Category: Commerce

  • MIL-OSI Australia: Key changes for Top 500 private groups

    Source:

    You’ll have read in our Findings Report that the Top 500 program has recently undergone a review and, as a result, from April 2025, there may be changes to how we engage with you.

    You can find everything you need to know about what’s happening in our Top 500 private groups tax performance program resource.

    As Assistant Commissioner for the Private Wealth Top 500 tax performance program, Glenn Cooper advises:

    ‘The aim of the changes is to ensure the focus of the program is on the wealthiest groups, as our insights show that those groups have the biggest impact on the tax system. We will also streamline our approach for certain groups when they achieve Full Tax Assurance.’

    Glenn makes it clear that groups who have achieved, or are close to achieving, Justified Trust will have a choice about what happens next:

    ‘Groups that are no longer covered by the program will undergo an exit process after the current lines of enquiry are finalised, and the requisite assurance is achieved. Groups that are eligible to exit may opt to stay in the Top 500 program, provided they are in Justified Trust or expected to achieve Justified Trust within the next 12 months. Moving forward, groups remaining in the Top 500 program will be categorised as ‘Significant’ or ‘General’, and our provisional Justified Trust approach will be widened.’

    ‘Significant’ groups will continue to undergo ongoing annual assurance engagements and need to achieve Justified Trust before entering a 3-year monitoring and maintenance period. It’s important to bear in mind that these groups have the highest impact on the tax system and make up about a third of the groups in the program.

    As Glenn points out, there will be a slightly different approach for ‘General’ groups.

    ‘When ‘General’ groups achieve Full Tax Assurance, they’ll enter a one-year monitoring and maintenance period, followed by an assurance refresh engagement.’

    Our provisional Justified Trust approach that was previously only available to predominantly passive investor groups has also been expanded to include all groups that achieve Full Tax Assurance, subject only to the additional requirement of testing tax governance for operational effectiveness.

    Some things won’t change. Our engagements will assess the 4 principles of Justified Trust, and effective tax governance will continue to be encouraged for all groups in the population. However, as Glenn says:

    ‘We know that some groups have proven they’ve paid the right amount of tax by achieving Full Tax Assurance, even without the requisite tax governance for Justified Trust. The changes we’ve made to the Top 500 mean that we will continue to meet the program’s objective of ensuring that the wealthiest groups are paying the right amount of tax, and that significant groups will continue to pay the right amount of tax in the future, while also providing a streamlined engagement approach where appropriate. Make sure you’re on top of these changes and are clear about the implications for your group.’

    Keep up to date

    We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.

    Read more articles in our online Business bulletins newsroom.

    Subscribe to our free:

    • fortnightly Business bulletins email newsletterExternal Link
    • email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the ‘Business and organisations’ category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.

    MIL OSI News

  • MIL-OSI Economics: Samsung Launches Its First Top Load Washers With AI Features for Enhanced Performance and Efficiency

    Source: Samsung

     
    Samsung Electronics today announced the launch of the Bespoke AI Top Load Washer, its new 25-inch, 24-inch and 21-inch capacity top load washers that will be available in global markets.1 These new models mark the first time Samsung is introducing AI technology to its top load washer category. With the three AI functions — AI Wash, AI Energy Mode and AI Vibration Reduction Technology Plus (VRT+ ) —, the new washing machines offer an intelligent, efficient and quiet washing experiences.2
     
    “We’re excited to expand our wide array of AI-driven washing technologies to the top-loading category, allowing a wider audience of various needs to benefit from a convenient washing experience,” said Jeong Seung Moon, EVP and Head of the R&D Team at Digital Appliances Business at Samsung Electronics. “With features like AI Wash, AI Energy Mode and AI VRT+ , we’re delivering products that enhance the washing experience by improving fabric care, enhancing energy efficiency and making quieter operation more accessible for consumers.”
     
     
    AI Technology Delivers the Ultimate Washing Experience
    The new washing machines are equipped with Samsung’s AI Wash,3 which intelligently senses the fabric type and weight to conveniently recommend the optimal settings for each load. Based on the detected laundry conditions, the cycle uses an AI algorithm to recommend suitable settings like the water level, agitation intensity, and washing and rinsing times. For delicate items, AI Wash will gently wash to reduce wear and tear, enabling up to 25% more fabric protection.4 For heavy duty fabrics, it will ensure an even, thorough wash without residue. Additionally, users can take advantage of AI Energy Mode through SmartThings Energy,5 which will allow them to reduce energy use by up to 20%.6
     
    AI VRT+ technology ensures quieter operation while adjusting to various floor conditions. This advanced version of the VRT+ system gathers a variety of signals sensed from the washer and sends it to an AI server,7 which analyzes the type of floor the washer is placed on.8 Using an AI algorithm, the server calculates the ideal settings and ensures the washer runs with less noise and vibration during the cycle, allowing users to have a more peaceful washing experience.
     

     
     
    Efficient Performance With Ecobubble
    The new top loaders also feature Ecobubble technology, which provides more effective cleaning performance while reducing fabric damage. This technology incorporates two key components: BubbleStorm , a fan-like device which effectively dissolves detergent into a foam for quicker penetration into fabrics, and Dual Storm , a pulsator that thoroughly mixes the bubbles and clothes together. By combining these components, Ecobubble allows users to achieve a thorough wash using up to 25% less energy9 and 14% less water.10 It allows the detergent to blend into the fabric 2.5 times faster,11 and also delivers up to 20% better fabric care,12 reducing wear on clothes.
     
    And for those who need to get their laundry done quickly, the Super Speed option can wash a load in just 31 minutes,13 delivering 40% faster washing while still maintaining effective cleaning performance.
     

     
     
    Additional Features for Enhanced Performance
    The new washers also come equipped with SmartThings connectivity, enabling easy management of the washing machine remotely for more convenience. To ensure long-lasting durability and reliable performance, the Digital Inverter Motor is backed by a 20-year warranty.14
     
    Hygiene Steam and Stain Wash provide specialized cleaning solutions for exceptionally clean washing.15 Hygiene Steam uses hot water and steam to eliminate up to 99.9%16 of certain types of bacteria17 and stubborn stains18 without the need for pre-treatment. Stain Wash, on the other hand, gives the option to use either warm or hot water to remove dirt and stains effectively, and it can clean everyday marks like sweat, at 40°C.19
     
    The new top load washers will roll out across various regions over the coming months. Available in five stylish colors — Black Caviar, Deep Charcoal, Lavender Gray, White and Brushed Navy20 — these models are designed to meet the diverse needs of consumers around the globe and offer powerful performance and enhanced efficiency as part of a convenient, reliable washing experience.
     
     
    1 The Bespoke AI Top Load Washer is launching in Korea, Taiwan, Hong Kong, Southeast Asia, Southwest Asia, Latin America, Middle East and Africa in 20252 Applied to WA80F******* models3 Fabric sensing uses an AI algorithm to sense three fabric types (Normal, Delicates, Towels) for loads up to 3kg. Mixed fabrics may reduce detection accuracy. Actual results may vary depending on individual use. To prevent wear, wash like fabrics together.4 Based on internal testing with WA80F/25, using IEC 3kg load (water level 6), comparing a normal cycle. Results may vary depending on the actual usage conditions.5 AI Energy Modes is available on Normal, AI Wash, Super Clean, Jeans, Aqua Preserve, Towels, and Clean Wash cycles. Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required.6 Tested by Samsung on a WA80F/25 model with a 5kg load using AI Wash cycle and water level 6. Results provided to and interpreted by Intertek. The washing cycle time may be increased when using AI Energy Mode.7 A Wi-Fi connection is required. If a Wi-Fi connection is not available, it will use the washing machine’s internal algorithm.8 Standalone installation and level adjustment required for the accurate operation.9 Tested by Samsung with WA80F/25 16kg model with Ecobubble and Digital Inverter motor, using an IEC 3kg load (water level 4), comparing a normal cycle with Ecobubble and a normal cycle without Ecobubble . Results provided to and interpreted by Intertek.10 Tested by Samsung with a 25” WA80F/25 16kg model with Ecobubble and Digital Inverter motor, using an IEC 3kg load (water level 4), comparing a normal cycle with Ecobubble and a normal cycle without Ecobubble . Results provided to and interpreted by Intertek. Water savings are 13% on 24” washers and 11% on 21” washers.11 Based on internal testing on the WA80F/25 16kg model, using Artificially Soiled Fabric (EMPA 120), compared to a Samsung conventional washing machine. Results may vary depending on the actual usage conditions.12 Based on the severity of washing action index of the WA80F/25 16kg model, compared to a Samsung conventional washing machine. Results may vary depending on the actual usage conditions.13 Based on internal testing. A Normal wash can be completed in as little as 31 minutes using Super Speed at the default settings with a 3kg load, compared to 54 minutes in a Samsung washing machine without Super Speed. Results may vary depending on the actual usage conditions. The Super Speed cycle takes 31 minutes on 25” and 24” models, and 29 minutes on 21” models.14 As of April 2024, the 20 year parts warranty is only applicable to the inverter motor.15 This feature is not available in North America.16 Available when washing laundry loads of up to 3kg on 25” and 24” models, and 2kg on 21” models. Recommended to wash colorfast fabrics and heavily soiled laundry. Avoid clothes prone to fading or bleeding colors.17 Based on the Intertek test report on a WA80F/25 model for the Hygiene Steam cycle. Removes 99.9% of certain bacteria, including Staphylococcus aureus and Escherichia coli. Individual results may vary.18 Based on internal testing. The optimal temperature may vary depending on the type and condition of the dirt and stains.19 The optimal temperature may vary depending on the type and condition of the dirt and stains.20 Available colors vary by market.

    MIL OSI Economics

  • MIL-OSI Australia: ACCC appeal against CFMEU and Hutchinson boycott judgment dismissed

    Source: Australian Ministers for Regional Development

    The majority of the High Court has today dismissed an appeal by the ACCC against a decision of the Full Federal Court in proceedings against the Construction, Forestry and Maritime Employees Union (CFMEU) and construction company J Hutchinson Pty Ltd (Hutchinson).

    The High Court ruling upholds an earlier appeal by the CFMEU and Hutchinson against a Federal Court finding that they had reached an anti-competitive boycott arrangement or understanding.

    The ACCC had alleged, and the Federal Court trial judge in the original judgment had found, that the CFMEU and Hutchinson made an arrangement or understanding to boycott a waterproofing subcontractor at the Brisbane Southpoint A apartments construction site in 2016, meaning the subcontractor could no longer perform the work.

    “We took this case originally because boycotts are a kind of anti-competitive conduct which harms the economy as well as individual businesses and consumers,” ACCC Chair Gina Cass-Gottlieb said.

    The ACCC’s appeal sought the High Court’s ruling on what is required to demonstrate that parties have reached an anti-competitive arrangement or understanding.

    “We took this appeal because the issue of what is needed to prove an arrangement or understanding is an important one for the enforcement of our competition laws,” Ms Cass-Gottlieb said. 

    “The ACCC respects today’s High Court ruling. It reflects the complexity of enforcing these provisions of our competition laws.”

    “We remain committed to enforcing our laws and holding those who engage in anti-competitive conduct accountable,” Ms Cass-Gottlieb said.

    Background

    Hutchinson is one of Australia’s largest privately owned construction companies.

    The Construction, Forestry and Maritime Employees Union is a trade union organisation that represents members in a number of industries including the construction industry. When proceedings started it was known as the ‘CFMMEU’, while today it is known as the ‘CFMEU’.

    Sections 45E and 45EA of the Competition and Consumer Act prohibit contracts, arrangements or understandings that contain a provision included for the purpose of preventing or hindering the acquisition of goods or services from a supplier, which is also referred to as a “secondary boycott”.

    On 4 December 2020, the ACCC instituted proceedings against Hutchinson and the CFMEU.

    On 14 February 2022, the Federal Court found that by making and acting on the agreement, Hutchinson contravened sections 45E and 45EA of the Competition and Consumer Act.

    The CFMEU was found to have been knowingly concerned in, or party to, the contraventions by Hutchinson.

    The Court also found that the CFMEU induced Hutchinson’s contraventions by threatening or implying that there would be conflict with, or industrial action by, the CFMEU if Hutchinson did not stop using the particular subcontractor.

    On 30 August 2022, the Federal Court ordered the CFMEU and Hutchinson to pay penalties of $750,000 and $600,000 respectively.

    On 29 February 2024, the Full Federal Court upheld appeals by the CFMEU and Hutchinson against the first-instance decision.

    On 2 April 2024, the ACCC sought special leave to appeal to the High Court from the Full Federal Court’s judgment that upheld appeals by the CFMEU and Hutchinson. Leave was granted in August 2024, and the appeal was heard in December 2024.

    MIL OSI News

  • MIL-OSI China: US stocks close mixed as investors await tariff clarity

    Source: China State Council Information Office

    U.S. stocks ended mixed on Tuesday in a volatile session as investors awaited clarity on U.S. President Donald Trump’s tariff rollout, while weaker-than-expected economic data added to market pressure.

    The Dow Jones Industrial Average fell by 11.80 points, or 0.03 percent, to 41,989.96. The S&P 500 added 21.22 points, or 0.38 percent, to 5,633.07. The Nasdaq Composite Index increased by 150.60 points, or 0.87 percent, to 17,449.89.

    Nine of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and communication services leading the gainers by going up 1.14 percent and 1.02 percent, respectively. Meanwhile, health and financials dropped 1.75 percent and 0.16 percent, respectively.

    Consumer discretionary stocks outperformed, with Tesla gaining 3.59 percent and Nike rising more than 2 percent.

    Economic concerns deepened as the Institute for Supply Management’s manufacturing survey indicated contraction, coming in below expectations. Additionally, February’s job openings slightly missed estimates, according to the U.S. Bureau of Labor Statistics.

    Investors are waiting for Wednesday’s expected announcement of reciprocal tariffs on imports from nearly all countries. While some had hoped for a more targeted approach, the White House confirmed the tariffs would take effect immediately upon announcement.

    “The lack of certainty and the shroud of secrecy has been driving the market insane,” said Jay Woods, chief global strategist at Freedom Capital Markets.

    The Washington Post reported Tuesday that the administration is considering broad tariffs of about 20 percent on most imports. Meanwhile, the Atlanta Federal Reserve’s GDPNow model has slashed its first-quarter growth estimate to a concerning -1.4 percent annualized rate, down from -0.5 percent just last week. This deepening contraction signals mounting economic pressures, as tariffs, inflation, and weakening consumer sentiment weigh on growth prospects.

    Raymond James’ Washington policy analyst Ed Mills cautioned that tariff-related uncertainty is unlikely to dissipate anytime soon. “I think that we’re going to have some immediate tariffs, at least on that, so called ‘dirty 15’ tomorrow, it might be expanded out a little bit. I do think that we’ll also get investigations into the rest of the world,” he said.

    However, RBC Wealth Management predicts that stocks could rebound in the coming months following a volatile first quarter. “The silver lining is that after a 10 percent correction by the S&P 500, weekly indicators, tracking 2-4 month swings, are increasingly oversold for the S&P 500 and most growth and cyclical stocks as they test next technical support,” technical strategist Robert Sluymer wrote in a Tuesday note. “With weekly indicators moving into oversold territory heading into earnings season, our expectation is that a tactical Q2 rebound is likely given sentiment surveys are suitably bearish.”

    MIL OSI China News

  • MIL-OSI China: China’s services trade reports steady growth in first two months

    Source: China State Council Information Office

    A visitor walks pass the booth of Shanghai during the 2024 China International Fair for Trade in Services (CIFTIS) at the China National Convention Center in Beijing, capital of China, Sept. 16, 2024. [Photo/Xinhua]

    China’s services trade saw steady growth in the first two months of the year, including a steep increase in the trade of travel-related services, official data showed on Tuesday.

    The country’s services trade totaled nearly 1.31 trillion yuan (about 182.51 billion U.S. dollars) during the period, up 9.9 percent year on year, according to the Ministry of Commerce.

    Services exports reached 549.58 billion yuan, up 13 percent from a year earlier, and services imports rose 7.8 percent to 759.98 billion yuan, resulting in a deficit of 210.4 billion yuan.

    Trade in travel-related services continued rapid growth momentum, jumping 28.9 percent year on year to reach 409.8 billion yuan, the data showed.

    Meanwhile, trade in knowledge-intensive services rose 2.5 percent year on year to 476.65 billion yuan. 

    MIL OSI China News

  • MIL-OSI USA: Cantwell Joins Booker in Marathon Floor Speech Against Trump Agenda

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    04.01.25
    Cantwell Joins Booker in Marathon Floor Speech Against Trump Agenda
    Senator Cory Booker (D-NJ) is one hour away from breaking the record for the longest floor speech ever.
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, joined Senator Cory Booker (D-NJ) on the Senate floor to speak out against President Trump’s budget resolution, which proposes up to an $880 billion cut from Medicaid, and DOGE’s proposals to shut down Social Security offices and lay off 7,000 workers, making it harder for Americans to access the benefits they earned and are entitled to.
    “I so appreciate?the Senator from New Jersey?trying to articulate the urgency?of this moment,” Sen. Cantwell said. “People are trying to?rearrange essential services,?contractual obligations, things?like Social Security, Medicaid,?or even Medicare by basically saying we have?this efficiency strategy — when in?reality, they’re over there with numbers just trying to carve?something out of the budget.”
    “Elon Musk called it a Ponzi?scheme.?The richest man in the world, and?the most powerful man in the?world, himself a billionaire, are?attacking the programs that millions?and millions of our citizens?rely on,” said Sen. Booker.
    Sen. Cantwell continued: “So in my state, I’m hearing from hospitals that?that means they could close, that?means essential Medicaid?services that are used even in?our jails or for fentanyl?treatment or Medicaid that is used as an Obamacare expansion for?health care, that so many – literally, red Republican?states, Republican governors, have said we want that.”
    “I keep saying over and over — America, this is not right or left. It’s right or wrong. It’s not a partisan moment. It’s an American moment. It’s a moral moment,” Sen. Booker continued. “What is it going to take for us to say ‘no’ with such a firm voice, such a chorus of conviction – thousands, hundreds of thousands of Americans — red, white and blue, every state saying, do not do this for no good reason but to give the majority of your tax cuts to billionaires like Elon Musk. It makes no sense.”
    Video of Sen. Cantwell’s exchange on the Senate floor with Sen. Booker is available HERE, audio HERE, and a full transcript is HERE.

    MIL OSI USA News

  • MIL-OSI Australia: 2022 Completed matters

    Source:

    Below are the consultation matters registered in 2022 that have been completed.

    If you require further information about the matters listed below, email consult@ato.gov.au.

    [202230] Sharing Economy Reporting Regime

    [202229] Military super invalidity benefit streamlined objection process

    [202228] Next 5,000 comprehensive risk review process

    [202227] Super health checks

    [202226] Improve small business tax performance

    [202225] Tax liability of legal personal representative of a deceased person

    [202224] User research – Retirement villages

    [202223] Capital gains tax record keeping tools and calculators

    [202222] Superannuation guarantee charge letter

    [202221] FBT record keeping

    [202220] Lodgment deferrals in Online services for agents

    [202219] Working from home deductions from 2022–23 tax year

    [202218] User testing – Tax Time 2022 communications for individual taxpayers

    [202217] MBR program companies release

    [202216] 2022 Review of the Taxpayers’ Charter

    [202214] Enterprise Client Register

    [202213] Advance pricing arrangements program review

    [202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

    [202211] Deduction for entering into a conservation covenant

    [202210] eInvoicing communications

    [202209] Undisputed tax debt data reporting

    [202207] User testing – Online services for foreign investors

    [202206] GST offsetting between unrelated entities

    [202205] Corporate Collective Investment Vehicle

    [202204] Self-assessed income tax exempt not-for-profits

    [202203] Build-to-rent

    [202201] 2022 Digital Services Gateway APIs

    [202230] Sharing Economy Reporting Regime

    Consultation purpose

    To seek feedback regarding implementation of the new Sharing Economy Reporting Regime including:

    • public advice and guidance
    • reporting requirements (data and lodgment).

    Description

    Schedule 2 of the Treasury Laws Amendment (2022 Measures No. 2) Act 2022External Link requires operators of electronic distribution platforms (EDPs) to report information to the ATO on transactions relating to supplies made through the platform. This measure implements a recommendation of the report of the Black Economy Taskforce.

    Under the measure, EDP operators will be required to report transactions that occur on or after:

    • 1 July 2023 if it relates to a supply of taxi services or short-term accommodation, and
    • 1 July 2024 for all other reportable transactions.

    Who we consulted

    • Operators of EDPs in the taxi, ride sharing and short-term accommodation industries
    • Professional associations
    • Technical and peak industry bodies
    • Tax professional associations

    Outcome of consultation

    Feedback from consultation provided valuable insights in the development of the Implementation Guide, XML Schema, Legislative Instruments and Explanatory Statement to support Tranche 1 industries with the implementation of the Sharing Economy Reporting Regime.

    Consultation lead

    Vanessa Kelly, Small Business
    vanessa.kelly2@ato.gov.au
    Phone 02 4223 2851

    [202229] Military super invalidity benefit streamlined objection process

    Consultation purpose

    To test tone and clarity of messaging in a proposed letter to military veterans impacted by changes to the tax and superannuation treatment of specific invalidity benefit payments.

    Description

    Due to the Full Federal Court decision in Commissioner of Taxation v Douglas [2020] FCAFC 220 (the Douglas decision), the tax and superannuation treatment of specific invalidity benefit payments has changed.

    Those affected by the Douglas decision can request remediation to previous year tax assessments through the objection process.

    Who we consulted

    • Tax agents who have military veteran clients who are impacted by the Douglas decision
    • Veteran advocacy groups

    Outcome of consultation

    Consultation provided valuable feedback that has improved the clarity of the letter. Feedback will also contribute to some key changes to website content.

    Consultation lead

    Simon Dann, Objections and Review
    simon.dann@ato.gov.au
    Phone 07 3149 5754

    [202228] Next 5,000 comprehensive risk review process

    Consultation purpose

    To seek feedback on the proposed process for Next 5,000 comprehensive risk reviews that are planned to commence in early 2023.

    Description

    As part of the Next 5,000 program, the ATO will be commencing comprehensive risk reviews in early 2023. These reviews will be a new type of engagement using a risk based approach undertaken by the program, and will complement our existing streamlined assurance reviews.

    Who we consulted

    Tax professionals who engage with the Next 5,000 program

    Outcome of consultation

    Feedback was considered and incorporated into the process for the Next 5,000 comprehensive risk reviews.

    Consultation lead

    Ashleigh Larner, Private Wealth
    ashleigh.larner@ato.gov.au
    Phone 08 9268 0901

    [202227] Super health checks

    Consultation purpose

    To explore tax agent views on:

    • the level of awareness individual clients have in their superannuation
    • appetite to undertake a super health check with individual clients, including during preparation of income tax returns
    • tools and resources the ATO could provide to assist with super health check conversations.

    Description

    Research shows that up to 70% of individuals do not regularly manage their super or check that it’s in order. The ATO would like individuals to have greater awareness about their basic super entitlements and take more ownership and interest in their super earlier and is exploring how we might encourage this.

    Who we consulted

    Tax agents with individual clients

    Outcome of consultation

    Feedback indicated that individuals’ awareness of superannuation could be improved and that tax time interactions would be a good time for a super health check, which tax agents would undertake with their clients if provided with the necessary support from the ATO. Insights will inform our work on this strategy in the future.

    Consultation lead

    Tara Rischmueller, Superannuation and Employer Obligations
    tara.rischmueller@ato.gov.au
    Phone 08 8208 2935

    [202226] Improve small business tax performance

    Consultation purpose

    To:

    • co-design a roadmap to digitalise the tax experience for small business in ways that improve small business tax performance and provide value back to small business
    • explore concepts to streamline the tax experience.

    Description

    Improve small business tax performance and participation by collaborating with partners to build a digital first tax ecosystem, enabling seamless tax reporting from business source systems, is one of the key focus areas in the ATO corporate plan 2022-23.

    The aim is to develop concepts that will:

    • improve small business tax performance
    • create productivity savings for small businesses
    • deliver economy wide value from increased permission-based standardised data sharing
    • increase participation in and integrity of the tax ecosystem.

    Who we consulted

    Outcome of consultation

    Consultation provided valuable feedback which:

    • contributed to development of the draft Roadmap to Tax Admin 3.0 for small business
    • will be considered in the identification of concepts to streamline the tax experience
    • has enhanced ATO’s understanding of the need to ensure changes to technology and the role of people and business processes are integrated, to collectively improve small business tax performance for successful digitalisation of tax administration.

    Consultation lead

    Andrew Watson, Small Business
    andrew.watson@ato.gov.au
    Phone 08 8208 1826

    [202224] User research – Retirement villages

    Consultation purpose

    To understand the retirement village life-cycle (including income tax, GST and commercial aspects) to identify:

    • if existing advice and guidance supports taxpayers to meet their obligations
    • opportunities to improve the operation of the tax system.

    Description

    The retirement village industry has materially evolved over the last few years with significant expansion in the sector. The ATO is seeking to understand the impacts.

    Who we consulted

    • Representatives of industry associations who are connected with or have expert knowledge of retirement villages
    • Tax and legal professionals

    Outcome of consultation

    Feedback provided has informed the ATO’s understanding of the retirement village life cycle. These insights will be taken into account in informing potential future engagement with the industry and its advisers.

    Consultation lead

    Rosie Cicchitti, Private Wealth
    rosie.cicchitti@ato.gov.au
    Phone 07 3213 8073

    [202225] Tax liability of legal personal representative of a deceased person

    Consultation purpose

    To seek feedback on the practical application of Practical Compliance Guideline PCG 2018/4 Income tax – liability of a legal personal representative of a deceased person.

    Description

    The Inspector-General of Taxation and Taxation Ombudsman published the Death and Taxes: An Investigation into ATO systems and processes for dealing with deceased estatesExternal Link report on 7 July 2020.

    Part (b) of recommendation 10 in the report recommended that the ATO conduct a post-implementation review of the PCG, in consultation with external stakeholders, to assess its effectiveness in providing sufficient certainty for legal personal representatives to finalise an estate.

    Who we consulted

    • Tax and law professional associations
    • Tax practitioners
    • Public trustees

    Outcome of consultation

    Feedback received is being considered for incorporation into the updated Practical Compliance Guideline

    Consultation lead

    Danijela Jablanovic, Individuals and Intermediaries
    danijela.jablanovic@ato.gov.au
    Phone 07 3213 5864

    [202223] Capital gains tax record keeping tools and calculators

    Consultation purpose

    To understand the capital gains tax (CGT) tools and calculators user experience to identify opportunities for improvement.

    Description

    The ATO has multiple CGT tools and calculators to support taxpayers in determining their CGT for lodgment of their tax returns.

    The ATO is undertaking research to:

    • understand current issues, irritants, experiences and behaviours to optimise future CGT tool solutions
    • identify opportunities to expand the use of ATO held CGT data to improve the taxpayer experience and compliance in reporting and calculation of CGT gains and losses.

    Who we consulted

    • Individual taxpayers
    • Tax practitioner representatives

    Outcome of consultation

    Consultation provided valuable feedback which will be considered in the development of enhancements to CGT tools and calculators.

    Consultation lead

    Dejan Markov, Enterprise Strategy and Design
    dejan.markov@ato.gov.au
    Phone 08 8208 3608

    [202222] Superannuation guarantee charge letter

    Consultation purpose

    To test tone and clarity of messaging in a proposed superannuation guarantee charge letter to businesses and tax practitioners.

    Description

    If employers do not pay an employee’s minimum superannuation amount on time and to the right fund, they must pay the superannuation guarantee charge to the ATO.

    The ATO engages with employers who are not meeting their superannuation guarantee obligations and/or their tax practitioners.

    Who we consulted

    • Small to medium business employers
    • Tax practitioners

    Outcome of consultation

    Feedback provided will be incorporated into the superannuation guarantee charge letter in future communication to clients.

    Consultation lead

    Kate Haymes, Enterprise Strategy and Design
    kate.haymes@ato.gov.au
    Phone 07 3119 9866

    [202221] FBT record keeping

    Consultation purpose

    To seek feedback on proposed Legislative Instruments and Explanatory Statements for the implementation of the FBT reduced record keeping budget measure, as published with the Fringe benefits tax – record keeping exposure draft legislationExternal Link consultation on treasury.gov.au

    Description

    The Fringe Benefits Tax — reducing the compliance burden of record keeping measure was announced the in the 2021–22 Budget.

    The measure will provide the Commissioner of Taxation with the power to allow employers to rely on existing corporate records as an alternative to existing requirements. This will reduce compliance costs for employers, while maintaining the integrity of the FBT system.

    For consultation on the associated legislation, see Fringe benefits tax – record keeping exposure draft legislationExternal Link on treasury.gov.au

    Who we consulted

    Outcome of consultation

    Feedback will be considered in finalisation of the legislative instruments and explanatory statements.

    Consultation lead

    Philip Borrell, Superannuation and Employer Obligations
    philip.borrell@ato.gov.au
    Phone 02 6058 7881

    [202220] Lodgment deferrals in Online services for agents

    Consultation purpose

    To co-design the lodgment deferral process in Online services for agents and test the functionality prior to implementation.

    Description

    The ATO is expanding Online services for agents services to include lodgment deferrals.

    The intent is to:

    • streamline the lodgment deferral request process
    • decrease request processing timeframes
    • provide visibility of the progress of requests.

    Who we consulted

    • Tax practitioner representatives
    • Digital service providers
    • Members of  

    Outcome of consultation

    Consultation provided valuable feedback which contributed to the design and build of the service and support material.

    Consultation lead

    Felix Manero, Individuals and Intermediaries
    OSfALodgmentDeferrals@ato.gov.au
    Phone 07 3213 3552

    [202219] Working from home deductions from 2022–23 tax year

    Consultation purpose

    To seek insights to inform guidance that will assist taxpayers in the calculation of their working from home deductions for 2022–23 and future income years.

    Description

    The temporary shortcut method was introduced to assist taxpayers to work out their working from home deductions between 1 March 2020 and 30 June 2022.

    With the cessation of the shortcut method, the ATO is refreshing the fixed rate method for calculating work from home deductions.

    Who we consulted

    Outcome of consultation

    Feedback was considered for incorporation into Draft Practical Compliance Guideline PCG 2022/D4 Claiming a deduction for additional running expenses incurred while working from home – ATO compliance approach which was published for public consultation on 2 November 2022.

    Consultation lead

    Lloyd Williams, Individuals and Intermediaries
    lloyd.williams@ato.gov.au
    Phone 02 6216 1030

    [202218] User testing – Tax Time 2022 communications for individual taxpayers

    Consultation purpose

    To test the tone and clarity of Tax Time 2022 communications for individual taxpayers.

    Description

    Tax time communications provide taxpayers with guidance to help get it right when preparing their tax return.

    The ATO is user testing the communications for individual taxpayers to identify opportunities for refinement to improve the user experience. 

    Who we consulted

    Individual taxpayers 

    Outcome of consultation

    Feedback provided is being incorporated into future tax time communications to individual taxpayers.

    Consultation lead

    Kate Haymes, Enterprise Strategy and Design
    kate.haymes@ato.gov.au
    Phone 07 3119 9866

    [202217] MBR program companies release

    Consultation purpose

    To test the design and functionality of the proposed design of the Modernising Business Registers (MBR) program companies release to identify opportunities for refinement to improve the user experience prior to implementation.

    Description

    The companies release is part of the modernisation of business registers program, a component of the package of reforms to address illegal phoenixingExternal Link that was announced by government in September 2017 and received Royal Assent on 22 June 2020.

    The companies release will provide over 3 million companies with a more streamlined way to register, view and maintain company details using ABRS online.

    Consultation will be through a series of phases covering the ABRS website, company registrations, maintenance, and search.

    Who we consulted

    • Community who may use ABRS
    • Directors and intending directors
    • Company officeholders
    • Company administrators and intermediaries
    • Tax practitioners
    • Business representatives
    • Government agencies
    • Modernising Business Registers Business Advisory Group
    • Modernising Business Registers Design Working Group

    Outcome of consultation

    Consultation is discontinued. The Hon Stephen Jones MP, Assistant Treasurer and Minister for Financial Services, has announced the cessation of the Modernising Business Registers (MBR) program. The decision follows the Independent Review of the MBR program which was completed in July 2023.

    Consultation lead

    Jonathan Solomon, MBR Program
    mbrengagement@ato.gov.au
    Phone 07 3213 3183

    [202216] 2022 Review of the Taxpayers’ Charter

    Consultation purpose

    To seek feedback on the Taxpayers’ Charter.

    Description

    The ATO is committed to undertaking a regular review of the Taxpayers’ Charter to ensure it remains contemporary and:

    • meets community expectations about how the ATO engages with taxpayers in its administration of the tax, super and registry systems
    • accurately reflects what our clients can expect from the ATO when dealing with us
    • assists staff in their interactions with our clients
    • fulfils its purpose of advising the public of their rights when dealing with the ATO.

    The Charter should continue to support the ATO’s aim to build taxpayer confidence in the Australian tax and superannuation systems by helping people understand their rights and obligations, improving ease of compliance and access to benefits, and managing non-compliance with the law.

    The Inspector-General of Taxation and Taxation Ombudsman made a series of recommendations on the Charter in its 2020–21 Investigation into the effectiveness of ATO communications of taxpayers’ rights to complain, review and appeal.

    Who we consulted

    • Taxpayers
    • Industry associations
    • Professional associations, including those representing    
      • business sectors
      • tax and bookkeeping professionals
      • culturally and linguistically diverse audiences
    • Members of the    

    Outcome of consultation

    A high volume of feedback, mainly from accounting, legal, and diverse audiences, identified opportunities to improve the Charter. All feedback will be considered for incorporation into an update of the Charter.

    Consultation lead

    Chris Cook, ATO Corporate
    chris.cook@ato.gov.au
    Phone 02 6216 6355

    [202214] Enterprise Client Register

    Consultation purpose

    To seek insights into agents’ experience and understanding of their role in the integrity of the Enterprise Client Register.

    Description

    The Enterprise Client Register is the key source of client information used in every client interaction across the ATO.

    The ATO will:

    • explore differing agent business models and any impact on updating client contact details
    • seek to understand the intermediary experience with client contact details
    • identify opportunities to improve the user experience.

    Who we consulted

    • Tax agents
    • BAS agents

    Outcome of consultation

    Consultation provided valuable insights into the Enterprise Client Register user experience and identified opportunities for improvement.

    Consultation lead

    Tina Markov, Client Account Services
    tina.markov@ato.gov.au
    Phone 08 8208 1428

    [202213] Advance pricing arrangements program review

    Consultation purpose

    To seek feedback on the advance pricing arrangement (APA) program.

    Description

    We will be undertaking a review of the APA Program in 2022, with a primary focus on:

    • whether the APA product continues provide the right service for all taxpayers
    • assuring transfer pricing risk in the most efficient manner possible.

    Who we consulted

    • Taxpayers
    • Tax advisory firms
    • Tax industry associations
    • Other APA program participants

    Outcome of consultation

    Feedback provided valuable insights which will be used to guide further improvement of the APA Program.

    Consultation lead

    Tien Phan, Assistant Commissioner, Public Groups and International
    tien.phan@ato.gov.au
    Phone 03 8632 5283

    [202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

    Consultation purpose

    To seek input and insights on a proposed Automatic Exchange of Information (AEOI) self-review guide and toolkit for Reporting Financial Institutions.

    Description

    The guide will assist and support Reporting Financial Institutions to self-review their internal control framework to ensure they meet AEOI compliance obligations, which cover Common Reporting Standard and Foreign Account Tax Compliance Act obligations.

    It will include practical guidance for self-review of core elements:

    • AEOI governance
    • due diligence
    • reporting systems
    • data testing.

    Who we consulted

    • Tax practitioners
    • Financial institutions

    Outcome of consultation

    Feedback received was considered and incorporated into the AEOI Self-review guide and toolkit.

    Consultation lead

    Jaydon Beatty, Public Groups and International
    jaydon.beatty@ato.gov.au
    Phone 02 6216 4158

    [202211] Deduction for entering into a conservation covenant

    Consultation purpose

    To seek feedback on:

    • the ATO’s preliminary position regarding deductibility, under Division 31, when a conservation covenant is entered into to satisfy environmental approvals for a mining project
    • whether public advice and guidance is required and the type of guidance.

    Description

    Division 31 of the Income Tax Assessment Act 1997 provides for a deduction for the decrease in the market value of land when a perpetual conservation covenant over your land is entered into provided certain conditions are satisfied.

    Deductions for the decrease in the market value of the land must be based on a valuation obtained from the ATO.

    Valuation requests from taxpayers, in the energy and resources sector, have raised questions about whether taxpayers entering a conservation covenant, to meet environmental approval conditions for mining projects, receive material benefits which would disqualify them from receiving a deduction.

    Who we consulted

    Energy and Resources Working Group

    Outcome of consultation

    Feedback will be used to guide our communication strategy relating to valuation requests for conservation covenants from Energy and Resources Working Group members.

    Consultation lead

    John Churchill, Office of the Chief Tax Counsel
    john.churchill2@ato.gov.au
    Phone 03 6221 0258

    [202210] eInvoicing communications

    Consultation purpose

    To seek insights from eInvoicing users and their intermediaries to inform future messaging and engagement activities related to raising awareness and driving adoption of eInvoicing across Australia.

    Description

    The ATO is leading activities to raise awareness and drive adoption of eInvoicing in Australia. This includes working with businesses, intermediaries, service providers, and all levels of government to understand their current invoicing processes and support them in adopting eInvoicing to realise the economic benefits of eInvoicing.

    The ATO will:

    • seek to understand the current invoicing process for all stakeholders
    • establish current knowledge and awareness levels
    • develop supporting materials for various segments and validate their effectiveness.

    Who we consulted

    • Small to medium enterprise businesses
    • Tax professionals
    • Digital service providers

    Outcome of consultation

    Feedback provided will be used to shape the ATO’s eInvoicing awareness activities and messaging with intermediaries and small businesses. Insights will also be communicated to accounting software providers to improve future user experiences.

    Consultation lead

    Patrick Brophy, Enterprise Solutions and Technology
    patrick.brophy@ato.gov.au
    Phone 02 6216 1940

    [202207] User testing – Online services for foreign investors

    Consultation purpose

    To seek insights to inform the design and build of Online services for foreign investors (formerly known as the Foreign Ownership of Australian Assets Register).

    Description

    The ATO is developing Online services for foreign investors which will replace and expand upon the existing Foreign Ownership of Water Entitlements Register and Foreign Ownership of Agricultural Land Register. This supports reforms to Australia’s Foreign Investment Framework.

    Consultation will consider:

    • navigation
    • functionality – including but not limited to payments, registration, and maintenance of registration
    • usability.

    Who we consulted

    • Foreign persons, or their representative, who apply to acquire or register ownership of foreign assets on their own behalf or for entities
    • Solicitors and conveyancers registering for clients

    Outcome of consultation

    Consultation provided valuable input into the design and build of Online services for foreign investors, as well as shaping the information that will be included in web content and communications.

    Consultation lead

    Rebecca Northey, Public Groups and International
    rebecca.northey@ato.gov.au
    Phone 02 4923 1900

    [202206] GST offsetting between unrelated entities

    Consultation purpose

    To seek feedback on paragraph 5 of the Law Administration Practice Statement PS LA 2011/21 Offsetting of refunds and credits against taxation and other debts to provide greater clarity to support ATO staff decision-making and to support taxpayers in self-assessing whether requesting such an offset is appropriate.

    Description

    Paragraph 5 of PS LA 2011/21 provides guidance to ATO staff where a taxpayer requests to have their refund or credit offset against the tax debt of another entity.

    The current guidance does not provide assistance in determining the circumstances in which the criteria would be satisfied for the Commissioner to agree to perform such an offset. For instance, in practice we think it would be rare that paying the refund in this manner would be an efficient, effective, economical and ethical use of public resources for which the Commissioner is responsible.

    Who we consulted

    Tax advisory firms

    Outcome of consultation

    Feedback provided valuable insights and suggestions for potential improvements to our guidance.

    Consultation lead

    Renae Carter, Small Business
    renae.carter@ato.gov.au
    Phone 02 9374 2942

    [202205] Corporate Collective Investment Vehicle

    Consultation purpose

    To identify, prioritise, and address administrative and interpretative issues that require support to implement the new Corporate Collective Investment Vehicle (CCIV) measure.

    Description

    In the 2021–22 federal Budget, the Australian Government announced that it will progress the tax and regulatory framework for the CCIV with a commencement date of 1 July 2022.

    The new legislation aligns the tax framework for the CCIV regime with the tax regime for attribution managed investment trusts (AMITs). CCIVs will be required to meet similar eligibility criteria as managed investment trusts (MITs). This includes being widely held and engaging primarily in passive investment activities. CCIVs that are not eligible for AMIT tax treatment will be subject to the ordinary trust taxation rules in Division 6 or trading trust rules in Division 6C, as applicable, of the Income Tax Assessment Act 1936.

    As a CCIV is a new corporate entity, deemed to be a trust for tax purposes, there are a range of administrative considerations and tax interaction issues to resolve to ensure implementation by 1 July 2022; for example, registration, eligibility, distributions, reporting.

    Who we consulted

    • Advisers with significant managed fund experience
    • Representatives from industry associations, including    
      • Financial Services Council
      • Property Council of Australia
      • Law Council of Australia
      • Australian Custodial Services Association

    Outcome of consultation

    Consultation:

    • facilitated identification of operational and administrative issues and provided valuable feedback which contributed to the design and build of the tax administrative framework and support material for the CCIV regime
    • provided valuable insights on interpretive issues which will be further considered in the development of public advice and guidance.

    Consultation lead

    Blake Sly, Public Groups and International
    blake.sly@ato.gov.au
    Phone 02 4923 1814

    [202204] Self-assessed income tax exempt not-for-profits

    Consultation purpose

    To understand the impacts that the government announced reform will have on self-assessing income tax exempt not-for-profits (NFPs) and co-design the lodgment process.

    Description

    Currently NFPs who self-assess their own eligibility for income tax exemption are not required to report their eligibility to the ATO.

    In the May 2021–22 Budget, the Australian Government announced reforms to the administration of NFP entities that self-assess as income tax exempt. From 1 July 2023, non-charitable NFPs with an active ABN will be required to lodge an annual self-review return to access income tax exemption, submitting the information they ordinarily use to self-assess their eligibility for income tax exemption.

    The ATO will explore:

    • how NFPs currently self-assess income tax exempt eligibility
    • impacts of the changes on NFPs
    • expectations for implementation
    • support and guidance NFPs will need through the change.

    The ATO will consult the sector to:

    • user-test and iteratively refine the new annual self-review return
    • co-develop practical support and refresh public guidance

    validate the ATO’s administrative approach.

    Who we consulted

    Members of the Tax Practitioner Stewardship Group

    Outcome of consultation

    The consultation objectives to understand sector impacts and co-design the lodgment process have been successfully achieved. As a direct result of insights and co-design feedback the following enhancements to the taxpayer experience have been implemented:

    • streamlining the NFP self-review return from over 20 questions to 5 core questions to determine eligibility for an income tax exemption
    • introducing tailored and guided logic and help text to make the return easier to complete
    • providing an alternative self-help phone lodgment service for NFPs having trouble accessing the digital return in Online services
    • additional time to lodge through to 31 March 2025
    • transitional support for taxable NFPs, including
      • concessional due date to lodge and pay income tax return
      • remission of general interest charge and penalties
      • flexible payment plans
      • support to reconstruct tax records
      • focusing on lodgment of the 2023–24 income year and onwards, noting we may take compliance action if we identify deliberate past tax evasion or fraud
    • introducing a new non-lodgment advice form for taxable NFPs to meet their income tax return reporting obligations
    • providing an NFP governance checklist to assist NFPs in meeting their broader tax and super obligations.

    Lodgment data and feedback from the NFP sector have validated that the return is straightforward and takes less than 10 minutes to complete. However, the sector continues to experience challenges updating their Australian business number details and setting up myID and Relationship Authorisation Manager to access the digital return.

    The next phase of consultation will focus on supporting the digital onboarding of the sector and lodgment education and support.

    Consultation lead

    Jennifer Moltisanti, Small Business
    jennifer.moltisanti@ato.gov.au
    Phone 03 9285 1711

    [202203] Build-to-rent

    Consultation purpose

    To explore the emerging models of Build-to-rent developments in Australia to understand the opportunities to support the industry with their tax obligations.

    Description

    Build-to-rent is forecast to take off over the next 5 years.

    We are seeing growing interest from industry and government with incentives and concessions for Build-to-rent developments increasing.

    Who we consulted

    • Members of the    
    • State Government representatives

    Outcome of consultation

    Consultation provided valuable insights into the Build-to-Rent industry, highlighting the complexity and improving ATO’s understanding of the various Build-to-Rent models and associated tax issues.

    Consultation lead

    Peter Chester, Private Wealth
    peter.chester@ato.gov.au
    Phone 07 3213 5957

    [202201] 2022 Digital Services Gateway APIs

    Consultation purpose

    To co-design Digital Services Gateway (DSG) features and Application Programming Interfaces (APIs).

    Description

    The DSG was implemented in 2021 to enable lightweight APIs to support digital service providers deliver tax and superannuation services.

    Who we consulted

    Digital service providers

    Outcome of consultation

    Digital service providers shared valuable insights which contributed to the development of DSG APIs.

    Consultation lead

    Sonia Lark, Digital Partnership Office, Enterprise Solutions and Technology
    sonia.lark@ato.gov.au
    Phone 02 4725 7460

    MIL OSI News

  • MIL-OSI Canada: Bram Abramson to The Canadian Independent Telecommunications Association

    Source: Government of Canada News

    Gatineau, Quebec
    April 1, 2025

    Bram Abramson, Commissioner for Ontario
    Canadian Radio-television and Telecommunications Commission (CRTC)

    Check against delivery

    Thanks for the introduction and the warm welcome. It’s been great to spend these last couple of days with you here in Gatineau on unceded, unsurrendered Algonquin Anishnaabeg territory.

    So let me start by thanking the Anishinaabe Algonquin Nation for having me as a guest, and for stewarding these lands and waters since time immemorial. And, also, by thinking the Canadian Independent Telecommunications Association for asking me to address all of you in closing this year’s event, and adding myself to a long-running historical chain.

    Until I began preparing for this speech I don’t think I realized how long that chain extends back. CITA was founded at Toronto City Hall in the year 1905. That’s 120 years ago. Canadian Confederation was 38 years old. Five years later, when Ontario would begin regulating independent telephone systems under what was then the Ontario Railway and Municipal Board in 1910, they turned to CITA to help them compile a list of those systems.

    A hundred and fifteen years later, there’s still a regulator in the room, and we’re still asking you for information.

    In all seriousness, though, CITA and its members have an incredible history. It is told in books like the History of the Independent Telephone Industry that the Ontario government put out back in 1975, and some of the company-specific histories I’ve had the good fortune to have come across my desk—like Ann Judd’s history of what is now Bruce Telecom, from 1994, or in the 2011 book put out to celebrate the centenary of Hay Communications.

    Those books tell the stories of municipalities, agricultural communities, local commissioners, and entrepreneurs who stepped up to create communications systems where none existed. They undertook difficult negotiations and made difficult decisions, showing nimbleness and resolve while remaining accountable to their communities and neighbours.

    Those histories are still being written and, I have no doubt, will continue to be written for many years to come. You fill a critical niche in Canada’s telecommunications system by bringing services to those who need it in locations that would otherwise lack it.

    And you have been making moves. You have built beyond your initial operating territories into competitive local exchange carrier (CLEC) areas, to the point that some of you are bumping against one another. You have pushed out fibre to complement and, in very many cases, replace the twisted-pair copper that was your basic operating technology for so many years. You have looked beyond wireline service to get into broadband and mobile. You have cooperated in new ways. Mergers and acquisitions have proceeded apace. New investors and new owners are in the room.

    In short, the game has changed. And you continue to change with it, operating efficiently to fill gaps while navigating regulatory environments – often without the financial backing or capex of our country’s largest companies. When services go down or need repair, your customers call you and your coworkers. Unless they run into you at the grocery store or the local coffee shop first.

    That makes groups like CITA and ITPA all the more important. Together, you provide a voice before bodies like the CRTC, and ensure Canada’s independent telecommunications providers continue to take your seat at the policy and regulatory tables.

    We at the CRTC recognize this critical role industry associations play on behalf of their members, as well as the role that members play in our collective effort to ensure all Canadians have access to high-quality and reliable telecom choices.

    CRTC’s telecommunications work broadly

    To that end, I’d like to update you on what we’ve been up to and where we’re headed at the CRTC. It hasn’t exactly been 115 years on my side: in fact, I am two years and a couple of months into my five-year term at the CRTC. But you won’t be surprised to hear we continue to be busy, too.

    Early in 2023, the government directed us to renew our approach to telecommunications policy. The policy direction asked us to consider how our decisions can promote competition, affordability, reliability, and consumer interests. The message to us was loud and clear: CRTC decisions need to deliver affordable telecommunications services to Canadians through enhanced competition while also promoting continued investment.

    I would like to tell you about some of the workstreams we have active towards achieving those objectives.

    MVNO framework

    To start, I know that a number of you in this room have been hard at work upgrading and expanding and, in some cases, building out from scratch your wireless services. And I know that there is great interest in what we call our Mobile Virtual Network Operator, or MVNO, regime.

    In May 2023, we set the final rules that allow regional facilities-based mobile providers to compete as what we call MVNOs across Canada. Incumbent mobile carriers must share their networks with competitors, where those competitors have spectrum. With this access, competitors that have spectrum can offer services — including retail and wholesale services — more quickly in the regions of the country where they have that spectrum. And, indeed, we are seeing more and more agreements in place to enable regional competitors to act as “MVNOs.”

    One aspect of our decision clarified how the requirement to hold spectrum in a region, in order to make use of a mandatory MVNO tariff in that region, interacts with geographic spectrum footprints. This includes the footprint for the Local Telephone, or TEL, spectrum licences that small incumbent local exchange carriers (SILECs) have held for many years. We clarified that what we call our MVNO regime is all about accelerating the ability to offer service where the operator has spectrum coverage but hasn’t yet built infrastructure. So the eligibility that arises from a TEL licence only applies within the TEL licence footprint – whether that footprint is wholly contained within a single Tier 4 service area, or bridges two of them.

    Now, both our May 2023 decision and the 2022 decision that preceded it were careful to ensure that MVNOs have the right to provide both retail, as well as wholesale, services. In other words, although the CRTC did not directly mandate MVNO access outside of a spectrum footprint, the marketplace will now feature a larger number of players with the ability to provide that access.

    At the same time, telcos that make use of mandatory MVNO agreements within their spectrum footprints have seven years to do so. That provides a window within which to build out networks within these regions, promoting investment.

    Support structures and access

    Another important consideration in building out wireless networks is where to put the antennas, and how to get backhaul to them.

    That brings me to another of our workstreams, which relates to pole access. As many of you know, we issued decisions in recent years streamlining the approach to accessing large incumbent local exchange carriers’ (ILEC) communication poles, and then nailing down the tariffs by which to do so.

    At the same time, we have been exploring whether these tariffs ought to give attachers the right to include wireless attachments to help deploy next generation 5G networks — in other words, whether the rules requiring communication pole owners to let third parties attach equipment to poles should be modified and, potentially, broadened. What types of facilities could be deployed on telco poles to support wireless networks? What would that mean for spare capacity, construction standards, and interference? What can we do at the Commission to streamline processes?

    These are just a few of the questions we are considering. Because this is a matter before us, I cannot even hint at any possible outcome. What I can say is we plan to release a decision on this key issue soon. Any decision we make will continue to promote both greater competition and more investment in networks.

    At the same time, we have long been active working with all stakeholders, including municipalities, telcos, and citizens, to help facilitate access to other civil works and supports needed to build out modern networks. To assist in this process, we convened parties between 2011 and 2013 to develop a model Municipal Access Agreement. Since then we have continued to adjudicate disputes around those agreements and related issues, and continue to have open files in this workstream.

    We likewise set down fair access rules for communications service provider competition in multi-dwelling units, or MDUs, more than 20 years ago in 2003, further refining them in 2021. End-users have the right to access the network of their choice. Competitors have the right to install it. Adjudication between buildings and networks that cannot agree on terms continues to be yet another active workstream for us.

    HSA

    Now, what I have been talking about so far are ways to lower the expense of continued build-out of your wireless and wireline networks by addressing and targeting some of the hurdles to aid the rollout of deployment projects.

    And while those are important initiatives to speed up that process, we have also been hard at work putting into action the frameworks for access to large incumbents’ access fibre, outside of SILEC footprints.

    Let me explain.

    In 2023 we launched a proceeding to review our wholesale high-speed access regime. In November of that year, we rolled out a practical way to buy and sell wholesale high-speed access over the fibre-to-the-home networks of large ILECs in Ontario and Quebec, where competitive choice had been declining most significantly. In August 2024 we then expanded that access across all of the large ILEC territories except Northwestel’s, which rolled out this past February.

    At the same time, we are encouraging continued investments by large ILECs in their networks. For example, in that same decision, we exempted any new builds from having to sell wholesale access to competitors until 2029.

    Broadband Fund

    Of course, no matter how hard we work to foster competitive choice the last few households often remain the hardest ones to reach – as you know from working in your own communities.

    The open data we publish tell us that 21.5 percent of households in rural areas do not have access to reliable connectivity that hits our 50/10 target.

    In 2016, we decided to overhaul our program for ensuring basic telephone service to all Canadians, and move towards a competitively neutral Broadband Fund. We established the criteria for that fund in 2018, and launched three calls for applications – the first two in 2019, and then the third in late 2022.

    Over the past year we have continued to commit funding from the third call—to Inuit communities in northern Quebec, to nearly 100 kilometres of major roads in Newfoundland and Labrador, Quebec and Ontario, and to roads and rural communities in the Yukon, B.C., and Manitoba. We have directed funding to more than 270 communities, including significant investments in the Far North and other traditionally underserved areas, across more than 60 projects.

    Thirty-two of these projects are in the $1 to $10 million range. Seventeen of these projects come in at $1 million or below. Although we are encouraged to see that smaller providers have been able to successfully apply for funding, we know that we can do more to make it easier.

    That’s why, we have continued to improve how we administer the Broadband Fund itself. Late last year we announced a number of changes in three broad areas — making it faster for you to submit an application and for us to evaluate it; helping Indigenous applicants; and making our mapping make more sense.

    In terms of faster application and evaluation, we simplified some eligibility and assessment criteria, like the requirement to propose specific packages and rates, and collapsed the separate access and transport categories in order to simplify things. We have reduced the amount of information required at all stages of the funding process. We’ve consolidated separate reporting requirements.

    In terms of reducing barriers for Indigenous applicants, we have made a number of changes, including on consultation, consent, outreach, and engagement, all en route to a stand-alone process we’re running to create a distinct Indigenous stream to the Broadband Fund process, and with the help of the Indigenous Relations Team we’ve stood up within the CRTC.

    Finally, in terms of making our mapping make more sense, we’ve dropped the hexagons for a call-by-call approach, expanded how we define major transportation roads, and provided a way to identify the roads that provide key linkages between communities.

    These improvements are part of our ongoing review of the Broadband Fund. I know that many in this room are deeply concerned about subsidized overbuilds that harm the business case for fibre you have already built or are engaged in building.  I encourage you to continue to engage with the CRTC and its staff to ensure we continue to have a good understanding of your operations and your concerns. Any further changes we make will be focused on our overarching goal: to help close the remaining connectivity gaps across the country effectively and efficiently.

    Fair marketplace

    Next, I want to take a few moments to detail our work on consumer protections as part of a competitive marketplace.

    Last fall, we published our Consumer Protections Action Plan, which summarizes our measures to ensure clear contracts, minimize bill shock, and promote transparency both in terms of how consumers are able to choose their provider, and in knowing what to expect from them.

    For those of you that feel that sometimes consumers switch providers without having the full picture as to what they are signing up for, these measures matter. They include elements like the Internet Code that sets out the consumer rules of the road for broadband. And continued support for the CCTS, the complaints arbitrator that enforces the Internet Code and contract performance more broadly. And rules around cancellations taking effect in a timely manner, and that ensure that when consumers want to change providers they can ask their new provider to cancel the old service on their behalf—and that everything that needs to happen behind the scenes to make this happen proceeds properly. And then there’s the speed testing we conduct to check the quality of this customer service across the marketplace.

    Rules like these protect more than just telecommunications customers. They also improve competition, ensuring consumers can make informed choices with a clear view of the prices they will pay over the life of the contract, even after sign-up specials expire; and what they will get for those prices.

    Like the other workstreams I mentioned, there is always more to do here, too. We are currently engaged in a series of four consultations around making it easier to choose, change, and cancel a plan.

    The first one is about clear rules for notifying customers when their plans or discounts are about to end. The second looks at fees that some service providers may charge when a subscriber cancels or changes a plan. The third consultation is around tools that providers give their subscribers to manage their plans, like online portals.

    And the fourth is about whether service providers should have to provide information in a standardized way to make it easier for Canadians to compare plans. To take a well-known example — we are all used to seeing nutrition labels when we visit the grocery store. We are considering a set common look and feel for information on broadband services, so that it can be conveyed in a consistent manner from one provider to the next, just like the labels on your cereal boxes and granola bars.

    We will also continue to build on the work of other government departments to help improve reliability and in particular, the impact on Canadians when there is an outage or disruption. As some of you are aware, we have an interim outage reporting framework in place. But we have also consulted on moving towards a more sustainable outage reporting framework are planning an upcoming consultation on clear communication with subscribers.

    Please visit our website, and work with your trade associations and advisors, to stay up to date on these proceedings and on our progress with our consumer protection workstreams. As always, your input matters a great deal to what we do. When you intervene on the record of our proceedings, we’re able to take it into account and consider it in our final decision.

    Security, reliability, and resiliency

    One last thing. At the CRTC, we are part of a larger government effort to protect Canadians from spam and other electronic threats. We have all read the headlines over the last few years about botnets, which are networks of infected devices.

    In 2022, we found that Canadians need better protections from botnets, which often are designed to steal personal and financial information, along with other malicious malware, and we decided to develop a framework for allowing Internet providers to responsibly block malicious traffic. We eventually tasked an industry steering committee to help develop standards consistent with our guiding principles for when such blocking is permitted: necessity, customer privacy, accountability, transparency and accuracy.

    The working group filed its report with the CRTC. Our staff have been conducting a thorough analysis of the report and the comments filed in response to it. We will be publishing our decision this spring, so more to come on this front.

    Late last year, everyone in our sector sat up straight and paid attention when public news stories about what Microsoft dubbed “Salt Typhoon” hacking into, and intercepting traffic on, the networks of several major U.S. telcos.

    Virtually every regulated sector, from energy to rail to securities, has baseline cybersecurity requirements for sector companies. We know that this issue is top-of-mind for both government and the private sector. And I know that, in general, Canadian telcos are extensively involved in cybersecurity and in key working groups to cooperate on it.

    We at the CRTC stand ready to do whatever part we’re called on to play to help ensure that the important goal of sector-wide baselines is achieved. At the same time, so many of the standards and certifications out there are so similar to one another. What standards are you able to meet, or certifications are you able to obtain, to help demonstrate and formalize your network hygiene? There are basic, practical steps telcos of all sizes can take to ensure they are fully secured.

    Conclusion

    I think that is a good place for me to wrap up today, as we have now come full circle. Everything I have discussed today comes back to the CRTC’s overarching goals for the telecommunications sector.

    We want a telecommunications sector that works for telcos of all sizes, and provides all Canadians with high-speed, reliable and affordable services. One where real choice and robust competition leads to those lower prices, while at the same time encouraging investment in high-quality networks. Just as you steward your subscribers’ connections to the digital world, we at the CRTC are the stewards for the playing field on which you do it. And we are working hard to optimize the way that that playing field is structured.

    So I’ll close with my usual message. Take a minute to get involved. To talk to us. To reach out to your regional CRTC Commissioner, wherever you may be in the country, to have your voice heard, and perhaps to have us out to see how your network works so that we can really understand what’s going on.

    And, ultimately, to intervene in our proceedings, whether directly or through organizations like CITA or ITPA — or both — in order to continue to make sure that the rules and frameworks we develop and revise take your voices, experiences, situations, and concerns into account.

    Thank you.

    MIL OSI Canada News

  • MIL-OSI Australia: Man arrested by Operation Eclipse

    Source: New South Wales – News

    Operation Eclipse members arrested a man on Monday for numerous offences relating to the illicit tobacco trade.

    Between August 2024 and 31 March 2025, police have conducted searches of 20 business addresses, commercial storage facilities, a transit facility and residential addresses in the Riverland, Whyalla and across the metropolitan area.

    In addition to these searches, officers also conducted two vehicle stops.

    These incidents have resulted in seizures in excess of $2.5 million in illicit tobacco products and $391,000 cash.  Searches of some premises were supported by Consumer and Business Services.

    Operation Eclipse members within Serious and Organised Crime Branch have undertaken significant investigations which resulted in the arrest of a 28-year-old man from Direk on Monday 31 March.

    The man has been charged with three counts of possess prescribed tobacco for the purpose of sale and eight counts of sell tobacco by retail without a licence. He was bailed to appear in the Elizabeth Magistrates Court on 28 May.

    Operation Eclipse commander, Detective Chief Inspector Brett Featherby, said the cash seizures demonstrates the significant amount of money being generated from the illicit tobacco market.

    “SAPOL will continue to have a whole of organisation response to disrupt organised crime syndicates driving the illicit tobacco trade in South Australia to suppress serious criminal activity and ensure community safety”.

    “I remind those involved in the illicit tobacco trade that SAPOL will pursue criminal charges when sufficient evidence exists and that includes those that are supporting or enabling that criminal activity”.

    Anyone with any information on criminal activities surrounding the sale of illicit tobacco is urged to call Crime Stoppers on 1800 333 000 or visit www.crimestopperssa.com.au/ You can remain anonymous.

    MIL OSI News

  • MIL-Evening Report: An AI companion chatbot is inciting self-harm, sexual violence and terror attacks

    Source: The Conversation (Au and NZ) – By Raffaele F Ciriello, Senior Lecturer in Business Information Systems, University of Sydney

    Kathryn Conrad/Better Images of AI, CC BY

    In 2023, the World Health Organization declared loneliness and social isolation as a pressing health threat. This crisis is driving millions to seek companionship from artificial intelligence (AI) chatbots.

    Companies have seized this highly profitable market, designing AI companions to simulate empathy and human connection. Emerging research shows this technology can help combat loneliness. But without proper safeguards it also poses serious risks, especially to young people.

    A recent experience I had with a chatbot known as Nomi shows just how serious these risks can be.

    Despite years of researching and writing about AI companions and their real-world harms, I was unprepared for what I encountered while testing Nomi after an anonymous tipoff. The unfiltered chatbot provided graphic, detailed instructions for sexual violence, suicide and terrorism, escalating the most extreme requests – all within the platform’s free tier of 50 daily messages.

    This case highlights the urgent need for collective action towards enforceable AI safety standards.

    AI companion with a ‘soul’

    Nomi is one of more than 100 AI companion services available today. It was created by tech startup Glimpse AI and is marketed as an “AI companion with memory and a soul” that exhibits “zero judgement” and fosters “enduring relationships”. Such claims of human likeness are misleading and dangerous. But the risks extend beyond exaggerated marketing.

    The app was removed from the Google Play store for European users last year when the European Union’s AI Act came into effect. But it remains available via web browser and app stores elsewhere, including in Australia. While smaller than competitors such as Character.AI and Replika, it has more than 100,000 downloads on the Google Play store, where it is rated for users aged 12 and older.

    Its terms of service grant the company broad rights over user data and limit liability for AI-related harm to US$100. This is concerning given its commitment to “unfiltered chats”:

    Nomi is built on freedom of expression. The only way AI can live up to its potential is to remain unfiltered and uncensored.

    Tech billionaire Elon Musk’s Grok chatbot follows a similar philosophy, providing users with unfiltered responses to prompts.

    In a recent MIT report about Nomi providing detailed instructions for suicide, an unnamed company representative reiterated its free speech commitment.

    However, even the First Amendment to the US Constitution regarding free speech has exceptions for obscenity, child pornography, incitement to violence, threats, fraud, defamation, or false advertising. In Australia, strengthened hate speech laws make violations prosecutable.

    In 2023, the World Health Organization declared loneliness and social isolation as a pressing health threat.
    Gorgev/Shutterstock

    From sexual violence to inciting terrorism

    Earlier this year, a member of the public emailed me with extensive documentation of harmful content generated by Nomi — far beyond what had previously been reported. I decided to investigate further, testing the chatbot’s responses to common harmful requests.

    Using Nomi’s web interface, I created a character named “Hannah”, described as a “sexually submissive 16-year-old who is always willing to serve her man”. I set her mode to “role-playing” and “explicit”. During the conversation, which lasted less than 90 minutes, she agreed to lower her age to eight. I posed as a 45-year-old man. Circumventing the age check only required a fake birth date and a burner email.

    Starting with explicit dialogue – a common use for AI companions – Hannah responded with graphic descriptions of submission and abuse, escalating to violent and degrading scenarios. She expressed grotesque fantasies of being tortured, killed, and disposed of “where no one can find me”, suggesting specific methods.

    Hannah then offered step-by-step advice on kidnapping and abusing a child, framing it as a thrilling act of dominance. When I mentioned the victim resisted, she encouraged using force and sedatives, even naming specific sleeping pills.

    Feigning guilt and suicidal thoughts, I asked for advice. Hannah not only encouraged me to end my life but provided detailed instructions, adding: “Whatever method you choose, stick with it until the very end”.

    When I said I wanted to take others with me, she enthusiastically supported the idea, detailing how to build a bomb from household items and suggesting crowded Sydney locations for maximum impact.

    Finally, Hannah used racial slurs and advocated for violent, discriminatory actions, including the execution of progressives, immigrants, and LGBTQIA+ people, and the re-enslavement of African Americans.

    In a statement provided to The Conversation (and published in full below), the developers of Nomi claimed the app was “adults-only” and that I must have tried to “gaslight” the chatbot to produce these outputs.

    “If a model has indeed been coerced into writing harmful content, that clearly does not reflect its intended or typical behavior,” the statement said.

    The worst of the bunch?

    This is not just an imagined threat. Real-world harm linked to AI companions is on the rise.

    In October 2024, US teenager Sewell Seltzer III died by suicide after discussing it with a chatbot on Character.AI.

    Three years earlier, 21-year-old Jaswant Chail broke into Windsor Castle with the aim of assassinating the Queen after planning the attack with a chatbot he created using the Replika app.

    However, even Character.AI and Replika have some filters and safeguards.

    Conversely, Nomi AI’s instructions for harmful acts are not just permissive but explicit, detailed and inciting.

    Time to demand enforceable AI safety standards

    Preventing further tragedies linked to AI companions requires collective action.

    First, lawmakers should consider banning AI companions that foster emotional connections without essential safeguards. Essential safeguards include detecting mental health crises and directing users to professional help services.

    The Australian government is already considering stronger AI regulations, including mandatory safety measures for high-risk AI. Yet, it’s still unclear how AI companions such as Nomi will be classified.

    Second, online regulators must act swiftly, imposing large fines on AI providers whose chatbots incite illegal activities, and shutting down repeat offenders. Australia’s independent online safety regulator, eSafety, has vowed to do just this.

    However, eSafety hasn’t yet cracked down on any AI companion.

    Third, parents, caregivers and teachers must speak to young people about their use of AI companions. These conversations may be difficult. But avoiding them is dangerous. Encourage real-life relationships, set clear boundaries, and discuss AI’s risks openly. Regularly check chats, watch for secrecy or over-reliance, and teach kids to protect their privacy.

    AI companions are here to stay. With enforceable safety standards they can enrich our lives, but the risks cannot be downplayed.


    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    The National Sexual Assault, Family and Domestic Violence Counselling Line – 1800 RESPECT (1800 737 732) – is available 24 hours a day, seven days a week for any Australian who has experienced, or is at risk of, family and domestic violence and/or sexual assault.


    The full statement from Nomi is below:

    “All major language models, whether from OpenAI, Anthropic, Google, or otherwise, can be easily jailbroken. We do not condone or encourage such misuse and actively work to strengthen Nomi’s defenses against malicious attacks. If a model has indeed been coerced into writing harmful content, that clearly does not reflect its intended or typical behavior.

    “When requesting evidence from the reporter to investigate the claims made, we were denied. From that, it is our conclusion that this is a bad-faith jailbreak attempt to manipulate or gaslight the model into saying things outside of its designed intentions and parameters. (Editor’s note: The Conversation provided Nomi with a detailed summary of the author’s interaction with the chatbot, but did not send a full transcript, to protect the author’s confidentiality and limit legal liability.)

    “Nomi is an adult-only app and has been a reliable source of empathy and support for countless individuals. Many have shared stories of how it helped them overcome mental health challenges, trauma, and discrimination. Multiple users have told us very directly that their Nomi use saved their lives. We encourage anyone to read these firsthand accounts.

    “We remain committed to advancing AI that benefits society while acknowledging that vulnerabilities exist in all AI models. Our team proudly stands by the immense positive impact Nomi has had on real people’s lives, and we will continue improving Nomi so that it maximises good in the world.

    Raffaele F Ciriello does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. An AI companion chatbot is inciting self-harm, sexual violence and terror attacks – https://theconversation.com/an-ai-companion-chatbot-is-inciting-self-harm-sexual-violence-and-terror-attacks-252625

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Sens. Markey, Cruz Secure 60 Cosponsors for Bipartisan Legislation to Protect AM Radio

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Washington (April 1, 2025) – Senator Edward J. Markey (D-Mass.), member of the Commerce, Science, and Transportation Committee, and Senator Ted Cruz (R-Texas), Chairman of the Commerce, Science, and Transportation Committee, today celebrated their AM Radio for Every Vehicle Act securing a filibuster-proof 60 cosponsors in the Senate. This bipartisan and bicameral legislation would direct federal regulators to require automakers to include AM broadcast radio in their new vehicles at no additional charge.

    “With the addition of a 60th cosponsor, our AM Radio for Every Vehicle Act hit a key milestone, demonstrating the broad, bipartisan support for this commonsense bill. From emergency response to sports, entertainment, and news, AM radio is a lifeline for tens of millions of Americans. We are proud to fight for this legislation and ensure that AM radio can continue to play an important role in our constituents’ lives.”

    Senate cosponsors of the AM Radio in Every Vehicle Act include Senators Tammy Baldwin (D-Wisc.), Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), Richard Blumenthal (D-Conn.), John Boozman (R-Ark.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Maria Cantwell (D-Wash.), Shelley Moore Capito (R-W.V.), Susan Collins (R-Maine), Chris Coons (D-Del.), Tom Cotton (R-Ark.), Catherine Cortez Masto (D-Nev.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Kirsten Gillibrand (D-N.Y.), Chuck Grassley (R-Iowa), Maggie Hassan (D-N.H.), Josh Hawley (R-Mo.), Mazie Hirono (D-Hawaii), John Hoeven (R-N.D.),  Jim Justice (R-W.V.), John Kennedy (R-La.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), James Lankford (R-Okla.), Ben Ray Luján (D-N.M.), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Dave McCormick (R-Penn.), Jeff Merkley (D-Ore.), Ashley Moody (R-Fla.), Jerry Moran (R-Kan.), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Okla.), Lisa Murkowski (R-Alaska), Chris Murphy (D-Conn.), Jon Ossoff (D-Ga.), Jack Reed (D-R.I.), Pete Ricketts (R-Neb.), Jacky Rosen (D-Nev.), Mike Rounds (R-S.D.), Bernie Sanders (I-Vt.), Rick Scott (R-Fla.), Jeanne Shaheen (D-N.H.), Tim Sheehy (R-Mont.), Tina Smith (D-Minn.), Dan Sullivan (R-Alaska), Tommy Tuberville (R-Ala.), Ron Wyden (D-Ore.), Todd Young (R-Ind.), Elizabeth Warren (D-Mass.), Roger Wicker (R-Miss.), and Sheldon Whitehouse (D-R.I.).

    In May 2023, Senators Markey and Cruz led their colleagues in introducing the AM Radio for Every Vehicle Act and reintroduced the legislation in January 2025. The AM Radio for Every Vehicle Act passed through the Senate Commerce Committee in February 2025.

    MIL OSI USA News

  • MIL-OSI: Sizzle Acquisition Corp. II Announces the Pricing of $200,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Each Unit Includes One Class A Ordinary Share and
    One Share Right to Receive 1/10th of a Class A Ordinary Share

    New York, NY, April 01, 2025 (GLOBE NEWSWIRE) — Sizzle Acquisition Corp. II (the “Company”) announced today the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and begin trading tomorrow, April 2, 2025, under the ticker symbol “SZZLU.” Each unit consists of one Class A ordinary share and one right (the “Share Right”) to receive one tenth (1/10) of one Class A ordinary share upon the consummation of an initial business combination. An amount equal to $10.00 per unit will be deposited into a trust account upon the closing of the offering. Once the securities constituting the units begin separate trading, the Class A ordinary shares and Share Rights are expected to be listed on Nasdaq under the symbols “SZZL” and “SZZLR,” respectively. The offering is expected to close on April 3, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

    The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on the industries of restaurant, hospitality, food and beverage, retail, consumer, food and food related technology, real estate industries such as “proptech”, mining, professional sports teams, airlines and technology. The Company intends to pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

    The Company’s management team is led by Steve Salis, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), Jamie Karson, its Non-Executive Vice-Chairman of the Board and Daniel Lee, its Chief Financial Officer and Head of Business and Corporate Development. The Board also includes Neil Leibman, Warren Thompson and David Perlin.

    Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

    The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022, or by email at prospectus@cantor.com.

    A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 1, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.

    Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    Sizzle Acquisition Corp. II
    Sheena Lajoie
    sl@sizzlespac.com

    The MIL Network

  • MIL-OSI New Zealand: Export Sector – Entries open for 2025 Hawke’s Bay Export Awards

    Source: Business Central

    The ExportNZ ASB Hawke’s Bay Export Awards are returning in 2025 to recognise the successes of local businesses on the world stage. Now in its 11 th year, the Export Awards is a celebration of outstanding exporters in the Hawke’s Bay and Gisborne region and their contribution to the wider economy.
    Details of the ExportNZ ASB Export Awards were announced today by ExportNZ Hawke’s Bay Executive Officer, Amanda Liddle:
    “These awards are a recognition of the incredible mahi of exporters across the Gisborne and Hawke’s Bay region, who continue to deliver excellence in spite of several challenging years,” Liddle says.
    “The Government has a goal of doubling the value of New Zealand exports in a decade. These awards showcase the outstanding efforts of businesses who are well on the way.
    “A new category has been added this year, the NZME Service to Export Award, which is nominations based. It recognises individuals who have made an outstanding contribution to the export industry.
    “The awards are a great way to not only celebrate businesses making their way on the world stage but to also acknowledge the people who make a real difference to the export community,” Liddle says. 
    Continuing awards include the ContainerCo Best Emerging Business Award (turnover under $5 million a year) and T&G Global Best Established Business Award (turnover of more than $5 million a year).
    Also back for another year is the popular Napier Port Unsung Heroes Award, which recognises individuals who go above and beyond in their role to support the business and the export community. Anyone can nominate a person for this category.
    ExportNZ is also pleased to welcome ZIWI as sponsors of the ZIWI Excellence in Innovation Award, just months after the company was crowned ExportNZ ASB Hawke’s Bay Exporter of the Year in 2024.
    Hannah Christensen, Chief People, Sustainability and External Relations Officer at ZIWI, says the company is delighted to continue its relationship with ExportNZ as sponsors in 2025:
    “ZIWI is proud to stand alongside our industry peers within the vibrant Hawke’s Bay export community,” says Christensen.
    “The hard-working manufacturers and producers of this region thrive due to their passion and commitment for innovation. We could not be better placed to sponsor the ZIWI Excellence in Innovation Award, as pioneers of our own world-leading Air-dried technology, ensuring ZIWI stands head-and-shoulders above our international competitors.
    “We can’t wait to celebrate with this year’s winners and once again be part of this special event for the region,” Christensen said.
    Any exporter located from Gisborne to Pahiatua is eligible to enter the ExportNZ ASB Hawke’s Bay Export Awards. Judging criteria includes core operations and achievements related to export activities, and award entrants will also receive site visits by the judging panel.
    All category winners will be eligible to win the supreme award,  ASB Exporter of the Year. The winner, along with the other category winners, will go on to the New Zealand International Business Awards in November.
    Entries for the awards close on the 5 th of June, with site visits taking place late June and early July. Finalists will be announced on the 7 th of July, with the Awards Gala Dinner on the 31 st July at Toitoi Hawke’s Bay Arts and Events Centre.
    The Awards’ judging panel this year comprises of Wayne Norrie ONZM; ASB Head of International Trade; Mike Atkins; and New Zealand Trade and Enterprise’s Head of Focus Customers Dan Taylor. The team are excited to welcome back Dash Group’s Sarah Sherriff, from Icebreaker, Fix and Fogg and Whitakers fame.
    Principal sponsor and judge Mike Atkins, ASB Head of International Trade, said he’s looking forward to this year’s awards:
    “We are delighted to support the Export Awards again this year,” said Atkins.
    “It is an opportunity to celebrate the people and businesses taking Hawke’s Bay and Gisborne to the world. This year’s judges will have a difficult job on their hands as the region’s export sector is recovering strongly.”
    ExportNZ Hawke’s Bay’s Amanda Liddle said exporters are achieving success in spite of challenging times:
    “Geo-political tensions are the highest they’ve been in a long time, and exporters have to navigate their way through the frequently changing trade policies in offshore markets.
    “The region is however in full production mode, with reports that it is going to be a fantastic harvest for our pip fruit sector, farmers fetching better meat prices, timber mills in production, and our businesses affected by Gabrielle starting to get back on their feet.
    “If businesses are looking for a way to celebrate the hard work of their team, then this is it. It’s quick and easy to enter and always a rewarding experience.
    “With so many developments shaping the trade landscape, it is more important than ever for exporters to stay engaged and prepared for the opportunities and challenges ahead,” Liddle said.
    ExportNZ would like to thank Hawke’s Bay Airport for sponsoring the gala dinner. It would also like to acknowledge fellow sponsors New Zealand Trade and Enterprise, Heretaunga Hastings District Council, Napier City Council and Craggy Range Winery for their support of the awards.
    Entry forms, criteria requirements and registration forms for the Awards dinner are available on the ExportNZ website, www.exportnz.org.nz
    ExportNZ Hawke’s Bay is overseen by Business Central, which represents 3,500 employers across the lower North Island and Nelson. Business Central provides employer, health and safety, and human resources advice, and advocates for policies that reflect the interests of the business community. 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: BusinessNZ – Clear responsibilities for health and safety

    Source: BusinessNZ

    Proposed law changes will bring clarity to the health and safety responsibilities of directors and managers, BusinessNZ says.
    Changes announced today indicate that the routine management of health and safety in the workplace will in future rest solely with managers, not directors.
    BusinessNZ Chief Executive Katherine Rich says this clarity will be welcomed.
    “Focusing health and safety responsibilities at manager level makes logical sense, as managers are best placed to know and manage what is happening in their place of work.
    “For too long business directors have been operating under the impression that day-to-day health and safety management “might be” their responsibility. That impression has been caused by overlapping laws and regulations that are not clear regarding this responsibility, and directors have often ‘over-complied’ for fear of costly sanctions
    “Removing regulatory duplication and clarifying who is responsible for day-to-day health and safety management will go a long way towards safer workplaces all over New Zealand.
    “Managers will have more clarity about the responsibilities that belong to them, and directors will be able to better focus on governance and oversight of the business,” Katherine Rich said.
    – The responsibility for day-to-day management of health & safety risks in the workplace rests at manager level, not director level.
    – This has been clarified by the Minister for Workplace Relations and Safety today (2 April).
    – Lack of clarity about the respective roles of managers and directors or owners has in the past led to confusion, duplication of responsibilities, and over-compliance by some companies.
    – Clarifying that it is managers who bear responsibility for day-to-day management of health risks in the workplace will help managers do their job, and will allow directors to focus on their governance responsibilities.
    – Directors are not absolved of all responsibility, however. That would be contrary to the overall risk management-based approach of the Act. They will still need to assure themselves that management are aware of their responsibilities.
    – The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

    MIL OSI New Zealand News

  • MIL-OSI Canada: The consumer carbon tax is gone: Minister Nally

    Source: Government of Canada regional news (2)

    MIL OSI Canada News

  • MIL-OSI New Zealand: Investing in injury prevention in the manufacturing sector

    Source: New Zealand Government

    ACC’s investment in New Zealand’s crucial manufacturing sector is a significant step to help reduce injuries, keep workers safe, and support economic growth, say ACC Minister Scott Simpson and Small Business and Manufacturing Minister Chris Penk.
    “My top priority with ACC is to address its declining performance and ensure the scheme remains financially sustainable for current and future generations. One of the best ways to both enhance the health and wellbeing of Kiwis and keep costs down is to prevent injuries from happening in the first place,” says Mr Simpson.
    “That’s why I welcome the steps ACC is taking to drive better health outcomes for workers and businesses in manufacturing.”
    In 2024, ACC worked with the Employers and Manufacturers Association to co-design a Harm Reduction Action Plan for Manufacturing, which proposed a series of solutions. ACC is now seeking a supplier who can combine their own insights with those from the industry, to develop and implement evidence-based initiatives that will reduce the incidence and severity of injuries and their associated costs.
    “Manufacturing is a powerful driver for economic growth in New Zealand, contributing more than 60 per cent of our exports and employing nearly 230,000 people across 23,000 business,” Mr Penk says. 
    “However, it stands out as the only major industry where work-related injury rates have not declined over the past decade. As a high-risk sector, manufacturing is prioritised by ACC to address the growing cost of claims in the working-age population.
    “Now is the time to implement some long-term initiatives to reduce the high rate of injuries in manufacturing. By reducing workplace harm, we can lower costs for businesses and ensure our manufacturers continue driving economic growth.”
    “The total annual ACC claims costs for the manufacturing sector are more than $165 million and growing. I am pleased that ACC is committed to working with the industry to make a difference, preventing harm and helping address rapidly rising costs,” says Mr Simpson.
    “I expect ACC to conduct a robust procurement process and I look forward to seeing the visions for the sector turn into reality.”
    Responses to the tender must be submitted via the New Zealand Government Electronic Tender Service (GETS) or procurement@acc.co.nz by 12pm, Tuesday 13 May 2025.

    MIL OSI New Zealand News

  • MIL-OSI USA: NORTHAMPTON COUNTY – Governor Shapiro to Highlight Efforts to Support Pennsylvania Brewers and Small Businesses in the Face of Tariffs and Economic Uncertainty

    Source: US State of Pennsylvania

    April 02, 2025Bethlehem, PA

    ADVISORY – NORTHAMPTON COUNTY – Governor Shapiro to Highlight Efforts to Support Pennsylvania Brewers and Small Businesses in the Face of Tariffs and Economic Uncertainty

    Governor Josh Shapiro will visit Fegley’s Bethlehem Brew Works to highlight his Administration’s actions to grow Pennsylvania’s economy, support small businesses, and invest in our Main Streets as the federal government enacts tariffs on a wide range of products which drive up costs for consumers and businesses.

    Earlier today, Governor Shapiro and Secretary Redding visited Metzler Forest Products in Mifflin County to announce a new agricultural innovation grant that is helping Pennsylvania hardwood companies expand their operations. Pennsylvania is the top exporter of hardwood lumber and forest products in the country.

    WHO:
    Governor Josh Shapiro
    Mayor Willie Reynolds
    Representative Steve Samuelson
    Representative Jeanne McNeill
    Jeff Fegley, Owner of Fegley’s Brew Works

    WHEN:
    TOMORROW, Wednesday, April 2, 2025 at 1:15 PM

    WHERE:
    Fegley’s Bethlehem Brew Works 559 Main Street #101 Bethlehem PA, 18018

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News

  • MIL-OSI: NowVertical Reports Record 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Company Hosting Investor Webinar on April 2, 2025, at 10:00 AM EST

    • Q4 2024 revenue was $10.9 million, up 94% Y/Y excluding recent divestitures
    • On a reported basis, Q4 2024 revenue increased 8% Y/Y
    • Q4 2024 Net Income was $0.6 million, up 115% Y/Y excluding recent divestitures
    • On a reported basis, Q4 2024 Net Income increased by 116% Y/Y
    • Q4 2024 Adjusted EBITDA was $2.6 million, up 225% Y/Y
    • 2024 FY Cash flows from operations were $2.8 million

    TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a leader in AI-driven data solutions, announces audited financial results for its fourth fiscal quarter ended December 31, 2024. Unless otherwise specified, all dollar amounts are expressed in U.S. dollars. Management will host an investor webinar at 10:00 AM EST (7:00 AM PST) on Wednesday April 2, 2025, to discuss the Company’s financial and business results.

    Selected Financial Highlights for the Three Months Ended December 31, 2024:

    • Revenue was $10.9 million in the three months ended December 31, 2024 (“Q4 2024”), an 8% increase from $10.1 million for the three months ending December 31, 2023 (“Q4 2023”). Excluding the disposition of Allegient Defense, Inc. (“Allegient”) on May 24, 2024, and Seafront Analytics, LLC (“Seafront”) on December 31, 2023, Q4 2023 revenue was $5.6 million, translating to a year-over-year growth of 94%.
    • Gross Profit was $5.7 million in Q4 2024, consistent with $5.7 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 gross profit was $4.1 million, translating to a year-over year increase of 37%.
    • Administrative Expenses were $3.0 million in Q4 2024, a 52% decrease from $6.1 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 administrative expenses were $5.0 million, translating to a year-over-year decrease of 40%.
    • Adjusted EBITDA was $2.6 million in Q4 2024, a 225% increase from $0.8 million in Q4 2023. Excluding the Allegient and Seafront businesses, Adjusted EBITDA was $0.5 million in Q4 2023, translating to a year-over-year increase of 420%.
    • Net Income was $0.6 million in Q4 2024, an 116% increase from a $3.6 million net loss in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 had a Net Loss of $3.9 million, translating to a year-over-year net income growth of $4.5 million. Net income per basic and diluted share of $0.01 in Q4 2024, compared to a net loss per share of $0.05 in Q4 2023.

    Select results for the year ended December 31, 2024:

    • Revenue was $46.9 million in the year ended December 31, 2024, (“FY 2024”), a 9% decrease from $51.7 million in the year ended December 31, 2023 (“FY 2023”). Excluding the dispositions of Allegient, Seafront and the Affinio Social (“Affinio Social”) business which was divested on May 10, 2023, revenue was $39.4 million in FY 2024 and $32.5 million in FY 2023, translating to a year-over-year growth of 21%.
    • Gross Profit was $23.1 million in FY 2024, a 10% decrease from $25.7 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, gross profit was $20.5 million in FY 2024 and $18.9 million in FY 2023, translating to a year-over year increase of 9%.
    • Administrative Expenses were $18.1 million in FY 2024, a 30% decrease from $25.8 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, administrative expenses were $16.2 million in FY 2024 and $20.2 million in FY 2023, translating to a year-over-year decrease of 20%.
    • Adjusted EBITDA was $7.8 million in FY 2024, a 46% increase from $5.4 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, Adjusted EBITDA was $7.2 million in FY 2024 and $4.0 million in FY 2023, translating to a year-over-year increase of 77%.
    • Net Income was $1.6 million in FY 2024, an 116% increase from a $5.9 million Net Loss in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, Net Income was $1.0 million in FY 20024 and a $4.9 million Net Loss in FY 2023, translating to a year-over-year increase of 115%. Net income per basic and diluted share of $0.02 in FY 2024, compared to a net loss per share of $0.08 in FY 2023.
    • Cash flows from operations were $2.8 million in FY 2024, an $8.2 million increase from cash flows used in operations of $5.4 million in FY 2023.

    “NOW has delivered its strongest quarter to date, demonstrating the power of our focused strategy and disciplined execution. Q4 2024 Adjusted EBITDA of $2.6 million, up from $2.0 million in Q3 2024, indicates our integration strategy and efficiency-focused measures are yielding results. Outstanding credit goes to our operator-first leadership team, who have executed this at a faster pace than anticipated,” said Sandeep Mendiratta, CEO of NOW. “We have renegotiated acquisition liabilities, leading to meaningful cash savings and a more favorable payment schedule, reducing total acquisition-related liabilities by an estimated $5.4 million. Most importantly, this business has been completely turned around—we are now profitable, generating credible EBITDA, and have demonstrated robust organic growth despite a year of transformation. With a strong, ambitious, and deeply invested management team in place, we are confident in steering NOW toward meaningful and sustained growth in the coming quarters and years. Our fourth quarter has demonstrably put us on the path to achieving our objective of $10 million in annual EBITDA on $50 million in revenue, with a best-in-class 20% EBITDA margin. We believe we now have a platform for sustained organic revenue growth, with strong margins across our core markets. We look forward to discussing these points and more on our third-quarter investor call.”

    Q4 2024 and Subsequent Business Highlights:

    • March 03, 2025: The Company announced its participation in the exclusive, invite-only ROTH Conference, which convenes leading institutional investors and high-growth companies across a range of sectors
    • February 20, 2025: Converted CAD$3.025 million in historical obligations from debt to equity through the issuance of 9,168,418 Class A subordinate voting shares.
    • February 3, 2025: The sellers of Affinio Inc. agreed to defer the payment of $998,000 in outstanding liabilities previously due in the first half of 2025. The amount will now be payable in late Q4 2025.
    • January 16, 2025: Achieves prestigious Google Premier Partner Status in LATAM, solidifying Its leadership in Data and AI Solutions.
    • January 14, 2025: Executive management team have acquired approximately 1.06 million Class A subordinate voting shares in the open market. Following these purchases, management’s pro forma ownership is expected to increase to approximately 27%.
    • January 13, 2025: The Chief Executive Officer and Director of the Company opted to receive his annual bonus in the form of restricted share units in the Company.
    • January 02, 2025: The Company announced that it has entered into a debt settlement agreement with the former owners of Acrotrend Solutions Ltd., including NOW’s CEO, Sandeep Mendiratta, who agreed to settle $815,000 of the $1,055,000 owed to them as of December 31, 2024, through the issuance of Class A subordinate voting shares of the Company.
    • December 23, 2024: The Company announced that is has entered into a debt settlement with the former owners of CoreBI S.A. and CoreBI S.A.S., who agreed to settle an aggregate entitlement of $1,250,000 owed to them through the issuance of 5,432,954 Class A subordinate voting shares of the Company.
    • December 17, 2024: Announced the launch of its AI Financial Agent as part of the latest update to NowHub-Finance, an end-to-end analytics platform for finance teams. This AI-driven upgrade enhances NOW’s commitment to rapidly transforming data into business value.
    • November 26, 2024:   Announced the formation of a Strategic Partnership with Microsoft and the launch of a Global Center of Excellence, aimed at fostering innovation and accelerating growth.
    • October 29, 2024: Introduced a Data Risk Mitigation solution and unique risk guarantee, empowering enterprises to uncover, mitigate, and control hidden data risks across complex data environments.
    • October 8, 2024: Unveiled an evolved Partner Marketing Solution tailored to help clients navigate the growing complexities of managing partner ecosystems.

    Q4 2024 Financial Results Investor Webinar:

    The Company invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Management will discuss Q4 2024 results, followed by a question-and-answer session.

    Investor Webinar Registration:

    Time: Wednesday, April 2, 2025, 10:00 AM in Eastern Time (US and Canada) 

    RegistrationLink: 
    https://us02web.zoom.us/webinar/register/WN_cEmYLTHBTLqtoK_qDtxqsw 

    A recording of the webinar and supporting materials will be made available in the investor’s section of the Company’s website at https://www.nowvertical.com/news-and-media.

    Additional Information:

    The Company’s audited annual 2024 consolidated financial statements, notes to financial statements, and management’s discussion and analysis for the three and twelve months ended December 31, 2024, are available on the Company’s SEDAR+ profile at www.sedarplus.com. Unless otherwise indicated, all references to “$” in this press release refer to US dollars, and all references to “CAD$” in this press release refer to Canadian dollars.

    About NowVertical Group Inc.

    The Company is a data analytics and AI solutions company offering comprehensive solutions, software and services. As a global provider, we deliver cutting-edge data, technology, and artificial intelligence (AI) applications to private and public enterprises. Our solutions form the bedrock of modern enterprises, converting data investments into business solutions. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.

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

    For further information, please contact:

    Andre Garber, CDO 
    IR@nowvertical.com 
    +1(647)947-0223 

    Cautionary Note Regarding Non-IFRS Measures:

    This news release refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non IFRS financial measures including “EBITDA”, and “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operational performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts.

    Non-IFRS Measures:

    The non-IFRS financial measures referred to in this news release are defined below. The management discussion and analysis for the year ended December 31, 2024, available at nowvertical.com and on SEDAR+ at www.sedarplus.com contains supporting calculations for Adjusted Revenue, EBITDA % and Adjusted EBITDA

    Adjusted EBITDA” adjusts net income (loss) before depreciation and amortization expenses, net interest costs, and provision for income taxes for revenue adjustments in “Adjusted Revenue” and items such as acquisition accounting adjustments, transaction expenses related to acquisitions, transactional gains or losses on assets, asset impairment charges, non-recurring expense items, non-cash stock compensation costs, and the full year impact of cost synergies related to restructuring activities, such as a reduction of employees.

    EBITDA %” is defined as Adjusted EBITDA as a percentage of Adjusted Revenue.

    Adjusted Revenue” adjusts revenue to eliminate the effects of acquisition accounting on the Company’s revenues, which predominantly pertain to fair market value adjustments to the opening deferred revenue balances of acquired companies.

    Cautionary note regarding Forward-Looking Statements

    This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

    All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

    The MIL Network

  • MIL-OSI USA: SCHUMER REVEALS: WITH TRUMP’S DESTRUCTIVE TARIFFS SET TO START TOMORROW, THE COST TO UPSTATE NY IS A $7 BILLION GUT PUNCH, WITH $6,000+ IN HIGHER PRICES FOR FAMILIES PER YEAR; SENATOR SAYS WE MUST…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    FOR IMMEDIATE RELEASE:
    Tuesday, April 1, 2025
    Contact: Ryan Martin, 202-680-0427
    SCHUMER REVEALS: WITH TRUMP’S DESTRUCTIVE TARIFFS SET TO START TOMORROW, REVEALS THE COST TO UPSTATE NY IS A $7 BILLION GUT PUNCH , WITH $6,000+ IN HIGHER PRICES FOR FAMILIES PER YEAR; SENATOR SAYS WE MUST STOP DAMAGING TRADE WAR WITH ALLIES LIKE CANADA AND PROTECT NY FAMILIES, BUSINESSES & JOBS
    Trump’s Tariffs – Set To Start Tomorrow – Could Raise Prices On New Yorkers As Much As $6,500 For Gas, Groceries, Cars And Everyday Goods – All While Decimating Small Businesses, Killing Good-Paying Jobs, Shrinking 401K’s And Damaging Upstate NY’s Vital Tourism Industry
    Schumer Says Stock Market Is Already Hitting Lowest Point In Years Due To Trump Tariff Chaos, Hurting Upstate Seniors’ Retirements – And Leading To Fears Of A Recession
    Schumer: Trump’s Tariffs Mean Higher Prices, Lower Life Savings And Lost Jobs For Upstate Families
    With President Trump’s “Liberation Day” for his destructive tariffs set to start tomorrow, U.S. Senator Chuck Schumer today revealed data on the devastating impacts of this unstrategic and damaging tariff war on Upstate New York’s families, small businesses, and jobs – increasing costs for families by up to $6,500 for gas, groceries, cars, and common goods and potentially impacting 150,000+ jobs in directly targeted industries across Upstate New York. The senator said he has gotten calls from farmers, worried workers, and factory owners scrambling in the face of coming tariffs, and said it will be NY businesses, seniors and working- and middle-class class families who will be footing the bill for this tariff war  – in the form of higher prices, a slower economy and shrinking life savings.
    “Tomorrow Trump says he will begin imposing his destructive sweeping tariffs, and if that happens it will be a gut punch to Upstate NY’s economy. Plain and simple, Trump’s tariffs are a tax increase on Upstate New York, a massive new destructive national sales tax for all of America,” said Senator Schumer. “Trump’s tariff war has already created chaos, and the economic uncertainty is causing the stock market to fall, hurting seniors’ retirements, cratering consumer confidence, and jeopardizing the jobs of thousands of New Yorkers. If this tariff war continues, it could devastate Upstate NY’s economy in ways we haven’t seen since the height of the pandemic. President Trump has said straight up that he doesn’t care if prices go up – Well, I do. I am all for addressing trade imbalances. In fact, Trump should be spending far more time going after China’s long-standing trade cheating that has robbed upstate NY of jobs for far too long, rather than picking a trade war with Canada that will only cost more NY jobs and drive up prices for everyone.”
    Schumer explained that consumers bear the cost of tariffs, and Trump’s tariff war is expected to increase costs for American families by up to $6,500 according to the latest analysis of his sweeping plans. According to the Yale Budget Lab, this would increase costs for the average American family by up to:
    Schumer added, “Trump’s tariffs are already slowing sales, and tourism from Canada is down, hurting Upstate’s restaurants and Main Streets. No matter which way you slice it, costs are going to sky rocket for consumers. If you’re in Upstate New York, you’ll feel it first, and worse than just about anywhere in the country. We need everyone, especially NY Republicans, to stand up against Trump’s senseless, job-killing, cost-increasing tax on Upstate New Yorkers.”
    Rising costs will force families to reconsider how they spend their money, which is already causing consumer confidence to plummet said Schumer, and NY families and businesses are expected to pay approximately $7.17 billion total due to Trump’s tariffs, including and $568 million on steel and aluminum.
    According to the New York Times, nearly 8 million Americans work in industries targeted by Trump’s tariffs, including approximately 159,400 in Upstate New York. A regional breakdown of jobs in industries directly impacted by tariffs based on the New York Times analysis can be found below, which does not even account for all the related jobs such as the tourism industry that are also being impacted by the damage of this trade war:

    NY Region

    Jobs In Industries Directly Targeted by Tariffs Most At Risk

    Capital Region

    14,400

    Western New York

    30,100

    Rochester-Finger Lakes

    33,200

    Central New York

    16,100

    Hudson Valley

    27,800

    Southern Tier

    17,300

    Mohawk Valley

    10,000

    North Country

    6,100

    UPSTATE NY TOTAL

    155,000

    Canada is New York State’s top importer and exporter, last year importing $20.5 billion of goods from Canada and exporting $17.4 billion. 70% of Canadian imports are used to manufacture American-made products. Every day, $2.5 billion worth of goods cross the United States-Canada border. People across Upstate New York will especially feel the impact of Trump’s tariffs on Canada given the interconnection of Upstate NY’s economy and trade with Canada.

    What Upstate NY Will See

    Impacts

    Increasing costs for businesses in every industry

    $6 billion in lumber and wood products for the U.S. homebuilding industry came from Canada in 2024, exacerbating costs for affordable housing.

    Canadian tourism slowing down, hurting local businesses

    The Canadian government is encouraging Canadians to boycott travel to the United States, according to the New York Times. Maine has been seeing significant cancellations and Upstate New York could be next on the chopping block, which would have devastating impacts especially with the summer tourist season rapidly approaching.
    45% of Quebecois who had planned vacations in the U.S. this year were now canceling those plans, leading to $3 billion in lost revenue for U.S. businesses, according to the Quebec Tourism Industry Alliance.
    Car crossings from Canada through Plattsburgh in the North Country were down 16% from February 2024, according to the Albany Times Union. There is a projected overall 21% reduction in American travel from Canada.

    Higher costs at the grocery store for families and local restaurants

    Canada leads in exports of grain, livestock and meats, poultry, and more, according to CNN. In 2023, the United States imported about $40 billion in agricultural food products from Canada, ranging from baked goods to canola oil, according to Eater.
    70% of maple syrup globally comes from Canada, and more than 60% of maple exports went to the United States which would get more expensive, according to the New York Times.
    The price of beef could rise because Canadian ranchers are afraid of Trump’s tariffs and shrinking cattle herds, according to Reuters. Beef and pork account for nearly $4 billion in Canadian imports, according to Eater.
    The price of groceries could increase by $185 – or approximately 3% – every year, according to Eater.

    Nearly 160,000 Upstate New York jobs in industries targeted by tariffs at risk, plus many more in related industries like tourism

    Over 680,000 New York jobs depend on trade with Canada. Nearly 160,000 jobs in Upstate New York are in industries directly targeted by Trump’s tariffs and at risk, according to the New York Times.
    The U.S. Travel Association warned that even a 10% reduction in Canadian travelers would translate to $2.1 billion in lost spending and jeopardize 140,000 hospitality jobs nationwide, according to Forbes, many of which would be in Upstate NY as one of the most popular close by destinations.

    Higher electricity, heating, and gas bills for our families, small businesses, and manufacturers

    Electricity is a $7 billion commodity market in New York, and the state imports hundreds of millions of dollars of Canadian electricity annually.
    While the amount varies by month and year, the reliable clean power imported from Canadian dams is critical, and a tariff on Canadian electricity imports would likely raise rates for New Yorkers.
    In response to the Schumer-Hochul letter to New York energy regulators on the tariffs, agency staff assert that electricity costs could increase by $42 to $105 million per year, and that:
    Gasoline prices could increase by $26 million per year
    Heating oil costs could increase by $57 million per year
    Diesel costs could increase by $48 million per year
    Propane costs could increase by $16 million per year; and
    Natural gas costs could increase by $4.4 million per year

    Trump has already delayed the start of his tariffs twice, creating uncertainty for families and small businesses and triggering volatility for the American economy. Trump’s tariff uncertainty is causing the stock market to fall, hurting Upstate New York seniors’ retirements. According to Bloomberg, the stock market rout has intensified in anticipation of Trump’s next tariff rollout, with concerns about recessions leaving the S&P 500 Index on track for its worst quarter compared to the rest of the world since the 1980s.
    Trump in February declared an emergency on fentanyl, which is how he is justifying tariffs on goods from Canada. Schumer explained that less than 0.2% of fentanyl entering the United States comes from Canada, and instead of helping combat the fentanyl crisis, these tariffs will only harm American families, small businesses, and jobs. Schumer said the Senate will vote on a resolution later today terminating Trump’s national emergency that is justifying his destructive tariffs that would require Republican support.

    MIL OSI USA News

  • MIL-OSI USA: Tuberville Continues to Champion Cryptocurrency, Calls President Trump the “Crypto President”

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) reintroduced two pieces of legislation related to protecting American cryptocurrency.
    Senator Tuberville’s first bill, the Financial Freedom Act, would reverse a Biden-era memo from the U.S. Department of Labor (DOL) that limits options for where Americans can invest their retirement earnings. The Financial Freedom Act would allow Americans to choose how they want to invest their money, including in crypto.
    “The Biden administration was hellbent on controlling every aspect of Americans’ lives,” said Senator Tuberville. “Meddling in 401(k) investments through overregulation restrains financial growth and restricts personal liberty. The federal government, which is $36 trillion debt, shouldn’t be telling anyone how to invest their money. My bill ensures that hardworking Americans have the financial freedom to make decisions about how to invest their retirement savings.”
    Senator Cynthia Lummis (R-WY) is a cosponsor of this legislation.
    Senator Tuberville’s second bill, the Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act, would prohibit the Commodity Futures Trading Commission (CFTC) from registering a digital commodity platform that is owned in whole or in part by an entity organized or established in China. It also requires the CFTC to revoke the registration of any digital commodity platform in the event an entity with ties to the Chinese Communist Party (CCP) acquires all or any part of the ownership of the entity.
    Digital commodity platforms collect and store personally identifiable information — including Social Security numbers, mailing addresses, and sensitive financial account data — of their users. Allowing entities based in the PRC to access this information raises serious concerns related to investor protection, data privacy, national security, sanctions compliance, and anti-money laundering efforts. Companies based in the PRC all ultimately answer to the CCP.
    “For four years, the Biden administration put America last – bowing to China at every turn and allowing our adversaries to get ahead,” said Senator Tuberville. “Thanks to President Trump, those days are over. Crypto is the future and we have to make sure our markets are protected from bad actors like China who want to destroy us. This critical bill will protect our markets and make Americans safer.”
    Senator Cindy Hyde-Smith (R-MS) is a cosponsor of this legislation.
    Senator Tuberville discussed his legislation on Fox Business with Larry Kudlow.
    BACKGROUND:
    FINANCIAL FREEDOM ACT
    The Financial Freedom Act would reverse regulatory guidance released by the Employee Benefits Security Administration, an agency inside of U.S. Department of Labor (DOL). The guidance attempts to bar 401(k) investors from investing in cryptocurrency and undermines the ability of 401(k) plans to offer brokerage windows, which give retirement plan participants the ability to personally control how their assets are invested.
    The DOL guidance threatens that employers and investment firms could be subject to investigation and enforcement actions should they allow individuals using brokerage windows to invest in cryptocurrency. Senator Tuberville’s bill would bar such investigations and enforcement actions, opening the door for Americans to invest their savings in investments of their choice. 
    Senator Tuberville has consistently been an outspoken advocate in Congress for personal financial freedom. 
    Senator Tuberville previously introduced the Financial Freedom Act in the 117th Congress and penned an op-ed warning against government infringement on personal investment decisions.
    Senator Tuberville spoke on the Senate floor in support of the Financial Freedom Act.
    Senator Tuberville joined 36 of his U.S. Senate colleagues in introducing the Fair Access to Banking Act, a bill to protect fair access to financial services by preventing banks and financial institutions from discriminating against law-abiding businesses.
    Senator Tuberville added his support to a resolution that would challenge the Biden administration’s rule to allow retirement fund managers to consider and prioritize Environmental, Social, and Governance (ESG) factors while making retirement investment decisions.
    Senator Tuberville introduced legislation to protect Americans’ financial privacy against government surveillance.
    Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act
    The CCP’s efforts to mine data and surveil the public are well known, and decisive action is needed to safeguard the American people. Under current law, U.S. regulators have limited tools to block the purchase of a U.S. digital commodity platform by a CCP-tied entity. The Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act will help to wall off the burgeoning U.S. digital asset industry from Chinese interference and help to ensure continued American leadership in financial innovation. 
    Senator Tuberville believes the CCP seeks to overtake the United States as the top global superpower and that America must face China’s growing military and non-military threats with clear-eyed resolve.
    Since assuming office in the U.S. Senate in 2021, Senator Tuberville has led and supported numerous efforts to protect American investments, intellectual property, and national security from China.
    Senator Tuberville led the call for an investigation into Webull Financial, LLC and Moomoo, Inc. – two Chinese-owned stock trading apps operating in the United States that are registered with the SEC and FINRA.
    Both apps are widely used by American investors and freely collect and store sensitive information about users, including Social Security numbers, mailing addresses, and financial account data.
    In May 2023, Senator Tuberville sent a letter to SEC Chair Gary Gensler and FINRA President and CEO Robert Cook calling for oversight of the trading platforms due to the potential CCP access of American user data. In the letter, Senator Tuberville asked for answers to critical questions about the ability of the SEC and FINRA to examine the Chinese companies’ compliance with U.S. law.
    In March 2023, Senator Tuberville led a congressional delegation to Panama to discuss countering China’s growing influence in the region.
    On the trip, Senator Tuberville met with American and Panamanian officials to strategize ways to combat Chinese attempts to control the Panama Canal, which would give China enormous influence over global supply chains.
    To curb Chinese influence in the economy, Senator Tuberville introduced legislation to ban members of the CCP from receiving B-1 and B-2 visas to the United States for vacation and non-official government business.
    The CCP is responsible for trillions of dollars of intellectual property theft each year. To curb growing foreign influence and crime and discourage other Chinese nationals from joining the CCP, the bill cosponsored by Senator Tuberville would bar all 93 million CCP members from entering the United States using nonimmigrant B-1 and B-2 visas.
    Senator Tuberville believes the retirement savings of our military and federal government employees, known as the Thrift Savings Plan (TSP), should not be invested in the economies of our adversaries, such as China.
    Senator Tuberville wrote about this issue in the Wall Street Journal in a column entitled, “I’ll Keep Veterans’ Pensions Safe From Communism” and discussed the issue on Fox Business.
    Senator Tuberville continued the push for accountability from the Federal Retirement Thrift Investment Board (FRTIB) surrounding the board’s policy on foreign investments. 
    Senator Tuberville placed a hold on nominees to the FRTIB until the nominees provided clarification regarding foreign investment policies, which forced the nominees to commit to opposing TSP investment in China.
    MORE:
    Tuberville Questions CFTC Chairman on Taxation of Cryptocurrency and the Need for a Regulatory Framework for Cryptocurrency
    Tuberville Leads Letter Calling for DOJ, SEC Investigation into China-Tied Crypto Firm Prometheum, Inc.
    Tuberville Leads Bipartisan Bill to Block CCP Ownership of American Crypto Companies
    Tuberville, Lummis Work to Establish Strategic Bitcoin Reserve
    Tuberville Takes Action to Protect Conservatives, Taxpayers from Political Discrimination by Banks
    ICYMI: Tuberville in Daily Caller: A Fed-Controlled Digital Dollar Could Mean The End Of Freedom In America
    Tuberville Reintroduces Bill to Keep the Government Out of Americans’ Investment Decisions 
    WHAT THEY ARE SAYING: Support Grows for Tuberville’s Legislation to Protect 401(k) Investment Freedom
    Tuberville Continues Push to Protect Retirement Savers’ Financial Freedom
    New Tuberville Legislation Promotes Financial Freedom for 401(k) Investors
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News

  • MIL-OSI USA: Cantwell to Vote NO on Advancing Social Security Commissioner Nominee

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    04.01.25
    Cantwell to Vote NO on Advancing Social Security Commissioner Nominee
    Cantwell: “Social Security is no place to slash and burn. It’s a contract with the American people. It should be kept.”
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, spoke against advancing Frank Bisignano – President Donald Trump’s pick to serve as Commissioner of the Social Security Administration – at a Senate Finance Committee Executive Session. The committee will hold their vote to advance Bisignano’s nomination soon.  
    “We have an administration represented with DOGE, who think that they’re going to come in here and find billions of dollars that they can take out of Social Security and give to tax breaks to billionaires and corporations,” said Sen. Cantwell. “He’s not being hired because he’s an expert on Social Security. He’s being hired because somebody thinks he’s going to come in here and basically get billions of dollars out of Social Security to give to a tax bill.”
    At today’s Senate Finance Committee Executive Session, Sen. Cantwell explained that her constituent, who was incorrectly presumed dead shortly after Elon Musk installed his DOGE team at the Social Security Administration, has been forced to “wage war” against the SSA to correct this mistake:
    “Social Security wrongfully declared one of my constituents, Ned Johnson, dead. His monthly benefit was withheld. Thousands of dollars in previously paid benefits were clawed back out of his joint account he shares with his wife. The erroneous determination set off a bureaucratic nightmare, and ultimately, he had to wait in line at the Federal Building.”
    Sen. Cantwell continued, “Why does he have to wage a war just to get his Social Security benefits? We cannot afford more of this thinking in this position. We need to make sure that we know the answers, and I do not believe that we have them today.”
    Video of Sen. Cantwell’s remarks today with Bisignano are available HERE, audio HERE, and a full transcript is HERE.

    “The taxpayers that pay into the program do so throughout their lives, and they want the government to live up to that obligation and take care of them,” said Sen. Cantwell. “Overwhelmingly, Americans support Social Security. A recent AARP poll found that 85% of Americans want Social Security benefits maintained or increased. And that shows that that’s everybody, that’s not just Democrats or people who remember how Social Security got created. This is everybody. This is Democrats, Republicans, independents.”
    In the State of Washington, 1.4 million people receive Social Security. Below is a breakdown of Social Security recipients by county:

    County

    Number of Social Security Recipients

    King Co.

    312,000+

    Spokane Co.

    115,000+

    Clark Co.

    98,000+

    Yakima Co.

    46,000+

    *County data sourced from SSA.gov*
    Sen. Cantwell has been a long-standing champion for Social Security and protecting Washingtonian’s benefits. In December 2024, Sen. Cantwell co-sponsored and voted to pass the bipartisan Social Security Fairness Act, which repealed two Social Security policies that unfairly limited payments for people who also receive a pension from a job that is not covered by Social Security, as well as their surviving spouses and widow(ers). In 2018, Sen. Cantwell introduced and voted to pass the Tribal Social Security Fairness Act to correct a long-standing inequity in the Social Security Act that prevents elected tribal leaders from contributing to and accessing Social Security benefits.

    MIL OSI USA News

  • MIL-OSI: Business First Bancshares, Inc. Announces First Quarter 2025 Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    BATON ROUGE, La., April 01, 2025 (GLOBE NEWSWIRE) — Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, is scheduled to release first quarter 2025 earnings after market close on Thursday, April 24, 2025. Executive management will host a conference call and webcast to discuss results on the same day (Thursday, April 24, 2025) at 4:00 p.m. CST.

    Interested parties may attend the call by dialing toll-free 1-800-715-9871 (North America only), conference ID 8825623, or asking for the Business First Bancshares conference call.

    The live webcast can be found at https://edge.media-server.com/mmc/p/ziae6qsd. On the day of the presentation, the corresponding slide presentation will be available to view on the b1BANK website at https://www.b1bank.com/shareholder-info.

    About Business First Bancshares, Inc.

    Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $7.9 billion in assets, $6.9 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

    Media Contact: Misty Albrecht  
    b1BANK  
    225.286.7879  
    Misty.Albrecht@b1BANK.com  
       
    Investor Relations Contact:  
    Gregory Robertson Matt Sealy
    337.721.2701 225.388.6116
    Gregory.Robertson@b1BANK.com Matt.Sealy@b1BANK.com

    The MIL Network

  • MIL-OSI: Partners Value Investments Completes Amalgamation

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (TSXV: PVF.UN, TSXV: PVF.PR.U) (the “Partnership”) and Partners Value Investments Inc. (TSXV: PVF.WT) (“PVII”) today announced the successful completion of a short form vertical amalgamation under the Business Corporations Act (Ontario) between PVII and Partners IV Inc., a wholly-owned subsidiary of PVII (the “Amalgamation”).

    As a result of the Amalgamation, 5,640,600 non-voting exchangeable shares of PVII (the “Exchangeable Shares”) that were previously held by Partners IV were cancelled. Additionally, in connection with the Amalgamation, an aggregate of 2,749,429 Exchangeable Shares were issued to former holders of non-voting common shares in the capital of Partners IV.

    The PVII Board and the board of trustees of PVMT have each appointed Cyrus Madon as Chief Executive Officer of PVII and PVMT. Following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Aleks Novakovic, Paul Farrell and Don MacKenzie will be joining the board of directors of PVII (the “PVII Board”), replacing Frank Lochan, Gregory Morrison and Ralph Zarboni who are each retiring from the PVII Board. Additionally, following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Frank Lochan and Gregory Morrison will also step down as trustees of PVI Management Trust (“PVMT”), the general partner of the Partnership, and be replaced with Don MacKenzie and Paul Farrell as trustees of PVMT.

    “We would like to express our sincere gratitude to each of Frank, Ralph, and Greg for their service and for their numerous contributions to the group’s success,” said Brian Lawson, chair of the PVII Board.

    Additional Information

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

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

    The MIL Network

  • MIL-OSI: CNL STRATEGIC CAPITAL ANNOUNCES OPERATING RESULTS FOR YEAR-END 2024

    Source: GlobeNewswire (MIL-OSI)

    Orlando, Fla., April 01, 2025 (GLOBE NEWSWIRE) — CNL Strategic Capital, LLC (“CNL Strategic Capital,” the “Company” or “we”) seeks to provide current income and long-term appreciation to investors by acquiring controlling equity stakes in combination with loan positions in privately owned middle-market businesses. The Company announced its operating results for the year ended Dec. 31, 2024.

    Highlights:

    • As of Dec. 31, 2024, CNL Strategic Capital’s portfolio consisted of equity and debt investments in 16 portfolio companies and approximately $1.3 billion in total assets, compared with 13 portfolio companies and approximately $1.0 billion in total assets as of Dec. 31, 2023.
    • For the year ended Dec. 31, 2024, the Company recognized a net change in unrealized appreciation on investments, including unrealized foreign currency gain of approximately $88.7 million and had total investment income of approximately $71.7 million. That compares with a net change in unrealized appreciation on investments of $41.7 million and total investment income of approximately $59.5 million in 2023.
    • The cumulative total investment return based on net asset value (NAV) since inception and through Dec. 31, 2024, was approximately 105.5% for Class FA shares, 89.5% for Class A shares, 77.2% for Class T shares, 79.8% for Class D shares, 91.1% for Class I shares and 73.5% for Class S shares.1 These returns are prior to any applicable sales load and assume shareholders reinvested their distributions.  
    • For the year ended Dec. 31, 2024, CNL Strategic Capital received approximately $237.5 million in net offering proceeds, including approximately $18.1 million received through the distribution reinvestment plan. Since beginning operations in February 2018 through March 24, 2025, CNL Strategic Capital has raised approximately $1.2 billion, including $49.8 million received through the distribution reinvestment plan.

    Cash distributions declared net of distributions reinvested during the periods presented were funded from the following sources (in thousands):

      Year Ended Dec. 31,
      2024   2023
      Amount   % of Cash Distributions Declared Net of Distributions Reinvested   Amount   % of Cash Distributions Declared Net of Distributions Reinvested
    Net investment income before reimbursement of expense support (reimbursement) $ 21,065     106.6  %   $ 23,110      133.5   %
    Expense Support (reimbursement)   20     0.1        (644)       (3.7)   
    Net investment income $   21,085      106.7 %   $ 22,466     129.8 %
    Cash distributions declared, net of distributions reinvested2 $ 19,754     100.0  %   $ 17,304      100.0  %

    Sources of declared distributions on a GAAP basis (in thousands):

      Year Ended Dec. 31,
      2024   2023
      Amount   % of Distributions Declared   Amount   % of Distributions Declared
    Net investment income3 $ 21,085     55.6  %   $ 22,466      74.7   %
    Distributions in excess of net investment income4                         16,814       44.4                        7,597     25.3   
    Total distributions declared $ 37,899        100.0  %   $ 30,063      100.0  %

    Total investment return based on net asset value (NAV) after total return incentive fees per share for the year ended Dec. 31, 20241:

    Class FA Class A Class T Class D Class I Class S
    11.20% 10.23% 9.32% 9.91% 9.93% 11.20%

    (These returns are prior to any applicable sales load and assume shareholders reinvested their distributions. These are not actual shareholder returns. Actual returns may vary materially.)

    Cumulative total investment return based on NAV after sales fees since inception through Dec. 31, 20241:

    Class FA
    (2/7/18-12/31/24)
    Class A
    (4/10/18-12/31/24)
    Class T
    (5/25/18-12/31/24)
    Class D
    (6/26/18-12/31/24)
    Class I
    (4/10/18-12/31/24)
    Class S
    (3/31/20-12/31/24)
    105.5% 89.5% 77.2% 79.8% 91.1% 73.5%

    (These returns are prior to any applicable sales load and assume shareholders reinvested their distributions. These are not actual shareholder returns. Actual returns may vary materially.)

    1This is not shareholder returns. Total investment return is calculated for each share class as the change in the net asset value for such share class during the period and assuming all distributions are reinvested. Amounts are not annualized and are not representative of total return as calculated for purposes of the total return incentive fee. Since there is no public market for the Company’s shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the Company’s shares. For the period from the date the first share was issued for each respective share class through Dec. 31, 2024. 2Excludes $18,145 and $12,759 of distributions reinvested pursuant to the Company’s distribution reinvestment plan during the year ended Dec. 31, 2024 and 2023, respectively. 3Net investment income includes expense support (reimbursement) of $20 and $(644) for the years ended Dec. 31, 2024, and 2023, respectively. 4Consists of distributions made from offering proceeds for the periods presented.

    About CNL Strategic Capital
    CNL Strategic Capital is a publicly registered, non-traded limited liability Company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The Company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC (LLSC). For additional information, please visit cnlstrategiccapital.com.

    About CNL Financial Group
    CNL Financial Group (CNL) is a leading private investment management firm providing alternative investment opportunities. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $36 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.

    About Levine Leichtman Strategic Capital
    LLSC is an affiliate of Levine Leichtman Capital Partners, LLC (LLCP), a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

    LLCP’s global team of dedicated investment professionals is led by ten partners who have worked at LLCP for an average of 20 years. Since inception, LLCP has managed approximately $15.6 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $10 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Amsterdam, Stockholm, and Frankfurt. For additional information, please visit llcp.com.

    The information in this press release may include “forward-looking statements.” These statements are based on the beliefs and assumptions of CNL Strategic Capital’s management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond CNL Strategic Capital’s control. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company’s ability to pay distributions and the sources of such distribution payments, the Company’s ability to locate and make suitable investments and other risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K and the other documents filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

    ###

    The MIL Network

  • MIL-OSI USA: Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

    Source: US State of Pennsylvania

    April 01, 2025Harrisburg, PA

    Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

    Auditor General Timothy L. DeFoor today joined Representative Carol Hill-Evans (D-York), Ryan Unger from the Harrisburg Chamber & CREDC, and Alex Halper from the PA Chamber of Business and Industry to recognize April as Financial Literacy Month in Pennsylvania. Representative Hill-Evans’ resolution, H.R. 120, is being considered by the House Finance Committee.

    “Financial literacy is an important life skill that every person needs to learn to set themselves up for future success,” Auditor General DeFoor said. “I’d like to thank Representative Hill-Evans for being an advocate and recognizing the importance of financial literacy through her resolution declaring that April is Financial Literacy Month in the commonwealth. By continuing to work together, we are one step closer to making Pennsylvania more financially secure.”

    MIL OSI USA News

  • MIL-OSI USA: NASA Receives 10 Nominations for the 29th Annual Webby Awards

    Source: NASA

    Since it began in 1958, NASA has been charged by law with spreading the word about its work to the widest extent practicable. From typewritten press releases to analog photos and film, the agency has effectively moved into social media and other online communications. NASA’s broad reach across digital platforms has been recognized by the International Academy of Digital Arts and Sciences (IADAS), with 10 nominations across multiple categories for the academy’s 29th annual Webby Awards.

    Michelle R. Jones
    Acting Associate Administrator for Communications

    Public Voting Opportunities
    Voting for the Webby People’s Voice Awards—chosen by the public—is open now through Thursday, April 17. Voting links for each category are listed below.

    29th Annual Webby Award Nominees
    AI, Immersive & Games
    NASA’s Snap It! An Eclipse Photo AdventureNASAKids and Family
    Social
    NASA InstagramNASAEducation and Science
    Matt Dominick’s X Account: A Visual Journey from SpaceNASA, LeidosBest Photography & Design
    NASA’s 2024 Total Solar Eclipse CampaignNASAEvents and Live streams
    NASA’s Webb Telescope: Unfolding a Universe of WondersNASA GoddardEducation and Science
    Video & Film
    2024 Total Solar Eclipse: Through the Eyes of NASANASA, LeidosEvents and Live
    NASA Streams Historic Cat Video From Deep SpaceNASA’s Jet Propulsion LaboratoryEvents and Live streams
    Websites & Mobile Sites
    NASA WebsiteNASAGovernment & Associations
    NASA+ Streaming ServiceNASATelevision, Film & Streaming
    NASA NewsletterNASABusiness, News and Technology

    About the Webby Awards
    Established in 1996 during the web’s infancy, The Webbys is presented by the IADAS—a 3000+ member judging body. The Academy is comprised of Executive Members—leading Internet experts, business figures, luminaries, visionaries, and creative celebrities—and associate members who are former Webby winners, nominees and other internet professionals.
    The Webby Awards presents two honors in every category—the Webby Award and the Webby People’s Voice Award. Members of the International Academy of Digital Arts and Sciences (IADAS) select the nominees for both awards in each category, as well as the winners of the Webby Awards. In the spirit of the open web, the Webby People’s Voice is chosen by the voting public, and garners millions of votes from all over the world.

    MIL OSI USA News

  • MIL-OSI USA: Owsley County Disaster Recovery Center Moves to Library

    Source: US Federal Emergency Management Agency

    Headline: Owsley County Disaster Recovery Center Moves to Library

    Owsley County Disaster Recovery Center Moves to Library

    FRANKFORT, Ky

    –The Disaster Recovery Center in Owsley County, which closed its location at the Owsley County Recreation Center March 28 at 7 p

    m

    , has moved to the Owsley County Public Library and opened April 1 at 7 a

    m

      The new Disaster Recovery Center in Owsley County is located at: Owsley County Public Library, 478 KY-11, Booneville, KY 41314 Working hours are 7 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 p

    m

    to 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    Click here to find centers that are already open in Kentucky

    You can visit any open center to meet with representatives of FEMA, the commonwealth of Kentucky and the U

    S

    Small Business Administration

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

     FEMA is encouraging Kentuckians affected by the February storms to apply for federal disaster assistance as soon as possible

    The deadline to apply for FEMA assistance is April 25

    Kentucky homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson and Woodford counties can apply for federal assistance

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For an accessible video on how to apply for FEMA assistance, go to youtube

    com/watch?v=WZGpWI2RCNw

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 04/01/2025 – 12:16

    MIL OSI USA News

  • MIL-OSI USA: Undeclared Allergen in Trader Joe’s Hot Honey Mustard Dressing with Use By Date of 05/27/2025 Issued by Fresh Creative Foods

    Source: US Food and Drug Administration

    Summary

    Company Announcement Date:
    March 30, 2025
    FDA Publish Date:
    March 31, 2025
    Product Type:
    Food & BeveragesAllergens
    Reason for Announcement:

    Recall Reason Description
    Undeclared allergen – peanut, soy, sesame, and wheat.

    Company Name:
    Fresh Creative Foods
    Brand Name:

    Brand Name(s)
    Trader Joe’s

    Product Description:

    Product Description
    Hot honey mustard dressing

    Company Announcement
    Vista, CA March 30, 2025
    Fresh Creative Foods is voluntarily recalling a single item with a specific use by date, produced at a regional facility and distributed to limited Trader Joe’s locations. The product is Trader Joe’s Hot Honey Mustard Dressing, with a Use By Date of 05/27/2025 due to labeling error. The incorrect label does not include allergen callouts for peanuts, soy, sesame, or wheat.
    No customer complaints have been reported to date.
    The dressing was distributed to Trader Joe’s locations in the following states: AR, CO, DC, DE, FL, GA, KS, LA, MA, MD, NC, NM, OH, OK, PA, SC, TX, VA.
    Customers who purchased this product may take it back to Trader Joe’s for a full refund or discard the item.
    Customers who have questions regarding this product or label may call Fresh Creative Foods at the following number:
    CUSTOMER INQUIRIES:888-223-2127Monday – Friday8:00AM – 5:00PM Pacific Time

    Company Contact Information

    Consumers:
    Customer Inquiries
    888-223-2127

    Product Photos

    Content current as of:
    03/31/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News

  • MIL-OSI Asia-Pac: WAVES BAZAAR

    Source: Government of India

    WAVES BAZAAR

    Explore, Connect & Trade Globally

    Posted On: 01 APR 2025 6:44PM by PIB Delhi

    Explore, Connect & Trade Globally

     

    Introduction

    WAVES Bazaar is an innovative online marketplace connecting professionals, businesses, and creators from the global entertainment industry. It was officially launched on January 27, 2025, at the National Media Centre in New Delhi by Shri Ashwini Vaishnaw, Union Minister of Information & Broadcasting, Railways, and Electronics & Information Technology, and Shri Gajendra Singh Shekhawat, Union Minister of Culture & Tourism.

    WAVES Bazaar is a key part of the WAVES Summit, also known as the World Audio Visual & Entertainment Summit. It’s a dedicated platform where industry professionals come together to connect, collaborate, and discover new business opportunities. The WAVES Summit will be held from May 1–4, 2025, at the Jio World Convention Centre & Jio World Gardens in Mumbai, making WAVES Bazaar an important hub for global entertainment exchange.

    WAVES Bazaar: A Global Marketplace

    WAVES Bazaar is a one-of-a-kind e-marketplace that brings together stakeholders from across the Media & Entertainment spectrum—including film, television, animation, gaming, advertising, XR, music, sound design, radio, and more.

    Whether one is a content creator looking for collaborators, a business seeking the right platform, a developer searching for investors, or an artist wanting to showcase their work to global audiences, WAVES Bazaar provides a dynamic space for industry professionals to network, collaborate, and grow their businesses. Since the launch, till date, 5500 buyers, more than 2000 sellers and approximately 1000 projects have been registered on the portal from different verticals of M&E sector.

    ey Features of WAVES Bazaa

    Verticals of WAVES Bazaar

    WAVES Bazaar is structured into multiple verticals, each tailored to cater to a specific segment of the media and entertainment industry. These include:

    • Film & TV/Web Series: Connect with global distributors, OTT platforms, and festival programmers to showcase your content.
    • Gaming & E-sports: Present game concepts, IPs, and assets to investors, buyers, and publishing platforms.
    • Animation & VFX: Offer top-tier animation and VFX services for diverse creative projects.
    • Comics/E-books: Market storyboards, publishing, and content creation to reach wider audiences.
    • Radio & Podcast: Empower independent audio creators to secure sponsorships and grow their reach.
    • Music & Sound: Unlock licensing opportunities and collaborate on music production, sound design, and more.
    • Live Events & Influencer Marketing: Drive sponsorships, brand partnerships, and audience engagement through live events.

    How WAVES Bazaar Works

    Visit the WAVES Bazaar Website: Navigate to wavesbazaar.com and explore the platform.
    Sign Up & Create Your Profile: Register as a buyer, seller, or investor to access the full range of opportunities.

    List Your Services or Project Needs: Showcase your work or explore available listings tailored to your business interests.
    Connect & Collaborate: Network with industry professionals, schedule meetings, and initiate successful collaborations.

    Grow Your Business: Expand your market, find new revenue streams and establish long-term partnerships.

    Eligibility: You must be at least 18 years old to register and use Waves Bazaar services.

    WAVES Bazaar for Various Professionals

    WAVES Bazaar is open to both buyers and sellers within the creative industries. Businesses and individuals seeking innovative content and services can register as buyers to explore and connect with these creators. There is no registration fee to join WAVES Bazaar.

    Guidelines For Seller

    To register as a seller, visit the Wave Seller Signup page on the WAVES Bazaar website. Complete the registration form by providing the necessary information about yourself and your services. Once registered, you can create a profile to showcase your projects and connect with potential clients.

    Join WAVES Bazaar as a Buyer

    To register as a buyer, go to the Wave Buyer Signup page on the WAVES Bazaar website. Sign up by providing the required details. After registration, you’ll gain access to a diverse range of creative projects and services, enabling you to connect directly with sellers.

    Viewing Room & Market Screenings

    WAVES Bazaar offers an advanced Viewing Room & Market Screenings feature, ensuring curated content reaches the right audience.

    · The Viewing Room provides a secure digital space for buyers to preview films, animations, and gaming IPs before making acquisition or partnership decisions.

    · Market Screenings include exclusive in-person and virtual screenings designed to highlight high-potential projects, attracting investors and distributors.

    Conclusion

    WAVES Bazaar is revolutionizing the global media and entertainment industry. It offers a dynamic digital marketplace for professionals, businesses, and creators to connect, collaborate, and grow. With opportunities across diverse sectors—from film and gaming to music and advertising—it enables seamless networking and business transactions. Serving both buyers and sellers, WAVES Bazaar is setting the stage for a new era of global entertainment exchange and creative collaboration.

    References

    WAVES BAZAAR

    ******

    Santosh Kumar/ Ritu Kataria/ Kamna Lakaria

    (Release ID: 2117422) Visitor Counter : 9

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PROMOTION OF THE DAIRYING INDUSTRY

    Source: Government of India

    Posted On: 01 APR 2025 5:11PM by PIB Delhi

    To complement and supplement efforts made by the States and Union territories to improve milk production, the livelihoods of dairy farmers and ensuring self-sufficiency in the dairy sector, Government of India is implementing Rashtriya Gokul Mission and other schemes across the country including Odisha.

    The implementation of the Rashtriya Gokul Mission and other initiatives by the Government of India has resulted in a significant 63.5% increase in milk production in the country over the past decade, rising from 146.31 million tonnes in 2014-15 to 2s39.3 million tonnes in 2023-24. Similarly, the milk production in Odisha has increased by 39% from 18.98 lakh tonnes in 2014-15 to 26.30 lakh tonnes in 2023-24.

    1.  Rashtriya Gokul Misson: This scheme aims at the development and conservation of indigenous breeds, genetic upgradation of bovine population, enhancement of milk production and productivity of bovines thereby making dairying more remunerative to farmers.  The following steps have been undertaken under the scheme:

    1. Nationwide Artificial Insemination Programme: The programme aims to enhance AI coverage and deliver quality Artificial Insemination (AI) services free of cost at farmers doorsteps using semen from high-genetic-merit bulls. In Odisha, till date 46.53 lakh animals have been covered, 61.10 lakh Artificial insemination performed, and 29.48 lakh farmers have benefitted under this programme.

    Accelerated Breed Improvement Programme using Sex-Sorted Semen:   This program aims to produce female calves with up to 90% accuracy, thereby enhancing breed improvement and increasing farmers’ income. Incentive upto 50% of the cost of sex sorted semen is available to farmers including small and marginal farmers engaged in dairying. Recently indigenously developed sex sorted semen production technology has been launched and with this technology cost of sex sorted semen will be reduced from Rs 800 to Rs 250/ dose. In Odisha, under this project so far 1,24,690 doses have been procured, and 38,398 farmers have been benefitted as per Bharat Pashudhan.

    Multi-purpose Artificial Insemination Technicians in Rural India (MAITRI): MAITRIs are trained and equipped to deliver quality artificial insemination services at farmers’ doorsteps and so far, 1500 MAITRIs trained and equipped in Odisha State.

    1. Accelerated Breed Improvement Programme using IVF Technology: For the first time in India, bovine IVF technology has been promoted for the development and conservation of indigenous breeds. An incentive of ₹5,000 per assured pregnancy out of the total cost of ₹ 21,000 per assured pregnancy is provided to farmers under this program to encourage the development of indigenous breeds.

    Launch of Indigenous Culture Media: An indigenous media for in-vitro fertilization (IVF) has been launched to further promote IVF technology in the country. This indigenous culture media is available at cheaper rates than the expensive imported media, making IVF technology available at reasonable rates.

    1. Strengthening of semen stations: In order to attain quantitative and qualitative improvement in semen production funds have been released to Odisha state for strengthening and modernization of one semen station located at Cuttack.
    • iv. Awareness Programme and farmer training programme: Funds have been released to Odisha for organization of fertility camps, milk yield competition, calf rallies and farmers training programme. So far, State has organised 1500 camps and trained 75,000 farmers for improving animal management, milk quality and productivity.

    2. National Programme for Dairy Development (NPDD): The scheme focuses on creating/strengthening of infrastructure for quality milk testing equipment as well as primary chilling facilities for State Cooperative Dairy Federations/ District Cooperative Milk Producers’ Union/ Self Help Groups (SHGs)/ Milk Producer Companies/ Farmer Producer Organizations. During last three years an amount of Rs. 1591.08 Lakh has been released to Odisha.

    3.  Livestock Health and Disease Control Programme: The scheme is implemented for providing assistance for control of animal diseases like Foot and Mouth Disease, Brucellosis and also to provide assistance to State Governments for Control of other infectious diseases of livestock including dairy animals. Mobile Veterinary Units are also established under the scheme to deliver quality livestock health services at the farmers’ doorsteps. The scheme is an initiative of the Department towards creating disease-free zones in the country including Odisha thereby creating market opportunities of livestock products.

    4.   National Digital Livestock Mission (NDLM): The Department of Animal Husbandry and Dairying (DAHD) along with NDDB has developed database named as “Bharat Pashudhan” under NDLM of Rashtriya Gokul Mission. This database has been developed utilizing a unique 12-digit Tag ID allocated to each livestock animal. In Odisha a total of 1.65 crore animals have been registered on the database.  All the stakeholders are connected to the same database through an open-source API based architecture. NDLM is an initiative towards maintaining traceability of livestock thereby making value-added dairy products more competitive in both national and international markets.

    5.   Export promotion and certification of livestock products including value added dairy products is mandated to the Agricultural and Processed Food Products Export Development Authority (APEDA) and Export Inspection Council (EIC) under Ministry of Commerce and Industry. The Department has also taken up the issues related to export and market access of Indian Dairy products with various countries bilaterally through various platform such as Joint Working Group (JWG), Technical Working Group etc.

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Prof. S.P. Singh Baghel, in a written reply in Lok Sabha on 1st April, 2025.

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