NewzIntel.com

Category: Commerce

  • MIL-OSI China: China welcomes U.S. companies to share opportunities

    Source: China State Council Information Office

    Chinese Vice Premier He Lifeng on Friday said that China welcomes enterprises from the United States to share its development opportunities and contribute to the stable, healthy, and sustainable development of China-U.S. ties.

    He made the remarks when addressing the annual appreciation dinner of the American Chamber of Commerce in the People’s Republic of China (AmCham China) in Beijing.

    The vice premier said that China and the United States share broad common interests and space for cooperation, and that bilateral economic and trade relations between the two countries are mutually beneficial in nature.

    He said that China is committed to promoting high-quality development, expanding opening-up at a higher level, and fostering a first-rate business environment that is market-oriented, law-based and internationalized.

    China welcomes U.S. companies to continue to invest in China, He added. 

    MIL OSI China News –

  • MIL-OSI United Nations: Workshop on the utilisation and integration of new data sources for the Consumer Price Index

    Source: United Nations Economic Commission for Europe

    Report PDF
    Agenda PDF
    Session 1. New data sources and collection methods for CPI  
    From survey to multiple source-based CPI, Carsten Boldsen, UNECE PDF
    Development of the CPI in Norway, Randi Johannessen, Norway PDF
    Practices and experiences from the development of the CPI in Switzerland (data sources), Corinne Becker, Switzerland PDF
    Session 2. Scanner data  
    Scanner data, Corinne Becker, Switzerland PDF
    Country practices scanner data, Randi Johannessen, Norway PDF
    Ways of using scanner data for CPI, Randi Johannessen, Norway PDF
    Scanner data: challenges, Corinne Becker, Federal Statistical Office of Switzerland PDF
    Alternative data sources used in Türkiye’s CPI, Hasan ÇİĞ, Turkstat PDF
    Product relaunches, shrinkflation and quality adjustment in scanner data, Ken van Loon, Belgium PDF
    Multilateral Methods in the HICP, Vanda Guerreiro, Eurostat PDF
    Session 3. Web prices and web scraping  
    Web scraping for the CPI: ways of implementation and challenges, Corinne Becker, Switzerland PDF
    Session 4. Administrative data sources  
    Results of the survey on country practices on administrative data sources for CPI, Randi Johannessen, Norway PDF
    Practices and challenges in using administrative data sources for CPI, Randi Johannessen, Norway PDF
    Administrative data source, Corinne Becker, Switzerland PDF
    Session 5. Methodological issues  
    Treatment of seasonal products, Randi Johannessen, Norway PDF
    Aggregation of higher-level price indice, Carsten Boldsen, UNECE PDF
    Session 6. Classification of goods and services in the CPI – changeover to COICOP-18  
    Implementation of ECOICOP ver. 2 in the HICP, Vanda Guerreiro, Eurostat PDF
    Changes in the classification of goods and services in the CPI. Carsten Boldsen, UNECE PDF
    Classification of goods and services in the CPI. Practical part, Corinne Becker, Switzerland PDF
    Session 7. Communication of CPI  
    Disseminating the Consumer Price Index in Georgia, Giorgi Tetrauli, Georgia PDF
    Communication of the CPI in Kazakhstan, Tokbayeva Zhairan, Kazakhstan PDF
    Communication of the CPI, Randi Johannessen, Norway PDF

    MIL OSI United Nations News –

  • MIL-OSI: U.S. Rep. Lou Correa Joins FHLBank San Francisco to Address Affordable Housing Crisis in Orange County

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO and SANTA ANA, Calif., Feb. 28, 2025 (GLOBE NEWSWIRE) — With intent on identifying practical solutions for the growing affordable housing and homelessness crisis in Orange County, U.S. Rep. Lou Correa, (CA-46) hosted a roundtable discussion with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today in Santa Ana, California. The roundtable brought together affordable housing leaders, community organizations, financial institutions and other stakeholders throughout the area to discuss how organizations and public-private partnerships could play a pivotal role to delivering solutions to address the housing crisis in the region.

    “Homeownership is an essential part of the American Dream and represents a tangible pathway for middle-class families in our community build generational wealth,” said Rep. Lou Correa. “Too many families in Orange County struggle to afford housing and make ends meet, which is causing an increase in unhoused people. This roundtable brings together local housing partners that also seek to increase housing supply and make real progress in housing our communities.”

    Rep. Correa has a history of leading on issues related to affordable housing and has secured millions in federal funding for local projects that support affordable housing development, advance homeownership for first time homebuyers and expand supportive housing options. By teaming up with FHLBank San Francisco and its members, he is working to find practical solutions to the local housing crisis.

    We are proud to collaborate with Representative Correa, a long-standing leader with a clear understanding of how complexities surrounding the local housing and real estate market are impacting middle- and lower-income people and families,” said Joe Amato, interim president and chief executive officer, and chief financial officer of FHLBank San Francisco. “We are partnering with community organizations, housing leaders and our member financial institutions to help turn ideas into action to create more affordable housing solutions.”

    Congressman Correa serves as Chair of the Congressional Real Estate Caucus, a bipartisan group focused on housing and real estate policy. He has been a strong advocate for increasing affordable housing options and addressing homelessness in California, supporting policies that expand federal housing assistance programs and streamline funding for local housing initiatives. He also worked on legislation to speed up disaster relief funds provided by the Federal Emergency Management Agency (FEMA), delivered millions of dollars in federal grant funding to his district to support neighborhood improvements and ensured sustainable access to water for his district amidst climate change.

    Since 2015, FHLBank San Francisco has awarded over $7.5 million in Affordable Housing Program (AHP) grants to support a range of projects in Orange County. Last year, FHLBank San Francisco funded $1.6 million for affordable housing projects in Orange and Placentia that helped create over 100 affordable housing units; and statewide more than $49 million in AHP grants were awarded through its member financial institutions to help address and expedite solutions to California’s affordable housing crisis.

    Attendees at the roundtable included:

    • Congressman Lou Correa (CA-46)
    • Laura Archuleta, Jamboree Housing
    • Jeff Ball, Orange County Business Council
    • Alfonso Ceja-Villa, Habitat for Humanity Orange County
    • Cesar Covarrubias, Kennedy Commission
    • Dr. Pooja Bhalla, Illumination Foundation
    • Jordan Hoiberg, Illumination Foundation
    • Noerena Limon, Casitas Coalition
    • Brenda Magaña, NeighborWorks Orange County
    • Margarita Muniz, Orange County Community Housing Corporations
    • Gabriel Orozco, Santa Ana Credit Union
    • Melissa Pederson, Wescom Credit Union
    • Letty Plascencia, Orange County Community Housing Corporations
    • Grace Ruiz-Stepter, Anaheim Housing Authority
    • Greg Ward, Federal Home Loan Bank of San Francisco
    • Jeremy Empol, Federal Home Loan Bank of San Francisco
    • Anabel Cuevas, Federal Home Loan Bank of San Francisco

    FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region, including Arizona, California, and Nevada. Since the Affordable Housing Program (AHP) was created in 1990, FHLBank San Francisco has awarded over $1.35 billion in AHP grants to support the construction, rehabilitation, or purchase of over 154,600 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States.

    About Federal Home Loan Bank of San Francisco

    The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

    The MIL Network –

  • MIL-OSI USA: Chairwoman McClain and Rep. Palmer Statements on the U.S. House Passing Legislation to Reverse a Biden-era Burdensome Regulation Affecting Consumers

    Source: US House of Representatives Republicans

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    Chairwoman McClain and Rep. Palmer Statements on the U.S. House Passing Legislation to Reverse a Biden-era Burdensome Regulation Affecting Consumers

    Washington, February 27, 2025

    WASHINGTON — House Republican Conference Chairwoman Lisa McClain (R-Mich.) and Representative Gary Palmer (R-AL) released the following statements after the U.S. House of Representatives passed H. J. Res. 20, which reverses an overreaching regulation from Biden’s Department of Energy (DOE) that requires gas-fired water heaters to meet higher energy efficiency standards:

    “I applaud my House colleagues in passing my Congressional Review Act to reverse the previous administration’s egregious attempt to ban gas-fired water heaters. This is a major step towards prioritizing consumer choice, protecting natural gas appliances, keeping prices affordable, and undoing the damage inflicted on the American people by the Biden-Harris Administration for the past four years,” Rep. Palmer said. 

    “It’s no surprise that Biden’s disastrous regulations failed to deliver real energy savings and instead burdened seniors and low-income households. We’ve had it with the Democrats’ nonsense. Rep. Palmer’s common-sense legislation will empower consumers and drive down costs,” Chairwoman McClain said.

    H. J. Res. 20 reverses a regulation from Biden’s DOE that requires gas-fired water heaters to meet higher energy efficiency standards, placing undue burdens on manufacturers and consumers, leading to increased costs and limiting consumer choice. The resolution strikes this burdensome DOE regulation that would increase costs for manufacturers and consumers. 

    MIL OSI USA News –

  • MIL-OSI China: China welcomes U.S. companies to share development opportunities: vice premier

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

    China welcomes U.S. companies to share development opportunities: vice premier

    BEIJING, Feb. 28 — Chinese Vice Premier He Lifeng on Friday said that China welcomes enterprises from the United States to share its development opportunities and contribute to the stable, healthy, and sustainable development of China-U.S. ties.

    He made the remarks when addressing the annual appreciation dinner of the American Chamber of Commerce in the People’s Republic of China (AmCham China) in Beijing.

    The vice premier said that China and the United States share broad common interests and space for cooperation, and that bilateral economic and trade relations between the two countries are mutually beneficial in nature.

    He said that China is committed to promoting high-quality development, expanding opening-up at a higher level, and fostering a first-rate business environment that is market-oriented, law-based and internationalized.

    China welcomes U.S. companies to continue to invest in China, He added.

    MIL OSI China News –

  • MIL-OSI China: China greenlights 13 foreign firms for pilot value-added telecom services

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

    BEIJING, Feb. 28 — In a significant move to open its telecommunication sector further, China has approved 13 foreign-invested companies for pilot operations in value-added telecom services in Beijing, Shanghai, Hainan and Shenzhen.

    The companies are permitted to engage in value-added telecom activities such as internet access and information services in accordance with the approval, the Ministry of Industry and Information Technology (MIIT) said on Friday.

    Another major step in the opening-up of China’s information and communication sector, the approval is an important move for the country to align actively with high-standard international economic and trade rules, the MIIT said.

    The related businesses by these firms are expected to provide Chinese consumers with a more diverse range of telecom services and products. This development is anticipated to further stimulate market vitality, enhance service quality and standards, and better meet the growing digital lifestyle needs of the public.

    Among the approved companies are affiliates of well-known multinationals such as T-Systems P.R. China Ltd., which is affiliated with Deutsche Telekom in China, and Siemens Digital Technology (Shenzhen) Co., Ltd.

    By the end of February 2025, the number of foreign-invested telecom enterprises increased by 30 percent year on year to exceed 2,400, latest data showed.

    For firms like Deutsche Telekom, the approval will promote the iterative upgrading of various products within China’s data center industry, and help establish a more comprehensive data center service system.

    “It brings unprecedented opportunities for us,” said Li Wenfang, vice president of T-Systems P.R. China Ltd.

    “We can better integrate global resources, enhance technological innovation and service capabilities, and provide higher-quality solutions and services for multinational corporations, as well as industries operating in China such as the manufacturing and automotive industries, thereby leading more German companies to enter the Chinese market,” Li said.

    Similarly, Airbus China, which operates a large digital platform for the analysis of global aircraft performance data, sees the approval as a crucial step in enhancing its offerings for China’s aviation industry.

    “With this new policy, we can introduce more sophisticated digital solutions for fleet management and operational efficiency,” said Xu Gang, CEO of Airbus China, noting that the approval will simplify the time and resources required for business operations in the country significantly, and accelerate the introduction of digital products and services.

    “This will not only lead the digital transformation of the aviation industry to new heights, it will also support the entire sector in achieving more efficient and safer development amid the digital wave,” he added.

    Airbus China has completed the initial development and local deployment of its first digital products and services for Chinese airlines, and plans to launch them later this year, responding to the Civil Aviation Administration’s strategy for smart civil aviation that aims to provide intelligent technical support for airlines.

    Friday’s approval came not long after the MIIT launched a pilot program in last October to expand opening-up in value-added telecom services in four designated areas in Beijing, Shanghai, Hainan and Shenzhen.

    It allows foreign investors to operate wholly-owned businesses in fields such as internet data centers, and engage in online data processing and transaction processing within designated areas. They can also gain greater access to China’s cloud computing service and computing power service markets.

    Despite simmering global trade tensions and a global surge in protectionism, China is ramping up efforts to expand its high-standard opening-up and reinforce its appeal to foreign investment. On Feb. 19, an action plan to stabilize foreign investment in 2025 was unveiled.

    Per the plan, devised by the Ministry of Commerce and the National Development and Reform Commission, China will support pilot regions in effectively implementing opening-up policies related to such areas as value-added telecommunication, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors.

    The country will also continue expanding its pilot programs to open up fields such as telecommunication and medical services in a timely manner.

    According to the Beijing Communication Administration, Friday’s approval will inject new vitality into economic growth and offer a wider range of telecommunication services options and other differentiated services to users.

    “It will also encourage local enterprises to actively innovate and grow through healthy competition and collaboration in the market, enhancing their competitiveness and influence in the international market,” the administration said.

    MIL OSI China News –

  • MIL-OSI USA: SBA Relief Still Available to Iowa Private Nonprofits Affected by May Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Iowa of the March 27, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the May 20‑31, 2024, severe storms, tornadoes and flooding.

    The disaster declaration covers the counties of Adair, Adams, Buena Vista, Butler, Calhoun, Cedar, Cherokee, Clay, Dallas, Franklin, Hamilton, Hancock, Harrison, Humboldt, Iowa, Jackson, Jasper, Kossuth, Marshall, Mitchell, Montgomery, Muscatine, Polk, Pottawattamie, Poweshiek, Shelby, Story, Tama and Wright.

    Under the declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature and suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

    EIDLs are available for working capital needs cause by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates can be as low as 3.25% with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than March 27, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Ranking Member Markey Warns Against Rolling Back Access to Capital for Underserved Communities

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Washington (February 28, 2025) – Small Business and Entrepreneurship Committee Ranking Member Edward J. Markey (D-Mass.) on February 26 delivered opening remarks during a committee hearing on the Small Business Administration’s (SBA) flagship 7(a) lending program. 7(a) encompasses the Community Advantage Small Business Lending Company (CA SBLC) program, which serves small business owners in underserved communities, levels the playing field, and provides capital for people who have difficulty securing it elsewhere. Ranking Member Markey warned against attacks on programs like Community Advantage. Watch the full opening remarks HERE.

    Democratic witnesses included:

    • Mr. Raymond Lanza-Weil, President of Common Capital, Springfield, MA
    • Ms. Mayrena Guerrero, Founder and CEO of Colorful Resilience, West Springfield, MA

    In his remarks, Ranking Member Markey said: “SBA has a responsibility to address the inefficiencies in private lending to support true competition. It is the government’s responsibility to make sure that there is capital for all entrepreneurs, regardless of background. The Biden administration understood this. They doubled the amount of small dollar loans, maintained a healthy 7(a) loan program, and ensured a 99 percent repayment rate. My witness here today from Massachusetts, Ms. Guerrero, is a clear example of an entrepreneur who just wanted to serve her community, but struggled to get the funding to do so. She was unable to receive funding from her community bank, who is also an SBA lender, and she did not have generational wealth to rely on. That’s where Common Capital, a Massachusetts-based lender in SBA’s Community Advantage program, stepped in. Thank you, Ms. Guerrero for taking the time to share your experience with the committee. Your story is just one example of why SBA programs, like the Community Advantage program, are so important.”

    Mr. Lanza-Weil noted: “Common Capital serves a four-county region with 820,000 residents. Our annual operating budget is just shy of $2 million. Even though we are a small organization serving only a fraction of the state’s geography and population, Common Capital is the leading SBA Microlender and SBA Community Advantage lender in Massachusetts… Our continued success, and the success of the small business community in Western Massachusetts, depends upon the availability of SBA Microloans and the SBA CA program. I urge you to continue supporting the Community Advantage program, and to expand it so that more mission-focused lenders like Common Capital can increase access to capital for low-to-moderate income and low-wealth entrepreneurs.”

    Ms. Guerrero remarked: “I am a Licensed Mental Health Counselor and entrepreneur in Massachusetts. I am honored to be here to talk about my experience with the SBA Community Advantage loan through Common Capital. My business is Colorful Resilience, a mental health clinic that provides outpatient mental health services to Black Indigenous People of Color, Lesbian, Gay Bi Trans Queer, and others with various sexual and gender identities, immigrants, first-generation people, and our allies… The SBA Community Advantage loan changed my life and the lives of many others. I am grateful that this program exists and was lucky to have access to it. Please continue to provide organizations like Common Capital with the support necessary to make businesses like mine possible.”

    MIL OSI USA News –

  • MIL-OSI USA: Senator Dan Sullivan Announces Leadership Roles in 119th Congress

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    02.28.25

    WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska) announced his leadership roles for the 119th Congress: deputy whip for the Senate Republican Conference, chair of the Senate Armed Services (SASC) Subcommittee on Readiness and Management Support, and chair of the Senate Commerce, Science, and Transportation (CST) Subcommittee on Coast Guard, Maritime, and Fisheries.

    “The new Senate Republican majority has a great opportunity to enact President Trump’s agenda to unleash American energy, build up our military readiness, strengthen our national security, and revitalize our economy,” said Senator Sullivan. “The Readiness and Management Support Subcommittee serves an incredibly vital role in overseeing the Defense Department and supporting our military’s readiness as we face one of the most dangerous periods since World War II with dictators on the march and increasingly working together. As chair of this subcommittee, I will be intently focused on our military’s lethality and ensuring our service members are as well-trained and equipped as possible should they ever be called upon to defend our nation. Similarly, I look forward to building up Alaska and America’s infrastructure, broadband, and maritime capabilities to maximize our national security and commercial and economic opportunities through my leadership role on the Commerce Committee. I will also continue this focus on Senator Barrasso’s team as a deputy whip. I am looking forward to working with this administration and with my Senate colleagues to get our country back on track.”

    MIL OSI USA News –

  • MIL-OSI: CalAmp Welcomes Thomas Polan as Product Director for Student Safety Business Unit

    Source: GlobeNewswire (MIL-OSI)

    CARLSBAD, Calif., Feb. 28, 2025 (GLOBE NEWSWIRE) — CalAmp, a leading provider of telematics and connected intelligence solutions, is pleased to announce the appointment of Thomas Polan as Product Director for its Student Safety Business Unit. Polan, a co-founder of the Synovia K-12 solution acquired by CalAmp in 2019, brings extensive expertise in student transportation technology and a proven dedication to innovation.

    Polan’s leadership in developing Synovia’s industry-leading solutions transformed school transportation by improving safety, efficiency, and transparency for school districts, contractors, and transportation consortiums. In his new role, he will spearhead product strategy, focusing on customer-centric solutions that enhance operational effectiveness and student safety.

    “Thomas Polan is a recognized leader in student transportation technology, and we’re thrilled to welcome him back to drive our Student Safety product strategy,” said Mark Gaydos, General Manager of Student Safety at CalAmp. “His deep industry insight and passion for innovation align perfectly with our mission to deliver cutting-edge solutions to school districts, contractors, and consortiums.”

    Polan’s appointment reflects CalAmp’s ongoing commitment to strengthening its education offerings through advanced telematics, fleet management, and safety technologies. His expertise will play a pivotal role in shaping the future of student transportation solutions and solidifying CalAmp’s market leadership.

    “I’m excited to rejoin CalAmp and continue advancing solutions that matter to the student transportation industry,” said Polan. “School districts rely on dependable, innovative technology to ensure student safety and operational efficiency. I look forward to collaborating with CalAmp’s talented team to deliver exceptional value to our customers.”

    About CalAmp

    CalAmp provides flexible solutions to help organizations worldwide monitor, track, and protect their vital assets. Our unique device-enabled software and cloud platform enables commercial and government organizations worldwide to improve efficiency, safety, visibility, and compliance while accommodating the unique ways they do business. With over 10 million active edge devices and 220+ approved or pending patents, CalAmp is the telematics leader organizations turn to for innovation and dependability. For more information, visit calamp.com, or LinkedIn, Twitter, YouTube or CalAmp Blog.

    CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, CalAmp Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.

    The MIL Network –

  • MIL-OSI Security: United States Files Civil Complaint To Forfeit 9,000 Boys’ Suits Imported From China That Contained Unsafe Levels Of Lead

    Source: Office of United States Attorneys

    NEWARK, N.J. – The United States Attorney’s Office filed a civil complaint today to forfeit more than 9,000 boys’ suits that were intercepted at the Port of New York/Newark after being imported from China, Acting U.S. Attorney Vikas Khanna announced.

    As alleged in the civil forfeiture complaint, the boys’ suits were seized by the Department of Homeland Security, U.S. Customs and Border Protection, in March 2020, after the buttons on the boys’ suits were tested by the U.S. Consumer Product Safety Commission and found to contain prohibited levels of lead. Further, and as alleged in the civil forfeiture complaint, this was at least the third instance in which the importer, Angels New York US, Inc., attempted to import children’s clothing that contained unsafe levels of lead.

    Acting U.S. Attorney Khanna credited members of the U.S. Customs and Border Protection at the Port of New York/Newark, under the direction of Port Director Jeffrey Greene, and members of the U.S. Consumer Product Safety Commission.

    The government is represented by Assistant U.S. Attorney Peter A. Laserna of the Bank Integrity, Money Laundering and Recovery Unit.

    The accusations in the complaint, and the description of the complaint, constitute only allegations.
     

    MIL Security OSI –

  • MIL-OSI USA: Weight Loss, Male Enhancement and Other Products Sold Online or in Stores May Be Dangerous

    Source: US Food and Drug Administration

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    Español
    Whether you’re looking to buy weight loss, male enhancement, or certain other products, these days you’re apt to look for them online, rather than at a physical store. 
    But buyer, beware. When you buy such products, you may actually be getting an illegal product; and that product may contain potentially dangerous ingredients that are not on the label. 
    This is not a new development. Over the past decade, the U.S. Food and Drug Administration has frequently warned consumers that certain products sold over-the-counter — including those sold over the “virtual” counter — contain hidden active ingredients that could be harmful. Hidden ingredients are a problem in products promoted for weight loss, body building, pain relief, sleep aids, and sexual enhancement. Often, products containing active ingredients in FDA-approved drugs are falsely represented as dietary supplements. 
    It is clear from the results of our decade of testing that retailers and distributors, including online marketplaces, do not effectively prevent these types of potentially harmful products from being sold to consumers.
    The FDA has also found products marketed as supplements with claims to treat or prevent serious diseases such as cancer, HIV, and COVID-19.  These products are typically unapproved drugs that have not been reviewed by the FDA for safety or effectiveness, and consumers should not buy them.
    What You Don’t Know Can Hurt You
    Take weight loss and male enhancement products, for example. The FDA recently tested nearly 70 of these products found on Amazon, eBay, and Walmart.com, and discovered most of them contained active pharmaceutical ingredients not listed on the label. These hidden ingredients may interact with other drugs you are taking, or they may be associated with serious side effects.
    All 29 of the products the FDA purchased on Amazon, 80% purchased on eBay, and half of the products purchased on Walmart contained undeclared active pharmaceutical ingredients. The FDA’s laboratory testing found the products contained various undeclared active ingredients, including sildenafil, tadalafil, vardenafil, sibutramine, desmethylsibutramine, phenolphthalein and/or fluoxetine. Most of these active ingredients are found in FDA-approved prescription drugs, including Viagra and Cialis; others were removed from the market for serious safety concerns.
    How Can You Identify Dangerous Products?
    It is easy for people to sell a potentially dangerous product online. We advise consumers not to purchase weight loss, sexual enhancement, body building, sleep aid, and pain relief products that are listed in the public notifications at the links above.   
    If you are considering buying a product marketed as a dietary supplement, please go to the FDA’s tainted products database, where you will find nearly 1,000 of these potentially dangerous products listed. The agency updates the database as it finds new products that contain undeclared active pharmaceutical ingredients; however, new products and new websites pop up all the time, and it is impossible for the database to keep up. 
    Even if a product has a different but similar name or is not in the list, you need to be cautious. Also watch out for products that are sold in one- or two-capsule packages that promise immediate results. The FDA works hard to identify and remove potentially dangerous products from the marketplace, but it’s a constant and ongoing effort. 
    Steps to Take to Stay Safe
    If you are thinking of using a product in one of these categories, talk to your doctor first. Ask your doctor for help in identifying reliable and credible information about the product. 
    Do not take products that are sold without a prescription and claim to treat, cure or prevent a serious disease such as HIV or cancer. Products approved to treat or prevent serious diseases generally are prescription products, which are restricted to use under the supervision of a licensed health care professional.  

    Be cautious about trusting consumer reviews that include miraculous disease treatment and prevention claims. 
    Be aware of websites that direct you to online marketplaces to buy products. Claims regarding a product’s ability to prevent or treat a disease made on these websites have not been reviewed by FDA.  
    See BeSafeRx for information about how to safely buy medicine online. 

    And finally, if you experience an injury from a product, do not just add a product review to the online marketplace; please also report your concerns to the FDA’s MedWatch Adverse Event Reporting program so the agency can take any appropriate action to protect consumers from any unsafe products. Consumers are also encouraged to report unlawful sales of products sold online.

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Perry County

    Source: US Federal Emergency Management Agency 2

    RANKFORT, Ky — A Disaster Recovery Center will open in Perry County today, Feb. 28, in areas affected by the February floods. 
    Disaster Recovery Centers, operated by the Kentucky Division of Emergency Management and FEMA, offer in-person support to survivors in declared counties as the result of severe storms, straight-line winds, flooding, landslides and mudslides from Feb. 14, 2025, and continuing.   
    PERRY COUNTY
    Hazard Community College, 1 Old Community College Dr, Hazard, Ky 41701
    Disaster Recovery Centers operate from 7 a.m. to 7 p.m. ET Monday through Saturday and 1 – 7 p.m. on Sundays, unless otherwise noted. 
    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect 
    survivors with resources for their recovery needs. The deadline to apply for federal assistance is April 25, 2025.
    Other centers are open in the following locations:
    PIKE COUNTY
    Pike Public Library, 126 Lee Ave, Pikeville, Ky 41501
    Belfry Public Library, 24371 US-119 North, Belfry, Ky 41514
    Additional Disaster Recovery Centers will open across the Commonwealth disaster area in the coming days. 
    In addition to FEMA personnel, representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U.S. Small Business Administration (SBA) will be available at the recovery centers to assist survivors.
    You do not need to visit a center to apply with FEMA.
    If you are unable to visit the center, there are other ways to apply: you can apply online at DisasterAssistance.gov, by calling 800-621-3362, or by using the FEMA mobile app. If you use a relay service, such as video relay (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.

    MIL OSI USA News –

  • MIL-OSI USA: With Fierce Work Ethic, Business Students Take First Place in American University Case Challenge

    Source: US State of Connecticut

    A fierce work ethic, great research, and many hours of practice helped the Husky Case Competition Club win the top prize at the 32nd Kogod Case Competition at American University earlier this month.

    This is the second consecutive year that the UConn team took home the top prize. A new team competed this year, and all five participants are second-year business students who had never entered a case competition before.

    “Our ideas were super niche and I think that took the judges by surprise,’’ said Sophia Viar, a finance major and the president of the club. “They were intrigued by the complexity of what we had done.’’

    The team prepared for months, sometimes putting in five hours a day to fine-tune their case and improve their presentation.

    “We practiced over and over in the School of Business Board Room,’’ Viar said. “We basically asked each other questions over and over. We drilled. We were ready for every question that the judges threw at us.’’

    Other team members included: Maria Cayward (analytics and information management), David Lu (finance), Kabir Ramnani (finance) and Daniel Barberi (finance and economics). None of the team members knew each other well before they started the competition.

    The Challenge: Using AI to Help a Fortune 500 Company

    The case competition involved integrating artificial intelligence into Xylem Inc., an American water technology provider and Fortune 500 company, that does business in more than 150 countries.

    In their final presentation, the Husky team proposed using Novable software, which sources startups that match a company’s needs. They also recommended exploring the offerings of Oxyle, a company with a new filter that can destroy PFAS contaminants.

    “One of the judges, who works for Xylem, said, ‘You hit the nail on the head. You guys are amazing!’ ’’ Viar said. The UConn team defeated four teams from American University, as well as teams from the University of Pennsylvania and Boston University. They also took the prize for Best Q&A when the competition concluded on Feb. 15 in Washington, DC.

    The victory reflects the enormous effort that the team put into the project.

    “We started working on the case in November and there was a lot of back and forth with the team,’’ Viar said. “We had four months to develop our idea, and we changed direction often. It was pretty rocky in the first months until we nailed it down.’’

    Ramnani said the team had incredible spirit and dedication, despite some mumbling about having to work over the holiday break.

    “All of us had a hunger for it. We wanted to put our best foot forward,’’ Ramnani said. “I think one of the key lessons I learned is how to articulate ideas in a concise way. If you over-speak, you overcompensate. What matters is the quality of what you say. I learned to make my answers concise and deliberate.’’

    Competition Will Enhance Careers Down the Road

    Viar is planning a career in management consulting and said the competition is well aligned with her career aspirations. She looks forward to discussing her case-competition achievement in job interviews.

    Ramnani agreed, saying the competition highlighted the problem-solving skills of every team member.

    “I really didn’t know anything about the water industry until I started working on the case competition. I had to learn so much,’’ he said. “I also learned that sometimes you have to cut your losses. If we worked on an idea for a week and it wasn’t working out, I learned not to be emotionally attached to the idea, to move on and try something new.’’

    MIL OSI USA News –

  • MIL-OSI: NANO Nuclear Energy Announces Active Corporate Role for Veteran Investment & Merchant Banker Darlene T. DeRemer as its Executive Director of Corporate Finance

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that Darlene T. DeRemer, previously Chairwoman of NANO Nuclear’s Executive Advisory Board for Institutional Finance, has now transitioned to a new, active corporate role with NANO Nuclear as its Executive Director of Corporate Finance.

    In her new role, Ms. DeRemer will assist NANO Nuclear’s executive management as a consultant in the continuing development and execution of the Company’s financing strategies and its corporate processes and procedures, all with a view towards supporting NANO Nuclear’s long-term growth.

    This appointment follows a similar, previously announced, leadership transition for the Hon. John G. Vonglis, who now serves as NANO Nuclear’s Executive Director of Global Government Affairs after having served on the Company Executive Advisory Board. These appointments highlight the confidence of leading professionals in NANO Nuclear’s mission and potential. Since its inception, NANO Nuclear has attracted highly qualified and proven leaders in finance, regulation, and science. Ms. DeRemer’s appointment adds to a growing roster of exemplary professionals dedicated to NANO Nuclear’s emerging status at the forefront of the advanced nuclear energy technology industry.

    “Working alongside Jay and James on NANO Nuclear’s Executive Advisory Board confirmed my confidence in NANO Nuclear’s mission and leadership, and I’m thrilled to step into a more active role where I can contribute to NANO Nuclear’s continued success,” said Darlene T. DeRemer, Executive Director of Corporate Finance of NANO Nuclear Energy. “I believe that the future of the nuclear energy industry and NANO Nuclear’s mission are closely aligned, given the innovative potential of our technologies to provide reliable, robust, and secure power to data centers, remote communities, mining projects, military installations, and beyond.”

    Figure 1 – NANO Nuclear Energy Executive Advisory Board Member Darlene T. DeRemer Transitions to Active Role within the Company as its Executive Director of Corporate Finance.

    Darlene DeRemer is the Chair of the ARK Invest ETF Trust Board and co-founder of Grail Partners LLC, a merchant banking firm where she leads the firm’s Boston office. As a senior banker, she focuses on the global asset management industry, advising clients on a wide range of strategic transactions. With over 25 years of experience as a leading adviser in the financial services industry, Ms. DeRemer specialized in strategic marketing, product design, and the implementation of innovative service strategies.

    Before transitioning into investment banking, Ms. DeRemer led or participated in numerous advisory transactions. Her current clients include institutional and mutual fund managers in the U.S., as well as alternative investment firms seeking to access public markets both domestically and internationally. Previously, Ms. DeRemer ran NewRiver’s eBusiness Advisory unit for four years and operated her own strategy firm, DeRemer + Associates, for 18 years. Founded in 1987, DeRemer + Associates was the first consultancy focused on the U.S. mutual fund industry. Darlene holds a B.S. in finance and marketing (summa cum laude, 1977) and an MBA with distinction (1979) from Syracuse University.

    “I’m pleased to welcome Darlene to her new role at NANO Nuclear and thank her for her contributions as Chairwoman of our Executive Advisory Board for Institutional Finance,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Her extensive background in guiding growing companies will be hugely beneficial as we expand and strengthen our operations in both the near and long term. I look forward to working with Darlene to ensure that NANO Nuclear has the financial capabilities to achieve our ambitious goals and as we seek to establish ourself as leader in the advanced nuclear energy industry.”

    “Darlene’s decision to move into a more active role with our company underscores both the great promise of our ambitions and our track record of achievements to date,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “Her leadership abilities and finely honed expertise will be tremendous assets as we continue to expand. In particular, her extensive network and talent for navigating complex financial landscapes will be vital as NANO Nuclear looks to capitalize on the growing momentum in the nuclear energy industry.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. NANO Nuclear is also developing patented stationary KRONOS MMR™ Energy System and space focused, portable LOKI MMR™.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN

    NANO Nuclear Energy YOUTUBE

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    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements include those regarding the anticipated benefits of Ms. DeRemer’s association with the Company as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Continuing Defense of Georgia Consumers, Senator Reverend Warnock Questions Nominee to Lead CFPB

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Continuing Defense of Georgia Consumers, Senator Reverend Warnock Questions Nominee to Lead CFPB

    Senator Reverend Warnock questioned Jonathan McKernan, the Trump Administration’s nominee to lead the Consumer Financial Protection Bureau (CFPB)

    In partnership with Senator Reverend Warnock, the CFPB addressed 266,560 complaints from Georgians, including 20,168 from servicemembers in the state

    The hearing followed the recent news of the dissolution of CFPB, one of multiple federal agencies gutted by the Elon Musk-led Department of Government Efficiency (DOGE)

    Senator Reverend Warnock is a member of the Subcommittee on Financial Institutions and Consumer Protection, which he chaired last Congress, and which oversees the CFPB

    Senator Reverend Warnock during the hearing: “You’ve [Jonathan McKernan] raised your hand to run the agency. I think you ought to know whether you think it’s a good thing to get rid of”

    Watch Senator Reverend Warnock at Thursday’s hearing HERE

    Washington, D.C. – Yesterday, U.S. Senator Reverend Raphael Warnock (D-GA), a member and former chair of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection, which oversees the Consumer Financial Protection Bureau (CFPB), questioned Jonathan McKernan and William Pulte, the Trump Administration’s nominees to lead the CFPB and the Federal Housing Finance Agency, respectively.

    Last Congress, Senator Warnock worked extensively with the CFPB to return funds and protect Georgians from future financial hardship, helping to address 266,560 complaints from Georgians, including 20,168 from servicemembers in the state. Additionally, Senator Warnock spearheaded several efforts to return dollars to hardworking Americans, including: remove medical debt from credit reports, rule ending an overdraft loophole, highlighting harmful practices in the private student lending market, safeguard Americans from ‘Buy Now, Pay Later’ debts, and much more.

    During Senator Warnock’s line of questioning for Mr. McKernan, he highlighted the recent news of the dissolution of CFPB, one of many federal agencies gutted by the Elon Musk-led Department of Government Efficiency (DOGE), and if Mr. McKernan shared President Trump’s disturbing view that the agency is “a very important thing to get rid of.”

    “President Trump has said the CFPB is, quote, ‘A very important thing to get rid of.’ Yes or no. Do you agree with the President on that point?” asked Senator Warnock.

    “Senator, I think our elected officials decide normative questions like that,” said Mr. McKernan.

    “You’ve raised your hand to run the agency. I think you ought to know whether you think it’s a good thing to get rid of,” said Senator Warnock.

    The nomination hearing followed a special hearing earlier in the week that was organized by Ranking Member of the Banking Committee, Senator Elizabeth Warren (D-MA) and aimed to highlight the repercussions of dismantling the CFPB.

    Watch the Senator’s full remarks and line of questioning HERE. 

    See below transcript of the key exchange between Senator Warnock and CFPB Director nominee Jonathan McKernan:

    Senator Reverend Warnock (SRW): “Congress created the Consumer Financial Protection Bureau – the CFPB – in the wake of the financial crisis, during which Americans saw Wall Street bankers get bailed out, while millions of working folks lost their jobs, their homes, their retirements, their life savings. That’s the situation out of which the CFPB emerged.” 

    “Mr. McKernan, thank you. I enjoyed our meeting yesterday. Good to meet you. And I want to follow up on our discussion about the Trump administration’s efforts to dismantle the CFPB, the agency you’ve been nominated to run. President Trump has said the CFPB is, quote, ‘A very important thing to get rid of.’ Yes or no. Do you agree with the President on that point?”

    Jonathan McKernan (JM): “Senator as I’ve said, the CFPB is a product of statute. That is a question for our elected official. It’s…”

    SRW: “Yes or no question, do you agree that it’s a very good thing to get rid of?”

    JM: “Senator, I think our elected officials decide normative questions like that.” 

    SRW: “You’ve raised your hand to run the agency. I think you ought to know whether you think it’s a good thing to get rid of.”

    JM: “Well, I will say this. I certainly think that consumer protection is a very good thing, it’s a critical thing. A federal consumer protection role is a very important thing. That’s a lesson I learned from my experience in the 2008 financial crisis. We need to have a regulatory system that works for everyday Americans, and that includes consumer protection.” 

    SRW: “I’ll take that as you agree with the President, that we don’t necessarily need the CFPB. We need consumer protection, but not the CFPB. Is that your answer?”

    JM: “We need, we need to have a strong consumer protection function.”

    SRW: “President Trump and Elon Musk have basically gotten rid of the CFPB, which is why the question is so urgent, and the bureau has seen dozens of key employees fired. They’ve been told not to engage in its core supervisory or examination duties required by the law, and has even had its physical headquarters closed and locked.”

    “I think that’s a pretty clear message. If someone closes down the office that you’ve been nominated to run.”

    “With the CFPB effectively eliminated. How on earth do you plan to lead a shell agency that’s been completely gutted?”

    JM: “Senator, I’m not aware of the situation both this the staffing and resources at the CFPB. Well, what I will point to is just what the administration has said in its filings, and some of the litigation ongoing here, and they have said that we are going to have a CFPB that is streamlined and efficient. And quoting, I think, from the brief here, it says, ‘A predicate of that is there will be a CFPB’ again, though this is a question for our elected officials, my job is to follow the law and execute on my mandate.”

    SRW: “In the last three months alone, the CFPB has received more than 80,000 complaints from Georgians, with the Bureau currently seeking resolution to more than 40,000 of those complaints with the CFPB shuttered by President Trump and Elon Musk, what’s your plan to ensure that the bureau resolves those 40,000 pending complaints from my constituents in Georgia?”

    JM: “Senator like I said, the consumer complaint function is a statutorily required function that’s in 1021c and so my mandate, if I’m confirmed, is to fulfill faithfully, fully that statutory mandate.”

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: “India’s Science Budget witnessed quantum leap under visionary leadership of Prime Minister Narendra Modi: Testimony of his patronage to innovation and Science” says Dr. Jitendra Singh

    Source: Government of India (2)

    “India’s Science Budget witnessed quantum leap under visionary leadership of Prime Minister Narendra Modi: Testimony of his patronage to innovation and Science” says Dr. Jitendra Singh

    Union Minister Dr. Jitendra Singh recalls Prime Minister Modi’s clarion call in Man Ki Baat to celebrate this year’s National Science Day with festive fervour

    S&T Minister Dr. Jitendra Singh, launches Electric Vehicle Solutions led by Startups Under the DST’s new initiative

    India embarked on a bold and transformative journey to establish itself as a global hub for research, innovation, and scientific excellence to become Viksit Bharat@2047

    India’s 5352 Scientists feature in Top 2 percent of Scientific Minds according to a survey shares Dr. Singh

    Posted On: 28 FEB 2025 7:09PM by PIB Delhi

    NEW DELHI, February 28: Union Minister Dr. Jitendra Singh states the quantum budgetary increase to science departments highlighting the Government’s commitment to the progress of Science Technology and innovation. He calls it the patronage of Prime Minister Narendra Modi to innovation and Science during his speech at the National Science Day 2025 celebrations at Vigyan Bhavan, New Delhi.

    Dr. Jitendra Singh stated that the budget allocations for various departments have seen significant growth over the years. The Department of Science and Technology (DST) received an allocation of ₹2777 crore in 2013-14, which has surged to ₹28,509 crore in 2024-25, marking a 926% increase. Similarly, the Department of Science and Industrial Research (DSIR) saw its budget rise from ₹2013 crore in 2013-14 to ₹6658 crore in 2024-25, reflecting a 230% increase. The Department of Space (DOS) experienced a budget growth from ₹5615 crore in 2013-14 to ₹13,416 crore in 2024-25, resulting in a 139% increase.

    Addressing the celebration, Dr. Jitendra Singh recalls Prime Minister Modi’s clarion call in Man Ki Baat to celebrate this year’s National Science Day with festive fervor.

    The National Science Day is celebrated on February 28th each year in India to honor the discovery of the Raman Effect by Indian physicist C.V. Raman in 1928. This discovery was a groundbreaking achievement in the field of light scattering, for which C.V. Raman was awarded the Nobel Prize in Physics in 1930.

    During the programme, The Science and Technology Minister, Dr. Jitendra Singh, launched the DST’s new initiative for Electric Vehicle Solutions, which is led by startups for component manufacturing in collaboration with the Ministry of Heavy Industries and ACMA.

    Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space said “India embarked on a bold and transformative journey to establish India as a global hub for research, innovation, and scientific excellence to become Viksitbharat@2047”.

    Reflecting on the past decade of India’s scientific journey, the minster emphasized that India has transformed into the third-largest startup ecosystem globally, with a growing base of innovative, youth-led deep-tech startups. These startups are not only addressing domestic challenges but are also creating solutions for global issues such as communication, cybersecurity, data privacy, sustainable energy, healthcare advancements, and smart manufacturing.

    Dr. Singh shared that according to the survey with a cutoff date of 31st December has found that 5352 Indian Scientific Minds feature in Top 2 percent. Referring to India’s progress in the Global Innovation Index, Dr. Singh said, “In just ten years, India has ascended from 80th to 39th position, cementing its place among the world’s most innovative nations.”

    Dr. Singh touched upon India’s groundbreaking scientific breakthroughs that have been a source of national pride, most notably the successful landing of Chandrayaan-3 on the moon’s south pole—making India the first country to achieve this extraordinary feat. He also highlighted the successful launch of ISRO’s SPADEX mission on December 30, 2024, a pioneering project in spacecraft rendezvous, docking, and undocking.

    Dr. Singh underscored that India is poised to make its mark in the global quantum technology landscape, with a focus on quantum computing, quantum communication, and quantum cryptography. Indian youth-led startups in deep-tech are at the forefront, developing solutions for global challenges.

    Emphasizing on this year’s theme i.e. “Empowering Indian Youth for Global Leadership in Science & Innovation for Viksit Bharat,” was emphasized by Dr. Singh as a reflection of India’s growing investment in its young scientists. He also dedicated the National Science Day to the youth of the country and seeks to enable the youth to undergo capacity building and prepare them to be the architects of 2047.

    In his presence, nine new institutes were included in NIDHI- iTBIs Inclusive Technology Business Incubators with 50 Institutes already present

    1. National Engineering College, Kovilpatti, Tamil Nadu
    2. GITAM, Visakhapatnam, Andhra Pradesh
    3. Indian Institute of Management, Jammu, J&K
    4. Sri Sri University, Cuttack, Odisha
    5. Sanskriti University, Mathura, UP
    6. AIIMS, Patna, Bihar
    7. Sona College of Technology, Salem, Tamil Nadu
    8. Assam Down Town University, Assam
    9. Sangam University, Bhilwara, Rajasthan

    An MoU was exchanged between IIT Kanpur and HAB Biomass Pvt. Ltd. on a Green Corrosion Inhibitor from Manure developed by the SHRI Cell of DST. The celebration also witnessed a technology transfer between CSIR-NBRI and Ankur Seeds, Nagpur. Dr. Singh also released the Compendium of Selected Projects of the 31st NCSTC.

    Today 9 more Universities under PURSE were supported on diverse scientific themes and different geographical regions with Rs 75 Cr

    1. Central University of South Bihar
    2. Central University of Tamil Nadu
    3. Guru Ghasidas Vishwavidyalaya, Chattisgarh
    4. Hemvati Nandan Bahuguna Garhwal University, Uttarakhand;
    5. Maharshi Dayanand University Rohtak, Haryana
    6. Punjab Engineering College, Chandigarh
    7. Rashtrasant Tukadoji Maharaj Nagpur University; Maharashtra
    8. Tezpur University; Assam
    9. Veer Bahadur Singh Purvanchal University, Uttar Pradesh

    In another landmark initiative, Dr. Singh shared that ₹1,000 crore venture capital fund exclusively for the space sector. Approved by the Cabinet, this fund aims to foster India’s growing base of nearly 300 space startups, positioning India as a leader in the space industry.

    The government has also allocated Rs 2,000 crore for Mission Mausam, a national program focused on enhancing weather forecasting capabilities. Additionally, the launch of the Anusandhan National Research Fund (NRF) with a corpus of ₹50,000 crore marks a giant leap toward ensuring that India’s scientific advancements are driven by research excellence and innovation.

    Dr. Singh reiterated the government’s commitment to fulfilling the vision of ‘Atmanirbhar Bharat’ by developing indigenous technologies tailored to India’s unique needs. The Ministry of Science and Technology is working relentlessly to ensure that innovations move from the lab to land, benefiting local communities while positioning India as a global leader in science and technology.

    Dr. Jitendra Singh emphasized the importance of collaboration between various departments of science and the private sector. The government’s efforts are focused on creating an enabling environment for scientific innovation, ensuring that research and development align with the needs of both the public and private sectors.

    The celebration was graced by Prof. A.K. Sood, Principal Scientific Advisor to the Government of India; Dr. N. Kalaiselvi, DG-CSIR and Secretary of DSIR; Prof. Ashutosh Sharma, President of INSA; Prof. Abhay Karandikar, Secretary of DST; Dr. Rajesh S. Gokhale, Secretary of DBT; Sh. V. Narayanan, Chairman, ISRO and Secretary, Department of Space; along with Dr. Rashmi Sharma, Head, NCSTC. Senior Officials of State S&T Councils, School & College students from 22 States across India joined the Science Day celebrations in Online mode.

    ******

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Joint Statement: Second Meeting of the India-EU Trade and Technology Council, New Delhi (February 28, 2025)

    Source: Government of India

    Posted On: 28 FEB 2025 6:25PM by PIB Delhi

    The second meeting of the India-EU Trade and Technology Council (TTC) took place in New Delhi on 28 February 2025. It was co-chaired on the Indian side by India’s External Affairs Minister Dr. S. Jaishankar; Commerce and Industry Minister Shri Piyush Goyal; and Minister for Electronics and Information Technology Shri Ashwini Vaishnaw. Executive Vice-President for Tech Sovereignty, Security and Democracy Ms. Henna Virkkunen, Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency Mr. Maros Šefčovič and Commissioner for Startups, Research and Innovation Ms Ekaterina Zaharieva co-chaired on the EU side.

    Prime Minister Narendra Modi and European Commission President Ursula von der Leyen had established the India-EU TTC in April 2022 as a key bilateral platform to address challenges at the confluence of trade, trusted technology and security. India and the European Union, as two large and vibrant democracies with open market economies, shared values and pluralistic societies, are natural partners in a multipolar world.

    The deepening of bilateral relations and the growing strategic convergence between the EU and India respond to the shifting dynamics of the global geopolitical landscape and a common interest in promoting global stability, economic security, and sustainable and inclusive growth. In that respect, both sides emphasized again the importance of the rules-based international order and the full respect for the principles of sovereignty, territorial integrity, transparency, and peaceful resolution of disputes. The TTC reflects a shared acknowledgement between the EU and India of the increasingly critical links between trade and technology, the potential of cooperation on these issues to enhance the economies of both partners, and the need to work together on the related security challenges. Both sides note the potential of their partnership to increase resilience, strengthen connectivity and drive forward the development of green and clean technologies.

    The first meeting of the India-EU TTC was held in Brussels on 16 May 2023. The TTC Ministerial Meeting provided political guidance for the way forward. Subsequently on 24 November 2023, a stock-taking meeting in virtual mode reviewed the progress made by the three TTC working groups.

    Working Group 1 on Strategic Technologies, Digital Governance, and Digital Connectivity

    India and the European Union reaffirmed the importance of deepening their digital cooperation in line with their shared values through the Working Group 1 on Strategic Technologies, Digital Governance, and Digital Connectivity. Both sides committed to leverage their respective strengths to accelerate a human-centric digital transformation and the development of advanced and trustworthy digital technologies such as AI, semiconductors, High-Performance Computing and 6G, which will benefit both economies and societies. Both sides committed to work jointly to strengthen EU-India research and innovation for this purpose to further enhance competitiveness, while increasing their economic security. Both sides committed to promoting global connectivity in a cyber-secure digital ecosystem.

    Recognizing the importance of Digital Public Infrastructure (DPI) for the development of open and inclusive digital economies and digital societies, India and the European Union agreed to collaborate on working towards interoperability of their respective DPIs that respect human rights and protect personal data, privacy, and intellectual property rights. Both sides further committed to jointly promote DPIs solutions to third countries and further emphasized the need of mutual recognition of e-signatures to enhance cross-border digital transactions and foster mutual economic growth.

    Both sides emphasized their commitment to further strengthen the resilience of semiconductor supply chains and promote collaboration in the field of semiconductors. To that end, they agreed to explore joint R&D in the field of chip design, heterogeneous integration, sustainable semiconductor technologies, technology development for advanced processes for process design kit (PDK), among others. Both sides shall promote the strengthening of the EU and Indian semiconductor ecosystems to enhance technological capabilities and ensure supply chain resilience by developing sustainable, secure and diversified semiconductor production capacities. Furthermore, they committed to developing a dedicated programme that will facilitate talent exchanges and foster semiconductor skills among students and young professionals.

    The two sides reiterated their commitment to safe, secure, trustworthy, human-centric, sustainable and responsible Artificial Intelligence (AI) and to promote this vision on the international level. In addition, with a view to ensuring continued and impactful cooperation on AI, the European AI Office and India AI Mission agreed to deepen cooperation, encouraging an ecosystem of innovation and fostering information exchange on common open research questions for developing trustworthy AI. They also agreed to enhance cooperation on large language models, and to harness the potential of AI for human development and common good, including through joint projects such as developing tools and frameworks for ethical and responsible AI. These will build on the progress made under R&D collaboration on high-performance computing applications in the areas of natural hazards, climate change, and bioinformatics.

    India and the EU welcomed the signing of a memorandum of understanding between the Bharat 6G Alliance and the EU 6G Smart Networks and Services Industry Association for aligning research and development priorities and creating secured and trusted telecommunications and resilient supply chains. Both sides will also enhance cooperation on IT and telecoms standardisation with a particular focus on promoting interoperable global standards.

    Furthermore, the two sides agreed to work towards bridging the digital skills gap, explore mutual recognition of certifications, and promote legal pathways of skilled professionals and exchange of talent.

    Both sides agreed to collaborate on the implementation of the Global Digital Compact, agreed by consensus at the UN General Assembly in September 2024, as a key instrument for delivering on their shared objectives. They noted the need to ensure that the forthcoming World Summit on Information Society +20 maintains global support for and enhances the multi-stakeholder model of Internet governance.

    Working Group 2 on Clean and Green Technologies

    India and the European Union recalled the importance of the priority workstreams identified under Working Group 2 on Clean and Green Technologies for achieving net zero emissions by 2070 and 2050 for India and the European Union, respectively. Achieving these targets will require significant investment in new clean technologies and standards. An emphasis on research and innovation (R&I) will foster technological collaboration and exchange of best practices between the EU and India. In parallel, supporting technological innovations for market uptake will enhance access to the respective markets by Indian and EU enterprises and facilitate wide adoption of innovative technologies. This opens perspectives for cooperation between Indian and EU incubators, SMEs and start-ups and building human resource capability and capacity in such technologies.

    In this regard, both sides agreed on joint research cooperation through exceptional coordinated calls on recycling of batteries for electric vehicles (EVs), marine plastic litter, and waste-to-hydrogen. The estimated total joint budget will be about EUR 60 million from the Horizon Europe programme and from matching Indian contributions. On recycling of batteries for EVs, the focus will be on battery circularity through different kinds of flexible/low cost/easy to recycle batteries. In marine plastic litter, the focus will be on developing technologies for detection, measurement and analysis of aquatic litter and for mitigation of the cumulative impact of pollution on the marine environment. On waste-to-hydrogen, the focus will be on developing technologies with greater efficiency to produce hydrogen from biogenic wastes.

    The two sides recalled the importance of the substantive exchanges between experts in the identified areas of cooperation as the basis for future action. Indian experts have participated in a training and mutual learning exercise on EV interoperability and Electromagnetic Compatibility (EMC) at the Joint Research Centre (JRC) E-Mobility Lab in Ispra, Italy in January 2024. Furthermore, a joint hybrid workshop on EV Charging Technologies (Standardisation and Testing) was organised at the Automotive Research Association of India (ARAI), Pune, India and online, to deepen the EU-Indian dialogue and the industry’s engagement in charging infrastructure standardisation processes with India. The two sides also concluded a Matchmaking Event to identify, support and organise exchanges between Indian and EU startups in technology for recycling of batteries for EVs. Experts also jointly discussed assessment and monitoring tools for marine plastic litter. Finally, an “Ideathon” fostering EU-India collaboration to co-create practical solutions involving all stakeholders for addressing marine plastic pollution effectively is in preparation.

    Both sides agreed to explore cooperation on harmonising standards for EV charging infrastructure, including cooperative, pre-normative research for harmonised testing solutions and knowledge exchange in the domain of e-mobility. They also agreed to explore how to enhance collaboration in the field of hydrogen-related safety standards, the science of standards as well as the market uptake of wastewater treatment technologies as outcomes of previous jointly conducted research projects.

    Working Group 3 on Trade, Investment and Resilient Value Chains

    India and the European Union noted productive discussions under Working Group 3 on Trade, Investment and Resilient Value Chains with a view to building a closer economic partnership between India and the European Union. In an increasingly challenging geopolitical context, both sides committed to work together for creating wealth and shared prosperity. The work under Working Group 3 complements the ongoing negotiations on a Free Trade Agreement (FTA), an Investment Protection Agreement (IPA) and a Geographical Indications Agreement which are proceeding on separate tracks.

    Both sides committed to fostering resilient and future-ready value chains by prioritizing transparency, predictability, diversification, security and sustainability. Both sides expressed satisfaction with the progress made on Agri-food, Active Pharmaceutical Ingredients (APIs) and Clean Technologies sectors and agreed on work plans in these three fields with the aim of promoting value chains that can withstand global challenges.

    In agriculture, India and the EU intend to collaborate on contingency planning for food security and welcomed common efforts on shared research and innovations needs regarding climate-resilient practices, crop diversification and infrastructure improvements as promoted for cooperation through the G20 framework. In the pharmaceutical sector, both sides aim to enhance transparency and security in Active Pharmaceutical Ingredients (APIs) supply chains by mapping vulnerabilities, promoting sustainable manufacturing, and establishing early warning systems to prevent disruptions. Clean technology cooperation centers on strengthening supply chains for solar energy, offshore wind, and clean hydrogen by exchanging information on sectoral capabilities and investment incentives and Research, Development and Innovation priorities as well as on methodologies to assess vulnerabilities, discussing approaches to minimize trade barriers and exploring possible synergies of the supply chains. Across these sectors, India and the EU are working to foster investment, exchange best practices, and mitigate risks through regular dialogues, research collaborations, and business-to-business engagements, ensuring supply chain resilience and sustainable economic growth.

    Both sides acknowledged that relevant priority market access issues are being addressed through cooperation within the TTC framework. The EU side appreciated the Indian initiatives to approve the marketing of several EU plant products while the Indian side appreciated the listing of a number of Indian aquaculture establishments and taking up the issue of equivalence for agricultural organic products. Both sides agreed to pursue their efforts on these topics, under the TTC review mechanism, and to continue their engagement on remaining issues flagged by each other.

    The two sides noted the exchanges regarding best practices in the screening of Foreign Direct Investments, which is an area of growing importance to foster economic security.

    India and the EU strengthened their commitment towards the multilateral trading system as an anchor in the current challenging geopolitical context. At the same time, they recognized the need to bring necessary reform to the WTO so that it is able to address efficiently and effectively issues of interest to Members. Both sides also recognized the importance of a functioning dispute settlement system. For this purpose, they agreed to deepen their dialogue and engagement to help the WTO deliver concrete outcomes, including at MC14.

    Both sides have held in-depth discussions on trade and decarbonization through several bilateral channels and have engaged jointly with stakeholders, especially on the implementation of the EU’s carbon border mechanism (CBAM). Both sides discussed the challenges arising out of CBAM implementation, in particular for the small and medium enterprises and agreed to continue addressing them.

    The co-chairs reaffirmed their commitment to expanding and deepening their engagement under the TTC and to working together to fulfill the goals laid out in this successful second meeting of the TTC. They agreed to meet again for the third meeting of TTC within one year from now.

     

    ***

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Leaders’ Statement: Visit of Ms. Ursula von der Leyen, President of the European Commission and EU College of Commissioners to India (February 27-28, 2025)

    Source: Government of India (2)

    Posted On: 28 FEB 2025 6:05PM by PIB Delhi

    Prime Minister Shri Narendra Modi and President of the European Commission Ms. Ursula von der Leyen affirmed that the EU-India Strategic Partnership has delivered strong benefits for their peoples and for the larger global good. They committed to raise this partnership to a higher-level, building upon 20 years of India-EU Strategic Partnership and over 30 years of India-EC Cooperation Agreement.

    President von der Leyen was on her landmark official visit as she led the European Union College of Commissioners to India on 27-28 February 2025. This is the first visit of the College of Commissioners outside the European continent since the start of their new mandate and also the first such visit in the history of India-EU bilateral ties.

    As the two largest democracies and open market economies with diverse pluralistic societies, India and EU underscored their commitment and shared interest in shaping a resilient multipolar global order that underpins peace and stability, economic growth and sustainable development.

    The leaders agreed that shared values and principles including democracy, rule of law, and the rules-based international order in line with the purposes and principles of the UN Charter make India and the EU like-minded and trusted partners. The India-EU Strategic partnership is needed now, more than ever, to jointly address global issues, foster stability, and promote mutual prosperity.

    In this context, they stressed the importance of intensifying cooperation between India and Europe in trade and de-risking of supply chains, investment, emerging critical technologies, innovation, talent, digital and green industrial transition, space and geospatial sectors, defence and people-to-people contacts. They also highlighted the need to cooperate on tackling common global challenges, including climate change, the governance of Artificial Intelligence, development finance, and terrorism in an interdependent world.

    The two leaders welcomed the progress made by the second ministerial meeting of the India-EU Trade and Technology Council (TTC) that took place during the visit in fostering deeper collaboration and strategic co-ordination at the intersection of trade, trusted technology, and green transition.

    They also welcomed the specific outcomes emerging from deliberations conducted between the EU College of Commissioners and their Indian counterpart Ministers.

    The leaders committed to as follows:

    i. Task their respective negotiating teams to pursue negotiations for a balanced, ambitious, and mutually beneficial FTA with the aim of concluding them within the course of the year, recognizing the centrality and importance of growing India EU trade and economic relations. The leaders asked the officials to work as trusted partners to enhance market access and remove trade barriers. They also tasked them to advance negotiations on an Agreement on Investment Protection and an Agreement on Geographical Indications.

    ii. Direct the India-EU Trade and Technology Council to further deepen its engagement to shape outcome-oriented cooperation in areas of economic security and supply chain resilience, market access and barriers to trade, strengthening of semiconductor ecosystems, trustworthy and sustainable Artificial Intelligence, high-performance computing, 6G, Digital Public Infrastructure, joint research and innovation for green and clean energy technologies with a focus on trusted partnerships and industry linkages across these sectors, including the recycling of batteries for electric vehicles (EVs), marine plastic litter, and waste to green/renewable hydrogen. In this context, they welcomed the progress in the implementation of MoU on semiconductors for boosting the semiconductor supply chains, leveraging complementary strengths, facilitating talent exchanges and fostering semiconductor skills among students and young professionals; as well as the signing of MoU between Bharat 6G alliance and the EU 6G Smart Networks and Services Industry Association for creating secured and trusted telecommunications and resilient supply chains.

    iii. Further expand and deepen cooperation under India-EU partnerships in areas of connectivity, clean energy and climate, water, smart and sustainable urbanization, and disaster management as well as work to intensify cooperation in specific areas such as clean hydrogen, offshore wind, solar energy, sustainable urban mobility, aviation, and railways. In this context, they welcomed the agreement on holding an India-EU Green Hydrogen Forum and the India-EU Business Summit on Offshore Wind Energy.

    iv. Develop new specific areas of co-operation identified during the bilateral discussions between the EU Commissioners and Indian Ministers to be reflected in the future joint Strategic Agenda to drive mutual progress.

    v. Undertake concrete steps for the realization of the India-Middle East-Europe Economic Corridor (IMEC) announced during the G20 Leaders’ Summit in New Delhi, deepen their cooperation in the framework of the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), Leadership Group for Industry Transition (LeadIT 2.0), and Global Biofuels Alliance.

    vi. Strengthen people-to-people ties especially in the areas of higher education, research, tourism, culture, sports, and between their youths, and create an enabling environment for enhancing such exchanges. Also to promote legal, safe and orderly migration in areas of skilled workforce and professionals in view of India’s growing human capital and taking into account EU member states’ demographic profile and labour market needs.

    The leaders reaffirmed their commitment to promote a free, open, peaceful and prosperous Indo-Pacific built on international law and mutual respect for sovereignty and peaceful resolution of disputes underpinned by effective regional institutions. India welcomed the EU joining the Indo-Pacific Oceans Initiative (IPOI). Both sides also committed to explore trilateral co-operation including in Africa and the Indo-Pacific.

    The two leaders expressed satisfaction at growing cooperation in the defence and security domain, including joint exercises and collaboration between Indian Navy and EU Maritime security entities. The EU side welcomed India’s interest in joining the projects under the EU’s Permanent Structured Cooperation (PESCO) as well as to engage in negotiations for a Security of Information Agreement (SoIA). The leaders also committed to explore a security and defence partnership. They reiterated their commitment to international peace and security, including maritime security by tackling traditional and non-traditional threats to safeguard trade & sea lanes of communication. They emphasised the need to deepen collaboration in counter terrorism and to strengthen international cooperation to combat terrorism, including cross-border terrorism and terrorism financing in a comprehensive and sustained manner.

    The two leaders also discussed key international and regional issues, including on the situation in the Middle-East and the war in Ukraine. They expressed support for a just and lasting peace in Ukraine based on respect for international law, principles of the UN charter and territorial integrity and sovereignty. They also reiterated their commitment to the vision of the two-State solution with Israel and Palestine living side by side in peace and security within recognized borders, consistent with international law.

    The Leaders recognized the productive and forward-looking nature of the discussions and agreed on the following concrete steps:

    (i) Expedite the conclusion of the FTA by the end of the year.

    (ii) Further focused discussions on defence industry and policy to explore opportunities from new initiatives and programmes.

    (iii) A review meeting with partners to take stock on the IMEC initiative.

    (iv) Engage on maritime domain awareness with a view to promoting shared assessment, coordination and interoperability.

    (v) Convene the next meeting of the TTC at an early date to deepen cooperation in semiconductors and other critical technologies.

    (vi) Enhance the dialogue on clean and green energy between governments and industry, with a focus on green hydrogen.

    (vii) Strengthening collaboration in the Indo-Pacific including through trilateral cooperation projects.

    (viii) Strengthen cooperation on Disaster Management through the development of appropriate arrangements including on policy and technical level engagement for preparedness, response capacities and coordination.

    Both leaders expressed confidence that this momentous visit will mark the beginning of a new chapter in the history of relations and reaffirmed their commitment to further expand and deepen the India-EU Strategic Partnership. They looked forward to the next India EU Summit being organized in India at the earliest mutually convenient time and to the adoption of a new joint Strategic Agenda on that occasion. President von der Leyen thanked Prime Minister Modi for his warm hospitality.

    *****

    MJPS/ST

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Answer to a written question – An end to Ryanair’s abusive fines at the airport? – E-002920/2024(ASW)

    Source: European Parliament

    Fines for air passengers not having checked in online by a certain time before departure are usually stipulated in the relevant airline’s terms and conditions of carriage.

    Under Council Directive 93/13/EEC[1] on unfair terms in consumer contracts, standard contract terms are regarded as unfair ‘if, contrary to the requirement of good faith, they cause a significant imbalance in the parties’ rights and obligations arising under the contract, to the detriment of the consumer’. Unfair contract terms are not binding on consumers.

    The indicative list of unfair terms in the annex to the directive mentions disproportionately high penalties that consumers are requested to pay when failing to comply with their obligations.

    Under current EU consumer law, the Member States are responsible for the enforcement of consumer law. Whether or not a specific contract term is unfair under Council Directive 93/13/EEC is therefore assessed by national authorities and courts.

    Depending on their assessment, Member State authorities may take appropriate action against the use of such terms. In the event of a suspected widespread infringement of consumer law, Member State authorities may also activate the Consumer Protection Cooperation Network[2] established under Regulation (EU) 2017/2394[3].

    • [1] Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts, OJ L 95, 21.4.1993, p. 29-34.
    • [2] https://commission.europa.eu/live-work-travel-eu/consumer-rights-and-complaints/enforcement-consumer-protection/consumer-protection-cooperation-network_en
    • [3] Regulation (EU) 2017/2394 of the European Parliament and of the Council of 12 December 2017 on cooperation between national authorities responsible for the enforcement of consumer protection laws and repealing Regulation (EC) No 2006/2004, OJ L 345, 27.12.2017, p.1-26.
    Last updated: 28 February 2025

    MIL OSI Europe News –

  • MIL-OSI USA: Scott Highlights Need to Confirm Trump Administration Nominees for Top Economic, Financial Regulator Posts

    US Senate News:

    Source: United States Senator for South Carolina Tim Scott

    WASHINGTON — At yesterday’s nominations hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senator Tim Scott (R-S.C.) highlighted the qualifications of President Trump’s nominees to top economic policy and financial regulator posts: 

    • Dr. Stephen Miran, nominee to be Chairman of the Council of Economic Advisors, Executive Office of the President
    • Mr. Jeffrey Kessler, nominee to be Under Secretary of Commerce for Industry and Security, Department of Commerce
    • Mr. William Pulte, nominee to be Director, Federal Housing Finance Agency
    • Mr. Jonathan McKernan, nominee to be Director, Bureau of Consumer Financial Protection

    Senator Scott emphasized the importance of quickly advancing President Trump’s nominees to rebuild the economy, restore confidence in the financial system, and ensure American families have the tools to thrive.

    Senator Scott’s opening remarks as delivered:

    I want to take a second to congratulate each of our nominees before us today and thank you for your willingness to serve our country.

    If confirmed, you will help put our nation back on the path to prosperity. 

    As we reflect on the past four years, we must acknowledge the severe damage created by the Biden administration’s reckless spending.

    It’s hard for me to forget, as a kid and my brother growing up in poverty, single parent household, watching my mother trying to make every single dollar count. She did the best she could with what she had. 

    Inflation is especially cruel to the communities like the one I grew up in.

    No one should have to make a choice between putting food on the table and keeping the lights on.

    During Joe Biden’s time in office, overall prices rose by over 20 percent, energy by 34 percent, transportation 31 percent, groceries 22 percent.

    I refuse to accept that the last four years will be the next four years.

    Unlike his predecessor, President Trump understands what it takes to create a blue-collar comeback. And I’m excited about that.

    Each of the nominees before us today will play a critical role in rebuilding the economy, restoring confidence in our financial system, and ensuring that American families can thrive once again.  

    The Council of Economic Advisers serves as the White House’s chief advisors, think tank so to speak, providing the President with data-driven guidance on policy decisions. 

    Dr. Stephen Miran is an accomplished economist with a strong record of advocating for fiscal responsibility and pro-growth policies.

    He will play an instrumental role in helping President Trump rebuild America’s economy. 

    Turning to Mr. Kessler, the Department of Commerce’s mission is to create an environment for economic growth and opportunity for all communities.

    Unfortunately, under President Biden, we saw China rapidly advance in developing advanced technologies that support its military capabilities, distort global markets, and erode competitiveness of U.S. companies.  

    Mr. Kessler’s experience in trade and national security policy will be critical in strengthening our supply chains and ensuring the U.S. leads in the next generation technologies. 

    Now, let’s talk about housing. Under President Biden, the dream of homeownership became unaffordable for millions and millions of Americans. The FHFA plays a crucial role in overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Bank – entities that significantly influence the U.S. housing finance market.

    These institutions not only impact mortgage rates and housing affordability, but also provide essential liquidity to the mortgage market, ensuring a stable supply of funds for home loans. 

    William Pulte is a businessman with a deep understanding of the housing market. His insight and passion for people will serve him well in leading the FHFA’s efforts to address our broken housing system.

    And finally, the CFPB was allegedly created to protect American consumers, but under the Biden administration, it overstepped its authority, burdened businesses with excessive politically driven regulation, and drove up costs for consumers.

    The CFPB has become a tool for progressive overreach, making it harder for small banks and lenders to serve their communities.

    Jonathan McKernan has the expertise needed to rein in the CFPB’s excesses and ensure that the agency works for consumers – not against them.

    Today’s hearing is not just about these four nominees – it is about the future of our economy and the direction of our country.

    We have an opportunity to undo the failures of the past four years and usher in a golden era of American prosperity.

    That begins by confirming these well-qualified individuals who will stand up for the American families, American workers, and for small businesses.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to West Virginia Small Businesses and Private Nonprofits Affected by July Drought  

    Source: United States Small Business Administration

    ATLANTA -The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in West Virginia of the March 31, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning July 16, 2024. 

    The disaster declaration covers the counties of Barbour, Berkeley, Grant, Greenbrier, Hampshire, Hardy, Jefferson, Mineral, Morgan, Pendleton, Pocahontas, Preston, Randolph, Tucker, Upshur and Webster in West Virginia, as well as the counties of Allegany, Garrett and Washington in Maryland, and Augusta, Bath, Clarke, Frederick, Highland, Loudoun, Rockingham and Shenandoah in Virginia. 

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.  

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.  

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. 

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    Submit completed loan applications to SBA no later than March 31, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Relief Still Available to Florida Businesses Hit by June Storms

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Florida of the April 1, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms and flooding occurring on June 11-14, 2024. 

    This disaster declaration covers the counties of Broward, Collier, Hendry, Miami-Dade, Monroe and Palm Beach. 

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises. 

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. 

    “SBA loans help eligible small businesses cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.” 

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. 

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    The deadline to return economic injury applications is April 1, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Michigan Small Businesses and Private Nonprofits Affected by April Drought

    Source: United States Small Business Administration

    ATLANTA -The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Michigan of the March 31 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began on April 25, 2024. 

    The disaster declaration covers the counties of Allegan, Barry, Bay, Calhoun, Clare, Clinton, Eaton, Gladwin, Gratiot, Ionia, Isabella, Kalamazoo, Kent, Midland, Montcalm and Saginaw. 

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.  

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. 

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition. 

    For more information and to apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    Submit completed loan applications to SBA no later than March 31, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Virginia Small Businesses and Private Nonprofits Affected by July Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Virginia of the March 31, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning on July 16, 2024. 

    The disaster declaration covers the counties of Albemarle, Augusta, Bath, Buckingham, Charlottesville, Clarke, Culpeper, Fairfax County, Fauquier, Fluvanna, Frederick, Greene, Harrisonburg, Highland, Loudoun, Louisa, Madison, Nelson, Orange, Page, Prince Wiliam, Rappahannock, Rockbridge, Rockingham, Shenandoah, Stafford, Staunton, Warren, Waynesboro and Winchester in Virginia, as well as Frederick, Montgomery and Washington counties in Maryland, and Berkeley, Hampshire, Hardy, Jefferson, Morgan, Pendleton and Pocahontas in West Virginia. 

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises. 

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. 

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and  terms based on each applicant’s financial condition. 

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    The deadline to return economic injury applications is March 31, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Virginia Lawmakers Rip President Trump’s Plans to Dissolve or Privatize the Postal Service

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine
    WASHINGTON, D.C. – Today, U.S. Senators Mark R. Warner and Tim Kaine and U.S. Representatives Bobby Scott, Gerry Connolly, Don Beyer, Jennifer McClellan, Suhas Subramanyam and Eugene Vindman (all D-VA) urged President Trump to halt any proposal that would alter the U.S. Postal Service (USPS) without congressional consultation and approval. 
    “We write to express our great concern regarding reports that you intend to dissolve the United States Postal Service’s (USPS) bipartisan Board of Governors and move the independent agency under the control of the Department of Commerce. The Postal Service plays a crucial role in keeping our communities, especially in our rural areas, connected to each other and to the wider world. From delivering prescription medications and household goods, to election ballots, paychecks, and critical bills, USPS continues to be an essential part of Americans’ everyday lives. However, press reports indicate you are planning to upend over 50 years of Congressionally-mandated independence at USPS with no clear strategy for continuing essential mail delivery services or achieving financial sustainability,” the lawmakers wrote in a letter to President Trump. “We urge you to cease the advancement of any proposal that would alter the USPS without congressional consultation and approval.”
    Since Congress passed the Postal Reorganization Act of 1970, USPS has operated as an independent agency run by a bipartisan Board of Governors who are appointed by the president and confirmed by the Senate. However, press reports have recently suggested that President Trump intends to sign an executive order to dissolve the Board and move the independent agency under the control of Secretary Howard Lutnick at the Department of Commerce. Last Friday, the president confirmed these reports when he said he was considering a “form of a merger” for the Postal Service. The letter rejects this vague and unconstitutional plan.
    Wrote the lawmakers, “Throughout our nation’s history, the Postal Service has been an integral function of the U.S. government, particularly in rural areas. While 63% of post offices in rural areas do not generate enough revenue to cover their costs, Congress continues to ensure changes do not disadvantage rural areas because all Americans deserve the same mail delivery service regardless of where they live. Given your reported interest in privatizing the Postal Service, the universal service obligation that binds the Postal Service to deliver to all Americans could be scrapped for a plan that risks cutting off rural delivery and worsening service for all.”
    The letter also references Virginia’s mail delivery issues, raising concerns that the president’s plans could upend recent improvements in mail service.
    “Virginians are unfortunately familiar with the impacts of mail delivery falling short in the Commonwealth. In late 2023, USPS chose Richmond, Virginia as the first location to implement sweeping reforms under the ‘Delivering for America’ plan, including opening the Richmond Regional Processing and Distribution Center (RPDC). Shortly after, Virginia’s on-time service performance became the worst in the country. Last year, we met with Postmaster General Louis DeJoy on three occasions to push USPS to do everything in its power to improve mail service in Virginia. Throughout the year, we saw steady improvements in USPS’s mail service as we continued to press for increased transparency, greater engagement with the public, and a higher standard of service,” they wrote.
    Continued the members, “While some communities in Virginia still experience service performance issues, we were pleased to see a USPS Inspector General report in January 2025 that found USPS had stabilized service at the Richmond RPDC, achieved most of the expected savings for fiscal year 2024, and returned statewide mail service to match nationwide averages. We fear such a significant upheaval of USPS’s governing structure and operations, as has been reported in the press, could reverse the improvement in mail service we have seen across Virginia.”
    Lastly, the Virginia lawmakers noted dismantling or privatizing the Postal Service would jeopardize its critical facilitation of the nation’s vote by mail system. 
    “We are also disturbed by the notion that a USPS merger with the Department of Commerce will insert an intense partisan agenda into the distribution of millions of mail-in ballots as we approach election season. In the 2024 election, USPS processed 99.22 million ballots, with 99.88% of ballots delivered from voters to election officials within seven days and only one day on average to deliver ballots from voters to election officials. With over 2.3 million Virginians voting absentee in the 2024 general election, it is imperative that no changes are made to USPS that would undermine its ability to facilitate free and fair elections,” they wrote.
    Concluded the lawmakers, “Any effort to ignore federal law and fire all members of the USPS’s Board of Governors – Republicans and Democrats who have been appointed by presidents and confirmed by the U.S. Senate – and move this independent agency under your control, will be met with fierce opposition. Furthermore, we request that you provide a full accounting of any changes that is being explored to alter USPS service, leadership, and personnel.”
    A copy of the letter is available here.

    MIL OSI USA News –

  • MIL-OSI: EverCommerce Presents at the Citizens JMP Tech Conference

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Feb. 28, 2025 (GLOBE NEWSWIRE) — EverCommerce Inc. (NASDAQ: EVCM), a leading service commerce platform, today announced that management will present at the following upcoming investor conferences:

    • Chief Executive Officer of EverHealth Evan Berlin and SVP & Head of Investor Relations Brad Korch will present at the Citizens JMP Technology Conference in San Francisco. The presentation is scheduled for Monday, March 3, 2025, at 11:30 a.m. PST.

    The links to the live webcasts for the conferences will be made available through the Investor Relations section of the Company’s website at: https://investors.evercommerce.com.

    About EverCommerce

    EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at EverCommerce.com.

    Investor Contact:

    Brad Korch
    SVP and Head of Investor Relations
    720-796-7664
    ir@evercommerce.com

    Press Contact:

    Jeanne Trogan
    VP of Corporate Communications
    737-465-2897
    press@evercommerce.com

    The MIL Network –

  • MIL-OSI USA: SBA Relief Still Available to Maryland Small Businesses and Private Nonprofits Affected by July Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Maryland of the March 31, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning on July 16, 2024. 

    The disaster declaration covers the counties of Allegany, Garrett and Washington in Maryland, as well as Bedford, Fulton and Somerset in Pennsylvania, and Hampshire, Mineral and Morgan in  
    West Virginia. 

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.  

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. 

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. 

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    The deadline to return economic injury applications is March 31, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI Security: Houstonian receives prison time for filing over $500,000 in fraudulent disaster relief loans

    Source: Office of United States Attorneys

    HOUSTON – A 27-year-old woman has been sentenced for conspiracy to commit wire fraud, announced U.S. Attorney Nicholas J. Ganjei.

    Khalia Douglas pleaded guilty June 13, 2024.

    U.S. District Judge Alfred H. Bennett has now ordered Douglas to serve 24 months in federal prison to be immediately followed by three years of supervised release. She must also pay $318,361.11 in restitution. At the hearing, the court heard additional evidence that described her criminal history and how her fraudulent scheme lasted 15 months. The court also heard how Douglas submitted applications for approximately 100 different individuals, and that without her, they would not have been possible. In handing down the sentence, the court noted her fraudulent scheme took advantage of programs that were designed to help those in need during a troubling time for the entire country.

    From March 2020 until June 2021, Douglas conspired with others to submit false and fraudulent applications to the Federal Emergency Management Agency (FEMA), Small Business Administration (SBA), the U.S. government and a bank for financial assistance.

    At the time of her plea, Douglas admitting to using her Instagram account “GoGettaKaee” to post multiple stories advertising her involvement in filing fraudulent SBA COVID-19 Economic Injury Disaster Loan (EIDL) applications. Such posts include “SBA is back open. $350 for method. Yes im doing applications $100 upfront & $2k when your money hit. You’ll need a real bank account.”

    Douglas accepted payment for her services via CashApp where her clients would make payments to her and send a screenshot of the completed payment as proof.

    She also submitted false EIDL applications for herself and false Paycheck Protection Program (PPP) applications for another.

    Further investigation revealed Douglas filed eight FEMA disaster assistance applications related to Hurricane Laura.

    Additionally, Douglas committed several other fraudulent acts like filing false unemployment benefits in Kansas, using another person’s name to rent her apartment and using another person’s bank account to deposit counterfeit checks.

    Authorities discovered her phone and computer contained a multitude of various documents and discussions of fraud in text messages, emails relating to fraudulent applications, false tax documents, images of counterfeit government identification documents and more.

    Due to her actions, the EIDL, PPP and the bank lost a total of $318,361.11 with an attempted loss amount of $514,415.

    Douglas received approximately $23,775 for her services.

    She was permitted to remain on bond and voluntarily surrender to a U.S. Bureau of Prisons facility to be determined in the near future.

    The Department of Homeland Security-Office of Inspector General conducted the investigation. Assistant U.S. Attorneys Rodolfo Ramirez and Elizabeth Wyman prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Economics: Costa Rica: Staff Concluding Statement of the 2025 Article IV Consultation Mission

    Source: International Monetary Fund

    February 28, 2025

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

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

    San José: An International Monetary Fund (IMF) staff team, led by Mr. Ding Ding, held the 2025 Article IV consultation with the Costa Rican authorities during February 18-28. At the conclusion of the discussions, Mr. Ding issued the following statement:

    Costa Rica is one of the fastest-growing economies in the Western Hemisphere, achieving notable economic success in recent years. GDP growth has averaged above 5 percent since 2021, outpacing regional peers and contributing to lower poverty and unemployment. Over the same period, public debt fell by an impressive 8 percentage points of GDP to below 60 percent of GDP. These successes are fruits of good macroeconomic policies, wide-ranging reforms in the context of becoming a member of the OECD, two successfully completed IMF-supported programs, and a strategic focus on exports and economic diversification. Growth is projected to remain strong at about 4 percent for 2025.

    Inflation is showing encouraging signs of returning towards the inflation target, following decisive monetary policy easing by the BCCR. Having been near zero since mid-2024, headline inflation has begun to rise and is projected to reach the BCCR’s tolerance band in mid-2025 and the 3 percent target within a year. However, core inflation remains subdued and there are downside risks, primarily stemming from low inflation expectations becoming entrenched below the target. Upside risks could arise from possible commodity price increases and/or supply-side disruptions.

    The BCCR’s forward-looking data-dependent approach has proven effective and its inflation targeting regime is working well. At the current monetary policy rate, inflation is expected to be 3 percent by 2026Q1. If the convergence of inflation to the 3 percent target weakens in the coming months, there is room for the BCCR to cut the policy rate further. Credit growth has been strong. If there are signs of excess credit growth especially associated with FX loans, macroprudential measures should be tightened to mitigate potential risks to financial stability.

    It is important to further strengthen the BCCR’s autonomy, governance, and operational framework. This would be achieved by approving legislative proposals to improve BCCR governance, transparency, and accountability, and institutionalize the central bank’s de facto autonomy.

    The exchange rate should be allowed to adjust more flexibly to market conditions. The BCCR accumulated US$ 920 million in international reserves during 2024, and reserve coverage is now comfortable by multiple metrics. A further accumulation of international reserves is unwarranted and would impose unnecessary costs over time. Moreover, frequent foreign exchange intervention can weaken monetary policy transmission and hinder foreign exchange market development. Concerted efforts including legal reforms are needed to deepen FX markets and strengthen the non-financial public sector’s ability to manage currency risks, reducing its reliance on the BCCR as an intermediary for FX transactions. Alongside the planned reform to restructure existing pension funds into generational funds, regulatory limits on foreign investments by local pension funds need to be updated. Adjustments to these limits should be phased in and supported by FX market development.

    There is scope to further capitalize on the significant progress on financial sector oversight. Indicators of financial soundness remain comfortable, notwithstanding the resolution of two small non-bank financial institutions last year. These episodes highlighted the importance of a strong supervisory and resolution framework. The Legislative Assembly should, therefore, pass the proposed amendments to the bank resolution and deposit insurance law that would further strengthen supervisory and resolution powers and enhance the crisis management framework.

    Although public debt fell to below 60 percent of GDP in 2024, the task of rebuilding fiscal space is not yet complete. The debt ratio fell in part due to some drawdown of cash balances and transfers of cash balances by decentralized and autonomous entities to the Treasury Single Account (which lowered financing needs). However, the primary surplus fell in 2024 due to temporary factors and the regrettable reductions of the vehicle property tax (marchamo) and corporate tax base. An unwinding of temporary factors is expected to help the primary balance rise to around 1½ percent of GDP this year. A higher primary balance is essential to bring debt down further, reduce interest costs, and create room for additional spending. While spending should be less than the ceiling permitted by the fiscal rule, the higher primary balance should still allow for some increases in priority areas like infrastructure, child and adult care (which will help boost female labor market participation), and investments in skills training for vulnerable groups (which will help reduce dependency on social assistance).

    Tax reforms could improve the fairness and efficiency of the system while raising resources for both debt reduction and somewhat higher spending. However, revenue-increasing bills presented over the last five years that would also have increased progressivity and bolstered dynamism have not been viewed favorably by legislators. These have included proposals to reduce VAT and income tax exemptions (such as on the salario escolar and for lottery winnings) and to bring income from self-employment, salaries, and pensions under a single threshold while raising the top marginal rate. These bills warrant renewed consideration as higher revenues would allow faster increases in social and capital spending. At the same time, we are worried that various Legislative Assembly bills are reducing revenues.

    Full implementation of the public employment bill and debt management reforms would improve spending quality and reduce interest costs. Legislative proposals aimed at amending the public employment law could significantly undermine progress in containing the public-sector wage bill. Institutions that have not yet fully implemented the public employment law should do so without further delay to ensure its benefits are broadened to beyond the central government. Legal reforms to permit access to international sovereign debt markets and grant the executive branch more flexibility in issuing external debt would also be valuable. There have been welcome improvements in the quality of government finance statistics, which are expected to be used in the setting of fiscal policies.

    A comprehensive solution is needed to resolve the dispute between Caja Costarricense de Seguro Social (CCSS) and the Ministry of Finance (MoF) over social security claims. The outstanding claim is due to an unfunded expansion of beneficiaries and CCSS’s unilateral decisions to raise the government’s contribution. Addressing this issue requires urgent improvements in the CCSS’s registry systems so as to allow for an accurate tracking of outlays and beneficiaries. Moreover, the CCSS and the MoF should clarify the scope of healthcare services and pension benefits that are currently covered by the budget while identifying additional funding sources as needed to ensure that the healthcare and pension systems are actuarially sound. Strengthening CCSS governance will be essential to ensure that any future changes to the social security system include a thorough assessment of the fiscal and labor market implications of such changes. There is also scope to enhance the accountability of the CCSS, the transparency of their operations, and the simplicity of the system, in line with international best practice. These reforms will be critical to safeguard the long-run sustainability of the social security system as the population ages.

    Advancing supply-side reforms can help sustain Costa Rica’s impressive economic performance by addressing key bottlenecks to growth. To tackle skill shortages, particularly in high-tech industries, it is essential to accelerate efforts to reduce skills mismatches, align school curricula with industry needs, promote dual education (including apprenticeship programs) and bilingual education, and improve adult secondary education graduation rates. The recent reduction of the minimum contribution base for part-time workers has helped encourage formal employment but there is scope to lower the high tax wedge on labor, substituting for alternative revenue sources. Enhancing infrastructure quality and maintenance would further strengthen potential growth. In this regard, integrating climate considerations into public investment decisions is already making infrastructure more resilient against natural disasters. Given the substantial additional funding needed to upgrade infrastructure, approving and implementing the new legislation on public private partnerships is critical. Additionally, ongoing reforms to facilitate private-sector electricity provision, including diversification into non-hydroelectric renewables, will make electricity more affordable and less vulnerable to fluctuations in rainfall.

    The IMF team is grateful to the Costa Rican authorities and other counterparts for the productive discussions and hospitality during the mission.

    Costa Rica: Selected Economic and Financial Indicators

     

     

     

     

     

     

    Projections

    2022

    2023

    2024

    2025

    2026

    2027

    Output and Prices

    (Annual percentage change)

    Real GDP

    4.6

    5.1

    4.3

    3.9

    3.8

    3.6

    GDP deflator

    6.3

    -0.1

    0.0

    2.9

    3.2

    3.2

    Consumer prices (period average)

    8.3

    0.5

    -0.4

    2.0

    3.0

    3.0

    Savings and Investment

    (In percent of GDP)

    Gross domestic saving

    14.4

    13.8

    14.3

    14.1

    14.1

    14.3

    Gross domestic investment

    17.7

    15.3

    15.7

    15.7

    15.7

    15.8

    External Sector

    Current account balance

    -3.3

    -1.4

    -1.4

    -1.6

    -1.6

    -1.5

    Trade balance

    -6.7

    -3.7

    -2.7

    -3.0

    -2.8

    -3.1

    Financial account balance

    -2.5

    -0.7

    -0.7

    -1.6

    -1.5

    -1.5

    Foreign direct investment, net

    -4.4

    -4.3

    -4.0

    -5.3

    -5.5

    -5.4

    Gross international reserves (millions of U.S. dollars)

    8,724

    13,261

    14,181

    15,056

    16,077

    16,827

    External debt

    50.7

    43.3

    38.6

    35.5

    33.3

    30.9

    Public Finances

    Central government primary balance

    2.1

    1.6

    1.1

    1.5

    1.6

    1.7

    Central government overall balance

    -2.8

    -3.2

    -3.8

    -3.0

    -2.7

    -2.3

    Central government debt

    63.0

    61.1

    59.8

    59.4

    58.4

    57.1

    Money and Credit

    Credit to the private sector (percent change)

    3.3

    1.9

    6.4

    7.5

    7.0

    7.0

    Monetary base 1/

    8.0

    7.9

    8.0

    8.0

    8.0

    8.0

    Broad money

    47.5

    47.4

    49.4

    50.1

    50.3

    50.9

    Memorandum Items

    Nominal GDP (billions of colones) 2/

    44,810

    47,059

    49,116

    52,531

    56,237

    60,132

    Output gap (as percent of potential GDP)

    -0.3

    1.0

    0.6

    0.5

    0.4

    0.2

    GDP per capita (US$)

    13,240

    16,390

    17,901

    19,013

    20,009

    21,045

    Unemployment rate

    11.7

    7.3

    6.9

    8.0

    8.5

    9.0

    Sources: Central Bank of Costa Rica, and Fund staff estimates.

    1/ Includes currency issued and required reserves.

    2/ National account data reflect the revision of the benchmark year to 2017 for the chained volume measures, published in January 2021.
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    MIL OSI Economics –