NewzIntel.com

Category: Commerce

  • MIL-OSI Australia: 2025 Tax Time toolkit for small business now available

    Source: New places to play in Gungahlin

    Tax time doesn’t have to be stressful. The Tax Time toolkit for small business is designed to support you not just during tax time, but all year round.

    Inside the toolkit, you’ll find a directory of links to essential information, tools, calculators and learning resources. Whether you’re a sole trader or running a growing business, the toolkit can help you stay on top of your tax obligations and make informed decisions.

    The toolkit includes helpful information on:

    • home-based business expenses
    • motor vehicle expenses
    • travel expenses
    • digital product expenses
    • using business money and assets
    • pausing or permanently closing your business.

    With useful information and guides, this is your go-to resource for lodging with confidence this tax time.

    The toolkit is available to download and share at ato.gov.au/SBTaxTimeToolkit.

    Keep up to date

    We’ve set up tailored communication channels for small businesses. They will keep you updated on important information and changes.

    Read more articles in our Small business newsroom.

    Subscribe to our free to our monthly Small business email newsletterExternal Link

    Get email notifications about new and updated information on our website. You can choose to receive updates that matter to you. Select the ‘Business and organisations’ category. This way, your subscription will get notifications for more Small business newsroom articles like this one.

    MIL OSI News –

  • MIL-OSI Australia: Debunking Division 7A myths

    Source: New places to play in Gungahlin

    If you own a private company, understanding how Division 7A applies is crucial to avoiding costly tax consequences when accessing its money or other benefits.

    Division 7A is an integrity rule that prevents private company profits from being provided to shareholders or their associates tax-free. It doesn’t apply to payments of salary and wages, director fees, ordinary dividends or certain fringe benefits, but has broad application to other payments, loans and benefits. When Division 7A applies, the recipient of the payment, loan or other benefit will be deemed to have been paid an unfranked dividend that will be included in their assessable income.

    To support your understanding of your tax obligations when managing private company money, we’ve launched new content: Division 7A Myths debunked. This page debunks common myths about Division 7A, breaking these into topics such as business structure, record keeping, and payments to other entities.

    While Division 7A can be complex, most errors we see that result in its application are simple in nature, including:

    • not recognising that your company’s money is not your money, and you can’t access it for personal use without tax consequences
    • loans being made without complying loan agreements
    • applying the wrong benchmark interest rate when calculating Division 7A loan repayments.

    These errors are often the result of common myths about Division 7A and how it works. To help you avoid making simple, but costly, Division 7A errors, we encourage you to explore our new resource so you can be across these myths.

    Division 7A resources

    We also recommend you bookmark or favourite our private company benefits Division 7A dividends web content, so you can easily access our comprehensive information whenever you need it.

    Keep up to date

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

    Read more articles in our online Business bulletins newsroom.

    Subscribe to our free:

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

    MIL OSI News –

  • MIL-OSI Economics: Lufthansa Group appoints Kevin Markette as Senior Director – Regional Sales South Asia

    Source: Lufthansa Group

    Lufthansa Group is pleased to announce the appointment of Kevin Markette as Senior Director – Regional Sales South Asia. Based in New Delhi, Kevin will oversee all commercial activities across the South Asia region, including the strategically important Indian market.

    A seasoned aviation executive, Kevin brings over 20 years of leadership experience within Lufthansa Group, having successfully managed commercial, customer, and operational teams across Africa, the Middle East, and the Americas. Raised in Spain and South Africa and trained as a Commercial Pilot, Kevin offers a truly global perspective and strong intercultural fluency.

    Kevin began his career with Lufthansa in South Africa in 2000, eventually managing Pricing, Reservations, and Ticketing for Southern Africa. In 2008, he moved to Dubai to lead Marketing and Business Development for the Gulf States, and later became Country Manager for Ghana, where he was responsible for Lufthansa’s operations in Accra.

    From 2016 to 2020, Kevin served as Head of Sales for the Southeast USA, based in Atlanta, overseeing six major gateways operated by four Lufthansa Group airlines. He was subsequently promoted to Head of Customer Relations for the Americas, based in New York, where he managed service recovery, customer feedback strategy, and commercial insights across North and South America until the end of 2022.

    Since 2022, Kevin has been based in Nairobi as General Manager for East Africa, leading the Group’s commercial strategy and partnerships across Kenya, Uganda, Rwanda, Burundi, and Tanzania. In this role, he spearheaded digital transformation initiatives, supported Brussels Airlines’ regional expansion, and championed sustainability efforts.

    According to Lufthansa Group Vice President Asia Pacific and Joint Ventures East, Felipe Bonifatti:

    “With over two decades at Lufthansa Group, Kevin brings extensive international experience to the Asia Pacific region. His sharp commercial insight and passion for our industry make him an invaluable addition. I am delighted to welcome him to Delhi, where he will lead all commercial activities for the Lufthansa Group in this strategically important market.”

    Kevin is passionate about building high-performing, cross-cultural teams and cultivating long-term partnerships with customers and stakeholders. Outside of work, he and his wife Jolene enjoy traveling, culinary adventures, and spending time outdoors.

    About Lufthansa Group

    The Lufthansa Group is an aviation group with operations worldwide. With 100,000+ employees from 164 nations worldwide, Lufthansa Group generated revenue of €37.6bn in the financial year 2024. Our largest business segment is Passenger Airlines while other key business segments include Logistics and Maintenance, Repair and Overhaul (MRO). Other companies and Group functions such as IT companies and Lufthansa Aviation Training form complementary components of the Group. All airlines and business segments play leading roles in their respective markets.

     

    MIL OSI Economics –

  • MIL-OSI New Zealand: Education – Ara post-grad business programmes ready to roll out

    Source: Ara Institute of Canterbury

    Ara Institute of Canterbury is proud to announce New Zealand Qualifications Authority (NZQA) approval for the delivery of a new suite of postgraduate programmes in Applied Management, with classes set to begin in Term 4 of 2025.
    This exciting development marks a major milestone for business education in Christchurch and the wider Canterbury region.
    Modelled on successful programmes elsewhere in the country, these study options are designed to meet the growing demand for applied postgraduate business study – particularly among international learners and local professionals looking to upskill.
    The suite includes the Postgraduate Certificate, Postgraduate Diploma, and Master of Applied Management, designed to suit diverse learners at different stages of their journey – from recent graduates to experienced professionals.
    The 180-and 240-credit master’s degree options cater to both business and non-business bachelor’s degree holders.
    The programme includes two weekly sessions: one offered in HyFlex mode (attending in person or online, with recordings available), and one in-person session focused on discussion and activities. The second session may move online in future but will begin on campus.
    As Canterbury’s only applied business postgraduate qualification with this delivery model, it offers a unique blend of flexibility, community and access.
    Learners will explore key topics in innovation, planning, sustainability, globalisation and technology management – backed by a teaching team with strong academic credentials and practical research expertise.
    Graduates will be equipped for success in areas such as strategic management, entrepreneurship, consultancy and sustainable leadership.
    Dr Jeremy Ainsworth, Academic Manager – Business Programmes at Ara, said the initiative makes postgraduate study much more accessible in New Zealand’s second-largest city. “The programme will also serve industry demands for graduates with advanced problem-solving, ethical decision-making and adaptability – all skills essential in an evolving workplace shaped by emerging technologies,” he said.
    It will also offer opportunities for increased research outputs in a rapidly evolving sector.
    “This has been a journey for Ara, and one that has involved the help and support of many colleagues,” Ainsworth said.
    “Getting the tick from NZQA is a proud moment for our team. There’s more mahi to come but we’ll be well and truly ready to welcome our first cohort for these programmes in September.
    With term-based intakes continuing from 2026 onwards, more information about postgraduate Applied Management options can be found here: Postgraduate Applied Management – Ara

    MIL OSI New Zealand News –

  • MIL-OSI China: US stocks extend gains to conclude first half of 2025

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

    U.S. stocks continued to climb higher on Monday as signs of progress in trade negotiations buoyed investor sentiment, closing out one of the most volatile first halves in recent years.

    The Dow Jones Industrial Average rose 275.50 points, or 0.63 percent, to 44,094.77. The S&P 500 added 31.88 points, or 0.52 percent, to 6,204.95. The Nasdaq Composite Index increased 96.28 points, or 0.47 percent, to 20,369.73.

    Nine of the 11 primary S&P 500 sectors ended higher, with technology and financials leading the advance by rising 0.98 percent and 0.86 percent, respectively. Consumer discretionary and energy lagged behind, falling 0.86 percent and 0.66 percent.

    Monday’s gains came after Canada announced it would withdraw its digital services tax, a move widely seen as an effort to smooth relations with the United States just days after U.S. President Donald Trump declared an end to all trade discussions with Ottawa. The tax, which was set to take effect Monday, would have targeted major tech firms such as Google, Meta, and Amazon.

    Market participants are now looking ahead to the expiration of Trump’s 90-day tariff pause next week. Also on Monday, U.S. Treasury Secretary Scott Bessent said some countries are “negotiating in good faith,” though he warned that tariffs could return to previously announced levels if talks falter.

    Meanwhile, attention turned to the U.S. Senate, where lawmakers began a marathon session to debate amendments to Trump’s proposed 4.5 trillion U.S. dollars tax package. The Congressional Budget Office projected the bill could add 3.3 trillion dollars to the federal deficit over the next ten years.

    Despite the looming tariff deadline and uncertainty surrounding the tax legislation, analysts believe strong equity fundamentals and broader market participation could sustain the recent rally. Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, noted that improving breadth supports the view that gains may continue into the second half of the year.

    “While the market has had much to digest the first six months of 2025, resiliency has prevailed,” Leslie Falconio, head of taxable fixed income strategy at UBS Financial Services, wrote last Friday. “However, we are not out of the woods just yet, as bouts of volatility and pockets of vulnerability are expected in the second half of the year.”

    Among individual movers, Apple surged 2.03 percent after Bloomberg reported the company may integrate AI technology from OpenAI or Anthropic into its Siri voice assistant. Broadcom rose 2.34 percent, while Nvidia, Microsoft, and Meta Platforms posted modest gains. On the downside, Amazon and Tesla fell nearly 2 percent, and Alphabet declined 0.49 percent. 

    MIL OSI China News –

  • MIL-OSI: DRC Medicine Ltd. Announces the Business Combination Agreement with Ribbon Acquisition Corp.

    Source: GlobeNewswire (MIL-OSI)

    Combined Company Expected to be Listed on NASDAQ Global Market

    • DRC Medicine Ltd. (“DRC Medicine” or the “Company”), is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges.
    • The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis.
    • Combined company to have an implied initial pro forma equity value of approximately $422.15 Million, (assuming no redemptions) and the transaction is expected to deliver cash proceeds of around $50.42 Million to DRC Medicine (assuming no redemptions) to fund DRC Medicine’s business and operations, which include devices’ clinical trial and certification.
    • Current DRC Medicine shareholders will retain 100% of their equity and will continue to own approximately 82.91% of the combined company on a pro forma basis, assuming no redemptions by Ribbon’s shareholder.

    Tokyo, June 30, 2025 (GLOBE NEWSWIRE) — DRC Medicine Ltd., an innovative healthcare and biotechnology company based in Tokyo, Japan (“DRC” or the “Company”), announced today that it has entered into a business combination agreement (the “Business Combination Agreement”) with Ribbon Acquisition Corp. (NASDAQ: RIBB) (“Ribbon”), a special purpose acquisition company, DRC Medicine Inc., a Delaware company limited by shares (DRC Medicine) and DRC Merger Inc. (“Merger Sub”), a Delaware company limited by shares and a directly owned subsidiary of DRC Medicine, which would result in DRC Medicine becoming a publicly-traded company (the “Proposed Transaction”).

    DRC Medicine Ltd. is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis. In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease drugs development company, the drug is currently in clinical trials. This diverse portfolio is driven by a strong focus on unmet medical needs, AI-assisted discovery, and global healthcare infrastructure transformation. For more information, visit https://drciyaku.co.jp/ and https://drciyaku.jp/.

    Dr. Marumi Okazaki, President & CEO of DRC, said: “This transaction will give us the resources that will enable us to capture the positive trends in our industry. Given the growth of airborne allergens, respiratory diseases and infectious diseases, increasing demand for better respiratory protection mask and faster and a more accurate IVD kits, we intend to invest in more IVD kits paired with AI-powered Apps in achieving universal diagnostics to empower the general public in guarding their health and fight against allergen, respiratory diseases and infectious diseases as well as catapult our research and development, production capabilities to meet the rising demand for better respiratory protection mask and AI-powered IVD kits.”

    Mr. Angshuman (Bubai) Ghosh, Chairman/CEO of Ribbon, said, “This business combination agreement with DRC is a great opportunity to enter into an exciting and accelerating growth healthcare and biotechnology industry. We believe its highly capable and experienced management team with all of the founders with substantial experience in developing innovative technologies, supported by their technology-savvy specialists and R&D team who are committed to pioneering innovations, will enable DRC to continuously innovate and advance their healthcare and biotechnology applications to gain a greater foothold in the global market.”

    Transaction Overview

    As a part of the Proposed Transaction, an intermediate holding company incorporated in Japan (the “Intermediate Co.” will acquire the shares of DRC Medicine, after which the Intermediate Co. will engage in a share exchange transaction with the  shareholders of the Company, such that the Company will become a wholly-owned subsidiary of Intermediate Co. and the shareholders of the Company will become shareholders of DRC Medicine (the “DRC Restructuring”). Following the consummation of the DRC Restructuring and subject to the terms and conditions of the Business Combination Agreement, Ribbon will merge with and into the Merger Sub, with Merger Sub continuing as the surviving company and remaining a wholly owned subsidiary of DRC Medicine.

    The Proposed Transaction implies a pre-money equity value of US$350 million of DRC on a fully diluted basis, and is expected to provide DRC with access to approximately US$50 million cash from Ribbon’s IPO proceeds held in trust, assuming no redemption by Ribbon’s shareholders in connection with the current and future proxy exercises and prior to the payment of any transaction expenses. The parties will cooperate in connection with any financing arrangement the parties seek in connection with the Proposed Transaction.

    Advisors

    A.G.P./Alliance Global Partners serves as the financial advisor and lead capital markets advisor to Ribbon. Geneva Capital Group serves as the financial advisor to DRC. Celine & Partners serves as the legal advisor to Ribbon. Ross Law Group serves as the legal advisor to DRC.

    About DRC Medicine Ltd. 

    Founded in 2007, DRC is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis . In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease.

    About Ribbon Acquisition Corp. 

    Ribbon is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Ribbon intends to conduct a global search for target businesses without being limited by geographic region, certain executive officers and independent directors are based in Hong Kong, and certain executive officers have experience investing in and building businesses in the Asia Pacific region and have a deep understanding of the region’s business environment, regulations, regulatory bodies and culture. Ribbon will not undertake an initial business combination with any company being based in or having the majority of the company’s operations in Greater China. Ribbon is led by Mr. Angshuman (Bubai) Ghosh, Ribbon’s Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, Ribbon’s Chief Financial Officer.

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

    This press release relates to the proposed business combination between Ribbon Acquisition Corp. and DRC Medicine Ltd.. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. DRC intends to file a Registration Statement on Form S-4 with the SEC, which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Ribbon shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Ribbon and DRC will also file other documents regarding the proposed business combination with the SEC. 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. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF RIBBON ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

    Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ribbon and DRC through the website maintained by the SEC at www.sec.gov. The documents filed by Ribbon and DRC with the SEC also may be obtained free of charge upon written request to Ribbon Acquisition Corp., Central Park Tower LaTour Shinjuku Room 3001, 6-15-1 Nishi Shinjuku, Shinjuku-ku Tokyo 160-0023.

    Participants in the Solicitations

    Ribbon, DRC 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 from Ribbon’s shareholders in connection with the proposed business combination. You can find information about Ribbon’s directors and executive officers and their interest in Ribbon in Ribbon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was originally filed with the SEC on April 1, 2025. A list of the names of the directors, executive officers, other members of management and employees of Ribbon and DRC, as well as information regarding their interests in the business combination, will be contained in the Registration Statement on Form S-4 to be filed with the SEC by DRC. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.

    Caution About Forward-Looking Statements

    This press release may contain 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 Ribbon and DRC. These forward-looking statements are based on Ribbon’s and DRC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. 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 DRC’s business plans including its plans to expand, the anticipated enterprise value of the combined company following the consummation of the proposed business combination, anticipated benefits of the proposed business combination and expectations related to the terms and timing of the proposed business combination, are also forward-looking statements.

    Although each of Ribbon and DRC believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of Ribbon and DRC cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. These factors are difficult to predict accurately and may be beyond Ribbon’s and DRC’s control. In addition, there will be risks and uncertainties described in the proxy statement/prospectus on Form S-4 relating to the proposed business combination, which is expected to be filed by DRC with the SEC and other documents filed by Ribbon or DRC 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 expressed or implied in the forward-looking statements.

    There may be additional risks that neither Ribbon or DRC presently know or that Ribbon and DRC currently believe are immaterial and 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 Ribbon or DRC, their respective directors, officers or employees or any other person that Ribbon and DRC will achieve their objectives and plans in any specified time frame, or at all. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Ribbon or DRC to predict these events or how they may affect Ribbon or DRC. Except as required by law, neither Ribbon nor DRC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Ribbon’s and DRC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against Ribbon or DRC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of Ribbon or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of Ribbon or DRC as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; Ribbon’s estimates of expenditures and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; the impact of the COVID-19 pandemic; changes in laws and regulations that impact DRC; ability to enforce, protect and maintain intellectual property rights; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Ribbon’s final prospectus dated January 14, 2025 relating to its initial public offering and in subsequent filings with the SEC, including the registration statement on Form S-4 relating to the business combination expected to be filed by DRC.

    No Offer or Solicitation

    This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

    For further queries please contact:

    Geneva Capital Group on behalf of DRC

    Bob Lau, bob.lau@genevagroup.com.sg 

    The MIL Network –

  • MIL-OSI USA: Hagerty, 18 Senate Colleagues Reintroduce Legislation to End Counting of Illegal Immigrants in Determining Electoral College Votes and Congressional District Apportionment

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    Counting illegal immigrants’ voting power encourages illegal immigration and destroys equal representation by making some citizens’ votes more powerful than others

    WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Rules Committee, led his colleagues in reintroducing the Equal Representation Act, legislation to ensure that only legal citizens are factored into the count for Congressional districts and the Electoral College map that determines presidential elections. The current method of counting illegal immigrants for purposes of representation serves as a perverse incentive for open borders to boost the relative political power of the states and voters that court it.

    Currently, illegal immigrants are counted for congressional district apportionment and, therefore, Electoral College votes. For example, in a state like California, millions of illegal alien residents result in California taking several more congressional seats and Electoral College votes than the states’ population of citizens would justify. In other words, being a magnet for illegal immigration increases the power of a Californian’s vote relative to an individual in another state with less population boost from illegal immigration. This creates a perverse incentive encouraging illegal immigration and resettlement to increase political power.

    Co-sponsors of the legislation include Senators Katie Britt (R-AL), Ted Budd (R-NC), Kevin Cramer (R-ND), Mike Crapo (R-ID), Steve Daines (R-MT), John Hoeven (R-ND), Ron Johnson (R-WI), Jim Justice (R-WV), James Lankford (R-OK), Mike Lee (R-UT), Cynthia Lummis (R-WY), Roger Marshall (R-KS), Pete Ricketts (R-NE), Jim Risch (R-ID), Eric Schmitt (R-MO), Rick Scott (R-FL), Tim Sheehy (R-MT), and Tommy Tuberville (R-AL).

    “It is unconscionable that illegal immigrants and non-citizens are counted toward congressional district apportionment and our electoral map for the presidency, which also heavily skews the seat count in the U.S. House of Representatives,” said Senator Hagerty. “While people continue to flee Democrat-run cities, desperate Democrats have back-filled the mass exodus with illegal immigrants so that they do not lose their seats in Congress or their electoral votes, hence artificially boosting their political power and in turn diluting the power of other Americans’ votes. I’m pleased to lead my colleagues in reintroducing this legislation that would require a citizenship question on the census and will ensure that only citizens are counted in congressional redistricting.”

    “Every ten years when the census is conducted, it’s imperative that only U.S. citizens are included in the count to determine the apportionment of congressional seats and allocation of Electoral College votes,” said Senator Britt. “Counting illegal aliens for these critical purposes only rewards reckless jurisdictions for supporting open borders and sanctuary policies. The Equal Representation Act is a straightforward and commonsense measure to uphold fundamental fairness, and I’m proud to cosponsor it.”

    “For years, Democrat-run sanctuary cities and states have used millions of illegal aliens to grow their political influence,” said Senator Budd. “Their actions have stripped power away from American citizens who deserve to have their voices and votes equally accounted for. Illegal aliens have no place dictating the congressional seats or Electoral College votes a state receives.”

    “The Census is the foundation for representation in our political system, and any census that could include non-citizens in the apportionment count is really concerning to me, and it ought to be to all North Dakotans,” said Senator Cramer. “Illegal immigrants and non-citizens cannot vote and should not be used as pawns as the Democrats redistrict in various states. Our Census has to count both Americans and non-Americans but should also distinguish between them.”

    “Only U.S. citizens should be included in Census Bureau counts to apportion congressional and Electoral College representation,” said Senator Crapo. “This vital reform would prevent states like California and New York from padding their population totals with those here illegally to tip the scales and boost their political power in Washington, D.C.”

    “The law is clear- illegal immigrants are not citizens of the United States and should not be counted as such,” said Senator Daines. “This bill is a commonsense measure to prohibit illegal immigrants from being counted in censuses, so that sanctuary cities can’t exploit the electoral college and taxpayer resources.” 

    “The Biden Administration’s open border policies have created the worst border crisis in history,” said Senator Johnson. “This bill ensures that congressional seats are apportioned based solely on U.S. citizens, protecting the integrity of our democratic system. Americans deserve to have their voices fully represented in Congress, not diluted by those who entered the country illegally.”

    “This is just commonsense,” said Senator Justice. “Absolutely no one who is in this country illegally should be counted when it comes to Congressional seats or Electoral College votes. Representation should be decided by American citizens-period. I am proud to support the Equal Representation Act to protect the integrity of our elections and to ensure every legal vote is counted equally.”

    “Only American citizens should count toward the apportionment of congressional seats and Electoral College votes,” said Senator Lummis. “Under current law, states harboring large illegal alien populations get extra representation and power at the expense of law-abiding states like Wyoming. This bill protects a fair electoral process and prevents Democrat-led states from ignoring federal immigration laws.”

    “The Equal Representation Act stands for a simple proposition: Americans should decide American elections,” said Senator Marshall. “States like California and New York should not be able to inflate their votes in the Electoral College—and in Congress—by counting non-citizens in the Census. I’m proud to support this bill to ensure that every vote in the Electoral College and Congress reflects the voices of American citizens only.”

    “Since 1820, the federal government has routinely utilized the Census to ask questions about citizenship status,” said Senator Ricketts. “This current policy rewards sanctuary cities and sanctuary states with outsized population because it’s counting people who came here illegally. Those people broke the law and must not be counted for representation. It’s fundamentally unfair to Nebraskans, or citizens in states who are following the law, to reward folks in states who are breaking the law. Only citizens can vote in elections and that’s the way it needs to remain.”

    “Democrats are undermining the rights of U.S. citizens by encouraging illegal immigrants to enter our country and skew congressional redistricting for political gain,” said Senator Risch. “The Equal Representation Act requires that the Census Bureau include a citizenship question ensuring American values and voices take priority.”

    “American elections should be determined by American citizens and American citizens alone,” said Senator Schmitt. “Voting is the foundation of our democracy, giving U.S. citizens a voice in shaping our future. I am proud to join this bill to protect Americans’ vote and keep our elections secure.”

    “Illegal aliens shouldn’t be allowed to break the law and be rewarded with taxpayer-funded benefits, and states that shelter them shouldn’t gain increased influence in Washington as a result,” said Senator Rick Scott. “Since illegal aliens are currently counted in the census, states like California receive disproportionate representation in the Electoral College and the House of Representatives. By restoring the census to its pre-2000 standard and including a citizenship question, this bill ensures that states like California don’t gain an unfair advantage over states like Florida, and that every citizen’s vote carries equal weight.”

    “Illegal aliens have no right to congressional representation in this country, and they have no right to determine who our elected leaders are,” said Senator Tuberville. “The balance of power shouldn’t be weighed down by people who aren’t citizens of this country. Counting illegals in the Electoral College and congressional districts can completely alter the outcome of our elections. Thankfully, President Trump and his administration are deporting illegals in droves. I’m proud to join Senator Hagerty in reintroducing the Equal Representation Act so that ONLY Americans determine our elected leaders.”

    The Equal Representation Act:

    • Requires that the Census Bureau include a citizenship question on any future census to provide a greater understanding of the U.S. population and delineate between citizens and non-citizens for apportionment purposes;
    • Prohibits non-citizens from being counted for purposes of congressional district and Electoral College apportionment; and
    • Requires that the Census Bureau publicly report on certain demographic data.

    Background:

    • In January 2024, Hagerty led his Senate Republican colleagues in introducing the Equal Representation Act.
    • In March 2024, every single Senate Democrat voted against Hagerty’s legislation as an amendment to appropriations bills, which put them on the record siding with illegal aliens over American citizens.
    • The House of Representatives passed the Equal Representation Act on May 8, 2024.
    • Following House passage, Senate Democrats once again blocked Hagerty’s legislation.
    • In a hearing, former Secretary of Commerce Gina Raimondo admitted to Hagerty that higher local illegal alien populations equal more Congressional seats and Electoral Votes.

    Full text of the legislation can be found here.

    MIL OSI USA News –

  • MIL-OSI China: China extends anti-dumping duties on stainless steel imports from EU, UK, ROK and Indonesia: commerce ministry

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

    China’s Ministry of Commerce announced Monday that it would extend anti-dumping duties aimed at stainless steel billets and hot-rolled stainless steel plates and coils imported from the European Union (EU), the United Kingdom (UK), the Republic of Korea (ROK) and Indonesia for another five years, starting Tuesday.

    This decision follows an expiry review of anti-dumping measures aimed at the products initiated in July 2024 at the request of China’s domestic industry.

    If these anti-dumping measures were terminated, the dumping of stainless steel billets and hot-rolled stainless steel plates and coils imported from the EU, UK, ROK and Indonesia could continue or recur, potentially causing ongoing or renewed harm to China’s domestic industry, the ministry said.

    Under the extended measures, anti-dumping duties on the imported products were set at a range of 23.1 percent to 103.1 percent for the ROK, 43 percent for the EU and the UK, and 20.2 percent for Indonesia.

    Stainless steel billets and hot-rolled stainless steel plates and coils are widely used in industries such as ships, containers, railways, electric power, petroleum and petrochemicals. 

    MIL OSI China News –

  • MIL-OSI USA: Crapo, Risch and 17 Senate Colleagues Reintroduce Legislation to End Counting of Illegal Immigrants in Determining Electoral College Votes and Congressional District Apportionment

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senators Mike Crapo and Jim Risch (both R-Idaho) joined U.S. Senator Bill Hagerty (R-Tennessee), a member of the Senate Rules Committee, and sixteen colleagues in reintroducing the Equal Representation Act, legislation to ensure that only legal citizens are factored into the count for congressional districts and the Electoral College map that determines presidential elections.  The current method of counting illegal immigrants for purposes of representation serves as a perverse incentive for open borders to boost the relative political power of the states and voters that court it.

    “Only U.S. citizens should be included in Census Bureau counts to apportion congressional and Electoral College representation,” said Senator Crapo.  “This vital reform would prevent states like California and New York from padding their population totals with those here illegally to tip the scales and boost their political power in Washington, D.C.”

    “Democrats are undermining the rights of U.S. citizens by encouraging illegal immigrants to enter our country and skew congressional redistricting for political gain,” said Senator Risch.  “The Equal Representation Act requires that the Census Bureau include a citizenship question ensuring American values and voices take priority.”

    “It is unconscionable that illegal immigrants and non-citizens are counted toward congressional district apportionment and our electoral map for the presidency, which also heavily skews the seat count in the U.S. House of Representatives,” said Senator Hagerty.  “While people continue to flee Democrat-run cities, desperate Democrats have back-filled the mass exodus with illegal immigrants so that they do not lose their seats in Congress or their electoral votes, hence artificially boosting their political power and in turn diluting the power of other Americans’ votes.  I’m pleased to lead my colleagues in reintroducing this legislation that would require a citizenship question on the census and will ensure that only citizens are counted in congressional redistricting.”

    Currently, illegal immigrants are counted for congressional district apportionment and, therefore, Electoral College votes.  For example, in a state like California, millions of illegal alien residents result in California taking several more congressional seats and Electoral College votes than the state’s population of citizens would justify.  In other words, being a magnet for illegal immigration increases the power of a Californian’s vote relative to an individual in another state with less population boost from illegal immigration.  This creates a perverse incentive encouraging illegal immigration and resettlement to increase political power.

    Co-sponsors of the legislation include Senators Katie Britt (R-Alabama), Ted Budd (R-North Carolina), Kevin Cramer (R-North Dakota), Steve Daines (R-Montana), John Hoeven (R-North Dakota), Ron Johnson (R-Wisconsin), Jim Justice (R-West Virginia), James Lankford (R-Oklahoma), Mike Lee (R-Utah), Cynthia Lummis (R-Wyoming), Roger Marshall (R-Kansas), Pete Ricketts (R-Nebraska), Eric Schmitt (R-Missouri), Rick Scott (R-Florida), Tim Sheehy (R-Montana) and Tommy Tuberville (R-Alabama).

    The Equal Representation Act:

    • Requires that the Census Bureau include a citizenship question on any future census to provide a greater understanding of the U.S. population and delineate between citizens and non-citizens for apportionment purposes;
    • Prohibits non-citizens from being counted for purposes of congressional district and Electoral College apportionment; and
    • Requires that the Census Bureau publicly report on certain demographic data.


    Background:

    • In January 2024, Senate Republicans introduced the Equal Representation Act.
    • In March 2024, every single Senate Democrat voted against the legislation as an amendment to appropriations bills, which put them on the record siding with illegal aliens over American citizens.
    • The House of Representatives passed the Equal Representation Act on May 8, 2024.
    • Following House passage, Senate Democrats once again blocked the legislation.
    • In a hearing, former Secretary of Commerce Gina Raimondo admitted to Senator Hagerty that higher local illegal alien populations equal more congressional seats and electoral votes.

    Full text of the legislation can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Kansas Small Businesses, Private Nonprofits and Residents Affected by June Storms and Flooding

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Kansas small businesses, private nonprofits and residents to offset physical and economic losses from severe storms, torrential rain and flooding occurring June 3-7. The SBA issued a disaster declaration in response to a request received from Gov. Laura Kelly on June 26.

    The declaration covers the Kansas counties of Butler, Chase, Cowley, Elk, Greenwood, Harvey, Marion, Sedgwick and Sumner.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP)organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

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

    Interest rates are as low as 4% for businesses, 3.62% for nonprofits, and 2.81% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    “When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

    Beginning Tuesday, July 1, SBA customer service representatives will be on hand at the following Disaster Loan Outreach Center (DLOC) to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    The DLOC hours of operation are as follows:

    BUTLER COUNTY
    Disaster Loan Outreach Center
    Butler County Historic Courthouse
    First Floor – former driver’s license room
    205 W. Central Ave.
    El Dorado, KS  67042

    Opens at 12:00 p.m., Tuesday, July 1

    Mondays – Fridays, 8:00 a.m. – 4:30 p.m.

    Closed Friday, July 4 for Independence Day

    Permanently closes at 4:30 p.m., Thursday, July 24

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

    The deadline to return physical damage applications is Aug. 26, 2025. The deadline to return economic injury applications is March 27, 2026.

    ###

    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: Markey, Cantwell File Amendment to Strip 5-Year AI Moratorium from GOP Reconciliation Bill as Opposition to Blackburn-Cruz “Compromise” Grows

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (June 30, 2025) – As opposition to the new Blackburn-Cruz five-year AI moratorium “compromise” continues to grow, Senator Edward J. Markey (D-Mass.) and Senator Maria Cantwell (D-Wash.), Ranking Member of the Senate Committee on Commerce, Science and Transportation filed an amendment to strip the entire provision from the Republican budget reconciliation bill.
    “The Blackburn-Cruz so-called compromise is a wolf in sheep’s clothing,” said Senator Edward J. Markey. “Despite Republican efforts to hide the true impact of the AI moratorium, the language still allows the Trump administration to use federal broadband funding as a weapon against the states and still prevents states from protecting children online from Big Tech’s predatory behavior. Republicans are selling out our kids and local communities — all to line the pockets of Big Tech billionaires. I am proud to partner with Ranking Member Cantwell on an amendment to strip this dangerous language.”
    “The Blackburn-Cruz amendment does nothing to protect kids or consumers,” Sen. Cantwell said earlier today. “It’s just another giveaway to tech companies. This provision gives AI and social media a brand-new shield against litigation and state regulation. This is Section 230 on steroids. And when Howard Lutnick has the authority to force states to take this deal or lose all of their BEAD funding, consumers will find out just how catastrophic this deal is.”
    While the “compromise” language adds child safety and other “generally applicable laws” to its list of purported exemptions, the standard is so vague that Big Tech companies would challenge nearly every consumer protection, kids online safety or privacy protection law in court as “overly burdensome.” It would also impact the thousands of pending lawsuits against social media companies’ harmful algorithms.

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Executive Board Completes the Second Review under the Extended Credit Facility Arrangement for Togo

    Source: IMF – News in Russian

    June 30, 2025

    • The IMF Executive Board today completed the second review under the Extended Credit Facility (ECF) arrangement for Togo, allowing the authorities to draw about SDR 44.0 million (about US$ 60.5 million). The Executive Board approved the 42-month ECF arrangement in March 2024 and concluded the first review in December 2024.
    • Growth has remained robust, and inflation has continued to slow. The medium-term economic outlook is favorable, with sustained robust growth, but elevated risks remain.
    • Implementation of the IMF-supported program has been broadly satisfactory: the authorities met all quantitative targets at end-December 2024 except for the performance criterion on the fiscal balance, and they have met all but one structural benchmark due since the completion of the first ECF review.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the second review of the Extended Credit Facility (ECF) arrangement for Togo. The Board’s decision enables the immediate disbursement of about SDR 44.0 million (about US$ 60.5 million), which will be used for budget support. The ECF-arrangement provides overall financing of SDR 293.60 million (about US$ 403.4 million) on favorable terms.

    The IMF approved the ECF arrangement in March 2024 to help the authorities address the legacies of shocks experienced since 2020, notably the COVID pandemic and the increase in global food and fuel prices. The Togolese authorities were able to lessen the impacts of these shocks on the Togolese population, but this came at the price of large fiscal deficits and a rapidly rising public debt burden. The IMF-supported government program aims to (i) make growth more inclusive while strengthening debt sustainability, and (ii) implement structural reforms to support growth and limit fiscal and financial sector risks. The IMF Executive Board completed the first ECF review in December 2024.  

    The medium-term outlook is broadly favorable, with continued robust growth. Economic growth reached an estimated 5.3 percent in 2024 and is projected at 5.2 percent in 2025 and 5.5 percent per year thereafter, according to IMF staff projections, barring major adverse shocks. Headline inflation eased to 2.6 percent in April 2025 and core inflation (which excludes the prices of energy and fresh products) fell to 1.3 percent (annual averages).

    However, the outlook is subject to high risks. In particular, insecurity from the presence of terrorist groups at the country’s northern border continues, putting pressure on spending. The authorities face challenging trade-offs between the need to achieve fiscal consolidation to lower the debt burden and the need to maintain security, enhance inclusion, and support growth.

    Implementation of the IMF-supported program has been broadly satisfactory. The authorities met all quantitative targets at end-December 2024 except for the performance criterion on the fiscal balance. A notable success has been that the authorities raised tax revenue in 2024 as planned and pushed non-tax revenue beyond expectations. At the same time, higher-than-budgeted spending pushed debt higher. The authorities also met all but one structural benchmark due since the completion of the first ECF review, thanks to public financial management and banking sector reforms.

    At the conclusion of the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director, and Acting Chair, made the following statement: 

    “The authorities have implemented the IMF-supported program in an overall satisfactory manner in an environment marked by continued security challenges, tight financing conditions, and elevated global uncertainty. Among other achievements, the authorities mobilized tax revenue in line with targets, while non-tax revenue exceeded projections.

    “Nonetheless, progress on fiscal consolidation has been slower than programmed due to operations the authorities recorded below the line, resulting in faster-than-expected debt accumulation. The authorities’ efforts to address this development, in particular the publication of an innovative note on budget execution and debt accumulation, are welcome.

    “Against this background, the authorities are encouraged to redouble their efforts at fiscal consolidation while preserving growth and strengthening inclusion. The IMF approves the authorities’ request for a limited relaxation of the fiscal deficit target for 2024 and for delaying the goal of lowering the present value of debt below 55 percent of GDP by one year, to 2027. These modifications appropriately balance the need to respond to security threats against the need to strengthen debt sustainability. 

    “Further, the authorities are encouraged to continue efforts to enhance revenue while making taxation more efficient, supported by a timely elaboration of a medium-term revenue mobilization strategy. Reforms to improve the efficiency of spending and strengthen the effectiveness of the social safety net, including phasing out fuel subsidies, will also be important. Further, it will be important to strengthen electricity and water provision, including raising tariffs to ensure cost recovery in combination with measures to protect the most vulnerable.

    “The IMF welcomes the authorities’ efforts to reduce financial sector and fiscal risks by recapitalizing the remaining state-owned bank, which have boosted the bank’s compliance with regulatory norms. Further efforts will be needed to address the remaining breaches of regulatory norms and to restructure the bank’s operations to ensure its stability and profitability.

    “Finally, efforts to strengthen governance will be critical for nurturing the business environment and supporting sustainable growth. The authorities’ commitment to publishing the planned Governance Diagnostic Assessment is very welcome. The authorities should also align asset and income declarations regime with international standards.”

    Togo: Selected Economic and Financial Indicators, 2023–27
     

    2023

    2024

    2025

    2026

    2027
     

    Estimates

    Projections

    Real GDP

    5.6

    5.3

    5.2

    5.5

    5.5

    Real GDP per capita

    3.1

    2.8

    2.7

    3.0

    3.0

    GDP deflator

    2.9

    2.2

    2.0

    2.0

    2.0

    Consumer price index (annual average)

    5.3

    2.9

    2.3

    2.0

    2.0

    GDP (CFAF billions)

    5,507

    5,927

    6,360

    6,843

    7,364

    Exchange rate CFAF/US$ (annual average level)

    606

    …

    …

    …

    …

    Real effective exchange rate (appreciation = –)

    -8.2

    …

    …

    …

    …

    Terms of trade (deterioration = –)

    2.5

    -0.4

    -0.3

    0.9

    0.6
     

    Monetary survey

    		  

    Net foreign assets

    2.0

    1.3

    3.6

    2.4

    2.3

    Net credit to government

    1.2

    8.6

    2.6

    -1.3

    -0.1

    Credit to nongovernment sector

    2.9

    3.6

    1.4

    7.4

    7.0

    Broad money (M2)

    6.5

    8.5

    7.3

    7.6

    7.6

    Velocity (GDP/end-of-period M2)

    2.0

    2.0

    2.0

    2.0

    2.0
     

    Investment and savings

    		  

    Gross domestic investment

    28.0

    26.8

    25.6

    24.4

    25.3

    Government

    11.5

    10.1

    8.5

    7.1

    7.8

    Nongovernment

    16.5

    16.7

    17.1

    17.3

    17.5

    Gross national savings

    24.0

    23.7

    23.2

    23.0

    24.3

    Government

    4.8

    2.7

    4.6

    4.1

    4.8

    Nongovernment

    19.2

    20.9

    18.7

    18.8

    19.5
     

    Government budget

    		          

    Total revenue and grants

    19.8

    19.0

    18.8

    18.5

    19.0

    Revenue

    16.8

    17.0

    16.6

    17.1

    17.6

    Tax revenue

    14.8

    14.9

    15.4

    15.9

    16.4

    Expenditure and net lending

    26.6

    26.4

    22.7

    21.5

    22.0

    Expenditure and net lending (excl. banking sector operations)

    26.6

    25.4

    22.3

    21.5

    22.0

    Primary balance (commitment basis, incl. grants)

    -3.9

    -4.5

    -1.2

    -0.2

    -0.4

    Overall balance (commitment basis, incl. grants, excl. banking sector operations)

    -6.7

    -6.4

    -3.5

    -3.0

    -3.0

    Overall balance (commitment basis, incl. grants)

    -6.7

    -7.4

    -3.9

    -3.0

    -3.0

    Primary balance (cash basis, incl. grants)

    -3.9

    -4.5

    -1.2

    -0.2

    -0.4

    Overall balance (cash basis, incl. grants, excl. banking sector operations)

    -6.7

    -6.4

    -3.5

    -3.0

    -3.0

    Overall balance (cash basis, incl. grants)

    -6.7

    -7.4

    -3.9

    -3.0

    -3.0
     

    External sector

    		          

    Current account balance

    -4.0

    -3.2

    -2.3

    -1.4

    -1.0

    Exports (goods and services)

    26.3

    25.5

    25.5

    25.5

    25.7

    Imports (goods and services)

    -37.8

    -35.9

    -34.3

    -32.8

    -32.5

    External public debt1

    26.3

    30.4

    32.8

    32.1

    32.7

    External public debt service (percent of exports)1

    7.7

    10.0

    14.8

    15.0

    8.1

    Domestic public debt2

    42.3

    41.7

    37.5

    36.6

    34.3

    Total public debt3

    68.6

    72.1

    70.2

    68.7

    66.9

    Total public debt (excluding SOEs)4

    67.3

    71.2

    69.6

    68.2

    66.6

    Present value of total public debt3

    62.3

    63.2

    60.0

    57.0

    54.0

    Sources: Togolese authorities and IMF staff estimates and projections.
     

    1 Includes state-owned enterprise external debt.

    2 Includes domestic arrears and state-owned enterprise domestic debt.

    3 Includes domestic arrears and state-owned enterprise debt.

    4 Includes domestic arrears.
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

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

    https://www.imf.org/en/News/Articles/2025/06/30/pr25229-togo-imf-completes-the-second-review-under-the-ecf-arrangement-for-togo

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Submissions: South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic

    Source: The Conversation – Africa – By Steven Matome Mathetsa, Senior Lecturer at the African Energy Leadership Centre, Wits Business School, University of the Witwatersrand

    South Africa’s state-owned electricity company, Eskom, has applied to the National Energy Regulator of South Africa to approve a 36.1% electricity price hike from April 2025, a 11.8% price increase in 2026 and an 9.1% increase in 2027. Steven Mathetsa teaches and researches sustainable energy systems at the University of the Witwatersrand’s African Energy Leadership Centre. He explains some of the problems with the planned tariff increase.

    Why such a big hike?

    Eskom says the multi-year price increase is because of the need to move closer a cost-reflective tariff that reflects the actual costs of supplying electricity.

    However, Eskom’s electricity tariff increases have been exorbitant for several years – an 18% increase in 2023 and a 13% increase in 2024. This is a price increase far above inflation, which is currently at 4.4%.

    Some companies have installed their own generation capacity, and individuals have moved to rooftop solar systems. As a result electricity sales have fallen by about 2% , resulting in a drop in revenue.

    There’s a knock on effect for municipalities, the biggest distributors of electricity, which have also been forced to hike tariffs in line with Eskom’s increases.

    All these costs are passed onto the consumers.

    What will the impact be on South Africans?

    If the hike is approved it will certainly worsen the economic difficulties facing
    South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count.

    Economic growth is also very slow, at a mere 0.6% in 2023. The cost of living is high.

    Exorbitant increases in electricity costs aggravate these problems.

    South Africans and businesses in the country have little choice about where they source their energy. Eskom is still the sole supplier for nearly all the country’s electricity needs. This means that ordinary citizens are likely to continue relying on electricity supplied by Eskom, irrespective of the costs.

    The high costs affect businesses negatively. Large industrial and small, medium, and micro enterprises have all highlighted that costs associated with utilities, mainly electricity, are affecting their sustainability.



    Read more:
    Competition in South Africa’s electricity market: new law paves the way, but it won’t be a smooth ride

    The Electricity Regulation Amendment Act implementation will make major changes to Eskom. The reforms establish an independent Transmission Systems Operator tasked with connecting renewable energy providers to the grid. This will allow the creation of a competitive market where renewable energy providers can sell power to the grid.

    But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises.

    What are the problems?

    The country’s energy frameworks are drafted on the basis of the World Energy Trilemma Index. The index promotes a balanced approach between energy security, affordability, and sustainability. In other words, countries must be able to provide environmentally friendly and reliable electricity that their residents can afford.

    South Africa is currently unable to meet these goals because of different energy policies that do not align, a lack of investment in electricity and dependency on coal-fired power. Electricity is increasingly becoming unaffordable in the country. Although there’s been a recent reprieve from power cuts, security of supply is still uncertain.



    Read more:
    South Africa’s new energy plan needs a mix of nuclear, gas, renewables and coal – expert

    Furthermore, over 78% of the country’s electricity is produced by burning coal. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

    Compounding this problem is that Eskom is financially unstable – it needed R78 billion from the government in debt relief in 2024. For years, there was a lack of effective maintenance on the aging infrastructure.

    The country has made some inroads into improving security of supply. To date, recent interventions have resulted in over 200 days without power cuts. This should be commended. The same focus must be placed on ensuring that electricity remains affordable while giving attention to meeting the goals of the Paris Agreement.

    What needs to change?

    South Africa’s 1998 Energy Policy White Paper and the new Electricity Regulation Amendment Act promote access to affordable electricity. However, they’ve been implemented very slowly. Affordable electricity needs to be taken seriously.

    The question is whether the country’s electricity tariff methodology is flexible enough to accommodate poor South Africans, especially during these challenging economic times.

    In my view, it is not. In its current form, vulnerable communities continue to foot the bill for various challenges confronting Eskom, including financial mismanagement, operational inefficiencies, municipal non-payment, and corruption.

    I believe the following steps should be taken.

    Firstly, South Africa should revise its tariff application methodologies so that consumers, especially unemployed and impoverished people, are protected against exorbitant increases.

    Secondly, the National Energy Regulator of South Africa should strengthen its regulations to ensure its compliance and enforcement systems are effective. For example, Eskom should be held accountable when it does not deliver efficient services or mismanages funds, and be transparent about costs associated with its processes. Municipalities should also be held accountable for non-payment and other technical issues they regularly struggle with. Both affect the revenue of the power utility.



    Read more:
    South Africa’s economic growth affected by mismatch of electricity supply and demand

    Thirdly, the government must make sure that price increases are affordable and don’t hurt the broader economy. It can do this by adjusting its policies to make sure that increases in electricity tariffs are in line with the rate of inflation.

    Fourthly, communities can play a vital role in saving electricity at a household level. This will reduce the country’s overall energy consumption. Furthermore, both small and large businesses should continue to consider alternative energy technologies while implementing energy saving technologies.

    Lastly, the level of free-basic electricity is not sufficient for poor households. Subsidy policies should also be reviewed to allow users access to affordable electricity as their financial situation changes negatively.

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

    – ref. South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic – https://theconversation.com/south-africas-36-1-electricity-price-hike-for-2025-why-the-power-utility-eskoms-request-is-unrealistic-240941

    MIL OSI –

  • MIL-OSI Submissions: Most South African farmers are black: why Trump got it so wrong

    Source: The Conversation – Africa – By Johann Kirsten, Director of the Bureau for Economic Research, Stellenbosch University

    When world leaders engage, the assumption is always that they engage on issues based on verified facts, which their administrative staff are supposed to prepare. Under this assumption, we thought the meeting at the White House on 21 May between South Africa’s president, Cyril Ramaphosa, and US president Donald Trump would follow this pattern.

    Disappointingly, the televised meeting was horrifying to watch as it was based on misrepresenting the reality of life in South Africa.

    Issues of agriculture, farming and land (and rural crime) were central to the discussions. What is clear to us as agricultural economists is that the skewed views expressed by Trump about these issues originate in South Africa. This includes Trump’s statement: “But Blacks are not farmers.”

    In our work as agricultural economists, we have, in many pieces and books (our latest titled The Uncomfortable Truth about South Africa’s Agriculture), tried to present South Africans with the real facts about the political economy policy reforms and structural dimensions of South African agriculture.

    Writing on these matters was necessary given that official data – agricultural census 2017, as well as the official land audit of 2017 – all provide an incomplete picture of the real state and structure of South African agriculture. The reason is that the agricultural census, which is supposed to provide a comprehensive and inclusive assessment of the size and structure of the primary agricultural sector, and the land audit, which was supposed to record the ownership of all land in South Africa, are incomplete in their coverage.

    The incomplete and inaccurate official data provides fertile ground for radical statements by the left and the right – and novices on social media. This is why South Africa has to deal with falsehoods coming from the US. These include Trump’s statement that black people are not farmers in South Africa.

    South Africa is to blame for providing inaccurate data to feed these false narratives.

    The facts presented here should allow a more nuanced interpretation of South Africa’s farm structure. Firstly, there are more black farmers in South Africa than white farmers. And not all white commercial farm operations are “large-scale”, and not all black farmers are “small-scale”, “subsistence” or “emerging”. Most farm operations can be classified as micro, or small in scale.

    This is important so that one doesn’t view South Africa’s agriculture as mainly white farmers. Indeed, we are a country of two agricultures with black farmers mainly at small scale and accounting for roughly 10% of the commercial agricultural output. Still, this doesn’t mean they are not active in the sector. They mainly still require support to expand and increase output, but they are active.

    The facts

    In the wake of the circus in the Oval Office, we were amazed by the total silence of the many farmers’ organisations in South Africa. We have not seen one coming out to reject all of Trump’s claims. The only thing we can deduce from this is that these falsehoods suit the political position of some farmer organisations. But at what cost? Will many of their members be harmed by trade sanctions or tariffs against South Africa? The US is an important market for South Africa’s agriculture, accounting for 4% of the US$13.7 billion exports in 2024.

    When Ramaphosa highlighted the fact that crime, and rural crime in particular, has an impact on all South Africans and that more black people than white people are being killed, Trump’s response was disturbing, to say the least: “But Blacks are not farmers”. This requires an immediate fact check.

    We returned to the text from our chapter in the Handbook on the South African Economy we jointly prepared in 2021. In the extract below, we discuss the real numbers of farmers in South Africa and try to provide a sensible racial classification of farmers to denounce Trump’s silly statement.

    As highlighted earlier, the two latest agricultural censuses (2007 and 2017) are incomplete as they restricted the sample frame to farm businesses registered to pay value added tax. Only firms with a turnover of one million rands (US$55,500) qualify for VAT registration.

    We were able to expand the findings from the censuses with numbers from the 2011 population census and the 2016 community survey to better understand the total number of commercial farming units in South Africa. The Community Survey 2016 is a large-scale survey that happened between Censuses 2011 and 2021. The main objective was to provide population and household statistics at municipal level to government and the private sector, to support planning and decision-making.

    Data from the 2011 population census (extracted from three agricultural questions included in the census) shows that 2,879,638 households out of South Africa’s total population, or 19.9% of all households, were active in agriculture for subsistence or commercial purposes.

    Only 2% of these active households reported an annual income derived from agriculture above R307,000 (US$17,000). This translates into 57,592 households that can be considered commercial farmers, with agriculture as the main or only source of household income. This corresponds in some way with the 40,122 farming businesses that are registered for VAT as noted in the 2017 agricultural census report.

    If we use the numbers from the agricultural census it is evident almost 90% of all VAT-registered commercial farming businesses could be classified as micro or small-scale enterprises. If the farm businesses excluded from the census are accounted for under the assumption that they are too small for VAT registration, then the fact still stands that the vast majority of all farm enterprises in South Africa are small family farms.

    There are, however, 2,610 large farms (with turnover exceeding R22.5 million (US$1.2 million per annum) which are responsible for 67% of farm income and employed more than half the agricultural labour force of 757,000 farm workers in 2017.

    Another way to get to farm numbers is to use the 2016 Community Survey. Using the shares as shown in Table 2, we estimate there are 242,221 commercial farming households in South Africa, of which only 43,891 (18%) are white commercial farmers. (This is very much in line with the VAT registered farmers but also acknowledging the fact that many white farm businesses are not necessarily registered for VAT.)

    Let’s consider only the agricultural households with agriculture as their main source of income, surveyed in the 2016 community survey. We end up with a total of 132,700 households, of whom 93,000 (70%) are black farmers. This reality is something that policy makers and farm organisations find very difficult to deal with and it seems that Trump also found this too good to be true.

    We have tried here in a long winded way to deal with farm numbers and how to get to a race classification of farmers in South Africa. In the end we trust that we have managed to show that there are more black farmers in South Africa than white farmers. Their share in total output is smaller than that of their white counterparts. The National Agricultural Marketing Council puts black farmers’ share of agricultural production as roughly 10%. But these numbers are also incomplete and largely an undercount.

    It will always be challenging to get to the real number of black farmers’ share of agricultural output as nobody would ever know whether the potato or the cabbage on the shelf came from a farm owned by a black farmer or a white person but operated by a black farmer, for example. As South Africans know, the labour on farms, in pack houses, distribution systems and retail are all black. So, the sweat and hard work of black South African workers are integral to the food supply chain in South Africa.

    Let’s get these facts straight and promote them honestly.

    Wandile Sihlobo is the Chief Economist of the Agricultural Business Chamber of South Africa (Agbiz) and a member of the Presidential Economic Advisory Council (PEAC).

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

    – ref. Most South African farmers are black: why Trump got it so wrong – https://theconversation.com/most-south-african-farmers-are-black-why-trump-got-it-so-wrong-257668

    MIL OSI –

  • MIL-OSI Submissions: Oasis are on the road again. But has the ticket scandal spelled the end of dynamic pricing?

    Source: The Conversation – UK – By Jonathan Fry, Lecturer in Business and Management, Aberystwyth University

    When the Oasis reunion tour was announced last summer, there was a scramble to get hold of tickets. Very quickly, there followed another scramble – to understand a phenomenon known as “dynamic pricing”. This is the practice of pricing one product or service differently for different customers. Prices are adjusted according to supply and demand and can also be determined by things like the timing of the purchase.

    But last summer, this seemingly opaque pricing structure left many fans angry, confused and lashing out at the band themselves.

    Despite being generally accepted in other industries, for example, for airline and train tickets, the use of dynamic pricing in the events sector is contentious. It can also pose reputational risks to organisations – and even artists – within the industry. Advocates of dynamic pricing say that prices are fair as they are set by the market.

    Now that Oasis are on the road again, it’s a good time to reflect on how the issue has manifested since the tickets first went on sale back in August 2024. Some tickets increased by £200 above the original price advertised. That significant mark-up did not include any added VIP or hospitality benefits.

    My research focuses on VIP and hospitality event tickets, but also considers broader ticketing issues such as dynamic pricing.

    In 2022, I interviewed a freelance VIP package manager for a highly successful and famous musician. This gave an important insight into the potential for fans to be upset and frustrated on the day of the event if they had misunderstood what they could expect from “platinum” (dynamic) tickets.

    I’ve had instances where somebody turned up at check in and you know, they don’t know what they’ve bought and thought it was a VIP ticket: “How much did you pay for your ticket?”, “Oh, I paid US$1,500…”. So, I’m like: “Okay, well that sounds like it’s … a VIP ticket, the highest-level VIP ticket. But your name isn’t on my list and my list never really lies. But, you know, I’m going to figure it out with the box office. I’ll give you the benefit of the doubt. Go on through to the champagne reception.” So, they do that, and it’s very innocent. Nobody is trying to pull something over anybody.

    I’ve had people come to me. “Oh, the person next to me said that they’ve got a meet and greet after the show, they’ve got a goodie bag. Where’s my goodie bag? They’re literally sat next to me. We’ve compared ticket prices, what’s going on?” I say: “You’ve bought a platinum ticket.” They ask: “What does that mean? What do I get? Surely, I must get something?” I say:“No, you don’t.” It’s horrible.

    And in 2023, I surveyed 312 consumers, of whom only 17% said that they would purchase a dynamically priced ticket. It is likely that, compared to 2025, there was then a lower awareness of dynamic pricing of event tickets.

    Avoiding a backlash

    More recently, research discovered that out of more than 8,000 people surveyed 91% agreed that dynamic pricing should be banned in the UK for events tickets. Some 47% had experienced dynamic pricing when shopping for tickets for live music events – but only 11% felt the concept was communicated to them effectively before they purchased.

    Other research has sought to explain the consumer protection and competition laws that apply to dynamic pricing in the UK. It also provided the context of the Oasis reunion tour dates. The researchers propose recommendations for businesses to consider before adopting dynamic pricing strategies.

    The advice includes making sure that price ranges are clearly available to consumers, and recommends that businesses should be careful in imposing time limits on completing purchases to avoid creating panic in the buyer. Businesses should also make sure the terms of their contracts are easily understood.

    UK regulator, the Competition and Markets Authority (CMA), expressed concern that selling platform Ticketmaster may have breached consumer protection law. It said Ticketmaster had labelled certain seated tickets as “platinum” and sold them for nearly 2.5 times the price of equivalent standard tickets. The CMA also said that Ticketmaster did not properly explain that the tickets offered no additional benefits – and were often located in the same area of the stadium.

    Fans have not had the chance to see Oasis live since 2009.
    Amra Pasic/Shutterstock

    Ticketmaster did not inform consumers that there were two categories of standing tickets at different prices, the CMA said. All the cheaper standing tickets were sold first before the more expensive ones were released. The CMA said this resulted in many fans waiting in a queue without understanding what they would be paying. Then, when they finally had the opportunity to buy tickets, they had to decide on the spot whether to pay a much higher price than they had expected.

    Ticketmaster has since said in a statement: “We strive to provide the best ticketing platform through a simple, transparent and consumer-friendly experience. We welcome the CMA’s input in helping make the industry even better for fans.”

    So what now for dynamic pricing? As an events expert, I believe the industry will continue to use it. But in future, it is likely that consumers will be more savvy and aware of these practices. The industry will have to be led by ideas of best practice – and become much more transparent.

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

    – ref. Oasis are on the road again. But has the ticket scandal spelled the end of dynamic pricing? – https://theconversation.com/oasis-are-on-the-road-again-but-has-the-ticket-scandal-spelled-the-end-of-dynamic-pricing-256533

    MIL OSI –

  • MIL-OSI Submissions: Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation

    Source: The Conversation – Africa – By Solaja Mayowa Oludele, Lecturing, Olabisi Onabanjo University

    Plastic waste in Nigeria presents a dual challenge: cleaning up environmental pollution, and tapping into its economic potential.

    Many countries worldwide face similar challenges. India, for one, has chosen policies that give producers of plastic the responsibility to manage their waste. Rwanda has banned single-use plastic and promoted recycling initiatives led by communities.

    These approaches show it’s possible to address plastic waste issues while fostering economic opportunities.



    Read more:
    Nigeria’s plastic ban: why it’s good and how it can work

    In Nigeria, informal collectors of plastic bottle waste are central to achieving both of these goals. They turn waste into monetary value.

    Previous research has highlighted the environmental and economic benefits of collecting plastic bottle waste. There’s been less attention on what shapes perceptions of waste collection as a business, particularly in Nigeria.

    This article explores that gap, looking at the socio-cultural, economic and environmental influences on those perceptions.

    I am a researcher in the areas of plastic waste management, environmental governance and sustainable development. My work includes studying homes made from recycled plastic bottles in sustainable community-based housing projects.

    Here I’ll be drawing from an exploratory survey conducted in the Ijebu area of Ogun State, Nigeria. Using a questionnaire, we surveyed 86 participants who had at least five years of experience in the plastic waste industry.

    The study identified factors like education, family size, religion, gender, age, and economic dynamics as relevant to participation in the business of plastic bottle waste collection.

    Understanding these influences might help the government to target policies.



    Read more:
    Nigeria is the world’s 2nd biggest plastic polluter: expert insights into the crisis

    Education level and information

    Our study found that participants with higher education levels better understood the economic benefits of plastic waste collection as a systematic form of business. The less educated participants viewed waste collection more as a hand-to-mouth way of earning a living.

    Education programmes built into waste management campaigns could improve recognition of waste collection as a structured and profitable business opportunity and develop a business-like culture among the collectors.

    Parenthood, family size and financial obligations

    Family size was a factor affecting perceptions of plastic bottle waste collection as a business. People with large families saw waste collection as a feasible way to provide food, housing, education and other essentials.

    However, the association of waste collection with income instability highlights the need to formalise and stabilise the sector. Waste collection must be made into a sustainable and reliable business model.

    Religion and cultural norms

    Religion and cultural beliefs emerged as influences from our survey. This was evident in the responses of people who followed African traditional religions and Islam.

    These respondents viewed waste collection as financially feasible, aligning with religious teachings that emphasise resource management and stewardship. For example, Islamic teachings on israf (avoiding wastefulness) and zakat (charity) promote efficient resource use and economic activities that benefit communities.

    Similarly, African traditional religion often emphasises communal responsibility and the sustainable use of resources. These religious principles underscore the cultural acceptance of waste collection as both a practical and a morally guided economic activity.

    Other cultural norms, such as the value placed on communal responsibility and cooperation, also influenced attitudes towards waste collection. In communities with a strong tradition of collective action, where unity and mutual support are highly valued, waste collection is often viewed as a collaborative effort.

    These cultural norms reinforce the idea that waste collection is not just an individual task, but a collective duty that benefits the entire community.



    Read more:
    Informal waste management in Lagos is big business: policies need to support the trade

    Gender dynamics

    Gender plays a role in perception and practice in waste collection. Our survey found that male participants were more likely than female participants to perceive this activity as a business.

    As constrained as they are by lack of access to resources, women are involved in separating and marketing reusable items. Measures like microfinance could increase women’s engagement and business opportunities.

    This would empower women and make waste collection a more inclusive and sustainable business.

    Age and desire to be an entrepreneur

    Perceptions were influenced by age in our study. Younger individuals, up to 14 years old, viewed plastic bottle waste collection as a gateway to employment. Adults aged 33-38 used their experience to get better returns on the business.

    This age-based distinction suggests that different stages of life bring unique motivations and approaches to waste collection.

    Policy actions that support entrepreneurship at various life stages can promote long-term engagement in the industry. This will help formalise waste collection as a sustainable and profitable business.

    Economic and social factors

    Income opportunities affected participants’ experiences more than social factors. Oftentimes, this determined how long they stayed in the business. Those earning more were likelier to reinvest and grow, while lower earnings often led to disengagement or exit. This highlights the importance of financial incentives in shaping waste collection practices.

    Social connections also play a role in fostering collaboration. It facilitates teamwork and the exchange of ideas, and creates a sense of shared purpose and collective outcomes among participants.

    Strengthening these economic and social bonds can formalise plastic bottle waste collection, making it a more efficient and profitable business.



    Read more:
    Waste disposal in Nigeria is a mess: how Lagos can take the lead in sorting and recycling

    Looking ahead

    The study has significant application to Nigeria’s waste management industry. Adding education programmes into waste management programmes will improve people’s business skills.

    Well-coordinated intervention strategies can remove cultural and gender-specific barriers. For instance, cooperatives and microfinance may make waste collection more financially appealing.

    Strategies can also draw on cultural norms to increase community acceptance of waste collection and make it more inclusive.

    Samuel Oludare Awobona, a doctoral student at Osun State University, Osogbo, Nigeria, contributed to this research.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation – https://theconversation.com/nigerias-plastic-bottle-collectors-turn-waste-into-wealth-survey-sheds-light-on-their-motivation-247819

    MIL OSI –

  • MIL-OSI Submissions: Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively

    Source: The Conversation – France – By Alessandro Ghio, Research professor in Accounting, ESCP Business School

    In March 2025, the Association to Advance Collegiate Schools of Business (AACSB), a leading accreditation body, revised its guiding principles. This included removing the phrase “diversity and inclusion” from its accreditation standards and replacing it with the more neutral “community and connectedness”. The decision emerged amid a shifting legal and political climate in the United States, following a wave of executive orders and legislative efforts aimed at dismantling diversity, equity, and inclusion (DEI) initiatives across public institutions.

    For years, diversity and inclusion have been central to how business schools engage with and signal social responsibility, shaping policies on faculty hiring, student recruitment and curricula. The AACSB change is more than a semantic adjustment – it reflects growing pressure on institutions to retreat from politically sensitive terrain.

    Now, business schools – many of which once celebrated DEI as a strategic and ethical imperative – are being forced to re-evaluate. Will they continue to invest in inclusion, or quietly abandon it under mounting institutional and political scrutiny? The answer will have global consequences, not just for higher education, but for the kind of leadership business schools claim to cultivate.

    Accreditation bodies: shaping business schools’ strategies

    The AACSB’s shift could have a significant impact on how business schools engage with diversity. As higher education institutions have embraced neoliberal, market-driven models, fuelled by students’ consumer-like expectations, external validation from accreditation bodies has become essential. Only 136 institutions (about 1% of all business schools) worldwide hold “triple accreditation” – accreditation by the AACSB, EFMD Quality Improvement System (EQUIS), and Association of MBAs (AMBA). This status allows business schools to signal their elite standing and adherence to high international standards – and to charge higher tuition.

    Accreditation offers tangible benefits, including use of prestigious logos, membership in exclusive networks, mutual recognition of academic credits, student exchange opportunities, and access to shared resources and best practices. These benefits shape strategic decisions, as business schools prioritise accreditation to maintain their reputation and competitiveness to attract high-paying students.

    Many institutions even have associate or deputy deans dedicated to fulfilling accreditation requirements. Among these requirements has been the long-standing “diversity checkbox”, which required schools to demonstrate their commitment to diversity. AACSB was not alone in this focus: AMBA, another leading accreditation body that specialises in MBA programmes, annually recognises schools for their diversity efforts and initiatives promoting inclusion.

    Accreditation pressures are compounded by the influence of business school rankings, another powerful driver of institutional priorities. Rankings such as the Financial Times’ business school list include diversity-related indicators, such as gender balance in classrooms, representation of women among faculty, and international faculty diversity. Bloomberg Businessweek’s Best Schools Diversity Index placed US universities George Washington, Howard and Morgan State at the very top in 2024. While these institutions don’t typically rank highly in overall MBA rankings, the diversity index offered them visibility and a competitive edge to attract prospective students.

    With accreditation bodies and business school rankings shaping institutional identities, a key question emerges: will business schools continue to prioritise diversity if structural incentives erode, or will it quietly disappear from the agenda?

    Diversity at a crossroads

    While the language of diversity has become commonplace in business school messaging – “we place inclusion and diversity at the heart of everything we do”; we “engage with DE&I strategically, practically – and of course via forefront research”; we [“want] to encourage and contribute to the conversation on diversity for and with all the students” – many institutions have gone beyond rhetoric, implementing concrete policies to promote diversity across student bodies, faculty recruitment and course content.

    In France, the grandes écoles – often criticised for perpetuating social elitism, as highlighted by sociologist Pierre Bourdieu – have introduced targeted admission pathways for students from disadvantaged socioeconomic backgrounds. In the UK, business schools have begun auditing faculty diversity, particularly in terms of race and ethnicity. In Germany, where women professors remain underrepresented, ongoing efforts seek to address persistent gender imbalances in academic positions.

    These initiatives were not developed in a vacuum. Accreditation standards and external recognition gave institutions the legitimacy and incentive to act. Diversity became part of the strategic fabric – an ethical development, yes, but also a business case aligned with the values that accreditation and rankings rewarded.

    Now, with a major accreditation body stepping back and public discourse increasingly polarised, that alignment is beginning to fracture. In the US, federal support for diversity-related research is shrinking. Facing pressure from the Department of Education to end diversity initiatives or risk losing funding, some universities have already taken action by alternately moving to close DEI offices; removing references to DEI from websites, policies and official materials; or even cancelling a planned celebration of International Women’s Day.
    At least two US schools have either severed or planned to sever links with the PhD Project, a programme founded in 1994 that is devoted to “increasing the number of brilliant educators from all communities”. In Europe, some institutions may quietly reduce their commitments, no longer seeing DEI as worth the political or institutional risk.

    The dilemma is no longer about how to advance diversity – but whether to defend it at all. Business schools must decide: is diversity still central to their mission, or just another line item to be dropped when the pressure mounts?

    If business schools are serious about their social mission, they must continue investing in diversity – not as a symbolic gesture, but as a structural commitment. Diversity, equity and inclusion are not peripheral concerns; they are embedded in frameworks like the Principle of Responsible Management Education and the United Nations Sustainable Development Goals (SDG 5: Gender Equality; SDG 10: Reduced Inequalities) – benchmarks that many institutions cite as central to their values. More than 30 Nordic business schools, all members of AACSB, recently issued a joint statement that diversity remains a core value for them.

    Diversity and knowledge

    Beyond institutional mandates, diversity is foundational to the production of credible knowledge. In Why Trust Science? (2019), historian Naomi Oreskes argues that while “diversity does not heal all epistemic ills”, it plays a crucial role in identifying blind spots and challenging groupthink. Drawing on feminist theorists Sandra Harding and Helen Longino, she shows how epistemic communities that are diverse – and critically engaged – are better positioned to identify and correct biases. In more homogeneous groups, dominant assumptions often go unchallenged, leading to structural oversights that undermine both knowledge and legitimacy.

    At a time when trust in academic institutions is eroding, ensuring diverse perspectives is not just desirable – it is necessary. For business schools, which train future leaders and decision-makers, the stakes are especially high.

    This is a moment not to retreat from diversity, but to reclaim it. Rather than treating it as a politicized liability, schools can reassert it as a core academic and democratic value – a way of remaining relevant, rigorous and responsible. And in a climate where “woke” has become a catch-all insult, schools also have an opportunity to reclaim the term – not as provocation, but as a return to its original meaning: a principled alertness to social realities and structural injustice. The LGBTQI+ community’s reclamation of “queer” as a term of empowerment and resistance against societal norms can point the way.

    By reinforcing their commitment to diversity, business schools can help deepen critical inquiry, rebuild public trust in science and ultimately equip their students for leadership in this fractured world – which they will need to understand in all its complexity.

    Alessandro Ghio ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively – https://theconversation.com/business-schools-are-facing-challenges-to-their-diversity-commitments-they-must-reinforce-them-to-train-leaders-effectively-252988

    MIL OSI –

  • MIL-OSI Submissions: Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively

    Source: The Conversation – France – By Alessandro Ghio, Research professor in Accounting, ESCP Business School

    In March 2025, the Association to Advance Collegiate Schools of Business (AACSB), a leading accreditation body, revised its guiding principles. This included removing the phrase “diversity and inclusion” from its accreditation standards and replacing it with the more neutral “community and connectedness”. The decision emerged amid a shifting legal and political climate in the United States, following a wave of executive orders and legislative efforts aimed at dismantling diversity, equity, and inclusion (DEI) initiatives across public institutions.

    For years, diversity and inclusion have been central to how business schools engage with and signal social responsibility, shaping policies on faculty hiring, student recruitment and curricula. The AACSB change is more than a semantic adjustment – it reflects growing pressure on institutions to retreat from politically sensitive terrain.

    Now, business schools – many of which once celebrated DEI as a strategic and ethical imperative – are being forced to re-evaluate. Will they continue to invest in inclusion, or quietly abandon it under mounting institutional and political scrutiny? The answer will have global consequences, not just for higher education, but for the kind of leadership business schools claim to cultivate.

    Accreditation bodies: shaping business schools’ strategies

    The AACSB’s shift could have a significant impact on how business schools engage with diversity. As higher education institutions have embraced neoliberal, market-driven models, fuelled by students’ consumer-like expectations, external validation from accreditation bodies has become essential. Only 136 institutions (about 1% of all business schools) worldwide hold “triple accreditation” – accreditation by the AACSB, EFMD Quality Improvement System (EQUIS), and Association of MBAs (AMBA). This status allows business schools to signal their elite standing and adherence to high international standards – and to charge higher tuition.

    Accreditation offers tangible benefits, including use of prestigious logos, membership in exclusive networks, mutual recognition of academic credits, student exchange opportunities, and access to shared resources and best practices. These benefits shape strategic decisions, as business schools prioritise accreditation to maintain their reputation and competitiveness to attract high-paying students.

    Many institutions even have associate or deputy deans dedicated to fulfilling accreditation requirements. Among these requirements has been the long-standing “diversity checkbox”, which required schools to demonstrate their commitment to diversity. AACSB was not alone in this focus: AMBA, another leading accreditation body that specialises in MBA programmes, annually recognises schools for their diversity efforts and initiatives promoting inclusion.

    Accreditation pressures are compounded by the influence of business school rankings, another powerful driver of institutional priorities. Rankings such as the Financial Times’ business school list include diversity-related indicators, such as gender balance in classrooms, representation of women among faculty, and international faculty diversity. Bloomberg Businessweek’s Best Schools Diversity Index placed US universities George Washington, Howard and Morgan State at the very top in 2024. While these institutions don’t typically rank highly in overall MBA rankings, the diversity index offered them visibility and a competitive edge to attract prospective students.

    With accreditation bodies and business school rankings shaping institutional identities, a key question emerges: will business schools continue to prioritise diversity if structural incentives erode, or will it quietly disappear from the agenda?

    Diversity at a crossroads

    While the language of diversity has become commonplace in business school messaging – “we place inclusion and diversity at the heart of everything we do”; we “engage with DE&I strategically, practically – and of course via forefront research”; we [“want] to encourage and contribute to the conversation on diversity for and with all the students” – many institutions have gone beyond rhetoric, implementing concrete policies to promote diversity across student bodies, faculty recruitment and course content.

    In France, the grandes écoles – often criticised for perpetuating social elitism, as highlighted by sociologist Pierre Bourdieu – have introduced targeted admission pathways for students from disadvantaged socioeconomic backgrounds. In the UK, business schools have begun auditing faculty diversity, particularly in terms of race and ethnicity. In Germany, where women professors remain underrepresented, ongoing efforts seek to address persistent gender imbalances in academic positions.

    These initiatives were not developed in a vacuum. Accreditation standards and external recognition gave institutions the legitimacy and incentive to act. Diversity became part of the strategic fabric – an ethical development, yes, but also a business case aligned with the values that accreditation and rankings rewarded.

    Now, with a major accreditation body stepping back and public discourse increasingly polarised, that alignment is beginning to fracture. In the US, federal support for diversity-related research is shrinking. Facing pressure from the Department of Education to end diversity initiatives or risk losing funding, some universities have already taken action by alternately moving to close DEI offices; removing references to DEI from websites, policies and official materials; or even cancelling a planned celebration of International Women’s Day.
    At least two US schools have either severed or planned to sever links with the PhD Project, a programme founded in 1994 that is devoted to “increasing the number of brilliant educators from all communities”. In Europe, some institutions may quietly reduce their commitments, no longer seeing DEI as worth the political or institutional risk.

    The dilemma is no longer about how to advance diversity – but whether to defend it at all. Business schools must decide: is diversity still central to their mission, or just another line item to be dropped when the pressure mounts?

    If business schools are serious about their social mission, they must continue investing in diversity – not as a symbolic gesture, but as a structural commitment. Diversity, equity and inclusion are not peripheral concerns; they are embedded in frameworks like the Principle of Responsible Management Education and the United Nations Sustainable Development Goals (SDG 5: Gender Equality; SDG 10: Reduced Inequalities) – benchmarks that many institutions cite as central to their values. More than 30 Nordic business schools, all members of AACSB, recently issued a joint statement that diversity remains a core value for them.

    Diversity and knowledge

    Beyond institutional mandates, diversity is foundational to the production of credible knowledge. In Why Trust Science? (2019), historian Naomi Oreskes argues that while “diversity does not heal all epistemic ills”, it plays a crucial role in identifying blind spots and challenging groupthink. Drawing on feminist theorists Sandra Harding and Helen Longino, she shows how epistemic communities that are diverse – and critically engaged – are better positioned to identify and correct biases. In more homogeneous groups, dominant assumptions often go unchallenged, leading to structural oversights that undermine both knowledge and legitimacy.

    At a time when trust in academic institutions is eroding, ensuring diverse perspectives is not just desirable – it is necessary. For business schools, which train future leaders and decision-makers, the stakes are especially high.

    This is a moment not to retreat from diversity, but to reclaim it. Rather than treating it as a politicized liability, schools can reassert it as a core academic and democratic value – a way of remaining relevant, rigorous and responsible. And in a climate where “woke” has become a catch-all insult, schools also have an opportunity to reclaim the term – not as provocation, but as a return to its original meaning: a principled alertness to social realities and structural injustice. The LGBTQI+ community’s reclamation of “queer” as a term of empowerment and resistance against societal norms can point the way.

    By reinforcing their commitment to diversity, business schools can help deepen critical inquiry, rebuild public trust in science and ultimately equip their students for leadership in this fractured world – which they will need to understand in all its complexity.

    Alessandro Ghio ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively – https://theconversation.com/business-schools-are-facing-challenges-to-their-diversity-commitments-they-must-reinforce-them-to-train-leaders-effectively-252988

    MIL OSI –

  • MIL-OSI Submissions: Pope Francis and Laudato Si’: an ecological turning point for the Catholic Church

    Source: The Conversation – France – By Bernard Laurent, Professeur, EM Lyon Business School

    In Laudato Si’, Pope Francis called for a radical break with consumerist lifestyles. Ricardo Perna/Shutterstock

    On May 24, 2015, Pope Francis signed his encyclical Laudato Si’ – “Praise be to you” in medieval Italian. This letter to Roman Catholic bishops was no half measure: it took many Catholics by surprise with its uncompromising conclusions and call for an in-depth transformation of our lifestyles. In France, it managed to bring together both conservative currents – such as the Courant pour une écologie humaine (Movement for a Human Ecology), created in 2013 – and more open-minded Catholic intellectuals such as Gaël Giraud, a Jesuit and author of Produire plus, polluer moins : l’impossible découplage ? (Produce more, Pollute Less: the Impossible Decoupling?).

    The Pope was taking a cue from his predecessors. Benedict XVI, John Paul II and Paul VI had also expressed concern about the dramatic effects of an abusive exploitation of nature on humanity:

    “Man is suddenly becoming aware that by an ill-considered exploitation of nature he risks destroying it and becoming in his turn the victim of this degradation.”

    What does Pope Francis’s encyclical teach us? And how does it reflect the Catholic Church’s vision, and his own?


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    The “green” pope

    In the text, Pope Francis describes a situation in which the environment is deteriorating rapidly:

    “There is […] pollution that affects everyone, caused by transport, industrial fumes, substances which contribute to the acidification of soil and water, fertilizers, insecticides, fungicides, herbicides and agrotoxins in general.” (§-20)

    Laudato Si’ was published by the Vatican on June 18, 2015, a few months prior to the Paris climate conference. For the “green” pope, the aim was to raise public awareness around the challenges of global warming by creating a relational approach that included God, human beings and the Earth. It was the first time an encyclical had been devoted wholly to ecology.

    In it, the Pope voiced his concern about the effects of global warming:

    “Warming has effects on the carbon cycle. It creates a vicious circle which aggravates the situation even more, affecting the availability of essential resources like drinking water, energy and agricultural production in warmer regions, and leading to the extinction of part of the planet’s biodiversity.” (§-24)

    Criticizing a “technocratic paradigm”

    Since Pope Leo XIII’s Rerum Novarum, the various social encyclicals have consistently rejected the liberal idea of a society solely regulated by the smooth functioning of the market. The French sociologist of religion Émile Poulat summed up the Church’s position perfectly in 1977 in his book Église contre bourgeoisie. Introduction au devenir du catholicisme actuel, in which he writes that the Church “never agreed to abandon the running of the world to the blind laws of economics.”

    In 2015, Pope Francis rejected technical solutions that would not truly be useful, as well as the belief in the redeeming virtues of a self-regulating market. He accused “the technocratic paradigm” of dominating humankind by subordinating the economic and political spheres to its logic (§-101). His comments are reminiscent of the unjustly forgotten French Protestant philosopher Jacques Ellul and his idea of a limitless “self-propulsion” of technology, which has become the alpha and omega of our societies.

    For Jacques Ellul, technology is anything but neutral since it represents genuine power driven by its own movement.
    Wikimedia, CC BY-SA

    The pope’s charge against the supposed virtues of the market was spectacular. Among others, he criticized the following:

    • overconsumption in developed countries:

    “Since the market tends to promote extreme consumerism in an effort to sell its products, people can easily get caught up in a whirlwind of needless buying and spending.” (§-203);

    • the glorification of profit and a self-regulating market:

    “Some circles maintain that current economics and technology will solve all environmental problems.” (§-109);

    • the hypertrophy of speculative finance:

    “Politics must not be subject to the economy, nor should the economy be subject to the dictates of an efficiency-driven paradigm of technocracy.” (§-189);

    • the unequal distribution of wealth in the world:

    “In fact, the deterioration of the environment and of society affects the most vulnerable people on the planet: […] the gravest effects of all attacks on the environment are suffered by the poorest.” (§-48);

    • the unequal levels of development between countries, leading Francis to speak of an “ecological debt” owed by rich countries to the least developed ones (§-51).

    Social justice and shrinking growth

    In Francis’s words, the goals of saving the planet and social justice go hand in hand. His approach is in keeping with the work of the [economist Louis-Joseph Lebret, a Dominican, who in 1941 founded the association Économie et humanisme. Father Lebret wanted to put the economy back at the service of humankind, and work with the least economically advanced countries by championing an approach based on the virtues of local communities and regional planning.

    Pope Francis, for his part, is calling for a radical break with the consumerist lifestyles of rich countries, while focusing on the development of the poorest nations (§-93). In Laudato Si’, he also wrote that developed countries’ responses seemed insufficient because of the economic interests at stake (§-54).

    This brings us back to the principle of the universal destination of goods – the organizing principle of property defended by the Catholic Church’s social doctrine, which demands that goods be distributed in such a way as to enable every human being to live in dignity.

    In addition to encouraging the necessary technical adjustments and sober individual practices, Pope Francis is urging citizens in developed countries not to be content with half measures deemed largely insufficient. Instead, he is calling for people to make lifestyle changes in line with the logic of slowing growth. The aim is to enable developing countries to emerge from poverty, while sparing the environment.

    “Given the insatiable and irresponsible growth produced over many decades, we need also to think of containing growth by setting some reasonable limits and even retracing our steps before it is too late. […] That is why the time has come to accept decreased growth in some parts of the world, in order to provide resources for other places to experience healthy growth.” (§ -193).

    Nearly 10 years on, Laudato Si’ resonates fully with our concerns. In the United States, Vice President JD Vance and Secretary of State Marco Rubio, who both identify as Catholic, would be well advised to read it anew.

    Bernard Laurent is a member of the CFTC and of the IRES Scientific Council

    – ref. Pope Francis and Laudato Si’: an ecological turning point for the Catholic Church – https://theconversation.com/pope-francis-and-laudato-si-an-ecological-turning-point-for-the-catholic-church-253977

    MIL OSI –

  • MIL-OSI Submissions: Pope Francis and Laudato Si’: an ecological turning point for the Catholic Church

    Source: The Conversation – France – By Bernard Laurent, Professeur, EM Lyon Business School

    In Laudato Si’, Pope Francis called for a radical break with consumerist lifestyles. Ricardo Perna/Shutterstock

    On May 24, 2015, Pope Francis signed his encyclical Laudato Si’ – “Praise be to you” in medieval Italian. This letter to Roman Catholic bishops was no half measure: it took many Catholics by surprise with its uncompromising conclusions and call for an in-depth transformation of our lifestyles. In France, it managed to bring together both conservative currents – such as the Courant pour une écologie humaine (Movement for a Human Ecology), created in 2013 – and more open-minded Catholic intellectuals such as Gaël Giraud, a Jesuit and author of Produire plus, polluer moins : l’impossible découplage ? (Produce more, Pollute Less: the Impossible Decoupling?).

    The Pope was taking a cue from his predecessors. Benedict XVI, John Paul II and Paul VI had also expressed concern about the dramatic effects of an abusive exploitation of nature on humanity:

    “Man is suddenly becoming aware that by an ill-considered exploitation of nature he risks destroying it and becoming in his turn the victim of this degradation.”

    What does Pope Francis’s encyclical teach us? And how does it reflect the Catholic Church’s vision, and his own?


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    The “green” pope

    In the text, Pope Francis describes a situation in which the environment is deteriorating rapidly:

    “There is […] pollution that affects everyone, caused by transport, industrial fumes, substances which contribute to the acidification of soil and water, fertilizers, insecticides, fungicides, herbicides and agrotoxins in general.” (§-20)

    Laudato Si’ was published by the Vatican on June 18, 2015, a few months prior to the Paris climate conference. For the “green” pope, the aim was to raise public awareness around the challenges of global warming by creating a relational approach that included God, human beings and the Earth. It was the first time an encyclical had been devoted wholly to ecology.

    In it, the Pope voiced his concern about the effects of global warming:

    “Warming has effects on the carbon cycle. It creates a vicious circle which aggravates the situation even more, affecting the availability of essential resources like drinking water, energy and agricultural production in warmer regions, and leading to the extinction of part of the planet’s biodiversity.” (§-24)

    Criticizing a “technocratic paradigm”

    Since Pope Leo XIII’s Rerum Novarum, the various social encyclicals have consistently rejected the liberal idea of a society solely regulated by the smooth functioning of the market. The French sociologist of religion Émile Poulat summed up the Church’s position perfectly in 1977 in his book Église contre bourgeoisie. Introduction au devenir du catholicisme actuel, in which he writes that the Church “never agreed to abandon the running of the world to the blind laws of economics.”

    In 2015, Pope Francis rejected technical solutions that would not truly be useful, as well as the belief in the redeeming virtues of a self-regulating market. He accused “the technocratic paradigm” of dominating humankind by subordinating the economic and political spheres to its logic (§-101). His comments are reminiscent of the unjustly forgotten French Protestant philosopher Jacques Ellul and his idea of a limitless “self-propulsion” of technology, which has become the alpha and omega of our societies.

    For Jacques Ellul, technology is anything but neutral since it represents genuine power driven by its own movement.
    Wikimedia, CC BY-SA

    The pope’s charge against the supposed virtues of the market was spectacular. Among others, he criticized the following:

    • overconsumption in developed countries:

    “Since the market tends to promote extreme consumerism in an effort to sell its products, people can easily get caught up in a whirlwind of needless buying and spending.” (§-203);

    • the glorification of profit and a self-regulating market:

    “Some circles maintain that current economics and technology will solve all environmental problems.” (§-109);

    • the hypertrophy of speculative finance:

    “Politics must not be subject to the economy, nor should the economy be subject to the dictates of an efficiency-driven paradigm of technocracy.” (§-189);

    • the unequal distribution of wealth in the world:

    “In fact, the deterioration of the environment and of society affects the most vulnerable people on the planet: […] the gravest effects of all attacks on the environment are suffered by the poorest.” (§-48);

    • the unequal levels of development between countries, leading Francis to speak of an “ecological debt” owed by rich countries to the least developed ones (§-51).

    Social justice and shrinking growth

    In Francis’s words, the goals of saving the planet and social justice go hand in hand. His approach is in keeping with the work of the [economist Louis-Joseph Lebret, a Dominican, who in 1941 founded the association Économie et humanisme. Father Lebret wanted to put the economy back at the service of humankind, and work with the least economically advanced countries by championing an approach based on the virtues of local communities and regional planning.

    Pope Francis, for his part, is calling for a radical break with the consumerist lifestyles of rich countries, while focusing on the development of the poorest nations (§-93). In Laudato Si’, he also wrote that developed countries’ responses seemed insufficient because of the economic interests at stake (§-54).

    This brings us back to the principle of the universal destination of goods – the organizing principle of property defended by the Catholic Church’s social doctrine, which demands that goods be distributed in such a way as to enable every human being to live in dignity.

    In addition to encouraging the necessary technical adjustments and sober individual practices, Pope Francis is urging citizens in developed countries not to be content with half measures deemed largely insufficient. Instead, he is calling for people to make lifestyle changes in line with the logic of slowing growth. The aim is to enable developing countries to emerge from poverty, while sparing the environment.

    “Given the insatiable and irresponsible growth produced over many decades, we need also to think of containing growth by setting some reasonable limits and even retracing our steps before it is too late. […] That is why the time has come to accept decreased growth in some parts of the world, in order to provide resources for other places to experience healthy growth.” (§ -193).

    Nearly 10 years on, Laudato Si’ resonates fully with our concerns. In the United States, Vice President JD Vance and Secretary of State Marco Rubio, who both identify as Catholic, would be well advised to read it anew.

    Bernard Laurent is a member of the CFTC and of the IRES Scientific Council

    – ref. Pope Francis and Laudato Si’: an ecological turning point for the Catholic Church – https://theconversation.com/pope-francis-and-laudato-si-an-ecological-turning-point-for-the-catholic-church-253977

    MIL OSI –

  • MIL-OSI Submissions: Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas

    Source: The Conversation – France – By Matteo Winkler, Professeur associé en droit et fiscalité, HEC Paris Business School

    Recent months have seen a dramatic shift in US policies on diversity, equity, and inclusion (DEI). These changes carry deep economic consequences. President Donald Trump’s executive orders aim to ban DEI initiatives in federal agencies and contractors, and private companies have felt pressure to weaken or drop their DEI programmes. Trump has framed what was once a corporate safeguard against discrimination as “illegal and immoral”, marking a stark reversal in legal and business norms. Federal judges have blocked some of Trump’s orders, or elements of them, and some legal processes are ongoing.

    Transgender rights have become a lightning rod in this shifting landscape. The barrage of federal directives seeks to challenge – or outright eliminate – protections in areas ranging from health care to education to the military. Beyond the immediate harm to trans individuals, these policies pose threats to multinational companies that have long defended inclusive workplace values. Their leaders must now navigate a cultural minefield where staying silent risks public backlash, while openly supporting trans employees can invite legal and political complications. The business repercussions of this moral issue could affect everything from brand reputation to talent retention.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    The economic imperative of DEI initiatives

    There is a growing ensemble of research suggesting that DEI policies are not just nice-to-have but a corporate imperative. This year, the World Economic Forum reported that organizations that include DEI in their core business strategies improve performance, innovation and employee satisfaction. These findings are in line with other studies, which have consistently demonstrated that inclusive workplaces not only attract top talent but perform better financially and have higher returns on assets and net income.

    With regard to people identifying as LGBTI+, a 2024 report by the Organization for Economic Co-operation and Development highlighted that inclusive policies enable LGBTI+ individuals to achieve their full employment and productivity potential, benefiting both their well-being and society at large. Moreover, according to Open for Business, a think tank whose mission is making a case for LGBTQ+ inclusion in private and public settings, companies with “larger LGBTQ+ workforce benefit from diverse perspectives but also foster environments where innovation and productivity thrive”. It has also been found that human rights violations against LGBTI+ people diminish economic output at the micro level, suggesting that inclusive societies are more likely to experience robust economic growth.



    À lire aussi :
    Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively

    Research has also shown that trans-inclusive business practices have long been associated with innovation, employee satisfaction and market competitiveness. Companies that provide gender-neutral bathroom access, introduce the inclusive use of pronouns and support employees’ gender transitions have been proven to foster relational authenticity in the workplace.

    Discrimination and exclusion, by contrast, not only harm individuals but also impede economic growth by limiting the available talent pool and reducing overall productivity. In September 2024, the American Civil Liberties Union (ACLU) reported that “laws and policies designed to restrict or prevent access or supports for transgender and nonbinary people” endanger LGBTQ+ individuals and their allies, leading to increased fear, lack of safety and a rise in anti-LGBTQ+ violence. More generally, these laws and policies can also deter businesses from investing in regions perceived as discriminatory. Also in September, the Movement Advancement Project identified that the lack of legal protection against discrimination contributes to economic instability for LGBTQ+ families, which can lead to wage gaps, job insecurity and reduced access to benefits, ultimately contributing to reduced consumer spending and lower economic participation.

    Language targeting trans rights and visibility

    Despite the benefits of DEI initiatives, the current US administration has sought to enact several policies aimed at dismantling them, resulting in organizations, both public and private, to suspend funding for DEI and outreach programmes. In Trump’s executive orders, anything – policy, programme or initiative – related to or benefitting trans people in access to healthcare, academic research, scientific inquiry, school policies, personal safety, participation in sports, and military service is now rejected as “gender ideology extremism”.

    Targeting sports, education and the military is functional to an ideological battle aimed at erasing spaces where trans people are most vulnerable. These spaces are also formative arenas in shaping national identity and the public perception of DEI initiatives. When they become politicized, they can also affect how businesses frame their values, manage risks and engage with their different stakeholders.



    À lire aussi :
    Anti-DEI guidance from Trump administration misinterprets the law and guts educators’ free speech rights

    The anti-trans executive orders begin by redefining the term “sex” for interpretations of federal law. According to the text of “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to Federal Government”, a person is either male or female, which is determined by their reproductive cells at conception – a definition in which biology takes precedence over individual rights and legal protections. “Keeping Men Out of Women’s Sports” weaponizes this “biological truth” by threatening to cut off federal funds to schools that allow trans athletes to participate in them. “Prioritizing Military Excellence and Readiness” equates being transgender with medical or physical incapacity despite no evidence suggesting that trans service members negatively impact military readiness. “Ending Radical Indoctrination in K-12 Schooling” seeks to prevent schools from teaching about gender identity, which would strip trans youth of critical support systems. And “Protecting Children from Chemical and Surgical Mutilation” describes gender-affirming healthcare as “destructive”.

    The ripple effects of this anti-trans rhetoric extend into the private sector, compelling businesses to reevaluate their DEI strategies in fear of backlash or scrutiny. Even before the last US presidential election, companies such as Ford, Harley-Davidson and Lowe’s withdrew their participation in the Corporate Equality Index, a national benchmarking tool on corporate policies and practices related to LGBTQ+ workplace equality. In the wake of Trump’s anti-DEI and anti-trans orders, organizers of various Pride events in the US and Canada learned that some corporations, including longtime sponsors, had decided not to fund them. And according to the New York Times, some companies erased language and terms related to DEI from annual reports filed this year, including Dow Chemical, whose reference to LGBTQ+ employee resource groups disappeared from its public documents.

    Navigating between inclusive values and anti-DEI pressure

    Three patterns seem to be emerging on how companies are navigating the tension between values that are inclusive of LGBTI+ people and the growing pressure to scrub DEI commitments within the US context. For the moment, these patterns do not reflect formalized strategies but adaptive responses to an environment that has grown in complexity in a very short time. Some corporate actions reflect deliberate strategy aimed at protecting global consistency, while others appear more reactive, shaped by local market pressures.

    The first pattern involves establishing a sort of internal firewall between US and international operations. Banco Santander provides a clear example of this approach. Thus far, it has maintained global DEI commitments such as tying executive bonuses to increased gender equality in leadership. This group stated that such targets would not be applied to countries where governmental policies target DEI. In this pattern, DEI programmes are maintained abroad but are dismantled in the US to minimize political exposure in the latter.

    The second approach, observed at accounting firm Deloitte, is a cultural split between US operations and those overseas: while entities under the same global brand may still share data, practices, or strategic frameworks internally, they now adopt publicly distinct positions on DEI. Deloitte UK has remained vocal on its DEI commitments, highlighting the cultural and political fault lines that multinationals must now navigate.

    The third approach is a retraction of DEI altogether. Target offers a striking example. In 2023, under increased political and consumer pressure, the company rolled back some of its LGBTQ+ inclusion efforts by reducing the number of Pride-related items for sale. In 2025, four days after Trump’s inauguration, Target announced it would “end its three-year DEI goals”, cease reporting to the Corporate Equality Index and “end a program focused on carrying more products from Black- or minority-owned businesses”, as reported by CNBC. The moves resulted in considerable public criticism, and more notably, coincided with a marked drop in foot traffic – “nearly 5 million fewer visits” over a four-week period – revealing reputational and financial risks associated with the abandoning of DEI policies. By contrast, bulk retailer Costco, which said three days after the inauguration that its shareholders voted against a proposal seen as unfriendly to the company’s DEI programmes, “saw nearly 7.7 million more visits” during that same stretch.



    À lire aussi :
    A boycott campaign fuels tension between Black shoppers and Black-owned brands – evoking the long struggle for ‘consumer citizenship’

    In light of the evidence, it is clear that undermining DEI initiatives poses substantial risks – not just to human dignity, but to economic competitiveness. Businesses and policymakers must recognize that DEI is not merely a social or ethical imperative but a core strategy for growth and innovation. By fostering environments where all individuals can thrive, we unlock the full potential of our workforce and ensure sustainable economic growth.

    Conversely, discriminatory policies contribute to social instability, brain drain and economic stagnation. In the United States, the rollback of DEI initiatives and the marginalization of transgender individuals threaten to erode the nation’s ability to uphold human rights and maintain business competitiveness. History demonstrates that exclusionary policies ultimately harm societies rather than strengthen them. The question remains whether the US can afford to sacrifice social stability and economic growth in pursuit of ideological battles. The evidence suggests that it cannot.

    Matteo Winkler is a member of the Open for Business Academic Committee. He has received funding from the HEC Foundation.

    Marcelle Laliberté is a member of Women in Aerospace Europe and HEC We&Men, and a contributor to the UN`s High Advisory Board on Governing AI for Humanity.

    – ref. Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas – https://theconversation.com/threatening-diversity-threatening-growth-the-business-effects-of-trumps-anti-dei-and-anti-trans-agendas-255040

    MIL OSI –

  • MIL-OSI Submissions: ‘Piracy’ to legitimacy: how companies like French ride-hailing platform Heetch can make their mark

    Source: The Conversation – France – By Maxime Massey, Docteur en Sciences de Gestion & Innovation – Chercheur affilié à la Chaire Improbable, ESCP Business School

    The 2024 arrest and subsequent release of activist Paul Watson, the founder of the NGO Sea Shepherd that fights to protect ocean biodiversity, highlighted a division between two opposing camps. There are those who want to stay true to the NGO’s DNA by continuing to practice strong activism against poaching states, and those who believe there is too much at stake in remaining confrontational and advocate instead for more measured actions to institutionalize the NGO. This opposition reflects the dilemma faced by many “pirate organizations,” a concept introduced by scholars Rudolph Durand and Jean-Philippe Vergne.

    What are pirate organizations?

    Pirate organizations are defined by three key characteristics.

    • They develop innovative activities by exploiting legal loopholes;

    • they defend a “public cause” to support neglected communities, who in turn support them;

    • by introducing innovations that address specific social needs, they disrupt monopolies and contribute to transforming economic and social systems.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    However, to do these things effectively, pirate organizations must become legitimate. An organization is considered legitimate when its various audiences (customers, media, the state, etc.) perceive its actions as desirable according to prevailing values, norms and laws. Legitimacy is built through a process known as legitimation. For pirate organizations, this is particularly challenging, as they are often viewed as both illegal and illegitimate by the state and established industry players. These actors apply pressure to hinder legitimation. So how do pirate organizations build their legitimacy? We examined this question through the emblematic case of Heetch.

    A case study of a pirate organization

    Heetch is a French urban transport start-up launched in 2013 when its founders observed that “young people in Paris and its suburbs struggle to travel at night due to a lack of suitable options.” They decided to create a ride-hailing platform connecting private drivers with passengers.

    This business model, based on the principles of the “sharing economy,” encroached on the monopoly of taxis and the regulated sector of professional chauffeur-driven vehicles (VTCs). Despite challenges, Heetch gradually built its legitimacy through three distinct phases, responding to pressures in different ways.

    Stage 1: ‘clandestine pragmatism’ (2013-2015)

    When Heetch launched in 2013, a conflict was brewing in the urban transport sector. On one side, there were new applications for VTC services (such as Uber) and for private driver platforms (such as UberPop and Heetch); on the other, there were traditional taxis and their booking departments (such as G7). The latter, along with government authorities, began exerting pressure to shut down the apps, with Uber receiving most of the media attention.

    During this phase, Heetch adopted a strategy of “clandestine pragmatism.” The start-up avoided direct confrontations and stayed “under the radar” of the media. This approach is similar to “bootlegging” – concealing an innovative activity during its early stages. Heetch built a pragmatic legitimacy among its immediate audience using informal techniques such as word-of-mouth. However, its legitimacy remained limited, because it operated outside media scrutiny and without state approval.

    Stage 2: ‘subversive activism’ (2015-2017)

    In June 2015, taxi drivers organized massive protests against the “unfair competition” posed by new ride-hailing apps. The Paris police issued a ban on UberPop-like applications, including Heetch’s.

    While Uber shut down UberPop, Heetch exploited a legal loophole – its name was not explicitly mentioned in the ban – and continued operations. In response, the state cracked down on Heetch: around 100 drivers were placed in police custody and the founders were summoned to court, facing charges of “illegal facilitation of contact” with drivers, “complicity in unlawful taxi operations” and “misleading commercial practices.”

    Heetch reacted by engaging in “subversive activism.” The founders spoke out in the media to defend their service, emphasizing its public utility, particularly for young suburban residents needing nighttime mobility. The start-up generated buzz by releasing a satirical video featuring altered images of political figures in their youth. Heetch leveraged its pragmatic legitimacy, already established within its community, to gain media legitimacy among a broader audience of people, including journalists and policymakers. The organization gained public recognition, but also faced increasing legal battles.

    Stage 3: ‘tempered radicalism’ (2017-present)

    In March 2017, a court ruled against Heetch, deeming its operations illegal. Heetch temporarily suspended its service but relaunched two weeks later with a new business model employing professional drivers. Two months later, Heetch attempted to reintroduce private drivers, but, after facing additional legal action, it abandoned this approach after six months to focus exclusively on legal transportation services.

    During this phase, Heetch practised “tempered radicalism.” The company integrated into the system while continuing its “fight” in a more moderate manner, avoiding direct confrontation with the state and industry players. It adopted three key strategies:

    • compliance – respecting the law;

    • compromise – balancing its transportation service with its public mission;

    • manipulation – lobbying to influence regulations.

    Through this approach, Heetch secured regulatory legitimacy while strengthening its existing pragmatic and media legitimacy. The company was recognized by the French government and included in the French Tech 120 and Next 40 programmes for the country’s most promising start-ups. It also became the first ride-hailing platform to attain “mission-driven company” status.

    Is ‘piracy’ a growth accelerator?

    Ultimately, our study highlights the value of piracy as a strategy for kickstarting the growth of an organization that serves a public cause. By embracing this approach, a pirate organization can drive systemic change to address social or environmental challenges.

    That said, piracy carries an inherent risk: at some point, it will likely face a legitimacy crisis triggered by resistance from monopolies or public authorities. The recent struggles of Paul Watson serve as testament. As he aptly puts it: “You can’t change the world without making waves.”

    Les auteurs ne travaillent pas, ne conseillent pas, ne possèdent pas de parts, ne reçoivent pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’ont déclaré aucune autre affiliation que leur organisme de recherche.

    – ref. ‘Piracy’ to legitimacy: how companies like French ride-hailing platform Heetch can make their mark – https://theconversation.com/piracy-to-legitimacy-how-companies-like-french-ride-hailing-platform-heetch-can-make-their-mark-253079

    MIL OSI –

  • MIL-OSI Submissions: Cyberattacks: how companies can communicate effectively after being hit

    Source: The Conversation – France – By Paolo Antonetti, Professeur, EDHEC Business School

    In its latest annual publication, insurance group Hiscox surveyed more than 2,000 cybersecurity managers in eight countries including France. Two thirds of the companies in the survey reported having been the victim of a cyberattack between mid-August 2023 and September 2024, a 15% increase over the previous period. In terms of potential financial losses, Statista estimated that cyberattacks cost France up to €122 billion in 2024, compared to €89 in 2023 – a 37% rise.


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    The main forms of cyberattacks on French businesses, the recommendations for how companies can protect themselves, and the technical and legal responses they can adopt are well documented.

    However, much less is known about appropriate communications and public relations responses to cyberattacks. The issues at stake are critical. When a company is the target of a cyberattack, should it systematically accept responsibility, or can it instead claim to be a victim to protect its reputation? A wrong answer can aggravate the situation and undermine the confidence of customers and investors.

    Positioning as a victim

    Our recent research questions the assumption that accepting causal responsibility should be the norm after a cyberattack: we show that positioning oneself as a victim can be more effective in limiting damage to one’s image – provided claims of victimhood are deployed intelligently.

    There is evidence that firms need a strategy to present themselves effectively as victims of cybercriminals. Some firms, such as T-Mobile and Equifax, have in the past paid compensation to consumers while refusing to accept any responsibility, essentially presenting themselves as victims.

    Similarly, the large French telecommunications operator Free presented itself as a victim when communicating about the large-scale cyberattack that affected its operations last October, which may have had an impact on its image. The UK’s TalkTalk initially framed itself as a victim of a cybercrime but was later criticized for its inadequate security measures.

    Victimhood and sympathy

    Clumsily declaring itself as the sole entity to blame or the sole victim of a cyberattack – which is what interests us here – can be risky and backfire on a company, damaging its credibility rather than protecting its reputation.

    When companies present themselves as victims of cybercrime, they can elicit sympathy from stakeholders. People tend to be more compassionate toward businesses that depict themselves as wronged rather than those that deny responsibility or shift blame. In essence, this strategy frames the organization as a target of external forces beyond its control, rather than as negligent or incompetent. It leverages a fundamental social norm – people’s instinctive tendency to support those they see as victims.

    But claims of victimhood must align with public expectations and the specific context of the breach. They should not be about shirking responsibility, but about acknowledging harm in a way that fosters understanding and trust. The following approaches and choices can help.

    • align with public perception

    The reactions of stakeholders often depend on their understanding of the situation. If the attack is perceived as an external and malicious act, it is crucial for a company to adopt a consistent stance by emphasizing that it itself has been a victim. But if internal negligence is proven, claiming victim status could be counterproductive. The swiftness of a company’s response, the level of transparency and the relative stance taken are all part of a good strategy.

    • express support for stakeholders

    Adopting a position of victimhood does not mean denying all responsibility or minimizing the consequences of an attack. The company must show that it takes the situation seriously by expressing empathy and commitment to affected stakeholders. It must pay particular attention to those affected inside the organization: a claim of victimhood should be part of an apology or a message expressing concern. An effective message must be sincere and oriented toward concrete solutions.

    • consider reputation

    We find that it is easier for companies to claim victimhood persuasively if they are perceived as virtuous. This reputation can be due to a positive track record in terms of corporate social responsibility or because they are a not-for-profit institution (e.g. a library, a university or a hospital). Virtuous victims generate sympathy and empathy, and this is also reflected after a cyberattack.

    • highlight the harmfulness and sophistication of the attack

    The results of our study also show that public acceptance of victim status is more effective when the cyberattack is perceived to be the work of highly competent malicious actors. It is also important for a company to persuade the public that the attack harmed the company, while keeping the main focus of the response on the public.

    • don’t complain

    It is essential to distinguish between legitimate claims of victim status and communication that could be perceived as an attempt to exonerate oneself. An overly plaintive tone could undermine a company’s credibility. The approach should be factual and constructive, focusing on the measures taken to overcome the crisis.

    • test reactions before communicating widely

    Companies’ responses to a cyberattack can vary depending on the context and the public. It is best to assess different approaches before embarking on large-scale communication. This can be done through internal tests, focus groups or targeted surveys. Subtle differences in the situation can cause important shifts in how the public perceives the breach and what the best response might be.

    Our study sheds light on a shift in public expectations about crisis management: in the age of ubiquitous cybercrime, responsibilities are often shared. Poorly managed communication after a cyberattack can lead to a lasting loss of trust and expose a company to increased legal risks. Claiming victim status effectively, with an empathetic and transparent approach, can help mitigate the impact of the crisis and preserve the organization’s reputation.

    This article was written with Ilaria Baghi (University of Modena and Reggio Emilia).

    Paolo Antonetti ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. Cyberattacks: how companies can communicate effectively after being hit – https://theconversation.com/cyberattacks-how-companies-can-communicate-effectively-after-being-hit-255061

    MIL OSI –

  • MIL-OSI Submissions: AI is consuming more power than the grid can handle — nuclear might be the answer

    Source: The Conversation – Canada – By Goran Calic, Associate Profesor of Strategy and Entrepreneurship Leadership Chair, McMaster University

    New partnerships are forming between tech companies and power operators — ones that could reshape decades of misconceptions about nuclear energy.

    Last year, Meta (Facebook’s parent company) put out a call for nuclear proposals, Google agreed to buy new nuclear reactors from Kairos Power, Amazon partnered with Energy Northwest and Dominion Energy to develop nuclear energy and Microsoft committed to a 20-year deal to restart Unit 1 of the Three Mile Island nuclear plant.

    At the centre of these partnerships is artificial intelligence’s voracious appetite for electricity. One Google search uses about as much electricity as turning on a household light for 17 seconds. Asking a Generative AI model like ChatGPT a single question is equivalent to leaving that light on for 20 minutes.



    Read more:
    AI is bad for the environment, and the problem is bigger than energy consumption

    Having GenAI generate an image can draw about 6,250 times more electricity, roughly the energy of fully charging a smartphone, or enough to keep the same light bulb on for 87 consecutive days.

    The hundreds of millions of people now using AI have effectively added the equivalent of millions of new homes to the power grid. And demand is only growing. The challenge for tech companies is that few sources of electricity are well-suited to AI.

    The grid wasn’t ready for AI

    AI requires vast amounts of computational power running around the clock, often housed in energy-intensive data centres.

    Renewable energy sources such as solar and wind provide intermittent energy, meaning they don’t guarantee the constant power supply these data centres require. These centres must be online 24/7, even when the sun isn’t shining and the wind isn’t blowing.

    Fossil fuels can run continuously, but they carry their own risks. They have significant environmental impacts. Fuel prices can be unpredictable, as exemplified by the gas price spikes due to the war in Ukraine, and the long-term availability of fossil fuels is uncertain.

    Major tech companies like Google, Amazon and Microsoft say they are committed to eliminating CO2 emissions, making fossil fuels a poor long-term fit for them.

    This has pushed nuclear energy back into the conversation. Nuclear energy is a good fit because it provides electricity around the clock, maximizing the use of expensive data centres. It’s also clean, allowing tech companies to meet their low CO2 commitments. Lastly, nuclear energy has very low fuel costs, which allows tech companies to plan their costs far into the future.

    However, nuclear energy has its own set of problems that have historically been hard to solve — problems that tech companies may now be uniquely positioned to overcome.

    Is nuclear energy making a comeback?

    Nuclear power has long been considered too costly and too slow to build. The estimated cost of a 1.1 gigawatt nuclear power facility is about US$7.77 billion, but can run higher. The recently completed Vogtle Units 3 and 4 in the state of Georgia, for example, cost US$36.8 billion combined.

    Historically, nuclear energy projects have been hard to justify because of their high upfront costs. Like solar and wind power, nuclear energy has relatively low operating costs once a plant is up and running. The key difference is scale: unlike solar panels, which can be installed on individual rooftops, the kind of nuclear reactors tech companies require can’t be built small.

    Yet this cost is now more palatable when compared to the expense of AI data centres, which are both more costly and entirely useless without electricity. The first phase of OpenAI and SoftBank’s Stargate AI project will cost US$100 billion and could be entirely powered by a single nuclear plant.

    Nuclear power plants also take a long time to build. A 1.1 gigawatt reactor takes, on average, 7.5 years in the U.S. and 6.3 years globally. Projects with such long timelines require confidence in long-term electricity demand, something traditional utilities struggle to predict.

    To solve the problem of long-range forecasting, tech companies are incentivizing power providers by guaranteeing they’ll purchase electricity far into the future.

    These companies are also literally and financially moving closer to nuclear power, either by acquiring nuclear energy companies or locating their data centres next to nuclear power plants.

    Destigmatizing nuclear energy

    One of the biggest challenges facing nuclear energy is the perception that it’s dangerous and dirty. Per gigawatt-hour of electricity, nuclear produces only six tonnes of CO2. In comparison, coal produces 970, natural gas 720 and hydropower 24. Nuclear even has lower emissions than wind and solar, which produce 11 and 53 tonnes of CO2, respectively.

    Nuclear energy is also among the safest energy sources. Per gigawatt-hour, it causes 820 times fewer deaths than coal, 43 times fewer than hydropower and roughly the same as wind and solar.

    Still, nuclear energy remains stigmatized, largely because of persistent misconceptions and outdated beliefs about nuclear waste and disasters. For instance, while many public concerns remain about nuclear waste, existing storage solutions have been used safely for decades and are supported by a strong track record and scientific consensus.

    Similarly, while the Fukushima disaster in Japan displaced thousands of people and was extremely costly (total costs of the disaster are expected at about US$188 billion), not a single person died of radiation exposure after the accident, a United Nations Scientific Committee of 80 international experts found.



    Read more:
    With nuclear power on the rise, reducing conspiracies and increasing public education is key

    For decades, there was little effort to correct public perceptions about nuclear fears because it wasn’t seen as necessary or profitable. Coal, gas and renewables were sufficient to meet the demand required of them. But that’s now changing.

    With AI’s energy needs soaring, Big Tech has classified nuclear energy as green and the World Bank has agreed to lift its longstanding ban on financing nuclear projects.

    Big Tech’s billion-dollar bet on nuclear

    The world has long lived with two nuclear dilemmas. The first is that, despite being one the safest and cleanest form of energy, nuclear was perceived as one the most dangerous and dirtiest.

    The second is that upgrading the power grid requires large-scale investments, yet money had been funnelled into small, distributed sources like solar and wind, or dirty ones like coal and natural gas.

    Now tech companies are making hundred-billion-dollar strategic bets that they can solve both nuclear dilemmas. They are betting that nuclear can offer the kind of steady, clean power their AI ambitions require.

    This could be an unexpected positive consequence of AI: the revitalization of one of the safest and cleanest energy sources available to humankind.

    Michael Tadrous, an undergraduate student and research assistant at the DeGroote School of Business at McMaster University, co-authored this article.

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

    – ref. AI is consuming more power than the grid can handle — nuclear might be the answer – https://theconversation.com/ai-is-consuming-more-power-than-the-grid-can-handle-nuclear-might-be-the-answer-258677

    MIL OSI –

  • MIL-OSI Canada: Government confirms non-taxability of Canada Carbon Rebates for Small Businesses

    Source: Government of Canada News

    June 30, 2025 – Ottawa, Ontario – Department of Finance Canada

    Canada’s new government is bringing down costs and putting more money in Canadians’ pockets.

    Today, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, issued draft legislation to ensure that all Canada Carbon Rebates for Small Businesses are provided tax-free—securing small businesses the full financial benefit of the rebates. 

    Specifically, payments received by corporations in respect of the 2019-20 to 2023-24 fuel charge years would not be included in income for tax purposes, and the final payment to be made under the Canada Carbon Rebate for Small Businesses (i.e., in respect of the 2024-25 fuel charge year) will also be tax-free.

    The government will introduce legislation in Parliament to implement these changes in the fall.

    Once the legislation receives Royal Assent, the Canada Revenue Agency (CRA) will have the authority to process amended T2 corporation income tax returns for those who have already included the rebate in their taxable income, ensuring the rebate is processed as tax-free (i.e., not included in the taxable income reported in the T2). Further guidance will be provided by the CRA at that time.

    The Government also confirms that eligible businesses that filed their 2023 tax return after July 15, 2024, and on or before December 31, 2024, will also be eligible to receive tax-free payments in respect of the 2019-20 to 2023-24 fuel charge years, once the legislation receives Royal Assent. Eligible businesses that file their 2024 income tax return by July 15, 2025, will be eligible to receive a tax-free payment in respect of the 2024-25 fuel charge year.

    Finally, with the removal of the fuel charge from law and the winding down of proceeds return mechanisms, the government will no longer proceed with proposed changes announced in the 2024 Fall Economic Statement which would have expanded eligibility for the Canada Carbon Rebate for Small Businesses to cooperative corporations and credit unions, added a minimum payment for smaller businesses, and introduced a phaseout for larger businesses.

    MIL OSI Canada News –

  • MIL-OSI Russia: China Resolutely Opposes Forced Shutdown of Hikvision’s Business in Canada – China’s Ministry of Commerce

    Translation. Region: Russian Federal

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

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

    BEIJING, June 30 (Xinhua) — China expresses strong dissatisfaction and firmly opposes the Canadian government’s order to stop Chinese company Hikvision’s operations in Canada, a spokesman for China’s Ministry of Commerce said Monday.

    China noted that the Canadian side forcibly stopped Hikvision’s operations in the country and prohibited Canadian government agencies from purchasing and using Hikvision products under the pretext of protecting “national security,” the official said.

    According to him, the so-called national security review undertaken by the Canadian side lacked transparency and yielded uncertain results. The representative of the Chinese agency called it a typical example of the generalization of the concept of national security.

    “The actions of the Canadian side not only undermine the legitimate rights and interests of Chinese enterprises, but also negatively affect the confidence of companies from both countries in cooperation, and harm normal trade and economic relations between China and Canada,” the official representative emphasized.

    China, he continued, urges Canada to immediately correct its wrong actions, stop politicizing economic and trade issues and generalizing the concept of national security, and ensure an open, fair, just and non-discriminatory environment for enterprises from all countries, including China, to invest and do business in Canada.

    The Chinese side will take all necessary measures to resolutely protect the legitimate rights and interests of Chinese enterprises, added the official representative of the Ministry of Commerce of the People’s Republic of China. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: ICYMI: Administrator Loeffler Pens Op-Ed in Support of One Big Beautiful Bill

    Source: United States Small Business Administration

    WASHINGTON – In case you missed it, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), published an op-ed in Fox News – highlighting how President Donald J. Trump’s One Big Beautiful Bill will benefit America’s 34 million small businesses. Her piece underscores specific provisions of the legislation that will drive Main Street job creation, growth, and prosperity – including making the 199A Pass-Through Deduction permanent, eliminating tax on tips and overtime, incentivizing the return of Made in America, bringing more able-bodied Americans back into the workforce, and cutting red tape.

    This month, Administrator Loeffler has traveled to Florida, Indiana, Kansas, Louisiana, Maine, and North Carolina to meet with small business owners and highlight the urgent need to pass the One Big Beautiful Bill – to protect working- and middle-class job creators from the largest tax hike in American history.

    Read the op-ed or view excerpts below:

    “Since February, I’ve traveled across the country meeting with small business owners in nearly every sector – from family farms and factory floors to the Main Street cornerstones of restaurants and retailers. Their message is clear: they don’t want bailouts, bigger tax bills or bureaucracy. They want a tax code that enables them to plan for the long term, puts more money in their pockets, and rewards – not punishes – work, entrepreneurship and growth. This bill delivers on all three.”

    “The “One Big, Beautiful Bill” prevents the largest tax hike in history. It makes the 2017 tax cuts permanent, including the Section 199A deduction – leaving more capital in the hands of America’s 34 million small business owners to hire, expand and reinvest in their operations. This provision alone is projected to create 1 million new jobs on Main Street and generate $750 billion in economic activity over the next decade.”

    “Unlike his predecessor, Trump has never lost sight of those who drive the American economy. The “One Big Beautiful Bill” is a reflection of his commitment to working families and small businesses. It delivers real tax relief, trims Washington overreach, rewards work and puts small businesses back where they belong – at the center of America’s success story.  Congress should act without delay. Small businesses are ready to keep building, hiring and innovating – this time with most in Washington finally behind them.”

    # # #

    About the U.S. Small Business Administration
    The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and 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 United Nations: ‘New Dawn’ Rises for Financing Development Progress, Secretary-General Tells Business Forum at International Conference

    Source: United Nations General Assembly and Security Council

    Following are UN Secretary-General António Guterres’ remarks at the opening of the International Business Forum at the Conference on Financial Development, in Sevilla, Spain, today:

    This Forum reflects a fundamental fact.  Development is everyone’s business.  And the private sector is an essential partner in helping countries climb the development ladder and achieve the Sustainable Development Goals.

    Businesses are not just engines of jobs and economic growth. They help propel the innovation, technology and investment that development demands.

    We are here to boost support for initiatives that benefit people and planet.  We meet against the backdrop of an incredibly challenging global environment.  As we gather in Sevilla, trade barriers and macroeconomic risks are rising.  Major aid cuts are making a bad situation even worse.

    Mistrust and geopolitical divisions are blocking effective global solutions.  And the financing gap for the Sustainable Development Goals has ballooned to $4 trillion.

    When the world came together for this conference 10 years ago in Addis Ababa, countries recognized that achieving the Goals was impossible without mobilizing private capital at scale.

    One decade later, we continue to fall short.  Last year, investment in infrastructure in developing countries dropped by 35 per cent — including in key sectors like renewable energy, water and sanitation.

    And foreign direct investment has declined two years in a row, with investment flows largely bypassing Least Developed Countries altogether. We need to create the conditions to change course.  And that begins here in Spain.

    The Sevilla Commitment document includes important steps to get the engine of development revving again:  Through new domestic and global commitments that can channel public and private finance to the areas of greatest need […] By overhauling the world’s approach to debt to make borrowing work in service of sustainable development […] And by reforming the global financial architecture to reflect today’s realities and the urgent needs of developing countries.

    The Sevilla Commitment also puts forward a number of specific actions to unlock private sector investment in sustainable development. This includes steps to strengthen the way we blend public and private capital together to maximize the use of public money in crowding-in private funds.  It includes new approaches to manage currency risk that prevent otherwise promising investment opportunities from securing the capital required.

    And it includes a call to review financial regulations to ensure that risk weightings are well-designed, and help — not hinder — institutional investors from embracing projects in frontier markets.

    These are significant steps, informed by lessons learned over the past 10 years.  When one looks at today’s world, the crises in the official development assistance (ODA), the crises in the global funds available, it is absolutely evident that we need to be able to multiply the resources available for investments.

    And the main obligation, in my opinion, of public development banks, most national and international, should be today concentrated, not essentially, in their operations, and I understand the pressure of any bureaucracy to do their own things, but those public funds available in developing banks, should be more and more put to work to multiply resources through de-risking private finances and private investments.

    Giving guaranties, stablishing coalitions in which they are the first risk takers and creating the conditions to massively increase the massive private finance and private investment in countries in which, without the necessary de-risking, it is practically impossible to see enough development.

    This is a new mentality that we need to guaranty in the investment banks, the public investment banks, both national and international.

    Throughout, we are counting on the leadership and vision of all of you to carry forward the spirit of collaboration and bold solutions.  By uniting public and private sector leaders, regulators and development banks, we can ensure that this conference is not an end, but rather a beginning.

    The beginning of a new era of action and collaboration on some of the most urgent issues facing our world today.  And a new dawn for how we finance development progress around the world.

    Thank you all for being part of this important effort. I hope that the joint participation of the public and private sectors can multiply the resources we have.

    Knowing that much more investment is needed in today’s world, but that there are mechanisms that allow available public funds to mobilize much more private financing and investment than today.

    MIL OSI United Nations News –

  • MIL-OSI USA News: Fact Sheet: President Trump Is Delivering Historic Permitting Wins Across the Federal Government

    Source: US Whitehouse

    ACCOMPLISHING PERMITTING REFORM IN RECORD TIME:  Today, President Donald J. Trump delivered on his promise to fix a broken permitting system, ensuring that burdensome Federal environmental reviews cannot be weaponized to stall the growth of the American economy or halt energy infrastructure construction.

    • The White House, through the Council on Environmental Quality (CEQ), coordinated a historic effort to dramatically reduce the burdens of National Environmental Policy Act (NEPA) compliance across the Federal government so that America can get back to building again.
    • In consultation with CEQ, the Department of Agriculture, the Department of Commerce (including the National Oceanic and Atmospheric Administration), the Department of the Interior, the Department of Energy, the Federal Energy Regulatory Commission, the Department of Transportation, the Department of Defense, and the U.S. Army Corps of Engineers updated their respective NEPA implementing procedures to  simplify this overly burdensome process and ensure efficient and timely environmental reviews.
    • These historic reforms:
      • Implement deadlines and page limits on environmental reviews required under recent amendments to NEPA, in order to expedite infrastructure development and reduce costs.
      • Provide clarification that NEPA does not apply to every action that a Federal agency takes, but only to Federal actions where the agency has sufficient control and discretion to take environmental effects into account.
      • Ensure simple and expeditious processes to create categorical exclusions (CEs), adopt other agencies’ CEs to minimize repetitive NEPA analyses, and focus their attention on actions with truly significant environmental effects.

    CUTTING UNNECESSARY RED TAPE: All three branches of the Federal government have recently directed reforms to the NEPA process: President Trump, in his Unleashing American Energy Executive Order; the United States Congress, in its BUILDER Act amendments as part of the 2023 Fiscal Responsibility Act; and the United States Supreme Court in its recent landmark decision in Seven County Infrastructure Coalition v. Eagle County.

    • NEPA directs all agencies to maintain their own, agency-level NEPA implementing procedures.
    • Most of those procedures had not been modernized to reflect any of the recent reforms. Some agencies were still using outdated NEPA regulations from the 1980s.
    • Under President Trump’s leadership, the endless cycle of regulatory back-and-forth and excessive environmental reviews that produced little benefit for the American people has come to a halt.
    • Federal agencies are cutting unnecessary layers of bureaucracy in record time by implementing the unmistakable direction from all three branches of the Federal government. 

    BUILDING ON PAST SUCCESS: The Trump Administration has taken decisive action to reform, modernize, and expedite the Federal environmental review, eliminating unnecessary delays that are holding back the growth of secure and reliable infrastructure projects across the Nation.

    • On January 20, 2025, President Trump signed the Executive Order, Unleashing American Energy, which called for unleashing American energy dominance through efficient permitting.
      • The E.O. directed CEQ to provide guidance on implementing NEPA to expedite and simplify the permitting process – and propose rescinding CEQ’s regulations.
      • CEQ responded to President Trump’s direction by rescinding its NEPA regulations, creating a clear path for agencies to expeditiously reform their own NEPA procedures and allow America to build again.
      • President Trump’s action to restore CEQ to its core statutory mission of coordinating and consulting, providing guidance to Federal agencies as they revise their NEPA procedures, will ensure timely reviews and consistency across agencies and enable CEQ to coordinate this monumental deregulatory effort.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Names Small Business of the Week, Continuum Ag

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    Published: June 30, 2025
    Throughout this Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties.
    RED OAK, Iowa – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business Committee, today announced her Small Business of the Week: Continuum Ag of Washington County. Throughout the 119th Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties.
    “Since 2015, Continuum Ag has rooted themselves in helping farmers manage and improve their soil health,” said Chair Ernst. “Partnering with over 40 states and 20 countries, Continuum Ag continues to encourage regenerative agricultural practices that enable farmers to make data-driven decisions.”  
    An Iowa State University alum and seventh-generation farmer, Mitchell Hora, established Continuum Ag in 2015 to help farmers collect and interpret their soil health data. Today, Continuum Ag uses their proprietary tool called TopSoil to help fellow farmers improve their soil health, gather insights about their data, and work directly with supply chain partners.
    Stay tuned as Chair Ernst recognizes more Iowa small businesses across the state with her Small Business of the Week award.

    MIL OSI USA News –