NewzIntel.com

Category: Commerce

  • MIL-OSI Security: Woman admits to submitting false disaster relief applications resulting in $620,000 loss

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

    HOUSTON – A 34-year-old former Houston resident has pleaded guilty to conspiracy to commit wire fraud, announced U.S. Attorney Alamdar S. Hamdani.

    From March 2020 until March 2021, Cora Chantail Custard conspired with others to submit false and fraudulent loan applications for financial assistance both personally and on behalf of others.

    The co-conspirators submitted false applications to the Small Business Administration (SBA), Federal Emergency Management Agency (FEMA) and multiple state unemployment insurance agencies.

    Over the course of the conspiracy, Custard resided in both Houston and San Antonio.

    As part of her plea, Custard admitted to using her Facebook account to advertise her services to file fraudulent disaster relief applications. Custard’s posts repeatedly described the scheme to her social media followers as “doing apps,” with the ability to obtain between $6,000 and $8,000 for an application within four to seven days of filing.

    Custard submitted or caused the submission of over 100 fraudulent Economic Injury Disaster Loan applications, at least 36 of which resulted in advance payments totaling $345,000.

    Further investigation revealed Custard filed at least 30 fraudulent FEMA Disaster Benefit applications related to Hurricane Laura in August 2020 and Hurricane Sally in September 2020. At least 16 of those fraudulent applications resulted payouts totaling approximately $75,000.

    Additionally, Custard committed several other fraudulent acts like filing over 100 false unemployment insurance applications in Michigan, Illinois and several other states for her own and others’ benefits. At least 20 of those fraudulent applications resulted in payments totaling approximately $200,000.

    Due to her actions, multiple agencies lost a total of $620,000.

    U.S. District Judge David Hittner will impose sentencing in January 2025. At that time, Custard faces up to five years in federal prison and a possible $250,000 maximum fine.

    She was permitted to remain on bond pending that hearing.

    The Department of Homeland Security-Office of Inspector General (OIG), IRS-Criminal Investigation, Treasury Inspector General for Tax Administration, Social Security Administration-OIG, SBA-OIG and Department of Labor-OIG conducted the investigation.

    Assistant U.S. Attorney Karen M. Lansden is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI USA: Fitzgerald Co-Introduces Bill to Protect American Businesses from Russian Lawfare

    Source: United States House of Representatives – Congressman Scott Fitzgerald (WI-05)

    WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05) co-introduced the Protecting American Businesses from Russian Litigation Act of 2024 to shield American businesses from frivolous Russian lawfare. The bill closes an existing loophole in federal law and amends Chapter 111 of Title 28 of the United States Code to ensure that U.S. persons are protected from lawsuits that result from good faith compliance with U.S. sanctions and export controls.

    “Following Putin’s invasion into Ukraine, Russia has waged an aggressive campaign against American companies that withdrew their services from the country to comply with U.S. imposed sanctions designed to weaken the regime. Russian courts have wrongly awarded large claims against these companies, and Russian litigants have used these decisions as evidence to sue in U.S. Federal courts. This is wrong. Wisconsin businesses who distribute internationally should not be punished for good-faith compliance with U.S. sanctions. That’s why I’m proud to cosponsor the Protecting Americans from Russian Litigation Act, which will amend U.S. Code to shield U.S. persons from frivolous lawsuits for good faith compliance with U.S. sanctions and export controls,” said Rep. Fitzgerald.

    BACKGROUND: In response to Russia’s February 2022 invasion of Ukraine, the U.S. government imposed sanctions and export controls on Russia. To comply with these measures, U.S. companies wound down operations and ceased work in Russia. As a result, U.S. companies have been targeted by Russian litigants seeking damages and being awarded large and inflated claims by Russian courts against U.S. companies. These subjective decisions are then used as the basis for Russian litigants to seek significant damages under U.S. law – essentially functioning as a countersanction for Russia.

    American companies shouldn’t be punished for simply complying with U.S. sanctions and export controls. The Protecting American Businesses from RussianLitigation Act of 2024 will protect American companies and their interests so that they are not subject to litigation for good faith compliance with U.S. sanctions and export controls.

     ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Mann Blocks Biden-Harris Electric Vehicle Mandate

    Source: United States House of Representatives – Representative Tracey Mann (Kansas, 1)

    WASHINGTON, D.C. – Today, U.S. Representative Tracey Mann (KS-01) voted to disapprove of the Biden-Harris Administration’s U.S. Environmental Protection Agency’s (EPA) tailpipe emissions rule that requires automobile manufacturers to reduce greenhouse gas emissions and air pollutants by nearly 50% in vehicle fleets modeled in the years 2027 through 2032. Under EPA’s estimation, the rule would require two-thirds of new cars in the United States to be electric by 2032. H.J. Res 136 passed in the U.S. House of Representatives by a vote of 215-191. Rep. Mann, who cosponsors the legislation, released the following statement after the vote:

    “No matter how much the Biden-Harris Administration tries to deny its electric vehicle mandate, the archaic, bureaucratic rules and regulations speak for themselves,” said Rep. Mann. “Under EPA’s rules, automobile manufacturers will be bullied into producing more electric vehicles for the sake of meeting arbitrary quotas and standards set by the federal government. Rather than focus on reducing the record-high energy costs facing American families, the Biden-Harris Administration has again chosen to ignore the facts and focus on its radical climate agenda. Businesses should make production decisions that best meet the demand of consumers, business needs, and objectives, not the demands of Uncle Sam. Kansans who want to buy electric vehicles should be able to buy them because they want to, not because Vice President Harris and President Biden think it’s best.”

    Last week, Rep. Mann rejected EV tax subsidies that could benefit the Chinese Communist Party. In June 2024, Rep. Mann pressed U.S. Secretary of Transportation Pete Buttigieg on the impact of the Biden-Harris Administration’s electric vehicle mandate on the wear and tear of U.S. roads and highways.

    ###

    For more information about Representative Mann, visit: www.mann.house.gov.

     

    MIL OSI USA News –

  • MIL-OSI USA News: FACT SHEET: Biden-⁠ Harris Administration Highlights New Actions to Support Women’s Economic  Security

    Source: The White House

    Today, the Biden-Harris Administration is announcing new resources to support women’s economic security and convening stakeholders to discuss the Biden-Harris Administration’s efforts to ensure that women age with the financial security that they deserve.
     
    Under the leadership of President Biden and Vice President Harris, working age women’s labor force participation is the highest on record, the gender pay gap has narrowed, and the Administration is ensuring that women have access to good jobs and safe workplaces free from discrimination.  Still, women—and women of color in particular—experience workplace inequities throughout their lives, including as a result of discrimination, pay disparities, occupational segregation, and unpaid caregiving responsibilities.  These inequities can add up to millions of dollars lost over the course of a lifetime and contribute to a retirement savings gap between men and women.  While women typically retire with less savings than men, they are also living longer—thereby, experiencing more financial strain as they age.  
     
    The Council of Economic Advisers is releasing a new issue brief on the Economic Security of Older Women highlighting the economic challenges that compound over the course of a woman’s life and underscoring that women are more vulnerable to economic shocks.  The issue brief also highlights Biden-Harris Administration policies that have helped mitigate these challenges and ensure women’s economic security as they age.
     
    Since Day One, President Biden and Vice President Harris have fought to improve women’s economic security and protect and strengthen Social Security, Medicare, and Medicaid—lifelines for millions of women.  From lowering prescription drug costs for millions of seniors through the historic Inflation Reduction Act to issuing new rules to ensure that the financial advice that Americans get for retirement is in their best interest, the Biden-Harris Administration is taking action to support women’s financial security.  The Biden-Harris Administration is also closing gaps in women’s health research, ensuring that women enter retirement more securely, supporting families’ access to care, and protecting women from financial fraud and scams. 
     
    As part of the ongoing efforts to support women’s economic security, the Biden-Harris Administration is announcing the following new actions:
     
    Supporting Employment Training and Housing for Seniors. The Department of Labor (DOL)—through the Senior Community Service Employment Program—is awarding more than $200 million in new grants to support training and employment for older adults.  Through these grants, participants—the majority of whom are women—are connected to jobs, gaining critical workplace skills and a pathway to financial stability.  The Department of Health and Human Services (HHS) is announcing nearly $3 million in funding for the Elder Justice Innovation Grants.  Because traditional emergency housing options often cannot meet the needs of older adults, older women experiencing abuse are often forced to return to unsafe environments; these funds will support emergency and transitional housing tailored to the needs of older women.
     
    Providing New Resources to Help Support Women’s Retirement Security.  HHS is announcing a new guide to services and resources—including tools for retirement planning and financial literacy—to assist women in planning for a healthy financial future in older age.  DOL is publishing resources to assist women navigating challenging retirement scenarios, including a new effort to educate attorneys and advocates on qualified domestic relations orders, a critical step in dividing a couple’s retirement assets in the event of a divorce.  The Department of Treasury is publishing a new issue brief on the unique challenges that many women face in retirement, and how the Biden-Harris Administration’s implementation of the SECURE 2.0 Act—including the Saver’s Match, emergency savings provisions, and expanded coverage for part-time workers—will help mitigate the gender retirement savings gap.  And the Social Security Administration is releasing a new resource for women and their families about how they can better access Social Security benefits and services.  

    Protecting Women’s Earnings and Savings.  The Consumer Protection Financial Bureau (CFPB) is announcing new efforts to help older women—who are more vulnerable to certain financial frauds and scams—protect their hard-earned savings.  Today, the CFPB spotlighted the legal challenges faced by surviving spouses—often women—who may be pursued for their spouse’s medical debt.  Some states have enacted laws making clear that surviving spouses are not responsible for their deceased partners’ debts, and others limit the circumstances in which a surviving spouse is responsible; however, the CFPB has found that debt collectors may try to capitalize on a surviving spouse’s vulnerabilities by attempting to collect their deceased spouse’s unpaid medical bills without real consideration of whether the surviving spouse actually owes the debt.  This follows the CFPB’s proposed rule earlier this year, announced by Vice President Harris, which proposed to remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.  The CFPB will also release a report on the barriers that older Americans face in banking that financial institutions must work to address, including loss of a spouse, cognitive challenges, and changes in health.  The Equal Employment Opportunity Commission is releasing a new resource highlighting enforcement activities and public education efforts to combat sex and age discrimination.
     
    Today’s announcements build on the Biden-Harris Administration’s actions to help ensure women age with financial security, including—
     
    Lowering Health Care Costs for Women
     
    The President and Vice President believe that health care is a right, not a privilege, and have expanded health care to millions more Americans while lowering health care costs.  The Administration continues to build on, strengthen, and protect Medicare, Medicaid, and the Affordable Care Act and has signed historic new laws to lower prescription drug costs and health insurance premiums.  The President’s prescription drug law, the Inflation Reduction Act, is directly benefiting women with Medicare, including nearly 30 million women enrolled in Medicare Part D.  These actions are especially important for women, who typically face higher health care costs than men and who are more likely than men to take less medication than was prescribed because of cost—with even greater disparities for women of color.  To help address these challenges, the Biden-Harris Administration is:

    • Lowering the Cost of Insulin.  The Administration is delivering on the President’s promise to lower health care costs by capping seniors’ insulin costs at $35 for a month’s supply.  As a result, all 3.4 million Medicare Part D enrollees who filled an insulin prescription in 2023 had their insulin costs capped at $35 per month, saving some seniors hundreds of dollars for a month’s supply and lowering costs for about 733,000 women enrolled in Part D and B.
    • Capping Out-of-Pocket Prescription Drug Costs. Under the President’s leadership, HHS is implementing a $2,000 out-of-pocket cap for prescriptions drugs costs for Medicare Part D enrollees.  In 2025, when the cap goes into effect, nearly 19 million seniors and other beneficiaries are projected to save $400 per year on prescription drugs. 
    • Lowering the Cost of Prescription Drugs. For the first-time ever, the Administration announced new, lower prices for the first ten drugs selected for Medicare drug price negotiations, including for drugs that women disproportionately use.  For example, one of the first 10 drugs is Enbrel—an arthritis treatment; women comprise 72 percent of the enrollees who use Enbrel; a woman with Medicare who takes Enbrel and pays $1,777 today for a 30-day supply would pay only $589 to fill her prescription when the negotiated prices take effect—a 67% decrease in out-of-pocket costs.
    • Lowering the Cost of Health Insurance. Millions of women are saving an average of $800 on health insurance premiums thanks to the Administration’s expansion of the Premium Tax Credit.  This expansion has helped drive health insurance coverage to a record high, while the Affordable Care Act continues to ensure that insurance companies cannot charge women more just because of their gender.

    Supporting Women’s Financial Security

    The Biden-Harris Administration is committed to ensuring that women are supported throughout their working lives—by ensuring access to high-quality jobs, robustly enforcing workplace antidiscrimination laws, and closing gender wage gaps—and as they enter retirement.  The Administration is working to ensure women’s financial security as they age by:

    • Safeguarding Social Security Equity and Efficiency.  Social Security is the bedrock of financial security for American seniors and for millions of Americans with disabilities.  President Biden and Vice President Harris are committed to protecting and strengthening Social Security.  SSA also administers the Supplemental Security Income (SSI) program, which provides monthly payments to people with disabilities and older adults who have little or no income and resources; older women are more likely than older men to rely on SSI, making up 64% of SSI recipients aged 65 or older.  To simplify and increase access for individuals, SSA announced the first phase of an online, streamlined SSI application; published three final rules simplifying how non-monetary support from friends and family is counted; and initiated efforts to expedite decisions for people with severe disabilities.  SSA has also deployed a targeted outreach strategy to ensure that beneficiaries are aware of the benefits SSA pays to widowed and divorced spouses and dependents of eligible workers—a population disproportionately comprised of older women.  To help ensure that all beneficiaries receive the benefits that they are entitled to, SSA is also translating more materials into more languages, improving access to interpretation services, and developed a Limited English Proficiency Toolkit.  The Biden-Harris Administration is fighting to ensure that SSA has the funding they need to continue administering these crucial programs.
    • Protecting Women’s Retirement Savings.  Earlier this year, DOL issued a final rule to close loopholes and ensure that the financial advice that Americans get for retirement is in their best interest.  DOL’s rule will protect the millions of Americans, including millions of women, who are diligently saving for retirement when they rely on advice from trusted professionals on how to invest their savings.  The rule will require trusted investment advice providers to give prudent, loyal, and honest advice, and prevent them from providing recommendations that favor the investment advice providers’ interests—financial or otherwise—at retirement savers’ expense.  These new safeguards will save tens or even hundreds of thousands of dollars per impacted middle-class saver.  The Administration is also implementing the SECURE 2.0 Act, which allows survivors of domestic abuse to elect to receive penalty-free distributions from an employer-sponsored retirement plan. 
    • Providing Housing Security for Vulnerable Women. The Department of Housing and Urban Development continues to support housing for older Americans, including through the Home Equity Conversion Mortgages for Seniors program, which allows seniors to withdraw a portion of their home equity for additional income, and the 202 program, which offers direct loans and capital for the provision of secure and supportive housing facilities for older persons.  These programs—which predominantly support older women— allow senior homeowners to age in place and help expand the supply of affordable housing by providing low-income older Americans with options that allow them to live independently but in an environment that provides support for daily necessities. 

    Supporting Families’ Access to Care

    The Biden-Harris Administration—through implementation of the President’s Care Executive Order—is working to ensure that older women have the support they need as they age as well as to care for the ones they love.  Even as older adults require care, they are also often the ones who provide it.  One in four older women provide some form of unpaid caregiving, and, without training and support, their health, well-being, quality of life, and financial future can suffer.  The Administration is supporting families’ access to care by:

    • Ensuring Safety and Quality Care in Long-Term Care Facilities. Adequate staffing is proven to be one of the measures most strongly associated with safety and good care outcomes.  To ensure safety and quality care, earlier this year, Vice President Harris announced that HHS finalized a rule to require all nursing homes that receive federal funding through Medicare and Medicaid to have 3.48 hours per resident per day of total staffing, including a defined number from both registered nurses and nurse aides.  This means a facility with 100 residents would need at least two or three registered nurses and at least ten or eleven nurse aides as well as two additional nurse staff (which could be registered nurses, licensed professional nurses, or nurse aides) per shift to meet the minimum staffing standards.  Many facilities would need to staff at a higher level based on their residents’ needs.  It will also require facilities to have a registered nurse onsite 24 hours a day, seven days a week, to provide skilled nursing care, which will further improve nursing home safety.   And HHS released a new “know-your-rights” resource for women to ensure that women can access safe and culturally competent health care free from discrimination and with protections to their privacy. 
    • Supporting Family Caregivers. Through the American Rescue Plan, the Administration provided $145 million to help the National Family Caregiver Support Program deliver counseling, training, and short-term relief to family caregivers and other informal care providers.  HHS issued a report documenting actions taken by the Biden-Harris Administration to implement the first-ever National Strategy to Support Family Caregivers; these actions have created new initiatives that directly support family caregivers, strengthened existing programs, and improved coordination across the federal government to improve the lives of family caregivers.  HHS has also taken steps to support family caregivers’ access to training and beneficiary information during the hospital discharge planning process, published the Guiding and Improving Dementia Experience Model to support people living with dementia and their caregivers, and announced new funding opportunities to develop new approaches to support family caregivers.  HHS also published a guide to help older women find programs and services—such as respite care, support groups and individual counseling—to help them maintain their own health and well-being while being a caregiver for others.  And the Department of Veterans Affairs (VA) launched a program to provide mental health counseling services to family caregivers caring for our nation’s heroes.  
    • Investing in Care Infrastructure and Supporting Caregivers and Care Workers. The Administration is committed to raising the wages and quality of care worker jobs, and to investing in care infrastructure. In March 2024, SBA announced new funding opportunities to support small businesses in the child care sector as well as the creation of a child care business development guide, which will provide resources for child care businesses on starting and running a business throughout the business life cycle.  In addition, SBA is launching a lender campaign to highlight the resources SBA has available to support small, minority-owned, and women-owned businesses, including child care businesses, and will discuss additional reforms to support the growth of child care capacity across the country.  The Administration is also taking steps to ensure Service members and military spouses—the vast majority of whom are women—have the support they need to care for themselves and their families while serving our country, including by strengthening hiring and retention of military spouses across the federal government, and expanding access to child care and other employment resources.  And the Department of Labor has published sample employment agreements so domestic home care, child care, and long-term care workers and their employers can help ensure all parties better understand their rights and responsibilities.

    Protecting Women from Financial Fraud and Scams

    The Biden-Harris Administration is working to protect the savings that older Americans have worked their entire lives to build. Each year, Americans over 60-years-old lose billions of dollars to scams.  The Federal Trade Commission (FTC), the Consumer Financial Protection Bureau, and other regulatory agencies are taking action to crack down on frauds and scams that too often target older Americans by—

    • Protecting Older Women from Financial Fraud. FTC is pursuing actions against scammers who target or disproportionately impact older adults in their schemes, including those who conduct prize, sweepstakes, and lottery scams; tech support scams; and family and friend impersonation.  Last year, FTC’s past enforcement efforts resulted in relief of more than $285 million to consumers.
    • Equipping Older Women with Tools and Resources to Protect Against Scams.  FTC chairs the Scams Against Older Adults Advisory Group focused on expanding consumer education and outreach efforts; improving industry training on scam prevention; identifying innovative or high-tech methods to detect and stop scams; it has produced a report on what research shows are effective tactics in scam-prevention messaging.  And the CFPB has released resources to assist older adults—who are disproportionately women—navigate later-in-life challenges, such as resources to navigate critical financial moments after losing a spouse; tools to avoid financial exploitation; and information to help safeguard finances. 

    ###

    MIL OSI USA News –

  • MIL-OSI Europe: Highlights – Exchange of views with Dr Péter Takács, Hungarian Council Presidency – Committee on the Environment, Public Health and Food Safety

    Source: European Parliament

    On 23 September, ENVI Members will hold an exchange of views with the Secretary of State for Health, Dr Péter Takács. The debates are expected to focus on the priorities of the Hungarian Council Presidency.

    In July, Hungary began its presidency of the EU Council, which will run until 31 December 2024. Concerning health policy (Employment, Social Policy, Health and Consumer Affairs Council), Hungary plans to focus on health policy elements where reforms are needed. In particular, the Hungarian Presidency intends to make progress on the EU pharmaceutical package, with the aim of establishing competitive, sustainable and patient-centered pharmaceutical legislation. It also plans to tackle cardiovascular diseases and address organ transplantation.

    The hearing will start with a presentation by the Secretary of State, followed by rounds of questions raised by the Members.

    MIL OSI Europe News –

  • MIL-OSI Economics: New wave of Copilot innovation coming to education

    Source: Microsoft

    Headline: New wave of Copilot innovation coming to education

    Enhance your AI journey with Business Chat and Copilot Pages, updates to Copilot in the Microsoft 365 apps, Copilot agents, enterprise data protection, and more.

    We’re introducing a new wave of Microsoft Copilot innovation with Business Chat and Copilot Pages, updates to Copilot in the Microsoft 365 apps, Copilot agents, enterprise data protection, and more. In this blog we’ll share new education insights, recap the latest innovations coming to our customers with Copilot and Microsoft 365 Copilot, and provide resources to support your AI journey.

    AI is reshaping education, and institutions need a plan. With new education insights from the 2024 Work Trend Index Annual Survey, it’s clear that AI use in education is here with 71% of education professionals using it at work. At the same time, 63% reported their institutions lack a vision and plan to implement AI, likely contributing to 81% of education professionals not using tools provided to them—but instead choosing to bring their own AI to work (BYOAI).

    Discover insights from the 2024 Work Trend Index Annual Survey

    As the future of work and education continues to evolve with AI innovation, it’s increasingly important to ensure that educators and students are engaged and encouraged to build AI literacy. 77% of business leaders say with AI, early-in-career talent will be given greater responsibilities, yet many education professionals express reluctance to admit to using AI and say they don’t know how to use it effectively. Learn more about the need for bridging the AI literacy gap and starting AI conversations in our AI in Education Report.

    Explore the AI in Education Report

    Enhancing Microsoft Copilot with enterprise data protection

    Microsoft Copilot is your AI assistant for education, providing secure access to advanced AI models for free so you can focus on what matters most. We’ll continue bringing new models to Copilot, now including GPT-4o, and capabilities like recent chats to reference or continue previous chats. In August 2024, we shared several additional updates to enhance data security, privacy, compliance, and user experience which begins rolling out today. While signed in with a school account, Copilot will offer enterprise data protection (EDP) in a simplified, ad-free interface that can be accessed at Microsoft.com/copilot, in the Microsoft 365 app, and will soon be available in Microsoft Teams and Outlook. 

    Enterprise data protection means that your Copilot prompts and responses are protected by the same terms and commitments that are widely trusted by our customers—not only for Microsoft 365 Copilot, but also for emails in Exchange and files in SharePoint. With EDP, we secure your data, your data is private, and your access controls and policies apply based on the underlying subscription plan. Additionally, we help safeguard against AI-focused risks such as harmful content and prompt injections, and your data isn’t used to train foundation models.

    Learn more about enterprise data protection
    Microsoft Copilot, now with enterprise data protection and available at Microsoft.com/copilot and in the Microsoft 365 app.

    Education institutions like Wichita Public Schools and Auburn University have already leveraged Copilot to empower students, faculty, staff, and researchers. We look forward to continuing to support institutions worldwide in their mission to provide equitable AI access and learning about where Copilot is improving educational outcomes.

    These updates will be available to all educators, staff, and higher education students aged 18 and older over the next month. We’re also excited to continue our private preview program for students 13 and older, now with enterprise data protection. For more information, review the enterprise data protection FAQ.

    Microsoft Copilot Wave 2 innovation

    Microsoft 365 Copilot, integrated into the apps you use every day and available as an add-on, has added 150 new features and capabilities since general availability and more than 700 product updates based on customer feedback. We’ve announced three key updates: Business Chat and Copilot Pages, transforming Copilot in the Microsoft 365 apps, and Copilot agents.

    Business Chat and Copilot Pages

    • Business Chat (BizChat) is a central hub that brings together all your data—web data, work data, and line of business data—with the rich capabilities of the Microsoft 365 apps. BizChat is where you can work with Copilot like a partner, turning organizational content into a rich database of information and insight.
    • Copilot Pages is a dynamic, persistent canvas in BizChat designed for AI collaboration to ensure the data in your organization is persistent, accessible, and valuable. You and your team can work collaboratively in a Page with Copilot, seeing everyone’s work in real time. In the coming weeks, we’re also bringing Pages to the free Microsoft Copilot when signed in with a Microsoft Entra account.

    Updates to Copilot in the Microsoft 365 apps

    • Copilot in Excel is now generally available with new skills, and we announced Copilot in Excel with Python—empowering anyone to conduct advance analysis or visualize complex data—all using natural language, no coding required. 
    • Copilot in PowerPoint now offers Narrative Builder, helping you to iterate with Copilot to build a great first draft in minutes and with Brand manager, Copilot can leverage your organization’s branded templates.
    • Copilot in Teams can now reason over both the meeting transcript and the meeting chat to give you a complete picture of what was discussed and leave no question, idea, or contribution behind.
    • Copilot in Outlook helps you quickly get to the messages that matter with Prioritize My Inbox, which analyzes your inbox and soon, you’ll even be able to teach Copilot the specific topics, keywords, or people that are important to you.
    • Copilot in Word will enable you to quickly reference not only Word, PowerPoint, PDFs, and encrypted documents, but also emails and meetings, and offers the ability to partner with Copilot inline as you work on specific sections of your document.
    • Copilot in OneDrive is rolling out now and makes it easy to gain insights, summarize, and compare up to five files with a clear, easy-to-ready summary of the details and differences within your files—without opening a file.

    Copilot agents

    • Now generally available in BizChat, Copilot agents run the spectrum from simple, prompt-and-response agents that anyone can build, to more advanced, fully autonomous agents.
    • Simple and secure to manage, all agents have the same Responsible AI and enterprise data protection promises—your data never leaves the Microsoft 365 trust boundary, and everything happens within your tenant.
    • To make it even easier to build custom agents, we announced agent builder. It’s a new, simplified experience that complements Copilot Studio to enable easy creation of custom agents and realize the value of your organizational data.

    Copilot is transforming productivity in the workplace, empowering customers to accelerate research on rare diseases, save customer service agents hours each week, or go from content ideation to production significantly faster, and more.

    In education, institutions like the University of South Florida are preparing students for this new future of work and are already seeing the value for their faculty and staff. We’ll also continue to enhance the value of Microsoft 365 Copilot with capabilities built for students and educators.

    The University of South Florida is preparing students for the future of work and seeing the benefits of Microsoft 365 Copilot for their faculty and staff.

    Get started on your AI journey

    With new innovations and improvements coming every day, one constant is the importance of providing guidance, learning opportunities, and resources. We’ve compiled a relevant list below to help you get started.

    Learn from more educators, and students:

    Explore and share AI resources:

    • Microsoft Education AI Toolkit: Designed to guide school leaders through the process of integrating AI into their school’s operations and building robust plans for your organization.
    • AI for educators learning pathway: Explore the potential of AI in education, enhance teaching and learning with Microsoft Copilot, and equip and support learners.
    • AI Classroom Toolkit: A creative resource that blends engaging narrative stories with instructional information to create an immersive learning experience.
    • Microsoft Copilot Scenario Library: Get inspired with guidance by departments such as IT, HR, Legal, Communications, Operations, and more.
    • Copilot technical skilling resources: A collection of kits, learning paths, Microsoft Mechanics videos, resources for developers, and upcoming events for Microsoft 365 Copilot.
    • Worklab: explore the latest research insights on the future of work and generative AI
    • Minecraft Education AI Foundations: A set of accessible, engaging materials for building AI literacy with Minecraft for students, educators, and families.
    • AI Guidance for Schools Toolkit from TeachAI: Designed to help education authorities, school leaders, and teachers create thoughtful guidance.

    MIL OSI Economics –

  • MIL-OSI Banking: New wave of Copilot innovation coming to education

    Source: Microsoft

    Headline: New wave of Copilot innovation coming to education

    Enhance your AI journey with Business Chat and Copilot Pages, updates to Copilot in the Microsoft 365 apps, Copilot agents, enterprise data protection, and more.

    We’re introducing a new wave of Microsoft Copilot innovation with Business Chat and Copilot Pages, updates to Copilot in the Microsoft 365 apps, Copilot agents, enterprise data protection, and more. In this blog we’ll share new education insights, recap the latest innovations coming to our customers with Copilot and Microsoft 365 Copilot, and provide resources to support your AI journey.

    AI is reshaping education, and institutions need a plan. With new education insights from the 2024 Work Trend Index Annual Survey, it’s clear that AI use in education is here with 71% of education professionals using it at work. At the same time, 63% reported their institutions lack a vision and plan to implement AI, likely contributing to 81% of education professionals not using tools provided to them—but instead choosing to bring their own AI to work (BYOAI).

    Discover insights from the 2024 Work Trend Index Annual Survey

    As the future of work and education continues to evolve with AI innovation, it’s increasingly important to ensure that educators and students are engaged and encouraged to build AI literacy. 77% of business leaders say with AI, early-in-career talent will be given greater responsibilities, yet many education professionals express reluctance to admit to using AI and say they don’t know how to use it effectively. Learn more about the need for bridging the AI literacy gap and starting AI conversations in our AI in Education Report.

    Explore the AI in Education Report

    Enhancing Microsoft Copilot with enterprise data protection

    Microsoft Copilot is your AI assistant for education, providing secure access to advanced AI models for free so you can focus on what matters most. We’ll continue bringing new models to Copilot, now including GPT-4o, and capabilities like recent chats to reference or continue previous chats. In August 2024, we shared several additional updates to enhance data security, privacy, compliance, and user experience which begins rolling out today. While signed in with a school account, Copilot will offer enterprise data protection (EDP) in a simplified, ad-free interface that can be accessed at Microsoft.com/copilot, in the Microsoft 365 app, and will soon be available in Microsoft Teams and Outlook. 

    Enterprise data protection means that your Copilot prompts and responses are protected by the same terms and commitments that are widely trusted by our customers—not only for Microsoft 365 Copilot, but also for emails in Exchange and files in SharePoint. With EDP, we secure your data, your data is private, and your access controls and policies apply based on the underlying subscription plan. Additionally, we help safeguard against AI-focused risks such as harmful content and prompt injections, and your data isn’t used to train foundation models.

    Learn more about enterprise data protection
    Microsoft Copilot, now with enterprise data protection and available at Microsoft.com/copilot and in the Microsoft 365 app.

    Education institutions like Wichita Public Schools and Auburn University have already leveraged Copilot to empower students, faculty, staff, and researchers. We look forward to continuing to support institutions worldwide in their mission to provide equitable AI access and learning about where Copilot is improving educational outcomes.

    These updates will be available to all educators, staff, and higher education students aged 18 and older over the next month. We’re also excited to continue our private preview program for students 13 and older, now with enterprise data protection. For more information, review the enterprise data protection FAQ.

    Microsoft Copilot Wave 2 innovation

    Microsoft 365 Copilot, integrated into the apps you use every day and available as an add-on, has added 150 new features and capabilities since general availability and more than 700 product updates based on customer feedback. We’ve announced three key updates: Business Chat and Copilot Pages, transforming Copilot in the Microsoft 365 apps, and Copilot agents.

    Business Chat and Copilot Pages

    • Business Chat (BizChat) is a central hub that brings together all your data—web data, work data, and line of business data—with the rich capabilities of the Microsoft 365 apps. BizChat is where you can work with Copilot like a partner, turning organizational content into a rich database of information and insight.
    • Copilot Pages is a dynamic, persistent canvas in BizChat designed for AI collaboration to ensure the data in your organization is persistent, accessible, and valuable. You and your team can work collaboratively in a Page with Copilot, seeing everyone’s work in real time. In the coming weeks, we’re also bringing Pages to the free Microsoft Copilot when signed in with a Microsoft Entra account.

    Updates to Copilot in the Microsoft 365 apps

    • Copilot in Excel is now generally available with new skills, and we announced Copilot in Excel with Python—empowering anyone to conduct advance analysis or visualize complex data—all using natural language, no coding required. 
    • Copilot in PowerPoint now offers Narrative Builder, helping you to iterate with Copilot to build a great first draft in minutes and with Brand manager, Copilot can leverage your organization’s branded templates.
    • Copilot in Teams can now reason over both the meeting transcript and the meeting chat to give you a complete picture of what was discussed and leave no question, idea, or contribution behind.
    • Copilot in Outlook helps you quickly get to the messages that matter with Prioritize My Inbox, which analyzes your inbox and soon, you’ll even be able to teach Copilot the specific topics, keywords, or people that are important to you.
    • Copilot in Word will enable you to quickly reference not only Word, PowerPoint, PDFs, and encrypted documents, but also emails and meetings, and offers the ability to partner with Copilot inline as you work on specific sections of your document.
    • Copilot in OneDrive is rolling out now and makes it easy to gain insights, summarize, and compare up to five files with a clear, easy-to-ready summary of the details and differences within your files—without opening a file.

    Copilot agents

    • Now generally available in BizChat, Copilot agents run the spectrum from simple, prompt-and-response agents that anyone can build, to more advanced, fully autonomous agents.
    • Simple and secure to manage, all agents have the same Responsible AI and enterprise data protection promises—your data never leaves the Microsoft 365 trust boundary, and everything happens within your tenant.
    • To make it even easier to build custom agents, we announced agent builder. It’s a new, simplified experience that complements Copilot Studio to enable easy creation of custom agents and realize the value of your organizational data.

    Copilot is transforming productivity in the workplace, empowering customers to accelerate research on rare diseases, save customer service agents hours each week, or go from content ideation to production significantly faster, and more.

    In education, institutions like the University of South Florida are preparing students for this new future of work and are already seeing the value for their faculty and staff. We’ll also continue to enhance the value of Microsoft 365 Copilot with capabilities built for students and educators.

    The University of South Florida is preparing students for the future of work and seeing the benefits of Microsoft 365 Copilot for their faculty and staff.

    Get started on your AI journey

    With new innovations and improvements coming every day, one constant is the importance of providing guidance, learning opportunities, and resources. We’ve compiled a relevant list below to help you get started.

    Learn from more educators, and students:

    Explore and share AI resources:

    • Microsoft Education AI Toolkit: Designed to guide school leaders through the process of integrating AI into their school’s operations and building robust plans for your organization.
    • AI for educators learning pathway: Explore the potential of AI in education, enhance teaching and learning with Microsoft Copilot, and equip and support learners.
    • AI Classroom Toolkit: A creative resource that blends engaging narrative stories with instructional information to create an immersive learning experience.
    • Microsoft Copilot Scenario Library: Get inspired with guidance by departments such as IT, HR, Legal, Communications, Operations, and more.
    • Copilot technical skilling resources: A collection of kits, learning paths, Microsoft Mechanics videos, resources for developers, and upcoming events for Microsoft 365 Copilot.
    • Worklab: explore the latest research insights on the future of work and generative AI
    • Minecraft Education AI Foundations: A set of accessible, engaging materials for building AI literacy with Minecraft for students, educators, and families.
    • AI Guidance for Schools Toolkit from TeachAI: Designed to help education authorities, school leaders, and teachers create thoughtful guidance.

    MIL OSI Global Banks –

  • MIL-OSI USA: Jayapal, Bonamici, Merkley Introduce Legislation to Stop Predatory Payday Lending Practices

    Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

    WASHINGTON, DC – Congresswomen Pramila Jayapal (D-WA) and Suzanne Bonamici (D-OR) and Senator Jeff Merkley (D-OR) introduced legislation to protect consumers from predatory payday lending practices.

    The Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2024 would safeguard consumers as predatory payday lenders have continued to flourish online despite laws passed by many states to stop abusive lending. Internet lenders hide behind layers of anonymously registered websites and “lead generators” to evade enforcement and can empty consumers’ bank accounts before they have a chance to assert their rights.

    “Payday lenders take advantage of working families, struggling to pay medical bills or rent, by trapping them in a seemingly endless cycle of debt,” said Congresswoman Pramila Jayapal. “I’m proud to lead this legislation with Congresswoman Bonamici that would protect consumers across the country by closing loopholes, increasing transparency, and putting an end to these predatory lending practices. Congress has a responsibly to protect hardworking people from bad actors, and that’s exactly what we will accomplish with our SAFE Lending Act.”

    “Predatory payday lenders rob hard-working individuals and families of their resources at a time when they are financially vulnerable,” said Congresswoman Suzanne Bonamici. “The SAFE Lending Act would finally put an end to the unscrupulous practices payday lenders use to trap consumers in an unending cycle of debt.”

    “Predatory payday lenders trap hardworking Americans in an inescapable vortex of debt,” said Senator Jeff Merkley. “Before we kicked payday lenders out of Oregon, they preyed on families in my blue-collar neighborhood. We need strong consumer protections to break this cycle of endless debt for families across America.”

    The SAFE Lending Act is endorsed by the National Consumer Law Center (on behalf of its low-income clients), Consumer Action, Consumer Federation of America, Main Street Alliance, U.S. PIRG, and UnidosUS. It would:

    1. Give Consumers Control of Their Own Bank Accounts

    • Prevent third parties from gaining control of a consumer’s account through remotely created checks (RCCs) – checks from a consumer’s bank account created by third parties. To prevent unauthorized RCCs, consumers would be able to preauthorize exactly who can create an RCC on his or her behalf, such as when traveling.
    • Allow consumers to cancel an automatic withdrawal in connection with a small-dollar loan. This would prevent an internet payday lender from stripping a checking account without a consumer being able to stop it.

     2. Allow Consumers to Regain Control of their Money and Increase Transparency

    • Require all lenders, including banks, to abide by state rules for the small-dollar, payday-like loans they may offer customers in a state. Many individual states currently have much tougher laws than the federal government. There is currently no federal cap on interest or limit on the number of times a loan can be rolled over.
    • Increase transparency and create a better understanding of the small-dollar loan industry by requiring payday lenders to register with the Consumer Financial Protection Bureau.
    • Ban overdraft fees on prepaid cards issued by payday lenders who use them to gain access to consumers’ funds and to add to the already exorbitant costs of payday loans.
    • Require the CFPB to monitor any other fees associated with payday prepaid cards and issue a rule banning any other predatory fees on prepaid cards.

     3. Ban Lead Generators and Anonymous Payday Lending

    • Some websites describe themselves as payday lenders but are actually “lead generators” that collect applications and auction them to payday lenders and others. This practice is rife with abuse and has led to fraudulent debt collection.
    • The SAFE Lending Act bans lead generators and anonymously registered websites in payday lending.

    The bill also requires the Government Accountability Office to conduct a study on access to capital on Tribal lands and directs the Consumer Financial Protection Bureau to promulgate rules to implement this legislation.  

    A one-page summary of the SAFE Lending Act can be found here. The full text of the legislation can be found here.

    In the House, the legislation is cosponsored by Representatives Susan Wild (D-PA) and Katie Porter (D-CA).

    The Senate, the legislation is cosponsored by Senators Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Ron Wyden (D-OR), Chris Van Hollen (D-MD), Bernie Sanders (I-VT), Dick Durbin (D-IL), Edward J. Markey (D-MA), Martin Heinrich (D-NM), and Tina Smith (D-MN).

    Issues: Jobs, Labor, & the Economy

    MIL OSI USA News –

  • MIL-OSI USA: House Passes Congressman Meuser’s Protecting U.S. Business Sovereignty Act

    Source: United States House of Representatives – Congressman Dan Meuser (PA-9)

    Washington, D.C. – Yesterday, the House of Representatives passed H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, introduced by Congressman Bill Huizenga. The bill includes a beneficial provision authored by Rep. Dan Meuser (R-PA), H.R. 4653, the Protecting U.S. Business Sovereignty Act.

    Rep. Meuser’s legislation specifically targets foreign overreach by addressing the European Union’s Corporate Sustainability Due Diligence Directive (CSDDD), requiring the Securities and Exchange Commission (SEC) to study how this EU directive harms U.S. businesses.

    CSDDD imposes politically motivated environmental and social mandates on U.S. businesses operating in European markets, threatening U.S. economic sovereignty, and harming our economy. Any U.S. business that does $100 million in revenue in the EU is captured and forced to comply or face heavy penalties.

    “Let me be clear—Republicans are not against ESG as an investment choice,” said Congressman Meuser. “If individual investors want to prioritize environmental, social, or governance factors, that’s their freedom. What we oppose is when these ideological views are mandated—when investors and businesses are forced to comply with burdensome regulations that prioritize political ideology over profitability.”

    Congressman Meuser’s legislation prioritizes economic growth, limits regulatory overreach, and safeguards the freedom of choice for American investors. Congressman Meuser urges the Senate to swiftly pass this important legislation to ensure American businesses and investors are protected from harmful, unnecessary mandates.

    Text of H.R. 4653, the Protecting U.S. Business Sovereignty Act, can be found here.

    ###

    MIL OSI USA News –

  • MIL-OSI: Hanover Bank Hosts Celebration to Thank Community

    Source: GlobeNewswire (MIL-OSI)

    MINEOLA, N.Y., Sept. 20, 2024 (GLOBE NEWSWIRE) — Michael P. Puorro, Chairman and Chief Executive Officer of Hanover Bancorp, Inc. (Nasdaq: HNVR), the bank holding company for Hanover Community Bank, announced they hosted a cocktail party at their Hauppauge Business Banking center on Thursday, September 19, 2024 to thank the many people and businesses who have contributed to their success and welcomed them to Suffolk County.

    Hanover Bank recognizes that success is never accomplished alone. Since its expansion into Suffolk County, Hanover has received an enormous amount of support from its clients, the community, the businesses, and the leaders of this region. The scores of people and businesses that rolled out the red carpet for Hanover are all a part of the fabric and foundation that makes Suffolk County one of New York’s most vibrant business hubs. With a philosophy that success comes through helping others succeed, Hanover wishes to recognize all this support by showing its appreciation and celebrating so many friends and associates.

    Michael Puorro stated, “Being a part of the Long Island Innovation Park at Hauppauge was the perfect choice for us when we decided to expand into Suffolk County. We have experienced such a tremendous amount of goodwill and enthusiasm that hosting this celebration is our way of thanking and honoring the many people who help us grow and succeed every day. This entire evening is dedicated to showing our appreciation and gratitude for the overwhelming warmth and welcome we have received.”

    The Hanover Bank building was developed and built as a state-of-the-art office facility and is located at 410 Motor Parkway, Hauppauge, NY. The developer and owner of this property, Craig Padover, President of Aresco 410 LLC, worked closely with Kelly Murphy, Executive Director and CEO, Suffolk County Industrial Development Association (IDA) to take this vacant lot and transform it into a Class-A office building.

    “Much like the theme behind this celebration, the development of this beautiful, thoughtful building is the true definition of collaboration and partnership,” said Suffolk County Industrial Development Agency CEO/Executive Director Kelly Murphy. “This newest addition serves as the official gateway into the Long Island Innovation Park at Hauppauge and represents endless opportunity for those who walk through its doors. Long Islanders pride themselves on their quality of life and Hanover Bank’s building mirrored that sentiment with their employee-focused design and amenities. We congratulate Hanover Bank for anchoring this property now and into the future as we wish them continued success in the years to come,” stated Ms. Murphy.

    “In a project spearheaded and implemented by the Smithtown Supervisor Ed Wehrheim, our building was one of the first in the Innovation Park at Hauppauge to fully understand and take advantage of the Town of Smithtown overlay zone change along with the Suffolk County sewer expansion allowing the building to rise over sixty feet. Further, we are thrilled that Hanover Bank is a part of 410 Motor Parkway’s success,” stated Craig Padover.

    Hanover Bank is so proud to contribute to the local and regional economy by employing approximately sixty-five people that operate from this business center. Logistically, this location allows us to further service the Long Island community with commercial, municipal, and consumer retail banking products. By contributing to the local economy, and by working and transacting business with many of Long Island’s most successful organizations and municipalities, our Hauppauge Business Banking Center allows us to leverage our existing relationships across business lines to deliver unparalleled service to this region.

    “There is much to celebrate and so many individuals to thank. We felt it was only fitting to recognize “the village” of people who have supported our growth, and last night was our way of showing our gratitude and letting them know how important they all are to us,” concluded Michael Puorro.

    About Hanover Community Bank and Hanover Bancorp, Inc.

    Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a commercial community bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover employs a complete suite of consumer, commercial, and municipal banking products, and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York and Freehold, New Jersey.

    Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at https://hanoverbank.com.

    Media and Press Contact:
    Annette Esposito
    First Vice President – Director of Marketing
    (516) 548-8500

    The MIL Network –

  • MIL-OSI USA: Gallego Urges Administration Not to Punish Arizona for Ozone Pollution Outside Its Control

    Source: United States House of Representatives – Representative Ruben Gallego (AZ-07)

    September 19, 2024

    WASHINGTON – Today, Rep. Ruben Gallego (AZ-03) sent a letter to the Environmental Protect Agency (EPA) urging it to expand its research and study of ozone levels in the Intermountain West to investigate why ozone concentrations are not decreasing despite repeated efforts by states and localities to implement ozone reduction policies.

    “Based on the EPA’s own Good Neighbor Ozone Modeling, over 80% of the emissions assigned to Arizona are not produced or controlled by residents, but rather come from Natural Sources, International Transport, and Interstate Transport,” Rep. Gallego wrote. “Furthermore, there is a concerning trend in which ozone levels remain the same or even increase in some areas even as rigorous emissions activities are being put in place. States and localities are struggling to understand this trend, and that is where we need the EPA’s assistance.”

    In the letter, Rep. Gallego asks the EPA to use its vast scientific resources and expertise to study the divergence between monitored ozone levels and documented reductions in ozone precursor emissions in the Intermountain West, improve understanding of background and baseline ozone levels, and examine the policy implications of ozone implementation, including transportation planning.

    The letter is supported by the Maricopa Association of Governments (MAG) and the Arizona Chamber of Commerce and Industry.

    “While we are proud of the achievements and prosperity we have advanced in our region, we appreciate Rep. Gallego’s recognition that the challenge of addressing ozone pollution requires a better understanding of what is leading to rising ozone concentrations,” said Chandler Mayor Kevin Hartke, Chair of MAG.

    “We appreciate Rep. Gallego for his proactive and practical approach to addressing Arizona’s unique air quality challenges. It’s crucial to have leaders in Washington who understand the need to balance environmental stewardship with economic development, and who are willing to push back against federal regulations that threaten Arizona’s job creation and competitiveness. We’re thankful for the Congressman’s leadership and look forward to continuing to work together to protect jobs and foster sustainable growth in Arizona,” said Arizona Chamber President & CEO Danny Seiden.

    “In my extensive conversations with stakeholders throughout Arizona, it is clear that local leaders are committed to protecting public health while continuing to grow sustainably, especially in the fields of clean energy production and green technology manufacturing,” Rep. Gallego concludes. “Doing so will require federal engagement as well as local buy-in, and the research requested here could go a long way in ensuring that local ozone reduction efforts are focused on the right factors.”

    Full text of the letter can be found HERE.

    The letter builds on Rep. Gallego’s work to ensure Maricopa County is not unfairly punished for pollution outside its control. Following his calls, last month the Administration announced the conditional approval of a new rule which will allow for new offsets to create clean air credits in Maricopa County.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Food and Consumer Affairs Minister, Shri Pralhad V Joshi conducts office inspection of Ministry of Consumer Affairs, Food and Public Distribution to mark Swachhata Hi Sewa Campaign 2024

    Source: Government of India (2)

    Posted On: 20 SEP 2024 7:59PM by PIB Delhi

    The Department of Consumer Affairs, Government of India, through its various subordinate offices, attached and autonomous offices observed day 4 of the Swachhata Hi Sewa Campaign 2024, themed “Swabhav Swachhata – Sanskaar Swachhata,” today.

    In order to ensure cleanliness, healthy working environment for effective operational efficiency within the Department, Union Minister of Consumer Affairs, Food and Public Distribution, Shri Pralhad V Joshi along with Secretary and other senior officers conducted an inspection of departmental offices. During this inspection, the Minister visited various offices, engaging with staff members and advised the officials to maintain good working environment

    Cleanliness Activities continued: Cleanliness drive was held in BIS, NRL, Mohali. The employees cleaned the roadside area near the office and 4 tonnes garbage was collected and disposed properly. NTH, Varanasi and NCCF, New Delhi cleaned its office equipment like Lights, Fans, and ACs along with other electrical items.

    Before and after images of cleanliness drive held at BIS, NRL, Mohali (20-09-2024)

     

     

     

     

    Employees and staff of NTH, Varanasi cleaning office space and equipment (20-09-2024)

     

     

     

     

    Cleanliness Activities at NCCF, New Delhi

     

    Swachhata Workshop : A swachhata workshop was held at NTH (HQ) today with 12 events to discuss the importance of swachhata in office spaces and surroundings.

    Swachhata Workshop at NTH headquarters.

    Hindi Slogan Writing competition: 25 employees of the NTH (NWR) Jaipur  participated in slogan writing competition on the theme-Cleanliness and Hygiene which was organized on dated 20.09.2024.

     

     

     

    Hindi Slogan Writing competition held at NTH (NWR) Jaipur

     

    Swachhata hi Seva Selfie Points in NTH, Mumbai: NTH, Mumbai installed a 6 Selfie Booth outside office premises and 4 selfie booths inside the office premises to increase Jan Bhaagidari in the campaign. Many employees took photographs and selfies at the booth holding placards of Swachhata hi Sewa.

     

    NTH , Mumbai employees at the SHS Selfie Booth

     

    *****

    AD/NS

    (Release ID: 2057180) Visitor Counter : 41

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Capito, Manchin, W.Va. Officials Announce Form Energy Selection for $150 Million to Build Out Battery Factory in Weirton

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    CHARLESTON, W.Va. – Today, U.S. Senators Shelley Moore Capito (R-W.Va.), Ranking Member of the Senate Environment and Public Works (EPW) Committee, and Joe Manchin (I-W.Va.), and a number of West Virginia officials announced that Form Energy has been selected for an award negotiation of up to $150 million from the U.S. Department of Energy’s (DOE) Battery Materials Processing and Battery Manufacturing and Recycling programs to support Form Factory 1 in Weirton, W.Va. The funding is part of the more than $6 billion included in the Infrastructure Investment and Jobs Act (IIJA) to support a strong domestic battery supply chain.
    “When I was crafting and negotiating the Infrastructure Investment and Jobs Act (IIJA), delivering support for manufacturing initiatives in West Virginia was an impact I knew we could make. Form Energy is providing a needed boost to the manufacturing industry in our state, specifically to the Weirton community. During my visit to the facility this summer, I saw how their embrace of new technological capabilities will help America continue to lead the way in energy innovation. This grant through the IIJA will expand Form Energy’s production and workforce, and will help continue West Virginia’s proud tradition of being an energy state,” Ranking Member Capito said. 
    “West Virginian workers and families have made the hard sacrifices to power our country to greatness and become a global energy leader. With today’s investment from the Bipartisan Infrastructure Law, we are continuing to ensure that we are producing the materials needed to protect our nation’s energy independence right here in the Mountain State,” Senator Manchin said. “I was proud to secure this funding and I am thrilled that Form Energy will be able to utilize it to create good-paying jobs in Weirton and help preserve our legacy as America’s Energy Powerhouse for decades to come.” 
    “We are incredibly grateful to the Department of Energy, Senator Manchin, Senator Moore Capito, and the many state and local leaders from West Virginia who provided pivotal support on the path to this award selection. This selection will enable us to more rapidly scale up our manufacturing capabilities and hire hundreds of skilled workers at Form Factory 1. We’re proud to help contribute to the growth of a clean, domestic, and independent energy economy in America. And we’re honored to do it alongside a strong local workforce, right here from West Virginia.” Mateo Jaramillo, Co-Founder and CEO of Form Energy, said . 
    “With its investment in Form Energy and Weirton, the U.S. Department of Energy is acknowledging that West Virginia is an ideal place to locate all-of-the-above energy development and manufacturing,” West Virginia Secretary of Economic Development Mitch Carmichael said. “Thanks to the encouragement and support of Senators Manchin and Capito, this backing will ensure even greater success in the Mountain State.”
    “With our robust history and past successes in heavy industry, the Northern Panhandle has paved the way for Form Energy and other innovative companies to be successful here in West Virginia,” Anthony Clements, Executive Director of the Business Development Corporation of the Northern Panhandle, said. “This funding from the U.S. Department of Energy shows the unanimous support from our state and our United States Senators Manchin and Capito for our region. I am thrilled we have the opportunity to see Form Energy grow right here in West Virginia.”
    “For years as a result of the decline and closure of its steel industry, the people of Weirton believed that its days as a manufacturing hub were over,” West Virginia State Senator Ryan Weld said. “Now, thanks to significant investments made by the State of West Virginia and the U.S. Department of Energy, along with the leadership of Senators Manchin and Capito, there is a renewed excitement for Weirton’s future and the products that will be made here.”   
    BACKGROUND:
    This announcement comes after Ranking Member Capito, Senator Manchin, and a group of their bipartisan colleagues sent a letter to DOE urging them to include alternative battery types, like the iron-air batteries manufactured by Form, in their grant awards. Once awarded, Form plans to use the funding to more rapidly scale up its commercial-scale manufacturing lines to produce up to 20 GWh/yr iron-air batteries and employ at least 600 employees to operate them.
    To learn more about the IIJA, click here.
    To learn more about DOE’s Battery Manufacturing and Recycling Grants, click here.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Urges Small Businesses to Strengthen Resilience During National Disaster Preparedness Month

    Source: United States Small Business Administration

    WASHINGTON – This month, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, is encouraging small businesses to take proactive steps to safeguard their operations from potential natural disasters. This year’s theme is “Prepare Now, Recover Faster.” 

    “As the frequency and intensity of natural disasters rise due to climate change, it is more critical than ever for Americans to be prepared,” said Administrator Guzman. “This Disaster Preparedness Month, we encourage all small businesses, homeowners, renters, and non-profits to take advantage of the SBA’s resources to create emergency response plans so that they can recover more quickly when disaster strikes, minimizing disruptions in communities and the economy.”

    With a wide range of resources and support services, the SBA is committed to helping businesses and communities across the country prepare for, respond to, and recover from unexpected events. Homeowners, renters, and businesses of all sizes are eligible for SBA assistance and can learn more here and by utilizing the Business Resilience Guide.

    “A natural disaster can occur anytime, anyplace, and climate change has only added to the problem,” said Francisco Sánchez Jr., Associate Administrator of SBA’s Office of Disaster Recovery and Resilience. “That’s why it is important to remember that proper planning and preparation can mitigate a disaster’s impact. ‘Prepare Now, Recover Faster’ highlights the benefits that preparedness offers – that putting in the work now can lead to a quicker recovery and a return to normalcy later.”

    In 2023, the SBA lent nearly $3 billion to disaster survivors nationwide – including over $670,000 for small businesses and over $2.3 million for homeowners and renters – to help them recover from the financial and physical impacts of manmade and natural disasters. Currently, the SBA is responding to 34 disaster declarations across the country.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI USA: Climate Pledge Arena to pay $477K in penalties, refunds as a result of AG Ferguson’s hidden fee investigation

    Source: Washington State News

    Court order ensures concertgoers who paid fee get money back with an additional $10

    SEATTLE — Climate Pledge Arena will pay $477,917 in penalties and refunds as a result of Attorney General Bob Ferguson’s investigation into a hidden fee the arena charged thousands of Washingtonians.

    From February 27, 2023, to July 22, 2023, Climate Pledge added a 3% fee to food and beverage purchases made at the arena. They did not disclose the fee in any way before customers made their purchase, in violation of Washington’s Consumer Protection Act. The Attorney General’s investigation revealed the company charged the fee on approximately 183,000 transactions over the course of 37 events, bringing in $162,917.16. The legally binding agreement is subject to court approval.

    As a condition for resolving his case, Ferguson required that Climate Pledge:

    • Conclude a class action lawsuit resulting in full restitution to all Washington consumers who were harmed, to be administered through a claims process, subject to court approval;
    • Pay affected customers who file a claim an additional $10 for their inconvenience and loss of their money in addition to the full refund;
    • Pay $315,000 to the Attorney General’s Office to pay for the cost of bringing the case, future enforcement work and, if necessary, cover claimants’ additional $10 payment if the $162,917.16 is insufficient; and
    • Disclose all fees it charges customers in the future.

    “Washington law is simple: If you charge a fee, you must clearly disclose that fee before someone pays it,” Ferguson said. “Climate Pledge was not doing that. Now they are paying the price. If you believe a company is charging hidden fees in Washington, contact my office.”

    Ferguson opened his investigation following a KIRO news story about the fee. State law requires companies to clearly disclose all added fees and charges to Washingtonians before they charge them. Instead, the fee was not disclosed at the arena kiosks or in digital payments. Attendees only learned about the fee if they asked for a receipt for their transaction.

    The arena stopped charging the fee following the KIRO story and the Attorney General’s Office confirmed the arena is not currently charging the fee. The court order ensures the arena does not charge any fees without appropriately informing people. If the arena does, the Attorney General’s Office can go to court for any violations.

    Assistant Attorney General Dan Davies handled the case for Washington.

    Honest Fees Initiative

    Companies caught charging hidden fees have paid more than $9.6 million as a result of Ferguson’s Honest Fees Initiative.

    Ferguson is calling on Washingtonians to check their bills, and, if they believe they contain hidden fees, to file a complaint at the Attorney General’s website here.

    Follow these easy steps to check your bill:

    1. Review your bill carefully for additional fees and taxes. Pay special attention to fees that appear to be government-imposed. Though they may appear to be, that may not be the case.
    2. Compare your bill against the advertised purchase price. Is it different? Were fees added on without being disclosed to you when you signed up?
    3. If you see a fee that was not included in the initial purchase price, or that you believe is deceptive, contact the Washington Attorney General’s Office at www.atg.wa.gov/file-complaint.

    Ferguson took the first major action as part of the initiative in December 2019, when global technology company CenturyLink paid $6.1 million to the State of Washington for adding charges to customer bills without accurately disclosing those fees, and failing to provide discounts that their sales agents had promised customers. In July 2020, Frontier Communications Northwest paid $900,000 to Washington to resolve an Attorney General’s Office investigation that found Frontier did not adequately disclose fees when advertising and selling its products, and misled subscribers about internet speeds it could provide. Later in July 2020, Charter Communications paid nearly $1 million for failing to disclose its “Broadcast TV Surcharge” to customers who ordered the company’s services online. In March 2021, Bothell-based TV and broadband internet provider Wave paid $900,000 to more than 23,000 customers who ordered the company’s services online and more than $300,000 to the Attorney General’s Office.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

    Media Contact:

    Brionna Aho, Communications Director, (360) 753-2727; Brionna.aho@atg.wa.gov

    General contacts: Click here

    Media Resource Guide & Attorney General’s Office FAQ

    MIL OSI USA News –

  • MIL-OSI USA: Governor DeSantis Appoints Four to the Clay County Development Authority

    Source: US State of Florida

    TALLAHASSEE, Fla.—Today, Governor Ron DeSantis announced the appointment of Dennis “Rick” Dingle and Dell Hoard Sr. and the reappointment of Tina Clary and Tammy “Chereese” Stewart to the Clay County Development Authority.

    Dennis “Rick” Dingle
    Dingle is the Chief Administrative Officer for the Clay County Clerk of the Court and Comptroller’s Office. Active in his community, he currently serves as a member of the Florida Government Finance Officers Association. Dingle earned his bachelor’s degree in business administration from Flagler College and his master’s degree in business administration from the University of North Florida.

    Dell Hoard Sr.
    Hoard is the Owner of Grumpy’s Restaurant. Previously, he served as a Transportation Coordinator for Walmart Transportation Center. A lifelong resident of Clay County, Hoard attended St. Johns River State College.

    Tina Clary
    Clary is the Principal and Chief Executive Officer for Clary & Associates. Previously, she served as a member of the Florida Surveying and Mapping Society, the American Society of Highway Engineering, and the Clay County Chamber of Commerce. Clary earned her associate degree from Florida State College at Jacksonville.

    Tammy “Chereese” Stewart
    Stewart is the Assistant County Manager for the Clay County Board of County Commissioners. She was previously elected as a Clay County Commissioner and currently serves as a member of the Clay County Cattlemen Association, the Clay County Farm Bureau, and the Florida Planning and Zoning Association. Stewart earned her bachelor’s degree from Texas A&M University and her master’s degree in educational leadership and administration from the University of North Florida.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Joined by Education and Business Leaders from Both Parties, Governor Cooper Vetoes HB10

    Source: US State of North Carolina

    Headline: Joined by Education and Business Leaders from Both Parties, Governor Cooper Vetoes HB10

    Joined by Education and Business Leaders from Both Parties, Governor Cooper Vetoes HB10
    mseets

    Today, Governor Roy Cooper vetoed HB10, the Republican scheme to take taxpayer money out of public schools and redirect it to private schools. The Governor was joined by education and business leaders from both sides of the aisle to highlight the disastrous impact this would have on public schools, particularly those in rural areas.

    Governor Cooper issued the following statement on his veto of House Bill 10 Require ICE Cooperation & Budget Adjustments:

    “This bill takes public taxpayer dollars from the public schools and gives it to private school vouchers that will be used by wealthy families. Studies show that private school vouchers do not improve student performance, but we won’t know with North Carolina’s voucher scheme because it has the least accountability in the country. All public schools will be hurt by the legislature wasting its planned $4 billion of the public’s money over the next decade with rural public schools being hurt the worst. This money should be used to improve our public schools by raising teacher pay and investing in public school students. Therefore, I veto the bill.”

    During the press conference, Governor Cooper emphasized the need for investments in public education. Instead of funneling hundreds of millions more in taxpayer dollars toward vouchers for unaccountable private schools that would overwhelmingly benefit the wealthiest demographic in the state, the legislature should invest in public education so our state’s public schools, educators and students have the resources they need to thrive.

    “Private school vouchers are the biggest threat to public schools in decades because they don’t improve student performance and they drain taxpayer money from badly needed investments like better teacher pay,” said Governor Cooper. “North Carolina public schools continue to thrive and improve despite chronic underfunding by the legislature. We must stop the expansion of private school vouchers and prioritize investing in our public schools.”

    “I am an educator first and a Republican second,” said Burke County Board of Education Member Wendi Craven. “Education is the cornerstone of our nation and once it fails this country fails. Instead of continuing to divide and conquer, which shows a complete lack of leadership, legislators should support public education.”

    “This bill encourages families to send their children to private schools in other counties, draining our public schools and dividing our community,” said Chairman of the Washington County Board of Education Carlos Riddick. “Our students deserve strong, well-funded schools right here at home, not a system that incentivizes them to leave. House Bill 10 doesn’t just redirect taxpayer money—it weakens the backbone of our county by undermining public education.”

    “As an educator and parent, I want my child and every child to have the education they deserve and that requires funding,” said Pitt County Schools Teacher Elyse Cannon-McRae. “Legislators, I am holding you accountable. You have to do right and support public education.”

    “As a former elected Republican who understands the financial challenges of rural governments in North Carolina, I am extremely concerned about the revenue displacement that would take place under HB10,” said Business Leader and Former Transylvania County Commissioner Mike Hawkins. “Rural Republican representatives know that this is a threat to our school systems and to the very fabric of life for rural North Carolina.”

    Expanding private school vouchers would disproportionately impact rural North Carolina counties, where access to private education is limited and public schools serve as the backbone of communities. More than one-quarter (28) of North Carolina’s counties – all rural counties – have no or just one private school participating in the voucher program. By diverting public funds to wealthier urban areas, private school vouchers are deepening the resource gap and undermining the educational opportunities for rural students.

    Private schools that receive vouchers are not regulated and are not accountable to taxpayers despite receiving taxpayer money. Vouchers cover tuition for schools that don’t have to report how students are performing, don’t have to serve all students regardless of race, gender, socioeconomic status or religious beliefs or don’t have to hire licensed teachers.

    Public schools that serve more than 84% of students are continuously asked to do more with less. North Carolina ranks near the bottom of all states in K-12 funding, spending nearly $5,000 less per student than the national average. Our state is falling behind nationally in teacher pay, dropping in the most recent rankings to 38th.

    Based on an updated analysis by the Office of State Budget and Management, if the General Assembly fully expands the taxpayer-funded private school voucher program, private schools could siphon nearly $100 million in state funding from public schools just in the first full year of the program. In addition, the expansion of the voucher program will cost the state $277 million in new spending just in the first year.

    Governor Cooper declared 2024 as the Year of Public Schools and has been visiting public schools and early childhood education programs across the state calling for investments in K-12 education, early childhood education and teacher pay.

    Read more about the truth of North Carolina’s voucher program here.

    ###

    Sep 20, 2024

    MIL OSI USA News –

  • MIL-OSI USA: Federal Funding Secured for Baylor University

    Source: United States House of Representatives – Congressman Pete Sessions (32nd District of Texas)

    WACO- Congressman Pete Sessions (TX-17) announced that the Arctic Acclimatization & Sleep Optimization (ARKTOS) Research Center at Baylor University received federal funding under the Commerce, Justice, Science, and Related Agencies Appropriations Act, 2024. Congressman Sessions was the sponsor of this Congressional Community Project. These funds will support the development of rapid acclimatization protocols and technologies, human-machine teaming, and group dynamics in multi-stressor arctic environments. The purpose of the project is to solidify the dominance of the United States military in complex, multi-stressor environments such as arctic climates. 

    Congressman Sessions said, “As the lead sponsor in the House of Representatives, I am proud to have played a pivotal role in achieving funding to improve the scientific endeavors of Baylor University. These funds will allow Baylor’s excellent researchers to optimize the performance of our military through rapid acclimatization.”

    “We appreciate Congressman Sessions and his staff for their hard work supporting the impactful research being conducted at Baylor University as a Research 1 institution,” said Provost Nancy Brickhouse, Ph.D. “Leading-edge research tied to rapid adaptation to extreme environments is greatly needed and critical for our state and country to remain ahead.”

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Commerce and Industry Minister Shri Piyush Goyal co-chairs 21st ASEAN-India Economic Ministers meeting in Lao PDR

    Source: Government of India (2)

    Posted On: 20 SEP 2024 9:25PM by PIB Delhi

    Shri Piyush Goyal, Commerce and Industry Minister during the 1st day of his visit to Vientiane, Lao PDR co-chaired the 21st ASEAN-India Economic Ministers (AEM-India) meeting alongwith H.E. Malaithong Kommasith, Minister of Industry and Commerce of Lao PDR. The Economic Ministers or their representatives from all the 10 ASEAN countries viz. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam participated in the meeting. Democratic Republic of Timor-Leste joined the Meeting as an observer.

    The Ministers reviewed the trade and investment relations between India and ASEAN and reaffirmed their commitment to further strengthen the relations. India and ASEAN registered a bilateral trade of USD 120.9 billion in 2023-24 with ASEAN accounting for 10.9% of India’s global trade.

    The Ministers in particular took note of the progress in negotiations for the review of ASEAN-India Trade in Goods Agreement (AITIGA). Minister Goyal in his intervention stressed on the need for addressing injury to industries from the existing FTA and the inequitable tariff liberalisation during the review. He also cited India’s ongoing efforts of integrating with other economies through FTAs and highlighted the urgency in upgrading AITIGA which otherwise may lead to diversion of bilateral trade to other regions.

    The Ministers reiterated the commitment to ensure that the outcome of the review should be mutually beneficial and commercially meaningful and will make the AITIGA more effective, user-friendly, simple, and trade facilitative for businesses. The Ministers encouraged the AITIGA Joint Committee to expedite the negotiations to conclude the review in 2025. 

    The review of the AITIGA is a long-standing demand of Indian industry and India is looking forward to an upgraded AITIGA which will address the current asymmetries in bilateral trade and will make trade more balanced and sustainable.

    Minister Goyal reiterated India’s request for setting up of Joint Committees under the two separate Agreements on Services and Investment, signed in 2014, to review the implementation of these Agreements.

    On the sidelines of AEM-India meeting, Minister Goyal had a productive bilateral meeting with Mrs. Helene Budliger Artieda, Secretary for Economic Affairs, Switzerland. Both sides discussed the progress in ratification of India-EFTA Trade and Economic Partnership Agreement signed on 10th March 2024 and discussed the way forward in facilitating US$100 billion FDI commitment by the EFTA States under the FTA.

    Minister Goyal also interacted with the FICCI led industry delegation from India which was visiting Vientiane, Laos to brief the ASEAN-India Economic Ministers on the activities of ASEAN-India Business Council (AIBC). FICCI serves as the AIBC Secretariat from the Indian side. The delegation from AIBC ASEAN also met Minister Goyal separately. Industry from both sides briefed the Minister on their perspective of bilateral trade and their expectations from review of AITIGA.

     

     ***

    AD/VN

    (Release ID: 2057216) Visitor Counter : 25

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Ministry of Skill Development and Entrepreneurship plants 11,778 trees in a day under ‘Ek Ped Maa Ke Naam” initiative under Swachhata Hi Seva Campaign

    Source: Government of India

    Ministry of Skill Development and Entrepreneurship plants 11,778 trees in a day under ‘Ek Ped Maa Ke Naam” initiative under Swachhata Hi Seva Campaign

    Shri Jayant Chaudhary, MoS (I/C), Ministry of Skill Development and Entrepreneurship participates in the “Ek Ped Maa Ke Naam” initiative; plants a tree in Jan Shikshan Sansthan in Ranchi

    Posted On: 20 SEP 2024 6:51PM by PIB Delhi

    The Ministry of Skill Development and Entrepreneurship (MSDE) has taken a heartfelt step toward honoring mothers and nurturing the environment with the “Ek Ped Maa Ke Naam” initiative, inspired by the vision of Hon’ble Prime Minister Shri Narendra Modi and aligned to the ongoing Swachhta Hi Seva campaign of the government. This noble initiative emphasizes the importance of environmental conservation, encouraging citizens to plant a tree in the name of their mothers to symbolize care, growth, and respect.

    On June 5, 2024on the occasion of World Environment Day, Hon’ble Prime Minister Narendra Modi launched the ‘Ek Ped Maa Ke Naam’ campaign and planted a Peepal tree at Buddha Jayanti Park in the national capital, marking the beginning of a nationwide movement for environmental conservation.

    During his recent visit to the Jan Shikshan Sansthan (JSS) in Ranchi, Shri Jayant Chaudhary, Hon’ble Minister of Skill Development and Entrepreneurship,and Minister of State, Ministry of Education, Government of India,planted a sapling to mark the ministry’s commitment to this cause. The event was a moving tribute, symbolizing the nurturing role of mothers in shaping lives and society, while highlighting the importance of preserving the environment for future generations.

    Simultaneously, Shri Atul Kumar Tiwari, Secretary, MSDE, led the plantation drive at Kaushal Bhawan in New Delhi. In line with the Prime Minister’s clarion call for environmental stewardship, both events served as catalysts for action across the nation, with MSDE actively mobilizing its institutions to participate in this green mission.

    Pan-India Engagement Across Skill Development Institutions

    The “Ek Ped Maa Ke Naam” campaign saw enthusiastic participation from various MSDE institutions across India. In total, 11,778 trees were planted across MSDE divisions, including:

    Pradhan Mantri Kaushal Kendras (PMKKs): Special plantation drives were organized across multiple PMKKs, with participants planting saplings and pledging to care for them as part of their commitment to sustainable living.

    National Institutes for Entrepreneurship and Small Business Development (NIESBUD) and Indian Institute of Entrepreneurship (IIE): Both institutions organized workshops to educate students and the local community on the importance of tree plantation and environmental conservation.

    Industrial Training Institutes (ITIs) and National Skill Training Institutes (NSTIs): These institutes actively engaged students and trainers in tree-planting activities, while also incorporating the importance of sustainable practices into their curricula.

    These events reflect MSDE’s dedication to not only building a skilled workforce but also promoting responsible citizenship. The widespread participation of students, trainers, and staff from across the nation has amplified the message of sustainability, making “Ek Ped Maa Ke Naam” a symbol of collective responsibility towards environmental protection.

    A Tribute to Mothers and Mother Nature

    The “Ek Ped Maa Ke Naam” initiative is a humble yet profound gesture that embodies the deep respect for mothers while addressing the critical need for environmental conservation. Under the guidance of the Hon’ble Prime Minister, this initiative seeks to inspire citizens across the country to take small yet significant steps in fostering a greener and healthier India.

    MSDE is proud to align its institutions and programs with this visionary initiative, ensuring that skill development goes hand-in-hand with sustainability, community building, and national pride.

    The Swachhata Hi Seva Campaign with the theme: “Swachhta Swabhav, Swachhta Sanskar” is a significant step towards realizing the Hon’ble Prime Minister Narendra Modi’s vision of a Swachh Bharat, with a comprehensive nationwide series of cleanliness drives, awareness activities, and public engagements.

    ******

    SB/DP

    (Release ID: 2057137) Visitor Counter : 23

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Empowering exporters and streamlining processes main focus of Department of Commerce in first 100 days of government

    Source: Government of India (2)

    Posted On: 20 SEP 2024 4:54PM by PIB Delhi

    The Department of Commerce (DoC) has focused on empowering exporters, streamlining processes, and promoting economic growth through innovative solutions during the first 100 days of this Government. These achievements underscore the. Below are some of the key highlights:

    1. Empowering Exporters through Trade Connect e-Platform
    The launch of a comprehensive Trade Connect e-Platform has connected over 6 lakh IEC holders, 185 Indian Mission officials, and over 600 Export Promotion Council members with Directorate General of Foreign Trade (DGFT)/DoC offices and banks. This digital initiative enhances the ease of doing business for small and medium enterprises (SMEs) by providing them with information and guidance, fostering a more seamless and transparent export ecosystem.

    2. Enhanced Insurance Cover for MSME Exporters
    To boost exports, the government has introduced enhanced insurance cover for MSME exporters, which is expected to provide credit worth ₹20,000 crore at lower costs. This initiative will make Indian exports more competitive, benefitting around 10,000 exporters.

    3. Reducing Compliance Burden through Self-Certified Electronic Bank Realisation Certificate (eBRC) system
    The introduction of a self-certified electronic Bank Realisation Certificate system has significantly reduced compliance costs for exporters. Previously costing between ₹500-₹1,500 per eBRC, this system now saves exporters over ₹125 crore and simplifies the process for claiming benefits and refunds. This paperless system also aligns with the government’s broader goals of promoting a digital, eco-friendly economy, cutting down  both administrative and environmental expenses.

    The bulk generation and Application Programming Interface (API) integration of eBRCs significantly reduce time and effort, streamlining the process for exporters and stakeholders. This system is particularly beneficial for small exporters, especially in e-commerce, as it efficiently handles high-volume, low-cost transactions. As a result, it enables them to claim benefits and refunds more effectively, supporting their growth and participation in international trade.

    4. Connecting SME Exporters to the World through E-Commerce Export Hub (ECEH)
    The launch of the E-Commerce Export Hub (ECEH) is poised to revolutionize India’s cross-border e-commerce ecosystem, with projections indicating a potential export value of USD 100 billion by 2030. ECEHs will provide artisans, SMEs, and One District One Product (ODOP) producers easy access to global markets, reduce costs and simplify logistics.

    These hubs will boost employment opportunities in transport, warehousing, and quality assurance. Linking Tier 2 and Tier 3 cities, as well as rural areas, with the global marketplace ECEH will play a significant role in driving the digital transformation of these regions. This connection will enable smaller cities to access broader opportunities in international trade, fostering economic growth and inclusion.

    5. Reducing Transaction Costs for MSMEs on GeM Portal

    To promote greater MSME participation in the Government e-Marketplace (GeM), the number of pricing slabs has been reduced, making it easier for vendors to understand and comply with. New cap on charges ensures greater affordability for high-value transactions as Orders above ₹10 Crore will now pay a flat fee of ₹3 Lakh, a massive reduction from the transaction charges previously capped at ₹72.5 lakh.

     

    6. Bharat Mart in Dubai

    In a groundbreaking initiative, the Department of Commerce has facilitated the establishment of Bharat Mart in Dubai. This hub will provide Indian MSMEs cost-efficient access to the Gulf Cooperation Council (GCC), African, and CIS markets, thereby boosting India’s exports to these regions.

    7. Eliminating Human Interface through Jansunwai

    The government has further enhanced ease of doing business by launching Jansunwai, a platform that facilitates smooth communication eliminating intermediaries and providing direct communication between stakeholders and the Department. This fosters transparency and saves businesses time and effort, reducing the need for physical office visits.

    8. Strengthening the Organic Regulatory Ecosystem

    A revamped National Programme of Organic Production (NPOP) is set to benefit approximately 20 lakh farmers from 5,000 grower groups through enhanced export opportunities. With a focus on improving certification standards, organic exports are expected to surpass USD 1 billion by 2025-26.

    9. Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY)

    Under this initiative, more than 10 lakh workers across 1,210 tea gardens in Assam and West Bengal will have access to better healthcare, education, and resting shed facilities. This marks a major step toward improving the quality of life for tea garden workers and their families.

    10. Rollout of ICEGATE Across All Non-IT/ITES SEZs

    The ICEGATE portal has been expanded to cover all non-IT/ITES SEZ units, enabling them to apply for benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. This move enhances ease of doing business, offering 24×7 helpdesk support to SEZ units and ensuring more seamless trading operations.

    These transformative initiatives reaffirm the government’s commitment to expanding India’s global trade footprint while ensuring the development and welfare of its people. With the continued efforts of the Department of Commerce, India is well on its way to becoming a global economic powerhouse by 2047.

     ***

    AD/VN

    (Release ID: 2057038) Visitor Counter : 69

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Assistant Leader Neguse Introduces Package of Bipartisan Bills to Simplify Disaster Recovery

    Source: United States House of Representatives – Congressman Joe Neguse (D-Co 2)

    Lafayette, CO — Today, House Assistant Minority Leader Joe Neguse, founder and Co-Chair of the Bipartisan Wildfire Caucus, is taking action to streamline access to federal assistance under the Small Business Administration for families and communities impacted by natural disasters. The Assistant Leader introduced a bipartisan legislative package, including the Natural Disaster Loan Interest Relief Act, the Small Business Disaster Damage Fairness Act, and the Disaster Loan Application Flexibility Act. These policies seek to update management of and access to disaster-related loans issued by the Small Business Administration (SBA) by waiving accrued fees, increasing unsecured loan threshold limits, and by simplifying loan application processes. 

    Since first being elected to Congress in 2018, western wildfires have impacted thousands of households in Assistant Leader Neguse’s congressional district. After speaking directly with those affected, Neguse sought to create legislation that limits confusion and helps make it easier for families to access the critical resources needed to jumpstart their path to recovery. 

    “In recent years, the Marshall, Cameron Peak, East Troublesome, and most recently the Alexander Mountain and Stone Canyon Fires have disrupted the lives of countless families across Colorado,” said House Assistant Minority Leader Joe Neguse. “And the road to recovery after disaster can be slow and at times, all-consuming. That is why I am introducing three bills that ensure those affected receive the recovery assistance they need at the speed they need. Mitigation and response and recovery go hand in hand, and today we are seeking to equip homeowners, small business owners, and individuals with the foundational tools required to rebuild their lives after disaster.”  

    The package of bills includes: 

    • The Natural Disaster Loan Interest Relief Act, co-led by Rep. Juan Ciscomani (R-AZ). This bill codifies a policy implemented by the SBA to provide zero interest on disaster loans and to give homeowners and business owners approved for these loans up to one year from the date of the loan to begin making payments. Read bill text here. 
    • The Small Business Disaster Damage Fairness Act, co-led by Rep. Jay Obernolte (R-CA). This bill directs the SBA to not require collateral for loans of $50,000 or less, an increase from what is currently $14,000, allowing a greater number of individuals to access a physical disaster home or business loan. Read bill text here.
    • The Disaster Loan Application Flexibility Act, co-led by Rep. Mike Simpson (R-ID). This bill modifies application deadlines and communication requirements for disaster assistance by directing the SBA to extend loan application deadlines past the current window of two to three months post-disaster declaration, and issuing guidance for public awareness campaigns in affected areas to better educate individuals on the application process and ensuring the Members of Congress who represent these districts stay informed and receive regular updates. Read bill text here. 

    Find a one-pager on the disaster recovery legislative package here. 

    “I applaud Congressman Neguse and his partners for their bipartisan support and dedication to reforming the Small Business Administration disaster assistance loan programs, and helping to ensure disaster survivors face minimal obstacles during their recovery and rebuilding journey. Homeowners impacted by disasters deserve flexibility and grace as they piece their lives back together. These bills are the necessary steps we need to prioritze the survivor over the onerous processes which impede disaster recovery,” said Jeri Curry, Executive Director, Marshall ROC.  

    Background

    Assistant Leader Neguse has been leading efforts in Congress to expand access to critical federal disaster assistance for communities impacted by natural disaster. Most recently, he introduced the bipartisan, bicameral Disaster Management Costs Modernization Act, which would allow state and local governments to use FEMA disaster management costs for multiple disasters. He also  led Western lawmakers in a letter to the U.S. Small Business Administration (SBA) requesting the agency extend the time periods during which affected individuals may apply for SBA physical damage loans following a presidential disaster declaration.   

    Following the Marshall Fire in 2021, Neguse sought to secure proper cost coverage for Coloradans. Alongside Senators Bennet and Hickenlooper, Rep. Neguse led a successful effort to get the SBA to update their formula used to calculate the Disaster Loan Program amount survivors can borrow to rebuild after the Marshall Fire. Rep. Neguse and the Colorado senators were also able to get FEMA to agree to cover the costs of removing foundations, basements and burned vehicles damaged in the Marshall Fire. This coverage is extremely rare and has only been granted for a handful of other wildfires in recent years. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Lee Wins U.S. Chamber of Commerce Advocate for American Business Award

    Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)

    Award given to members of Congress with strong records of working across the aisle for American businesses

     

    WASHINGTON – Yesterday, Congresswoman Susie Lee (NV-03) was awarded the U.S. Chamber of Commerce’s Advocate for American Business Award during this week’s annual Vegas Chamber in D.C. Week. The award recognizes Congresswoman Lee’s strong track record of working across the aisle to support southern Nevada businesses and create good paying jobs. 

    “One of my most important jobs in Congress is to support our business community back home so we can create more jobs, strengthen our workforce, and diversify our economy. It is an honor to be recognized by the U.S. Chamber for that work,” said Congresswoman Susie Lee. “From cutting government red tape to bringing back federal dollars for our community, I’m committed to supporting our local and state economies. I will continue working with Republicans and Democrats to build on our critical public-private partnerships.” 

    “The U.S. Chamber appreciates Congresswoman Susie Lee’s focus on economic growth and bipartisanship,” said Jennings Imel, Vice President of the U.S. Chamber’s Western Regional Office. “We are proud to present her with our Advocate for American Business Award in recognition of her leadership, support for job creators, and bipartisan approach to tackling critical issues facing businesses and families in Southern Nevada.”

    The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Read more about the US Chamber of Commerce online here. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Lee Announces $4 Million to Nevada Small Businesses in Key Economic Growth Sectors

    Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)

    Supports Rural and Tribal Businesses, Healthcare Businesses, and Advanced Clean Energy Manufacturers

    WASHINGTON – Today, Congresswoman Susie Lee (NV-03) announced more than $4 million in federal investments to help small businesses in key sectors of the economy grow and hire new workers. The investment is being awarded to the Nevada Governor’s Office of Economic Development through the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). 

    SBOP provides funding to connect underserved and small businesses to the financing needed to participate in key supply chains, including electric vehicle manufacturing, semiconductor manufacturing, construction, transportation, clean energy generation, and more. It was designed to catalyze additional private sector investment by supporting small business technical assistance services. 

    “Small businesses and their workers are the lifeblood of our economy and our communities,” said Congresswoman Susie Lee. “I will always fight to bring back the federal dollars southern Nevada small businesses need to grow so we can create more local, good-paying jobs right here at home.” 

    This week, Congresswoman Lee was awarded the U.S. Chamber of Commerce’s Advocate for American Business Award for her strong bipartisan record of supporting businesses of all sizes. To date, she has helped secure nearly $4 billion in federal investments for hardworking Nevadans. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Scott Perry Earns NFIB “Guardian of Small Business Award”

    Source: United States House of Representatives – Congressman Scott Perry (PA-10)

    Washington, D.C. – On Wednesday, Congressman Scott Perry accepted the prestigious Guardian of Small Business Award from the National Federation of Independent Business (NFIB), a leading small business advocacy organization.

    “This Congress, small businesses faced tough economic headwinds, especially from inflation, burdensome regulations, and threats of tax hikes at all levels of the government,” said NFIB President Brad Close. “We are proud to recognize the lawmakers from the 118th Congress, including Congressman Scott Perry, who stood up for Main Street by taking pro-small business votes that would reduce taxes, eliminate burdensome government mandates, lower health insurance costs, and fuel the Main Street economy.”

    The NFIB Guardian of Small Business Award is presented to Members of Congress with a demonstrated record of supporting America’s small and independent business owners.

    “I’m proud to earn the NFIB Guardian of Small Business Award. Small businesses are the foundation of the American economy,” said Congressman Scott Perry. “As a former small business owner myself, I will continue the fight to protect Main Street businesses by cutting taxes, spending responsibly, and slashing unnecessary and burdensome red tape that is killing our small businesses and wrecking the backbone of our Nation.”

    NFIB’s Guardian of Small Business Award is reserved for lawmakers who vote consistently with small businesses on key issues identified by small business owners. As the voice of small business, NFIB is the only business organization whose policy positions are established by NFIB members directly.

    MIL OSI USA News –

  • MIL-OSI USA: Houlahan Questions Biden Administration on Israeli bombings in Gaza humanitarian zone

    Source: United States House of Representatives – Representative Chrissy Houlahan (D-PA)

    WASHINGTON, D.C. – Today, Representative Chrissy Houlahan (D-PA) sent a letter to President Joe Biden asking for more information on the IDF’s use of 2,000-pound bombs in a densely populated humanitarian zone southwest of Khan Younis on September 10. Houlahan asked President Biden if the bombs were U.S.-made and, if so, if they were sent prior to the U.S. embargo on these weapons in May. She also asked for details on the Biden Administration’s efforts to encourage Israeli Prime Minister Netanyahu to stop using these weapons, especially in densely populated civilian areas, and urged him to have these critical conversations.  

    “I have dedicated my life to national security and service and believe our nation’s values are a source of credibility and power. I know from personal experience that you cannot destroy a terror ideology with military force,” Houlahan said in the letter. 

    This comes after Houlahan sent a letter in December 2023 to the Biden Administration with a group of her colleagues expressing their concern about Israel’s military strategy, and today, she shared her concern over little progress on that issue. 

    In today’s letter, Houlahan said, “As this war has continued, I have seen no appreciable changes in Israel’s strategy and in fact, the civilian death toll and humanitarian crisis in Gaza has continued.”  

    Read Houlahan’s letter here or below.  

    Dear President Biden, 

    Thank you for your leadership and continued efforts both to support our ally Israel, and to bring an end to the war in Gaza. As a member of the Intelligence and Armed Services Committees, and a former member of the Foreign Affairs Committee, I appreciate your commitment to finding a solution that will ensure a lasting peace and a durable two-state solution. I continue to be deeply concerned, however, by Prime Minister Netanyahu’s ongoing military strategy, including the IDF’s use of 2,000-pound bombs in a densely populated humanitarian zone southwest of Khan Younis on September 10, 2024. 

    Last December, I sent you a letter alongside a group of my colleagues expressing our concern about Israel’s military strategy in this conflict, noting then that we believed it jeopardized efforts to destroy the terrorist organization Hamas and secure the release of all hostages. As this war has continued, I have seen no appreciable changes in Israel’s strategy and in fact, the civilian death toll and humanitarian crisis in Gaza has continued. This recent bombing on September 10 is particularly alarming because your Administration paused the shipment of 2,000- and 500-pound bombs to Israel in May 2024 due to concerns about usage in densely populated civilian areas. Though I am thankful that your Administration has continued to withhold 2,000-pound bombs, I 

    have concerns about the origins of the weapons used on the al-Mawasi humanitarian zone. 

    I ask if your Administration is aware of if the 2,000 bombs used on September 10 were U.S.-made, and if so, is it your belief that these weapons were sent prior to the embargo in May? More specifically, do you know when exactly these weapons were sent? Given the continued pause on 2,000-pound bombs, has your Administration expressed your concern about the use of these weapons, especially on densely populated civilian areas, to Prime Minister Netanyahu? I encourage you to have those conversations if you haven’t already and support continued embargoes of heavy bombs. 

    Over the last 11 months, civilians across Gaza have been told by the Israeli government and the IDF to evacuate to al-Mawasi for safety. Hundreds of thousands occupy the 16-square mile area. I understand the difficult nature of this conflict, as Hamas is not using strategies that protect the lives of the Palestinian people. However, the use of heavy bombs on one of the only remaining humanitarian zones in Gaza with a high concentration of civilians is not in line with U.S. values and does not advance the cause of security for Israel or protect innocent civilians from catastrophic harm. 

    To restate from the December letter, I have dedicated my life to national security and service and believe our nation’s values are a source of credibility and power. I know from personal experience that you cannot destroy a terror ideology with military force. 

    As we reach the solemn anniversary of the horrific tragedy that took place on October 7, 2023, with more than 100 people (including Americans) still held captive by Hamas, it is past time that this war comes to an end. Hamas’ recent change in strategy calling for hostages to be executed if the IDF gets close, as we saw with the death of six hostages including American Hersh Goldberg-Polin, underscores this immediate need. 

    I appreciate your steadfast efforts to secure a hostage and ceasefire deal, and your leadership in bringing both Israel and Hamas to the negotiating table. I urge you to continue doing all that you can to pressure Prime Minister Netanyahu and the leaders of Hamas to reach a deal that ensures the return of all remaining hostages and works towards a peaceful, two-state solution which allows Palestinians to be free from the terrorist organization Hamas and where Israelis can live without fear of another October 7. As a Member of Congress, I remain committed to supporting your Administration in those efforts. 

    Sincerely, 

    Chrissy Houlahan 

    Houlahan is an Air Force veteran, an engineer, a serial entrepreneur, an educator, and a nonprofit leader. She represents Pennsylvania’s 6th Congressional District, which encompasses Chester County and southern Berks County. She serves on the House Armed Services Committee and the House Permanent Select Committee on Intelligence. She is the recipient of the U.S. Chamber of Commerce’s Abraham Lincoln Leadership for America Award which “recognizes members who demonstrate the bipartisan leadership and constructive governing necessary to move our country forward” and the Congressional Management Foundation’s 2022 Democracy Award for best Constituent Services in Congress. 

    MIL OSI USA News –

  • MIL-OSI USA: City of Chehalis Gets Nearly $1M Grant to Plan Hydrogen Fueling Facility at Airport

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    09.20.24
    City of Chehalis Gets Nearly $1M Grant to Plan Hydrogen Fueling Facility at Airport
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), chair of the Senate Committee on Commerce, Science, and Transportation, announced that the City of Chehalis will receive a $994,653 federal grant to help plan a proposed hydrogen fueling facility as part of the Chehalis Hub for Aviation Innovation and Sustainable Energy (CHAISE) at Chehalis-Centralia Airport.
    The grant will fund a feasibility study, design services, and public engagement for the proposed multimodal hydrogen fueling facility. The development may include a fueling station, on-site storage, or hydrogen generation. The Chehalis-Centralia Airport is an ideal location for a hydrogen fueling center, since it’s halfway between Seattle and Portland and close to I-5. Chehalis is also seeking funding from the SMART grant program and the Charging and Fueling Infrastructure Grant program.
    Hydrogen is a clean fuel that, when consumed in a fuel cell, produces no dirty emissions — only water. Hydrogen can be produced from existing power resources, such as solar and hydropower.
    The grant was awarded through the Department of Transportation’s Innovative Finance Asset Concession Grant Program, administered by the Build America Bureau, and is a new program authorized by the Bipartisan Infrastructure Law (BIL). The program provides $100 million over five years to help public entities scan existing assets to unlock value from them and explore innovative financing and delivery opportunities through, e.g., the Build America Bureau’s Transportation Infrastructure Finance and Innovation Act?(TIFIA) low-cost loan program. The program awards two types of grants: technical assistance grants and expert services grants. According to USDOT,  the technical assistance grants will use the funding to enhance their organizational capacity and advance a portfolio of assets by conducting pre-construction tasks, such as asset scans, market studies, delivery option analyses, financial modeling, and other activities considering innovative finance and delivery, including asset concessions. The expert services grants will use the funding to hire advisors to analyze a specific existing asset for innovative financing and delivery opportunities, including public-private partnerships.
    Sen. Cantwell has helped position the Pacific Northwest to be a leader in hydrogen production. In July 2023, she announced that the Pacific Northwest Hydrogen Association (PNWH2) will receive $27.5 million from the U.S. Department of Energy (DOE) to kickstart the first phase of a $1 billion federal investment to develop hydrogen as a green energy source in the region. She called the July announcement “a huge milestone in our region’s efforts to create a hydrogen ecosystem that can help provide clean and affordable alternative fuels for our heavy-duty transportation and manufacturing facilities.”
    Sen. Cantwell worked to include the H2Hubs program and other key hydrogen investments in the Bipartisan Infrastructure Law during consideration in the Energy and Natural Resources Committee, where she served as a senior member, in July 2021, and pushed for its successful passage through the Senate.
    Together with the clean hydrogen incentives included in the Inflation Reduction Act (IRA), these investments represent a historic investment that will help spur hydrogen to be an important piece of the decarbonizing puzzle needed to reach our climate goals.

    MIL OSI USA News –

  • MIL-OSI: Longevity Biomedical, Inc. and FutureTech II Acquisition Corp. Announce Business Combination to Create Nasdaq-Listed Biopharmaceutical Company Focused on Advancing New Technologies to Promote Human Health and Longevity

    Source: GlobeNewswire (MIL-OSI)

      – Longevity Biomedical, Inc. is focused on developing and acquiring new technologies spanning therapeutics, health monitoring and digital health solutions to become a leading provider of longevity-related products and services designed to increase the health span for the rapidly growing global aging population.
         
      – Late-stage, diversified pipeline of therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair.
         
      – Near-term clinical milestones include Phase 3 start for LBI-201 for Ischemic stroke, Phase 2 data for LBI-101 for soft-tissue reconstruction, and Phase 2 start for LBI-001 in retinal vein occlusion.
         
      – Seasoned management team of medtech and biopharmaceutical veterans with track record of acquiring, developing, and commercializing novel technologies.
         
      – Post-combination company to list on Nasdaq under ticker symbol “LBIO.”
         
      – Business combination expected to close in Q4 2024.
         

    New York, Sept. 20, 2024 (GLOBE NEWSWIRE) — Longevity Biomedical, Inc. (“Longevity” or “Longevity Biomedical”), a biopharmaceutical company focused on advancing new technologies across therapeutics, health monitoring, and digital health solutions to increase human health span, and FutureTech II Acquisition Corp. (“FutureTech”) (NASDAQ: FTII), a publicly traded special purpose acquisition company (“SPAC”), announced today that they have entered into a definitive business combination agreement (the “BCA”) on September 16, 2024. Upon the closing of the transaction pursuant to the BCA, the combined company (the “Combined Company”) will operate as Longevity Biomedical, Inc. and is expected to list on Nasdaq under the ticker symbol “LBIO.”

    Despite the rapid pace of the global population aging, Longevity Biomedical believes the current market for longevity-related products and services is fragmented and that, particularly as it relates to low- and middle-income countries, it is difficult for healthcare consumers to find and purchase the products, technologies and services to address their individual aging needs. To address this unmet need, Longevity Biomedical aims to become a consolidator and leading provider of advanced therapeutic, health monitoring and digital health technologies designed to restore tissue form and function and increase health span for the rapidly growing aging population. To achieve this goal, Longevity intends to build on its existing platform of diversified, late-stage technologies by leveraging its seasoned executive team to continue acquiring first-in-class technologies, products and services that address the growing market of age-related diseases and conditions. Longevity has established an existing pipeline of late-stage, diversified therapeutic candidates addressing cardiovascular disease, ophthalmology and soft tissue reconstruction and repair through the proposed acquisitions of the following technologies:

      – LBI-201 is a non-invasive ultrasonic device being investigated for treatment of ischemic stroke, the second leading cause of death worldwide. It is designed for rapid, convenient delivery of transcranial ultrasound in combination with conventional thrombolytic drug therapy to increase restoration of blood flow in stroke patients with large vessel occlusions that do not have immediate access to thrombectomy facilities and services. Previous clinical studies have demonstrated a nearly two-fold increase in complete vessel recanalization compared to thrombolytic drug therapy alone.
         
      – LBI-001 combines intravenous administration of microspheres with non-invasive ultrasound as a potential treatment of retinal vein occlusion, one of the most common causes of retinal blindness worldwide. LBI-001 Phase 1 clinical results provided favorable safety data and demonstrated improvements in key visual measurements.
         
      – LBI-101 is an off-the-shelf allogenic tissue biomaterial that has completed enrollment in a Phase 2 clinical study for permanent reconstruction of soft tissue affected by aging, traumatic injuries, and surgical procedures. The injectable application is designed to stimulate tissue repair and regeneration. Clinical studies of LBI-101 have demonstrated initial safety, biocompatibility, and new tissue formation without scarring typically associated with injections.
         

    In addition to these clinical stage technologies, Longevity will have, upon the closing of the transactions contemplated by the C&E Agreements {described below}, a pipeline of preclinical stage indications across its initial therapeutic areas of focus. Longevity also plans to seek to acquire additional cutting-edge health technologies in the areas of health monitoring and digital health solutions.

    “Longevity Biomedical is dedicated to advancing science-driven solutions to improve human health. This business combination will provide the platform to advance cutting-edge technologies spanning multiple areas of unmet medical need for the aging population,” said Bradford A. Zakes, Chief Executive Officer of Longevity Biomedical. “The proceeds from this transaction will allow Longevity to reach significant clinical development milestones for our leading technologies that have demonstrated successful results in clinical studies. In addition, Longevity will retain an opportunistic, visionary approach to future health advancements in the areas of health monitoring and digital health solutions.”

    “Longevity is known for developing therapeutic solutions and digital health technologies that are focused on addressing unmet medical needs particularly focused on the aging population,” said Mr. Ray Chen, Chief Executive Officer of FutureTech. “FutureTech is excited to partner with Longevity’s experienced leadership team to accelerate its clinical development pipeline to expand its impact in the healthcare industry.”

    Transaction Overview

    The estimated cash proceeds available to the Combined Company from the transaction consists of FutureTech’s $26.8 million of cash held in trust. The proceeds will be used to achieve key development milestones related to Longevity’s clinical stage assets.

    The Combined Company may seek a pre-transaction PIPE that is expected to close concurrently with the closing of the transaction.

    Longevity has entered into Contribution and Exchange Agreements (collectively and as amended, the “C&E Agreements”) with each of Cerevast Medical, Inc., a Delaware corporation, and Aegeria Soft Tissue, LLC, a Delaware limited liability company (collectively, the “Targets”), pursuant to which, immediately prior to the closing of the proposed transaction between Longevity and FutureTech under the BCA, Longevity will acquire all of the issued and outstanding equity securities of each of the Targets from the current equity holders in exchange for shares of common stock of Longevity. The Targets are developing the therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair as described above. As a result of the transactions contemplated by the C&E Agreements, each of the Targets will be a wholly-owned, indirect subsidiary of the Combined Company upon the closing of the transactions contemplated by the BCA. 

    The existing stockholder of Longevity and the board of directors of each of FutureTech and Longevity unanimously approved the transaction, which is expected to close in Q4 2024. The transaction will require the approval of the stockholders of FutureTech and Longevity and is subject to other customary closing conditions including the receipt of certain SEC regulatory approvals.

    Additional information about the proposed transaction, including a copy of the BCA, will be provided in a Current Report on Form 8-K to be filed by FutureTech with the SEC and available at www.sec.gov.

    Advisors

    Moses & Singer LLP is acting as legal advisor to FutureTech. Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Longevity.

    About Longevity

    Longevity Biomedical is a biopharmaceutical company focused on advancing technologies across therapeutics, health monitoring and digital health solutions to restore tissue form and function in order to increase and improve health span. Longevity’s mission is to become a consolidator and a leading provider of products and services designed to help people live longer, healthier lives. Longevity is acquiring a differentiated therapeutic pipeline of late-stage clinical technologies across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair. Building on this platform, Longevity intends to acquire and/or partner with other health technology companies to become a leading provider of products and services designed to increase and improve health span amongst the rapidly growing aging patient population. Longevity is led by a team of industry experts and scientific advisors with significant experience acquiring, developing and commercializing cutting-edge health technologies. Longevity is headquartered in Bothell, Washington.

    About FutureTech

    FutureTech Capital Acquisition Corp. is a blank check company incorporated as a Delaware corporation for the purpose of effecting a business combination, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

    Additional Information and Where to Find It

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to FutureTech and Longevity. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of Longevity’s business plans and the Combined Company’s business plans including their plans to expand, the sources and uses of cash from the proposed transaction, the anticipated enterprise value of the Combined Company following the consummation of the proposed transaction, any benefits of Longevity’s partnerships, strategies or plans as they relate to the proposed transaction, anticipated benefits of the proposed transaction and expectations related to the terms and timing of the proposed transaction are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of FutureTech and Longevity believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of FutureTech and Longevity caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the registration statement on Form S-4 relating to the proposed transaction, which is expected to be filed by FutureTech with the SEC, and described in other documents filed by FutureTech or Longevity from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither FutureTech nor Longevity can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the business combination due to the failure to obtain approval from FutureTech’s stockholders or satisfy other closing conditions in the BCA, the occurrence of any event that could give rise to the termination of the BCA, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by FutureTech’s public stockholders, costs related to the transaction, the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those to be included under the heading “Risk Factors” in the final prospectus for FutureTech’s initial public offering filed with the SEC on February 14, 2022 and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither FutureTech nor Longevity currently know or that FutureTech and Longevity currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by FutureTech, Longevity, their respective directors, officers or employees or any other person that FutureTech and Longevity will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent the views of FutureTech and Longevity as of the date of this communication. Subsequent events and developments may cause those views to change. However, while FutureTech and Longevity may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of FutureTech or Longevity as of any date subsequent to the date of this communication.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of FutureTech or Longevity, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

    Important Additional Information Regarding the Transaction Will Be Filed With the SEC

    In connection with the proposed business combination, a registration statement on Form S-4 is expected to be filed with the SEC containing a preliminary proxy statement and a preliminary prospectus, and after the registration statement is declared effective, FutureTech will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders and Longevity’s stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. FutureTech’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about Longevity, FutureTech and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of FutureTech as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to FutureTech II Acquisition Corp., 128 Gail Drive, New Rochelle, New York 10085, telephone number (914) 316-4805, Attention: Ray Chen, President and Chief Executive Officer.

    Participants in the Solicitation

    FutureTech and Longevity and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of FutureTech’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of FutureTech’s stockholders in connection with the proposed business combination will be set forth in a registration statement on Form S-4, including a proxy statement/prospectus, when it is filed with the SEC.

    Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of FutureTech’s directors and officers in FutureTech’s filings with the SEC and such information will also be in the registration statement to be filed with the SEC, which will include the proxy statement/prospectus of FutureTech for the proposed transaction.

    For investor and media inquiries, please contact:

    Investor Relations
    Ying Shan
    FutureTech Capital LLC
    yingshan@futuretechcapitalllc.com

    Media Relations
    Rathbun Communications
    Julie Rathbun
    julie@rathbuncomm.com

    The MIL Network –

  • MIL-OSI: EverCommerce Announces Changes to Its Board Of Directors

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Sept. 20, 2024 (GLOBE NEWSWIRE) — EverCommerce Inc. (Nasdaq: EVCM) (the “Company”), a leading provider of SaaS solutions for service SMBs, announced today the appointment of Alexi Wellman to its Board of Directors, effective Monday, September 23, 2024.

    “We are excited to welcome Alexi to our Board of Directors,” said EverCommerce CEO and Chairman of the Board Eric Remer. “Alexi brings extensive experience in operations, financial management, accounting and audit processes and corporate governance that will serve us well in pursuing our growth strategy.”

    Upon joining the EverCommerce Board, Ms. Wellman will serve on the Company’s Audit Committee, bringing substantial expertise from her roles as CEO and CFO of Altbaba, Inc., vice president of finance and global controller at Yahoo Inc., CFO of Nebraska Book Company and practicing CPA and audit partner at KPMG LLP.

    Ms. Wellman also serves on the Board of Directors for public companies including ESS Tech, Inc. (NYSE: GWH) and Werner Enterprises (Nasdaq: WERN), where she is the Chair of both Boards’ Audit Committees.

    “I am thrilled to join the Board of Directors at EverCommerce and apply my financial and governance experience to the Company’s mission of simplifying and empowering the lives of its SMB service business customers,” said Ms. Wellman.

    Alongside this appointment, EverCommerce is also announcing that current Board member Debby Soo will be leaving the Company’s Board, effective October 31, 2024.

    “The Board of Directors, EverCommerce leadership and I thank Debby for her contributions over the past three and a half years,” said Remer. “We appreciate the insight and expertise she brought to the Company.”

    About EverCommerce 

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

    Investor Contact

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

    Media Contact
    Jeanne Trogan
    VP of Communications
    512-705-1293
    Press@evercommerce.com

    The MIL Network –

  • MIL-OSI: iBio Reports Fiscal Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Sept. 20, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today announced its financial results for the fiscal year ended June 30, 2024, and provided a corporate update.

    “Our fiscal year 2024 was a transformational year for iBio, as we’ve solidified our business and financial position as a next-generation antibody company with a machine-learning-enabled platform for designing and developing difficult-to-drug therapeutics,” said CEO and Chief Scientific Officer Martin Brenner, Ph.D., DVM. “We made significant progress entering the fast-growing cardiometabolic and obesity space with our collaboration with AstralBio and strengthened our financial position by eliminating our debt associated with the facility and closing a fully subscribed financing including participation from Ikarian Capital, Lynx1 Capital Management, ADAR1 Capital Management, and other institutional and accredited investors. We continued to build our drug discovery platform, adding innovative technologies that are helping to advance our pipeline and provide critical support to our biopharma partners with best-in-class antibody discovery and development projects.”

    Business Developments:

    • Expanded the AI-powered technology stack with the launch of ShieldTx™, a patent-pending antibody masking technology designed to enable specific, highly targeted antibody delivery to diseased tissue without harming healthy tissue.
    • In February, iBio closed the sale of its early-stage PD-1 asset to Otsuka Pharmaceutical Co., Ltd. for $1MM in upfront cash with contingent downstream payments of up to $52.5MM, a pivotal moment that showcased the power of iBio’s platform to discover best-in-class assets.
    • Added bispecific capabilities with its EngageTx™ technology. We advanced a Trop2 x CD3 molecule to clinical candidate selection stage by demonstrating in a humanized mouse model of squamous cell carcinoma, a significant 36 percent reduction in tumor size 14 days after tumor implantation and after a single dose.  Additionally, we leveraged our EngageTx technology and Epitope Steering technology to successfully develop multiple MUC16 x CD3 molecules, which show potent cell killing against ovarian cancer cells.
    • Entered into a collaboration with AstralBio, Inc. to provide an exclusive license in the cardiometabolic and obesity space. iBio will develop four targets of interest with rights to license up to three of these targets prior to entering the clinic.

    Corporate Developments:

    • At the Company’s Special Meeting of Stockholders held on November 27, 2023, iBio’s stockholders authorized a reverse stock split, with a ratio ranging from 1-for-5 to 1-for-20 (the “Range”), with the ratio within such Range to be determined at the discretion of the Board of Directors (the “Board”), and thereafter the Board approved a one for twenty (1-for-20) reverse stock split of the Company’s shares of common stock. The reverse stock split was effective November 29, 2023.
    • Entered into a best-efforts public offering with investors in the fiscal second quarter for gross proceeds of approximately $4.5MM before deducting placement agent fees and offering expenses
    • Entered into a securities purchase agreement for a private investment in public equity financing with several institutional investors and an accredited investor in the fiscal third quarter and consummated the financing in the fiscal fourth quarter for gross proceeds of approximately $15.0MM before deducting placement agent fees and offering expenses.
    • During the third and fourth quarters, strengthened the Company’s cash position after previously issued warrants were exercised for proceeds of approximately $4.5MM.
    • The Company closed the sale of its manufacturing facility located in Bryan, Texas (the “Property”) to the Board of Regents of the Texas A&M University System for $8.5MM. Following the issuance of pre-funded warrants having a value of $4.5MM to the lender, Woodforest National Bank, iBio and its wholly owned subsidiary, iBio CDMO LLC, satisfied all of the conditions of the settlement agreement releasing the Company and its subsidiary of all obligations with respect to the debt secured by the Property, which coupled with the release of approximately $915K in restricted cash previously held by Woodforest, eliminated approximately $13.2MM in secured debt from the Company’s balance sheet.
    • Strengthened its Board of Directors and executive leadership team through the appointments of Dr. Brenner to the Board of Directors, effective June 1, 2024, and Kristi Sarno as Senior Vice President, Business Development, effective August 8, 2024.

    “We ended this fiscal year well-positioned to advance our technology to drive value for patients and shareholders,” said Chief Financial Officer Felipe Duran. “We strengthened our balance sheet through capital raises and debt extinguishment. In fiscal year 2024, we executed transactions which brought in non-dilutive funding, and we continue to pursue business development projects to strengthen our financial position.”

    Financial Results:

    Revenues for the fiscal year ended June 30, 2024, were approximately $0.2 million, an increase of 100% over fiscal 2023.

    R&D and G&A expenses for fiscal 2024 decreased $5.1 million and $7.3 million, respectively, over the comparable period in fiscal 2023. The decrease in R&D and G&A reflects the Company’s cost savings implemented to support its growing investments in its pipeline, platform technologies, employees, and related infrastructure.

    iBio’s consolidated net loss for the fiscal year ended June 30, 2024, was $24.9 million, a decreased loss of $40.1 million compared to 2023 primarily because of the decrease in expenses related to the Company’s discontinued operations and cost saving initiatives.

    iBio held cash, cash equivalents and restricted cash of $14.4 million as of June 30, 2024.

    As disclosed in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, which was filed on September 20, 2024 with the Securities and Exchange Commission, the audited financial statements contained an audit opinion from its registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern. See further discussion in footnote 2 to the Company’s financial statements included in the Company’s Annual Report on Form 10-K. This announcement is made pursuant to NYSE American LLC Company Guide Sections 401(h) and 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph.

    About iBio, Inc.

    iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements such as ending the fiscal year being well-positioned to advance the Company’s technology to drive value for patients and shareholders; and continuing to pursue business development projects to strengthen the Company’s financial position. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully advance its technology and continue to pursue business development projects to strengthen the Company’s financial position; its ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to its ability to promote or commercialize its product candidates for specific indications; acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products; the continued maintenance and growth of its patent estate; its ability to establish and maintain collaborations and attract and increase partnership opportunities; competition; the substantial doubt exists related to the Company’s ability to operate as a going concern; its ability to raise additional capital in order to fully execute the Company’s longer-term business plans and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Contact:

    iBio, Inc. 
    Investor Relations 
    ir@ibioinc.com 

    Susan Thomas 
    iBio, Inc. 
    Media Relations 
    susan.thomas@ibioinc.com  

    iBio, Inc. and Subsidiaries
    Consolidated Statements of Operations and Comprehensive Loss
    (In Thousands, except per share amounts)

                 
        Years Ended
        June 30, 
        2024      2023
                 
    Revenues   $ 225     $ —  
                 
    Operating expenses:            
    Research and development     5,185       10,327  
    General and administrative     11,674       19,016  
    Total operating expenses     16,859       29,343  
                 
    Operating loss     (16,634 )     (29,343 )
                 
    Other income (expense):            
    Interest expense     (172 )     (83 )
    Interest income     363       213  
    Loss on sales of debt securities     —       (98 )
    Gain on sale of intellectual property     1,000       —  
    Total other income     1,191       32  
                 
    Net loss from continuing operations     (15,443 )     (29,311 )
                 
    Loss from discontinued operations     (9,464 )     (35,699 )
                 
    Net loss   $ (24,907 )   $ (65,010 )
                 
    Comprehensive loss:            
    Consolidated net loss   $ (24,907 )   $ (65,010 )
                 
    Other comprehensive loss – unrealized gain on debt securities     —       180  
    Other comprehensive income – foreign currency adjustment     —       33  
                 
    Comprehensive loss   $ (24,907 )   $ (64,797 )
                 
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – continuing operations   $ (4.03 )   $ (47.88 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – discontinued operations   $ (2.47 )   $ (58.31 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – total   $ (6.50 )   $ (106.19 )
                 
    Weighted-average common shares outstanding – basic and diluted     3,831       612  
                     

    iBio, Inc. and Subsidiaries

    Consolidated Balance Sheets
    (In Thousands, except share and per share amounts)

                 
                 
        June 30, 2024      June 30, 2023
                 
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 14,210     $ 4,301  
    Restricted cash     —       3,025  
    Subscription receivable     —       204  
    Promissory note receivable and accrued interest     713       —  
    Prepaid expenses and other current assets     749       664  
    Current assets held for sale (see Note 3 – Discontinued Operations)     —       18,065  
    Total Current Assets     15,672       26,259  
                 
    Restricted cash     215       253  
    Promissory note receivable     1,081       1,706  
    Finance lease right-of-use assets, net of accumulated amortization     339       610  
    Operating lease right-of-use asset     2,401       2,722  
    Fixed assets, net of accumulated depreciation     3,632       4,219  
    Intangible assets, net of accumulated amortization     5,368       5,388  
    Security deposits     26       50  
    Total Assets   $ 28,734     $ 41,207  
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Accounts payable   $ 358     $ 1,849  
    Accrued expenses     2,028       4,561  
    Finance lease obligations – current portion     299       272  
    Operating lease obligation – current portion     436       389  
    Equipment financing payable – current portion     178       160  
    Term promissory note – current portion     218       —  
    Insurance premium financing payable     123       —  
    Term note payable – net of deferred financing costs     —       12,937  
    Contract liabilities     200       —  
    Current liabilities related to assets held for sale     —       1,941  
    Total Current Liabilities     3,840       22,109  
                 
    Finance lease obligations – net of current portion     53       351  
    Operating lease obligation – net of current portion     2,688       3,125  
    Equipment financing payable – net of current portion     63       241  
    Term promissory note – net of current portion     766       —  
                 
    Total Liabilities     7,410       25,826  
                 
    Stockholders’ Equity            
    Series 2022 Convertible Preferred Stock – $0.001 par value; 1,000,000 shares authorized at June 30, 2024 and June 30, 2023; 0 shares issued and outstanding as of June 30, 2024 and June 30, 2023     —       —  
    Common stock – $0.001 par value; 275,000,000 shares authorized at June 30, 2024 and June 30, 2023; 8,623,676 and 1,015,505 shares issued and outstanding as of June 30, 2024 and June 30, 2023, respectively     9       1  
    Additional paid-in capital     335,162       304,320  
    Accumulated deficit     (313,847 )     (288,940 )
    Total Stockholders’ Equity     21,324       15,381  
                 
    Total Equity     21,324       15,381  
    Total Liabilities and Stockholders’ Equity   $ 28,734     $ 41,207  

    The MIL Network –