, with retail sales exceeding 1.02 million units, representing year-on-year increases of 30.2 percent and 28.2 percent, respectively.

    In the first five months of the year, retail sales of passenger cars exceeded 8.81 million units, increasing 9.1 percent year on year, according to the CPCA data. 

    MIL OSI China News –

  • MIL-OSI China: US wholesale inventories tick up in April

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

    U.S. wholesale inventories ticked up in April as stockpiling occurred, just before President Donald Trump’s sweeping tariffs were implemented.

    Inventories increased 0.2 percent, according to data released Monday by the Commerce Department’s Census Bureau.

    This came on the heels of a 0.3 rise in March.

    Year on year, inventories gained 2.3 percent in April.

    Some of this was due to a 1.3 percent increase in prescription medication stocks in April. A rise in stocks of automobiles, groceries and apparel also accounted for the rise.

    MIL OSI China News –

  • MIL-OSI Economics: Samsung Electronics Maintains No. 1 Position in European Microwave Market for 10 Consecutive Years

    Source: Samsung

     
    Samsung Electronics today announced that it achieved the highest market share in the European microwave segment in 2024, maintaining its No. 1 position for the tenth consecutive year.1
     
    According to data analytics company Euromonitor International, Samsung was ranked as Europe’s No. 1 selling microwave brand based on microwave sales volume in 2024. With this result, Samsung has held the top spot every year since 2015.
     
    “Samsung’s success in the European microwave market comes from our ability to align with what consumers value — a balance of design and intuitive usability,” said Taehwan Hwang, EVP and Head of the Sales & Marketing Team for the Digital Appliances Business at Samsung Electronics. “We will continue to lead the market by leveraging our strengths in smart connectivity and premium design.”
     

    Making Design and Innovation Central to the Kitchen
    Samsung has targeted the European market with products offering premium design, reflecting the interest of local consumers in kitchen interiors. Since 2019, the company has offered its Bespoke Microwave lineup, which features seven colors2 options and a glass finish, a combination that quickly gained popularity across the region.
     
    To further enhance everyday convenience, Samsung introduced the MW7300B All-in-one Microwave Oven in 2024. Thanks to its SmartThings3 compatibility, users can monitor and control the microwave remotely4 with their smartphones, even when they are not in the kitchen. It can also be operated using voice assistants5 such as Bixby,6 for a seamless, connected cooking experience.

     
    To find out more about Samsung’s microwave products, visit Samsung.com.
     
     
    1 Source Euromonitor International Limited; Consumer Appliances 2025ed, “microwaves” as per Passport definitions; Retail Volume Sales in Units, 2024 data
    2 The available colors may differ by country. Once the color of the panels has been selected it cannot be changed again.
    3 Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required. The SmartThings Energy and SmartThings Home Care services are only available in certain countries.
    4 Only available when the Smart Control button on the microwave oven is turned on with hands.
    5 A Wi-Fi connection is required
    6 Bixby is Samsung’s Internet of Things (IoT) voice assistant. Bixby service availability may vary depending on the country. Bixby recognizes certain accents/dialects of English (US, UK, Indian), Chinese, Korean, French, German, Italian, Spanish and Portuguese. A Samsung account log-in and Wi-Fi connection are required.

    MIL OSI Economics –

  • MIL-OSI Economics: BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Source: GlobalData

    BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Posted in Business Fundamentals

    Following the news that China-based electric vehicle (EV) giant BYD Co Ltd is under scrutiny as its rapidly rising accounts payables raise concerns over a potential hidden debt burden;

    Murthy Grandhi, Company Profiles Analyst at GlobalData, a leading data and analytics company, offers his view:

    “BYD posted record 2024 results with revenues of $108.1 billion (CNY777.1 billion) (+29% year-on-year (YoY)) and net profit of $5.6 billion (CNY40.2 billion) (+34% YoY). However, experts warn that the company’s growing reliance on supply chain financing could expose it to serious financial risks if market conditions deteriorate.

    “Despite holding $17.8 billion (CNY102.5 billion) in cash and reducing total debt to $5.8 billion (CNY194.2 billion), BYD’s accounts payables rose 24.3% YoY to $33.6 billion (CNY241.6 billion) in 2024, reaching $34.9 billion (CNY250.8 billion) by March 2025. Over five years, this figure has grown at a CAGR of 41.2%, outpacing both revenue and profit growth.

    “BYD’s financing method involves issuing commercial paper to suppliers, who then sell it to banks. These are treated as trade finance, not corporate debt. However, if credit sentiment shifts, this paper could trade below par. Banks may demand cash, suppliers may go unpaid, and production lines could stall—like Evergrande’s liquidity crisis.

    “The broader risk is systemic. BYD anchors a vast ecosystem of parts suppliers, particularly in Guangdong and Hunan provinces, employing over 900,000 people. A disruption in payments could trigger a liquidity shock across the supply chain.

    “GlobalData emphasizes that this model is only vulnerable under significant market stress. If EV demand drops or credit tightens, BYD may need to accelerate supplier payments or seek external funding—both of which could strain its liquidity. BYD’s capacity to sustain growth while ensuring financial transparency will be vital to preserving investor confidence amid its increasingly leveraged expansion.”

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the ASEAN Committee in Oslo

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, started off his working visit to Norway with the meeting with the ASEAN Committee in Oslo (ACO), on 9 June 2025. During the meeting, Dr. Kao thanked the Committee for its active role and contribution in promoting the profile and visibility of ASEAN in Norway, and in enhancing ASEAN-Norway relations. Dr. Kao also shared thoughts on ways to further strengthen the ASEAN-Norway Sectoral Dialogue Partnership and briefed the Committee on the latest developments in ASEAN. The Meeting was followed by a dinner reception with the ACO and other key stakeholders, including Norway-ASEAN Business Association, where Dr. Kao delivered remarks reaffirming ASEAN’s unwavering commitment to deepening its partnership with Norway in the years to come.
     
    Download the full remarks here.

    The post Secretary-General of ASEAN meets with the ASEAN Committee in Oslo appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Australia: Renting taskforce cracks down on rental bidding

    Source: Australian Capital Territory Policing

    Five Victorian real estate agencies will face court next month for advertising rental properties in breach of Victoria’s rental bidding laws. This follows investigations by Consumer Affairs Victoria’s renting taskforce.

    It is alleged the agencies failed to include the fixed price for the rent when advertising properties on realestate.com.au and domain.com.au. The agencies are:

    • Wyndham Realty Pty Ltd, trading as Barry Plant, Werribee
    • AAM Realtor Pty Ltd, trading as Ray White, Point Cook
    • White Lotus Property Group, Truganina
    • YouSales Pty Ltd, Docklands
    • Smart Six Corporation Pty Ltd, trading as PRD, Mildura

    The agencies were issued with infringements but chose not to pay their fines and have their matters heard at court.

    Using a price range or phrases such as ‘Contact agent’ in rental advertisements in place of a fixed price is a form of rental bidding. It leaves renters unclear what rent is being asked for and can pressure them to offer inflated amounts.

    Rental bidding was prohibited as part of the 130 rental law reforms introduced in 2021. Over 40 agencies have been fined for not using fixed prices in their listings, since the taskforce began.

    Fines for this offence are $2,371 for individuals and $11,855 for companies. A maximum penalty for companies of more than $59,000 per offence applies.

    These cases will be heard in the Melbourne Magistrates’ Court and Mildura Magistrates’ Court in July.

    MIL OSI News –

  • MIL-OSI New Zealand: Universities – Economists urge action to prevent ‘AI poverty traps’ – UoA

    Source: University of Auckland (UoA)

    Artificial intelligence could deepen inequality and create ‘AI-poverty traps’ in developing nations, write economists Dr Asha Sundaram and Dr Dennis Wesselbaum in their paper ‘Economic development reloaded: the AI revolution in developing nations’.

    Sundaram, an associate professor at the University of Auckland Business School, and Wesselbaum, an associate professor at the University of Otago, say developing countries lack the necessary infrastructure and skilled labour force to capitalise on AI’s potential.
    “The downside is that there isn’t a lot of capacity in some countries in terms of digital infrastructure, internet, mobile phone penetration,” says Sundaram.
    “Much of the technology is controlled by firms like Google and OpenAI, raising the risk of over-reliance on foreign tech, potentially stifling local innovation.”
    Without strategic interventions, Wesselbaum says AI may create an ‘AI-poverty trap’: locking developing nations into technological dependence and widening the gap between global economies.
    “For developing countries, AI could be a game-changer; boosting productivity, expanding access to essential services, and fostering local innovation – if the right infrastructure and skills are in place.”
    Financial support from developed countries and international bodies like the UN could help cover upfront costs through grants, loans and investment incentives, according to the research.
    “We also need robust legal and regulatory frameworks to support responsible AI by addressing data privacy, ethics, and transparency concerns,” says Sundaram.
    The economists argue that in developing AI policies, the international community must learn from the successes and failures of foreign aid.
    “Aid has often failed to spur lasting growth in developing countries,” says Sundaram, “partly because it can create dependency, reducing self-reliance and domestic initiatives.”
    She highlights a need for policies to mitigate the downsides of AI, both in developed and developing countries.
    Such policies could include an international tax regime that would allow countries to capture tax revenue from economic activities driven by AI inside their borders.
    Sundaram’s involved in one such project in Ethiopia where artificial intelligence is being harnessed by the government and the country’s largest telecom provider to support small businesses excluded from formal banking due to lack of collateral.
    By analysing mobile money transactions and how much these businesses pay and receive, algorithms estimate how much credit can safely be offered, enabling small loans and helping integrate marginalised enterprises into the formal economy.
    Artificial intelligence holds the power to transform development trajectories, but without targeted investments and inclusive policies, says Wesselbaum, it risks deepening the digital divide and entrenching global inequality.

    MIL OSI New Zealand News –

  • MIL-OSI: MediPharm Labs’ Founder-CEO Pat McCutcheon Throws his Support behind Apollo Capital as Dissident

    Source: GlobeNewswire (MIL-OSI)

    McCutcheon Agrees with Apollo that Urgent Change is Needed, including Complete Turnover at the Board Level after Years of Value-Destruction

    Apollo Capital Announces Filing of Circular Addendum to
    Reflect McCutcheon’s Endorsement

    SHAREHOLDERS ARE URGED TO VOTE THE GOLD CARD “FOR” APOLLO CAPITAL’S SIX DIRECTOR NOMINEES AND NOT VOTE MEDIPHARM’s GREEN CARD

    TORONTO, June 09, 2025 (GLOBE NEWSWIRE) — Apollo Technology Capital Corporation (“Apollo Capital”), one of MediPharm Lab Corp’s (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) (“MediPharm”, or the “Company”) largest investors, is very pleased to announce that Pat McCutcheon, a founder, former CEO, director and Chairman of MediPharm, has joined Apollo Capital as a co-dissident in its battle to bring integrity, transparency and prosperity back to MediPharm’s long-suffering shareholders.

    Pat McCutcheon stated: “I have been observing Apollo’s activist campaign from the sidelines, and I can no longer just sit by and watch. I still feel a deep responsibility to the Company, its employees and the shareholders who have invested millions into the vision of MediPharm being the global leader in medical cannabis and cannabis derived pharmaceutical products. Over the past three years, the share price has collapsed while the senior management team has been paid over $10,000,000, a compensation program that should never have been approved by the independent Directors. Management has failed to capitalize on the medical cannabis opportunity and taken the Company away from its founding vision by entering the recreational market, taking on dilutive M&A transactions and recently announcing a return to cultivating cannabis. This is not the MediPharm investors have supported.

    I have gotten to know Regan McGee & his team of proposed directors. The directors have a broad range of relevant experience including medical cannabis experience, turn-around experience, and extensive capital markets experience. Regan has demonstrated himself to be a skilled investor who has been successful in both start-ups and turn-around projects. He’s also overcome great personal adversity, showing that he never backs down from a fight. In terms of the negative statements from MediPharm about Regan, the ones that I have been able to independently verify have turned out to be simply fabrications that appear to be part of MediPharm’s campaign to discredit and defame Regan. I believe the attacks on Regan & his business record are not factual and more importantly hide the real issues that shareholders should be considering such as compensation, dilution & the share price. On each of these fronts, I believe the Apollo directors are a better choice than the directors put forward by the current Board.

    We need to focus on the real issues – who is going to drive the stock price higher. Apollo only makes money when the stock price goes up, as all the shareholders do together. This is why I support the Apollo team. I’m asking shareholders to vote GOLD at this year’s AGM. We do not have time to wait.”

    Apollo notes that its business model with MediPharm is highly aligned with shareholders. As an activist investor, it looks to make investments in poorly managed companies where new governance and management can work to improve the share price for Apollo and all other investors. Apollo’s business model is to buy stock in target companies and work with frustrated shareholders to secure the majority of votes needed to replace board members and executives with ones focused on share value growth. Apollo does not “take over” or otherwise control its target companies, rather it appoints directors who recognize their legal fiduciary duty to act in the best interests of all common shareholders.

    Regan McGee of Apollo Capital commented: “We are immensely proud to welcome Pat McCutcheon as a co-dissident. Pat is responsible for helping to build MediPharm into an absolute powerhouse in the cannabis industry, and I can only imagine how difficult it has been for him to watch the Company he loves so much be mismanaged virtually to the point of insolvency.

    Pat and I want exactly the same thing – to restore value to MediPharm shareholders and to usher in a new era of profitability, good governance and most importantly, accountability. We both believe that if we all come together and take urgent action, the future for the MediPharm will be bright.”

    In connection with the addition of Mr. McCutcheon as a “dissident” within the meaning of applicable corporate laws, an addendum dated June 4, 2025 (the “Addendum”) to the dissident information circular dated May 15, 2025 (the “Circular”) has been filed on www.SEDARPLUS.ca under MediPharm’s profile. Shareholders are encouraged to read the Circular, as supplemented and amended by the Addendum.

    Apollo Capital’s strategic five-pillar plan for MediPharm has been made available in detail at www.curemedipharm.com. With shareholder support, we can turn MediPharm around and transform it into the world’s leading medical cannabis company.

    Apollo Capital urges shareholders to vote for change by voting the GOLD CARD by June 12, 2025. Shareholders are urged NOT to sign or return the green proxy cards sent by the Company.

    Contacts

    For Shareholders:
    Carson Proxy
    North American Toll-Free Phone: 1-800-530-5189
    Local or Text Message: 416-751-2066 (collect calls accepted)
    E: info@carsonproxy.com

    For Media:
    media@curemedipharm.com

    This solicitation is being made by and on behalf of the Concerned Shareholder, who, as of the date of this Circular, beneficially owns or controls, directly and indirectly through its wholly-owned subsidiary, Nobul Technologies Inc., 12,491,500 common shares of the Company (“Common Shares”), representing approximately 3% of the total Common Shares issued and outstanding, and not by the management of the Company (“Management”).

    Legal Disclosures

    Information in Support of Public Broadcast Exemption under Canadian Law

    In connection with the annual general and special meeting (the “Annual Meeting”) of shareholders of MediPharm, Apollo Capital has filed an amended and restated dissident information circular dated May 15, 2025 (the “Circular”), as amended and supplemented by an addendum to the Circular subsequently filed by Apollo Capital and Patrick McCutcheon (together, the “Concerned Stakeholder”) dated June 4, 2025 (the “Addendum” and together with the Circular, the “Amended Circular”), each in compliance with applicable corporate and securities laws. The Concerned Stakeholder has provided in, or incorporated by reference into, this press release the disclosure required under section 9.2(4) of NI 51-102 – Continuous Disclosure Obligations (“NI 51-102”) and the corresponding exemption under the Business Corporations Act (Ontario), and has filed the Amended Circular, available under MediPharm’s profile on SEDAR+ at www.sedarplus.ca. The Amended Circular contains disclosure prescribed by applicable corporate law and disclosure required under section 9.2(6) of NI 51-102 in respect of the Concerned Stakeholder’s director nominees, in accordance with corporate and securities laws applicable to public broadcast solicitations. The Amended Circular is hereby incorporated by reference into this press release and is available under MediPharm’s profile on SEDAR+ at www.sedarplus.ca. The registered office of the Company is 151 John Street, Barrie, Ontario, Canada L4N 2L1.

    SHAREHOLDERS OF MEDIPHARM ARE URGED TO READ THE AMENDED CIRCULAR CAREFULLY BECAUSE IT CONTAINS IMPORTANT INFORMATION. Investors and shareholders are able to obtain free copies of the Amended Circular and any amendments or supplements thereto and further proxy circulars at no charge under MediPharm’s profile on SEDAR+ at www.sedarplus.ca. In addition, shareholders are also able to obtain free copies of the Amended Circular and other relevant documents by contacting the Concerned Stakeholder’s proxy solicitor, Carson Proxy Advisors Ltd. (“Carson Proxy”) at 1-800-530-5189, local (collect outside North America): 416-751-2066 or by email at info@carsonproxy.com.

    Proxies may be revoked in accordance with subsection 110(4) of the Business Corporations Act (Ontario) by a registered shareholder of Company shares: (a) by completing and signing a valid proxy bearing a later date and returning it in accordance with the instructions contained in the accompanying form of proxy; (b) by depositing an instrument in writing executed by the shareholder or by the shareholder’s attorney authorized in writing; (c) by transmitting by telephonic or electronic means a revocation that is signed by electronic signature in accordance with applicable law, as the case may be: (i) at the registered office of the Company at any time up to and including the last business day preceding the day the Annual Meeting or any adjournment or postponement of the Annual Meeting is to be held, or (ii) with the chair of the Annual Meeting on the day of the Annual Meeting or any adjournment or postponement of the Annual Meeting; or (d) in any other manner permitted by law. In addition, proxies may be revoked by a non-registered holder of Company shares at any time by written notice to the intermediary in accordance with the instructions given to the non-registered holder by its intermediary. It should be noted that revocation of proxies or voting instructions by a non-registered holder can take several days or even longer to complete and, accordingly, any such revocation should be completed well in advance of the deadline prescribed in the form of proxy or voting instruction form to ensure it is given effect in respect of the Annual Meeting.

    The costs incurred in the preparation and mailing of any circular or proxy solicitation by the Concerned Stakeholder and any other participants named herein will be borne directly and indirectly by Apollo Capital. However, to the extent permitted under applicable law, Apollo Capital intends to seek reimbursement from the Company of all expenses incurred in connection with the solicitation of proxies for the election of its director nominees at the Annual Meeting.

    This press release and any solicitation made by the Concerned Stakeholder is, or will be, as applicable, made by such parties, and not by or on behalf of the management of the Company. Proxies may be solicited by proxy circular, mail, telephone, email or other electronic means, as well as by newspaper or other media advertising and in person by managers, directors, officers and employees of the Concerned Stakeholder who will not be specifically remunerated therefor. In addition, the Concerned Stakeholder may solicit proxies by way of public broadcast, including press release, speech or publication and any other manner permitted under applicable Canadian laws, and may engage the services of one or more agents and authorize other persons to assist it in soliciting proxies on their behalf.

    Apollo Capital has entered into an agreement with Carson Proxy for solicitation and advisory services in connection with the solicitation of proxies by the Concerned Stakeholder for the Annual Meeting, for which Carson Proxy will receive a fee from Apollo Capital not to exceed $250,000, together with reimbursement for reasonable and out-of-pocket expenses. Apollo Capital has also engaged Gasthalter & Co. LP (“G&Co”) to act as communications consultant to provide the Concerned Stakeholder with certain communications, public relations and related services, for which G&Co will receive, from Apollo Capital, a minimum fee of US$75,000 in addition to a performance fee of US$250,000 in the event that the Concerned Stakeholder’s nominees make up a majority of the board of directors of MediPharm (the “Board”) following the Annual Meeting, plus excess fees, related costs and expenses.

    No member of the Concerned Stakeholder nor any of their respective associates or affiliates has or has had any material interest, direct or indirect, in any transaction since the beginning of the Company’s last completed financial year or in any proposed transaction that has materially affected or will or would materially affect the Company or any of the Company’s affiliates. No member of the Concerned Stakeholder nor any of their respective associates or affiliates has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at the Annual Meeting, other than setting the number of directors and the election of directors to the Board.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward‐looking statements. All statements contained in this filing that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward‐looking statements. These statements are based on current expectations of the Concerned Stakeholder and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. All forward-looking statements contained herein are made only as of the date hereof and the Concerned Stakeholder disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Concerned Stakeholder hereafter becomes aware, except as required by applicable law.

    Hashtags: #ShareholderActivism #CorporateGovernance #InvestorProtection #Investor Alert #Investor Fraud #FinancialRegulation #CorporateCrime #FinancialCrime #HomelandSecurity #DHS #OpioidCrisis #OpioidEpidemic #OpioidLitigation #OpioidVictims #BMO #DEA #ONDCP

    The MIL Network –

  • MIL-OSI USA: Ernst Names Small Business of the Week, Northwood Foods

    US Senate News:

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

    RED OAK, Iowa – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business Committee, today announced her Small Business of the Week: Northwood Foods of Worth County. Throughout the 119th Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties.
    “Built on prime values, Northwood Foods continues to make every cut count,” said Chair Ernst. “From fabrication to distribution, Northwood Foods has been delivering pork with precision and pride since 1998—serving clients, communities, and families worldwide.”  
    In 1998, Brian Burkard founded Northwood Foods with a vision to provide high-quality, tailored services for processing pork. The business expanded quickly, and in just two years, it began to serve clients both domestically and internationally. Northwood Foods had two major plant expansions in 2001 and 2006 and now operates a 40,000-square-foot facility that processes more than 600,000 pounds of fresh pork daily and produces a broad selection of cuts. In February, Northwood Foods celebrated its 27th anniversary.

    MIL OSI USA News –

  • MIL-OSI Security: Former President of Allentown Title Company Pleads Guilty to Defrauding Title Insurance Underwriter, Clients, and U.S. Government

    Source: Office of United States Attorneys

    PHILADELPHIA – United States Attorney David Metcalf announced that Louis Belletieri, 43, of Allentown, Pennsylvania, entered a plea of guilty today before United States District Judge Jeffrey L. Schmehl on two counts of wire fraud, charges arising from his scheme to defraud a title insurance underwriter and clients and his fraudulent application to the Small Business Administration (SBA) to obtain Economic Injury Disaster Loans (“EIDL”).

    In May of this year, the defendant was charged with those offenses by information.

    As detailed in court documents, Belletieri was the president of Allentown-based Security Settlement Services of Pittsburgh d/b/a Legacy Title (“Legacy Title”), which he purported to operate for the purpose of providing title and real estate closing services to clients in connection with real estate transactions.

    In or about November 2013, the defendant, as Legacy Title’s president, entered into a contract with a title insurance underwriter, in which the underwriter appointed Legacy Title as its agent for the purpose of issuing title insurance commitments, policies, endorsements for Pennsylvania properties.

    Legacy Title and Belletieri maintained an escrow account to receive funds in connection with these and other client real estate transactions. The money from customers, mortgage lenders, and others was typically transferred electronically into Legacy Title’s escrow account.

    Belletieri should have maintained the funds in the escrow account for the purpose of conducting real estate transactions and disbursing funds as appropriate and for the purpose for which they were entrusted, such as to pay off mortgages, pay taxes, obtain title insurance, and pay for other expenses in connection with real estate transactions.

    As further detailed in court filings and admitted to by the defendant, he instead used the funds in the escrow account for personal reasons, including, among other things, to place online sports bets.

    During the course of the scheme, Belletieri regularly made and caused to be made electronic transfers of funds to and from the escrow account to, from, and among Legacy Title’s business operating account, his personal bank account, his credit card account, and online sports betting platforms.

    From in or about March 2020 through in or about September 2023, Belletieri made electronic transfers of funds from the escrow account to his personal account totaling approximately $6,434,500, and from the escrow account to the business operating account totaling approximately $2,460,190, many of which were not for legitimate business purposes.

    Belletieri took numerous steps to conceal his fraud upon his clients and the title insurance underwriter, including by submitting a fraudulent application to the SBA on behalf of Legacy Title to defraud the SBA and obtain funds via the EIDL program. In connection with this application, the defendant entered into fraudulent loan agreements with the SBA, falsely agreeing that he would use the proceeds of the loan solely as working capital to alleviate economic injury related to the Covid-19 pandemic.

    When the SBA disbursed the EIDL funding to Legacy Title and Belletieri pursuant to his fraudulent application, Belletieri used significant portions of the proceeds for personal uses, rather than as working capital for Legacy Title. As a result, the defendant caused the SBA to disburse a total of approximately $825,000 due to his fraud.

    Belletieri is scheduled to be sentenced on September 12 and faces a maximum possible sentence of 40 years’ imprisonment.

    The case was investigated by FBI Philadelphia’s Allentown Resident Agency with assistance from the Lehigh County District Attorney’s Office and is being prosecuted by Assistant United States Attorneys John J. Boscia and Rebecca J. Kulik.

    MIL Security OSI –

  • MIL-OSI USA: Hickenlooper, Schmitt Introduce Bipartisan Bill to Create Defense Tech Hubs, Boost National Security

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado

    Colorado would be a prime location for a Defense Tech Hub

    WASHINGTON – Today, U.S. Senators John Hickenlooper and Eric Schmitt introduced the bipartisan Defense Technology Hubs Act, which would spur defense innovation and investment across 10 regions, including states like Colorado, to modernize our defense industrial base and create good-paying jobs.

    “You don’t have to look further than Colorado to see how a strong, interconnected defense tech ecosystem spurs even greater cutting-edge breakthroughs,” said Hickenlooper. “America needs to double down on our innovation advantage to compete with China’s accelerating investments.”

    “We cannot deter great power conflict, we cannot protect the American way of life, and we cannot guarantee peace through strength if we cannot build the tools of defense at scale and speed. The United States faces an ever-growing challenge of maintaining our advantage amid rapid advancements and innovations from our foreign adversaries like China, and we must rise to the challenge. With Missouri serving as a key model for this program, I look forward to these tech hubs spreading across the nation to ensure our military is prepared for the next century of technological threats,” said Schmitt.

    Specifically, the Defense Technology Hubs Act will:

    • Require the Department of Defense (DoD) to establish a program to designate and support regional DoD Tech Hubs focused on advancing defense technologies critical to national security.
    • Establish the criteria for eligible consortia to receive a DoD Tech Hub, including:
      • Capability in defense-relevant technology areas.
      • Evidence of regional collaboration and stakeholder commitment.
      • Presence of anchor Federal defense institutions or mission-critical military installations that support or utilize emerging defense technologies, particularly in geospatial intelligence, data fusion, and AI.
    • Require the Secretary of Defense to coordinate with existing efforts such as DIU, EDA Tech Hubs, DARPA, Manufacturing USA Institutes, and NSF’s Regional Innovation Engines to reinforce the capacity of all programs.
    • Bar foreign entities of concern, as identified by DoD in coordination with the intelligence community and consistent with existing federal designations, like Commerce Department’s Entity List.
    • Authorize $375 million for fiscal years 2026 – 2030 and include a 1:1 cost sharing requirement with non-federal private and state sources.

    “A Defense Technology Hubs program would bolster the nation’s and region’s aerospace leadership through workforce development and economic growth, not to mention building out critical defense systems to protect all Americans,” said Iain Boyd, Director of the Center for National Security Initiatives at the University of Colorado Boulder. “The Hub concept recognizes that regional alliances of universities with complementary capabilities can best meet the needs of today’s defense technology challenges.”

    Full text of the legislation available HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Hickenlooper, Bennet Statement on Secretary Lutnick’s Senate Testimony

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado

    WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet released the following statement following the congressional testimony from Commerce Secretary Howard Lutnick:

    “Colorado, and the rest of the country, worked for years to create and prepare programs to expand broadband access under the Broadband Equity, Access, and Deployment (BEAD) program. These programs are nearly finalized, and delaying them will cost millions of dollars, add unnecessary bureaucratic burdens, and deprive Coloradans of high-speed, affordable internet.

    “Secretary Lutnick’s decision to ask states to reapply for this federal funding betrays the promise Congress made to the American people.”

    Hickenlooper was part of the bipartisan group of 22 senators who negotiated and wrote the $1.2 trillion infrastructure deal, which authorized the BEAD program.

    The BEAD program is the largest broadband investment in American history and invests $42.45 billion to expand high-speed internet access by funding planning, infrastructure deployment, and adoption programs in all 50 states and territories. It prioritizes communities with little to no reliable internet access to make sure unserved and underserved areas aren’t left behind.

    In Colorado, 10 percent of locations are unserved or underserved, and 190,850 households lack access to the internet. In June 2023, the National Telecommunications and Information Administration awarded Colorado over $826 million as part of the program.

    MIL OSI USA News –

  • MIL-OSI USA: Chinese National Pleads Guilty to Acting at the Direction of North Korea to Export Firearms, Ammo, and Technology to North Korea

    Source: US State of California

    An illegal alien from China pleaded guilty today to federal criminal charges for illegally exporting firearms, ammunition and other military items to North Korea by concealing them inside shipping containers that departed from the Port of Long Beach, California, and for committing this crime at the direction of North Korean government officials, who wired him approximately $2 million for his efforts.

    Shenghua Wen, 42, of Ontario, California, pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and one count of acting as an illegal agent of a foreign government. Wen has been in federal custody since his arrest in December 2024.

    According to his plea agreement, Wen is a citizen of the People’s Republic of China who entered the United States in 2012 on a student visa and remained in the U.S. illegally after his student visa expired in December 2013.

    Prior to entering the United States, Wen met with officials from North Korea’s government at a North Korean embassy in China. These government officials directed Wen to procure goods on behalf of North Korea.

    In 2022, two North Korean government officials contacted Wen through an online messaging platform and instructed him to buy and smuggle firearms and other goods – including sensitive technology – from the United States to North Korea via China.

    In 2023, at the direction of North Korean government officials, Wen shipped at least three containers of firearms out of the Port of Long Beach to China en route to their ultimate destination in North Korea. Wen took steps to conceal that he was illegally shipping firearms to North Korea by, among other things, filing false export information regarding the contents of the containers.

    In May 2023, Wen purchased a firearms business in Houston, paid for with money sent through intermediaries by one of Wen’s North Korean contacts. Wen purchased many of the firearms he sent to North Korea in Texas and drove the firearms from Texas to California, where he arranged for them to be shipped.

    In December 2023, one of Wen’s weapons shipments – which falsely reported to U.S. officials that it contained a refrigerator – left the Port of Long Beach and arrived in Hong Kong in January 2024. This weapons shipment was later transported from Hong Kong to Nampo, North Korea.

    In September 2024, Wen – once again acting at the direction of North Korean officials – bought approximately 60,000 rounds of 9mm ammunition that he intended to ship to North Korea.

    In furtherance of the conspiracy and at the direction of North Korean officials, Wen also obtained sensitive technology that he intended to send to North Korea. This technology included a chemical threat identification device and a handheld broadband receiver that detects known, unknown, illegal, disruptive or interfering transmissions.

    Wen also acquired or offered to acquire a civilian airplane engine and a thermal imaging system that could be mounted on a drone, helicopter, or other aircraft, and could be used for reconnaissance and target identification.

    During the scheme, North Korean officials wired approximately $2 million to Wen to procure firearms and other goods for their government.

    Wen admitted that at all relevant times he knew that it was illegal to ship firearms, ammunition, and sensitive technology to North Korea. He also admitted to never having the required licenses to export ammunition, firearms, and the above-described devices to North Korea. He further admitted to acting at the direction of North Korean government officials and that he had not provided notification to the Attorney General of the United States that he was acting in the United States at the direction and control of North Korea as required by law.

    Wen faces a maximum penalty of 20 years in prison on the count of violating the IEEPA and a maximum penalty of 10 years in prison on the count of acting as an illegal agent of a foreign government. Sentencing is scheduled for Aug. 18. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant Attorney General for National Security John Eisenberg, U.S. Attorney Bilal A. Essayli for the Central District of California, and Assistant Director Roman Rozhavsky of the FBI Counterintelligence Division made the announcement.

    The FBI, Homeland Security Investigations, Defense Criminal Investigative Service (DCIS), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Department of Commerce Bureau of Industry and Security (BIS) are investigating the case.

    Assistant U.S. Attorney Sarah E. Gerdes for the Central District of California and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI Security: Chinese National Pleads Guilty to Acting at the Direction of North Korea to Export Firearms, Ammo, and Technology to North Korea

    Source: United States Department of Justice Criminal Division

    An illegal alien from China pleaded guilty today to federal criminal charges for illegally exporting firearms, ammunition and other military items to North Korea by concealing them inside shipping containers that departed from the Port of Long Beach, California, and for committing this crime at the direction of North Korean government officials, who wired him approximately $2 million for his efforts.

    Shenghua Wen, 42, of Ontario, California, pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and one count of acting as an illegal agent of a foreign government. Wen has been in federal custody since his arrest in December 2024.

    According to his plea agreement, Wen is a citizen of the People’s Republic of China who entered the United States in 2012 on a student visa and remained in the U.S. illegally after his student visa expired in December 2013.

    Prior to entering the United States, Wen met with officials from North Korea’s government at a North Korean embassy in China. These government officials directed Wen to procure goods on behalf of North Korea.

    In 2022, two North Korean government officials contacted Wen through an online messaging platform and instructed him to buy and smuggle firearms and other goods – including sensitive technology – from the United States to North Korea via China.

    In 2023, at the direction of North Korean government officials, Wen shipped at least three containers of firearms out of the Port of Long Beach to China en route to their ultimate destination in North Korea. Wen took steps to conceal that he was illegally shipping firearms to North Korea by, among other things, filing false export information regarding the contents of the containers.

    In May 2023, Wen purchased a firearms business in Houston, paid for with money sent through intermediaries by one of Wen’s North Korean contacts. Wen purchased many of the firearms he sent to North Korea in Texas and drove the firearms from Texas to California, where he arranged for them to be shipped.

    In December 2023, one of Wen’s weapons shipments – which falsely reported to U.S. officials that it contained a refrigerator – left the Port of Long Beach and arrived in Hong Kong in January 2024. This weapons shipment was later transported from Hong Kong to Nampo, North Korea.

    In September 2024, Wen – once again acting at the direction of North Korean officials – bought approximately 60,000 rounds of 9mm ammunition that he intended to ship to North Korea.

    In furtherance of the conspiracy and at the direction of North Korean officials, Wen also obtained sensitive technology that he intended to send to North Korea. This technology included a chemical threat identification device and a handheld broadband receiver that detects known, unknown, illegal, disruptive or interfering transmissions.

    Wen also acquired or offered to acquire a civilian airplane engine and a thermal imaging system that could be mounted on a drone, helicopter, or other aircraft, and could be used for reconnaissance and target identification.

    During the scheme, North Korean officials wired approximately $2 million to Wen to procure firearms and other goods for their government.

    Wen admitted that at all relevant times he knew that it was illegal to ship firearms, ammunition, and sensitive technology to North Korea. He also admitted to never having the required licenses to export ammunition, firearms, and the above-described devices to North Korea. He further admitted to acting at the direction of North Korean government officials and that he had not provided notification to the Attorney General of the United States that he was acting in the United States at the direction and control of North Korea as required by law.

    Wen faces a maximum penalty of 20 years in prison on the count of violating the IEEPA and a maximum penalty of 10 years in prison on the count of acting as an illegal agent of a foreign government. Sentencing is scheduled for Aug. 18. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant Attorney General for National Security John Eisenberg, U.S. Attorney Bilal A. Essayli for the Central District of California, and Assistant Director Roman Rozhavsky of the FBI Counterintelligence Division made the announcement.

    The FBI, Homeland Security Investigations, Defense Criminal Investigative Service (DCIS), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Department of Commerce Bureau of Industry and Security (BIS) are investigating the case.

    Assistant U.S. Attorney Sarah E. Gerdes for the Central District of California and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI USA: Founder of Cryptocurrency Payment Company Charged with Evading Sanctions and Export Controls, Defrauding Financial Institutions, and Violating the Bank Secrecy Act

    Source: US State of North Dakota

    Defendant Allegedly Laundered More Than $500M Through the U.S. Financial System, Including by Facilitating Transactions with Sanctioned Russian Banks

    A 22-count indictment was unsealed today charging Iurii Gugnin, also known as Iurii Mashukov and George Goognin, 38, a resident of New York and citizen of Russia, with various offenses related to using his cryptocurrency company Evita to funnel more than $500 million of overseas payments through U.S. banks and cryptocurrency exchanges while hiding the source and purpose of the transactions.

    According to court documents, Gugnin is charged with wire and bank fraud, conspiracy to defraud the United States, violation of the International Emergency Economic Powers Act (IEEPA), operating an unlicensed money transmitting business, failing to implement an effective anti-money laundering compliance program, failing to file suspicious activity reports, money laundering, and related conspiracy charges. Gugnin was arrested and arraigned today in New York.

    “The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” said John A. Eisenberg, Assistant Attorney General for National Security. “The Department of Justice will not hesitate to bring to justice those who imperil our national security by enabling our foreign adversaries to sidestep sanctions and export controls.”

    “As alleged, Gugnin came to the United States and set up a money laundering operation under the guise of a cryptocurrency start-up, which he then used to evade sanctions and export controls and defraud U.S. financial institutions,” said U.S. Attorney Joseph Nocella Jr. for the Eastern District of New York. “Today’s arrest demonstrates that this Office will vigorously prosecute those who abuse the U.S. financial system in furtherance of criminal activity, particularly when it undermines national security.”

    “Gugnin’s cryptocurrency company allegedly served as a front to launder hundreds of millions of dollars for sanctioned Russian entities and to obtain export-controlled technology for the Russian government,” said Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division. “Let this serve notice that using cryptocurrency to hide illegal conduct will not prevent the FBI and our partners from holding you accountable.”

    As alleged in the indictment, Gugnin is the founder, President, Treasurer, and Compliance Officer of U.S-based Evita Investments Inc. (Evita Investments) and Evita Pay Inc. (Evita Pay) (collectively, Evita). Gugnin used both companies to enable foreign customers — many of whom held funds at sanctioned Russian banks — to provide him with cryptocurrency, which he then laundered through cryptocurrency wallets and U.S. bank accounts. Gugnin ultimately converted the funds into U.S. dollars or other fiat currencies and then made payments through bank accounts in Manhattan on behalf of his foreign customers. In the process, the sources of the funds were obscured, disguising the audit trail and hiding the true counterparties to the transactions. Between June 2023 and January 2025, Gugnin used Evita to facilitate the movement of approximately $530 million through the U.S. financial system, most of which he received in the form of a cryptocurrency stablecoin known as Tether, or “USDT.”

    To effectuate the scheme, Gugnin defrauded various banks and cryptocurrency exchanges through which he converted funds and made wire transfers. Gugnin repeatedly lied to these banks and exchanges, telling them that Evita did not conduct business with entities in Russia and did not deal with sanctioned entities. In fact, many of Gugnin’s customers were located in Russia, and he facilitated payments in funds held at sanctioned Russian banks, including PJSC Sberbank, PJSC Sovcombank, PJSC VTB Bank, and JSC Tinkoff Bank. Gugnin maintained personal accounts at two sanctioned Russian banks, JSC Alfa-Bank and PJSC Sberbank, with which he transacted while residing in the United States. Gugnin also facilitated payments by foreign customers to procure sensitive electronics, including an export-controlled server designed by a U.S. technology company, and laundered funds from a Moscow-based supplier to purchase parts for Rosatom, Russia’s state-owned nuclear technology company. To conceal his activities, Gugnin regularly obfuscated invoices by digitally “whiting out” the names and addresses of his Russian customers.

    Gugnin also failed to implement Evita’s own purported anti-money laundering program and failed to file suspicious activity reports, as required under the Bank Secrecy Act. Although Gugnin represented to banks and cryptocurrency exchanges that Evita followed rigorous anti-money laundering and know-your-customer requirements, in practice he flouted those requirements, as well as the requirement to file reports of suspicious activities with the Financial Crimes Enforcement Network (FinCEN). Gugnin ultimately registered Evita Pay as a money transmitter with FinCEN and the state of Florida but did so by making materially false statements to the state of Florida about Evita Pay’s business. Gugnin used that fraudulently obtained state license to induce a cryptocurrency exchange to process transactions on his behalf.

    In the course of his scheme, Gugnin conducted web searches that confirmed his awareness that he was breaking the law, including searches for “how to know if there is an investigation against you”; “evita investments inc. criminal records search”; “Iurii Gugnin criminal records”; “money laundering penalties US”; and “penalties for sanctions violations EU luxury goods.” He also visited website pages titled, respectively “am I being investigated?”; “signs you may be under criminal investigation”; and “what are the best ways to find out if you’re being investigated and what can someone do when they think they might be under investigation.”

    If convicted, Gugnin faces a maximum penalty of 30 years in prison for each count of bank fraud; a maximum penalty of 20 years in prison for each of the wire fraud, IEEPA, money laundering, and related conspiracy counts; a maximum penalty of 10 years in prison for failure to implement an effective anti-money laundering program and failure to file suspicious activity reports; and a maximum penalty of five years in prison for conspiracy to defraud the United States and operating an unlicensed money transmitting business.

    Assistant U.S. Attorney Matthew Skurnik for the Eastern District of New York and Trial Attorney Dallas Kaplan of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Assistant U.S. Attorney Laura Mantell for the Eastern District of New York’s Asset Recovery Section is handling forfeiture matters.

    Today’s actions were coordinated through the Justice and Commerce Departments’ Disruptive Technology Strike Force. The Disruptive Technology Strike Force is an interagency law enforcement strike force co-led by the Departments of Justice and Commerce designed to target illicit actors, protect supply chains, and prevent critical technology from being acquired by authoritarian regimes and hostile nation-states.

    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 Security: Former Chief Financial Officer Pleads Guilty to Theft in Connection with Health Care

    Source: US FBI

    PORTLAND, Ore.—The former Chief Financial Officer of Pacific States Marine Fisheries Commission (PSMFC) pleaded guilty Thursday for stealing money from PSMFC’s health benefit trust account.

    Pamela J. Kahut, 67, of Wilsonville, Oregon, pleaded guilty to theft in connection with health care.

    According to court documents, Kahut, as Chief Financial Officer of PSFMC, had access to and controlled PSMFC’s health benefit trust account that was created to pay benefits, fees, and other charges for PSFMC employees covered under its self-funded health care benefit program.

    On September 21, 2020, Kahut wrote a check in the amount of $2,812.85 from the health benefit trust account to pay for her spouse’s participation in PSFMC’s long-term care insurance program.   

    In total, between October 2014 and September 2020, defendant stole approximately $211,083 from PSMFC’s health benefit trust account. Kahut used the funds to pay for her spouse’s long-term care annual premiums, pay off her pension loans, and to pay her credit card bills.

    Theft in connection with health care fraud is punishable up to 10 years in federal prison and three years’ supervised release.  The charge may also result in a fine of up to $250,000 or twice the gross gains or losses resulting from the offense.

    Kahut will be sentenced on September 3, 2025, before a U.S. District Judge.

    This case was investigated by the FBI, U.S. Department of Commerce Office of Inspector General, and U.S. Department of Energy Office of Inspector General.  It is being prosecuted by Robert Trisotto, Assistant U.S. Attorney for the District of Oregon.

    MIL Security OSI –