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Category: Economy

  • MIL-OSI: Isabel Faragalli and Sergei Anikin proposed to join Inbank Supervisory Board

    Source: GlobeNewswire (MIL-OSI)

    At the Annual General Meeting on 31 March 2025, the Supervisory Board of AS Inbank will propose the election of Isabel Margaret Anne Faragalli and Sergei Anikin to the Supervisory Board for a three-year term, effective 1 April 2025.

    According to Jan Andresoo, Chairman of the Inbank Supervisory Board, the addition of strong finance sector and tech expertise, along with increasing the proportion of independent members, is aimed at supporting Inbank’s journey toward becoming a public company.

    “As Inbank and the complexity of the business continue to grow, we need to further strengthen our governance structure which is why I’m very excited to welcome Isabel Faragalli and Sergei Anikin to the Supervisory Board. Isabel brings deep expertise in capital markets, while Sergei contributes strong leadership in technology. Together, they will help bolster and internationalize our governing bodies,” said Jan Andresoo.

    “I am delighted to join the Inbank Supervisory Board. With almost 30 years of experience in the European capital markets, I have advised many European banks and consumer finance companies on their funding and growth strategy and I very much look forward to sharing such experience with Inbank and supporting them with their international expansion,” commented Isabel Faragalli.

    “I am thrilled to join the Inbank Supervisory Board and collaborate with an exceptional team of professionals. In today’s world, technology is the key driver of success for any business, and I firmly believe that its strategic application can unlock new growth opportunities. My passion lies in leveraging technology to drive business transformation, and I look forward to helping Inbank scale its operations, expand internationally, and strengthen its position as a leader in financial technology,” said Sergei Anikin.

    The Inbank Supervisory Board will consist of seven members, including Jan Andresoo, Roberto de Silvestri, Triinu Bucheton, Raino Paron, and Erkki Raasuke, alongside the newly proposed members Isabel Faragalli and Sergei Anikin.

    Isabel Faragalli and Sergei Anikin do not hold Inbank shares.

    Isabel Margaret Anne Faragalli brings extensive experience in investment banking, asset management, and structured finance, having held senior leadership roles across global financial institutions. She currently serves as Head of Investments Europe at Spectrum Principal Asset Management, where she leads investment strategy, asset origination, and business development across Europe. Previously, she spent over six years at Credit Suisse, driving capital market solutions and credit structuring within the Debt Capital Markets division, working with large European corporates and banks. Her career spans over two decades in leading financial firms, including EFG Bank, Swiss Re, Man Investments, and Credit Suisse First Boston, specializing in capital markets, investment consulting, and structured credit solutions. Isabel holds an MSc in Finance & Financial Law from the University of London and is a qualified English lawyer (non-practicing). Fluent in English, German, Italian, and Spanish, she also lectures at Hochschule Luzern’s MBA programs.

    Sergei Anikin is a seasoned technology leader, angel investor, and board member with extensive experience in scaling startups, fostering innovation, and driving business growth. He is currently the Chairman of the Board at Bisly and Katana MRP, as well as an active investor and advisor focused on SaaS, deep tech, and company scaling. Previously, he served as Chief Technology Officer at Pipedrive, where he played a pivotal role in scaling the company from a 20-person startup to its acquisition by Vista Equity Partners, growing the engineering team from 10 to over 400 professionals and increasing annual recurring revenue from $1 million to $100 million. He has also held leadership roles at Tuum, Microsoft, Skype, and Hansabank, with expertise in software architecture, engineering management, and business transformation. Sergei holds a Master’s degree in Data Processing from TalTech and is known for his ability to align technology with business goals, making him a key player in driving innovation and scaling businesses globally.

    Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with more than 6,000 merchants, Inbank has 872,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    The MIL Network –

    March 7, 2025
  • MIL-OSI: DNO to Acquire Sval Energi in Transformative Transaction; Quadruples North Sea Output

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 7 March 2025 – DNO ASA, the Norwegian oil and gas operator, today announced it has reached agreement to acquire 100 percent of the shares of Sval Energi Group AS from HitecVision for a cash consideration of USD 450 million based on an enterprise value of USD 1.6 billion.

    The Sval Energi assets are complementary to DNO’s North Sea portfolio and will add scale and diversification to solidify the Company’s position as a leading listed European independent oil and gas company. The acquisition will be financed from existing liquidity including available credit facilities. The Company will set in place the optimal capital structure prior to completion.

    “This is a rare opportunity to acquire a portfolio of high-quality oil and gas assets on the Norwegian Continental Shelf,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani, “and we have moved fast to capture it.” He continued that “given low unit production costs and limited near-term investment requirements, the Sval Energi portfolio is highly cash generative and will help underpin development of the numerous discoveries we have made in Norway recently,” he added.

    This transaction will:

    • Boost DNO’s global net production by two thirds to around 140,000 barrels of oil equivalent per day (boepd) on a 2024 pro forma basis and proven and probable (2P) reserves by 50 percent to 423 million barrels of oil equivalent (boe)
    • Increase North Sea 2P reserves from 48 million boe to 189 million boe post-closing and 2C resources from 144 million boe to 246 million boe
    • Quadruple North Sea production to around 80,000 boepd, propelling the Company to the upper ranks of Norwegian Continental Shelf players
    • Turn the North Sea into the biggest contributor to Company’s net production with some 60 percent of the total (with the balance coming predominantly from two operated fields in the Kurdistan region of Iraq)
    • Provide tax synergies, G&A savings and lower DNO’s borrowing costs
    • Strengthen presence in core areas on the Norwegian Continental Shelf where the Company has unparalleled exploration success since 2020 with 14 discoveries including Bergknapp/Åre, Bergknapp, Carmen, Cuvette, Heisenberg, Kveikje, Mistral, Norma, Ofelia, Othello, Overly, Ringand, Røver Nord and Røver Sør, together adding contingent resources (2C) of around 100 million boe net to DNO
    • Capitalize on Sval Energi’s extensive portfolio which includes interests in hubs and existing tiebacks that provide potential development synergies with DNO’s discoveries

    Sval Energi in brief:

    • Non-operated interest in 16 producing fields offshore Norway, with net production of 64,100 boepd in 2024
    • 141 million boe in net 2P reserves and 102 million boe of net 2C resources
    • Largest assets (measured by net 2P reserves) are Nova, Martin Linge, Kvitebjørn, Eldfisk, Maria, Symra and Ekofisk
    • Portfolio is highly cash generative (cash flow from operations totaled USD 565 million in 2024) with low production cost (USD 14 per boe) and limited near-term investments
    • Balanced portfolio split about equally between liquids and gas
    • Additional upside and production potential from organic growth in producing assets, fields under development (Maria Revitalization, Symra, Dvalin North) and discoveries (Cerisa, Ringhorne North, Beta), as well as redevelopment opportunities (Albuskjell, West Ekofisk)
    • The MLK wind farm will be carved out prior to closing and is not part of the transaction
    • A team of 93 employees to be integrated into the DNO organization

    The acquisition will be financed with existing cash and other debt financing facilities available to DNO. At yearend 2024, the Company held USD 900 million in cash and a further USD 100 million liquidity under its reserve-based lending (RBL) facility. Additional funding sources include new bond and RBL debt as well as offtake-based financing.

    The effective date of the transaction is 1 January 2025, with expected completion mid-year 2025, subject to customary regulatory approvals from the Norwegian Ministry of Energy, the Norwegian Ministry of Finance and competition authorities.

    Pareto Securities is acting as financial advisor to DNO and Advokatfirmaet Thommessen as legal counsel.

    DNO’s executive management will participate in a videoconference call, including a question-and-answer session, today at 10:00 CET.

    Please visit www.dno.no to participate in the call.

    A presentation of the transaction is attached to this release.

    – 

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    – 

    DNO ASA is a leading Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen. More information is available at www.dno.no

    This announcement is considered to include inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement was published by Gudmund Hartveit, Manager Corporate Development and IR DNO ASA, at the date and time set out above.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    Attachment

    • Acquisition of Sval Energi Group AS – Investor Presentation

    The MIL Network –

    March 7, 2025
  • MIL-OSI USA: Lummis: Trump Executive Order Creating Strategic Bitcoin Reserve is a Huge Victory for America’s Financial Future 

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    March 7, 2025

    Washington, D.C. —U.S. Senator Cynthia Lummis (R-WY), Senate Banking Subcommittee on Digital Assets Chair, issued the following statement after President Trump issued a historic executive order creating a Strategic Bitcoin Reserve:
    “President Trump promised to lead the most pro-digital asset administration in U.S. history, and today he is fulfilling that promise,” said Lummis. “By embracing bitcoin as a strategic asset, President Trump has charted a path to addressing our national debt and securing America’s position as the world leader in financial innovation. The American people will look back on this decision as the moment we reclaimed our financial future, and I look forward to partnering with President Trump to get this across the finish line.”

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI China: China remains confident in Europe: Chinese FM

    Source: China State Council Information Office 3

    Chinese foreign minister Wang Yi said on Friday that China remains confident in Europe and believes that it can be a trustworthy partner, adding that the two sides can solve pending issues properly.

    Wang made the remarks at a press conference on the sidelines of the ongoing session of the national legislature.

    Noting that this year marks the 50th anniversary of diplomatic relations between China and the EU, Wang said in the half-century-long relationship, the most valuable asset is mutual respect, the most powerful impetus is mutual benefit, the greatest unifying consensus is multilateralism, and the most accurate characterization is partnership.

    Wang said that in the past five decades, China-EU trade has expanded from 2.4 billion U.S. dollars to 780 billion U.S. dollars. Investment has increased from almost zero to close to 260 billion U.S. dollars. China-Europe Railway Express has run more than 100,000 cargo trips and become a golden passage connecting Asia and Europe.

    “Fifty years on, China and the EU jointly make up over one-third of the world economy, and the cooperation between the two has a greater strategic value and global influence,” Wang said, adding that a healthy and stable relationship will lift up both sides and make for a brighter world.

    “The two sides have the capacity and wisdom to properly resolve pending issues through friendly consultation and jointly usher in another promising 50 years,” added Wang.

    MIL OSI China News –

    March 7, 2025
  • MIL-OSI USA: Attorney General Bonta Continues His Support for Federal Workers: Trump Administration’s Termination of Probationary Employees is Simply Unlawful

    Source: US State of California Department of Justice

    Files Lawsuit Against Federal Government to Stop Mass Firing of Probationary Employees 

    OAKLAND — California Attorney General Rob Bonta today filed a lawsuit challenging numerous federal agencies for conducting an illegal mass firing of federal probationary employees. In today’s lawsuit, 20 attorneys general argue that the Trump Administration’s Office of Personnel Management’s directive to agencies to terminate probationary employees en masse to reduce the size of the federal workforce exceeds any statutory authority granted by Congress. The lawsuit seeks to immediately halt further firings and reinstate unlawfully terminated federal employees while litigation proceeds.

    “The Trump Administration’s sweeping mass firing of probationary federal employees is simply unlawful,” said Attorney General Bonta. “Not only is the administration breaking the law, while they claim these actions are necessary to ‘curb waste and inefficiency,’ the reality is that abrupt and indiscriminate terminations will lead to increased operation disruptions, higher rehiring costs, and long-term financial burdens on taxpayers. This reckless directive has inflicted chaos and harmed federal workers who are key contributors to our economy and provide critical services that affect the everyday lives of Californians, from offering support for veterans and farmers, to protection of our cherished national parks and lands. I won’t stand idly by as the President attempts yet another unlawful power grab. I am proud to file this lawsuit with my fellow attorneys general across the nation to reinstate unlawfully terminated federal employees and halt further firings.”

    Nationally, there are more than 5.1 million federal workers. Nearly all federal employees serve a one-or two-year probationary period, and more than 200,000 are on probationary status across the federal government. In California, numerous federal employees serve in critical roles across key agencies including the Department of Veterans Affairs, the Department of Agriculture, the National Park Service, and the U.S. Forest Service, among others.

    The abrupt, pretextual termination of federal employees is not only unlawful but also disrupts essential government services and has far reaching economic effects. Specifically, in California, federal employees heavily contribute to our economy by paying state income taxes and generating substantial local revenue. This unlawful reduction in workforce has already caused a 149% increase in state unemployment benefit claims by federal workers and will inevitably impact small businesses through decreased consumer spending and decline in demand. This callous decision not only fuels broader economic uncertainty but directly contradicts yet another of the President’s empty promises to “immediately bring prices down, starting on day one” of his presidency. 

    In the complaint, the attorneys general allege that the Trump Administration’s failure to comply with Reduction in Force (RIF) procedures was arbitrary and capricious, not in accordance with law, and in violation of the federal Administrative Procedures Act. These critical protections ensure that workers and impacted communities receive advance notice of mass layoffs to blunt the disruptions they cause for the affected personnel and their communities and also ensure that personnel such as military veterans are given preference in retaining their jobs.

    When a RIF results in a layoff of 50 or more employees, the agency must generally give at least 60 days’ advance notice to state governments, so they can provide vital “rapid response” information, resources, and services to affected workers. The federal agencies named in the lawsuit failed to provide any advance notice to California, causing significant expense and burden on the state as it scrambles to respond to the sudden mass layoffs of its residents. In the month of February 2025, there was a 149% uptick in unemployment insurance claims filed by individuals recently terminated from federal service. 

    The attorneys general are seeking declaratory relief, a temporary restraining order to pause further mass firings, and preliminary and permanent injunctive relief that would reinstate unlawfully terminated federal employees and enjoin further terminations that do not follow required legal procedures.

    Attorney General Bonta is joined by the attorneys general of Arizona, Colorado, Connecticut, Delaware, Hawai‛i, Illinois, Massachusetts, Maryland, Michigan, Minnesota Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, Wisconsin, and the District of Columbia in filing this lawsuit. 

    A copy of the complaint can be found here.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI: Bitget Wallet Adds Support for Sahara AI Testnet, Expanding Access to Decentralized AI

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, March 07, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has added support for the Sahara AI Testnet, allowing users to connect to the network and interact with its decentralized AI ecosystem. This integration provides Bitget Wallet users with access to Sahara AI’s test environment as the platform explores AI applications in blockchain.

    Users can now add the Sahara AI Testnet directly through Bitget Wallet and claim test tokens via the Sahara AI Faucet on the Discover DApp page. This integration allows users to interact with AI-driven blockchain applications as decentralized AI networks continue to develop. By supporting the testnet, Bitget Wallet expands the range of networks available to its users and provides early access to projects exploring AI and Web3 technologies.

    Sahara AI is an EVM-compatible Layer 1 blockchain focused on decentralizing AI development through blockchain and privacy-preserving technologies. The platform aims to create a transparent and accessible AI economy by decentralizing ownership and governance of AI assets. Its testnet allows participants to contribute to data collection and refinement, with a mainnet launch planned for the third quarter of 2025.

    “As AI and blockchain evolve, decentralized AI platforms are an area of growing interest in Web3,” said Alvin Kan, COO of Bitget Wallet. “By supporting the Sahara AI Testnet, we are providing users with access to a developing AI ecosystem and the opportunity to engage with emerging blockchain applications.”

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27502c7d-2015-4736-9d7f-03c05126a777

    The MIL Network –

    March 7, 2025
  • MIL-OSI United Kingdom: Workshop held to equip prosecutors combat corruption and money laundering

    Source: United Kingdom – Executive Government & Departments

    World news story

    Workshop held to equip prosecutors combat corruption and money laundering

    A 3-day workshop on enhancing use of financial intelligence tools in equipping prosecutors for combating corruption and money laundering concluded successfully in Honiara last month.

    Group photo of the participants with Deputy High Commissioner Emma Davis.

    The workshop aimed to address specific, demand-driven needs of the Office of the Director of Public Prosecutions in Solomon Islands by providing a blend of theoretical knowledge and practical mentoring.

    Supported by the UK government, the workshop aimed to address the specific, demand-driven needs of the Office of the Director of Public Prosecutions in Solomon Islands by providing a blend of theoretical knowledge and practical, hands-on mentoring.

    It focused on enhancing the use of financial intelligence tools to better equip prosecutors in their efforts to combat corruption and money laundering.

    British Deputy High Commissioner to Solomon Islands and Nauru, Emma Davis opened the workshop on Monday 24 February saying:

    As prosecutors you are key and must be professional and competent and for corruption cases this is essential.  Prosecutors often come under closer scrutiny, and it is important that you operate with integrity, fairness, be accountable for your actions and have an open mind.

    The challenge is immense. Corruption and money laundering are not just financial crimes; they are threats to stability, economic development, and public trust. Those who engage in these illicit activities seek to exploit vulnerabilities, obscure illicit gains, and undermine justice. As prosecutors, your role is pivotal in ensuring that these crimes are detected, investigated, and prosecuted effectively.

    Workshop outcomes include knowledge sharing, exchange of experiences, sharing of best practices based on the knowledge products developed under the previous phases of the Pacific Anti-Corruption project, and adopting innovative approaches to tackling corruption among Pacific integrity institutions.

    Capacity-building was among the workshop outcomes in terms of strengthening the technical and operational capabilities of the Office of the Director of Public Prosecutions in Solomon Islands to be able to effectively and efficiently prioritise and prosecute corruption and money laundering cases.

    Partnerships were also fostered because of the workshop, enhancing regional collaboration and solidarity among key integrity institutions including financial intelligence units and prosecutorial agencies.

    Staff of the Office of the Director of Public Prosecutions in Solomon Islands including resource personnel from the Central Bank of Solomon Islands Financial Intelligence Unit and UNDP Pacific Office in Fiji took part in the three-day workshop.

    The Anti-Corruption Project is a UNDP initiative funded by the government of the United Kingdom of Great Britain and Northern Ireland and seeks to strengthen whole-of-society commitment to addressing corruption through increased support from officials, communities and civil society for tackling corruption and by strengthening national policy frameworks, institutions, processes and capacities to prevent and address the effects of corruption across multiple sectors.

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    Published 7 March 2025

    MIL OSI United Kingdom –

    March 7, 2025
  • MIL-OSI China: Digital economy focus of China-EU cooperation: forum

    Source: China State Council Information Office

    The 2025 Global Digital Economy Conference (GDEC)’s International Cooperation Forum series was held in Barcelona, Spain, on March 4.

    GDEC’s International Cooperation Forum series held in Barcelona, Spain, on March 4. [photo provided to China.org.cn]

    Themed “Integration, Innovation, Win-Win: Co-creating a New Blueprint for the China-Europe Digital Economy,” the Digital Economy Cooperation Forum was hosted by the GDEC Organizing Committee, and organized by the Beijing Municipal Bureau of Economy and Information Technology (BMBEIT).

    The event attracted more than 150 government representatives, corporate executives, industry association leaders from China, Spain and other European countries, and more than 60 overseas companies and institutions participated in it.

    During the forum, the organizer held more than 20 government-enterprise matchmaking events, and the parties had in-depth exchanges on cutting-edge issues in the digital economy and reached a number of cooperation intentions.

    This year marks the 20th anniversary of the establishment of the China-EU comprehensive strategic partnership and the 50th anniversary of the establishment of diplomatic relations between China and the European Union. The forum, with the digital economy as the link, has effectively promoted China-EU digital friendly exchanges and practical cooperation.

    In the Barcelona forum, Meng Yuhong, consul general of the Chinese Consulate General in Barcelona, said that China is willing to share development opportunities with the world and advocate inclusive economic globalization.

    Facing the opportunities and challenges brought by digitalization, the international community should strengthen dialogue and exchanges, deepen pragmatic cooperation, and work together to build a more fair, reasonable, open, inclusive, secure, stable and vibrant cyberspace, Meng added.

    Jiang Guangzhi, the BMBEIT chief, delivered an opening speech in the form of digital human. In his address, Jiang said that the capital city of China, as a pioneer in the global digital economy, actively implements the national digital economy development strategy, and Barcelona, as the core hub of the European digital economy, has obvious advantages in science and technology industry clusters. The two cities have broad prospects for cooperation in the field of digital economy.

    Mario Rubert, director of Barcelona Chamber of Commerce, said in his speech that the Barcelona City Government regards China as a strategic priority. Nearly 20 years ago, the local government was very forward-looking and became the first Spanish public institution to establish a Chinese commissioner, laying a solid foundation for the long-term friendly cooperation between the two sides.

    Joan Romero, executive director of ACCIÓ, an agency of the Government of Catalonia to promote business competitiveness through innovation and internationalization, said China is a leading country in science and technology and a benchmark, expressing the hope that the Catalonia region can strengthen cooperation with China in the economic, technological and social fields.

    The Barcelona forum was the first time that GDEC had set up a branch venue in Europe. It was held in the Spanish city at the same time as Mobile World Congress. It was the first time that the two major international conferences joined hands, creating a new paradigm for cooperation.

    On the sidelines of the forum, BMBEIT also held a business and investment promotion activity called “Night of Beijing” in the Spanish city.

    Relevant persons in charge of the BMBEIT promoted Beijing’s leading digital technology solutions in key digital economy industries such as autonomous driving, smart logistics, smart home, digital healthcare, and value-added telecommunications, combining core technologies, application scenarios, international promotion, and effectiveness cases.

    Those participating in the activity think that it promoted the precise connection between industry-leading enterprises and leading technologies between China and the West, and between China and the EU, and it also provided innovative ideas and practical samples for the development of the global digital economy.

    The GDEC has been successfully held for four sessions since 2021. It is committed to promoting more comprehensive international cooperation in the digital economy industry and promoting the friendly and sustainable development of the global digital ecology. The 2025 GDEC will be held in Beijing in July.

    MIL OSI China News –

    March 7, 2025
  • MIL-OSI USA: Grassley, Peters Relaunch Bipartisan Effort to Root Out Foreign Influence in U.S. Policy

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and Homeland Security and Governmental Affairs Committee Ranking Member Gary Peters (D-Mich.) reintroduced two bipartisan bills to prevent foreign governments, including adversaries like China and Russia, from shadow influencing U.S. policy. The legislation would help close loopholes that foreign governments exploit to conceal their roles in lobbying efforts.

    “Sunlight is the best disinfectant, and the public has a right to know if a foreign government is trying to sway American policy. Our bipartisan bills would close a loophole that allows individuals to conceal their lobbying efforts and ensure that all foreign actors are disclosed to the American people. The Senate passed our bipartisan legislation last Congress, and I’m going to continue to work diligently with my colleagues to get these vital reforms to the president’s desk,” Grassley said.

    “The American people deserve complete transparency about who is trying to influence our political process. These bipartisan bills will help ensure foreign actors can’t exploit loopholes to hide their activities while attempting to shape policy in the United States. It’s a commonsense step to protect our national security and ensure our government is working in the best interests of the American people,” Peters said.

    Lobbying Disclosure Improvement Act

    Congress created the Lobbying Disclosure Act (LDA) in 1995 to delineate between those lobbying on behalf of foreign governments versus those lobbying for foreign private entities.  The LDA exempts foreign private entity lobbyists from the Foreign Agents Registration Act’s (FARA) more burdensome restrictions. However, the Justice Department currently has no way of knowing which foreign lobbyists claim this exemption.

    The Lobbying Disclosure Improvement Act would make public which foreign lobbyists receive the LDA exemption, ensuring no foreign government actors can fraudulently and secretly represent themselves as non-government actors. This would help the Justice Department narrow the pool of registrants they are examining for potential FARA violations, without imposing any meaningful additional burden on non-government registrants representing foreign private entities.

    Additional cosponsors include Sens. John Cornyn (R-Texas), Dick Durbin (D-Ill.), Maggie Hassan (D-N.H.) and Josh Hawley (R-Mo.).

    Disclosing Foreign Influence in Lobbying Act

    Law enforcement agencies have identified instances in which foreign adversaries exploit an additional loophole in the Lobbying Disclosure Act by using closely connected private organizations and businesses to push their government interests.

    The Disclosing Foreign Influence in Lobbying Act makes clear that lobbying organizations must disclose when foreign governments and political parties participate in their lobbying efforts, regardless of any financial contribution to the lobbying effort

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI Economics: Money Market Operations as on March 06, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,34,789.93 5.92 3.50-6.50
         I. Call Money 14,033.49 6.21 5.15-6.35
         II. Triparty Repo 3,36,760.85 5.87 5.60-6.05
         III. Market Repo 1,82,163.69 5.98 3.50-6.50
         IV. Repo in Corporate Bond 1,831.90 6.14 6.08-6.25
    B. Term Segment      
         I. Notice Money** 163.50 6.13 5.75-6.25
         II. Term Money@@ 156.00 – 6.40-7.25
         III. Triparty Repo 630.00 6.12 6.00-6.15
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Thu, 06/03/2025 1 Fri, 07/03/2025 4,442.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 06/03/2025 1 Fri, 07/03/2025 1,687.00 6.50
    4. SDFΔ# Thu, 06/03/2025 1 Fri, 07/03/2025 1,80,550.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,74,421.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 21/02/2025 14 Fri, 07/03/2025 41,046.00 6.26
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,320.03  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,31,330.03  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     56,909.03  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on March 06, 2025 9,00,344.94  
         (ii) Average daily cash reserve requirement for the fortnight ending March 07, 2025 9,22,740.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ March 06, 2025 4,442.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on February 07, 2025 -1,973.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2013 dated January 27, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2320

    MIL OSI Economics –

    March 7, 2025
  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile

    US Senate News:

    Source: The White House
    CREATING A STRATEGIC BITCOIN RESERVE AND DIGITAL ASSET STOCKPILE: Today, President Donald J. Trump signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, positioning the United States as a leader among nations in government digital asset strategy.
    The Order creates a Strategic Bitcoin Reserve that will treat bitcoin as a reserve asset.
    The Strategic Bitcoin Reserve will be capitalized with bitcoin owned by the Department of Treasury that was forfeited as part of criminal or civil asset forfeiture proceedings.  Other agencies will evaluate their legal authority to transfer any bitcoin owned by those agencies to the Strategic Bitcoin Reserve.
    The United States will not sell bitcoin deposited into this Strategic Bitcoin Reserve, which will be maintained as a store of reserve assets.
    The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies impose no incremental costs on American taxpayers.

    It also established a U.S. Digital Asset Stockpile, consisting of digital assets other than bitcoin owned by the Department of Treasury that was forfeited in criminal or civil asset forfeiture proceedings.
    The government will not acquire additional assets for the U.S. Digital Asset Stockpile beyond those obtained through forfeiture proceedings.
    The Secretary of the Treasury may determine strategies for responsible stewardship, including potential sales from the U.S. Digital Asset Stockpile.

    Agencies must provide a full accounting of their digital asset holdings to the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets.
    This Order ensures a strategic approach to managing digital assets under U.S. control.
    ADDRESSING A CRYPTO MANAGEMENT GAP:
    Bitcoin, the original cryptocurrency, is referred to as “digital gold” because of its scarcity and security, having never been hacked.
    With a fixed supply of 21 million coins, there is a strategic advantage to being among the first nations to create a Strategic Bitcoin Reserve.
    The United States currently holds a significant amount of bitcoin but has not maximized its strategic position as a unique store of value in the global financial system.
    Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion.

    The Executive Order begins to resolve the current disjointed handling of cryptocurrencies seized through forfeiture by, and scattered across, various Federal agencies.
    Currently, no clear policy exists for managing these assets, leading to a lack of accountability and inadequate exploration of options to centralize, secure, or maximize their value.
    Taking affirmative steps to centralize ownership, control, and management of these assets within the Federal government will ensure proper oversight, accurate tracking, and a cohesive approach to managing the government’s cryptocurrency holdings.
    This move harnesses the power of digital assets for national prosperity, rather than letting them languish in limbo.
    DELIVERING ON PLEDGE TO MAKE AMERICA THE CRYPTO CAPITAL OF THE WORLD: President Trump is fulfilling his promise to position America as the global leader in cryptocurrency.
    President Trump promised to make the United States the “crypto capital of the world,” emphasizing the need to embrace digital assets to drive economic growth and technological leadership.
    In his first week in office, President Trump signed an Executive Order to promote United States leadership in digital assets such as cryptocurrency.
    President Trump has consistently advocated for a forward-thinking approach to crypto, stating: “I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field.”
    President Trump promised to create a Strategic Bitcoin Reserve and a Digital Assets Stockpile.
    President Trump appointed a “crypto czar” and is hosting the first-ever crypto summit at the White House, just a few of the many ways this Administration is demonstrating its strong commitment to this digital asset.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: ESTABLISHMENT OF THE STRATEGIC BITCOIN RESERVE AND UNITED STATES DIGITAL ASSET STOCKPILE

    US Senate News:

    Source: The White House
    class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
         Section 1.  Background.  Bitcoin is the original cryptocurrency.  The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, and has never been hacked.  As a result of its scarcity and security, Bitcoin is often referred to as “digital gold”.  Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve.  The United States Government currently holds a significant amount of BTC, but has not implemented a policy to maximize BTC’s strategic position as a unique store of value in the global financial system.  Just as it is in our country’s interest to thoughtfully manage national ownership and control of any other resource, our Nation must harness, not limit, the power of digital assets for our prosperity.  
         Sec. 2.  Policy.  It is the policy of the United States to establish a Strategic Bitcoin Reserve.  It is further the policy of the United States to establish a United States Digital Asset Stockpile that can serve as a secure account for orderly and strategic management of the United States’ other digital asset holdings.
         Sec. 3.  Creation and Administration of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.       (a)  The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the “Strategic Bitcoin Reserve,” capitalized with all BTC held by the Department of the Treasury that was finally forfeited as part of criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any executive department or agency (agency) and that is not needed to satisfy requirements under 31 U.S.C. 9705 or released pursuant to subsection (d) of this section (Government BTC).  Within 30 days of the date of this order, each agency shall review its authorities to transfer any Government BTC held by it to the Strategic Bitcoin Reserve and shall submit a report reflecting the result of that review to the Secretary of the Treasury.  Government BTC deposited into the Strategic Bitcoin Reserve shall not be sold and shall be maintained as reserve assets of the United States utilized to meet governmental objectives in accordance with applicable law.       (b)  The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the “United States Digital Asset Stockpile,” capitalized with all digital assets owned by the Department of the Treasury, other than BTC, that were finally forfeited as part of criminal or civil asset forfeiture proceedings and that are not needed to satisfy requirements under 31 U.S.C. 9705 or released pursuant to subsection (d) of this section (Stockpile Assets).  Within 30 days of the date of this order, each agency shall review its authorities to transfer any Stockpile Assets held by it to the United States Digital Asset Stockpile and shall submit a report reflecting the result of that review to the Secretary of the Treasury.  The Secretary of the Treasury shall determine strategies for responsible stewardship of the United States Digital Asset Stockpile in accordance with applicable law.     (c)  The Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.  However, the United States Government shall not acquire additional Stockpile Assets other than in connection with criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any agency without further executive or legislative action.        (d)  “Government Digital Assets” means all Government BTC and all Stockpile Assets.  The head of each agency shall not sell or otherwise dispose of any Government Digital Assets, except in connection with the Secretary of the Treasury’s exercise of his lawful authority and responsible stewardship of the United States Digital Asset Stockpile pursuant to subsection (b) of this section, or pursuant to an order from a court of competent jurisdiction, as required by law, or in cases where the Attorney General or other relevant agency head determines that the Government Digital Assets (or the proceeds from the sale or disposition thereof) can and should:           (i)    be returned to identifiable and verifiable victims of crime;           (ii)   be used for law enforcement operations;            (iii)  be equitably shared with State and local law enforcement partners; or           (iv)   be released to satisfy requirements under 31 U.S.C. 9705, 28 U.S.C. 524(c), 18 U.S.C. 981, or 21 U.S.C. 881.      (e)  Within 60 days of the date of this order, the Secretary of the Treasury shall deliver an evaluation of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and United States Digital Asset Stockpile going forward, including the accounts in which the Strategic Bitcoin Reserve and United States Digital Asset Stockpile should be located and the need for any legislation to operationalize any aspect of this order or the proper management and administration of such accounts.
         Sec. 4.  Accounting.  Within 30 days of the date of this order, the head of each agency shall provide the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets with a full accounting of all Government Digital Assets in such agency’s possession, including any information regarding the custodial accounts in which such Government Digital Assets are currently held that would be necessary to facilitate a transfer of the Government Digital Assets to the Strategic Bitcoin Reserve or the United States Digital Asset Stockpile.  If such agency holds no Government Digital Assets, such agency shall confirm such fact to the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets within 30 days of the date of this order.  
         Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:          (i)   the authority granted by law to an executive department or agency, or the head thereof; or          (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.     (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.     (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
    THE WHITE HOUSE,    March 6, 2025

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Resolution Designating March 6 as “National Slam the Scam Day” Unanimously Passes Senate

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    Published: March 06, 2025

    Washington, D.C. – Today, U.S. Senator Susan Collins joined Senators Rick Scott (R-FL), Mark Kelly (D-AZ), Kirsten Gillibrand (D-NY), Ashley Moody (R-FL), Richard Blumenthal (D-CT), and Mike Rounds (R-SD) in announcing the designation of March 6, 2025 as “National Slam the Scam Day” following the unanimous Senate passage of their bipartisan resolution to raise awareness of scams targeting older Americans. As one in four people have reported being scammed out of money, and with losses surpassing $10 billion in 2023 alone, this growing issue continues to threaten American seniors’ golden years.

    “‘National Slam the Scam Day’ provides a great opportunity for federal, state, and local officials to raise awareness about common financial scams and deliver a clear message to Americans: hang up and tell someone,” said Senator Collins. “Public awareness is key to stopping these scams from the start. Let’s work together to put nefarious scammers out of business once and for all.”

    The Senators’ resolution highlights the importance of education and prevention efforts aimed at combating financial scams, encouraging Americans to stay vigilant, report suspicious activities and share essential information to protect themselves and others.

    The complete text of the resolution is available here.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Padilla, Schiff Urge Interior Department to Halt Further Workforce Cuts at Bureau of Reclamation

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff Urge Interior Department to Halt Further Workforce Cuts at Bureau of Reclamation

    Senators to DOI: “Rather than decimating the agency and its dedicated staff, Interior should work with Congress to bolster Reclamation’s workforce to meet the growing demands of extreme weather, population growth, and increasing pressures on our water supply systems.”

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.), members of the Senate Environment and Public Works Committee, pushed the Department of the Interior to ensure there are no further federal workforce cuts to the Bureau of Reclamation (Reclamation). The letter comes after the Office of Personnel Management (OPM) issued a memo last week requiring agency heads to submit guidance on large-scale reductions in force and their reorganization plans by March 15. Due to the chaos of the Trump Administration’s reckless cuts, Reclamation is already set to lose about 100 employees in California, which is 10 percent of its regional staff.

    Despite its tradition of operating as a lean agency, Reclamation supports and operates many critical California water management projects and delivers water to more than 31 million Americans and 10 million acres of farmland. This farmland managed by Reclamation produces over 60 percent of the nation’s vegetables and more than 25 percent of its fruits and nuts.

    “Any federal dollars ‘saved’ from a reduction in staffing will ultimately cost taxpayers more through disrupted supply chains, increased burdens on state taxpayers, and emergency response due to the instability created by these reductions,” wrote the Senators. “Aging dams, reservoirs, and conveyance systems require continuous monitoring and maintenance, and without adequate staffing, the risk of infrastructure failures increases. Such failures could have catastrophic consequences, including flooding, water contamination, and severe disruptions to California’s agricultural and urban economies.”

    “We strongly urge you to reconsider the termination of these critical Reclamation employees and halt further workforce reductions at Reclamation,” continued the Senators. “Rather than decimating the agency and its dedicated staff, Interior should work with Congress to bolster Reclamation’s workforce to meet the growing demands of extreme weather, population growth, and increasing pressures on our water supply systems.”

    Padilla and Schiff highlighted three essential water projects that depend on the expertise of Reclamation staff for managing water in the West, where water systems are extremely complex and are closely coordinated with state, tribal, and local authorities:

    • The Klamath Project provides critical water supplies to farms, wildlife refuges, and tribal communities in Oregon and California. Reclamation staff are essential to balancing competing demands for tribal cultural protection, agricultural water deliveries, and ecological health.
    • The Central Valley Project (CVP) operates in tandem with the State Water Project (SWP) to supply water to farms, businesses, and residents. The two systems are deeply interconnected, and CVP staff is essential to SWP operations and water deliveries. The CVP is a federal responsibility, and maintaining full Reclamation staffing is essential to protect California’s water supply and agricultural economy.
    • The Lower Colorado Regional Office operates Hoover Dam — one of the federal government’s most critical infrastructure assets. Its staff provide real-time data and operational oversight that is vital for Colorado River management, and for ensuring reliable water deliveries to three Western states, millions of people, and some of the nation’s most productive farmland.

    The Senators also highlighted concerns from many California water contractors who have warned Interior Secretary Burgum against eliminating essential Reclamation staff with the knowledge necessary to safely and reliably deliver water throughout California. Many of these contractors have emphasized that Reclamation is a service organization, not funded by taxpayers but rather water and power customers.

    Last week, Senators Padilla and Schiff urged the Department of the Interior to immediately stop its freeze of Inflation Reduction Act funding for the Lower Colorado River System Conservation and Efficiency Program, which is managed by the Bureau of Reclamation.

    Full text of the letter is available here and below:

    Dear Secretary Burgum, Acting Commissioner Palumbo, Director Stock, and Director Johnson:

    We write to express serious concerns regarding (i) alleged staff terminations at the Bureau of Reclamation (Reclamation) in California and (ii) the recent Office of Personnel Management (OPM) memo calling for significant federal workforce reductions. On March 3, 2025, it was reported that Reclamation is set to lose about 100 employees in California, which is 10 percent of its regional staff. In the strongest terms, we ask that you provide further information and justification about these reductions and ensure that any additional cuts at the Department of the Interior (Interior) do not further impact Reclamation, an already lean agency that delivers water to more than 31 million Americans and 10 million acres of farmland that produce 60% of the nation’s vegetables and 25% of its fruits and nuts.

    Reclamation staff are indispensable to managing water in the West, where water systems are highly technical, complex, and closely coordinated with state, tribal, and local authorities. For example:

    The Klamath Project provides critical water supplies to farms, wildlife refuges, and tribal communities in Oregon and California. Reclamation staff are essential to balancing competing demands for Tribal cultural protection, agricultural water deliveries, and ecological health.

    The Central Valley Project (CVP) operates in tandem with the State Water Project (SWP) to supply water to farms, businesses, and residents. The two systems are deeply interconnected, making CVP staffing essential to SWP operations and water deliveries. As the CVP is a federal responsibility, Interior must ensure it remains fully staffed to protect California’s water supply and agricultural economy.

    The Lower Colorado Regional Office operates Hoover Dam – one of the federal government’s most critical infrastructure assets. Its staff provide real-time data and operational oversight essential for managing the Colorado River, ensuring reliable water deliveries to three western states, millions of people, and some of the nation’s most productive farmland.

    As a large coalition of California federal water contractors wrote to you in the attached letter, “In our experience, the vast majority of staff throughout Reclamation’s California-Great Basin region is comprised of dedicated, talented federal employees, possessing specialized skills, knowledge, and the relevant and specific experience necessary to safely and efficiently manage, operate and maintain one of the largest, most complex water projects in the world… This knowledge is absolutely essential to assuring the continued safe and reliable delivery of water throughout the state.” The staffing cuts previously made by and deferred resignations conducted through this Administration have already led to the loss of many experienced employees. As the water contractors point out, additional losses will threaten public health and safety and negatively impact the water delivery system for the nation’s largest state economy.

    Any federal dollars “saved” from a reduction in staffing will ultimately cost taxpayers more through disrupted supply chains, increased burdens on state taxpayers, and emergency response due to the instability created by these reductions. Aging dams, reservoirs, and conveyance systems require continuous monitoring and maintenance, and without adequate staffing, the risk of infrastructure failures increases. Such failures could have catastrophic consequences, including flooding, water contamination, and severe disruptions to California’s agricultural and urban economies.

    In light of these challenges, please answer the following questions by March 13, 2025.

    1. What analyses, if any, have been completed to determine the budgetary and broader economic impacts of losing Reclamation employees that have already been or will be lost?

    2. How does Interior plan to make up for the current and anticipated loss of specialized knowledge about California’s water systems, including the CVP, given these terminations?

    3. How will Interior and Reclamation continue to manage, operate, and maintain California’s aging infrastructure in light of these staffing losses?

    4. According to OPM’s FedScope, there were 5,739 employees at Reclamation as of September 2024. How many Reclamation employees are there as of March 6, 2025?

    5. What are the job functions and employment locations of Reclamation employees in California who have been terminated and accepted deferred resignation?

    6. Please describe in detail, the degree to which Mr. Elon Musk and/or representatives from the “Department of Government Efficiency” or “United States DOGE Service” have been involved in any part of these firings within Interior and Reclamation.

    We strongly urge you to reconsider the termination of these critical Reclamation employees and halt further workforce reductions at Reclamation. Rather than decimating the agency and its dedicated staff, Interior should work with Congress to bolster Reclamation’s workforce to meet the growing demands of extreme weather, population growth, and increasing pressures on our water supply systems.

    We welcome the opportunity to further discuss these concerns and would be happy to host you for a visit at any time to give you a tour of California’s vital water infrastructure and introduce you to the outstanding Reclamation staff in California.

    Sincerely,

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI New Zealand: Auckland News – Water Restrictions Threaten Auckland’s Housing Development Pipeline

    Source: WarkWorthWeb

    Auckland’s housing development face a significant hurdle as Watercare, the region’s water and wastewater provider, implements water restrictions across several areas. The move, aimed at managing water supply amid growing demand, has blindsided developers who warn of delays, increased costs, and potential financial strain on the industry.

    The restrictions, which limit the amount of water, stormwater and/or sewer available for new connections, come as Auckland grapples with infrastructure challenges and population growth. Developers in affected areas, including parts of the city’s northwest and south, are now unable to secure water connections for new housing projects, effectively putting developments on hold.

     “This decision has caught many developers off guard”, says Troy Patchett, Director at Subdivide Simplified. “Water & Drainage is obviously a fundamental requirement for any housing project. This will undoubtedly delay the delivery of much-needed housing stock and could push some developers to the brink”. (ref. https://www.subdividesimplified.co.nz/ )

    Patchett emphasised the broader implications for Auckland’s housing crisis. “Auckland is already facing a housing shortage, and these restrictions will only exacerbate the problem. The timing couldn’t be worse, as the city is in desperate need of more affordable, healthy, and accessible housing.”

    Watercare has defended the restrictions, citing the need to balance water supply with increasing demand. A spokesperson for the organisation stated, “Rapid growth in some areas has put pressure on our infrastructure. These restrictions are a necessary step to manage capacity while we work on long-term solutions.”

    Patchett believes the changes could have been handled far better, with a more structured approach to minimise disruption. “A decent lead-in time would have allowed developers to adjust their plans and manage the transition more effectively. Instead, we’ve been hit with a sudden blanket ban, which is causing chaos across the industry,” he said. “Most people were expecting restrictions to be applied on a case-by-case basis, not this sweeping measure that affects entire regions.”

    The decision has sparked calls for better planning and collaboration between Watercare, local councils, and developers. Patchett urged authorities to prioritise infrastructure investment to support growth. “This situation highlights the need for proactive planning and investment in water infrastructure. Without it, Auckland’s growth ambitions will remain constrained,” he said.

    The restrictions have also raised concerns about the financial viability of projects already in the pipeline. Developers who have invested heavily in land and planning now face uncertainty, with some warning of potential losses if the situation is not resolved promptly.

    As Auckland continues to grow, the pressure on its infrastructure will only intensify. The current restrictions serve as a stark reminder of the challenges facing the city and the urgent need for coordinated action to ensure sustainable development.

    For now, developers and homebuyers alike are left in limbo, waiting for clarity on when and how the restrictions will be lifted. In the meantime, the housing crisis shows no signs of abating, and the stakes for Auckland’s future have never been higher.

    MIL OSI New Zealand News –

    March 7, 2025
  • MIL-OSI: Prospera Energy Announces Acquisition of White Tundra Petroleum, Operations Update, and Convertible Debt Repayment Terms

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 06, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera“, “PEI” or the “Corporation“)

    White Tundra Acquisition
    Prospera Energy is pleased to announce a strategic acquisition aimed at expanding its asset portfolio of low-decline base production with significant production upside. The Corporation has entered into an agreement to acquire 100% of the issued and outstanding common shares of White Tundra Petroleum (“WTP”). WTP’s assets produce 30° API medium oil and are located near Loyalist and Hanna, Alberta. The acquisition strengthens PEI’s base production and provides numerous high-impact reactivation opportunities. This transaction is subject to TSXV acceptance.

    As part of the transaction, 18,000,000 common shares of PEI will be issued to WTP shareholders, contingent upon WTP achieving 85 barrels of oil equivalent per day (boe/d) for three consecutive days across its properties. This condition was achieved based on production levels from February 27th to March 1st. A performance-based bonus of 7,312,500 additional shares will be issued if production of 128 boe/d can be demonstrated for at least seven consecutive days within six months from the acquisition date. The Corporation is also assuming $695,000 in debt as part of the transaction.

    Prospera will assume operational oversight of WTP on March 6th, 2025, and immediately deploy a $200,000 workover and reactivation program to optimize production beyond 128 boe/d. The bonus share consideration will be issued following the final statement of adjustments and verification of sustained production levels.

    This transaction qualifies as a related party transaction. Shubham Garg serves as Prospera’s Chairman of the Board, the CEO of WTP, and is a shareholder of WTP. The Corporation has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation. In addition, the related party director has recused himself from all board discussions including the acquisition’s deal structure, valuation, and decisions in relation to this transaction.

    The Corporation has strengthened its corporate governance policies, including full public disclosure of monthly operational updates. These policies are now transparently available on Prospera’s website which include the PEI board mandate, PEI audit committee charter, PEI disclosure policy, ESTMA reports, and PEI related parties policies. This highlights Prospera’s renewed commitment to enhanced transparency, public disclosure, and governance.

    Operations Update:

    Following the February operations update, PEI production continues to increase, exiting February at 878 boe/d (94% oil) which is up 10% from the previously reported February PEI peak production. On March 3rd, Luseland production reached 130 boe/d (100% oil), the highest since December 2023, while Hearts Hill achieved 208 boe/d (86% oil), marking the field’s highest production since November 2019. These milestones reflect the Corporation’s renewed strategic focus on high certainty, low-cost workovers rather than development drilling programs. The Corporation’s two active service rigs are continuing to bring wells online across its Luseland and Hearts Hill properties.

    Convertible Debt
    Prospera is pleased to announce that it has reached a settlement agreement with its convertible debt holders to address the upcoming maturity of its $1,500,000 convertible debt, along with accrued interest of $559,374.82 as of the note maturity date on March 26th, 2025.

    Under the terms of the agreement:

    • The $1,500,000 principal will be refinanced through the issuance of a 12-month promissory note bearing 12% interest, with monthly principal repayments of $250,000 commencing six months after issuance. Interest will be paid as a balloon payment at the end of the term.
    • $200,000 of outstanding interest will be settled through a 12-month convertible note at 12% interest, convertible into PEI common shares at $0.05 per share. Prospera retains the right to pay this note in cash by providing thirty days notice, during which the holder retains the right to convert.
    • The remaining $359,374.82 in accrued interest will be settled through a shares-for-debt agreement at $0.04 per share, subject to TSXV acceptance.

    The convertible debt settlement reduces Prospera’s total fully diluted share count by 30,000,000 common shares, resulting in a net reduction of (17,015,630) shares to Prospera’s fully diluted scenario after accounting for the shares for debt and convertible debt transactions. PEI’s capitalization table is available in its corporate deck at ProsperaEnergy.com.

    About Prospera
    Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

    Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

    Shubham Garg, Chairman of the Board
    Email: sgarg@prosperaenergy.com

    FORWARD-LOOKING STATEMENTS
    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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

    The MIL Network –

    March 7, 2025
  • MIL-Evening Report: Diversity helps: a new study shows more women on boards can improve how businesses are managed

    Source: The Conversation (Au and NZ) – By Ramona Zharfpeykan, Lecturer, Department of Accounting and Finance, University of Auckland, Waipapa Taumata Rau

    Jacob Lund/Shutterstock

    Despite large multinational companies such as Goldman Sachs, Paramount, Google and others removing their diversity, equity and inclusion policies, the evidence is clear: having a diverse team can help businesses make better, more empathetic decisions.

    At the top level, a growing body of research shows having more women on corporate boards leads to better decision-making, stronger governance and improved environmental, social and governance (ESG) performance.

    Yet, progress remains slow – even in New Zealand. Though we rank highly on the Human Development Index, the country lags behind in leadership gender equality.

    Women make up 50.8% of the population and hold 40.8% of parliamentary leadership roles. But they hold only 28.5% of board seats and 26.4% of executive roles in the New Zealand’s Stock Exchange (NZX) top 50 companies (the NZX50).

    And while businesses are encouraged to disclose gender diversity policies by the NZX, there are no mandatory quotas, leaving progress uneven.

    However, change is happening. Our new research looked at the the percentage of female directors in NZX-listed firms between 2016 and 2022.

    What we found is positive. Using information from financial infrastructure and data provider LSEG’s database on global financial markets, we identified a rise in the number of female directors on corporate boards. We also saw a corresponding improvement in the firms’ ESG performance.

    Despite making up 50.4% of the population, women hold only 28.5% of board seats and 26.4% of executive roles in NZX50 companies.
    T. Schneider/Shutterstock

    Boosting performance

    Between 2016 and 2022, the proportion of female directors in NZX-listed firms increased from 26% to 36%. These same businesses saw an average 33% improvement in their ESG performance.

    Notably, governance – one of the key ESG pillars – improved significantly, with a 31% increase on average. Governance specifically refers to the effectiveness of the firm’s management systems, board structure and capacity to protect shareholder interests.

    While it’s not possible to say outright that having more women on the board directly influenced governance outcomes, we saw a positive relationship between the two. This suggests having more women in leadership strengthens corporate oversight and ethical decision making.

    Gender diversity does not have the same level of importance in all contexts. While social and environmental performance also improved, this study found no significant link between a more gender-diverse board and these higher scores in social and environmental performance.

    Our findings are supported by overseas research suggesting board diversity does not strongly influence sustainability outcomes when it comes to issues and groups already covered by legislation.

    Therefore, New Zealand’s proactive stance on issues such as the environment, poverty and human rights, as well as encouraging private companies to improve sustainability and transparency, may explain why board diversity had no notable impact on social and environmental performance in this study.

    What women bring to the business

    Our findings align with studies completed overseas.

    In the US, one study found women business leaders tended to prioritise transparency, fairness and stakeholder interests. This made them strong advocates for sustainable and inclusive business practices.

    It’s clear that addressing the gender gap in corporate New Zealand isn’t just about fairness. It’s about economic success. Businesses that embrace diversity perform better, attract top talent and enhance their reputations.

    The solution isn’t simply about enforcing quotas, but ensuring more qualified women are placed in leadership roles. Companies need to move beyond a “compliance mindset” and recognise true diversity strengthens governance, reduces risk and drives long-term success.

    As the world celebrates International Women’s Day on March 8, businesses need to realise that increasing female representation at the top isn’t just the right thing to do – it’s the smart thing to do.

    Ramona Zharfpeykan 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. Diversity helps: a new study shows more women on boards can improve how businesses are managed – https://theconversation.com/diversity-helps-a-new-study-shows-more-women-on-boards-can-improve-how-businesses-are-managed-251473

    MIL OSI Analysis – EveningReport.nz –

    March 7, 2025
  • MIL-OSI USA: Booker, Warren, Senators Raise Alarm About Reports of X Officials Leveraging Elon Musk’s Government Position to Drive Ad Revenue & Enrich the Billionaire

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker
    WASHINGTON, D.C. – Today, U.S. Senators Cory Booker (D-NJ) and Elizabeth Warren (D-MA) led Senators Richard Blumenthal (D-CT), Adam Schiff (D-CA), and Chris Van Hollen (D-MD) in sending a letter to Attorney General Pam Bondi, raising concerns about reports that Elon Musk’s social media company “X” (formerly Twitter) is leveraging his influential position in the Trump Administration to extract revenue from advertisers and enrich himself. If Musk uses his government position to interfere with federal antitrust enforcement, allegedly threatening to stall or block an advertiser’s merger if they do not pay up, then he risks running afoul of criminal ethics laws.
    In 2023, a wave of advertisers withdrew ads from X after Musk “endorsed an antisemitic post” and loosened content moderation rules in ways that increased inflammatory content on the platform, reportedly costing the company as much as $75 million in ad revenue that year.
    In 2024, as Musk prepared to begin his new role in the federal government, an attorney at X allegedly demanded that the advertising conglomerate Interpublic Group “get its clients to spend more on Elon Musk’s social-media platform, or else.” 
    Interpublic has reportedly interpreted these communications to mean that Musk will leverage his influence over President Trump to stall or block Interpublic’s $13 billion deal to merge with advertising competitor Omnicom Group,” weaponizing federal antitrust enforcers, the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ).
    In the first letter, the Senators raise concerns that “X officials could … be attempting to strike a quid-pro-quo deal, pressuring Interpublic to get its clients to spend a certain amount on advertising on X in exchange for directing President Trump to use his antitrust enforcement agencies to allow Interpublic’s merger with Omnicom to proceed.”
    “The fear that the FTC and DOJ could be used in such a way is not unfounded. There is precedent for the Trump Administration weaponizing federal antitrust enforcers to punish his perceived opponents. During his first term, President Trump allegedly interfered with the AT&T-Time Warner merger, in which the DOJ sued to block the merger, to punish CNN for the news agency’s reporting on the President,” wrote the Senators.
    The Senators request that the FTC and DOJ inform the undersigned of any attempts made by Elon Musk or his associates to interfere with federal antitrust enforcement writing, “The federal government’s antitrust enforcers should be prioritizing lowering costs for American consumers, empowering workers, and supporting small businesses. They should not be weaponized by wealthy business owners to put more money in the hands of billionaires or retaliate against American businesses.”
    Additionally, in a related letter sent today, the senators urge Attorney General Pam Bondi to investigate Special Government Employee Elon Musk if he uses his government position to protect those who engage in business with him as he would risk violating criminal ethics laws.  
    “Musk is not above the law by virtue of being the world’s richest man,” continued the senators. “If evidence emerges that Musk is, in fact, using his official role to coerce advertisers or is participating in particular matters in which he has a financial interest, we ask that DOJ investigate the potential violation of federal ethics laws, as the Department should for any other federal employee who appears to be breaking the law.”
    To read the full text of the letter, click here and here.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: VIDEO: Senator Peters Calls for Passage of the PRO Act to Protect American Workers’ Right to Organize

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    Published: 03.06.2025
    Peters Again Cosponsored and Helped Reintroduce the Bill to Support Workers in Michigan and Across the Country

    WASHINGTON, DC – U.S. Senator Gary Peters (MI) called for passage of the Protecting the Right to Organize (PRO) Act, comprehensive legislation to protect workers’ right to stand together and bargain for higher wages, better benefits, and safer workplaces. The PRO Act, which Peters again cosponsored and helped reintroduce this Congress, would restore fairness to the economy by strengthening the federal laws that protect workers’ right to join a union freely and fairly.
    “Labor unions created the American middle class,” said Senator Peters. “The PRO Act will make it easier for folks to organize, to become a member of a union, and be able to stand up for the rights that they deserve. I come from a union household. My parents were both members of the union. I am who I am because of the love and support that they gave me, and the fact that they were part of a union allowed them to provide for my future. That’s why we’ve got to pass the PRO Act.”

    To watch the video, click here.
    The PRO Act, which Peters previously spoke in favor of on the Senate floor, would protect every American’s right to organize in their workplace and collectively bargain. The bill specifically includes measures that would:
    Hold employers accountable for violating workers’ rights by authorizing meaningful penalties, facilitating initial collective bargaining agreements, and closing loopholes that allow employers to misclassify their employees as supervisors and independent contractors.
    Empower workers to exercise their right to organize by strengthening support for workers who suffer retaliation for exercising their rights, protecting workers’ right to support secondary boycotts, ensuring workers can collect “fair share” fees, and authorizing a private right of action for violation of workers’ rights.
    Secure free, fair, and safe union elections by preventing employers from interfering in union elections, prohibiting captive audience meetings, and requiring employers to be transparent with their workers.
    Peters grew up in a union household, where his mother was a Service Employees International Union (SEIU) steward, and his father was a member of the National Education Association (NEA). During his annual motorcycle tour across Michigan last year, Peters met with local union members and retirees at IBEW Local 131 in Kalamazoo to underscore the need to protect workers’ right to collectively bargain. Peters also joined UAW members on the picket line in Michigan as they negotiated for better wages, benefits, and job security. Then, following the UAW’s historic contracts in 2024, Peters led his colleagues in sending a letter to 13 non-unionized automakers urging them not to illegally block UAW unionization efforts at their manufacturing plants. Peters invited UAW Region 1 Director LaShawn English to be his guest for the 2024 State of the Union Address last year.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Crapo: Faulkender Highly Qualified to Serve as Deputy Treasury Secretary

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–During a U.S. Senate Finance Committee hearing to consider the nomination of Michael Faulkender to be Deputy Secretary of the Treasury, Chairman Mike Crapo (R-Idaho) praised Mr. Faulkender’s qualifications, saying, in part, “Based upon your public and private sector experience, academic credentials and areas of focus and training, you are highly qualified to serve as Deputy Treasury Secretary in this Administration,” adding that he looked forward to supporting his nomination.   

    During the hearing, Chairman Crapo underscored the importance of eliminating waste, fraud and abuse in federal spending.  Mr. Faulkender outlined ongoing initiatives aimed at enhancing the effectiveness of financial systems, modernizing the Internal Revenue Service (IRS) to better serve taxpayers and strengthening federal accountability measures. 

    Watch Senator Crapo’s opening statement here and line of questioning here.

    On President Trump’s efforts to improve government efficiency

    Crapo: I am sure you have noticed the daily news on President Trump’s efforts to improve the efficiency of the federal government and get rid of waste, fraud and abuse.  Though I understand you have a very limited role currently in advising Secretary Bessent on these issues, I would like to give you an opportunity to provide your perspective on these efforts.  For example: what is your understanding of the focus of the President’s efforts?  How does one ensure that taxpayer money is well spent? 

    Faulkender: . . . It’s my understanding that the objective is to improve the effectiveness of those systems and provide modern levels of customer service, privacy and collections at the IRS. . . . The purpose of [these improvements] is to help departments’ matrices better understand how money is being spent and be more accountable to Congress and the American people for those funds.

    On IRS modernization

    Crapo: . . .  I understand the President and Treasury Secretary Bessent are interested in taking a different approach at the IRS, both by trimming waste and also planning for and investing in real technological change.  I also understand that all evaluation and modernization work will be undertaken using usual and customary safeguards, including not exposing any taxpayer’s personally identifiable information.  I also understand Secretary Bessent is fully committed to ensuring tax filing season will not be disrupted by these processes.  Can you confirm my understanding and provide additional detail about efficiency and modernization activities at the IRS? 

    Faulkender: Yes, Mr. Chairman, the Secretary’s objective is to ensure that the American people realize a “2025 experience” when they interact with the IRS, and he has prioritized collection, customer service and privacy.  The challenge that we have is that both Democrat and Republican Administrations have recognized that the technology at the IRS is built on top of 1960s systems. . . . What we’re doing is asking for a review of what systems are being built at the IRS.  We have people who have worked with financial institutions and technology companies who understand how to build modern systems architecture . . .  to ensure that the right systems architecture is being created to provide that level of 2025 service to the American people.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI China: EU leaders greenlight defense plans

    Source: China State Council Information Office 3

    Ukraine’s President Volodymyr Zelensky arrives at the European Union headquarters in Brussels, Belgium, on Feb. 9, 2023 for the EU member states’ special summit. [Photo/Xinhua]

    European Union (EU) leaders on Thursday greenlighted plans to enhance the bloc’s defense capabilities and reaffirmed their support for Ukraine.

    At a one-day special summit here, the leaders endorsed the ReArm Europe plan introduced by European Commission President Ursula von der Leyen on Tuesday.

    The EU leaders agreed to activate the national escape clause under the Stability and Growth Pact in a coordinated manner, which allows for increased defense spending and provides immediate budgetary flexibility across EU member states, according to a statement released after the meeting.

    They called on the Commission to explore further measures, while ensuring debt sustainability, to facilitate significant defense spending at the national level in all member states.

    The leaders also acknowledged the Commission’s proposal for a new EU instrument that would offer member states up to 150 billion euros (161.8 billion U.S. dollars) in loans backed by the EU budget, according to the statement. They urged the European Council to “examine this proposal as a matter of urgency.”

    Trump has been pressing European partners to take more responsibility for their own defense, warning that the U.S. may not protect its North Atlantic Treaty Organization (NATO) allies who fail to meet spending targets. His remarks have raised concerns in the EU, prompting calls for stronger collective defense efforts.

    In a separate statement, 26 EU leaders expressed their support for Ukraine, with Hungarian Prime Minister Viktor Orban notably absent from the agreement.

    The leaders approved the bloc’s stance that there can be no negotiations on Ukraine without Ukraine and that the Europeans must be involved in any talks involving their security. The EU has recently found itself sidelined in the peace talks, while the U.S. takes center stage in the negotiations.

    They also vowed to continue financial support for Ukraine, committing 30.6 billion euros in 2025. Of this, 12.5 billion euros will be disbursed through the Ukraine Facility, while 18.1 billion euros will come from profits generated from immobilized Russian assets, according to the statement. (1 euro = 1.08 U.S. dollar)

    MIL OSI China News –

    March 7, 2025
  • MIL-OSI New Zealand: Deep concerns about undue influence at NZME – E tū

    Source: Etu Union

    E tū is deeply concerned by comments made by NZME investor and billionaire James Grenon, that he wants to replace the board of directors with four new people – including himself.

    Grenon owns a 9.3% stake in NZME, and has been a controversial figure in the media landscape.

    NZME delegate Isaac Davison said the takeover proposal created significant uncertainty about the company’s potential direction and the newsroom’s editorial independence. 

    “Our top priority is preserving the impartiality of our journalism and the independence of the newsroom,” Isaac says.

    “E tū journalists follow a code of ethics which includes a commitment to reporting and interpreting the news with “scrupulous honesty” and without fear or favour. 

    “While the intentions of the potential new board members remain unclear, we are concerned about an apparent record of backing news ventures which lack transparency. 

    “Further, NZME is in the last stages of a major change process which has had a profound impact on staff morale. We believe it is a time for consistency and stability rather than more uncertainty.”

    E tū Director Michael Wood says that Grenon has a clear agenda to use NZME for his own interests.

    “Mr Grenon clearly wants to use his financial clout to steer the editorial direction of one of New Zealand’s largest and most important media networks,” Michael says.

    “While changes to media ownership in New Zealand are common, there is not any recent example of an extremely wealthy individual seeking to use an ownership stake to steer public discourse in the way that Mr Grenon, based on his track record, seems to be attempting.

    “These concerns are heightened by a lack of transparency. When his initial stake in NZME was revealed, Mr Grenon indicated that he was not intending to make any further moves, yet within a week it has been reported that he is working closely with an NZ On Air board member and a high-profile businessman to take over the board.

    “The idea that a shadowy cabal, backed by extreme wealth, is planning to take over such an important institution in our democratic fabric should be of concern to all New Zealanders.”

    Michael calls on the current board to re-affirm its commitment to the editorial independence of NZME’s publications.

    “While there is clearly a commercial process to play out, we must protect the rights of NZME journalists to report free from undue interference. We urge other shareholders to think carefully about the impact on the value and standing of NZME if they allow it to be turned into a plaything for the agendas of billionaires like Mr Grenon.”

    MIL OSI New Zealand News –

    March 7, 2025
  • MIL-OSI China: UK finalizes deal to supply attack drones to Ukraine

    Source: China State Council Information Office

    British Prime Minister Keir Starmer (L) shakes hands with visiting Ukrainian President Volodymyr Zelensky in front of 10 Downing Street in London, Britain, March 1, 2025. [Photo/Xinhua]

    The United Kingdom (UK) has finalized a 30 million pounds (38.70 million U.S. dollars) deal with defense tech company Anduril to supply Ukraine with advanced attack drones, the Ministry of Defence said in a statement on Thursday.

    The agreement was secured during UK Defense Secretary John Healey’s visit to Anduril’s Washington D.C. facility ahead of talks with U.S. Defense Secretary Pete Hegseth at the Pentagon.

    Under the deal, Ukraine will receive Altius 600m and Altius 700m drones, classified as “loitering munitions” capable of surveilling designated areas and striking targets. Deliveries of drones, launchers, and spare parts will commence in the coming months, the statement said.

    The deal is funded through the UK-administered International Fund for Ukraine (IFU), which is supported by pledges from 10 nations, now totals 1.3 billion pounds, with the UK contributing 500 million pounds.

    The agreement comes amid concerns over the U.S. decision to halt intelligence-sharing with Ukraine, potentially hampering Kyiv’s access to critical data.

    The UK has emphasized its continued military support for Ukraine. Since July 2024, the UK has provided over 5.26 billion pounds in military and financial aid to Ukraine, including 10,000 drones already deployed. (1 pound = 1.29 U.S. dollar)

    MIL OSI China News –

    March 7, 2025
  • MIL-OSI China: China’s 2025 growth target balances necessity, feasibility: experts

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

    BEIJING, March 6 — China’s economic growth target of around 5 percent for this year takes into account domestic and international conditions and balances both necessity and feasibility, according to experts.

    It is necessary to maintain a certain level of economic growth to ensure stable employment, mitigate risks and improve people’s livelihoods, Huang Lianghao, an official with the Research Office of the State Council, said in the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

    Since China introduced a comprehensive package of incremental policies last year, the economy has experienced a significant rebound, and this positive trend has been further consolidated and expanded since the beginning of this year, said Huang.

    Over the years, the country has accumulated many positive factors and favorable conditions for growth, he said, adding that new technological breakthroughs are emerging at a faster pace, new industries and growth drivers are accelerating, and domestic demand is expanding rapidly, all of which lay a solid foundation for future development.

    Premier Li Qiang on Wednesday announced the annual economic growth target when delivering the government work report to the annual session of the National People’s Congress for deliberation.

    According to the report, China will adopt a more proactive fiscal policy and a moderately loose monetary policy, which Huang said will provide strong policy support for economic growth.

    The moderately loose monetary policy will help lower corporate financing costs and enhance liquidity, said Jin Li, a national political advisor and vice president of Southern University of Science and Technology.

    Emerging industries and consumer sectors, including artificial intelligence, low-altitude economy and digital economy, are expected to receive stronger support, injecting new vitality into China’s high-quality economic development, said Jin.

    MIL OSI China News –

    March 7, 2025
  • MIL-Evening Report: A late start, then a big boom: why it took until 1975 for Australians to finally watch TV in colour

    Source: The Conversation (Au and NZ) – By Stephen Gaunson, Associate Professor in Cinema Studies, RMIT University

    Youtube/Austvarchive

    Some 50 years ago, on March 1 1975, Australian television stations officially moved to colour.

    Networks celebrated the day, known as “C-Day”, with unique slogans such as “come to colour” (ABC TV), “Seven colours your world” (Seven Network), “living colour” (Nine Network) and “first in colour” (0-10 Network, which later became Network Ten). The ABC, Seven and Nine networks also updated their logos to incorporate colour.

    For most viewers, however, nothing looked much different. The majority owned a black and white TV, while a coloured broadcast required a colour TV set.

    Advertisers were initially reluctant to accept the change, which required them to re-shoot black and white commercials with colour stock at a significantly higher cost.

    Many reasoned viewers were still watching the ads in black and white. And initially this assumption was correct. But by nine months later, 17% of Australian homes had a colour receiver. This rose to 31% by July 1976.

    By 1978, 64% of Melbourne and 70% of Sydney households owned colour TV sets, making Australia one of the world’s fastest adopters of colour TV.

    According to the Federation of Australian Commercial Television Stations (FACTS) annual report for 1975–76, colour TV increased overall viewership by 5%, with people watching for longer periods.

    The 1976 Montreal Olympics also led to an increase in TV sales, with the colour broadcast shared between the ABC, Seven and Nine.

    Highlights from the Montreal 1976 Olympic Games marathon event.

    A late start

    With the United States introducing colour TV from 1954, it’s peculiar that Australia took so long to make the transition – especially since conversations about this had been underway since the 1960s.

    In 1965, a report outlining the process and economic considerations of transitioning to colour was tabled in parliament.

    Feedback from the US highlighted problems around broader acceptance in the marketplace. Colour TV sets were expensive and most programs were still being shot in black and white, despite the availability of colour.

    Networks were the most hesitant (even though they’d go on to become one of the most major benefactors). In 1969, it was estimated transitioning to colour would cost the ABC A$46 million (the equivalent of $265,709,944 today) over six years.

    The federal government, led by then prime minister Robert Menzies, decided to take a cautious approach to the transition – allowing manufacturers, broadcasters and the public time to prepare.

    The first colour “test” broadcast took place on June 15 1967, with live coverage of a Pakenham country horse racing event in Victoria (although few people would have had coloured TV sets at this point).

    Other TV shows also tested broadcasting in colour between 1972 and 1974, with limited colour telecasts aired from mid-1974. It wasn’t until March 1975 that colour TV was being transmitted permanently.

    ‘Aunty Jack Introduces Colour’ was a one-off television special of The Aunty Jack Show, broadcast on the ABC on February 28 1975.

    The cinema industry panics

    Australia’s involvement in the Vietnam War created further urgency to televise in colour. With the war ending in April 1975, Australians watched the last moments in colour.

    Other significant events broadcast in colour that year included the December federal election, in which Malcolm Fraser defeated Gough Whitlam after the latter was dramatically dismissed as prime minister on November 11.

    With the public’s growing interest in colour TV, local manufacturers began lobbying for higher tariffs on imports to encourage domestic colour TV production.

    In the mid 1970s, a new colour set in Australia cost between $1,000 and $1,300, while the average full-time annual income was around $8,000. Still in the throes of a financial recession, customers began seeking out illegally-imported colour TV sets – which were appearing at car boot markets across the country.

    British childrens show The Wombles came to Australian screens shortly after colour TV was introduced.

    The government also created an advertising campaign warning the public of scammers who would offer to convert black-and-white TVs to colour. These door-to-door “salesmen” claimed to have a special screen which, when placed over a TV, would magically turn it colourful.

    By 1972, the estimated cost of upgrading broadcasting technology to colour had reached $116 million. The cinema industry, in a panic, even questioned whether colour TV could damage a viewer’s eyesight.

    The industry had previously suffered huge losses in cinema attendance with the introduction of black-and-white TV from 1956. Cinemas had a monopoly on colour and were petrified over what the introduction of colour to television could do to their attendances.

    Such fears were founded. In 1974 Australia had 68 million admissions to the cinema. By 1976, there were just 28.9 million admissions. Never again would yearly cinema admissions reach above 40 million.

    But despite the complaints – from the cinema industry, advertisers, broadcasters and manufacturers – audiences were ready for colour. And any network that dared to program in black and white would subject itself to a barrage of annoyed viewers.

    Colour TV was here to stay.

    Stephen Gaunson 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. A late start, then a big boom: why it took until 1975 for Australians to finally watch TV in colour – https://theconversation.com/a-late-start-then-a-big-boom-why-it-took-until-1975-for-australians-to-finally-watch-tv-in-colour-251363

    MIL OSI Analysis – EveningReport.nz –

    March 7, 2025
  • MIL-OSI USA: Reed Cries ‘Fowl’ Over Big Corporate Egg Producers Padding Profits & Stock Buybacks at the Expense of Consumers & Taxpayers

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – The top five egg producing companies in the U.S. own almost half of all egg-laying commercial hens. 
    While consumers and small businesses are feeling the pain from high egg prices at restaurants and supermarkets, the largest egg conglomerates are doing remarkably well.  One egg company which produces one in every five eggs eaten in the U.S. has seen profits soar to record heights and is issuing exponentially higher shareholder dividends than it did before the outbreak and egg price increases.
    U.S. Senator Jack Reed (D-RI) says something smells rotten and wants the Trump Administration to ensure the biggest corporate egg producers in the highly concentrated egg industry aren’t unfairly padding their profits, contributing to inflated prices, and then turning around and feathering their C suites with stock buybacks that are subsidized by U.S. taxpayers and windfall profits. 
    Reed, who has led efforts to crack down on egg price gouging since 2023, is urging the U.S. Department of Agriculture (USDA) “to ensure that taxpayer funding intended to fight the avian flu outbreak is used responsibly to eradicate the disease and lower the cost of eggs, and does not go to publicly traded companies that are conducting stock buybacks.” 
    Senator Reed sent a letter today to the head of the USDA expressing deep concern about the impact that the avian flu outbreak is having on the price of eggs and American consumers.  Reed noted USDA has exacerbated this problem by recently laying off key workers on the frontlines of combating avian: “Since President Trump took office, the price of a dozen eggs has nearly doubled, and the Administration fired several employees working to combat avian flu.  While the Administration has since announced a new effort to rehire those employees and invest in solutions, it must do better to coordinate an effective response that actually results in lower prices for Americans.”
    The avian flu outbreak has proven to be incredibly profitable for Cal-Maine Foods Inc., the nation’s largest egg producer and distributor.  Due to the fact that Cal-Maine Foods Inc. is a publicly-traded egg producer, it must report basic financial data.  Last month, Cal-Maine reported price hikes have been good for business: generating over $350 million in gross quarterly profits, a fourfold increase from a year prior.  With the excess profits, Cal-Maine executives announced a $500 million stock buyback program, which enriches corporate executives and wealthy investors while consumers continue paying record prices.
    Stock buybacks are a controversial financial maneuver by large corporations that remove shares from the market and enable a company to increase its share price and earnings per share and offset dilution when executives exercise stock options or when insiders want to sell their shares. Until 1982, buybacks were uncommon and generally considered a form of market manipulation. But during the Reagan Administration, when the Securities and Exchange Commission (SEC) adopted rule 10b-18 that year, it gave large companies a “safe harbor” to buy back stock.
    Despite its tremendous profits, and the fact that Cal-Maine has 75 percent more hens than the next largest company, Cal-Maine received $44 million in USDA indemnity payments to compensate for bird deaths due to the avian flu outbreak.
    Reed’s letter states that USDA“should ensure the funding it does make available for the avian flu response is used effectively to help producers who need it most – not highly-profitable companies.  A company that has earmarked hundreds of millions of dollars of cash on-hand and expected earnings for stock buybacks also has the resources to recover from losses and implement biosecurity measures without taxpayer assistance.” 
    While USDA Secretary Brooke Rollins outlined a plan to invest $1 billion in curbing avian flu, that figure represents about half of what the Biden Administration was spending to tackle the problem.  And coupled with the USDA layoffs, the Trump Administration’s inadequate attention to the problem is exacerbating the situation.
    “Donald Trump said he’d bring down egg prices on day one.  Since he took office, the price of a dozen eggs has nearly doubled.  I guess the “yolk” is on every consumer and business who are now paying a higher price,” said Senator Reed.  “Trump finds time to bully America’s allies and trading partners, but he chickens out when it comes to antitrust enforcement and special interests.  He won’t take five minutes to call the top egg producers together to ensure consumers are getting a fair deal and egg prices aren’t manipulated to artificially high levels.”
    Full text of the letter follows:
    March 6, 2025
    The Honorable Brooke Rollins, Secretary
    U.S. Department of Agriculture
    1400 Independence Ave., S.W.
    Washington, DC 20250
    Dear Secretary Rollins:
    I write to urge you to ensure that taxpayer funding intended to fight the avian flu outbreak is used responsibly to eradicate the disease and lower the cost of eggs, and does not go to publicly traded companies that are conducting stock buybacks. 
    As I wrote to you before your confirmation, I am deeply concerned about the impact that the avian flu outbreak is having on the price of eggs and American consumers.  I am also concerned about the effects of possible price gouging by large egg producers, which I expressed in a previous letter to the Biden Administration.  Since President Trump took office, the price of a dozen eggs has nearly doubled, and the Administration fired several employees working to combat avian flu.  While the Administration has since announced a new effort to rehire those employees and invest in solutions, it must do better to coordinate an effective response that actually results in lower prices for Americans.
    A key piece of this effort includes ensuring taxpayer dollars are invested wisely and effectively.  In your first two weeks on the job, you visited a Cal-Maine Foods facility in Bogata, Texas to view the company’s implementation of biosecurity measures to prevent the spread of avian flu.  You may know that Cal-Maine Foods is the largest U.S. egg producer and recently announced in a SEC filing that it is spending up to $500 million to buy back shares for the benefit of the founder’s family.  Cal-Maine last month also reported over $350 million in gross quarterly profits, a fourfold increase from a year prior.  Despite its tremendous profits, last year the company received $44 million in USDA indemnity payments to compensate for bird deaths due to the avian flu outbreak.
    As the Trump Administration limits federal resources, including for USDA, it should ensure the funding it does make available for the avian flu response is used effectively to help producers who need it most – not highly-profitable companies.  A company that has earmarked hundreds of millions of dollars of cash on-hand and expected earnings for stock buybacks also has the resources to recover from losses and implement biosecurity measures without taxpayer assistance. 
    I appreciate your attention to this important issue, and look forward to your prompt reply.
    Sincerely,

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Senators Baldwin, Collins Introduce Bipartisan Legislation to Support the Health and Wellbeing of Family Caregivers

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WASHINGTON, D.C. – U.S. Senators Tammy Baldwin (D-WI) and Susan Collins (R-ME) introduced bipartisan legislation to support the health and wellbeing of family caregivers. The Lifespan Respite Care Reauthorization Act of 2025 would reauthorize the Lifespan Respite Care program through fiscal year 2030.

    “I was proud to serve as the primary caregiver for my grandmother as she got older, which is why I understand firsthand the financial and emotional strain of taking care of a loved one,” said Senator Baldwin. “I’m proud to work with Republicans and Democrats to deliver some much-needed relief and support for family caregivers so that when Americans step up to keep their loved ones safe and well at home, they can be confident we have their backs.”

    “Caregivers provide an estimated $600 billion in uncompensated care each year. Yet, an astounding 85 percent of caregivers have not received any respite services at all. I saw this in my own family, where my mother took care of my father who was suffering from Alzheimer’s disease for eight years. Respite care was almost nonexistent for her, other than that provided by family members,” said Senator Collins. “Respite care helps to reduce mental stress and physical health issues that caregivers may experience, keeping them healthy and families intact. This bill would help give family caregivers and their loved ones the support they need by ensuring that quality respite is available and accessible.”

    Specifically, the Lifespan Respite Care Reauthorization Act of 2025 would:

    1. Reauthorize the Lifespan Respite Care program at current appropriations levels for five years (FY25-30); and
    2. Clarify that youth caregivers (those under 18 who are providing care or helping to provide care to family members) are eligible for the program.

    According to AARP, more than a third of family caregivers report wanting support like respite services, yet only 14 percent receive them, even as research indicates that caregivers who use respite have lower caregiver distress and better health and sense of well-being.

    Respite care provides temporary relief to caregivers from their ongoing responsibilities. By protecting the health of caregivers, respite care decreases the need for professional long-term care and allows individuals who require care to remain at home. To date, 38 states have received funding through the Lifespan Respite Care program, which provides competitive grants to states to establish or enhance statewide respite resources and help ensure that quality respite is available and accessible to all family caregivers.

    Senators Baldwin and Collins championed legislation in 2020 to authorize the Lifespan Respite Care program through fiscal year 2024. The Lifespan Respite Care Reauthorization Act of 2025 would reauthorize this programming through fiscal year 2030.

    In addition to the ARCH National Respite Coalition, this bill is endorsed by the Autism Society of America and the Alzheimer’s Association.

    Full text of the legislation can be found here.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Padilla, Markey Introduce Bipartisan, Bicameral Bill to Secure Fair Pay for Truckers Working Overtime

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Markey Introduce Bipartisan, Bicameral Bill to Secure Fair Pay for Truckers Working Overtime

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla (D-Calif.) and Edward J. Markey (D-Mass.), along with U.S. Representatives Mark Takano (D-Calif.-39) and Jeff Van Drew (R-N.J.-02), introduced bipartisan, bicameral legislation to ensure that truckers are compensated fairly for the hours that they are on the clock, including overtime. The Guaranteeing Overtime for Truckers Act would repeal the motor carrier provision of the Fair Labor Standards Act of 1938, which excludes many truckers from overtime protections enjoyed by other workers.

    In response to an Executive Order by former President Biden, the U.S. Department of Transportation issued a Freight and Logistics Supply Chain Assessment in February 2022, which highlights high turnover rates and compensation issues in the trucking industry. Among its recommendations, the Department called on Congress to repeal the motor carrier provision of the Fair Labor Standards Act of 1938 to allow truckers to earn fair overtime pay.

    “America’s truck drivers are on the frontlines of our economy, enduring long hours away from home, and all too often, unpaid wait times at congested ports and warehouses. Unfortunately, truck drivers have been excluded from overtime pay protections for decades,” said Senator Padilla. “If truckers are forced to wait while on the job, they should be paid. This is not just a matter of fairness; it’s a matter of public safety. Experienced truckers are safer truckers, and better compensation and overtime pay will help more of them stay in the profession.”

    “Truck drivers are the engines of our economy, making sure that our supply chain keeps moving at full speed, and yet they are denied the fundamental worker protection of overtime. The Guaranteeing Overtime for Truckers Act would reverse this injustice and ensure that truck drivers are paid their due,” said Senator Markey.

    “Truckers are vital for our supply chain, manufacturing, and the American way of life,” said Representative Takano. “It is unfair that they are singled out as somehow unworthy of overtime pay. This legislation will help right that wrong and make sure they are fairly compensated for the hours they work. I am proud to partner with Congressman Van Drew and Senator Padilla to build up workers and guarantee more money in their paychecks.”

    “Truck drivers keep our supply chain moving, often working long, exhausting hours to make sure goods get where they need to go,” said Representative Van Drew. “But right now, they are not guaranteed overtime pay like most other workers. It is just not right. The Guaranteeing Overtime for Truckers Act is a simple fix—it ensures that truckers are fairly compensated for the extra hours they put in. These men and women do critical work, and it’s time we make sure their pay reflects that.”

    “The exclusion of truck drivers from federal overtime protections must come to an end,” said Teamsters General President Sean M. O’Brien. “The Teamsters Union is proud to support the Guaranteeing Overtime for Truckers Act, which will right the decades long wrong that serves only to harm drivers to the benefit of their employers.”

    “America’s truckers are the backbone of our economy, keeping goods moving and ensuring our supply chain stays strong,” said Owner-Operator Independent Drivers Association President Todd Spencer. “Yet, despite their essential role, trucking remains one of the few professions in America denied guaranteed overtime pay. It’s long past time the hard work of the men and women behind the wheel are fairly compensated. By discounting a trucker’s time, ‘big trucking’ has driven wages downward, treating truckers as disposable rather than the skilled professionals they are. We appreciate Representative Van Drew, Representative Takano, and Senator Padilla for championing the bipartisan GOT Truckers Act, which will right this wrong by securing overtime pay. This legislation is an investment in truckers, road safety, and the strength of America’s supply chain.”

    In addition to Senators Padilla and Markey, the legislation is cosponsored by Senators Richard Blumenthal (D-Conn.), Elizabeth Warren (D-Mass.), and Ron Wyden (D-Ore.).

    The Guaranteeing Overtime for Truckers Act is supported by Teamsters and the Owner-Operator Independent Drivers Association.

    Senator Padilla is a longtime advocate for improving workplace safety standards and helping workers secure fair wages. In the aftermath of the Southern California fires, Padilla introduced the bipartisan Firefighter Paycheck Protection Act to protect wildland firefighter pay and provide long-term workforce stability. Additionally, he introduced the Wildland Firefighter Fair Pay Act to permanently raise the caps on overtime premium pay for federal wildland firefighters. Previously, Padilla introduced the Fairness for Farm Workers Act, legislation to update the nation’s labor laws to ensure farm workers receive fairer wages and compensation. In 2023, Padilla announced the Asunción Valdivia Heat, Illness, Injury and Fatality Prevention Act to protect the safety and health of workers who are exposed to dangerous heat conditions in the workplace. Padilla is also a proud cosponsor of the Protecting the Right to Organize (PRO) Act of 2025.

    Full text of the bill is available here.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Murphy: Billionaires Don’t Need Public Schools, But Millions Of Americans Do

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    March 06, 2025

    [embedded content]
    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.) on Thursday joined Senate Democrats for a media availability following reports that President Trump will soon sign an executive order abolishing the U.S. Department of Education. Murphy slammed the plan as a dangerous move that would hurt families across the country and prioritize profits for the billionaire and corporate class over ensuring every kid in America has access to a quality education.
    Murphy blasted the out-of-touch billionaires in the Trump Administration who are dismantling programs ordinary Americans rely on: “The billionaires that are in charge of our government right now send their kids to the most elite private schools, and if every public school disappears in this country, they will still be able to get their kids an education. And it’s consistent with the entire way they are approaching the first six months of this administration. Billionaires don’t need Medicaid. So, to them, it doesn’t matter if Medicaid disappears, and rural hospitals close and addiction treatment centers shutter their doors– because the billionaires will still get their healthcare. They talk about Social Security being a Ponzi scheme. They’re shutting down Social Security offices around the country because they don’t need Social Security. They’re billionaires–they’re never going to need a Social Security check – like millions of American seniors do – in order to put food on the table.”
    Murphy tore into Trump and his corporate backers for prioritizing their tax cut over meeting the basic needs of working-class Americans: “All that matters is hoarding as much money – stealing as much money – from middle class and poor families in this country, so that they can pass that money along to the billionaires, the millionaires, and the corporations. Everything that they are doing is about making sure that they shrink the parts of government that help regular people, so that they can pass along more benefits and more help to their billionaire friends.”
    Murphy condemned the administration for trying to sell off America’s public schools to the highest bidder at the expense of millions of families: “The voucher program that they are talking about, that they will be more easily able to implement if the Department of Education is gone, is really about just making it easier for the billionaire and corporate class to be able to buy up our schools, so that they can make money off of it like they make money off of the Medicare program, like they make money off of so many other aspects of our government. So if the Department of Education closes, it’s going to hurt millions of families in this country– it is just going to enable the theft of resources from regular families to pad the pockets of the billionaires – but is also likely to result in you waking up one day and finding out that your local elementary school that your kids go to is owned by a private equity firm on the other side of the country and is being run for profit instead of being run for the education of your kids.”
    A full transcript of his remarks can be found below:
    MURPHY: “Thanks, Chuck, for gathering us here today. So, nobody wants this. Nobody in America wants the destruction of public education. The plan to eliminate the Department of Education is wildly unpopular in this country except for a handful of people on the fringy right. So the question is, why are they doing it? 
    “I think Bernie’s point is really important. Billionaires do not need public schools. Billionaires don’t understand the magic that happens in public schools. The billionaires that are in charge of our government right now send their kids to the most elite private schools, and if every public school disappears in this country, they will still be able to get their kids an education. 
    “And it’s consistent with the entire way they are approaching the first six months of this administration. Billionaires don’t need Medicaid. So to them, it doesn’t matter if Medicaid disappears and rural hospitals close and addiction treatment centers shutter their doors– because the billionaires will still get their healthcare. 
    “They talk about Social Security being a Ponzi scheme. They’re shutting down Social Security offices around the country because they don’t need Social Security. They’re billionaires–they’re never going to need a Social Security check – like millions of American seniors do – in order to put food on the table. So the billionaire mindset is just different than ordinary, average Americans. And that’s why, to them, public education doesn’t matter.
    “But to Senator Schumer’s point, here’s the other reason why: all that matters right now is the billionaire and corporate tax cut. All that matters is hoarding as much money – stealing as much money – from middle class and poor families in this country, so that they can pass that money along to the billionaires, the millionaires, and the corporations. Everything that they are doing is about making sure that they shrink the parts of government that help regular people, so that they can pass along more benefits and more help to their billionaire friends.
    “But then here’s the last piece of the story of why. The billionaire class, the corporate class, the private equity class– they are sick to death that they don’t have their hands inside the Department of Education treasury; that they can’t get their hands on our schools like they’ve gotten their hands into our healthcare system and every other aspect of our economy. 
    “What they want to do is to sell off our public schools to the highest bidder. The voucher program that they are talking about, that they will be more easily able to implement if the Department of Education is gone, is really about just making it easier for the billionaire and corporate class to be able to buy up our schools, so that they can make money off of it like they make money off of the Medicare program, like they make money off of so many other aspects of our government. 
    “So if the Department of Education closes, it’s going to hurt millions of families in this country– it is just going to enable the theft of resources from regular families to pad the pockets of the billionaires – but is also likely to result in you waking up one day and finding out that your local elementary school that your kids go to is owned by a private equity firm on the other side of the country and is being run for profit instead of being run for the education of your kids.
    “So this is deeply unpopular, nobody wants the Department of Education eliminated, and it’s really important for us to explain to the American people why it’s happening.”

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI New Zealand: Release: Labour outlines priorities of next Govt

    Source: New Zealand Labour Party

    The next Labour Government will prioritise jobs, health and homes so Kiwis and Kiwi businesses have the opportunity to thrive.

    • Jobs – a fair economy with secure jobs that pay a decent wage
    • Health – a quality public health system supporting healthy communities.
    • Homes – a place to live and a great start for our kids

    “The cost-of-living crunch is still hitting New Zealanders hard. Prices are going up, wage growth is stagnant and more people are unemployed or about to lose their jobs,” Labour leader Chris Hipkins said.

    “The Luxon Government does not have a vision or a plan for New Zealand. Buzz words and corporate waffle will not lift incomes, fix our health system or build more homes.

    “Labour will not sell our pristine landscapes for a quick buck. We won’t lay off thousands of people, and cripple sectors for the sake of politics. We won’t sit idly by watching unemployment grow and families to suffer as a result.

    “We have listened, and we know what New Zealanders want. Clear on our objectives, Labour will be ready to govern in 2026, with policy development well underway to ensure jobs, health and homes are attainable for all New Zealanders.

    “New Zealand can have a strong economy that also supports people in work and pays them well. We can invest in the long-term infrastructure our country needs, while ensuring our health and education systems don’t keel over. We can ensure people have access to quality homes and Kiwi kids get a great start to life.

    “Labour’s new economic team, led by Barbara Edmonds is a signal to New Zealanders that we are serious about tackling the big issues and making change for the better. The team will get cracking immediately on new policy.

    “A Labour Government I lead will get the balance right to ensure New Zealand businesses can thrive and our economy can do well, while growing wages and jobs for everyone,” Chris Hipkins said. 


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    MIL OSI New Zealand News –

    March 7, 2025
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