Category: Economy

  • MIL-OSI Economics: Trump presidency quickly impacting several areas of healthcare, says GlobalData

    Source: GlobalData

    Trump presidency quickly impacting several areas of healthcare, says GlobalData

    Posted in Medical Devices

    US President Donald Trump has recently enacted several significant changes to the country’s healthcare policy, focusing on withdrawing from the World Health Organization (WHO), implementing anti-abortion measures, and initiating a freeze on federal grant funding. These actions have far-reaching implications for various aspects of the healthcare system, including Medicaid, according to GlobalData, a leading data and analytics company.

    On January 20, 2025, Trump signed an executive order, directing the US to withdraw from the WHO. This decision marks the second attempt by the US to exit the WHO, following a similar move in 2020 that was later reversed by the subsequent administration.

    The executive order criticizes the WHO’s handling of the COVID-19 pandemic and alleges political interference by member states. It mandates the cessation of US funding and support to the WHO, the recall of US government personnel working with the organization, and a review of alternative partners for global health initiatives. The withdrawal has prompted concerns from global health experts about potential disruptions in international health collaboration and the management of global health crises.

    Alexandra Murdoch, Senior Medical Analyst at GlobalData, comments: “The US exit from the WHO is perplexing, and will not only leave a gap in WHO funding and health leadership, but will impact Americans health and safety too. The WHO funds a number of programs to treat and prevent many diseases in many countries, including the US.”

    Exiting the WHO is not the only change to healthcare President Trump has made since his inauguration. On January 24, he issued an executive order titled “Enforcing the Hyde Amendment,” which reinforces the prohibition of federal funding for elective abortions. This order revokes previous directives from the Biden administration that had expanded access to reproductive healthcare services, including abortion.

    By reinstating the Hyde Amendment’s restrictions, the order directs federal agencies to ensure compliance, effectively reducing federal support for abortion services. This move has significant implications for Medicaid, as it limits the use of federal funds for abortion services, potentially affecting low-income individuals who rely on Medicaid for healthcare coverage.

    As a result of policies like this, many states could see an increased demand for contraceptive devices to reduce the likelihood of unwanted pregnancies. According to GlobalData, the volume of reversible contraceptive devices is expected to increase at a 2.53% CAGR in the US from 2023-33. Reversible contraceptive devices in this case refer to diaphragms, hormonal implants, and intrauterine devices (IUDs).

    Murdoch continues: “Similarly, the Office of Management and Budget (OMB) issued a memorandum ordering a freeze on federal grants and financial assistance programs. This freeze has created uncertainty among organizations that depend on federal funding, including those providing healthcare services through Medicaid.”

    A federal judge in the District of Columbia has temporarily blocked the order to freeze funding, but the order had already disrupted Medicaid for many. Medicaid reimbursement portals were down across the country, and if the freeze is reinstated, it could lead to reduced resources for programs that support low-income populations, potentially compromising the quality and availability of care provided through Medicaid.

    Murdoch concludes: “President Trump’s recent actions represent a significant shift in US healthcare policy, emphasizing a departure from international health collaboration, reinforcing anti-abortion measures, and reevaluating funding priorities. These changes are likely to have substantial effects on healthcare in the US.”

    MIL OSI Economics

  • MIL-OSI Economics: NBA teams to generate $285.8 million from jersey patch deals for 2024-25 season, reveals GlobalData

    Source: GlobalData

    NBA teams to generate $285.8 million from jersey patch deals for 2024-25 season, reveals GlobalData

    Posted in Sport

    At the start of the 2024-25 National Basketball Association (NBA) season, all but three of the 30 competing teams boast an official patch partner. The league has permitted patch partners on jerseys since the start of the 2017-18 season, and the teams are financially benefitting from the additional sales opportunity. Overall, patch partnership deals are estimated to generate $285.8 million across the league, with teams averaging $10.6 million a season from these rights, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “The Business of the NBA 2024-25,” reveals that, based on the biggest individual market in the US, the New York Knicks are linked to the largest valued patch deal this season. Its partnership with ‘Experience Abu Dhabi’ is new for the 2024-25 season and valued at $30 million a season. For the brand, it is a deal based around tourism, as it looks to boost the global visibility of Abu Dhabi as a popular destination and comes off the back of several sports sponsorship rights claimed by Emirati brands in recent years.

    Jake Kemp, Sport Analyst at GlobalData, comments: “The arrival of ‘Experience Abu Dhabi’ in the league highlights a global push of the Middle Eastern brands in global sports markets. The size of its deal with the Knicks holds a higher value too because of its extended branding on the team warm-up shirts and the ability to use trademarks against the Knicks and its home venue – Madison Square Garden.

    “Brands from the region have been signing big deals in European sport for a number of years now, and North America could be a major target for Middle Eastern brands in the coming years. It highlights the popularity of the NBA, as a global product, with brand sponsorship interest moving away from the standard home-based brand deals.”

    The Charlotte Hornets, Los Angeles Clippers, and San Antonio Spurs are the only NBA teams this season without a patch partner. It marks a second straight season for the Clippers, which represents significant missed financial revenue, particularly given its strong city (LA) marketplace value.

    The Clippers most recently ended its patch partnership with ‘Honey’ at the end of the 2022-23 season, which was worth $8 million. Its lack of replacement since, however, suggests that they are overvaluing their patch rights. The Hornets and the Spurs have yet to replace their expired patch partnership from the 2023-24 season, with ‘Feastables’ and ‘Self’ respectively, worth $5 million and $10 million a season.

    Kemp continues: “Patch partnerships offer great exposure for brands, with prime branding on popular sports jerseys. With NBA teams playing 82 games a season, these brands are receiving strong exposure regularly and for a long period of time each season. NBA athletes are also seen as some of the biggest names in world sport and most followed on social media. Brands are able to build an association with these sports superstars through team jersey branding.”

    Patch partnerships were only introduced in the NBA in 2017, and every team has in this time signed a patch partner. Their popularity continues, as teams remain committed to not missing out on the multi-millions on offer. Across the league, there were 11 new patch partnerships signed ahead of the 2024-25 season.

    Kemp concludes: “The new patch deals in the league hold a combined estimated $122 million annual value. This is significantly boosted by the deals from the two New York based teams, as the New York Knicks and Brooklyn Nets deals stand at $30 million and $20 million, respectively.  Patch partnerships are highly sought after because of the in-game visibility if offers. Besides the Nike swoosh on all kits, there are no other brand logos as visible in the NBA.”

    MIL OSI Economics

  • MIL-OSI Economics: progcm.io: BaFin warns against website

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The website operator claims to be based in London, United Kingdom, and only goes by the name GCMpro. According to BaFin’s findings, the operator was also responsible in the past for the now inactive website progcm.com.

    BaFin issued a warning about the completely identical website gcmpro.org as early as 12 November 2020. In addition, BaFin has recently become aware of other websites with almost identical content, which it has also issued warnings about. In all cases, the presentation on the websites begins with the following sentence: ‘Step Up Your Trading with [name of operator]’.

    Anyone offering financial or investment services or crypto-asset services in Germany requires a licence from BaFin. However, some companies offer such services without the required licence. You can find information on whether a particular company is authorised by BaFin in the company database.

    The information provided by BaFin is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics

  • MIL-OSI Economics: finance-ig.com: BaFin investigates website operator

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) is warning against the website finance-ig.com. According to the supervisory authority, financial and investment services as well as crypto-asset services are offered there without authorisation.

    The website operator provides alleged business addresses in Rotherham, United Kingdom, and Toronto, Canada. He claims to be registered in Canada. The identical website financeig.proxy56.com can also be found on the internet. The content, structure and wording of both websites largely correspond to the website fintechmarket-consulting.com, which BaFin warned against as early as 6 November 2023.

    Anyone offering banking transactions or financial and investment services or crypto-value services in Germany requires the permission of BaFin. However, some companies offer such services without having the necessary permission. Information on whether a particular company is authorised by BaFin can be found in the company database.

    The information provided by BaFin is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KWAG).’

    Please be aware:

    BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics

  • MIL-OSI Russia: Polytechnic University’s AI Seminars Are Trending on the Information Agenda

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Another seminar on artificial intelligence was held at the Saint Petersburg Polytechnic University.

    Opening the meeting, SPbPU Vice-Rector for Research Yuri Fomin reminded the participants of the resonance in the global community caused by the neural network of the Chinese company DeepSeek.

    This reaction to artificial intelligence technologies once again confirms that they are trending today. And this adds new colors to our seminars, which we organized to talk about the research that is being conducted in our laboratories as popularly as possible. Because we, of course, will be active participants and authors of new technological solutions, – noted Yuri Vladimirovich.

    The fourth Polytechnic University seminar on AI attracted the attention of not only the university audience, but also external participants — representatives of the university’s industrial partners. The report of the Vice-Rector for Digital Transformation, Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov and Senior Researcher of the Engineering Center “Computer Engineering Center” of the SPbPU PISh Alexey Novokshenov on the topic “Artificial Intelligence in Industry on the CML-Bench® Digital Platform. Experience of Applying AI/ML in High-Tech Industry Tasks” was listened to with great interest. The scientists spoke about the digital platform for the development and application of CML-Bench® digital twins and the successful implementation of projects in the interests of the high-tech industry.

    According to Alexey Borovkov, the digital twin market is one of the fastest growing, and today it is being integrated by the largest market for artificial intelligence technologies. In addition, he noted that the CML-Bench® digital platform received a certificate of compliance with the software security requirements of the Federal Service for Technical and Export Control (FSTEC of Russia) at the sixth level of trust at the end of 2024.

    Today, our country faces an important task – achieving technological leadership, and domestic technologies, especially advanced digital and production technologies, play an important role here. Also, we should not forget about digital standardization. In 2022, the National Standard “Computer Models and Simulation. DIGITAL DOUBLES OF PRODUCTS. General Provisions” came into effect, which was developed by specialists of the NTI Center “New Production Technologies” of SPbPU together with specialists of the Federal State Unitary Enterprise “RFNC-VNIIEF” and with the participation of 25 more high-tech organizations and industry institutes. And whoever creates the standards dictates the rules, – Alexey Ivanovich emphasized and then spoke in detail about some developments using digital engineering for the fuel and energy complex and the aviation industry.

    During the discussion of the report, the seminar participants also identified a number of problems: lack of funds for testing; difficulties in introducing new developments into production; insufficient preparation of applicants entering engineering specialties.

    Alexey Gintsyak, head of the Digital Modeling of Industrial Systems laboratory of the Advanced Engineering School Digital Engineering, spoke about the study of approaches to creating intelligent multi-agent systems for predictive and prescriptive analytics in industry. The laboratory is part of the Scientific and Educational Center and the Association Artificial Intelligence in Industry and conducts a range of studies on forecasting and optimizing the activities of industrial enterprises. The report presented the results of fundamental projects carried out within the framework of a state assignment and with the support of the Russian Science Foundation, as well as the results of applied projects in various industries and economics: mechanical engineering, metallurgy, transport, and the oil and gas industry. In conclusion, the head of the laboratory shared plans for the further development of current research areas.

    Summing up the results of the seminar, Vice-Rector for Research Yuri Fomin suggested inviting speakers from other scientific organizations and universities to the seminars, and also announced the next meeting, which will be held on February 12 in the Kapitsa Hall of the Technopolis Polytech Research Building at 2 p.m.

    Photo archive

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI: Akuma Inu AI Announces Strategic Expansion on Base Chain to Revolutionize Meme Coins with ‘Memetility’

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) — Akuma Inu AI, the pioneering force behind “memetility”—the fusion of meme culture with real-world utility—has announced its strategic expansion onto the Base Chain, marking a significant milestone in the evolution of meme coins. This move is designed to enhance scalability, security, and accessibility, solidifying Akuma Inu AI’s role in reshaping the cryptocurrency landscape.

    A Timely Shift Amidst Market Volatility

    The recent launch of the $TRUMP meme coin has reignited discussions about the sustainability of meme-based cryptocurrencies. While many meme coins experience extreme volatility with little to no utility, Akuma Inu AI sets itself apart by integrating AI-powered security measures to combat rug pulls and ensure investor confidence. By launching on Base Chain, the project gains access to lower fees, faster transactions, and a robust infrastructure tailored for mass adoption.

    Why Base Chain?

    Base Chain, a Layer 2 solution backed by Coinbase, provides the ideal foundation for Akuma Inu AI’s expansion, offering enhanced transaction efficiency and security. This integration positions Akuma Inu AI as a leader in the next wave of meme coin innovation, ensuring that its community benefits from a more stable and scalable ecosystem.

    Tackling Rug Pulls with AI-Powered Protection

    Rug pulls remain one of the biggest threats in the crypto space, eroding investor trust and causing massive financial losses. Akuma Inu AI is tackling this issue head-on with advanced AI-driven vaulting systems and controlled emissions and sells . On top

    Of this it uses ai that assess project action , monitor users behavior and interactions , and provide real-time alerts, resulting in the foundation for action based income . The move to Base Chain strengthens these security features, offering a safer investment environment for users and generates revenue and reward for action .

    A Paradigm Shift in Meme Coin Evolution

    With its expansion onto Base Chain, Akuma Inu AI is not just embracing the future—it’s shaping it. This milestone underscores the project’s commitment to bridging cultural relevance with tangible benefits, setting a new precedent for the broader crypto ecosystem. As the industry braces for the next bull run, Akuma Inu AI’s innovative approach to “memetility” is expected to drive mass adoption and investor confidence.

    For the latest updates, visit akumainu.io or follow Akuma Inu AI on X (Twitter).

    CMC Listing:

    Check out Akuma Inu AI’s listing on CoinMarketCap: CMC Link

    Contact:
    Akuma godbreaker
    Akuma@akumainu.io

    Disclaimer: This content is provided by Akuma. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/9fd5ded9-f929-4db1-9b63-c18d61788ede

    The MIL Network

  • MIL-Evening Report: Labor’s dumping of Australia’s new nature laws means the environment is shaping as a key 2025 election issue

    Source: The Conversation (Au and NZ) – By Peter Burnett, Honorary Associate Professor, ANU College of Law, Australian National University

    Controversy over land clearing at the Lee Point (Binybara) housing development site, near Darwin, highlights the urgent need for environmental law reform. Euan Ritchie

    Prime Minister Anthony Albanese has shelved the proposed reforms to Australia’s 25-year-old environment laws, citing a lack of parliamentary support for the changes.

    The decision breaks Labor’s 2022 election commitment to overhaul the protections. The Albanese government is now the latest in a string of governments that have tried and failed to reform the law known formally as the Environmental Protection and Biodiversity Conservation (EPBC) Act.

    This is despite two major independent reviews calling for wholesale change.

    Labor’s capitulation does not, however, change the facts. Australia’s natural environment is deteriorating rapidly. Laws are urgently needed to protect our nation’s valuable natural assets.

    Establishing effective laws is an investment that will benefit Australia’s biodiversity, economy, cultural values, health and wellbeing. Nature is now a key 2025 election issue.

    How did we get here?

    An independent review of the EPBC Act, known as the Samuel Review, was completed in 2020 under the former Coalition government. It found that without urgent changes, most of Australia’s threatened plants, animals and ecosystems will become extinct.

    Federal Environment Minister Tanya Plibersek promised to act on the review’s recommendations, via a plan Labor badged as “Nature Positive”.

    The centrepiece of reform is to set national environmental standards that would be overseen by an independent regulator and watchdog called Environmental Protection Australia (EPA). But reform was split into three stages.

    Stage one legislated for national markets in nature repair and expanded the requirement to assess potential impacts on water resources under the EPBC Act. The so-called “water trigger” now captures “unconventional gas” projects such as shale gas recovery in the Northern Territory’s Beetaloo Basin. The law passed in December 2023, but the markets are not yet functioning.

    Stage two of the reforms, including establishing a federal EPA, came before the Senate in late 2024. Plibersek had reportedly made a deal with the crossbench to secure passage. But this deal was scuttled by Albanese at the eleventh hour.

    Stage two was relisted for discussion in the upcoming first parliamentary sitting week of 2025, this week. But on Saturday, Albanese told The Conversation the government would, again, not be proceeding with the reform this term.

    The reforms have been delayed for so long that we are now closer to the next statutory review of the laws, due in 2029, than to the last one.

    Stage three, which covers the bulk of substantive reform recommended in the Samuel Review, is yet to be seen publicly.

    What will happen after the next election?

    Albanese must go to the polls by May 17, but there is speculation the election may be as early as March. So what is the likely fate of these environmental reforms in the next term?

    A Roy Morgan poll on Monday found if a federal election were held now, the result would be a hung parliament. So the result is looking tight.

    Government control of the Senate is rare. So whoever is in power after the election is very likely to rely on crossbench support for any reforms.

    Albanese has ruled out forming a coalition with the Greens or crossbenchers in the event of a hung parliament. However, Opposition Leader Peter Dutton says he would negotiate with independents to form government.

    A returned Albanese majority government would probably revisit the scuttled deal on stage two. With elections in the rear-view mirror, Albanese may be prepared to wear some political pain early in the next term to secure a deal. He would also still need to roll out the bulk of the Nature Positive reforms, the detail of which remains hidden behind a vague “stage three” banner.

    A minority Albanese government may face a tougher ask: demands from an environmentally progressive crossbench for major commitments to environmental reform in return for promises of support on budget and confidence.

    A Coalition government would be coming from a very different angle. Dutton has painted Nature Positive as a
    disaster” for the economy, expressing particular concern about impacts on the mining sector.

    The Coalition’s environmental agenda is increasingly focused on “cutting green tape” – in other words, reducing bureaucratic hurdles for developers – and repealing bans on nuclear power stations. Finding crossbench support in the Senate for this agenda could be challenging.

    The Greens have vowed to make environmental protection a key election issue, urging voters to cast their ballot for nature this election.

    A recent poll published by the Biodiversity Council shows 75% of Australians support strengthening national environmental law to protect nature. Only 4% are opposed and the rest are undecided.

    But converting a high level of broad support into votes is another thing altogether – especially during a cost-of-living crisis.

    Crystal clear consequences

    The political crystal ball remains cloudy. But when it comes to the state of Australia’s environment, the picture is clear.

    The environment continues to decline and the consequences are increasingly serious. These consequences extend beyond further irreversible loss and the increasing cost of environmental repair, to include the economic and social consequences of losing more of the natural assets on which our quality of life depends.

    The building blocks of successful reform are all on the table, where the Samuel Review put them in 2020.

    When will governments accept that kicking the can down the road is selling us all down the drain?

    Peter Burnett is affiliated with the Biodiversity Council, an independent expert group founded by 11 Australian universities to promote evidence-based solutions to Australia’s biodiversity crisis.

    Euan Ritchie receives funding from the Australian Research Council and the Department of Energy, Environment, and Climate Action. Euan is a Councillor within the Biodiversity Council, a member of the Ecological Society of Australia and the Australian Mammal Society, and President of the Australian Mammal Society.

    Jaana Dielenberg was employed by the now-ended Threatened Species Recovery Hub of the Australian Government’s National Environmental Science Program, which led an earlier stage of this research. She is a Charles Darwin University Fellow and is employed by the University of Melbourne and the Biodiversity Council.

    ref. Labor’s dumping of Australia’s new nature laws means the environment is shaping as a key 2025 election issue – https://theconversation.com/labors-dumping-of-australias-new-nature-laws-means-the-environment-is-shaping-as-a-key-2025-election-issue-248872

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: BAWAG Group: Acquisition of Barclays Consumer Bank Europe successfully completed

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Austria – February 3, 2025 – Following the receipt of regulatory approvals as announced on 9th of January, BAWAG Group today announces the successful acquisition of the Hamburg-based Barclays Consumer Bank Europe from Barclays Bank Ireland PLC. BAWAG Group will work with the current leadership team to continue growing its Retail business in Germany and the broader DACH/NL region.

    During a transitional period, the business will continue to operate under the Barclays brand, with rebranding expected to be unveiled in 2026. At present, there are no changes for customers: both the products and their associated terms and conditions remain unaffected following the completion of the transaction.

    BAWAG Group will report FY 2024 results on March 4, 2025 and will host an Investor Day on the same day.

    About Barclays Consumer Bank Europe

    Barclays Consumer Bank Europe has been operating successfully in Germany for more than 30 years and is one of the leading providers of credit cards with a genuine credit function. The company’s other business areas include consumer loans, installment purchase financing via the online retailer Amazon and overnight money accounts. Further information can be found at www.barclays.de.

    About BAWAG Group

    BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.5 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe, and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need. BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

    Forward looking statement

    This release contains “forward-looking statements” regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management’s expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking “safe harbor provisions”.

    Contact:

    Financial Community:
    Jutta Wimmer (Head of Investor Relations)
    Tel: +43 (0) 5 99 05-22474

    IR Hotline: +43 (0) 5 99 05-34444
    E-mail: investor.relations@bawaggroup.com

    Media:
    Manfred Rapolter (Head of Corporate Communications and Social Engagement)
    Tel: +43 (0) 5 99 05-31210
    E-mail: communications@bawaggroup.com

    This text can also be downloaded from our website: https://www.bawaggroup.com

    The MIL Network

  • MIL-OSI: Argent LNG Selects Baker Hughes as Technology Provider, Strengthening Project

    Source: GlobeNewswire (MIL-OSI)

    • Baker Hughes to supply liquefaction solutions utilizing NMBL™ module and LM9000 gas turbine
    • Agreement also comprises a multi-year services plan, including iCenter™ digital solutions powered by Cordant™, to support Argent LNG terminal operations
    • Proposed project targets approximately 24 million tonnes per annum (MTPA) of production capacity

    FLORENCE, Italy, Feb. 03, 2025 (GLOBE NEWSWIRE) — Argent LNG LCC (Argent LNG) has selected Baker Hughes (NASDAQ: BKR), an energy technology company, as the liquefaction solution and related services provider for its proposed liquified natural gas (LNG) export facility in Port Fourchon, Louisiana. Baker Hughes will supply cutting-edge liquefaction solutions, power generation equipment, and gas compression systems for the facility, which is set to deliver approximately 24 million tonnes per annum (MTPA) of LNG. The announcement was made during Baker Hughes’ Annual Meeting in Florence.

    The project will incorporate Baker Hughes’ advanced technologies, including its NMBL™ modularized LNG solution powered by the highly efficient LM9000 gas turbine. These modules, pre-fabricated and tested at Baker Hughes’ facilities, will ensure scalable and reliable LNG production to the project and integrate iCenter™ digital solutions powered by Cordant™ to maximize availability, reliability, and operational efficiency. Baker Hughes will also provide power generation units driven by LM9000 gas turbines and provide multi-year services to support Argent LNG terminal operations.

    By leveraging its extensive knowledge and experience in LNG development, Baker Hughes will help optimize project execution, and ensure a streamlined, cost-effective design, allowing Argent LNG to move forward with greater efficiency and financial certainty.

    “Today’s announcement is a further testament to the technology capabilities that we have built over the past 30-plus years in LNG. This collaboration with Argent LNG underscores our commitment to delivering advanced, best-in-class LNG solutions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “As global energy demand continues to grow, we are committed to providing innovative technology solutions to the LNG industry, a key supplier of reliable and affordable energy to many countries around the world.”

    “We chose Baker Hughes because of their proven cutting-edge technology, established LNG market presence, and commitment to innovation — all of which align perfectly with Argent LNG’s vision to provide transformative energy solutions,” said Jonathan Bass, chairman and CEO of Argent LNG. “This collaboration underscores Argent LNG’s commitment to technical excellence, cost-effective execution, and energy security, while also strengthening the project’s bankability by leveraging Baker Hughes’ proven expertise and industry leadership. Today’s announcement demonstrates how innovation and collaboration can drive progress in the LNG industry, helping to secure affordable, sustainable energy for global markets.”

    Phase 1 construction is targeted to begin in 2026, with commercial operations expected by 2030. Phase 2, which aims to expand capacity, is advancing through critical milestones, including resource reporting, securing FERC approvals, formalizing gas supply agreements, and achieving financial close.

    Baker Hughes expects orders in relation to this agreement, as the Argent LNG project progresses and reaches Final Investment Decision, further solidifying its key role in Argent LNG’s long-term success.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    About Argent LNG
    Argent LNG LLC is a privately held energy company dedicated to developing world-class LNG export solutions to meet the rising global demand for clean, reliable energy. Based in Louisiana, Argent LNG is focused on leveraging cutting-edge technologies and strategic partnerships to deliver cost-effective, sustainable, and efficient energy solutions. The company’s proposed export facility at Port Fourchon is designed to strengthen energy security and economic growth while reinforcing the United States’ leadership in the global LNG market.

    For more information, please contact:

    Media Relations

    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com

    Investor Relations

    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network

  • MIL-OSI: BexBack Launches Double Deposit Bonus, $50 Welcome Bonus and 100x Leverage Crypto Trading No KYC

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 01, 2025 (GLOBE NEWSWIRE) — As the price of Bitcoin surpassed the $100,000 mark and many analysts believe that it will enter a long-term high-volatility market. Holding spot positions may not continue to generate profits in the short term. BexBack Exchange is stepping up its efforts to provide traders with irresistible preferential packages. The platform now offers a 100% deposit bonus, a $50 welcome bonus for new users, and a 100x leverage on cryptocurrency trading, creating unparalleled opportunities for investors.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

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    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/ba4465dd-d4e3-4374-8385-806fd259e6e3
    https://www.globenewswire.com/NewsRoom/AttachmentNg/82e163a9-5f5b-4738-9c9e-8085324358fb
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e3872672-3b1c-489b-8492-34196f339656
    https://www.globenewswire.com/NewsRoom/AttachmentNg/941d5ac9-9048-4b49-b919-4b4f5922bbf8

    The MIL Network

  • MIL-OSI: NB Private Equity Partners Limited Total Voting Rights

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey 3 February 2025

    NB Private Equity Partners Limited (“NBPE” or the “Company”) Total Voting Rights

    Total Voting Rights

    In accordance with DTR 5.6.1R, NB Private Equity Partners Limited (“NBPE” or the “Company”) notifies the market of the following:

    Class of Share Number in issue as at 31 January 2025 Voting Entitlement pursuant to the Articles of Incorporation Number held in Treasury as at 31 January 2025 Voting Rights as at 31 January 2025
    Class A Ordinary 49,367,173 May attend and vote at general meetings 3,150,408 46,216,765
    Class A Shareholders have the right to receive notice of general meetings of the Company and shall have the right to attend and vote at all general meetings.
    B Shares 10,000 Except in certain circumstances, do not carry voting rights 0 0
    Class B Shareholders do not have the right to receive notice of or have the right to attend and vote at any general meetings. However, there are limited circumstances where the Company shall not act, without the prior approval of the Class B Shareholders by ordinary resolution passed at a separate general meeting of the Class B Shareholders. Separately, the Directors shall, at appropriate times carry out the FPI Test and, if they determine that the US Shareholding Percentage had exceeded the FPI Specified Percentage as at such FPI Calculation Date, with effect from the date on which the Directors make such determination, the Class B Shares in issue shall, with respect to any Director Resolution, carry a positive number of voting rights as per the calculation referenced in the Articles.
    Total Voting Rights       46,216,765

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman

    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with 2,800+ employees in 26 countries. The firm manages $500+ billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of December 31, 2024, unless noted otherwise.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    The MIL Network

  • MIL-OSI: Baker Hughes and Hanwha Announce Partnership to Develop Small-Size Ammonia Turbines

    Source: GlobeNewswire (MIL-OSI)

    • Agreement to focus on creation of 100% ammonia combustion dual fuel with natural gas small-size turbines
    • Ammonia is a low-carbon fuel that can play a critical role in decarbonizing hard-to-abate sector, including marine transportation
    • Collaboration to deliver efficiency comparable to reciprocating engines while minimizing carbon emissions

    FLORENCE, Italy, Feb. 03, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, Hanwha Power Systems and Hanwha Ocean announced Monday a Joint Development and Collaboration Agreement (JDCA) for a new small-size turbine for ammonia applications that will leverage Baker Hughes’ small-size gas turbine technology and Hanwha’s ammonia combustion system. The agreement was signed during the Baker Hughes 2025 Annual Meeting in Florence. The new ammonia turbine will be suitable for marine applications but also for onshore and offshore applications, and for electric generation and mechanical drive.

    Ammonia is a critical fuel in enabling the decarbonization of hard-to-abate sectors, including marine, oil and gas, and power. Hanwha Ocean, one of South Korea’s leading shipbuilders, will be the main beneficiary of the JDCA and will adopt the new solution as a propulsion system for their future vessels, thus enabling maritime decarbonization.

    Hanwha already tested successfully a proof-of-concept of the combustor, with 100% ammonia as the fuel gas, and Baker Hughes completed its initial turbine feasibility studies in 2024. The two companies target to complete the full engine test with ammonia by the end of 2027, after which the turbine (~16MW power range) will be commercially available for orders.

    “Decarbonizing hard-to-abate industries and transportation is one of the most pressing but high-potential opportunities of our time,” said Alessandro Bresciani, senior vice president of Climate Technology Solutions at Baker Hughes. “We believe fuel switching to ammonia will play a key role in achieving significant emissions reductions across these sectors, and to realize this ambition, the industry needs more partnerships such as this. Together, we will continue to lead by example and take energy forward.”

    “We are very excited to be collaborating with Baker Hughes to deliver an innovative and efficient solution to enhance the adoption of ammonia as a fuel for the propulsion system for future vessels. This collaboration marks a significant turning point in accelerating the transition to low-carbon fuel propulsion in the global maritime industries,” said James Shon, senior executive vice president and head of Product Strategy and Technology at Hanwha Ocean.

    “The transition to low carbon fuels is a mission for everyone in the marine sector. We aim to play a key role in the decarbonization of the sector, together with Baker Hughes, by supporting ammonia combustion and packaging systems,” said Nuno Kim, executive vice president and head of Hanwha Power Systems Ship Solution Division.

    Baker Hughes is currently exploring how its small-size gas turbines can accelerate the transition from diesel motors to turbines powered by ammonia and hydrogen. In January 2024, the company announced the completion of the successful testing of the world’s first 100% hydrogen turbine, which is now commercially available and with orders under execution.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    About Hanwha
    Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone. For more information, visit: www.hanwha.com

    For more information, please contact:

    Baker Hughes Media Relations
    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com

    Hanwha Power Systems Media Relations 
    Sung Jae Park 
    +70 7147 4895 
    sungjae.park@hanwha.com 

    Baker Hughes Investor Relations
    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network

  • MIL-OSI Russia: The government has exempted butter and egg producers from additional payments to retailers

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Resolution of February 1, 2025 No. 76

    Document

    Resolution of February 1, 2025 No. 76

    The government has expanded the list of socially significant food products for which producers do not have to pay remuneration to retailers. Eggs and butter have been added to the list.

    According to the law on trade, suppliers pay bonuses to retailers for the fact that the chains buy a certain amount of goods from them. Including butter and eggs in the list of socially significant goods for which payment of remuneration is not allowed will eliminate such practices.

    The ban on charging remuneration will give producers the opportunity to reduce costs when delivering products to retail chains and to direct the released financial resources to modernization and expansion of production. Ultimately, the proposed measure may contribute to a reduction in wholesale prices of producers for consumers, including as a result of increased production.

    The signed document introduces changes toResolution of July 15, 2010 No. 530.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI: Bitget Wallet Unveils PayFi Vision: Bridging Real-World Payments and Onchain Finance

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 03, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has unveiled its 2025 strategy with PayFi being a key focus. With over 60 million users, Bitget Wallet is bringing PayFi to the forefront of personal finance, transforming crypto from a passive asset into a powerful financial tool for everyday use. By combining the efficiency of crypto payments and the ability to earn through decentralized finance (DeFi), PayFi integrates earning, sending, and spending into an ecosystem that maximizes the utility of every dollar, ensuring that every transaction contributes to financial growth. Bitget Wallet is positioning itself as a financial superapp, bridging blockchain innovation and real-world usability to revolutionize how individuals manage their money.

    Bitget Wallet’s PayFi Flywheel transforms crypto wallets from passive storage tools into engines of financial empowerment. With its earning, sending, and spending ecosystem, users can deposit crypto assets, such as stablecoins, into savings accounts offering flexible, real-time yields. These yields aren’t locked away but directly fuel daily expenditures, from shopping to subscriptions, supporting the “Buy Now, Pay Never” concept, where DeFi yields cover part of the expenses. By converging earning, sending, and spending, powered by blockchain’s efficiency, PayFi creates an interconnected ecosystem that keeps money productive and empowers users to grow their assets seamlessly.

    PayFi is not just a product; it’s a movement to make crypto a viable financial tool for billions globally,” said Alvin Kan, COO of Bitget Wallet. “By leveraging the PayFi Flywheel, we’re redefining personal finance, integrating blockchain-powered systems into everyday life. This marks a paradigm shift in how people manage money — empowering individuals with tools to maximize productivity and financial freedom while making crypto more practical and impactful worldwide.

    A cornerstone of Bitget Wallet’s PayFi initiative is the upcoming Bitget Wallet Card, a crypto card supported by Mastercard and linked to a crypto-friendly, multi-currency international bank account. The card will enable seamless global spending, offering competitive exchange rates. In addition to the card, Bitget Wallet is building an in-app shopping experience through partnerships with companies such as Triple A, Bitrefill, IvendPay, PundiX, and Coinpal. These partnerships enable users to spend crypto on everyday services, from purchasing gift cards for top brands like Amazon and Apple to topping up mobile credits and making in-store payments via QR codes or blockchain-powered POS systems. This interconnected ecosystem broadens crypto’s real-world application, ensuring that earning, sending, and spending reinforce one another in a cycle of value creation.

    Bitget Wallet also plans to introduce enhanced earning features, offering flexible yield options ranging from low-risk returns to higher-yield opportunities. Users can keep their funds productive even while using them for daily spending, ensuring money generates yield while remaining accessible. Peer-to-peer transfers will be streamlined, allowing faster, cheaper, and more accessible crypto transactions for daily use and remittances. “We’ve seen exceptional growth in some regions driven by high inflation and limited banking access,” said Alvin Kan, COO of Bitget Wallet. “In Africa alone, user numbers grew over 1000% last year, with similar trends in the Middle East and Latin America. These figures underscore the rising demand for decentralized solutions, and with PayFi, we aim to empower underserved regions with accessible financial tools.

    For further details, visit the Bitget Wallet blog.

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

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fa77ce39-76f9-4073-9c48-3c2f5453bfb5

    ttps://www.globenewswire.com/NewsRoom/AttachmentNg/c70d1483-2e18-4003-86e2-a4991cc794ff

    The MIL Network

  • MIL-OSI: EfTEN Real Estate Fund AS unaudited results for 4th quarter and 12 months 2024

    Source: GlobeNewswire (MIL-OSI)

    Fund manager’s comment

    Despite the challenging economic environment, EfTEN Real Estate Fund AS managed to increase both total rental income and portfolio EBITDA in 2024. The fund’s portfolio was expanded by two new logistics properties in the fourth quarter and we are also planning to expand in the nursing home segment. EfTEN Real Estate Fund AS is primarily a dividend share. The fund aims to distribute 1.1 euros of dividends per share for 2024. In the spring of 2025, the fund management plans to increase the financial leverage of investment properties that that are currently significantly below the financial leverage principles set out in the fund’s financing policy. While the usual leverage ratio of real estate funds in Europe is on average 50% of the market value of assets, EfTEN Real Estate Fund AS’s portfolio-wide LTV (Loan-to-value) was 40% at the end of 2024.

    For the first time since spring 2023, the weighted average interest rate on the fund’s bank loans has fallen below 5% by the end of the year. Due to the expected further decline in EURIBOR, the interest rate on the Fund’s loans will continue to decrease in 2025.

    The priority for 2025 is vacancy management. As of the end of the year, the portfolio’s total vacancy rate was 2.6%, with the office segment vacancy rate at 11.3%. This elevated vacancy in the office sector is primarily attributable to the ongoing renovation of the Menulio 11 office building in Vilnius, which alone accounts for 47% of the office segment’s total vacancy. In line with market expectations, the Menulio 11 office building fit-out will be changed to include smaller offices which are expected to be handed over to tenants in the first half of this year.

    After the balance sheet date, the tenant of the Laagri Hortes gardening center, which belongs to the fund’s subsidiary and was previously undergoing reorganization, filed for bankruptcy. Harju County Court accepted the tenant’s bankruptcy petition for processing, and the hearing is scheduled for March of this year. Given the strong market interest in the property, there are multiple alternatives for further action. The share of Laagri Hortes in the group’s consolidated real estate investments is less than 1%, and according to the group’s management, the tenant’s bankruptcy proceedings are not expected to cause a significant decrease in the fair value of the property. As of December 31, 2024, the free funds available in the subsidiary’s bank account cover the scheduled loan and interest payments for Laagri Hortes for the next 17 months.

    In November and December 2024, the fund carried out a secondary public offering of shares, raising a total of €11.8 million in capital at €19 per share.

    Financial overview

    EfTEN Real Estate Fund AS’ consolidated sales revenue for the fourth quarter of 2024 was 8.314 million euros, an increase of 211 thousand euros (2.6%) compared to the fourth quarter of 2023. EfTEN Real Estate Fund AS’ consolidated sales revenue for the first 12 months of 2024 was 32.238 million euros, an increase of 421 thousand euros (1%) compared to the previous year. The Group’s net rental income for the first 12 months of 2024 totalled 29.977 million euros, i.e. 369 thousand euros more than in 2023. The Group’s net profit for the same period was 13.564 million euros (2023: 1.0 million euros).

    The consolidated net rental income margin was 93% in 2024 (2023: same), thus costs directly related to property management (including land tax, insurance, maintenance and improvement costs) and marketing costs accounted for 7% (2023: same) of sales revenue.
    The Group’s assets as of 31.12.2024 were 398.763 million euros (31.12.2023: 380.944 million euros), including the fair value of investment properties accounting for 94% of the assets (31.12.2023: the same). 
    Investment portfolio

    As of the end of 2024, the Group has 36 (31.12.2023: 35) commercial real estate investments, the fair value of which at the balance sheet date is 373.815 million euros (31.12.2023: 357.916 million euros) and the acquisition cost is 370.561 million euros (31.12.2023: 354.408 million euros). In addition to the investment properties owned by the Fund’s subsidiaries, the Group’s 50% joint venture owns the Palace Hotel in Tallinn, the fair value of which as of 31.12.2024 was 8.630 million euros (31.12.2023: 9.0 million euros).

    Investments in 2024

     The Group made investments in both new properties and the existing portfolio in 2024 totaling 21.6 million euros, including the acquisition of a logistics center in Tallinn, Härgmäe 8, by the Group’s subsidiary EfTEN Härgmäe OÜ in the autumn of 2024, paying a total of 8.8 million euros for the property, and the acquisition of a logistics center under development in Tallinn, Paemurru tee 3, by the Group’s subsidiary EfTEN Paemurru OÜ in the autumn of 2024, paying a total of 1.2 million euros for the property. In addition, the Group paid a total of 2.76 million euros for the development of the Paemurru logistics center in 2024.

    In 2024, the group completed the first phase of development at the Ermi nursing home in Tartu, where a total of 3.19 million euros were invested in the reporting year. In addition, construction on the C-building of the Valkla nursing home began, with investments reaching 788 thousand euros in 2024.

    Major investments in existing buildings were made in 2024 in the Saules Miestas shopping center, where the public areas were renovated for 1.8 million euros, and in the AirBaltic office building in Riga, where 665 thousand euros were invested in the building’s insulation work. Of the remaining investments, 1.6 million euros was spent on the reconstruction and modernization of rental spaces in various office buildings.

    Sales in 2024

    In September 2024, the Group sold the Tähesaju Hortes property for 4.675 million euros. Despite the payment difficulties of the tenant of the Tähesaju property, the Group earned nearly 300 thousand euros in net cash flow from the investment since its completion in 2018. The Group invested the funds received from the sale of the Tähesaju property in the acquisition of the Härgmäe logistics center.

    Rental income

    In 2024, the group earned a total of 31.076 million euros in rental income, which is 2% more than in 2023. Rental income increased the most in shopping centers. Rental income in the office segment decreased mainly due to the expiration of the lease agreement with the anchor tenant of the Menulio 11 office building in Vilnius and the related vacancy. In 2024, renovation works of the vacant rental premises in the Menulio 11 office building began, which are planned to be completed during 2025.
    The Group’s investment property vacancy rate per portfolio was 2.6% as of 31 December 2024 (unchanged from 31 December 2023). The highest vacancy rate was in the office segment (11.3%), where filling vacant rental properties has taken longer than previously expected.      

    Financing

    In the fourth quarter of 2024, two new subsidiaries of the fund, EfTEN Härgmäe OÜ and EfTEN Paemurru OÜ, signed loan agreements for the acquisition and development of real estate. In 2024, the fund’s subsidiaries EfTEN Autokeskus OÜ and EfTEN Jurkalne SIA extended the loan agreements concluded with the bank. The loan agreements of six subsidiaries of the group will expire within the next 12 months, the balance of which as of 31.12.2024 was 20,380 thousand euros. The LTV of the expiring loan agreements ranges from 27% to 48%, and the real estate investments have a stable rental cash flow, therefore, according to the group’s management, there will be no obstacles to extending the loan agreements.

    The weighted average interest rate of the Group’s loan agreements as of 31.12.2024 was 4.89% (31.12.2023: 5.91%) and the LTV (Loan to Value) was 40% (31.12.2023: 42%). All loan agreements of the Fund’s subsidiaries were linked to a floating interest rate in 2024.

    The Fund’s interest coverage ratio (ICR) for loans was 3.0 in 2024. Due to the increase in EURIBOR in the first half of 2024 and the increase in liabilities, the interest coverage ratio was 10% lower than in 2023.

    Information on shares

    In the last quarter of 2024, the fund carried out a share issue, during which 620,544 new shares were subscribed for at a price of 19 euros, of which the nominal value was 10 euros and the share premium was 9 euros. A total of 11.79 million euros was raised during the issue, including an increase in the fund’s share capital by 6.205 million euros and a share premium of 5.585 million euros. There were 0.159 million euros in expenses directly related to the issue. As of 31.12.2024, the fund had 11,440,340 shares.

    The net asset value (NAV) of EfTEN Real Estate Fund AS shares as of 31.12.2024 was 20.37 euros (31.12.2023: 20.21 euros). EfTEN Real Estate Fund AS’s net asset value per share increased by 0.8% in 2024. The fund distributed dividends in the total amount of 10.82 million euros in April 2024. Without the distribution the net asset value of EfTEN Real Estate AS shares would have increased by 4.9% in 2024.

    During 2024, the group has earned free cash flow of 11.109 million euros (2023: 11.314 million euros), of which 8.887 million euros (77.68 eurocents per share) could be considered gross dividends according to the fund’s dividend policy The fund’s management plans to refinance bank loans in the spring of 2025, where the LTV (Loan-to-Value) has fallen significantly below the fund’s financing policy threshold, and the operating cash flow exceeds loan and interest payments by more than twice. According to the management’s estimate, the refinancing would allow to increase the distributed dividend up to 1.1 euros per share (net).

    CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 

      IV quarter 12 months
      2024 2023 2024 2023
    € thousands        
    Revenue 8,314 8,103 32,238 31,817
    Cost of services sold -337 -506 -1,569 -1,626
    Gross profit 7,977 7,597 30,669 30,191
             
    Marketing costs -203 -190 -692 -583
    General and administrative expenses -987 -978 -3,666 -3,546
    Profit / loss from valuation of investment properties 831 -7,759 -1,038 -13,941
    Other operating income and expense 1 -2 46 21
    Operating profit/loss 7,619 -1,332 25,319 12,142
             
    Profit / loss from joint ventures 53 -474 -118 -499
    Interest income 62 87 278 184
    Other finance income and expense -2,052 -2,277 -8,696 -7,970
    Profit before income tax 5,682 -3,996 16,783 3,857
             
    Income tax expense -2,222 -1,884 -3,219 -2,857
    Net profit for the reporting period 3,460 -5,880 13,564 1,000
    Net comprehensive profit for the reporting period 3,460 -5,880 13,564 1,000
    Earnings per share        
       – basic 0.32 -0.54 1.25 0.09
       – diluted 0.32 -0.54 1.25 0.09

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION

      31.12.2024 31.12.2023
    € thousands    
    ASSETS    
    Cash and cash equivalents 18,415 14,712
    Short-term deposits 2,092 3,400
    Receivables and accrued income 2,055 2,360
    Prepaid expenses 138 106
    Total current assets 22,700 20,578
         
    Long-term receivables 154 214
    Shares in joint ventures 1,960 2,078
    Investment property 373,815 357,916
    Property. plant and equipment 134 158
    Total non-current assets 376,063 360,366
    TOTAL ASSETS 398,763 380,944
         
    LIABILITIES AND EQUITY    
    Borrowings 25,625 16,907
    Liabilities and prepayments 3,245 3,417
    Total current liabilities 28,870 20,324
         
    Borrowings 123,795 130,849
    Other long-term liabilities 1,928 1,790
    Deferred income tax liability 11,097 9,283
    Total non-current liabilities 136,820 141,922
    Total liabilities 165,690 162,246
         
    Share capital 114,403 108,198
    Share premium 90,306 84,721
    Statutory reserve capital 2,799 2,749
    Retained earnings 25,565 23,030
    TOTAL EQUITY 233,073 218,698
    TOTAL LIABILITIES AND EQUITY 398,763 380,944

    Marilin Hein
    CFO
    Phone +372 6559 515
    E-mail: marilin.hein@eften.ee

    Attachment

    The MIL Network

  • MIL-OSI Economics: Money Market Operations as on February 01, 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) 31,331.38 6.04 3.50-6.65
         I. Call Money 1,388.90 6.24 5.50-6.65
         II. Triparty Repo 29,352.60 6.06 5.00-6.55
         III. Market Repo 589.88 4.60 3.50-6.00
         IV. Repo in Corporate Bond 0.00
    B. Term Segment      
         I. Notice Money** 25.00 6.10 6.10-6.10
         II. Term Money@@ 0.00
         III. Triparty Repo 0.00
         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          
         (b) Reverse Repo          
    3. MSF# Sat, 01/02/2025 1 Sun, 02/02/2025 167.00 6.75
      Sat, 01/02/2025 2 Mon, 03/02/2025 350.00 6.75
    4. SDFΔ# Sat, 01/02/2025 1 Sun, 02/02/2025 1,09,459.00 6.25
      Sat, 01/02/2025 2 Mon, 03/02/2025 10,052.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,18,994.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 24/01/2025 14 Fri, 07/02/2025 1,62,096.00 6.51
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 31/01/2025 3 Mon, 03/02/2025 1,00,013.00 6.51
         (b) Reverse Repo          
    3. MSF# Fri, 31/01/2025 2 Sun, 02/02/2025 0.00 6.75
      Fri, 31/01/2025 3 Mon, 03/02/2025 1,910.00 6.75
    4. SDFΔ# Fri, 31/01/2025 2 Sun, 02/02/2025 0.00 6.25
      Fri, 31/01/2025 3 Mon, 03/02/2025 5,176.00 6.25
    D. Standing Liquidity Facility (SLF) Availed from RBI$       9,556.71  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,68,399.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,49,405.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 01, 2025 9,49,696.17  
         (ii) Average daily cash reserve requirement for the fortnight ending February 07, 2025 9,12,544.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ January 31, 2025 1,00,013.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on January 10, 2025 -40,102.00  
    @ 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.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2066

    MIL OSI Economics

  • MIL-Evening Report: The AEC wants to stop AI and misinformation. But it’s up against a problem that is deep and dark

    Source: The Conversation (Au and NZ) – By Susan Grantham, Lecturer in Communication, Griffith University

    From the moment you open your social media feed, you’re stepping into a digital battleground where not all political messages are what they seem.

    The upcoming federal election will see an influx of deepfakes, doctored images, and tailored narratives that blur the line between fact and fiction.

    Last week, the Australian Electoral Commission (AEC) relaunched its Stop and Consider campaign. The campaign urges voters to pause and reflect, particularly regarding information about how to vote. But its message applies to all forms of misinformation.

    AEC Commissioner Jeff Pope warns:

    A federal election must be held in the next few months, so now is the perfect time to encourage all Australians to have a healthy degree of scepticism when it comes to what they see, hear or read.

    The simple directives outlined in this campaign are designed to slow the spread of misleading information in a digital age where algorithms boost engagement at speed.

    So how effective is it likely to be in helping voters sift the real from the fake? While the campaign benefits from the AEC’s credibility and its accessible message, it also faces significant hurdles.

    Digital deception in action

    In 2024, AI made a notable impact on international political campaigns.

    In the US, the Federal Communications Commission fined a political consultant $6 million for orchestrating fake robocalls that featured an AI-generated deepfake of President Joe Biden’s voice.

    During India’s 2024 election, Meta (which owns Facebook) approved AI-manipulated ads spreading disinformation and hate. This exacerbated divisive narratives and failing to regulate harmful content.

    Meanwhile, the Australian Labor Party deployed an AI-generated video of opposition leader Peter Dutton as part of its online efforts.

    Additionally, the Liberal Party has again engaged duo Topham Guerin, who are known for their use of AI and controversial political tactics.

    Political leaders are increasingly turning to platforms like TikTok to attract votes. But one of the problems with TikTok for users is that it encourages endless scrolling and can cause users to miss subtle inaccuracies.

    Adding to these concerns is a recent scam in which doctored images and fabricated celebrity headlines were circulated. It created the illusion of legitimacy and defrauded many Australians of their money.

    These incidents are a stark reminder of how quickly digital manipulation can mislead, whether in commercial scams or political messaging.

    But are we taking it seriously?

    South Korea has taken a decisive stance against AI-generated deepfakes in political campaigns by banning them outright. Penalties include up to seven years in prison or fines of 50 million won (A$55,400). This measure forms part of a broader legal framework designed to enforce transparency, accountability, and ethical AI use.

    In Australia, teal independents are calling for stricter truth in political advertising laws. The proposed laws aim to impose civil penalties for misleading political ads, including disinformation and hate speech.

    However, combating misinformation created by anonymous or unknown parties, such as AI-generated deepfakes, remains a challenge that may require further regulatory measures and technological solutions.

    All of this is unfolding at a time when the approach to fact-checking is itself in flux. In January, Meta made headlines by scrapping its third-party fact-checking program in the US. This was done in favour of a “community notes” system. The change was championed by CEO Mark Zuckerberg as a way to reduce censorship and protect free expression.

    However, critics warn that without independent oversight, misinformation could spread more easily, potentially leading to a surge in hate speech and harmful rhetoric. These shifts in digital policy only add to the challenge of ensuring that voters receive reliable information.

    So, will the AEC’s campaign have any effect?

    Amid these challenges, the “Stop and Consider” campaign arrives at a critical moment. Yet despite scholars’ repeated calls to embed digital literacy in school curriculums and community programs, these recommendations often go unheard.

    The campaign is a positive step, offering guidance in an era of rapid digital manipulation. The simple message – to pause and verify political content — can help foster a more discerning electorate.

    However, given the volume of misinformation and sophisticated targeting techniques, the campaign alone is unlikely to be a silver bullet. Political campaigns are growing ever more sophisticated. With the introduction of anonymous deepfakes, voters, educators, regulators, and platforms must work together to ensure the truth isn’t lost in digital noise.

    A robust foundation in digital literacy is vital. Not only for this campaign to work but to help society distinguish credible sources from deceptive content. We must empower future voters to navigate the complexities of our digital world and engage more fully in democracy.

    Globally, diverse strategies provide valuable insights.

    While Australia’s “Stop and Consider” campaign takes a reflective approach, Sweden’s “Bli inte lurad” initiative is refreshingly direct. It warns citizens: “Don’t be fooled.”

    By delivering clear, actionable tips to spot scams and misleading content, the Swedish model leverages its strong tradition of public education and consumer protection.

    This no-nonsense strategy reinforces digital literacy efforts. It also highlights that safeguarding the public from digital manipulation requires both proactive education and robust regulatory measures.

    It may be time for Australian regulators to act decisively to protect the integrity of democracy.

    Susan Grantham 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. The AEC wants to stop AI and misinformation. But it’s up against a problem that is deep and dark – https://theconversation.com/the-aec-wants-to-stop-ai-and-misinformation-but-its-up-against-a-problem-that-is-deep-and-dark-248773

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Supersonic jets are making a comeback – but despite the hype, don’t expect to book yet

    Source: The Conversation (Au and NZ) – By Chris James, UQ Amplify Senior Lecturer, Centre for Hypersonics, School of Mechanical and Mining Engineering, The University of Queensland

    Rendering of Boom Supersonic’s proposed Overture supersonic airliner. Boom Supersonic

    Late last week, American company Boom Supersonic flew faster than the speed of sound with its XB-1 supersonic demonstrator aircraft. It’s now the first piloted non-military aircraft to break the sound barrier since the Concorde was retired from service in 2003.

    It’s the first step in Boom’s ambitious goal to have supersonic airliners carry passengers by 2029.

    But what exactly is supersonic travel? There are good reasons why it’s not more common, despite the hype.

    Boom Supersonic’s XB-1 supersonic demonstrator aircraft during its 11th test flight where it became the first civilian aircraft to fly supersonically since the Concorde.
    Boom Supersonic

    What is supersonic flight?

    The Mach number is defined as a plane’s speed divided by the speed that sound waves move through the air. To “break the sound barrier” means to fly faster than the speed of sound, with Mach numbers greater than 1.

    The Mach number is an important ratio: as a plane flies, it disturbs the air in front of it. These disturbances move at the speed of sound. In supersonic flight these disturbances combine to form shock waves around the vehicle.

    When people say you can see a fighter jet before you hear it, they’re referring to supersonic flight: fighter jets can travel at around Mach 2.

    The sound from the fighter jet is trapped inside its shock wave; until the shock wave moves to your position on the ground, you won’t hear the plane.

    Illustration of how disturbances propagate in subsonic, Mach 1, and supersonic flow.
    Chabacano/Wikimedia Commons, CC BY-SA

    The allure of supersonic travel

    For efficiency reasons, most passenger jets cruise slightly slower than the speed of sound, at around Mach 0.8 (this is subsonic flight).

    Boom plans to build an airliner called Overture that can fly at Mach 1.7. Flying supersonically can drastically decrease flight times. The company claims a trip from New York to Rome on Overture could take just four hours and 40 minutes, instead of eight hours.

    Boom isn’t the only company working on this lofty goal. American firm Spike Aerospace is also developing a supersonic business jet, with the tagline “delivering the world in half the time”.

    This is the value proposition of supersonic passenger travel.

    In limited ways, it did already exist in the 20th century. However, due to timing, bad luck and the laws of physics, it didn’t continue.

    Remember the Concorde?

    Designs for supersonic airliners began in the mid-20th century, and by the 1970s we had supersonic passenger flight.

    There was the little-known Russian Tupolev-144 and Concorde, a Franco-British supersonic airliner operated by British Airways and Air France from 1976 to 2003.

    Concorde had a capacity of up to 128 passengers and cruised at Mach 2. It regularly travelled from London to New York in around three hours. The flights were expensive, mainly shuttling business people and the rich and famous.

    British Airways Concorde in flight.
    Wikimedia Commons/Eduard Marmet, CC BY-SA

    Why supersonic passenger flight didn’t take off

    Concorde was designed in the 1960s when it seemed like supersonic passenger transport was going to be the next big thing.

    Instead, the Boeing 747 entered commercial service in 1970. Cheap, large and efficient airliners like it blew Concorde out of the water.

    Designed to cruise efficiently at supersonic speeds, Concorde was extremely fuel inefficient when taking off and accelerating. Concorde’s expensive, “gas guzzling” nature was a complaint levelled against it for most of its lifetime.

    A catastrophic 1973 Paris air show crash of the competing Russian airliner, Tupolev Tu-144, also shifted public perception on supersonic flight safety at a time when many airlines were considering whether or not to purchase Concordes.

    Only 20 Concordes were manufactured out of the planned 100. It is still disputed today whether Concorde ever made money for the airlines who operated it.

    Illustration of a shock wave propagating from a supersonic aeroplane and hitting the ground to produce a sonic boom.
    Cmglee/Wikimedia Commons, CC BY-SA

    Noise is a real problem for supersonic flight

    Remember the fighter jets? When a plane travels supersonically, its shock waves propagate to the ground, causing loud disturbances called sonic booms. In extreme cases they can shatter windows and damage buildings.

    In the early 1970s, sonic boom concerns led the United States government to ban supersonic passenger flight over land in the US. This hurt the Concorde’s potential market, hence its only two regular routes were trans-Atlantic flights principally over the water.

    The Concorde was also a very loud plane at take off, since it needed a lot of thrust to leave the ground.

    Video footage of the final Concorde takeoff from New York’s JFK airport.

    The future of supersonic travel

    A future for supersonic travel relies on solving some or all of the issues Concorde faced.

    NASA and Lockheed Martin’s Quesst project aims to show sonic boom can be dissipated to manageable levels. They plan to fly their X-59 supersonic aircraft over US cities and gauge responses from citizens.

    Quesst aims to use the geometry of the X-59, with a long elongated nose, to dissipate sonic booms to a weak “thump”, hopefully allowing supersonic airliners to travel over land in the future.

    NASA’s X-59 quiet supersonic research aircraft.
    NASA/Steve Freeman

    Spike Aerospace’s Spike S-512 Diplomat concept also aims to be a “quiet” supersonic aircraft with a less disruptive sonic boom.

    Can Boom surpass Concorde?

    Boom Supersonic don’t plan to fly supersonically over land. Their plan is to fly over land at Mach 0.94, which they claim will allow 20% faster overland travel than standard passenger airliners, even subsonically.

    They also claim the design of their engines will ensure Overture is no louder than modern subsonic airliners when it takes off.

    Rendering of Boom Supersonic’s Overture supersonic airliner on the runway.
    Boom Supersonic

    In terms of gas guzzling, they plan to use up to 100% sustainable aviation fuel to reduce emissions and their carbon footprint.

    Concorde was made of aluminium using design tools available in the 1960s. Modern design methods and modern aerospace materials such as titanium and carbon fibre should also allow Overture and similar craft to weigh much less than Concorde, improving efficiency.

    While Boom are currently receiving a lot of interest, with orders from many airlines, Concorde did have similar commitment before it become available. Most of it didn’t eventuate.

    Additionally, Concorde was the product of an analogue era when the idea of flying to London or New York for the day for an important business meeting seemed like a necessary thing. In a world of remote work and video meetings, is there still a need for a supersonic airliner in the 2020s?

    For now, supersonic airliners like Overture are likely to remain in the realm of the rich and famous, like Concorde did. But with modern technological advances, it will be interesting to see whether supersonic passenger travel once again becomes reality – or even goes mainstream. Only time will tell.

    Chris James receives funding from the Australian Research Council, the Commonwealth Defence Science and Technology Group (DSTG), and the US Office of Naval Research.

    ref. Supersonic jets are making a comeback – but despite the hype, don’t expect to book yet – https://theconversation.com/supersonic-jets-are-making-a-comeback-but-despite-the-hype-dont-expect-to-book-yet-248656

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Politics with Michelle Grattan: John Blaxland and Richard Holden talk about what Trump will mean for Australia

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    As Australia gears up for the election, the incoming government’ Labor or Coalition, will face global challenges, geo-political and economic, especially with Donald Trump starting to impose tariffs on selected countries including China,

    To discuss where Australia is placed to meet new circumstances we’re joined by two experts.

    John Blaxland is Director of the ANU North America Liaison Office, based in Washington, and Professor of International Security and Intelligence Studies. Richard Holden is Professor of Economics at UNSW.

    Blaxland outlines how Australia should continue to support the current international norms, and how changing norms could spell trouble,

    The rules based international order is something that we are going to feel the absence of quite keenly. For small and middle powers like Australia the reliance on that order has obviated the need to spend up a lot on military capabilities and that’s going to shift.

    We’ve seen the United States walking away from COP-related agreements but these arrangements still have global momentum and I would contend that Australia has an interest in continuing to support them as best as possible, particularly for the sake of our partners in the Pacific, but also just for our own sake.

    On who could deal with Trump better, Blaxland doesn’t think it would make a lot of difference,

    I don’t think the United States pays much attention to what happens internally in Australian politics and I think the Albanese government and Penny Wong and Richard Marles and others are wise to present as small a target as possible. The ALP is playing a difficult hand well in bilateral relations with the United States. Broadly it is still strongly in our interests to make that work as best we can.

    There’s no question there’s a closer Liberal-Trump alignment, and that may make it easier. But the economic and security relations are key and here it’s important to remember that the United States has a trade surplus with Australia and so that means we’re not in his [Trump’s] crosshairs immediately for having the opposite, and America is the biggest foreign direct investor in Australia by a country mile.

    Holden says of the economy internationally,

    The global economy is well on the way to recovering from the post-pandemic inflation, the associated increases in most advanced economies and interest rates in most of those jurisdictions, are coming down. In some of those, New Zealand is an example there’s been a real hit to the economy. But it’s generally looking reasonably positive with the one big looming thing, which is what happens to international trade as a result of the Trump tariff threats that are now starting to be put into action.

    But Holden is a bit more pessimistic about Australia’s economy,

    Not to be too gloomy about things, I think the news is a little less good. So the Prime Minister I heard on your podcast recently and the Treasurer talking about their last two budgets, and while they’re right that there has been two small budget surpluses, that’s really off the back of just an extraordinary windfall in terms of tax revenue.

    On debt,

    If you look going forward, even so far government decisions have added $78 to $80 billion to that debt and the recent mid-year update, MYEFO reports the cumulative debt for the next four years will be over $140 billion of the increase.

    I think there’s a sense that our fiscal house is really being put into really good shape and I don’t think that’s accurate.

    Michelle Grattan 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. Politics with Michelle Grattan: John Blaxland and Richard Holden talk about what Trump will mean for Australia – https://theconversation.com/politics-with-michelle-grattan-john-blaxland-and-richard-holden-talk-about-what-trump-will-mean-for-australia-248866

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: NH Delegation, Community Organizations, and Granite Staters Speak Out About Devastating Impact of Trump’s Cut to Federal Grants and Loans

    Source: United States House of Representatives – Congressman Chris Pappas (D-NH)

    The New Hampshire delegation joined Manchester School District Superintendent Jennifer Chmiel, Strafford County Community Action Partnership CEO Betsey Andrews Parker, Amoskeag Health CEO Kris McCracken, Professional Firefighters of NH and other New Hampshire organizations for a virtual event to outline the ways that President Trump’s halt of nearly all federal grants and loans is impacting New Hampshire families and communities. 

    You can watch the full press conference here.

    “The actions taken by the Trump Administration to freeze federal funds will have a devastating impact on communities across New Hampshire and will significantly hurt our state’s ability to address housing concerns, fight addiction, preserve public safety, and make sure that Granite Staters have what they need. These federal funds are more than just lines on a spreadsheet in Washington D.C. This is about people here in New Hampshire and the ability of our communities to come together to help those in need and build a stronger future for us all. This fight is not over, and my message to Granite Staters is that we will do all that we can to protect these resources and ensure that our communities remain healthy, strong, and safe,” said Congressman Pappas. 

    “We’ve got millions of people across the country, and thousands in New Hampshire, who have no idea if they’re going to be able to get the services that they’re depending on because the White House has been so confused about what they’ve done and they haven’t been able to issue any clear answers,” said Senator Shaheen. “We need to see the President repeal these executive orders because what he has done is not going to help people lower their food prices, pay their rents, get the child care that they need or the health care that they need for their families.” 

    “President Trump’s illegal cut of federal funds includes grants for police officers, firefighters, our efforts to crackdown on fentanyl, special education programs, small business loans, community health centers, homeless shelters for veterans…virtually every aspect of American life. The White House keeps sowing chaos and confusion about the status of this funding. But make no mistake. People’s safety, their jobs, their health, our fire and police departments…shouldn’t hang in the balance subject to the confused wordings and impulsive whims of the next tweet or memo,” said Senator Maggie Hassan.

    “This week I’ve traveled across the Second District — from the North Country to Nashua and from Keene to Concord. I’ve talked to our workers, teachers, police officers, firefighters, health care providers, small businesses, mayors, and town managers. The through line of every conversation has been an intense concern about the wide-ranging and devastating impacts that losing the federal funding promised to New Hampshire will have on our way of life,” said Representative Maggie Goodlander. “Real people right here in New Hampshire are paying the price for President Trump’s lawless, chaotic efforts to cut off federal funding. That is unacceptable. I will never stop fighting with every possible tool to deliver for New Hampshire.” 

    “Our priorities have not changed.  We will continue to provide services to our clients and support our team until we are directed otherwise.  We will adapt to the changing landscape so clients that depend on our agency for services such as childcare, fuel assistance, transportation, and food can continue to access these resources. We greatly appreciate the support of the New Hampshire delegation during this challenging time.” said Betsey Andrews Parker, CEO Community Action Partnership of Strafford County. 

    “The Portsmouth Police Department depends on federal grants to fund programs impacting local, seacoast, and statewide communities. Locally, federal grant funds are utilized for bulletproof vests for officers and enforcement patrols on our roadways, which include speed, distracted driving, DUI, and pedestrian/bike enforcement. With the help of federal dollars, we offer victim witness advocate services, staff training, and law enforcement equipment such as body-worn cameras and investigative equipment… the loss of these funds would reduce staff, significantly impact investigations into internet-based sexual crimes against children that have skyrocketed and continue to climb, and impact services for victims of crime, roadway safety, and the safety of our officers,” said Mark Newport, Chief of Police, Portsmouth Police Department in a letter. 

    “Uncertainty makes development difficult. While we work in a field rife with uncertainty, we know we can rely on our funding sources to be steady, when we have the funding we can move forward. It upsets our ability to commit to community projects when we cannot know whether or not the funding we have been awarded to build housing will actually be available to us when the time comes to call on those funds. In a relatively high-risk development environment, in a critical need area for our communities, we need the federal funds to be stable. Being left without promised funds on a project could easily mean the financial collapse of the project, a loss of years worth of time and effort. Depending on the projects size, it could have a major impact on our ability to operate,” said Harrison Kanzler, Executive Director, AHEAD Inc. 

    “As NH’s only center for independent living, serving thousands of individuals living with a disability, the consequences of EO-M-25-13, would have caused thousands of Granite Staters living with a disability to be left without critical services.  These services are in place to provide and assist with daily needs, including transportation, personal care, education, and workforce training.  The very services provided by GSIL and funded by federal grants, such as benefits counseling, workforce readiness, and transition services are an integral part in the promotion of living independently,” said Deborah Ritcey, MPA/HA, President & Chief Executive Officer, Granite State Independent Living (GSIL).

    “As a private non-profit community development corporation that is focused on providing affordable housing for granite staters, we have worked with numerous federal programs over the past thirty years, and the one thing we need to keep doing our work is consistency and reliability.  So when we are faced with distractions that cause chaos and confusion throughout our sector, it makes the difficult work of building affordable housing even that much more challenging,” said Robert Tourigny, Executive Director, NeighborWorks Southern New Hampshire.

     “While we were relieved that the Administration intended to exclude rental assistance from the spending freeze, funding that we rely on to provide self-sufficiency services to working families, build new affordable housing, and reduce our energy costs were all targeted. On behalf of the nearly 930 senior, disabled and working families we serve, we are grateful to all of the individuals, organizations and elected officials across the country for their advocacy,” said Joshua Meehan, Executive Director, Keene Housing.

    “Federal funding is a lifeline for Community Health Centers, which deliver comprehensive primary care, mental and behavioral health, dental, and other essential primary care services to over 330,000 patients across New Hampshire and Vermont. With the uncertainty around the status of health centers’ federal grant funding, we are extremely concerned about the ability of their patients to access the services they need,” said Tess Kuenning, President & CEO of Bi-State Primary Care Association.

    “Ammonoosuc Community Health Services is a federally qualified health center that integrated primary preventive services in the rural White Mountains of Northern New Hampshire to nearly 10,000 patients a year, across five strategically located care delivery sites. In fact, we serve 1 out of every 3 residents within our service area.  Our patients receive care that is nationally recognized.  Our outcomes for patient with depression or diabetes exceeds national healthy people goals since 2009, top two FQHC for colorectal cancer screening (2018), top 16 FQHC in overall cancer screening (2023).  All accomplished in a financially responsible manner where our annual financial audit has always been free of any concerns and 95% of our patients recommend us to friends, family and neighbors who need care. All in all we govern ACHS in a responsible and predictable manner.  As an FQHC we provide services to everyone, regardless of social and economic status. The President’s unprecedented and unannounced freeze on nearly all federal funding meant an immediate freeze on nearly $180,000 in monthly drawdown payments and catapulted my staff into 24 hours of uncertainty and chaos while we tried to get clarification from the administration. Clarification that never came. This type of governing is categorically not a responsible way to govern, has real world impacts, and wasteful in diverting critical resources away from our core mission of providing outstanding health care services to those in our community who need it most. As the CEO and steward of ACHS, The People’s Health Center, I take responsible governance seriously and I expect those elected by the people to take their responsibility seriously as well,” said Ed Shanshala, CEO, ACHS.

    On Monday, the Trump administration’s Office of Management and Budget (OMB) announced a sweeping executive order pausing almost all forms of federal assistance to states, nonprofits, non-governmental organizations and more. The full list that agencies were directed to review encompasses over 2,600 assistance programs, including Supplemental Nutrition Assistance (SNAP), Women, Infants and Children (WIC), community health centers, the Community Development Block Grant (CDBG), transportation and highway funding, energy assistance programs, water infrastructure funding, State Opioid Targeted Response grants, GI Bill, veteran compensation for service connected disabilities, Section 8 housing vouchers, school breakfast and lunch, Title I education grants, Temporary Assistance for Needy Families (TANF) and Head Start.

    MIL OSI USA News

  • MIL-OSI USA: Congressman Danny K. Davis, Westside Black Elected Officials, and Community Leaders Denounce Donald Trump’s Economic Policies That Harm Black Communities

    Source: United States House of Representatives – Congressman Danny K Davis (7th District of Illinois)

    Chicago, IL – [Date] – Congressman Danny K. Davis (IL-07), joined by Westside Black Elected Officials and community leaders, held a press conference today to condemn Donald Trump’s economic policies and financial decisions, which have disproportionately harmed African Americans and working-class families. The speakers emphasized the devastating impact of Trump’s administration, which prioritized corporate interests over everyday people, cutting vital programs and services that communities rely on.

    “Donald Trump’s financial policies have gutted funding for minority-owned businesses, weakened housing protections, cut safety net programs, and widened the racial wealth gap,” said Congressman Danny K. Davis. “We are here today to say loud and clear: We will not stand by while our communities are under attack. We are not going back!”

    Trump’s administration has proposed and implemented policies that:

    • Eliminate funding for minority-owned businesses, limiting opportunities for Black entrepreneurs to create jobs and build wealth.
    • Community Health Centers: Critical federal funding supporting over 30 million low-income patients is frozen, creating chaos for those relying on essential healthcare services.
    • Rollback housing protections, leading to increased evictions and foreclosures in Black communities.
    • Slash social safety net programs, including food assistance and healthcare subsidies, putting a heavier burden on low-income families.
    • Push tax policies that favor the wealthy, further widening the racial wealth gap.

    Speakers at the press conference included Ald. Emma Mitts, Chairperson of Westside Black Elected Officials, who decried the attacks on diversity, equity, and inclusion:

    “As Chairperson of the Contracts Oversight and Equity Committee for the City of Chicago, I hear firsthand how diversity, equity, and inclusion programs are being erased. These policies have helped ensure economic opportunity for Black communities. Now, we are being told to go backward. Well, we refuse.”

    State Rep. La Shawn K. Ford underscored the impact on education and public institutions:

    “Trump’s cuts to Pell Grants and affirmative action programs will devastate public universities. Black and minority students will struggle to access higher education, and diversity programs will be dismantled. This will impact not just Black students, but all students.”

    Cook County Commissioner Tara Stamps emphasized the privatization of essential services:

    “This is about oligarchy—the wealthy few taking from the many. Public hospitals, public education, and social services are being privatized, making access to healthcare and education harder for those who need it most.”

    President of the Metropolitan Water Reclamation District Kari Steele linked these economic cuts to climate change and infrastructure:

    “Infrastructure funding is critical, but under Trump’s leadership, we saw key environmental and infrastructure investments neglected. We are moving forward, not backward, and we need leaders who prioritize clean water, climate resilience, and public health.”

    Community Leader Jackie Reed called out Trump’s divisive leadership:

    “A nation divided cannot stand. And that’s exactly what Trump has done—divided families, communities, and the nation. We cannot allow his policies to strip our communities of resources and dignity.”

    Community Leader Donald Dew echoed the urgency of action:

    “Martin Luther King Jr. spoke of the fierce urgency of now. That urgency is here. Trump’s policies are a direct threat to the most vulnerable—people with disabilities, mental health needs, veterans, and children. If we do not act now, our communities will suffer.”

    Dr. Elizabeth Lockhart focused on the attack on veterans:

    “Trump’s policies have hurt veterans—those who put their lives on the line for this country. Their healthcare, benefits, and resources are being stripped away. How can we call ourselves a great nation if we abandon those who served?”

    Community Leader Stephen Robinson issued a stark warning:

    “Donald Trump has put everyone on the menu. If you think you are exempt, you are wrong. Black, brown, white—his policies hurt all working people. We must unite to fight back.”

    Former Senator Rickey Hendon closed with a call for accountability:

    “We must stand up and demand leadership that works for the people. The facts are clear—Trump’s policies favor the rich and leave the rest of us struggling. We will not go back.”

    Congressman Davis and community leaders urged immediate action to ensure economic justice and accountability.

    “Elections have consequences,” Congressman Davis concluded. “If we want an economy that works for everyone—not just billionaires—we must organize, mobilize, and vote.”

    MIL OSI USA News

  • MIL-OSI USA: DelBene, Moore, McCaul, Matsui, Moolenaar, and Krishnamoorthi Reintroduce Legislation to Bolster American Semiconductor R&D

    Source: United States House of Representatives – Congresswoman Suzan DelBene (1st District of Washington)

    Today, Representatives Suzan DelBene (WA-01), Blake Moore (UT-01), Michael McCaul (TX-10), Doris Matsui (CA-07), John Moolenaar (MI-02), and Raja Krishnamoorthi (IL-08) introduced the Semiconductor Technology Advancement and Research (STAR) Act, legislation that would establish an investment tax credit for semiconductor design expenses to support and advance the United States’ semiconductor research and development initiatives.  

    Semiconductor design is a research and development activity that works to improve how chips process information and enable increasingly complex modern technologies. The STAR Act would allow for a 25% tax credit for semiconductor design research and development expenditures and extends the 48D manufacturing tax credit for the next 10 years. Semiconductors are key to maintaining America’s technological leadership, playing a vital role across industries like defense, health care, energy, agriculture, and transportation. As countries around the world continue to out-invest the United States in semiconductor research and development, the STAR Act will ensure semiconductor intellectual property is developed and secured in the United States. 

    “Semiconductors are critical to our economy, powering everything from cars to cellphones. Congress made great strides with the passage of the Chips & Science Act, but we need to continue investing in domestic chip production to ensure that America remains a global leader in this critical economic and national security technology,” said DelBene. “The bipartisan legislation we’re introducing today will support further semiconductor research and workforce development, strengthen our economic security, reduce reliance on foreign supply chains, all while creating good-paying jobs in our communities.” 

    “Semiconductors are the linchpin to the technologies of the future in countless sectors, from health care to defense to energy, and they are critical to U.S. national security and global competitiveness,” said Moore. “I thank my colleagues for their partnership in reintroducing the STAR Act, and I look forward to the investment incentives this bill will bring to enhance U.S. leadership in chip design and maintain a secure value chain for these innovations.” 

    “U.S. production of semiconductor chips is an economic and national security imperative, which is why I authored the CHIPS for America Act — to decrease our reliance on other countries for these critical assets,” said McCaul. “I am proud to co-sponsor the bipartisan STAR Act to build on that success, further bolstering our national security and bringing high-paying jobs to our communities. The chip revolution is the greatest technological advancement since the Manhattan Project, and I look forward to cementing the United States as the global leader in semiconductor research and design.” 

    “As we roll out the transformative investments of the CHIPS Act, we have a unique opportunity to lay the groundwork for generational leadership in semiconductor innovation and job creation,” said Matsui. “We must continue to build upon the investments that the CHIPS Act jumpstarted and continue to ensure that the U.S. leads the entire supply chain for semiconductor technologies, from design through manufacturing, for generations to come. This legislation will supercharge high-wage jobs in semiconductor design which are vital for the California economy. In tandem with CHIPS Act investments, these tools will continue to secure American’s position as the global pacesetter for innovation.” 

    “This bipartisan legislation cuts taxes, protect jobs, and levels the playing field for American chipmakers,” said Moolenaar. “The STAR Act fuels innovation, ensuring America stays ahead of the curve. We’re proud to empower US chipmakers to outpace Chinese competitors that steal American intellectual property and benefit from massive state subsidies.” 

    “At a time when semiconductors increasingly drive the future of technology, the United States must strengthen its domestic semiconductor industry, including our development and research capacity,” said Krishnamoorthi. “Our bipartisan legislation meets this need by providing incentives for investments in domestic semiconductor R&D to help ensure continued American leadership in chip design that will safeguard our national and economic security.” 

    DelBene, Moore, McCaul, Matsui, Moolenaar, and Krishnamoorthi are also joined by Representatives Vern Buchanan (FL-16), Ro Khanna (CA-17), Claudia Tenney (NY-24), Joe Morelle (NY-25), André Carson (IN-07), Josh Gottheimer (NJ-05), Sewell (AL-07), and Jimmy Panetta (CA-19) in reintroducing this bill. 

    A copy of the bill can be found here.  

    MIL OSI USA News

  • MIL-OSI USA: Rep. Roy reintroduces bill to designate drug cartels as foreign terrorist organizations

    Source: United States House of Representatives – Representative Chip Roy (R-TX)

    WASHINGTON — Today, Congressman Chip Roy (TX-21) reintroduced the Drug Cartel Terrorist Designation Act, which would direct the State Department to designate Mexican drug cartels as foreign terrorist organizations (FTOs).

    The bill would direct the Secretary of State to designate the Gulf Cartel, the Cartel Del Noreste, the Cartel de Sinaloa, and the Cartel de Jalisco Nueva Generacion as FTOs and codify President Trump’s Executive Order into law. 

    An FTO designation would provide the federal government with more authorities to combat these cartels, including additional investigative and intelligence resources, the ability to apply stiffer penalties on FTO affiliates, revoking visas of FTO members in the U.S., and freezing FTO assets in U.S. financial institutions.

    Congressman Roy said the following about the bill: “The cartels have spent the last four years exploiting our border to profit off of misery, fear, and death. Now that their open-borders cash flow is about to dry up, they have resorted to planting live explosives on the Texas border and shooting at Border Patrol agents in broad daylight. They are terrorists, and we need to treat them like it. 

    That’s why I started pushing the Trump administration for FTO designations during my first few months in Congress back in 2019. President Trump’s day-one order to designate them as FTOs and give U.S. authorities more tools to take them down was the right move, but Congress needs to ensure it can’t be undone by a future administration. Equally as important, my bill affirms that foreign nationals cannot use an FTO designation as grounds for asylum.  Let’s take this bill up, put it on President Trump’s desk, and take these terrorist criminals down once and for all.”

    Congressman Roy is proud to be joined by Reps. Ryan Zinke (MT-1), Andy Biggs (AZ-5), Michael Cloud (TX-27), Clay Higgins (LA-3), Pat Fallon (TX-4), Josh Brecheen (OK-2), Paul Gosar (AZ-9), Jodey Arrington (TX-19), Andy Ogles (TN-5), Randy Weber (TX-14), Byron Donalds (FL-19), Beth Van Duyne (TX-24), Keith Self (TX-3), and Roger Williams (TX-25) in introducing this legislation. 

    Comments from supporting organizations:

    Texas Public Policy Foundation

    “It is all too easy for one president to the next to completely dismantle our national security efforts. We applaud all members of Congress seeking to immediately codify the excellent executive orders President Trump signed to strengthen border security and protect American communities. With this legislation enacted, it will not be so easy for any incoming president to undo such important work.”

    -Greg Sindlear

    America First Policy Institute

    “America First Policy Institute proudly supports Congressional border security efforts to address an imminent threat to the homeland – transnational criminal organizations. Securing the homeland for the American people should be the top priority for Congress, and this effort is an important first step to empowering law enforcement efforts and holding TCOs accountable.” 

    -Chad Wolf, Executive Director, Chief Strategy Officer and Chair for the Center for Homeland Security and Immigration 

    The full text of the legislation is available here

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    MIL OSI USA News

  • MIL-OSI USA: Congressman Raja Krishnamoorthi, Nine Colleagues, Introduce Bipartisan Legislation to Preserve and Protect Medicare for Physicians and Patients

    Source: United States House of Representatives – Congressman Raja Krishnamoorthi (8th District of Illinois)

    WASHINGTON – Today, Congressman Raja Krishnamoorthi (D-IL) joined with nine of his Democratic and Republican colleagues in reintroducing the bipartisan Medicare Patient Access and Practice Stabilization Act, legislation which would support physicians and protect access to care for those receiving Medicare benefits. With staff and operating costs continuing to climb, declining reimbursement rates could lead to layoffs, reduced services, and permanent closures of care facilities, especially in underserved and rural areas.

    On January 1, 2025, Medicare reimbursement cut of 2.83 percent went into effect despite a physician shortage in America. and that Medicare reimbursement for physician services have declined 33 percent from 2001 to 2025, according to the American Medical Association. With the Centers for Medicare and Medicaid Services (CMS) estimating a projected 3.6 percent increase in practice cost expenses this year alone, physicians could see a total 6.43 percent cut unless Congress takes action.

    Joining Congressman Krishnamoorthi are Reps. Greg Murphy (R-NC), Jimmy Panetta (D-CA), John Joyce (R-OH), Raul Ruiz (D-CA), Mariannette Miller-Meeks (R-IA), Kim Schrier (D-WA), Claudia Tenney (R-NY), Ami Bera (D-CA), and Carol Miller (R-WV).

    “America’s seniors deserve timely access to the best quality of care from physicians in their own communities, but Medicare reimbursement cuts gravely endanger that access,” Congressman Raja Krishnamoorthi said. “Our bipartisan legislation would not only prevent those dangerous cuts but also ensure that seniors continue to have access to the high-quality medical care they deserve.”

    “Physicians in America are facing unprecedented financial viability challenges due to continued Medicare cuts. Access to affordable and quality health care for millions of seniors is in severe jeopardy,” Congressman Greg Murphy, M.D., said. “Doctors see Medicare patients out of compassion, not for financial gain. The cost of caring for a Medicare patient far outpaces the reimbursement that physicians receive for seeing them. On top of that, the expense of providing care continues to rise due to medical inflation. This inflation, coupled with declining reimbursement rates, creates enormous financial pressures on physicians, forcing many to retire early, stop accepting new Medicare patients, or sell out to larger, consolidated hospital systems, private equity, or even insurance companies. The future of private practice medicine, the most cost-efficient and personalized care, is in dire straits. This bipartisan legislation prevents further cuts, provides a modest inflationary adjustment to help ease the cost of care, and ensures Medicare remains viable for both doctors and patients.”

    “Medicare payments to physicians in California’s 19th Congressional District and around the country have not reflected economic realities and rising costs of healthcare,” Congressman Jimmy Panetta said. “The Medicare Patient Access and Practice Stabilization Act would ensure that providers are not penalized by harmful cuts while adjusting reimbursements for inflation.  By passing this bipartisan legislation, we will protect seniors’ access to quality care and support the providers who make it possible.”

    “Throughout the country, we have seen more consolidation and less access within our health care system,” Congressman John Joyce, M.D., said. “Now, after yet another cut to the physician fee schedule, more physicians will be forced to limit the number of Medicare patients they see, or in some cases, shutter their doors. This will result in a lack of access to care for many Medicare beneficiaries. While the price to administer high-quality care has continued to rise over the last twenty years, the Medicare reimbursement rate for physicians has continued to drop. I’m proud to be part of a bipartisan solution to ensure that patients, especially those in rural and underserved areas, can continue to receive the care they need and want from the physicians they know and trust.”

    “Medicare is essential to ensuring seniors have access to care, especially in rural and under resourced communities,” Congressman Raul Ruiz, M.D., said. “Rising costs and administrative burdens make it clear that Medicare reimbursement policies must reflect the true costs of providing care. I’m proud to support the Medicare Patient Access and Practice Stabilization Act which will help make sure seniors have access to the care they deserve.”

    “Access to quality healthcare is something every senior deserves, but declining Medicare reimbursement is putting that access at risk,” Congresswoman Mariannette Miller-Meeks, M.D., said. “The bipartisan Medicare Patient Access and Practice Stabilization Act is crucial to reversing the damaging trend of cuts that threaten our healthcare providers, especially in underserved communities. We must act now to prevent further early retirement, burnout, and consolidation in our system, ensuring that every Medicare beneficiary receives the care they need and deserve.”

    “Over the past 22 years, adjusting for inflation, physicians have essentially taken a 26% pay cut from Medicare,” Congresswoman Kim Schrier, M.D., said. “Their reimbursement has been flat or declining, while overhead costs have increased by about 47%: rent, labor, equipment, and insurance. I cannot think of another profession whose compensation has dropped by 26% over 2 decades. Physicians have been holding their breath, year after year, hoping that Congress will act to avert these devastating decreases in reimbursement. Without adequate reimbursement, solo and small practice physicians—most often in rural or underserved areas—are already closing their doors. It’s up to Congress to ensure that physicians are fairly compensated and can continue to practice, so that all Medicare patients have access to high-quality, affordable care, and I am proud to co-sponsor legislation that will achieve just that.”

    “Preventing the impending Medicare reimbursement cuts to physicians is critical to ensuring seniors have access to the high-quality care they deserve,” Congresswoman Claudia Tenney said. “Financial stability for providers isn’t just a matter of fairness—it’s essential for protecting access to care, particularly in rural and underserved areas like western New York where physician shortages have been a persistent challenge. The rising cost of delivering care, coupled with increasing administrative burdens, makes it clear that Medicare payment policies must evolve to reflect the true costs faced by physicians.” 

    “Having an outdated Medicare reimbursement rate for physicians makes it harder for healthcare professionals to provide high-quality care, putting patients at risk,” Congressman Ami Bera, M.D., said. “Physicians, unlike the rest of the players in health care, have never received an inflationary update and consistently received cuts. This bill ensures a more stable Medicare payment system, allowing providers to focus on delivering care rather than worrying about losing their practice. With this bipartisan effort, we are working toward a system that supports both doctors and patients.”

    “Seniors in West Virginia and across the country should not lose access to their local health care because of reimbursement cuts,” Congresswoman Carol Miller said. “The bipartisan Medicare Patient Access and Practice Stabilization Act would increase funding for services that are necessary for Medicare patients. Physicians should have the resources they need to treat their patients and everyone, regardless of where they live, should have access to quality medical care.”

    MIL OSI USA News

  • MIL-OSI USA: Boyle Statement on Trump Administration Implementing 25 Percent Tariffs on Mexico and Canada Tomorrow

    Source: United States House of Representatives – Congressman Brendan Boyle (13th District of Pennsylvania)

    Philadelphia, PA – Congressman Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee and Member of the House Ways and Means Committee, released the following statement after the White House announced that the Administration will impose a 25 percent tariff on Canada and Mexico starting tomorrow: 

    “Donald Trump and his Republican allies love to claim they’re fighting for the American worker, but their actions tell a different story. Slapping a reckless 25% tariff on Canada and Mexico won’t protect American jobs—it will drive up costs and make life more expensive for middle-class families. 

    These tariffs mean higher prices for everyday essentials. Families will pay more for fruits, vegetables, dairy, and meat. Manufacturers will face rising costs for parts and materials, putting good-paying American jobs at risk. 

    Let’s be clear: tariffs are taxes. Trump’s policies will squeeze farmers, workers, and small businesses while the wealthiest corporations and billionaires continue to cash in on massive tax breaks. 

    I stand with American workers, not phony populists who talk tough but sell them out at every turn. Democrats will keep fighting for real trade policies that protect jobs, keep prices fair, and strengthen our economy—without forcing the middle class to pay the price.

    MIL OSI USA News

  • MIL-OSI USA: Golden statement on President Trump’s new tariffs

    Source: United States House of Representatives – Congressman Jared Golden (ME-02)

    WASHINGTON — Congressman Jared Golden (ME-02) released the following statement regarding President Trump’s imposition of new tariffs on Canada, Mexico and China: 

    “President Trump campaigned on tariffs as a tool to level the playing field between American workers and industries and our foreign competitors,” Golden said. “I don’t agree with Trump on everything, but he’s right that the old deal stinks, and we need a new one.” 

    “Tariffs push back against decades of free trade and globalization that prioritized low prices above all else. It was a race to the bottom that left America deep in trade debt and dependent on foreign nations and gutted our manufacturing sector, domestic supply chains, and entire middle-class communities. 

    “By privileging our own production and industries — something other countries already do tariffs can help us rewire our economy for production, not just consumption. We can incentivize job creation and manufacturing while leveling the playing field and rebalancing our trade. These tariffs are also a leveraging tool to help crack down on the deadly flow of fentanyl into our country. 

    “Reversing the damage of decades of globalization will take time. In the meanwhile, every dollar raised in tariff revenue should be used to offset costs for Americans or invest in and protect American jobs and industries. Paired with increased energy production, support for unions, regulatory reform, and infrastructure investment, tariffs are one piece of the puzzle for building a strong, production-based economy that works for working families.”

     

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    MIL OSI USA News

  • MIL-OSI USA: Rep. Sara Jacobs, Sen. Tammy Duckworth Seek to Protect IVF Coverage in Final NDAA

    Source: United States House of Representatives – Congresswoman Sara Jacobs (D-CA-53)

    October 24, 2024

    Rep. Sara Jacobs (CA-51) and Sen. Tammy Duckworth (D-IL) continued their push to ensure the FY2025 National Defense Authorization Act (NDAA) preserves the requirement contained in both the House-passed and Senate-reported versions of NDAA that requires TRICARE coverage of fertility services, including in vitro fertilization (IVF). In a letter to House and Senate Armed Services Committee leadership, the lawmakers – who authored and successfully secured inclusion of the IVF coverage provisions in the House and Senate bills, respectively – called for service members and military families to receive the same level of IVF coverage that’s accessible to Members of Congress and Federal employees next year.

    Two-thirds of service members, who often spend their prime reproductive years in hazardous conditions and away from their partners, have reported experiencing family-building challenges after returning home. As a result, many TRICARE beneficiaries pay tens of thousands of dollars in out-of-pocket costs for fertility treatment. Expanding IVF coverage would strengthen recruitment, retention, and readiness efforts – all while supporting those who have sacrificed greatly for the United States.

    Read Rep. Sara Jacobs’ and Sen. Tammy Duckworth’s Letter Here

    The lawmakers wrote:

    “Because of hard work conducted under your respective leadership of the Senate Armed Services Committee (SASC) and House Armed Services Committee (HASC), Congress is poised to ensure the final legislative text of the National Defense Authorization Act for Fiscal Year 2025 (NDAA) preserves language contained in both the House-passed and Senate-reported versions of the NDAA that require TRICARE cover fertility services, including in vitro fertilization (IVF).

    “Accordingly, we write to request that in negotiating the final conference report to accompany the NDAA, you ensure U.S. servicemembers and military families receive IVF coverage in 2025 that is on par with the IVF coverage Members of Congress and Federal employees will be provided access to in 2025 by taking one of these courses of action:

    • House recedes regarding Section 701 of H.R. 8070, and the final bill includes Section 705 of S. 4638;
    • Senate recedes regarding Section 705 of S. 4638 and the final bill includes Section 701 of H.R. 8070; or
    • The final bill merges and harmonizes Sections 701 and 705.

    “Since HASC added the provisions (sec. 701) requiring TRICARE cover fertility services, including IVF, by voice vote without controversy; and then House Republicans chose to preserve these Democratic-authored provisions in the version of the NDAA that the House narrowly passed along party-lines; we are hopeful that achieving fertility benefit parity between Members of Congress, Federal employees and members of the U.S. Armed Forces can avoid controversy and be preserved in the final NDAA that President Joe Biden signs into law.

    “In the coming months, Members of the U.S. House of Representatives and United States Senators will have the opportunity to select health insurance from 2025 marketplace plans that all include high quality, affordable fertility benefit coverage—including excellent IVF coverage that, absent action by Congress, will be far superior to the restrictive fertility benefit coverage offered to U.S. servicemembers and military families under current law. Under the Federal Employees Health Benefits program, Federal employees will also receive high quality fertility benefit coverage, including IVF, in 2025.

    “Importantly, every Member of Congress will be able to enroll in a 2025 marketplace plan that covers IVF services provided in accordance with widely accepted and evidence-based medical standards of care and the American Society for Reproductive Medicine’s (ASRM) professional guidelines—which includes coverage of at least three complete oocyte retrievals with unlimited embryo transfers from those oocyte retrievals, and standard fertility preservation services.

    “We strongly believe U.S. servicemembers and military families deserve fertility benefit coverage in 2025 that is at least comparable to what Members of Congress will receive.

    “It would be hypocritical for Members of Congress to enjoy high quality fertility benefit coverage next year, right on the heels of denying such IVF coverage to brave Americans willing to defend our country in uniform, and the dedicated military families that sacrifice to support their loved ones’ service to our great country. That is why we strongly agree with the position taken by a broad coalition of Military Service Organizations (MSOs) and Veterans Service Organizations (VSOs) that these MSOs and VSOs expressed to you in their October 10, 2024, joint letter:

    ‘The health care benefit is an earned benefit and an essential part of military compensation. Coverage should not be contingent on a service member’s willingness or ability to accept an additional service commitment. For that reason, we caution Congress against adopting Section 627 of S. 4638, which would require a service member benefiting from expanded reproductive health coverage to accept an additional service commitment of four years. Again, military members deserve coverage that is on par with civilian plans, and civilian plans make no such demands of their beneficiaries [emphasis added].’

    “We share the opposition of MSOs and VSOs to including Section 627 of S. 4638 in the final bill text because it falls woefully short of providing servicemembers and their families with comparable coverage to the coverage Members of Congress receive. Unfortunately, Section 627 goes beyond TRICARE fertility coverage requirements and injects controversial and divisive language relating to abortion services and embryonic personhood, which are contrary to the bipartisan tradition of the NDAA and distract from what should be our overriding priority: making sure that in 2025, U.S. servicemembers and military families receive high quality and affordable fertility services coverage that is on par with fertility benefits that Members of Congress and Federal employees will receive in the coming year.

    “Servicemembers are disproportionately impacted by infertility and face unique challenges in trying to start and build their families. Two-thirds of servicemembers, who often spend their prime reproductive years in hazardous conditions and away from their partners, have reported family-building challenges due to military service. Most TRICARE beneficiaries must pay out of pocket for fertility treatment, costing tens of thousands of dollars, all while navigating challenging duty station moves and a complex healthcare system bureaucracy.

    “Failing to provide high-quality IVF coverage through TRICARE would perpetuate an unfair system that forces military families to confront an impossible and unjust choice between serving their country in uniform or starting a family without the risk of financial ruin. We are gravely concerned that this will inevitably deter recruitment and retention efforts and ultimately decrease our Nation’s military readiness. Providing U.S. servicemembers and military families with robust IVF coverage is the least we can do for those Americans who have sacrificed so much for us.

    “We thank you in advance for your consideration of our request to make sure that we complete the mission of ensuring members of the U.S. Armed Forces achieve parity with Members of Congress and the civil service by finalizing a conference report and passing a NDAA that, for the first time in history, requires TRICARE cover fertility services, including IVF, without harmful and onerous restrictions that violate widely accepted and evidence-based medical standards of care and fail to comport with ASRM professional guidance.”

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    MIL OSI USA News

  • MIL-OSI USA: Congresswoman Bush Joins Congresswoman Ramirez, Local Leaders Call for an End to the Tax Evasion Driving Puerto Rico’s Crisis of Displacement

    Source: United States House of Representatives – Congresswoman Cori Bush (MO-01)

    October 25, 2024

    Washington, D.C. (October 25, 2024) — Yesterday, Congresswoman Cori Bush (MO-01) joined Representatives Delia C. Ramirez (IL-03), Congresswoman Nydia Velázquez (NY-07) and Alexandria Ocasio-Cortez (NY-14), in announcing the introduction of United with Puerto Ricans Opposed to Act 22 Risks (UPROAR) Act. The UPROAR Act urges the Puerto Rican and federal governments to address Act 22 and stop the exploitation of federal tax loopholes that result in millions in lost revenues for local communities.

    Created to incentivize investment in the Puerto Rican economy, Act 22, now part of Act 60, has created a tax haven for American millionaires and billionaires, allowing them to avoid federal and local taxes. According to reports, Act 22 beneficiaries are raising housing costs and displacing Puerto Ricans, endangering important nature reserves and historical sites, destabilizing the island’s already weak electrical grid, and influencing local elections through unprecedented donations.

    Recently, the IRS revealed to Congress that 647 Americans who received the benefits of Act 22 paid $557,978,112 in federal taxes during the five years before moving to Puerto Rico, representing million-dollar losses for the federal government and the social programs that are supported by them. Likewise, the government of Puerto Rico estimates that the island will lose around $4.5 billion in income between 2020 and 2026 due to Act 22. 

    “I proudly join in solidarity with my colleagues and the advocates and community members from across the Puerto Rican diasporas who are speaking out against the Act 22 tax loophole,” said Congresswoman Bush. “This policy is a handout to wealthy tax evaders moving to Puerto Rico and could cost the island an estimated $4.5 billion in tax revenues from 2020 to 2026. The loophole has exacerbated the housing crisis and increased displacement of Puerto Rican residents. This Resolution is a crucial step toward protecting the future of Puerto Rico and its communities. It’s time for Congress to demand accountability for the tax evasion created by Act 22 while supporting the self-determination of the Puerto Rican people.”

    “As Congress prepares to debate the funds available for safety net programs, we must urgently address Act 22 in Puerto Rico and the exploitation of federal tax loopholes that allow wealthy Americans to avoid their responsibility to pay local and federal taxes. I am proud to join a community of organizers in my district and Puerto Rico to introduce a resolution that puts tax evaders on notice. Enough is enough,” said Congresswoman Ramirez. “From Puerto Rico to IL-03, our communities deserve accessible housing, access to their lands, and an economy and democracy that works for them.”

    “Act 22 has caused unprecedented damage in Puerto Rico, fueling displacement, rising prices, and reckless development across the island. At the same time, the law has led to tax avoidance on the mainland, depriving the federal government of billions of dollars of critical revenue. From the IRS to Congress, we need a whole of government approach to examine how this law is hurting Puerto Ricans and take action to mitigate its damage. I was proud to work with Representatives Ramirez and Ocasio-Cortez to elevate this issue and urge the federal government to increase oversight and transparency around this predatory law,” said Congresswoman Nydia M. Velázquez

    In addition to Congresswoman Bush, the resolution is cosponsored by Reps. Ro Khanna (CA-17), Raul Grijalva (AZ-07), Dan Goldman (NY-10), Adriano Espaillat (NY-13), Rashida Tlaib (MI-12), Barbara Lee (CA-12), Jim McGovern (MA-02).

    “Wealthy Americans moving to Puerto Rico are driving up the cost of living while not having to pay their fair share due to federal tax loopholes. I’m proud to join Congresswoman Ramirez to close these loopholes that are depriving Puerto Rico’s schools and infrastructure of critical funding,” said Congressman Ro Khanna

    The UPROAR resolution is endorsed by local, national, and Puerto Rican organizations like Alianza for Progress, Power 4 Puerto Rico, Puerto Rican Agenda, Puerto Rican Cultural Center, Losing Puerto Rico, El Otro Puerto Rico, the National Puerto Rican Agenda, Esperanza, Popular Democracy, Construyamos Otro Acuerdo, Ayuda Legal Puerto Rico, Sembrando Sentido, Coalición PR No Se Vende, Vamos PR, Sindicato Puertorriqueño de Trabajadores (SPT), Mi Patria, Boricuas Unidos en la Diáspora (BUDPR), New York Communities for Change (NYCC), Vocal New York, Churches United for Fair Housing (CUFFH), and Hedge Clippers.

    Read the full resolution here. 

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    MIL OSI USA News

  • MIL-OSI USA: House Unanimously Passes Strickland Military Life Insurance Bill

    Source: United States House of Representatives – Congresswoman Marilyn Strickland (WA-10)

    Washington, DC – Today, the U.S. House of Representatives voted to pass the Fairness for Servicemembers and their Families Act of 2024, introduced by Congresswoman Marilyn Strickland (WA-10) and Congressman Don Bacon (NE-02). The legislation is bipartisan and bicameral and ensures life insurance packages for servicemembers and veterans account for changes in the economy.

    [embedded content]

    Click here to watch Congresswoman Strickland’s remarks

    “Our servicemembers put their lives on the line for their country, and we must secure the well-being of the families and loved ones in the event of a tragedy,” said Strickland. “The passage of this bill makes it clear that Congress continues to stand by our military families.”

    Companion legislation was introduced in the Senate by Senators John Cornyn (R-TX), Maggie Hassan (D-NH), Mike Braun (R-IN), Ted Cruz (R-TX), Angus King (I-ME), Mazie Hirono (D-HI), and Mark Kelly (D-AZ).

    The bill improves the financial safety net for veterans, servicemembers, and their families by helping to ensure coverage amounts for the Servicemembers’ Group Life Insurance (SGLI) and the Veterans Group Life Insurance (VGLI) account for changes in economic trends.

    U.S. Representative Marilyn Strickland serves on the House Armed Services Committee and the House Transportation and Infrastructure Committee. She is whip for the Congressional Black Caucus, a member of the New Democrat Coalition, and one of the first Korean-American women elected to Congress.

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    MIL OSI USA News

  • MIL-OSI USA: Rep. Boebert’s Arkansas Valley Conduit Bill Receives Hearing

    Source: United States House of Representatives – Representative Lauren Boebert (Colorado, 3)

    WASHINGTON D.C.—The House Natural Resources Subcommittee on Water, Wildlife and Fisheries held a hearing on Congresswoman Lauren Boebert’s H.R. 9514, the Finish the Arkansas Valley Conduit Act. The important step included supportive testimony from Congresswoman Boebert, the Southeastern Colorado Water Conservancy District, and the U.S. Bureau of Reclamation.

    “Access to clean water is not a luxury, it is a necessity, and Southeast Colorado families and businesses deserve a reliable and sustainable water supply,” said Congresswoman Boebert. “It’s time we finally fulfill the promise the federal government made to the communities I represent in Colorado and Finish the Arkansas Valley Conduit Act.”

    H.R. 9514, the Finish the Arkansas Valley Conduit Act, eliminates interest payments for the non-federal costs of the Arkansas Valley Conduit and extends the repayment period for this project from 50 to 100 years. The Arkansas Valley Conduit was originally approved for construction as part of the Fryingpan-Arkansas Project that was signed into law by President John F. Kennedy in 1962. Once completed, the Arkansas Valley Conduit will provide water to as many as 50,000 Coloradans across 40 communities in Pueblo, Otero, Bent, Kiowa, Prowers and Baca Counties.

    The Finish the AVC Act eases the burden of inflation costs that have caused the original $640 million estimate cost of construction in 2019 to rise to more than $1.3 billion. There have been a number of modifications to the proposed Arkansas Valley Conduit over the years that have reduced costs by as much as $200 million. 

    “The Arkansas Valley Conduit will provide a new surface water source of high quality so that safe drinking water standards can be achieved within the financial ability of the local communities,” testified Bill Long, President of the Southeastern Colorado Water Conservancy District. “We thank Representative Boebert for her leadership in introducing this legislation and our District urges the passage of H.R. 9514.”

    Radium, uranium, and other naturally occurring elements are found in the surface and groundwater in Southeastern Colorado, and the water quality is problematic year-round because of its salinity, selenium, sulfate, hardness, and manganese levels. The Bureau of Reclamation has found that these contamination levels are so severe that local communities could see the costs of their drinking water triple without this legislation.

    “The Department supports efforts to improve access to reliable, clean drinking water as an essential human need that is critical to the public health, well-being, educational attainment, and economic development of all communities in the United States,” said Roque Sanchez, Deputy Commissioner of the U.S. Bureau of Reclamation. “The modifications proposed under H.R. 9514 are within that commitment and necessary to ensure that the costs of the AVC remain reasonable and affordable for the rural communities that will depend on it.”

    Full text of Rep. Boebert’s House legislation can be found HERE.

    MIL OSI USA News