NewzIntel.com

Category: Commerce

  • MIL-OSI USA: SEC Charges Georgia-based First Liberty Building & Loan and its Owner for Operating a $140 Million Ponzi Scheme

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced that it filed charges seeking an asset freeze and other emergency relief against Newnan, Georgia-based First Liberty Building & Loan, LLC and its founder and owner Edwin Brant Frost IV in connection with a Ponzi scheme that defrauded approximately 300 investors of at least $140 million.

    According to the SEC’s complaint, from approximately 2014 through June 2025, First Liberty and Frost offered and sold to retail investors promissory notes and loan participation agreements that offered returns of up to 18% by representing that investor funds would be used to make short-term bridge loans to businesses at relatively high interest rates. The defendants allegedly told investors that very few of these loans had defaulted and that they would be repaid by borrowers via Small Business Administration or other commercial loans. The complaint also alleges that, while some investor funds were used to make bridge loans, those loans did not perform as represented, and most loans ultimately defaulted and ceased making interest payments. Since at least 2021, First Liberty operated as a Ponzi scheme by using new investor funds to make principal and interest payments to existing investors, according to the complaint. The complaint further alleges that Frost misappropriated investor funds for personal use, including by using investor funds to make over $2.4 million in credit card payments, paying more than $335,000 to a rare coin dealer, and spending $230,000 on family vacations.

    “The promise of a high rate of return on an investment is a red flag that should make all potential investors think twice or maybe even three times before investing their money,” said Justin C. Jeffries, Associate Director of Enforcement for the SEC’s Atlanta Regional Office. “Unfortunately, we’ve seen this movie before – bad actors luring investors with promises of seemingly over-generous returns – and it does not end well.”

    The SEC’s complaint, filed in the U.S. District Court for the Northern District of Georgia, charges First Liberty and Frost with violating the antifraud provisions of the federal securities laws and names five entities that Frost controlled as relief defendants. The SEC seeks emergency relief, including an order freezing assets, appointing a receiver over the entities, and granting an accounting and expedited discovery. The SEC also seeks permanent injunctions and civil penalties against the defendants, a conduct-based injunction against Frost, and disgorgement of ill-gotten gains with prejudgment interest against the defendants and relief defendants.

    Without admitting or denying the allegations in the complaint, the defendants and relief defendants consented to the SEC’s requested emergency and permanent relief, with monetary remedies to be determined by the court at a later date.

    The SEC’s investigation was conducted by Justin Delfino and Tiffany Kunkle and supervised by Peter Diskin and Mr. Jeffries. The litigation is being led by Kristin Murnahan and Graham Loomis.

    MIL OSI USA News –

  • MIL-OSI USA: Following Court Ruling Blocking Click-To-Cancel Rule, Schatz, Kennedy Introduce Legislation To Stop Deceptive Subscription Business Practices

    US Senate News:

    Source: United States Senator for Hawaii Brian Schatz

    WASHINGTON – Following a ruling from a federal court that blocked the Federal Trade Commission’s “click-to-cancel” rule that was set to go into effect on Monday, U.S. Senators Brian Schatz (D-Hawai‘i) and John Kennedy (R-La.) introduced the Unsubscribe Act. The bipartisan bill would require companies to be more transparent about their subscription-based business models and make it easier for consumers to cancel their subscriptions once their free or reduced-price trial period has ended.

    “Our bill will require companies to be more transparent about their business model and make it easier for consumers to avoid costly, automatic monthly charges they never intended to make,” said Senator Schatz. “The subscription-based business model is exploding, and it’s largely because of the deceptive practices that some companies use to lure and trap in customers. When people sign up for a free trial, they shouldn’t have to jump through hoops just to cancel their subscription before being charged.”

    “The average American is all too familiar with the headache of running around in circles to cancel a subscription before their free trial expires. Our common-sense Unsubscribe Act would make sure companies are upfront about automatic charges and make it easier to cancel subscriptions without the convoluted song-and-dance routine,” said Senator Kennedy.

    From video streaming and news to food delivery and fashion, subscription-based services have become a key part of today’s economy. A major driver of their growth is the use of free or low-cost trial offers to attract new customers. These trials give users a chance to explore the service at little to no cost before committing to a paid subscription. Unfortunately, in order to retain customers, some subscription providers rely on deceptive marketing, confusing contracts, and restrictions that make it difficult for customers to cancel their subscriptions.

    The Unsubscribe Act would:

    • Require sellers to provide customers with a clear understanding of all the terms of the contract and obtain the customer’s express and informed consent;
    • Require sellers to provide a simple means of canceling the subscription, which the customer can complete in the same way in which the original contract was entered into;
    • Require sellers to provide a clear notice to consumers when their free or reduced-cost trial is complete and before charging for the full-cost subscription;
    • Disallow automatic transfer to a contract beyond the preliminary period; and
    • Require sellers to periodically notify the customer of the terms of the contract and the cancelation mechanism.

    Companion legislation is set to be introduced in the House of Representatives by U.S. Representative Mark Takano (D-Calif.).

    “Too many consumers are lured in by free trials, only to get trapped in confusing billing cycles and cancellation mazes. The Unsubscribe Act is about fairness—it puts the burden back on companies to be honest, clear, and accountable. If a business has to trick people into staying, it does not deserve their money,” said Representative Takano.

    The Schatz-Kennedy legislation is supported by Consumer Action, Truth in Advertising, the National Consumer League (NCL), Public Citizen, and Consumer Federation of America.

    “Reining in subscription traps is a massively popular and nonpartisan issue,” said John Breyault, Vice President of Public Policy, Telecommunications, and Fraud at NCL. “Passing the Unsubscribe Act is critical to protecting consumers from these predatory practices.”

    “Consumers deserve safeguards to prevent them from being trapped into paying for a service they no longer want with no straightforward way to cancel a subscription. With this week’s win by conservative big business interests in the courts against the FTC, Senator Schatz’s Unsubscribe Act is even more critical. We applaud this sensible measure to protect the public and hope it swiftly becomes law,” said Lisa Gilbert, Co-President of Public Citizen.

    The full text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Luján, Welch Lead Colleagues in Calling Out Trump Administration’s Hypocrisy Over Accepting Qatari Plane Amid National Security Probe Into Foreign Aircraft Imports

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Washington, D.C. – Today, U.S. Senators Ben Ray Luján (D-N.M.) and Peter Welch (D-Vt.) led Senate colleagues, including Democratic Leader Chuck Schumer (D-N.Y.) and U.S. Senators Martin Heinrich (D-N.M.), Angela Alsobrooks (D-Md.), and Richard Blumenthal (D-Conn.), in demanding that Commerce Secretary Howard Lutnick provide clarification of the Department of Commerce’s ongoing Section 232 investigation into the national security implications of imports of commercial aircraft given that the Trump administration has accepted and plans to import an aircraft from Qatar.
    Specifically, the Senators press Secretary Lutnick whether the aircraft being acquired by President Trump from Qatar will be evaluated as part of the Department of Commerce’s ongoing national security investigation into the import of commercial aircraft.
    “We write to request clarification regarding the scope of the Department of Commerce’s ongoing Section 232 investigation into the national security implications of imports of commercial aircraft and jet engines, and parts for commercial aircraft and jet engines, initiated on May 1, 2025,” wrote the Senators.
    “In light of this, we ask whether the aircraft reportedly being acquired by President Trump from Qatar will be evaluated as part of the Department’s ongoing investigation,” continued the Senators. 
    “Given President Trump’s repeated emphasis on curbing foreign influence in U.S. supply chains and reducing reliance on foreign-owned assets, it would be inconsistent for a high-profile foreign acquisition of this nature to go unexamined, especially as the Department of Commerce is actively analyzing the national security implications of such imports,” the Senators concluded. 
    The full text of the letter is available here and below:
    Dear Secretary Lutnick,
    We write to request clarification regarding the scope of the Department of Commerce’s ongoing Section 232 investigation into the national security implications of imports of commercial aircraft and jet engines, and parts for commercial aircraft and jet engines, initiated on May 1, 2025.
    This investigation, initiated under Section 232 of the Trade Expansion Act of 1962, purportedly aims to assess whether these imports threaten the national security of the United States. In recent days, you have indicated that the Department expects to complete its investigation soon. Given the significance of this investigation—and its potential implications for trade policy and national security—it is essential that the process be conducted transparently.
    In light of this, we ask whether the aircraft reportedly being acquired by President Trump from Qatar will be evaluated as part of the Department’s ongoing investigation. While the aircraft is understood to be a Boeing 747-8 jetliner originally manufactured in the United States, its recent use by a foreign government and its reentry into the U.S. as a privately acquired aircraft raise serious national security concerns. It also raises questions about how such a case is categorized under the Section 232 framework.
    The aircraft, reportedly valued at $400 million, would represent one of the largest foreign gifts ever accepted by a former U.S. president—or by the U.S. government more broadly—if acquired at little or no cost. This transaction potentially conflicts with the Constitution’s Emoluments Clause, as well as the Foreign Gifts and Decorations Act. Members of Congress have written to the Department’s Inspector General and introduced a resolution and legislation addressing these concerns. While these constitutional and statutory questions are significant and pressing, we raise a different query. Specifically, we seek clarity on whether and how this transaction is being considered and factored into the Department’s ongoing national security investigation into the import of commercial aircraft.
    Given President Trump’s repeated emphasis on curbing foreign influence in U.S. supply chains and reducing reliance on foreign-owned assets, it would be inconsistent for a high-profile foreign acquisition of this nature to go unexamined, especially as the Department of Commerce is actively analyzing the national security implications of such imports. The public deserves clarity on whether and how this transaction will be factored into your department’s review.
    Accordingly, we request answers to the following:
    Will the Boeing 747-8 previously owned by the Qatari royal family and gifted to President Trump be considered within the scope of the Department’s ongoing Section232 into the national security implications of imports of commercial aircraft?
    If not, what criteria or exemptions govern that determination?
    Does the aircraft’s prior foreign government ownership affect its classification or relevance under the investigation?
    Thank you for your attention to this matter. We appreciate your commitment to completing this important review in a transparent manner.
    Sincerely, 

    MIL OSI USA News –

  • MIL-OSI Russia: China urges EU to view bilateral trade and economic relations without emotions and prejudices — Ministry of Commerce of the PRC

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 10 (Xinhua) — China on Thursday called on the European Union to view bilateral economic and trade relations without emotion and prejudice, recalling that this year marks the 50th anniversary of the establishment of diplomatic ties between China and the EU and will see important high-level exchanges.

    Commenting on recent statements by European Commission President Ursula von der Leyen, Chinese Ministry of Commerce spokesperson He Yongqian said at a regular briefing for journalists that China hopes the European side will step up communication, openness, action and consultation, rather than resort to blaming, protectionism, worrying and labeling.

    The official representative drew attention to the fact that the EU leader’s statements do not reflect the objective state of the current Chinese-European trade and economic relations and the progress achieved as a result of dialogue between the relevant departments of the parties.

    On market access, He Yongqian pointed out that China has been steadily expanding high-level opening-up, completely lifting restrictions on foreign investment in the manufacturing sector and actively increasing imports from Europe through platforms such as the China International Import Expo.

    The European Union, on the contrary, has in recent years resorted to protectionism under the pretext of fair trade, abused trade protection instruments and exploited loopholes in international trade rules to create unilateral instruments that are contrary to the fundamental principles of the World Trade Organization (WTO) and the spirit of free trade, the official representative stated.

    According to He Yongqian, the EU often initiates investigations against Chinese enterprises over subsidies and other issues, which leads to continuous regression of market opening and deterioration of the business environment.

    On the topic of subsidies, the official representative pointed to the EU’s double standards, noting that the largest source of subsidies has traditionally been the EU itself. Its subsidies, which are provided to the aviation, agricultural and other sectors, have been recognized as violations by the WTO.

    According to incomplete statistics, the EU plans to provide various subsidies totaling more than 1.44 trillion euros from 2021 to 2030, with EU member states offering additional subsidies worth hundreds of billions of euros, He Yongqian noted.

    Speaking about public procurement, she noted that in reality there are many hidden barriers in the European public procurement market and it is not at all as fair and open as the European side claims, while the EU has measures in place that stimulate the purchase of European goods.

    The European side is using international procurement instruments to take measures to restrict the participation of Chinese companies and products in public procurement of medical equipment, He Yongqian noted, adding that it was against this backdrop that China had to take mirror measures to protect the legitimate interests of its enterprises.

    Touching on the topic of export controls, the official representative stressed that China’s measures are cautious and proportionate, covering far fewer items than the EU’s export control list. He Yongqian recalled that China has created a special “green corridor” for accelerated review and approval for European enterprises, while the EU’s export controls in the high-tech sector are characterized by lengthy approvals and cumbersome procedures.

    Speaking about so-called excess capacity, the spokeswoman said excess capacity should not be measured solely by production or export volume. She said China’s new energy sector is actually facing a shortage of capacity in the global and long-term.

    As He Yongqian noted, the problem is not China’s “overcapacity” but rather the EU’s excessive anxiety caused by chronic underinvestment in R&D and the declining competitiveness of European industry.

    The official added that China hopes to work with the EU to expand mutual market access, strengthen dialogue on government procurement and export controls, deepen cooperation in supply chains, and advance WTO reform to bring more stability, certainty and positive energy to the construction of an open global economy. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI USA: Governor Kehoe Signs Bold Tax Cuts and Pro-Business Legislation into Law

    Source: US State of Missouri

    JULY 10, 2025

    Jefferson City — During a bill signing ceremony at the Missouri State Capitol, today Governor Mike Kehoe signed two major pieces of legislation—House Bills (HB) 567 and 594—delivering on his commitment to lower taxes and defend small businesses.

    “Conservative leadership is about keeping more money in the hands of Missouri families, and less in government coffers,” said Governor Kehoe. “Today, we are protecting the people who make Missouri work—families, job creators, and small business owners—by cutting taxes, rolling back overreach, and eliminating costly mandates.”

    HB 567, sponsored by Representative Sherri Gallick and Senator Mike Bernskoetter, modifies provisions relating to employee compensation.

    • Maintains the state’s minimum wage law at $15 per hour, repealing the annual Consumer Price Index adjustment, and extends the wage requirement to public employers as well as private.
    • Repeals onerous paid sick leave mandates on Missouri small businesses, including:
      • Requirements dictating when and how paid leave must be provided.
      • Burdensome record keeping and compliance obligations.

    HB 594, sponsored by Representative Chad Perkins and Senator Curtis Trent, introduces or modifies provisions relating to taxation.

    • Authorizes an income tax deduction for all capital gains reported for federal tax purposes by individuals in tax years beginning on or after Jan. 1, 2025.
      • This tax cut will be extended to corporations once Missouri’s income tax rate falls to 4.5 percent or lower.
    • Makes several modifications to the Senior Citizens Property Tax (PTC) “Circuit Breaker” Program.
      • Increases the PTC for eligible taxpayers from $1,000 to $1,550 for homeowners and from $750 to $1,055 for renters, effective Jan. 1, 2026, with annual CPI adjustments moving forward.
    • Exempts diapers, incontinence products, and feminine hygiene products from state and local sales and use taxes.

    Governor Kehoe also signed six additional pro-growth bills aimed at securing a brighter future for Missouri, including:

    • HB 516, sponsored by Representative Mark Matthiesen and Senator Nick Schroer, modifies criteria of radioactive waste investigations and allows for increased appropriations to the the radioactive waste investigations fund.
    • HB 754, sponsored by Representative Philip Oehlerking and Senator Sandy Crawford, modifies standards for certain financial organizations.
    • SB 2, sponsored by Senator Sandy Crawford and Representative Peggy McGaugh, modifies provisions relating to financial statements of certain local governments.
    • SB 3, sponsored by Senator Sandy Crawford and Representative Dave Hinman, modifies or enacts provisions relating to Department of Revenue fee offices.
    • SB 98, sponsored by Senator Sandy Crawford and Representative Bill Owen, modifies various provisions relating to financial institutions.
    • SB 221, sponsored by Senator Nick Schroer and Representative Ben Keathley, modifies the standard of review for agency interpretation of statutes, rules, regulations, and subregulatory document.

    For more information on the legislation and additional provisions signed into law, visit house.mo.gov and senate.mo.gov. Photos from the bill signing will be uploaded to Governor Kehoe’s Flickr page. Additional bill signings will continue to take place over the next several days. For more information on the bill signings, view Governor Kehoe’s schedule.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Hamden Man Who Defrauded Pandemic Relief Programs Sentenced to 15 Months in Federal Prison

    Source: United States Department of Justice (National Center for Disaster Fraud)

    David X. Sullivan, United States Attorney for the District of Connecticut, announced that David X. Sullivan, United States Attorney for the District of Connecticut, announced that OMAR RAJEH, 57, of Hamden, was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 15 months of imprisonment, followed by two years of supervised release, for defrauding COVID-19 pandemic relief programs of more than $750,000.  Judge Underhill also ordered Rajeh to pay a $2,000 fine.

    According to court documents and statements made in court, in March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act provided emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  One source of relief provided by the CARES Act was the authorization of forgivable loans to small businesses for job retention and certain other expenses through the Paycheck Protection Program (“PPP”).  The PPP was overseen by the U.S. Small Business Administration (“SBA”), and individual PPP loans were issued by private lenders, which received and processed PPP applications and supporting documentation, and then made loans using the lenders’ own funds, which were guaranteed by the SBA.  A second source of relief provided by the CARES Act was the distribution of Economic Injury Disaster Loans (“EIDLs”), through the SBA, which provided working capital to eligible small businesses to meet operating expenses.

    Rajeh maintained an ownership or management interest in a New Haven restaurant, Mediterranea LLC, and a hookah lounge, M. Café Inc.  Rajeh previously operated his restaurant under the name Al Amir LLC, but that entity was dissolved in 2018.  Al Amir LLC was reregistered with the State of Connecticut in July 2020 in order to apply for pandemic loan funding.

    Between June 2020 and May 2021, Al Amir LLC, Mediterranea LLC, and M. Café Inc., sought and received approximately $1,057,244 in PPP and EIDL funding.  Rajeh’s accountant, Yasir Hamed, prepared financial filings for his various entities and was involved in the preparation of fraudulent paperwork to obtain the funding.  The loan applications fraudulently misrepresented that Al Amir LLC was in operation in February 2020; included false employee, monthly payroll, and business revenue information; included copies of false IRS forms; and contained other false information.

    Rajeh used a majority of the funds for personal and family expenses, some of which he sent overseas; to purchase a property in North Haven; and for general business expenses.  He also kicked back approximately 10 percent of the loan funding he received to Hamed. 

    Rajeh has agreed to pay $758,279 in restitution, which reflects the amount he acknowledged knowing was obtained by fraud.  The government has agreed not to pursue the return of $298,965 in PPP funds that Rajeh received for his true restaurant business.

    On December 20, 2023, Rajeh pleaded guilty to one count of wire fraud and one count of engaging in illegal monetary transactions.  He is required to report to prison on October 1.

    On May 9, 2025, Hamed pleaded guilty to related charges.  He awaits sentencing.

    This investigation has been conducted by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation Division.  The case is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.

    Individuals with information about allegations of fraud involving COVID-19 are encouraged to report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721, or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    MIL Security OSI –

  • MIL-Evening Report: Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk?

    Source: The Conversation (Au and NZ) – By Joe Carrello, Research Fellow, The University of Melbourne

    Tanya Dol/Shutterstock

    US President Donald Trump’s proposed tariffs on Australia’s pharmaceutical exports to the United States has raised alarm among industry and government leaders.

    There are fears that, if implemented, the tariffs could cost the Australian economy up to A$2.8 billion. That’s both in direct exports and as inputs to third countries that produce drugs also hit by tariffs.

    The proposed tariffs come amid growing pressure from pharmaceutical lobby groups in the US for Trump to use trade negotiations as a tool to make changes to the Pharmaceutical Benefits Scheme (PBS) and raise Australian drug prices.

    In response, Treasurer Jim Chalmers stated the government would not compromise the integrity of the PBS to do a deal with the Trump administration. Nationals Senator Bridget McKenzie also confirmed bipartisan support for the PBS.

    Our largest export market for pharmaceuticals

    The US is Australia’s biggest pharmaceutical export market, accounting for 38% of total Australian pharmaceutical exports and valued at $2.2 billion last year.

    About 87% of exports to the US consist of blood plasma products, mainly from manufacturing giant CSL. These are used for transfusions in a range of medical and surgical situations.

    In a submission to the US Commerce Department, which is reviewing the sector, CSL called for tariffs to be phased in over five years, and for an exemption for certain biotech equipment.

    Trump floated proposed tariffs potentially as high as 200%. But he also said these would not be imposed for “about a year, a year and a half” to allow negotiations to take place.

    If tariffs are eventually implemented, there are fears domestic manufacturing may suffer, with negative flow-on effects for Australian research and innovation in the sector.

    How does the PBS work?

    The PBS is an Australian government program aimed at providing affordable prescription medicines to Australians.

    It helps reduce the cost of essential medications, ensuring access to treatments for a wide range of medical conditions. Medicines included on the PBS are subsidised by the government, with the patient making a capped co-payment. More than 900 medicines were listed on the scheme in 2023–24, costing the government $17.7 billion.

    Decisions to list medications on the PBS are made by the health minister based on recommendations from the Pharmaceutical Benefits Advisory Committee. The committee evaluates the clinical effectiveness, safety, cost-effectiveness (“value for money”) and estimated financial impact of new medications.

    If approved, the PBS uses this information to negotiate directly with pharmaceutical companies, helping to keep prices affordable.

    How does the US system compare?

    This contrasts with the US system, which operates more under free-market principles. In the US, pharmaceuticals are subsidised through private health insurance or government programs such as Medicaid. Neither directly negotiates with pharmaceutical companies.

    The fragmented nature of the US system enables pharmaceutical companies to maintain higher prices, as there is no central authority to enforce cost controls. Studies have shown that prices for pharmaceuticals in the US are, on average, 2.78 times those in 33 other countries.

    In addition, in the US pharmaceutical companies are granted extensive patent protections. These provide exclusive rights to sell their drugs for a certain period.

    This exclusivity often leads to monopolistic pricing practices, as generic competitors are barred from entering the market until the patent expires.

    In Australia, patents also exist. But the PBS mitigates their impact by negotiating prices and promoting the use of cost-effective alternatives, such as generics, once they become available.

    Industry lobbying

    US pharmaceutical industry bodies have long criticised the PBS. They claim the scheme “undervalues new innovative medicines by setting prices based on older inferior medicines and generics, and through use of low and outdated monetary thresholds per year of life gained from clinically proven treatments”.

    The slow process to list drugs on the PBS has also attracted criticism. The advisory committee meets only three times a year, with resources currently being stretched beyond capacity.

    In response to these criticisms, the Australian government commissioned a review, which was completed in 2024. It provided 50 recommendations to ensure Australians can continue to access effective, safe and affordable medicines in an equitable and timely way.

    The government has established an advisory group to work on implementing these recommendations. However, it is unclear whether proposed changes will appease the powerful US pharmaceutical industry.

    I am responsible for evaluating new health technologies for consideration of government subsidy through the Pharmaceutical Benefits Scheme (PBS) and Medicare Benefits Schedule (MBS)

    – ref. Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk? – https://theconversation.com/trump-has-flagged-200-tariffs-on-australian-pharmaceuticals-what-do-we-produce-here-and-whats-at-risk-260909

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk?

    Source: The Conversation (Au and NZ) – By Joe Carrello, Research Fellow, The University of Melbourne

    Tanya Dol/Shutterstock

    US President Donald Trump’s proposed tariffs on Australia’s pharmaceutical exports to the United States has raised alarm among industry and government leaders.

    There are fears that, if implemented, the tariffs could cost the Australian economy up to A$2.8 billion. That’s both in direct exports and as inputs to third countries that produce drugs also hit by tariffs.

    The proposed tariffs come amid growing pressure from pharmaceutical lobby groups in the US for Trump to use trade negotiations as a tool to make changes to the Pharmaceutical Benefits Scheme (PBS) and raise Australian drug prices.

    In response, Treasurer Jim Chalmers stated the government would not compromise the integrity of the PBS to do a deal with the Trump administration. Nationals Senator Bridget McKenzie also confirmed bipartisan support for the PBS.

    Our largest export market for pharmaceuticals

    The US is Australia’s biggest pharmaceutical export market, accounting for 38% of total Australian pharmaceutical exports and valued at $2.2 billion last year.

    About 87% of exports to the US consist of blood plasma products, mainly from manufacturing giant CSL. These are used for transfusions in a range of medical and surgical situations.

    In a submission to the US Commerce Department, which is reviewing the sector, CSL called for tariffs to be phased in over five years, and for an exemption for certain biotech equipment.

    Trump floated proposed tariffs potentially as high as 200%. But he also said these would not be imposed for “about a year, a year and a half” to allow negotiations to take place.

    If tariffs are eventually implemented, there are fears domestic manufacturing may suffer, with negative flow-on effects for Australian research and innovation in the sector.

    How does the PBS work?

    The PBS is an Australian government program aimed at providing affordable prescription medicines to Australians.

    It helps reduce the cost of essential medications, ensuring access to treatments for a wide range of medical conditions. Medicines included on the PBS are subsidised by the government, with the patient making a capped co-payment. More than 900 medicines were listed on the scheme in 2023–24, costing the government $17.7 billion.

    Decisions to list medications on the PBS are made by the health minister based on recommendations from the Pharmaceutical Benefits Advisory Committee. The committee evaluates the clinical effectiveness, safety, cost-effectiveness (“value for money”) and estimated financial impact of new medications.

    If approved, the PBS uses this information to negotiate directly with pharmaceutical companies, helping to keep prices affordable.

    How does the US system compare?

    This contrasts with the US system, which operates more under free-market principles. In the US, pharmaceuticals are subsidised through private health insurance or government programs such as Medicaid. Neither directly negotiates with pharmaceutical companies.

    The fragmented nature of the US system enables pharmaceutical companies to maintain higher prices, as there is no central authority to enforce cost controls. Studies have shown that prices for pharmaceuticals in the US are, on average, 2.78 times those in 33 other countries.

    In addition, in the US pharmaceutical companies are granted extensive patent protections. These provide exclusive rights to sell their drugs for a certain period.

    This exclusivity often leads to monopolistic pricing practices, as generic competitors are barred from entering the market until the patent expires.

    In Australia, patents also exist. But the PBS mitigates their impact by negotiating prices and promoting the use of cost-effective alternatives, such as generics, once they become available.

    Industry lobbying

    US pharmaceutical industry bodies have long criticised the PBS. They claim the scheme “undervalues new innovative medicines by setting prices based on older inferior medicines and generics, and through use of low and outdated monetary thresholds per year of life gained from clinically proven treatments”.

    The slow process to list drugs on the PBS has also attracted criticism. The advisory committee meets only three times a year, with resources currently being stretched beyond capacity.

    In response to these criticisms, the Australian government commissioned a review, which was completed in 2024. It provided 50 recommendations to ensure Australians can continue to access effective, safe and affordable medicines in an equitable and timely way.

    The government has established an advisory group to work on implementing these recommendations. However, it is unclear whether proposed changes will appease the powerful US pharmaceutical industry.

    I am responsible for evaluating new health technologies for consideration of government subsidy through the Pharmaceutical Benefits Scheme (PBS) and Medicare Benefits Schedule (MBS)

    – ref. Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk? – https://theconversation.com/trump-has-flagged-200-tariffs-on-australian-pharmaceuticals-what-do-we-produce-here-and-whats-at-risk-260909

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Albanese’s China mission – managing a complex relationship in a world of shifting alliances

    Source: The Conversation (Au and NZ) – By James Laurenceson, Director and Professor, Australia-China Relations Institute (UTS:ACRI), University of Technology Sydney

    Prime Minister Anthony Albanese leaves for China on Saturday, confident most Australians back the government’s handling of relations with our most important economic partner and the leading strategic power in Asia.

    Albanese’s domestic critics have lambasted him for meeting Chinese leader Xi Jinping before United States President Donald Trump. They are also aggrieved at his refusal to label China a security threat.

    But neither criticism really stacks up.

    An Albanese-Trump meeting would have happened last month on the sidelines of a G7 gathering in Canada. It was Trump who left early, standing up more leaders than just Albanese.

    Nor is Albanese the first Australian prime minister to meet a Chinese president before an American one. His predecessor Tony Abbott caught up with Xi a few weeks after coming to office in 2013, before he had a chance to meet President Barack Obama.

    ‘Friends, not foes’

    Meanwhile, polling indicates just one in five Australians see the relationship with China first and foremost as “a threat to be confronted”. Rather, a clear two-thirds majority see it as “a complex relationship to be managed”.

    Albanese is also regarded as more competent than his opposition counterpart in handling Australia’s foreign policy generally – and better at managing the China relationship specifically.

    The prime minister’s Chinese hosts also have an incentive to ensure his visit is a successful one.

    In the past fortnight, China’s ambassador in Canberra, Xiao Qian, has penned opinion pieces in two of Australia’s biggest media outlets, insisting Australia and China are “friends, not foes” and touting the “comprehensive turnaround” in bilateral ties since Labor won government in May 2022.

    Beijing and Washington view each other as their geopolitical priority. Beijing can make it harder for Washington to enlist security allies such as Canberra in this rivalry by maintaining its own strong and constructive bilateral ties with Australia.

    And quite apart from the competition with the US, China relied on Australia last year as its fifth largest import source.

    Plenty of complaints

    None of this is to say Albanese’s visit will be easy, because Australia-China relations are rarely smooth.

    Canberra continues to have many complaints about China’s international behaviour.

    For example, Foreign Minister Penny Wong recently signed a joint statement with her counterparts in Washington, Tokyo and New Delhi expressing “serious concerns regarding dangerous and provocative actions” by China in the East and South China Seas, and the “abrupt constriction […] of key supply chains”.

    Wong has also said the government remains “appalled” by the treatment of Australians imprisoned in China, including Dr Yang Jun, who is facing espionage charges he strongly denies.

    Defence Minister Richard Marles has voiced Canberra’s alarm at Beijing’s “no limits agreement” with Moscow, and claimed China has

    engaged in the biggest conventional military build-up since the end of the second world war.

    However, this assessment is contested by independent Australian analysts.

    Beijing also has plenty of complaints. They include Canberra’s ongoing pursuit of closer military cooperation with the US and UK through the AUKUS pact.

    There is also the commitment to forcing the sale of the lease to operate the Port of Darwin that is currently held by a Chinese company.

    Reliable trading partner

    Albanese has already made clear his visit to China will have a strong economic focus.

    While grappling with security challenges, any Australian government, Labor or Coalition, must face the reality that last year, local companies sold more to China – worth A$196 billion – than our next four largest markets combined.

    China is also, by far, Australia’s biggest supplier, putting downward pressure on the cost of living.

    Research produced by Curtin University, commissioned by the Australia-China Business Council, finds trade with China increases disposable income of the average Australian household by $2,600, or 4.6% per person.

    In an ideal world, Australia would have a more diversified trading mix.

    But again, any Australian government or business must grapple with the reality that obvious major alternative markets, like the US, are not only less interested in local goods and services, but are walking away from their past trade commitments.

    Under the Australia-US Free Trade Agreement signed two decades ago, Australian exporters selling to the US faced an average tariff of just 0.1%. But nowadays Washington applies a baseline tariff of 10% on most Australian imports.

    Meanwhile, owing to the China-Australia Free Trade Agreement struck in 2015, Beijing applies an average tariff of just 1.1%.

    No wonder more Australians now say China is a more reliable trading partner than the US.

    This also explains Alabese’s response when he was asked in April if he would support Trump’s trade war against China:

    It would be extraordinary if the Australian response was “thank you” and we will help to further hurt our economy

    Likewise, Trade Minister Don Farrell is adamant Australia’s interests will determine the Albanese government’s choices, not “what the Americans may or may not want”.

    We don’t want to do less business with China, we want to do more business with China.

    Deeper trade ties with Asia, including China, are not just about making a buck. Wong has stressed the national security implications of a strong economic relationship:

    [It is] an investment in our security. Stability and prosperity are mutually reinforcing.

    All of this means Albanese’s six-day visit to China is shaping up to be time well spent.

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

    – ref. Albanese’s China mission – managing a complex relationship in a world of shifting alliances – https://theconversation.com/albaneses-china-mission-managing-a-complex-relationship-in-a-world-of-shifting-alliances-260404

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Does AI actually boost productivity? The evidence is murky

    Source: The Conversation (Au and NZ) – By Jon Whittle, Director, Data61, CSIRO

    Roman Samborskyi/Shutterstock

    There’s been much talk recently – especially among politicians – about productivity. And for good reason: Australia’s labour productivity growth sits at a 60-year low.

    To address this, Prime Minister Anthony Albanese has convened a productivity round table next month. This will coincide with the release of an interim report from the Productivity Commission, which is looking at five pillars of reform. One of these is the role of data and digital technologies, including artificial intelligence (AI).

    This will be music to the ears of the tech and business sectors, which have been enthusiastically promoting the productivity benefits of AI. In fact, the Business Council of Australia also said last month that AI is the single greatest opportunity in a generation to lift productivity.

    But what do we really know about how AI impacts productivity?

    What is productivity?

    Put simply, productivity is how much output (goods and services) we can produce from a given amount of inputs (such as labour and raw materials). It matters because higher productivity typically translates to a higher standard of living. Productivity growth has accounted for 80% of Australia’s income growth over the past three decades.

    Productivity can be thought of as individual, organisational or national.

    Your individual productivity is how efficiently you manage your time and resources to complete tasks. How many emails can you respond to in an hour? How many products can you check for defects in a day?

    Organisational productivity is how well an organisation achieves its goals. For example, in a research organisation, how many top-quality research papers are produced?

    National productivity is the economic efficiency of a nation, often measured as gross domestic product per hour worked. It is effectively an aggregate of the other forms. But it’s notoriously difficult to track how changes in individual or organisational productivity translate into national GDP per hour worked.

    AI and individual productivity

    The nascent research examining the relationship between AI and individual productivity shows mixed results.

    A 2025 real-world study of AI and productivity involved 776 experienced product professionals at US multinational company Procter & Gamble. The study showed that individuals randomly assigned to use AI performed as well as a team of two without. A similar study in 2023 with 750 consultants from Boston Consulting Group found tasks were 18% faster with generative AI.

    A 2023 paper reported on an early generative AI system in a Fortune 500 software company used by 5,200 customer support agents. The system showed a 14% increase in the number of issues resolved per hour. For less experienced agents, productivity increased by 35%.

    But AI doesn’t always increase individual productivity.

    A survey of 2,500 professionals found generative AI actually increased workload for 77% of workers. Some 47% said they didn’t know how to unlock productivity benefits. The study points to barriers such as the need to verify and/or correct AI outputs, the need for AI upskilling, and unreasonable expectations about what AI can do.

    A recent CSIRO study examined the daily use of Microsoft 365 Copilot by 300 employees of a government organisation. While the majority self-reported productivity benefits, a sizeable minority (30%) did not. Even those workers who reported productivity improvements expected greater productivity benefits than were delivered.

    AI and organisational productivity

    It’s difficult, if not impossible, to attribute changes in an organisation’s productivity to the introduction of AI. Businesses are sensitive to many social and organisational factors, any one of which could be the reason for a change in productivity.

    Nevertheless, the Organisation for Economic Co-operation and Development (OECD) has estimated the productivity benefits of traditional AI – that is, machine learning applied for an industry-specific task – to be zero to 11% at the organisational level.

    A 2024 summary paper cites independent studies showing increases in organisational productivity from AI in Germany, Italy and Taiwan.

    In contrast, a 2022 analysis of 300,000 US firms didn’t find a significant correlation between AI adoption and productivity, but did for other technologies such as robotics and cloud computing. Likely explanations are that AI hasn’t yet had an effect on many firms, or simply that it’s too hard to disentangle the impact of AI given it’s never applied in isolation.

    AI productivity increases can also sometimes be masked by additional human labour needed to train or operate AI systems. Take Amazon’s Just Walk Out technology for shops.

    Publicly launched in 2018, it was intended to reduce labour as customer purchases would be fully automated. But it reportedly relied on hiring around 1,000 workers in India for quality control. Amazon has labelled these reports “erroneous”.

    More generally, think about the unknown number (but likely millions) of people paid to label data for AI models.

    AI and national productivity

    The picture at a national level is even murkier.

    Clearly, AI hasn’t yet impacted national productivity. It can be argued that technology developments take time to affect national productivity, as companies need to figure out how to use the technology and put the necessary infrastructure and skills in place.

    However, this is not guaranteed. For example, while there is consensus that the internet led to productivity improvements, the effects of mobile phones and social media are more contested, and their impacts are more apparent in some industries (such as entertainment) than others.

    Productivity isn’t just doing things faster

    The common narrative around AI and productivity is that AI automates mundane tasks, making us faster at doing things and giving us more time for creative pursuits. This, however, is a naive view of how work happens.

    Just because you can deal with your inbox more quickly doesn’t mean you’ll spend your afternoon on the beach. The more emails you fire off, the more you’ll receive back, and the never-ending cycle continues.

    Faster isn’t always better. Sometimes, we need to slow down to be more productive. That’s when great ideas happen.

    Imagine a world in which AI isn’t simply about speeding up tasks but proactively slows us down, to give us space to be more innovative, and more productive. That’s the real untapped opportunity with AI.

    Jon Whittle works at CSIRO which receives R&D funding from a wide range of government and industry clients.

    – ref. Does AI actually boost productivity? The evidence is murky – https://theconversation.com/does-ai-actually-boost-productivity-the-evidence-is-murky-260690

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: Over the year, the number of small and medium-sized companies has grown by 3%.

    Translation. Region: Russian Federal

    Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

    An important disclaimer is at the bottom of this article.

    According to the annual update of the Unified Register of Small and Medium-Sized Businesses, which is administered by the Federal Tax Service of Russia, the country has recorded an increase in companies and individual entrepreneurs. Currently, there are almost 6.4 million SMEs.

    “Based on the results of the annual update of the Unified Register of Small and Medium-Sized Businesses in Russia, 6.4 million operating companies and individual entrepreneurs have been registered. This is the highest figure since 2017, when the register was launched. We are recording a stable positive trend: compared to the previous period, the number of SMEs has increased by 3.2%, or about 200 thousand. Such results confirm the high role of small and medium businesses in the country’s economy and the effectiveness of the measures taken to support and develop them,” said Deputy Prime Minister of the Russian Federation Alexander Novak.

    The annual update of the Unified Register takes place on July 10 and reflects the most current number of SME entities. It is carried out on the basis of the reports submitted by entrepreneurs at the beginning of the year for the previous period. Companies and individual entrepreneurs that no longer meet the SME criteria or have not submitted the required reports within the established deadline are excluded from the register.

    “More and more enterprises are demonstrating dynamic development, going beyond the criteria established for small and medium-sized businesses. If previously about three thousand companies made the annual transition beyond the SME sector, this year their number approached five thousand. This indicates qualitative growth of business, its transition to a new level of maturity and scale. For such companies, we are already developing special measures to support SMEs in order to ensure their stable development and further integration into a higher-level economy,” explained Maxim Reshetnikov, Minister of Economic Development of Russia.

    “The Ministry of Economic Development of Russia also notes positive dynamics in the growth of the number of medium-sized enterprises. Currently, more than 22 thousand medium-sized companies are registered, their number has grown by 6% over the year, and by 19% compared to 2023,” commented Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova.

    As a result of monthly updates of the Unified Register of SMEs, as a rule, an increase in the number of small and medium-sized enterprises is recorded. However, during the annual update, which is carried out on July 10, a reduction in the total number of entities is usually observed. This is primarily due to the administrative features of maintaining the register and does not reflect the real state of the SME sector.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI USA: Legislation considered under suspension of the Rules of the House of Representatives during the week of July 14, 2025

    Source: US Congressional Budget Office

    The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote.

    At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.

    CBO’s estimates of the bills that have been posted for possible consideration under suspension of the rules during the week of July 14, 2025, include:

    • H.R. 131, Finish the Arkansas Valley Conduit Act, as amended
    • H.R. 410, Alaska Native Vietnam Era Veterans Land Allotment Extension Act of 2025
    • H.R. 504, Miccosukee Reserved Area Amendments Act
    • H.R. 900, Sinkhole Mapping Act of 2025, as amended
    • H.R. 1043, La Paz County Solar Energy and Job Creation Act
    • H.R. 1044, To amend Public Law 99-338 with respect to Kaweah Project permits
    • H.R. 1455, ITS Codification Act
    • H.R. 1618, Precision Agriculture Satellite Connectivity Act, as amended
    • H.R. 1709, Understanding Cybersecurity of Mobile Networks Act
    • H.R. 1717, Communications Security Act
    • H.R. 1729, Bolts Ditch Act
    • H.R. 1765, Promoting United States Wireless Leadership Act of 2025, as amended
    • H.R. 1766, NTIA Policy and Cybersecurity Coordination Act
    • H.R. 1770, Consumer Safety Technology Act
    • H.R. 2037, Open RAN Outreach Act, as amended
    • H.R. 2316, Wetlands Conservation and Access Improvement Act of 2025
    • H.R. 3657, Hydropower Relicensing Transparency Act, as amended
    • S. 1596, Jocelyn Nungaray National Wildlife Refuge Act

    MIL OSI USA News –

  • MIL-Evening Report: Will my private health insurance cover my surgery? What if my claim is rejected?

    Source: The Conversation (Au and NZ) – By Yuting Zhang, Professor of Health Economics, The University of Melbourne

    shurkin_son/Shutterstock

    The Australian Competition & Consumer Commission (ACCC) has fined Bupa A$35 million for unlawfully rejecting thousands of health insurance claims over more than five years.

    Between May 2018 and August 2023 Bupa incorrectly rejected claims from patients who had multiple medical procedures, with at least one of those procedures covered under their health insurance policy.

    Instead of paying the portion of the treatment that was covered, Bupa’s automated systems wrongly rejected the entire claim.

    Bupa admitted these errors were due to system problems and poor staff guidance, and has started to recompensate members.

    So you may be worried whether your private health insurance will cover you for the procedures you need.

    Here’s what you need to know about the different types of hospital cover. And if your claim is rejected, what to do next.

    From basic to gold

    As of March 2025, 45.3% of Australians have private health insurance for hospital cover. There are four tiers: basic, bronze, silver and gold.

    Each tier has a minimum set of “clinical categories”. These are groups of hospital treatments that must be covered.

    For example, basic hospital cover only has three mandatory inclusions: rehabilitation, hospital psychiatric services and palliative care. But this is “restricted” cover, meaning patients will often still have to pay substantial out-of-pocket costs for these services.

    Basic cover is entry-level cover, mainly for people who want to avoid the Lifetime Health Cover loading and the Medicare Levy Surcharge. These are both ways of encouraging people to take up private health insurance while young and keeping it, especially people on higher incomes.

    At the other end of the scale is gold cover, which includes unrestricted cover for all defined clinical categories, including pregnancy and birth.

    You can generally change your level of cover at any time. When you upgrade to include new services or increase benefits for existing services, you will need to serve new waiting periods for those new or increased benefits.

    A common waiting period is 12 months for pre-existing conditions (any ailment, illness or condition that you had signs or symptoms of during the six months before upgrading, even if undiagnosed), and for pregnancy and birth-related services. But there is generally only a two-month waiting period for psychiatric care, rehabilitation or palliative care, even if it’s for a pre-existing condition.

    It’s a good idea to review your policy every two years because your health needs and financial circumstances can change.

    How much do companies pay out?

    The proportion of premiums that are paid out to cover medical claims is known as the “average payout ratio”. And this has been about 84–86% over most of the past 20 years.

    This does not mean your health insurer will pay out 84–86% of your individual claim. This national average accounts for the percentage of all premiums in any one year, across all insurers, that’s paid out in claims.

    The payout ratios vary by insurer and are slightly higher for not-for-profit health insurers than for-profit insurers.

    That’s because for-profit health insurers have pressure to deliver profits to shareholders and have incentives to minimise payouts and control costs.

    If not properly managed, these incentives may result in higher out-of-pocket expenses and denied claims.

    Why has my claim been rejected?

    Common reasons for claims to be rejected include:

    • the policy excluded or restricted the clinical category

    • the waiting period was not served

    • incorrect information (for example, a doctor billed an incorrect item number)

    • what’s known as “mixed coverage” (as in the Bupa scandal), where not everything in a claim is covered, but the entire claim is declined.

    What if I think there’s an error?

    If your health insurance company refuses your claim, you can request a detailed explanation in writing.

    If you believe your claim has been incorrectly denied, you can make a formal complaint directly with the insurer. For this you need to check your policy documents, and gather supporting evidence. This may include detailed invoices, medical reports, referral letters and correct item numbers.

    If you are not satisfied with the outcome of the health fund’s internal review, or the fund doesn’t respond with the specific time-frame (for instance, 30–45 days), you can escalate your complaint.

    You can get in touch with the Commonwealth Ombudsman (phone: 1300 362 072). This provides a free, independent complaint handling service for a range of consumer issues, including health insurance.

    Bupa customers concerned about a “mixed coverage” claim can contact the company directly.

    What can governments do?

    The Bupa scandal, along with ongoing concerns about transparency and rising out-of-pocket costs, highlights the need for policy reforms to better protect consumers.

    The government should require health insurers and health-care providers to give clear estimates of all potential out-of-pocket costs for a procedure before it happens. This would avoid unexpected bills and help consumers make informed decisions about their health care.

    The government could also let the ACCC or the Australian Prudential Regulation Authority conduct regular, independent audits of insurers’ claims systems and practices.

    Yuting Zhang has received funding from the Australian Research Council (future fellowship project ID FT200100630), Department of Veterans’ Affairs, the Victorian Department of Health, National Health and Medical Research Council and Eastern Melbourne Primary Health Network. In the past, Professor Zhang has received funding from several US institutes including the US National Institutes of Health, Commonwealth fund, Agency for Healthcare Research and Quality, and Robert Wood Johnson Foundation. She has not received funding from for-profit industry including the private health insurance industry.

    – ref. Will my private health insurance cover my surgery? What if my claim is rejected? – https://theconversation.com/will-my-private-health-insurance-cover-my-surgery-what-if-my-claim-is-rejected-260702

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Larsen Announces Release of Funding for Local Transportation Projects

    Source: United States House of Representatives – Congressman Rick Larsen (2nd Congressional District Washington)

    Larsen Announces Release of Funding for Local Transportation Projects

    Washington, D.C., July 10, 2025

    Today, Representative Rick Larsen released the following statement:

    “I’m pleased that funding for several Northwest Washington transportation projects has been released by the Department of Transportation so local governments can move forward with their work as expected.

    • $1,238,680 for the Nooksack Indian Tribe to remove a culvert in Jones Creek under a BNSF Railway line in Acme (awarded Fiscal Year 2022)
    • $1,876,265 for Lummi Indian Business Council to build a new bus maintenance facility (awarded FY22)
    • $8,862,951 for Whatcom Transportation Authority to replace eight 2011 diesel buses with eight low or no emission buses (awarded FY22)
    • $9,644,865 for Whatcom Transportation Authority to purchase 11 low or no emission buses to replace three diesel buses and eight hybrid buses (awarded FY23)
    • $2,000,000 for the City of Burlington to identify which of the city’s 16 at-grade rail crossings is most suitable for grade separation to improve safety and reduce traffic congestion (awarded FY23)
    • $80,000 for the City of Ferndale’s Road Safety Improvement Plan (awarded FY24)
    • $95,000 for Samish Indian Nation’s Transportation Safety Action Plan (awarded FY24)
    • $100,000 for the City of Sedro-Woolley’s SS4A Action Plan (awarded FY24)
    • $18,090,000 for the City of Everett to eliminate two at-grade railroad crossings that pose significant risks to public safety through the construction of an overpass and new integrated roundabout near the Smith Island railroad terminal in Everett (awarded FY24)
    • $400,000 for the City of Everett to develop a supplemental Speed Management Plan (awarded FY24)

    “I will continue to push Secretary Duffy to release and obligate the funding for other Northwest Washington projects that received awards, such as the $19,500,000 grant for Skagit Transit to renovate its Maintenance, Operations, and Administration Facility and the $2,000,000 grant for to the City of Lynden to complete planning for its project to relocate Pepin Creek (both awarded FY25).”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Griffith Visits Connect Health + Wellness in Martinsville

    Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)

    U.S. Representative Morgan Griffith (R-VA), Chairman of the House Committee on Energy and Commerce Subcommittee on Health, visited Connect Health + Wellness in Martinsville, Virginia. The visit featured discussions focused on rural health care issues with hospital leadership and staff. 

    “The Martinsville-Henry County area is served by dedicated health care professionals, like those at Connect Health + Wellness,” said Representative Griffith. “I am thankful for the opportunity to tour their dental facility in Martinsville. As the new chairman of the Health Subcommittee, I support finding ways that help our rural hospitals provide critical health care access to rural communities.”

    “At Connect Health + Wellness, we are deeply committed to expanding access to high-quality and affordable medical and dental care, particularly in the rural communities we serve,” said Connect Health + Wellness CEO Marcus Stone. “We are honored to welcome Representative Griffith and to have the opportunity to showcase our work as part of the ongoing conversation about strengthening rural healthcare in our region.”

    Pictured: Rep. Griffith tours the Connect Health + Wellness dental facility.

    BACKGROUND

    This July, Representative Griffith was named Chairman of the House Committee on Energy and Commerce Subcommittee on Health. 

    In a recent Rules Committee hearing, Congressman Griffith committed to working with Energy and Commerce Committee Chairman Brett Guthrie to explore improvements to health care access for rural communities.

    Connect Health + Wellness is a Federally Qualified Health Center (FQHC).

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Luján Questions President Trump’s NOAA Administrator Nominee on Putting Facts and Science First

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján

    Dr. Neil Jacobs was involved in the 2019 “Sharpiegate,” when President Trump altered a hurricane map to falsely show Hurricane Dorian hitting Alabama, contradicting official forecasts

    Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.), a member of the Senate Committee on Commerce, Science, and Transportation, questioned Dr. Neil Jacobs, President Trump’s nominee to lead the National Oceanic and Atmospheric Administration (NOAA), about his commitment to telling the truth during emergencies.

    Dr. Jacobs, who previously served as acting NOAA Administrator during President Trump’s first term, had defended the president’s dissemination of inaccurate weather information during a severe weather emergency. The Committee hearing came in the wake of deadly flooding in New Mexico and Texas, which claimed three lives in Ruidoso.

    MSNBC – All in With Chris Hayes: Trump’s Pick to Lead NOAA Faces Senate

    WATCH: Chris Hayes Highlights Senator Lujan’s Questioning of Dr. Neil Jacobs

    Washington Post – Trump’s NOAA pick stands by budget cuts, calls staffing ‘a top priority’

    “When Sen. Ben Ray Luján (D-New Mexico) asked whether Jacobs believed Americans should have to pay for access to the best forecasting data, he answered no.”

    ABC News – Senate considers Neil Jacobs, ‘Sharpiegate’ scientist, as NOAA administrator

    “When asked by Sen. Ben Ray Luján, D-NM, on Wednesday whether he would “make the same decision again,” Jacobs replied, “There’s probably some things I would do differently.”

    The Hill – Amid bipartisan concern, NOAA nominee pledges to make Weather Service staffing a ‘top priority’

    “Asked by Sen. Ben Ray Luján (D-N.M.) whether he would “sign off on an inaccurate statement due to political pressure in the same event,” Jacobs said no.”

    An excerpt of the exchange is available HERE and below: 

    Sen. Luján: September 1, 2019, when you were NOAA’s acting administrator, President Trump erroneously tweeted Alabama had been hit hard by Hurricane Dorian. 

    Shortly after, the National Weather Service Birmingham office issued the accurate statement, “Alabama will not see any impacts from Dorian.”

    Three days later, President Trump went on TV and displayed a weather map altered with a black Sharpie line to show that Dorian would hit Alabama.

    Two days after that, you helped draft a release rebuking the Birmingham NWS, and repeating President Trump’s baseless claims that Hurricane Dorian could impact Alabama.

    You told the Department of Commerce Office of Inspector General in their investigation that you “definitely felt like our jobs were on the line,” and while you did not like it, you would make the same decision again to edit a less inflammatory statement as the least bad option. Dr. Jacobs, do I have it right? Is that correct?

    Dr. Jacobs: That is what the report found.

    Sen. Luján: You would do nothing differently?

    Dr. Jacobs: There are probably some things I would do differently, and a lot of this that I did after that, I guess, to change any potential future outcome.

    Sen. Luján: I just had constituents die in New Mexico and constituents in Texas. Would you sign off on an inaccurate statement due to political pressure in the same event, yes or no?

    Dr. Jacobs: No.

    Sen. Luján: I appreciate that very much.

    MIL OSI USA News –

  • MIL-OSI Russia: China and the United States maintain close trade and economic contacts at various levels – Ministry of Commerce of the People’s Republic of China

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 10 (Xinhua) — China and the United States maintain close economic and trade exchanges at many levels, Chinese Ministry of Commerce spokesperson He Yongqian said Thursday.

    He Yongqian made the remarks at a regular briefing when asked about a possible meeting in early August between the US Commerce Secretary and other senior trade officials with Chinese negotiators.

    The official representative noted that since May this year, guided by the consensus of the leaders of China and the United States, trade and economic delegations of the two countries have held high-level trade talks in Geneva and London, reaching consensus in Geneva and framework agreements in London. According to He Yongqian, the parties are working to practically implement these results, stabilizing bilateral trade relations.

    She expressed the hope that the United States will move towards China, adhere to the principles of mutual respect, peaceful coexistence and win-win cooperation, and make good use of the mechanism of China-US economic and trade consultations, continuing to strengthen dialogue and communication.

    The spokesperson of the Chinese Ministry of Commerce called on the US side to take concrete measures to uphold and implement the important consensus reached by the two heads of state during their recent telephone conversation, so as to promote stable, healthy and sustainable trade and economic relations between China and the US, and bring more certainty and stability to global economic development. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Caro Holdings Introduces Full-Cycle AI Automation Framework to Solve Execution Gaps for Small Businesses

    Source: GlobeNewswire (MIL-OSI)

    SHEFFIELD, United Kingdom, July 10, 2025 (GLOBE NEWSWIRE) — Caro Holdings Inc. (OTC:CAHO), through its subsidiary, announced the launch of a full-cycle AI automation framework to help small and mid-sized businesses implement systems that deliver measurable outcomes – without the complexity or cost of enterprise platforms.

    The launch addresses frustration among SMEs, where fragmented tools and disconnected workflows have slowed adoption, despite the rise of no-code platforms. While small businesses collectively save over 6.3 billion hours annually using AI, few translate that into sustainable gains.

    Caro’s automation model breaks customer acquisition and conversion into four quadrants, powered by AI and supported by human oversight:

    • Outreach – Content-Driven Attraction
      AI-generated blogs, emails, video scripts, and platform-specific social content enable small teams to execute strategies in hours not weeks. Businesses using AI for content report up to a 70% reduction in creation time.
    • Prospecting – Smart Outreach & Data Enrichment
      Caro’s enrichment engine integrates with Google Sheets, CRMs, or databases to validate contacts, enrich records, and trigger outreach across email, LinkedIn, and voice. AI prioritizes by fit and intent, while human oversight ensures relevance and compliance.
    • Engagement – Intelligent Conversation Management
      The conversation layer combines chat, voice, and AI-driven email responders with historical context and escalation protocols. It goes beyond answering questions-learning and adapting in real time. This reduces inbound handling by 40–70% while preserving the personalized touch small businesses are known for.
    • Conversion – CRM Integration & Revenue Activation
      From proposal generation to booking and payment, Caro’s system connects every step to platforms like HubSpot and Salesforce. Automation drives onboarding, customer workflows, and marketing, each tied to KPIs like CAC, LTV, and churn.

    Unlike typical enterprise tools, Caro’s framework is designed for founders, operators, and small teams-no coding or engineering expertise needed.

    Pilot programs across retail, professional services, and SaaS report:

    • 30–50% reduction in operational overhead
    • 2–3x increase in qualified lead flow
    • ROI of $4–$7 per $1 spent within 60 days

    Caro is now onboarding early-stage and growth businesses in the UK and America, with distribution supported by a growing network of resellers and agency partners.

    About Caro Holdings Inc.
    Caro Holdings Inc. is dedicated to accelerating the growth of brands through digital innovation and AI-powered solutions. Its services include e-commerce strategy, digital marketing, AI technology, and growth capital. Learn more at www.caroholdings.com.

    Caro Holdings Inc.
    +1 786-755-3210
    ir@caroholdings.com

    The MIL Network –

  • MIL-OSI USA: FDA Embraces Radical Transparency by Publishing Complete Response Letters

    Source: US Food and Drug Administration

    For Immediate Release:
    July 10, 2025

    The U.S. Food and Drug Administration (FDA) today published more than 200 decision letters, known as complete response letters (CRLs). The CRLs were issued in response to applications submitted to the FDA for approval of drugs or biological products between 2020 and 2024, marking a significant step in the Agency’s broader initiatives to modernize and increase transparency.
    By making the CRLs available, the public now has significantly greater insight into the FDA’s decision-making and the most common deficiencies cited that sponsors must address before their application is approved.
    CRLs are issued directly to product sponsors when the FDA completes its review cycle and determines that it cannot grant an approval of an application in its current form. The FDA issues CRLs for various reasons, most related to safety and efficacy concerns, manufacturing deficiencies, and bioequivalence issues. These deficiencies are detailed in the letter and may also include recommendations for addressing them.
    “For far too long, drug developers have been playing a guessing game when navigating the FDA,” said FDA Commissioner Marty Makary, M.D., M.P.H. “Drug developers and capital markets alike want predictability. So today we’re one step closer to delivering it to them, with an ultimate goal of bringing cures and meaningful treatments to patients faster.”
    Because the FDA has historically refrained from publishing CRLs for pending applications, sponsors often misrepresent the rationale behind FDA’s decision to their stakeholders and the public. According to a 2015 analysis conducted by FDA researchers, sponsors avoided mentioning 85% of the FDA’s concerns about safety and efficacy when announcing publicly that their application was not approved. Moreover, when FDA calls for a new clinical trial for safety or efficacy, that critical information is not disclosed approximately 40% of the time. Lessons learned from non-approvals are also not shared within the industry, leading companies to repeatedly make similar mistakes.
    This initial batch of published decision letters associated with since-approved applications is now accessible to the public at openFDA . The CRLs were redacted for trade secrets and confidential commercial information. The Agency is in the process of publishing additional CRLs from its archives and is continuously exploring ways of providing the public with greater transparency into its decision-making process.

    Consumer:888-INFO-FDA

    ###

    Boilerplate

    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Content current as of:
    07/10/2025

    Regulated Product(s)

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI USA: Hartford Bakery, Inc. Issues Allergy Alert on Undeclared Hazelnuts in “Lewis Bake Shop Artisan Style ½ Loaf”

    Source: US Department of Health and Human Services – 3

    Summary

    Company Announcement Date:
    July 10, 2025
    FDA Publish Date:
    July 10, 2025
    Product Type:
    Food & BeveragesBakery Product/MixAllergens
    Reason for Announcement:

    Recall Reason Description
    Undeclared hazelnuts

    Company Name:
    Hartford Bakery, Inc.
    Brand Name:

    Brand Name(s)
    Lewis Bake Shop

    Product Description:

    Product Description
    Artisan Style 1/2 Loaf

    Company Announcement
    EVANSVILLE, IN – July 10, 2025 — Hartford Bakery, Inc. is voluntarily recalling six lots of its “Lewis Bake Shop Artisan Style 1/2 Loaf” as this product may contain undeclared hazelnuts. People with a nut allergy or severe sensitivity to hazelnuts run the risk of serious or life-threatening allergic reactions if they consume these products.
    Out of an abundance of caution, Hartford Bakery, Inc. is removing all units of product included in the six effected lot codes noted below. Hartford Bakery, Inc has determined that no other lot codes were affected.
    The recalled “Lewis Bake Shop Artisan Style 1/2 Loaf” products were distributed in Michigan, Wisconsin, Illinois, Indiana, Ohio, Kentucky, Tennessee, Georgia, Arkansas, Missouri, Alabama, and Mississippi retailers, including Kroger and Walmart. The product comes in a flexible plastic bag marked with the following information:

    Lot code T10 174010206, T10 174010306, T10 174010406, T10 174020206, T10 174020306, T10 174020406 found on the front panel of packaging.
    Net Weight 12OZ (340G), UPC 24126018152 found on the bottom of packaging.
    An expiration date of 07/13/2025 found on the front panel of packaging.

    The recall was initiated after discovering that approximately 883 loaves of bread from six production lots contained visible hazelnuts and were distributed in “Lewis Bake Shop Artisan Style 1/2 Loaf” packaging. While the packaging states “May Contain Tree Nuts,” it does not state that it “Contains Hazelnuts.” An investigation revealed an error in change of packaging for a hazelnut-containing bread to the implicated white bread product.
    While there have been no major reports of injury or illness to date, Hartford Bakery is aware of one customer who experienced digestive discomfort after consumption. Hartford Bakery also received consumer complaints from those who saw the nuts before consuming the product.
    Consumers who purchased the implicated products are urged to return them to the place of purchase for a full refund. Consumers with questions may contact Hartford Bakery at 1-812-425-4642 Monday through Friday, except for holidays, from 8:00am-3:00pm CST.

    Company Contact Information

    Consumers:
    Hartford Bakery, Tracy Wingo
    1-812-425-4642,

    Product Photos

    Content current as of:
    07/10/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Pillen Announces Appointments to Newly Created School Financing Review Commission

    Source: US State of Nebraska

    . Pillen Announces Appointments to Newly Created School Financing Review Commission

    LINCOLN, NE – Today, Governor Jim Pillen announced appointments to the School Financing Review Commission, as created through the passage of LB303. The bill, which received bipartisan support from the Legislature on a vote of 48-0, was introduced on the Governor’s behalf by Senator Jana Hughes. When passed, LB303 included an emergency clause, making it effective when Gov. Pillen signed it on June 4.

    The commission, consisting of 18 members, is tasked with reviewing the state’s school funding formula – the Tax Equity and Educational Opportunities Support Act (TEEOSA) – and providing the Legislature with annual recommendations about adjustments to ensure stable state aid to schools, while also reducing property taxes.

    “I believe the state needs to fulfill its constitutional obligation to fund public K-12 education. Not run those schools but fund them. Creation of this commission is a first, but critically important step in fixing the 35-year problem that has resulted from TEEOSA,” said Gov. Pillen. “If we are to get a grip on the state’s property tax crisis, we must be willing to address the ever-growing burden that falls on property tax as a result of footing the bill for our schools.”

    Commissioner of Education Brian Maher will serve as the commission’s chairperson and the Nebraska Department of Education (NDE) will provide assistance to the group. The remaining 17 positions, and the Governor’s appointees, are listed below.

    Property Tax Administrator (or designee):

    Sarah Scott, Property Tax Administrator

    Governor’s Representative:

    Grant Latimer, Policy Advisor to Governor Pillen

    Representatives Appointed by the Legislature (three, nonvoting):

    Senator Dave Murman, Chairman, Education Committee

    Senator Eliot Bostar, Appointed by the Revenue Committee

    Senator Jana Hughes, Appointed by the Executive Board

    Postsecondary Education Representative with Expertise in School Finance:

    Paul Turman, Chancellor, State College System

    Superintendents or School Board Members from Class I, II, III Districts (four):

    Class I: Ann Foster, Superintendent, Brady Public Schools

    Class II: Jason Dolliver, Superintendent, Pender Public Schools

    Class III: Aaron Plas, Superintendent, Bennington Public Schools

    Additional: Keith Runge, President, Columbus Lakeview School Board

    Class IV District Member (one) and Class V District Member (one):

    Class IV: Liz Standish, Associate Superintendent for Business Affairs, Lincoln Public

    Class V: Shavonna Holman, School Board Member, Omaha Public

    At-Large Members (five):

    Former Senator Lou Ann Linehan

    State Treasurer Tom Briese

    Certified Public School Teacher: (This position has not yet been appointed)

    Former Senator Fred Meyer

    John Schwartz, Superintendent, Millard Public Schools

    “I appreciate the commitment of these dedicated public servants who, like me, want to ensure the quality of our state’s education, but recognize the need to balance that investment with smart tax policy, making us more competitive with our neighboring states so we can grow Nebraska,” said Gov Pillen. “We are fortunate to have leadership on this commission ready to begin this important initiative.”

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Pillen Announces Appointments to Newly Created School Financing Review Commission

    Source: US State of Nebraska

    . Pillen Announces Appointments to Newly Created School Financing Review Commission

    LINCOLN, NE – Today, Governor Jim Pillen announced appointments to the School Financing Review Commission, as created through the passage of LB303. The bill, which received bipartisan support from the Legislature on a vote of 48-0, was introduced on the Governor’s behalf by Senator Jana Hughes. When passed, LB303 included an emergency clause, making it effective when Gov. Pillen signed it on June 4.

    The commission, consisting of 18 members, is tasked with reviewing the state’s school funding formula – the Tax Equity and Educational Opportunities Support Act (TEEOSA) – and providing the Legislature with annual recommendations about adjustments to ensure stable state aid to schools, while also reducing property taxes.

    “I believe the state needs to fulfill its constitutional obligation to fund public K-12 education. Not run those schools but fund them. Creation of this commission is a first, but critically important step in fixing the 35-year problem that has resulted from TEEOSA,” said Gov. Pillen. “If we are to get a grip on the state’s property tax crisis, we must be willing to address the ever-growing burden that falls on property tax as a result of footing the bill for our schools.”

    Commissioner of Education Brian Maher will serve as the commission’s chairperson and the Nebraska Department of Education (NDE) will provide assistance to the group. The remaining 17 positions, and the Governor’s appointees, are listed below.

    Property Tax Administrator (or designee):

    Sarah Scott, Property Tax Administrator

    Governor’s Representative:

    Grant Latimer, Policy Advisor to Governor Pillen

    Representatives Appointed by the Legislature (three, nonvoting):

    Senator Dave Murman, Chairman, Education Committee

    Senator Eliot Bostar, Appointed by the Revenue Committee

    Senator Jana Hughes, Appointed by the Executive Board

    Postsecondary Education Representative with Expertise in School Finance:

    Paul Turman, Chancellor, State College System

    Superintendents or School Board Members from Class I, II, III Districts (four):

    Class I: Ann Foster, Superintendent, Brady Public Schools

    Class II: Jason Dolliver, Superintendent, Pender Public Schools

    Class III: Aaron Plas, Superintendent, Bennington Public Schools

    Additional: Keith Runge, President, Columbus Lakeview School Board

    Class IV District Member (one) and Class V District Member (one):

    Class IV: Liz Standish, Associate Superintendent for Business Affairs, Lincoln Public

    Class V: Shavonna Holman, School Board Member, Omaha Public

    At-Large Members (five):

    Former Senator Lou Ann Linehan

    State Treasurer Tom Briese

    Certified Public School Teacher: (This position has not yet been appointed)

    Former Senator Fred Meyer

    John Schwartz, Superintendent, Millard Public Schools

    “I appreciate the commitment of these dedicated public servants who, like me, want to ensure the quality of our state’s education, but recognize the need to balance that investment with smart tax policy, making us more competitive with our neighboring states so we can grow Nebraska,” said Gov Pillen. “We are fortunate to have leadership on this commission ready to begin this important initiative.”

    MIL OSI USA News –

  • MIL-OSI Canada: Minimum Wage Set to Increase October 1

    Source: Government of Canada regional news

    Released on July 10, 2025

    On October 1, 2025, minimum wage in Saskatchewan will increase to $15.35 per hour.

    Saskatchewan’s minimum wage is calculated using an indexation formula, which gives equal weight to changes to the Consumer Price Index and Average Hourly Wage for Saskatchewan.

    “By raising the minimum wage, we are continuing to support workers and deliver on our commitment to affordability,” Deputy Premier and Labour Relations and Workplace Safety Minister Jim Reiter said. “Saskatchewan’s low personal tax rates continue to make our province a great place to live, work and raise a family.”

    In 2022, the Government of Saskatchewan indicated it would make incremental increases to minimum wage which resulted in a 27 per cent increase from $11.81 per hour to $15 per hour by 2024. With that commitment having been met, the indexation formula is again in place.

    In addition to indexation, the 2025-26 Budget delivered on 13 affordability commitments which included reducing income taxes for every resident, family and small business in our province.

    “We know the benefits that increasing the minimum wage will have for employees, but we also want to create a balance for employers,” Reiter said. “Over the next few months, we will be working together with the Chambers of Commerce and other key stakeholders to understand the implications of increasing minimum wage for the business community and the impact on Saskatchewan’s economy.”

    -30-

    For more information, contact:

    Gladys Wasylenchuk
    Labour Relations and Workplace Safety
    Regina
    Phone: 306-787-2411
    Email: gladys.wasylenchuk@gov.sk.ca 

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: Dutch and European business leaders share insights on “Financial Services and FinTech, Business and Professional Services” at annual NHKBA summer event (with photos)

    Source: Hong Kong Government special administrative region – 4

    The Netherlands Hong Kong Business Association (NHKBA), with the support from the Hong Kong Economic and Trade Office in Brussels, organised the annual summer event under the theme “Financial Services and FinTech, Business and Professional Services” on July 7 (Amsterdam time) in Amsterdam, the Netherlands. The event gathered around 100 representatives from Dutch and European business leaders, and Hong Kong representatives to exchange insights on key sectors under the theme. 
     
    Speaking at the event, the Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Ms Shirley Yung, highlighted the resilience of Hong Kong’s economy amid global challenges. She emphasised, “Under the ‘one country, two systems’ principle, Hong Kong has maintained a solid institutional foundation of the rule of law, independent judiciary, robust regulatory regime, a low and simple tax system, and free flow of people, goods, capital and information, and has remained a trusted gateway to Asia and a market for global capital.”

    Ms Yung cited Hong Kong’s rankings in a number of recent surveys as one of the world’s top three international financial centres, among the top three in global competitiveness, the freest economy in the world, and home to five universities ranked in the world’s top 100.

    She further underlined that financial services remain a pillar of Hong Kong’s economy. She remarked, “Our deep capital markets, efficient banking system, and strong legal and regulatory infrastructure provide an ecosystem in which businesses from around the world can thrive. We are also embracing the future through fintech innovation.” 

    Ms Yung also updated the audience on Hong Kong’s latest efforts to refine financial regulation to balance innovation with investor protection, including the recent completion of legislation on stablecoins. She also discussed Hong Kong’s leading role in green and sustainable bond issuance in Asia.

    The NHKBA annual summer event concluded with networking sessions and engaging discussions on how Dutch and European enterprises can benefit from Hong Kong’s role as a “super connector” between Europe, Asia, and China. The evening culminated in a dinner reception, at which the Secretary for Justice, Mr Paul Lam, SC, spoke on Hong Kong’s distinctive advantages of enjoying strong support from the motherland while being closely connected to the world under the “one country, two systems” principle.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: AG Labrador Wins at Idaho Supreme Court Over Taxpayer Misuse Investigation

    Source: US State of Idaho

    Home Newsroom AG Labrador Wins at Idaho Supreme Court Over Taxpayer Misuse Investigation

    BOISE — Attorney General Raúl Labrador won a unanimous Idaho Supreme Court victory affirming his authority to investigate alleged misuse of government grants issued to charitable organizations in the state of Idaho. The Court reversed the ruling that blocked the Attorney General from obtaining information from 19 grant recipients. The Court affirmed his authority to issue civil investigative demands (CIDs) under the Idaho Charitable Assets Protection Act (“ICAPA”), the Idaho Charitable Solicitation Act (“ICSA”), and the Idaho Consumer Protection Act. Under this investigative authority, the Attorney General may issue CIDs to any person who he has “reason to believe” possesses relevant information regarding a suspected violation of ICAPA and ICSA.  “The Idaho Supreme Court unanimously confirmed we have full authority to investigate potential misuse of charitable funds and to seek information from anyone who may have relevant knowledge,” said Attorney General Labrador. “We have worked cooperatively with many entities throughout this process. Those who have worked with us understand that our goal is not to punish grant recipients but to ensure taxpayer funds were used according to state law. We will continue to defend the investigative powers the Legislature has entrusted our office.” In 2021, the Idaho Legislature established the Community Partner Grant Program using American Rescue Plan Act funds provided by Congress to help states address COVID-19’s impact on school-aged children, including learning loss. The Legislature appropriated a total of $72 million—$36 million in 2021 and $36 million in 2022—with specific restrictions requiring the funds be used only for in-person educational and enrichment activities serving children ages 5 through 13. In 2023, Attorney General Labrador received reports alleging certain grant funds were improperly used contrary to statutory requirements. He issued Civil Investigative Demands to grant recipients and others who the Attorney General believed might have knowledge of the alleged misuse of charitable funds.  The Court determined that grant funds fit within the statutory definition of charitable donations, giving the Attorney General clear authority to seek information under Idaho’s charitable protection laws. The Court ruled that the Attorney General can demand information from anyone he has reason to believe possesses relevant knowledge about suspected violations. The Court held that a single request for information within one of the 35 investigative demands was overbroad and remanded it to the district court, while upholding the Attorney General’s authority to seek relevant information. The Court declined to award attorney fees.
    Idaho Supreme Court Opinion Here. 

    MIL OSI USA News –

  • MIL-OSI Europe: Highlights – Presentation of the Danish presidency priorities – Committee on Transport and Tourism

    Source: European Parliament

    Danish Council Presidency © European Union (2025)

    On 16 July 2025 the TRAN Committee will welcome the Danish Presidency: Mr Thomas Danielsen, Minister of Transport and Mr Morten Bødskov, Minister of Business, Industry and Financial Services. The ministers will present to the Members the priorities of the Danish Presidency in the field of transport and tourism.

    The Danish Presidency aims to strengthen and future-proof Europe’s transport sector, with particular focus on boosting competitiveness, cutting administrative burdens, and driving the green transition.
    The presentation of debate will take place on Wednesday afternoon 16 July 2025 in room ANTALL 4Q2 from where it will be webstreamed..

    MIL OSI Europe News –

  • MIL-OSI Africa: Insurance Biz Africa launches pan-African Insurance Webinar Master Series

    Source: APO – Report:

    Digital news publisher, Insurance Biz Africa, is proud to announce the launch of a series of pan-African webinar sessions whose objectives are to take an unprecedented deep dive into the forces reshaping the insurance industry across Africa and the world.

    The 8-part series, themed: “Innovate. Adapt. Insure the Future“, hosted by Insurance Biz Africa, will feature two-hour webinars designed to unpack the most pressing risks, opportunities, and regulatory changes facing insurers across Africa and beyond.

    “This is a pivotal moment for the insurance industry. The annual webinar series will provide crucial insights into topics from AI and climate risk to ESG, equipping professionals and regulators to navigate volatility with confidence. The series is designed to ignite long-lasting conversations around pertinent areas of insurance and reinsurance upon which the industry can build solutions,” says Insurance Biz Africa Founding Editor and Managing Director of New Africa Business News Services (NABNS), Kwanele Sibanda.

    “At NABNS, we believe the time is ripe for bold conversations and collaborative thinking. Our series will not only educate but spark innovation, ensuring insurance and reinsurance remain pillars of economic resilience,” adds Kwanele.

    “Kicking off with Insuring Against Civil Unrests on the 23rd of July, the timing couldn’t have been more perfect, especially seeing what is currently happening across Africa in countries like Kenya, the Democratic Republic of Congo, Togo, Mali and Lybia because of political tensions. This 2-hour session will see Sasria, the only riots and civil unrests insurer in South Africa present a case study in reflection of South Africa’s July 2021 civil unrests. Sasria will also participate in the panel of experts,” concludes Kwanele.

    Insurance Webinar Master Series 2025 Themes & Dates:

    22 July 2025 – Insuring Against Unrest: Lessons from SA’s July 2021 Riots and the Evolving Role of Insurers and Reinsurers

    05 August 2025 – Cybersecurity and Systemic Risk: Building Insurance Resilience in the Digital Era

    Discuss insurance solutions for large-scale cyber events affecting entire economies.

    14 August 2025 – The Future of Underwriting: Leveraging AI, Data, and Automation Across the Insurance Value Chain

    Explore how AI and advanced analytics can revolutionize underwriting precision and speed.

    • Webinar 4:

    26 August 2025 – Bridging the Protection Gap: Innovations in Inclusive Insurance and Risk Transfer
    Innovative products, partnerships, and risk mechanisms that extend protection to underserved markets.

    04 September 2025 – ESG and Sustainable Insurance: From Compliance to Competitive Advantage
    Move beyond ESG box-ticking towards long-term, sustainable profitability.

    18 September 2025 – Index Insurance and Alternative Risk Transfer: Unlocking Scalable, Transparent Risk Solutions

    Examine new models to insure communities and sectors exposed to systemic risks.

    • Webinar 7:

    30 September 2025 – Navigating AI and Digital Disruption in Life Insurance: Risks, Rewards & Regulation

    Balance the transformative potential of AI with evolving consumer protection frameworks.

    • Webinar 8:

    09 October 2025 – Climate Change and Capital Strain: Managing Volatility in a New Risk Era

    Understand how insurers can adapt capital models amid climate-driven losses.

    Bonus Session:

    October 2025 – Insurtech and Distribution: Reimagining Customer Engagement in Insurance

    Explore new technologies reshaping sales, service, and product design.

    Each session will bring together industry leaders presenting case studies and learnings, global experts, and policymakers engaging in robust discussions, live Q&As, and actionable insights.

    Registration & Sponsorship Opportunities:

    Insurance companies, brokers, reinsurers, regulators, and service providers are encouraged to register early or partner as sponsors to showcase leadership in this high-impact series.

    For more details, registration, or sponsorship opportunities, visit: https://apo-opa.co/44yEOZH or contact info@insurancebiz.co.za

    – on behalf of New Africa Business News Services.

    Additional Information:
    To Register: https://apo-opa.co/4nIgBrg
    Insurance Biz Africa: https://apo-opa.co/4kzR4hb

    Contact:
    Issued By: New Africa Business News Services (NABNS)
    Contact: Kwanele Sibanda
    Email: Kwanele@nabns.com
    Tel: +27 27 71 316 8517

    About Insurance Biz Africa:
    Insurance Biz Africa is South Africa’s premier digital news platform dedicated to the insurance, reinsurance, and wealth management sectors. Launched in 2013, the publication offers in-depth industry coverage, expert insights, executive interviews, and regulatory updates to a targeted audience of professionals, decision-makers, and thought leaders. It is owned and published by New Africa Business News Services (NABNS), a division of SAEN Media (Pty) Ltd. The publication adheres to the Press Council of South Africa’s Code of Ethics and remains committed to journalistic integrity and excellence in financial reporting.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI USA: Kennedy on the One Big Beautiful Bill Act: “Everybody who voted against our bill voted to raise taxes on the American people”

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    Watch Kennedy’s comments here.

    WASHINGTON – Sen. John Kennedy (R-La.) delivered the following remarks on the U.S. Senate floor:

    “I’ve already heard, a lot, that the reconciliation bill that Congress passed is going to kill people. ‘People are going to die. It’s only going to help rich people.’ None of that’s true.

    “The bill that we just passed is primarily a tax cut, and taxes are not terribly complicated. When you tax something, you get less of it, right? You want to stop people wearing wristwatches—I love wristwatches, I’ve had this one for like 30 years—but if you want to stop people from wearing wrist watches, just pass a bill where every time you buy a wristwatch, you have to pay a $200 tax. Boy, that’s going to be the end of wristwatches.

    “Business is the same way. If you want businesses not to expand, tax the hell out of them so they don’t have any money to reinvest in their businesses. If you want people to work less, tax them. Take all their money. People are rational. They’ll go, ‘Why would I want to work an extra 10 hours this week? They’re taxing me. They’re going to take all my money.’

    “So, our bill is a tax cut bill. That’s all it was.

    “We passed the tax cut back in 2017, as you know, Mr. President. Those tax cuts would have expired at the end of this year. If we hadn’t passed this bill, taxes on the American people would have gone up $4.3 trillion. Not billion. $4.3 trillion. It would have tanked our economy. Our economy would have gone down like a fat guy on a seesaw.

    “And some of my friends say, ‘You only cut taxes on the rich.’ That’s not true. That’s just a lie. I mean, well over half of the tax cuts that we extended go to ordinary Americans, working people, working moms, working dads. So, the first thing we did was extend the tax cuts. We avoided $4.3 trillion worth of taxes. And, frankly, everybody who voted against our bill voted to raise taxes on the American people in the amount of $4.3 trillion. That’s just a fact.

    “Our bill did some other things, though. We added some new tax cuts. We cut taxes on tips. Now, not everybody who works for tips is going to get a tax cut, but most people are. We cut taxes on overtime. Most ordinary Americans work overtime. We cut the taxes on overtime. We cut taxes on Social Security income. We cut taxes on some car loans. We extended the child tax credit—$2,200 for every child. That’s important for most Americans. We increased the standard deduction.

    “We strengthened Medicaid. One of the things—it’s really a lie, but I’ll call it rhetoric—going around is: ‘Well, they destroyed Medicaid.’ 

    “Medicaid’s going to grow under our bill. It’s just not going to grow as fast as it was. But 10 years from now, we’ll be spending a minimum a 20% more on Medicaid—not less, more. You know the biggest change we made to Medicaid: work requirements.

    “Now, the American people are the most compassionate people in the world. If you’re hungry, we’ll feed you. If you’re homeless, we’ll house you. If you’re too poor to be sick, we’ll pay for your doctor. We’re a generous people.

    “But those who can work should work. And we’ve got some people on Medicaid who are perfectly healthy. They’re not disabled. They don’t have young kids at home. I’m not talking about a mom with a sick child in her arms. They don’t have minor children at home. They just don’t want to work. They want to get Medicaid, but they don’t want to work.

    “Those who can work should work, and all our bill does is say, ‘Look, you can still keep your Medicaid, but if you can work—not if you’re disabled, not if you’re elderly, not if you’re in a nursing home—but if you’re a healthy adult at home playing video games, you’ve got to go look for a job. And you’ve got to work at least 20 hours a week—not 40 hours a week—20 hours a week. What’s unreasonable about that?

    “The other change made to Medicaid was that some people—not most people, but some people—when they sign up for Medicaid, they lie. They say, ‘I’m only making $25,000 a year.’ In fact, they might be making $75,000 or $100,000 a year. I’m not exaggerating. I’ve seen that happen.

    “What we’ve told the states is, ‘Twice a year for our folks on Medicaid, you have to check their eligibility. Make sure they’re not making more than they’re supposed to because Medicaid is not for everybody.’

    “What’s wrong with that? What’s wrong with saying to people, ‘You’re not entitled to Medicaid if you’re not eligible?’ What’s unreasonable about that? We’re not killing people. We’re trying to save Medicaid so that we can afford it for people who really need it. 

    “The other two things this bill did . . . it provided more money for border enforcement. Now, I know there are many people in America and many people in the Senate who believe in open borders. I respect that. They may not say it, but they do. They just think the border ought to be wide open, and they think that if you believe in secure borders, you’re a racist. I don’t agree with them, but this is America. They’re entitled to their opinion.

    “Most Americans don’t think that. Most Americans want the border to be secure. They want to know who is coming in and out of their country, and this bill is going to provide the money to do that.

    “The other part of our bill as you know, Mr. President, provides much needed money for our military because we live in a dangerous world, and I wish we didn’t, but we do. And weakness invites the wolves.” 

    Watch Kennedy’s speech here.  

    MIL OSI USA News –

  • MIL-OSI Canada: Investor Alert: Bitget and Captex Are Not Registered

    Source: Government of Canada regional news

    Released on July 10, 2025

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities Bitget also known as Canada Bitget Limited, and CapTex.

    “The FCAA urges Saskatchewan residents to always check an entity’s registration status at aretheyregistered.ca before making an investment,” FCAA Securities Division Executive Director Dean Murrison said. “Registration status indicates if a business is legitimate. Only dealing with registered entities is an easy way to protect yourself and keep your investments safe.”

    Bitget claims to operate a cryptocurrency exchange platform and offers Saskatchewan residents trading opportunities in cryptocurrencies via margin trading and futures contracts. CapTex claims to offer Saskatchewan residents trading opportunities, including stocks, cryptocurrencies, indices, commodities, forex and precious metals.

    This alert applies to the online entities using the websites “bitget com” and “cap-tex io” (these URLs have been manually altered so as not to be interactive).

    Bitget and CapTex are not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses. 

    If you have invested with Bitget, CapTex or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

    In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.

    Tips to protect yourself:

    • Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
    • Know exactly what you are investing in. Make sure you understand how the investment, product or service works.
    • Get a second opinion and seek professional advice about the investment.
    • Do not allow unknown or unverified individuals to remotely access your computer.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: Kaine Statement on Virginia’s Slip in ‘Top States for Business’ Ranking

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C.—Today, U.S. Senator Tim Kaine released the following statement after Virginia fell behind North Carolina, Texas, and Florida in the CNBC’s Top States for Business report for 2025: 

    “Virginia’s slip in CNBC’s Top States for Business ranking once again highlights that the chaos and uncertainty caused by President Trump’s tariffs, the slashing of federal funding, and the politicizing and hollowing out of the federal workforce are gut punches to Virginia’s economy. While I’m glad to see Virginia ranked first in the education category, I worry we won’t hang on to it for long if Trump keeps meddling in our universities. I will continue to do everything I can to protect Virginia’s economy and schools from this disastrous administration.”

    Virginia ranked first on CNBC’s list multiple times while Kaine was governor, including during the list’s first-ever release in 2007.  

    MIL OSI USA News –