Category: Economy

  • MIL-OSI China: China becomes largest online retail market for 12 consecutive years

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

    BEIJING, Jan. 24 — China has become the world’s largest online retail market for 12 consecutive years, with online retail sales reaching 15.5 trillion yuan (about 2.16 trillion U.S. dollars) in 2024, the Ministry of Commerce said Friday.

    China’s wholesale and retail industries have made steady progress driven by various policies, providing strong support for expanding domestic demand and forging a new development paradigm, Vice Commerce Minister Sheng Qiuping told a press conference.

    Sheng said that the added value of the wholesale and retail industries reached 13.8 trillion yuan in 2024, accounting for 10.2 percent of the GDP and playing a vital role in smoothing circulation, creating jobs and reducing logistics costs.

    The ministry will work with relevant departments to further enrich supporting policies, implement detailed measures and accelerate the promotion of high-quality development of wholesale and retail industries, so as to further smooth the circulation of the national economy, Sheng added.

    MIL OSI China News

  • MIL-OSI USA: Relief Still Available to Kansas Small Businesses and Private  Nonprofits Hit by Spring Drought:   Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Kansas of the deadlines to apply for low interest federal disaster loans to offset economic losses caused by the drought that occurred in the counties listed below.

    Declaration Number

    Primary
    Counties

    Neighboring
    Counties

    Incident
    Type

    Incident Date

    Deadline

    20423 Meade and Sedgwick Butler, Clark, Cowley, Ford, Gray, Harvey, Haskell, Kingman, Reno, Seward and Sumner in Kansas;
    Beaver in Oklahoma
    Drought April 23, 2024, and continuing 02/24/25
    20425 Haskell and Seward Finney, Grant, Gray, Kearny, Meade and Stevens in Kansas;
    Texas and Beaver in Oklahoma
    Drought April 30, 2024, and continuing 02/26/25

    Under these declarations, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses as a direct result of the drought. The SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are available for working capital needs caused by the drought and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters hit rural communities, access to working capital offers a lifeline to impacted small businesses and private nonprofits,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “SBA’s EIDL program is designed to help keep businesses operational during recovery, covering financial obligations and necessary expenses until normal operations resume.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    For KS 20423 submit completed loan applications to the SBA no later than Feb. 24. For  KS 20425 submit completed loan applications to the SBA no later than Feb. 26.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI USA: Relief Still Available to Texas Small Businesses and Private Nonprofits Hit by Spring Drought: Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Texas of the Feb. 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began April 23, 2024.

    The disaster declaration covers the counties of Brewster, Crane, Crockett, Dimmit, Frio, Irion, Jeff Davis, La Salle, Maverick, Pecos, Reagan, Reeves, Schleicher, Sutton, Terrell, Upton, Val Verde, Ward, Webb and Zavala.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the drought and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters hit rural communities, access to working capital offers a lifeline to impacted small businesses and private nonprofits,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “SBA’s EIDL program is designed to help keep businesses operational during recovery, covering financial obligations and necessary expenses until normal operations resume.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    Submit completed loan applications to the SBA no later than Feb. 24.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI USA: Relief Still Available to Oklahoma Small Businesses and Private Nonprofits Hit by Spring Drought: Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Oklahoma of the Feb. 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began April 30, 2024.

    The disaster declaration covers the counties of Beaver, Ellis, Harper, and Texas in Oklahoma, as well as Clark, Meade and Seward counties in Kansas, and Lipscomb and Ochiltree counties in Texas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the drought and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters hit rural communities, access to working capital offers a lifeline to impacted small businesses and private nonprofits,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “SBA’s EIDL program is designed to help keep businesses operational during recovery, covering financial obligations and necessary expenses until normal operations resume.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    Submit completed loan applications to the SBA no later than Feb. 24.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI: Purpose Investments Inc. Announces Final Annual 2024 Capital Gains Distributions for Purpose Fund Corp.

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce the final annual 2024 capital gain distributions for Purpose Fund Corp. The distributions represent capital gains realized by Purpose Fund Corp. during the year.

    Shareholders of record at the close of business on January 30, 2025, will receive the 2024 annual capital gains distribution on February 5, 2025, and such gains will be applicable for the 2025 tax year. The final year-end capital gain distribution for Purpose Fund Corp. will be paid in cash.

    Details of the per-unit distribution amounts are as follows:

    Fund Name Ticker
    Symbol
    Exchange Final Annual
    Capital Gains
    Distribution
    Per Share
    NAV Per
    Share (as of
    Jan 23, 2025)
    Final Distribution
    (% of Jan 23,
    2025 NAV)
    Purpose Core Dividend Fund – ETF
    Series
    PDF TSX $0.1800 $33.85 0.53%
    Purpose Tactical Hedged Equity Fund
    – ETF Series
    PHE TSX $0.0800 $36.72 0.22%
    Purpose Tactical Hedged Equity Fund
    – Non-Currency Hedged – ETF Series
    PHE.B TSX $0.6700 $42.83 1.56%
    Purpose Diversified Real Asset Fund
    – ETF Series
    PRA TSX $0.2100 $30.15 0.70%
    Purpose Best Ideas Fund – ETF
    Series
    PBI TSX $1.5700 $48.09 3.26%
    Purpose Best Ideas Fund – Non-
    Currency Hedged – ETF Series
    PBI.B TSX $2.5700 $64.21 4.00%
    Purpose International Tactical
    Hedged Equity Fund – ETF Series
    PHW TSX $0.3500 $19.73 1.77%
    Purpose Canadian Financial Income
    Fund – ETF Series
    BNC TSX $1.2000 $29.24 4.10%
    Purpose Enhanced Dividend Fund –
    ETF Series
    PDIV TSX $0.0150 $9.46 0.16%
    Purpose Core Equity Income Fund –
    ETF Series
    RDE Cboe
    Canada
    $0.1600 $27.40 0.58%
    Purpose Tactical Asset Allocation
    Fund – ETF Series
    RTA Cboe
    Canada
    $0.9500 $31.31 3.03%
    Purpose Tactical Thematic Fund –
    ETF Series
    RTT Cboe
    Canada
    $0.7000 $24.81 2.82%

    Purpose confirms that Big Banc Split Corp. will not declare a 2024 annual capital gain distribution.

    About Purpose Investments Inc.

    Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

    For further information, please contact:
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees, and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated.

    The MIL Network

  • MIL-OSI China: China unveils first guidelines on NEV insurance

    Source: China State Council Information Office 2

    China on Friday unveiled its first-ever guidelines for the insurance of new-energy vehicles (NEVs), introducing measures aimed at addressing key challenges currently facing the sector.
    NEV owners have long struggled with high insurance premiums and the risk of being denied coverage. At the same time, insurers have been burdened by financial losses due to the high repair costs of NEVs.
    The guidelines, jointly issued by the National Financial Regulatory Administration and three other government organs, aim to reduce maintenance costs for NEVs. They also emphasize the need for exploring the establishment of a risk-classification system for insurance models.
    In support of these efforts, the Insurance Association of China and the Shanghai Insurance Exchange announced on Friday that an insurance platform dedicated to the NEV sector will be launched on Saturday.
    The platform is designed to ensure proper insurance coverage for NEVs, particularly for high-risk vehicles. Insurers participating in the platform will be prohibited from denying coverage.
    China’s NEV sector has seen rapid development in recent years. By the end of 2024, the number of NEVs in use in China had reached 31.4 million, a 260-fold surge over the past decade, official data shows.

    MIL OSI China News

  • MIL-OSI China: China, Netherlands pledge to build open world economy, strengthen green development cooperation

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

    China, Netherlands pledge to build open world economy, strengthen green development cooperation

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch King Willem-Alexander in The Hague, the Netherlands, Jan. 22, 2025. Ding visited the Netherlands from Jan. 22 to Jan. 23 at the invitation of the government of the Netherlands. [Photo/Xinhua]

    THE HAGUE, Jan. 24 — Chinese Vice Premier Ding Xuexiang met with Dutch leaders on Wednesday and Thursday in The Hague. The two sides agreed to jointly promote an open world economy, and strengthen cooperation in various fields including green development.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, met separately with Dutch King Willem-Alexander, Prime Minister Dick Schoof, and Deputy Prime Minister and Minister of Climate and Green Growth Sophie Hermans during his two-day visit.

    Ding said that under the strategic guidance of the two countries’ leaders, the open and pragmatic partnership for comprehensive cooperation between China and the Netherlands has been steadily enhanced with fruitful cooperation in various fields, bringing benefits to the two countries and two peoples.

    China is willing to further strengthen communication with the Netherlands to enhance mutual trust, push for greater development of bilateral relations and help the two countries accelerate the realization of their respective development goals, he said.

    Stressing that both China and the Netherlands are beneficiaries and supporters of an open world economy, Ding said China is committed to high-quality development through high-standard opening-up, welcoming Dutch companies to expand cooperation with China.

    It is also hoped that the Dutch side will continue to provide a fair, equitable and non-discriminatory business environment for Chinese companies, safeguard common interests and maintain a stable and unimpeded global industrial and supply chains, and realize the two sides’ complementary advantages, shared opportunities and common development, Ding said.

    This year marks the 50th anniversary of the establishment of diplomatic ties between China and the European Union (EU). The vice premier said China is willing to strengthen dialogue and deepen cooperation with the EU to promote the sound and stable development of the China-EU relations, and hopes the Netherlands will play a constructive role in this regard.

    King Willem-Alexander said that the Dutch side cherishes mutual trust and friendship and is willing to deepen cooperation with China to jointly push for continuous progress in the Netherlands-China relations.

    In the face of the current geopolitical conflicts, countries should communicate frankly, seek consensus, work together and jointly address global challenges, the King added.

    Schoof said the Dutch side admires China’s development achievements and regards China as a stable partner, adding that the Netherlands is willing to strengthen dialogue with China, enhance understanding and mutual trust, and expand practical cooperation in various fields such as water conservancy, green development, and medical and health care.

    Schoof also noted that the Netherlands is ready to work with China to safeguard free trade and promote openness and cooperation.

    Hermans congratulated China on its achievements in environmental protection and green development, and appreciated China’s contributions to the implementation of the Paris Agreement.

    The Dutch side is looking forward to promoting cooperation with China in areas such as clean energy, green transition, circular economy, and climate adaptation, Hermans said.

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch Prime Minister Dick Schoof in The Hague, the Netherlands, Jan. 23, 2025. [Photo/Xinhua]
    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch Deputy Prime Minister and Minister of Climate and Green Growth Sophie Hermans in The Hague, the Netherlands, Jan. 23, 2025. Ding visited the Netherlands from Jan. 22 to Jan. 23 at the invitation of the government of the Netherlands. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: Winter tourism boosts ‘ice and snow economy’ in China’s Hubei

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

    MIL OSI China News

  • MIL-OSI Submissions: Economic Forums – Saudi Arabia to Host Regular World Economic Forum Global Meeting

    Source: AETOSWire ( https://www.aetoswire.com/en/news/2401202544185 )

    DAVOS, Switzerland – Saudi Ministry of Economy and Planning – The Kingdom of Saudi Arabia will host a regular high-level World Economic Forum (WEF) global meeting in Riyadh, with the first slated for the Spring of 2026, it was announced today.

    The announcement was made today by His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, and Børge Brende, World Economic Forum President, on the final day of the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland.

    The global WEF meeting in Riyadh will serve as a vital platform for global leaders, experts, policy- and decision-makers from diverse fields including the public and private sectors, academia, international organizations, and civil society to convene and address the challenges defining our world.

    His Excellency Faisal F. Alibrahim, Minister of Economy and Planning for Saudi Arabia, commented on the announcement: “Hosting a regular global World Economic Forum meeting in the Kingdom is a testament to the global platform for dialogue, collaboration and innovation the Saudi Arabia has become, and that the World Economic Forum continues to be. This meeting represents a significant opportunity to further unite the world in capturing the immense potential that lies ahead.

    “In this critical juncture for the global economy, we’re not only inspired by the opportunities before us, but also deeply confident that our collective efforts will forge a brighter, more inclusive and more prosperous future for all. We look forward to welcoming the global community again in Saudi Arabia in the spring of 2026.”

    President and CEO of the World Economic Forum, Børge Brende, said: “The World Economic Forum is looking forward to coming back to the Kingdom in 2026. To close the 55th World Economic Forum with this announcement puts us on a strong course for the years ahead. Years that will have immense consequence. Because the progress we make over the coming months will not only deliver results in the near term, but will shape our course for years to come.”

    Building on the success of the World Economic Forum Special Meeting held in Riyadh in April 2024, this new development solidifies Saudi Arabia’s position as a central player in shaping the global agenda. The Kingdom’s bold leadership and determination to foster global dialogues between developed and developing economies and drive inclusive global growth make it an ideal host to address complex global challenges with the WEF community.

    The World Economic Forum Global Meeting in Riyadh is set to become a cornerstone event in the global calendar, reflecting the Kingdom’s position as a key bridge between the north and south, east and west, and a beacon for constructive dialogue and action.

    MIL OSI – Submitted News

  • MIL-OSI USA: Relief Still Available to Nebraska Private Nonprofits Hit by April Storm: Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding private nonprofit (PNP) organizations in Nebraska of the Feb. 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe winter storm and straight-line winds that occurred April 6–7, 2024.

    The disaster declaration covers the counties of Banner, Cheyenne, Dawes, Garden, Kimball, Morrill, Scotts Bluff and Sioux.

    Under the declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs that provide non-critical services of a governmental nature and suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters hit rural communities, access to working capital offers a lifeline to impacted small businesses and private nonprofits,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “SBA’s EIDL program is designed to help keep businesses operational during recovery, covering financial obligations and necessary expenses until normal operations resume.”

    The loan amount can be up to $2 million with interest rates as low as 3.25%, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    Submit completed loan applications to the SBA no later than Feb. 24.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI USA: Relief Still Available to Iowa Small Businesses and Private Nonprofits Hit by May Storms: Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP)organizations in Iowa of the Feb. 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, tornadoes and flooding that occurred May 20-31, 2024.

    The disaster declaration covers the counties of Adair, Adams, Audubon, Boone, Cass, Cedar, Clinton, Dallas, Fremont, Guthrie, Hamilton, Hardin, Jasper, Johnson, Jones, Linn, Madison, Mahaska, Marion, Marshall, Mills, Montgomery, Muscatine, Page, Polk, Pottawattamie, Poweshiek, Ringgold, Scott, Story, Tama, Taylor, Union and Warren.

    Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters strike, businesses and nonprofits face significant challenges,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “These SBA loans provide the financial support they need to manage costs and continue moving forward.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    Submit completed loan applications to the SBA no later than Feb. 24.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI USA: Relief Still Available to Texas Private Nonprofits Hit by Spring Storms: Don’t Miss the Deadline to Apply for an SBA Disaster Loan!

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding private nonprofit (PNP) organizations in Texas of the Feb. 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight‑line winds, tornadoes and flooding that occurred April 26–June 5, 2024.

    The disaster declaration covers the counties of Anderson, Austin, Bailey, Baylor, Bell, Blanco, Bosque, Bowie, Brown, Caldwell, Calhoun, Cass, Cherokee, Clay, Cochran, Coke, Coleman, Concho, Cooke, Coryell, Dallas, Delta, Eastland, Falls, Fannin, Freestone, Gonzales, Grimes, Hamilton, Hardin, Harris, Hays, Henderson, Hockley, Hopkins, Houston, Jasper, Kaufman, Lamar, Lampasas, Lee, Leon, Liberty, Limestone, Lynn, Madison, McCulloch, Milam, Mills, Montgomery, Morris, Nacogdoches, Navarro, Newton, Panola, Polk, Rains, Red River, Robertson, Rockwall, Rusk, Sabine, San Augustine, San Jacinto, San Saba, Shelby, Smith, Sterling, Terrell, Titus, Trinity, Tyler, Van Zandt, Walker, Waller and Washington.

    Under the declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs that provide non-critical services of a governmental nature and suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    “When disasters hit rural communities, access to working capital offers a lifeline to impacted small businesses and private nonprofits,” said Randle Logan, acting associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “SBA’s EIDL program is designed to help keep businesses operational during recovery, covering financial obligations and necessary expenses until normal operations resume.”

    The loan amount can be up to $2 million with interest rates as low as 3.25%, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    Submit completed loan applications to the SBA no later than Feb. 24.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI: Oak Valley Bancorp Reports 4th Quarter Results and Announces Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    OAKDALE, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) — Oak Valley Bancorp (NASDAQ: OVLY) (the “Company”), the bank holding company for Oak Valley Community Bank and their Eastern Sierra Community Bank division, recently reported unaudited consolidated financial results. For the three months ended December 31, 2024, consolidated net income was $6,008,000 or $0.73 per diluted share (EPS), as compared to $7,324,000, or $0.89 EPS, for the prior quarter and $5,865,000, or $0.71 EPS for the same period a year ago. Consolidated net income for the year ended December 31, 2024, totaled $24,948,000, or $3.02 EPS, representing a decrease of 19.1% compared to $30,848,000, or $3.75 EPS for 2023. The decrease in QTD earnings compared to the prior quarter is related to loan recoveries which resulted in the reversal of credit loss provision of $1,620,000 recorded during the third quarter of 2024. The increase over the same period a year ago is related to a credit loss provision of $1,130,000 recorded during the fourth quarter of 2023, corresponding to macro-economic conditions and loan growth of $100.8 million during the fourth quarter of 2023. Despite the positive variance related to the reversal of credit loss provisions, 2024 YTD earnings decreased compared to 2023 due to an increase in deposit interest expense and general operating expenses.       

    “We are pleased to report another solid year of earnings and commend our team on their commitment to a culture of relationship banking built on a foundation of sound credit quality standards,” stated Chris Courtney, Chief Executive Officer.

    Net interest income was $17,846,000 and $70,034,000 for the fourth quarter and year ended December 31, 2024, respectively, compared to $17,655,000 during the prior quarter, $17,914,000 for the fourth quarter of 2023, and $75,802,000 for the year ended December 31, 2023. The QTD increase compared to prior quarter is due to an increase of $39.6 million in average earning assets. The QTD and YTD decreases compared to 2023 is due to an increase in deposit interest expense. The average cost of funds increased to 0.78% in 2024, compared to 0.28% in 2023. The higher interest expense was partially offset by loan growth of $90.0 million, or 8.8%, year-over-year.

    Net interest margin was 4.00% and 4.07% (non-GAAP measure, see financial table footnote 1 below) for the fourth quarter and year ended December 31, 2024, respectively, as compared to 4.04% for the prior quarter, 4.15% for the fourth quarter of 2023, and 4.33% for the year ended December 31, 2023. The interest margin decrease compared to prior periods is the result of increased deposit interest expense as described above.

    Non-interest income for the fourth quarter and year ended December 31, 2024, totaled $1,430,000 and $6,555,000, respectively, compared to $1,846,000 during the prior quarter, $1,755,000 for the fourth quarter of 2023, and $6,631,000 for the year ended December 31, 2023. The QTD and YTD decreases from prior periods was primarily due to unrealized market value changes on equity securities.

    Non-interest expense for the fourth quarter and year ended December 31, 2024, totaled $11,548,000 and $46,017,000, respectively, compared to $11,324,000 during the prior quarter, $10,760,000 for the fourth quarter of 2023 and $41,157,000 for the year ended December 31, 2023. The fourth quarter increases are related to audit, data processing, and consulting among other general operating expense increases. The year-to-date increase compared to 2023 corresponds to staffing expense and general operating costs, including advertising, audit and software licensing, related to servicing the loan and deposit portfolios.

    Total assets were $1.90 billion at December 31, 2024, essentially flat compared to September 30, 2024, and an increase of $58.2 million over December 31, 2023. Gross loans were $1.11 billion as of December 31, 2024, an increase of $31.4 million from September 30, 2024, and $90.0 million from December 31, 2023. The Company’s total deposits were $1.70 billion as of December 31, 2024, an increase of $5.4 million from September 30, 2024, and $45.2 million from December 31, 2023. Our liquidity position remains strong as evidenced by $168.8 million in cash and cash equivalents balances at December 31, 2024.

    Non-performing assets (“NPA”) remained at zero as of December 31, 2024, as they were for all of 2024 and 2023. The allowance for credit losses (“ACL”) as a percentage of gross loans decreased to 1.04% at December 31, 2024, compared to 1.07% at September 30, 2024 and 1.07% at December 31, 2023. The decrease was related to macro-economic conditions and other credit-related factors that resulted in a favorable output from our CECL credit risk model, combined with loan growth of $31.4 million during the quarter. Given industry concerns of credit risk specific to commercial real estate, management has performed a thorough analysis of this segment within the ACL computation, concluding that the credit loss reserves relative to gross loans remains at acceptable levels, and credit quality remains stable.

    The Board of Directors of Oak Valley Bancorp at their January 21, 2025 meeting, declared the payment of a cash dividend of $0.30 per share of common stock to its shareholders of record at the close of business on February 3, 2025. The payment date will be February 14, 2025 and will amount to approximately $2,507,000. This is the first dividend payment made by the Company in 2025.

    Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra division, which includes Bridgeport, Mammoth Lakes, and Bishop.

    For more information, call 1-866-844-7500 or visit www.ovcb.com.

    This press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

    Forward-looking statements are based on management’s knowledge and belief as of today and include information concerning the corporation’s possible or assumed future financial condition, and its results of operations and business. Forward-looking statements are subject to risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, including increased energy costs in California, credit quality of borrowers, operational factors, and competition in the geographic and business areas in which the company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.

    Contact:   Chris Courtney/Rick McCarty
    Phone:   (209) 848-2265
        www.ovcb.com
     
    Oak Valley Bancorp
    Financial Highlights (unaudited)
                 
    ($ in thousands, except per share) 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 4th Quarter
    Selected Quarterly Operating Data:   2024     2024     2024     2024     2023  
                 
      Net interest income $ 17,846   $ 17,655   $ 17,292   $ 17,241   $ 17,914  
      (Reversal of) provision for credit losses       (1,620 )           1,130  
      Non-interest income   1,430     1,846     1,760     1,519     1,755  
      Non-interest expense   11,548     11,324     11,616     11,529     10,760  
      Net income before income taxes   7,728     9,797     7,436     7,231     7,779  
      Provision for income taxes   1,720     2,473     1,547     1,504     1,914  
      Net income $ 6,008   $ 7,324   $ 5,889   $ 5,727   $ 5,865  
                 
      Earnings per common share – basic $ 0.73   $ 0.89   $ 0.72   $ 0.70   $ 0.72  
      Earnings per common share – diluted $ 0.73   $ 0.89   $ 0.71   $ 0.69   $ 0.71  
      Dividends paid per common share $   $ 0.225   $   $ 0.225   $  
      Return on average common equity   12.86 %   16.54 %   14.19 %   13.86 %   16.44 %
      Return on average assets   1.25 %   1.56 %   1.30 %   1.26 %   1.27 %
      Net interest margin (1)   4.00 %   4.04 %   4.11 %   4.09 %   4.15 %
      Efficiency ratio (2)   59.91 %   58.07 %   60.97 %   61.46 %   54.71 %
                 
    Capital – Period End          
      Book value per common share $ 21.95   $ 22.18   $ 20.55   $ 19.97   $ 20.03  
                 
    Credit Quality – Period End          
      Nonperforming assets / total assets   0.00 %   0.00 %   0.00 %   0.00 %   0.00 %
      Credit loss reserve / gross loans   1.04 %   1.07 %   1.04 %   1.05 %   1.07 %
                 
    Period End Balance Sheet          
    ($ in thousands)          
      Total assets $ 1,900,604   $ 1,900,455   $ 1,840,521   $ 1,805,739   $ 1,842,422  
      Gross loans   1,106,535     1,075,138     1,070,036     1,039,509     1,016,579  
      Nonperforming assets                    
      Allowance for credit losses   11,460     11,479     11,121     10,922     10,896  
      Deposits   1,695,690     1,690,301     1,644,748     1,612,400     1,650,534  
      Common equity   183,436     185,393     171,799     166,916     166,092  
                 
    Non-Financial Data          
      Full-time equivalent staff   223     222     223     219     222  
      Number of banking offices   18     18     18     18     18  
                 
    Common Shares outstanding          
      Period end   8,357,211     8,358,711     8,359,556     8,359,556     8,293,168  
      Period average – basic   8,224,504     8,221,475     8,219,699     8,209,617     8,200,177  
      Period average – diluted   8,278,427     8,263,790     8,248,295     8,244,648     8,236,897  
                 
    Market Ratios          
      Stock Price $ 29.25   $ 26.57   $ 24.97   $ 24.78   $ 29.95  
      Price/Earnings   10.09     7.52     8.69     8.86     10.55  
      Price/Book   1.33     1.20     1.22     1.24     1.50  
                 
    (1) This is a non-GAAP measure because its computed on a fully tax equivalent basis using a marginal federal tax rate of 21%.  
    (2) This ratio was changed to GAAP basis as of the quarter ended December 31, 2024, and all prior periods have been restated accordingly.
                 
                 
                 
        YEAR ENDED
    DECEMBER 31,
         
    Profitability   2024     2023        
    ($ in thousands, except per share)          
      Net interest income $ 70,034   $ 75,802        
      (Reversal of) provision for credit losses   (1,620 )   970        
      Non-interest income   6,555     6,631        
      Non-interest expense   46,017     41,157        
      Net income before income taxes   32,192     40,306        
      Provision for income taxes   7,244     9,458        
      Net income $ 24,948   $ 30,848        
                 
      Earnings per share – basic $ 3.04   $ 3.76        
      Earnings per share – diluted $ 3.02   $ 3.75        
      Dividends paid per share $ 0.45   $ 0.32        
      Return on average equity   14.39 %   21.87 %      
      Return on average assets   1.35 %   1.64 %      
      Net interest margin (1)   4.07 %   4.33 %      
      Efficiency ratio (2)   60.08 %   49.93 %      
                 
    Capital – Period End          
      Book value per share $ 21.95   $ 20.03        
                 
    Credit Quality – Period End          
      Nonperforming assets/ total assets   0.00 %   0.00 %      
      Credit loss reserve/ gross loans   1.04 %   1.07 %      
                 
    Period End Balance Sheet          
    ($ in thousands)          
      Total assets $ 1,900,604   $ 1,842,422        
      Gross loans   1,106,535     1,016,579        
      Nonperforming assets              
      Allowance for credit losses   11,460     10,896        
      Deposits   1,695,690     1,650,534        
      Stockholders’ equity   183,436     166,092        
                 
    Non-Financial Data          
      Full-time equivalent staff   223     222        
      Number of banking offices   18     18        
                 
    Common Shares outstanding          
      Period end   8,357,211     8,293,168        
      Period average – basic   8,218,846     8,193,874        
      Period average – diluted   8,258,857     8,230,892        
                 
    Market Ratios          
      Stock Price $ 29.25   $ 29.95        
      Price/Earnings   9.64     7.96        
      Price/Book   1.33     1.50        
                 
      (1) This is a non-GAAP measure because its computed on a fully tax equivalent basis using a marginal federal tax rate of 21%.
      (2) This ratio was changed to GAAP basis as of the year ended December 31, 2024, and the prior period has been restated accordingly.

    The MIL Network

  • MIL-OSI: Navicore Solutions to provide support to those affected by funding cuts and regulatory changes to the ACA and Medicaid anticipated under the new Trump administration

    Source: GlobeNewswire (MIL-OSI)

    MANALAPAN, N.J., Jan. 24, 2025 (GLOBE NEWSWIRE) — As changes to the Affordable Care Act (ACA) and Medicaid loom under the new Trump administration, millions of Americans could face heightened medical debt challenges. Navicore Solutions, a nonprofit credit counseling organization, stands ready to provide essential support to individuals and families struggling with medical debt and its broader financial implications.

    The Consumer Financial Protection Bureau (CFPB) reports that over 100 million Americans collectively owe $220 billion in medical debt. This staggering figure highlights the complexity of medical billing and the strain it places on households, particularly those already managing credit card debt and other financial burdens.

    Potential policy changes at the federal level could exacerbate this crisis. Key provisions, such as expanded ACA enrollment, increased Medicaid coverage, and longer enrollment periods, have contributed to historic lows in the uninsured rate and record-high Medicaid enrollment. However, proposed cuts to Medicaid funding and ACA regulatory rollbacks could reverse these gains, leaving more Americans uninsured and vulnerable to unmanageable healthcare costs.

    “Medicaid is an obvious target for huge cuts,” said Joan Alker, Executive Director of Georgetown University’s Center for Children and Families. “Such cuts could eliminate policies like multiyear continuous eligibility, forcing millions to reapply for coverage annually and increasing their risk of lapses in care and surprise medical bills.”

    For hospitals, these changes could result in a surge of uninsured patients and uncompensated care, further straining the healthcare system.

    In the face of these challenges, Navicore Solutions offers a critical lifeline to those overwhelmed by medical debt. Through personalized credit counseling and debt management programs, Navicore helps individuals navigate their financial challenges and regain control of their finances.

    “Our mission is to empower individuals to overcome financial obstacles, including the significant burden of medical debt,” said Diane Gray, Chief Operating Officer at Navicore Solutions. “We understand how quickly medical expenses can spiral, particularly when paired with reduced insurance coverage or increased out-of-pocket costs. Our team provides unbiased solutions to help individuals create sustainable financial plans and alleviate their stress.”

    Navicore’s certified counselors offer a range of services, including budgeting assistance, debt repayment strategies, and personal finance education. By addressing medical debt as part of a holistic financial strategy, Navicore helps clients build a foundation for long-term stability and success.

    As policymakers debate the future of healthcare in America, Navicore Solutions remains committed to supporting those most affected by medical debt.

    About Navicore Solutions

    Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.

    Navicore counselors provide a wide range of services including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.

    Contact:
    Lori Stratford
    Digital Marketing Manager
    Navicore Solutions
    lstratford@navicoresolutions.org
    navicoresolutions.org

    The MIL Network

  • MIL-OSI USA: Senator Markey Reintroduces Resolution to Fight Back Against President Trump’s Day-One Withdrawal of United States from Paris Climate Agreement

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Resolution Text (PDF)
    Washington (January 24, 2025) – Senator Edward J. Markey (D-Mass.), co-author of the Green New Deal resolution and member of the Environment and Public Works Committee, today introduced the We Are Still In resolution with 21 colleagues to express support for continued work on every level to achieve the goals set out in the Paris climate agreement, in response to President Donald Trump’s withdrawal of the United States from the agreement through a day-one executive order. Congressman Brad Schneider (IL-10) is leading a similar effort in the House.
    The We Are Still In resolution signals ongoing support for U.S. climate ambition by leaders in Congress, who are continuing to work with and highlight local, state, regional, Tribal, and nongovernmental climate partners. The resolution underscores significant climate and clean energy actions taken by local and state governments, critical investments made through the Bipartisan Infrastructure Law and Inflation Reduction Act, and widespread support for the Paris climate agreement garnered through the America is All In coalition. With President Trump’s withdrawal, the United States joins Iran, Yemen, and Libya as the only countries in the world not party to the Paris climate agreement.
    “Over the past four years, the United States has supercharged its international climate leadership with the passage of the Inflation Reduction Act, the largest climate and clean energy investment in history, which has already created more than 400,000 jobs and unleashed $420 billion in clean energy investments nationwide. By withdrawing from the Paris climate agreement, President Trump is attempting to sacrifice our leadership on the world stage and put our livable future at risk—all for the benefit of Big Oil billionaires,” said Senator Markey. “But our national climate agenda doesn’t live or die by President Trump’s pen, which is why I am reintroducing the We Are Still In resolution, signaling that climate action will continue to create good-paying jobs and a healthy environment regardless of our official stature within the Paris climate agreement. To our international allies: when it comes to fighting the climate crisis by your side, we still mean business.” 
    “The climate crisis unfolding before our eyes is already costing the U.S. tens of billions of dollars every year, which is why Congress has passed historic investments over the past four years to transition to a clean energy economy, slow climate change, and create good-paying jobs. Legislation such as the Bipartisan Infrastructure Law and the Inflation Reduction Act demonstrated America’s commitment and leadership to the rest of the world. President Trump’s irresponsible decision to pull out of the Paris agreement sends a shameful signal to our allies and adversaries alike, showing that the U.S. is turning its back on the health and safety of our planet. This ill-considered decision puts us at a competitive disadvantage to adversaries like China and will certainly lower global ambitions to tackle climate change with the seriousness and urgency it demands,” said Congressman Schneider.
    Cosponsors include Senators Chuck Schumer (D-N.Y.), Dick Durbin (D-Ill.), Jeff Merkley (D-Ore.), Ron Wyden (D-Ore.), Tina Smith (D-Minn.), Bernie Sanders (I-Vt.), Richard Blumenthal (D-Conn.), Chris Van Hollen (D-Md.), Peter Welch (D-Vt.), Jack Reed (D-R.I.), Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawai’i), Cory Booker (D-N.J.), Amy Klobuchar (D-Minn.), Alex Padilla (D-Calif.), Adam Schiff (D-Calif.), Chris Coons (D-Del.), Jeanne Shaheen (D-N.H.), Tim Kaine (D-Va.), Jacky Rosen (D-Nev.), and Tammy Duckworth (D-Ill.).
    The resolution is endorsed by Union of Concerned Scientists and the Natural Resources Defense Council (NRDC).
    On November 4, 2020, the first Trump administration withdrew the United States from the Paris climate agreement. The Biden administration re-entered the United States back into the agreement in January 2021. In December 2024, the Biden administration released an updated Nationally Determined Contribution under the Paris climate agreement, which established an emission-reduction target of 61 to 66 percent below 2005 levels by 2035.

    MIL OSI USA News

  • MIL-OSI United Kingdom: Edinburgh declares Scotland’s first visitor levy

    Source: Scotland – City of Edinburgh

    Councillors have formally agreed to introduce Edinburgh’s Visitor Levy scheme.

    Hailed as a ‘historic moment for Edinburgh’, the decision was taken during a special meeting of the Council held online today (Friday 24 January) .

    From 24 July 2026, a 5% fee will be applied to the cost of overnight accommodation in Edinburgh, capped at five nights in a row. Businesses will need to apply the levy to any advance bookings made as of 1 October 2025 for stays on or after 24 July 2026.

    The levy is projected to raise up to £50 million a year once established, for the city to invest in protecting, supporting and enhancing Edinburgh’s worldwide appeal as a place to live and visit.

    The final proposals for the scheme have been updated to provide accommodation providers and booking agencies with extra time to prepare systems for advance bookings ahead of next summer’s launch.

    Responding to today’s decision, Council Leader Jane Meagher said:

    What an historic moment for Edinburgh. Introducing this ground-breaking visitor levy means realising a once in a lifetime opportunity to invest tens of millions of pounds towards enhancing and sustaining the things that make our city such a great place to visit – and live in – all year round.

    The scheme has been many years in the making and I’m grateful to Council officers, businesses and residents who have helped shape it, every step of the way. Its introduction is declared today with a huge amount of backing, not least from local residents.

    At all stages we’ve listened to and taken account of the views of industry and other stakeholders. It’s in this spirit that we’ve also extended the amount of time hoteliers and small businesses will have to prepare for the changes that are coming in.

    It’s vital that we continue to work closely as we get ready to launch this scheme and deliver the many benefits it is going to bring. We’ve always said this is a city fund and spending decisions need to be taken with a whole city mindset, and we’ll soon be establishing a Visitor Levy Forum with an independent Chair. We’ll also be reporting next steps to executive Council committees.”

    Neil Ellis, Chair of the Edinburgh Hotels Association, said:

    Edinburgh Hotels Association welcomes the introduction of the visitor levy for its intended use of improving the experience of all visitors – local, national or international – through additional spending. This is a fantastic opportunity to further enhance Edinburgh’s reputation on the World stage as a must visit destination.”

    Donald Emslie, a representative of Edinburgh’s tourism industry, said:

    This new income stream presents a unique opportunity to generate significant funds for the city’s long-term development. The levy’s potential to generate transformative funds for the benefit of all who live, work, and visit Edinburgh is well recognised and I’m pleased to see a decision made to declare a scheme which will not only support spending on city operations and infrastructure, but sustain Edinburgh’s cultural offering and destination and visitor management.”

    The agreed Visitor Levy for Edinburgh scheme:

    Scheme Objectives

    The overarching aim of the Scheme is to sustain Edinburgh’s status as one of the world’s greatest cultural and heritage cities and to ensure that the impacts of a successful visitor economy are managed effectively and in support of the priorities as set out in the Council’s Business Plan (or equivalent).

    The objectives of the Scheme are therefore to Sustain, Support and Develop:

    1. Public services, programmes and infrastructure that provide an enjoyable and safe visitor and resident experience.
    2. Edinburgh’s culture, heritage and events provision to ensure it remains world-leading and competitively attractive to visitors as well as residents.
    3. The city’s visitor economy, by fostering innovation in response to environmental and societal challenges, enhancing Edinburgh’s global reputation while promoting responsible and sustainable tourism.

    Scheme area, start date and duration

    The Scheme covers the entirety of the City of Edinburgh Council boundaries and will apply to overnight stays from 24 July 2026, booked and paid for (in part or full) on or after 1 October 2025. It will apply indefinitely, or until the Council decides to end or amend it, and at all times of the year.

    The levy rate

    The levy rate will be 5%, payable for a maximum of five consecutive nights and will apply at the same level, year-round, across the entire City of Edinburgh Council boundary area.

    Accommodation liable for the levy

    The levy will apply to all overnight accommodation, including those with an annual turnover below the applicable VAT threshold, based within the City of Edinburgh Council boundary.

    This includes:

    • Hotels;
    • Hostels;
    • Guest houses;
    • Bed and breakfast accommodation;
    • Self-catering accommodation, including short-term lets;
    • All paid accommodation on caravan sites and campsites, including temporary tent and campervan pitches;
    • Accommodation in a vehicle, or on board a vessel, which is permanently or predominantly situated in one place; and
    • Any other place at which a room or area is offered by the occupier for residential purposes otherwise than as a visitor’s only or usual place of residence.

    Certain accommodation providers may apply to the Council for a discretionary site exemption if they meet both of the following criteria:

    • The property is occupied by a charity or trustee of a charity; and
    • Overnight stays must be wholly or mainly for charitable purposes.

    This discretionary exemption is aligned with the cases where charities may receive mandatory relief from paying Non-Domestic Rates and may be cross-checked with that register.

    Accommodation providers who do not charge for overnight accommodation, or who cater fully for individuals who are exempted from paying the levy are not liable for the levy.

    Individuals exempted or excluded from paying the levy

    The Visitor Levy is payable by anyone staying in accommodation which is not their only or usual place of residence (temporary or otherwise). Individuals who do not have an only or usual place of residence are therefore not required to pay the levy. This includes people who are homeless, refugees and asylum seekers and people whose homes are unfit or unsafe for habitation. In addition, individuals defined in s. 14 (1) of the Act are exempt from paying the levy.

    Individuals who are exempt or excluded will need to pay the levy to the accommodation provider and request reimbursement from the Council, unless their accommodation has been arranged and paid for directly via the Council. Reimbursement can be applied for online, submitting relevant evidence (as detailed below and on the Council’s website) and bank details (to enable payment via BACS). Alternative provision can be made for those who do not have internet access.

    Evidence which will be required to be submitted includes:

    • The name of person exempted/excluded;
    • If exclusion applies, verification of such status from relevant official body (this can include the Council’s Homelessness service, Social services, relevant third sector provider, Police Scotland etc);
    • If exemption applies, a copy (scan/photo) of the relevant benefit award letter or similar document;
    • Booking confirmation/accommodation invoice – the name of the person exempted/excluded should be included on this document; and
    • Proof of payment for overnight accommodation.

    The Council will assess the evidence received and pay the reimbursement via bank transfer within 5 working days if the applicant is found to be eligible.

    Collecting and enforcing the levy

    Accommodation providers within the local authority area will be liable for the levy. They will be required to submit quarterly reports, detailing the total accommodation charges and the total levy collected to a national online visitor levy portal. The levy will be payable at the same time as submitting returns.

    Accommodation providers are required to keep accurate records of all transactions that are subject to the levy. The Council will conduct inspections, as required, to ensure compliance with the scheme and remittance requirements.

    Accommodation providers who fail to comply may be subject to penalties.

    Appeals relating to decisions made by the Council on the operation and/or enforcement of the scheme can be registered following the Visitor Levy appeal process detailed on the Council’s website. The Council will aim to review and process such appeals within 28 calendar days.

    Use of net proceeds

    The Act stipulates that the net proceeds of a visitor levy must be spent on facilitating the achievement of the scheme’s objectives and on “developing, supporting and sustaining facilities and services which are substantially for or used by persons visiting [overnight] for leisure or business purposes (or both)”.

    After administration costs, which includes the establishing and maintenance of a contingency fund, a fixed amount will be assigned to:

    • Housing and tourism mitigation (£5m p.a.);
    • Participatory budgeting (£2m over 3 years) with appropriate audit checks in place to ensure that these funds are spent on facilitating the achievement of the scheme’s objectives; and
    • Reimbursement of 2% of remitted funds to Accommodation Providers, to off-set the administrative cost incurred from operating in accordance with the Scheme and collecting visitor data

    The remaining funds will then be split into the following investment streams:

    • City Operations and Infrastructure (55%);
    • Culture, Heritage and Events (35%); and
    • Destination and Visitor Management (10%).

    The Council will make decisions on the use of funds after consultation with the Visitor Levy Forum (see details below), with these decisions delegated to the relevant executive Committees.

    Reviewing and changing the scheme

    The Council will review the scheme every three years to assess whether it is successfully achieving its objectives and to measure the impact of the scheme on businesses, visitors and communities. The review will be published along with a report detailing how the income has been spent and the benefits which the VL-funded projects have brought.

    If the Council wishes to make changes to the scheme following the review, it will publicly consult on the change and publish a report detailing the decision and its justification. Significant changes to the scheme will require an 18-month implementation period.

    Significant changes to the scheme include:

    • Increasing the scheme area;
    • Increasing the percentage rate; and/or
    • Removing any exemptions

    Visitor Levy Forum

    A Visitor Levy Forum will be established to discuss and advise on the VL scheme, including the review of the scheme and any modifications to the scheme. The Forum will also be consulted on how the VL funds will be spent.

    The Forum will be made up of an equal number of representatives from the community and from businesses in the city’s visitor economy and at least 40% of the representatives must be women. Council officers responsible for the investment streams and officers from the Council’s Programme Management Office will be in attendance at Forum meetings and may make recommendations to the Forum but will not be members of the Forum itself.

    The Council will report publicly and to the Scottish Government on

    • the amount we collect
    • how we use the net proceeds, (the amount collected minus costs or expenses of operating the scheme)
    • how we demonstrate that we are delivering the objectives of the Scheme.

    MIL OSI United Kingdom

  • MIL-OSI Canada: Alberta tourism shines on the national stage

    The eyes of the nation are once again on Alberta as the province’s tourism sector garners recognition for its industry-leading innovation and dedication to excellence. Several Albertans and Albertan businesses were nominated and won Canadian Tourism Awards for outstanding success, innovation and leadership in Canada’s tourism industry.

    The accolades highlight Alberta as a top-tier tourism destination and recognize the outstanding Albertans that elevate the province’s reputation nationally and internationally. As an advocate for Canada’s tourism sector, the Tourism Industry Association of Canada presents the Canadian Tourism Awards annually.

    “We are incredibly proud of the achievements of Alberta’s tourism operators, whose passion and innovation continue to set new standards of excellence. The individuals and businesses nominated reflect the rich variety of experiences that make Alberta unique. Their dedication and innovation are at the heart of our thriving tourism sector, and their recognition on the national stage reflects the world-class experiences Alberta offers visitors each day.”

    Joseph Schow, Minister of Tourism and Sport

    The following Alberta-based organizations and individuals received Canadian Tourism Awards:

    • Business of the Year Award: CanaDream RV, Rocky View County
    • Business Event of the Year Award: National Gathering of Elders, Edmonton
    • Culinary Tourism Experience Award: Bar OA Farms, Strathcona County
    • Lifetime Achievement Award: Cindy Ady, former CEO of Tourism Calgary and former Minister of Tourism, Parks and Recreation
    • Under-30 Tourism Trailblazer Award: Sierra Murray, Leduc County

    Notably, former Tourism Calgary CEO and former Alberta Minister of Tourism, Parks and Recreation, Cindy Ady received a lifetime achievement award for her commitment to Alberta’s tourism sector. As CEO of Tourism Calgary, Cindy positioned Calgary as a year-round, globally competitive destination, and as Alberta’s Minister of Tourism, Parks and Recreation, Cindy sponsored the Travel Alberta Act, establishing Travel Alberta as a provincial agency in 2009.

    “Alberta’s tourism community is remarkable, and I am grateful to have had the opportunity to contribute to its success. I am truly humbled to have received this Lifetime Achievement Award, but it’s not just about me – it’s a testament to the hard work and vision of an entire community, one that has come together to position this province as a leader in the global tourism landscape.”

    Cindy Ady, former CEO of Tourism Calgary and former Minister of Tourism, Parks and Recreation

    In addition, Travel Alberta received recognition for its film Sky Painter, which won gold in Brand Building at the 2024 Canadian Marketing Awards and second place in the Tourism Products category at the World Tourism Film Awards. The Travel Alberta film To be Albertan won first place in the Region Promotion category at the World Tourism Film Awards. 

    In the past year, Alberta has received global recognition with a nomination for the Most Desirable Region (Rest of the World) category in the Wanderlust Reader Travel Awards 2024, and Skift IDEA awards in industry innovation and travel technology. In addition, Travel Alberta films won awards at the Japan’s World Tourism Festival and in the Cannes Corporate Media and TV Awards.

    These achievements build on Alberta’s rich tradition of tourism excellence and highlight the significant contributions of the industry to the province’s economy. Alberta’s government remains committed to supporting its tourism operators as they continue to shape the future of Canadian tourism.

    Quick facts

    • The following Alberta organizations, events and individuals received nominations for the Canadian Tourism Awards:
      • Culinary Tourism Experience Award: Bar OA Farms, Strathcona County
      • Indigenous Tourism Award: Dragonfly Spirit CreeAtions Ltd, Spruce Grove
      • Indigenous Tourism Award: Métis Crossing, Smoky Lake
      • Innovator of the Year Award: Rural Rivers, Sturgeon County
      • Tourism Employer of the Year Award: Indigenous Box, Leduc County

    Related information

    • The Canadian Tourism Awards 2024
    • World Tourism Film Awards 2024
    • Canadian Marketing Association Awards 2024

    Multimedia

    • “To Be Albertan” video entry by Travel Alberta
    • “Sky Painter” video entry by Travel Alberta

    Related news

    • Global recognition for Alberta’s tourism sector (Sept. 27, 2024)
    • Alberta’s tourism soars to new heights (Sept. 25, 2024)
    • Alberta films captivate the world (March 18, 2024)
    • Growing Alberta’s visitor economy (Feb. 14, 2024)

    MIL OSI Canada News

  • MIL-OSI: Brompton Funds Special Year End Distribution Update

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — (TSX: KNGC, KNGU, KNGX) – On December 13, 2024, Brompton Funds announced special year end estimated distributions for Brompton Canadian Cash Flow Kings ETF, Brompton U.S. Cash Flow Kings ETF and Brompton International Cash Flow Kings ETF (the “ETFs”). The actual unit distribution amounts were as follows:

      Ticker Amount
    Per Unit
    Brompton Canadian Cash Flow Kings ETF KNGC Cdn$0.73150
    Brompton U.S. Cash Flow Kings ETF KNGU Cdn$0.42257
    Brompton International Cash Flow Kings ETF KNGX Cdn$0.09671
         

    Immediately following the issuance, the units of the ETFs were automatically consolidated and as a result, unitholders hold the same number of units after the distribution as they did before. The adjusted cost base of a unitholder’s units increased by the amount of the distribution reinvested in units as of December 31, 2024.

    About Brompton Funds
    Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at http://www.bromptongroup.com.

    Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments.  Please read the prospectus before investing.  Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

    Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the ETFs, to the future outlook of the ETFs and anticipated events or results and may include statements regarding the future financial performance of the ETFs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI USA: In Senate Floor Speech, Murray Lays Out Case Against Controversial DoD Nominee Pete Hegseth, Slams Him for Refusal to Meet Prior to Confirmation Vote

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    ICYMI: Murray, Duckworth Lead Senators in Introducing Resolution Recognizing the Service of Women in Combat
    ICYMI: Senator Murray Statement on Pete Hegseth Canceling Meeting with Her, Refusal to Meet Ahead of Probable Confirmation Vote
    Murray: “Our military uniforms do not say Democrat. They do not say Republican. They just don’t. You cannot be an effective commander if your people don’t trust you. But how are troops supposed to trust you to keep them safe in combat if you think half the nation is the enemy?”
    ***VIDEO of Senator Murray’s floor speech HERE***
    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, took to the Senate floor to lay out her strong opposition to Pete Hegseth’s nomination to lead the Secretary of the U.S. Department of Defense (DoD). Murray articulated the many grave concerns she has with Mr. Hegseth’s qualifications, positions, and his character—and slammed him for refusing to meet with her before his confirmation vote.
    On Saturday, Murray called out Hegseth for refusing to meet with her until after his confirmation vote, and today on the Senate floor, she reiterated that every nominee should be willing to meet with senators to answer basic questions about how they would approach their role if confirmed, calling it: “beneath the dignity of the role he aspires to for Mr. Hegseth to refuse to meet one-on-one with most Democrats.”
    “I mean, if Mr. Hegseth is afraid of me, how is he going to stand up to China? Meeting with members on both sides isn’t just some formality—if you are confirmed, it is part of the job,” Murray said.
    “Let’s be perfectly clear about the stakes here—we are talking about who we will put in command of the most powerful military in the world. There is nothing on Mr. Hegseth’s resume that remotely suggests he has the experience for the role,” Murray continued. “I have a deep appreciation for his service to our country—I do. But let’s not kid ourselves here. I don’t see how being a Fox TV host prepares you to lead three million servicemembers and civilians. I don’t see how bankrupting a veterans’ nonprofit through wasteful spending qualifies you to manage a budget of nearly $900 billion dollars. Moreover, we really truly have no sense of what his understanding of military policy is or what his strategic priorities would be.”
    Murray pointed out that, because senators had had to spend so much time at Mr. Hegseth’s confirmation hearing asking him basic questions about his questionable character and fitness—questions Republicans refused to ask—they had little time to ask him about how he would do his job.
    “How does he plan to reduce costs and development times for key military capabilities that are critical to our national security? How would he invest in our defense industrial base and public shipyards, like the one in my home state in Washington? How does he view the pacing threat in the Indo-Pacific and how would he work with our partners and allies to prepare for a potential conflict? Does he have any thoughts on that at all?,” Murray asked. “This is just not a serious candidate who has thoughtful positions on the challenges we face.”
    “You know what position he is serious about? What he has stated over and over again? ‘I’m straight up just saying we should not have women in combat roles.’ He said that last November,” Murray said on the Senate floor. “He has also made clear he has little regard for the Geneva Conventions. Now maybe this is a bit old fashioned of me, but I think we should have a Secretary of Defense who is firmly against war crimes. Not one who has spoken in favor of torture like water boarding, in favor of people convicted of war crimes, and questioned whether we should follow the Geneva Conventions.”
    “And let’s not forget—in addition to having no real qualifications, and many alarming positions, Mr. Hegseth also has many red flags that raise serious concerns about his character and conduct… There is no world where we should have a predator running the Department of Defense that is responsible for the wellbeing of millions of women and men in uniform.”
    Murray concluded by saying, there is no world where the person in charge of the U.S. military should see his fellow Americans as the enemy. In Hegseth’s book American Crusade, published in 2020, Hegseth wrote: “The other side, the left, is not our friend. We are not esteemed colleagues, nor mere political opponents. We are foes. Either we win or they win. We agree on nothing else.”“How are troops supposed to trust you to keep them safe in combat if you think half the nation is the enemy? How are Muslim servicemembers supposed to trust you if you think their religion is a threat to the country? How are women servicemembers supposed to trust you if you think they should be at home?,” Murray asked on the Senate floor.
    “I don’t have an answer to that. Maybe Mr. Hegseth doesn’t either—maybe that is why he won’t meet with me. And then again, maybe it’s because he thinks I’m his foe because I’m a Democrat, or maybe he doesn’t think I should have a say in the military issues because I’m a woman. But I do have a say—and I say someone like Mr. Hegseth is grossly unqualified to take on one of the most important jobs in the world,” Murray said.
    As the top Democrat on the Senate Appropriations Committee, Senator Murray helps author and negotiate defense spending each year. In Fiscal Year 2024, Murray prioritized investments in our servicemembers and military families, including by delivering on a 5.2% pay raise for servicemembers, expanding child care services, increasing funding for sexual assault prevention services, and boosting mental health and suicide prevention resources. Senator Murray also played a leading role in negotiating and delivering on a comprehensive national security supplemental in April of 2024 to extend aid to Ukraine, provide badly needed humanitarian relief, and support key partners in the Indo Pacific while deterring aggression by the Chinese government.
    Senator Murray’s full remarks, as delivered on the Senate floor today, are below and video is HERE:
    “Mr. President. I realize some Republicans were hoping we would cut this process short, but I have no problem coming to the floor, and having a lengthy discussion about Mr. Hegseth’s nomination to be Defense Secretary.
    “I am eager to talk about it. The only person who doesn’t seem to want to talk about the Hegseth nomination is actually Mr. Hegseth himself! Because, Mr. President, I have been trying for weeks to schedule a meeting with Mr. Hegseth prior to his confirmation vote.
    “I genuinely want a chance to ask him directly about my concerns with his character and fitness, yes, but also about the serious challenges facing our nation—whether it’s competition with China or aggression from Russia.
    “As Vice Chair of the Senate Appropriations Committee, I help write the bill that funds the Defense Department—every year. And that bill only passes with bipartisan support. I don’t think it’s asking a lot to be able to meet with the person nominated to lead that department.
    “I’ve had the opportunity to meet with ten of President Trump’s Cabinet nominees, and I look forward to meeting with more before they are confirmed by the Senate. Conducting these meetings is the absolute bare minimum given the role of each Senator and the constituents they represent.
    “But Mr. Hegseth refused to meet with me and has refused to meet with many of my Democratic colleagues.
    “I think most Americans would agree you shouldn’t get the job if you decide you can just skip the job interview. Every nominee—every nominee—should be willing to meet with Senators, regardless of their party, to answer basic questions about how they would approach their role if confirmed.
    “It’s honestly beneath the dignity of the role he aspires to for Mr. Hegseth to refuse to meet one-on-one with most Democrats.
    “What is he afraid of? Are the questions we have to ask really that hard? I mean, if Mr. Hegseth is afraid of me, how is he going to stand up to China?
    “Meeting with members on both sides isn’t just some formality—if you are confirmed, it is part of the job. So this is a serious concern, and one of many concerns I have with Mr. Hegseth’s qualifications, his positions, and his character.
    “Let’s be perfectly clear about the stakes here—we are talking about who we will put in command of the most powerful military in the world. There is nothing on Mr. Hegseth’s resume that remotely suggests he has the experience for that role.
    “I have a deep appreciation for his service to our country—I do. But let’s not kid ourselves here.
    “I don’t see how being a Fox TV host prepares you to lead three million servicemembers and civilians. I don’t see how bankrupting a veterans’ nonprofit through wasteful spending qualifies you to manage a budget of nearly $900 billion dollars.
    “Moreover, we really truly have no sense of what his understanding of military policy is, or what his strategic priorities would be. Now thanks to Senator Duckworth, we know that he is someone who can’t name a single country in ASEAN—I mean, that ignorance is alarming.
    “Senators had just seven minutes during his confirmation hearing to ask questions—many asked the questions we knew our Republican colleagues would not, regarding Hegseth’s questionable character and fitness. Important questions, absolutely!
    “But because we had to spend so much time understanding if he even could do this job at the most basic level—we had precious little time to ask him about how he would do his job!
    “How would Pete Hegseth ensure our servicemembers and their families have the resources they need at home and abroad? How does he plan to reduce costs and development times for key military capabilities that are critical to our national security? How would he invest in our defense industrial base and public shipyards, like the one in my home state of Washington?
    “How does he view the pacing threat in the Indo-Pacific, and how would he work with our partners and allies to prepare for a potential conflict? Does he have any thoughts on that at all?
    “This is just not a serious candidate who has thoughtful positions on the challenges that we face.
    “You know what position he is serious about? What he has stated over and over again?
    “And I quote: ‘I’m straight up just saying we should not have women in combat roles.’ He said that last November. Or, ‘we need moms. But not in the military, especially in combat units.’
    “Now that is infuriating, and disqualifying—I don’t have to try very hard to imagine how that kind of condescending attitude will go over with our women in uniform.
    “And after decades of comments like this denigrating the role of women in the military in ways that simply do not square with reality, Mr. Hegseth’s recent about-face on this topic is just not convincing.
    “He has also made clear he has little regard for the Geneva Conventions. Now, maybe this is a bit old fashioned of me, but I think we should have a Secretary of Defense who is firmly against war crimes. Not one who has spoken in favor of torture like waterboarding, in favor of people convicted of war crimes, and questioned whether we should follow the Geneva Conventions.
    “And let’s not forget—in addition to having no real qualifications, and many alarming positions, Mr. Hegseth also has many red flags that raise serious concerns about his character and his conduct.
    “There is the report that he and his management team pursued women on his staff.  There is the report that he took his employees to a strip club and got drunk. There is the report he got drunk in uniform, and had to be carried out of a strip club. There is the report he chanted ‘kill all Muslims’ while he was drunk.
    “And beyond reporting, there are the police records backing up the account of a woman who told a nurse she may have been drugged and then raped by Pete Hegseth.
    “Now, we couldn’t hear from that woman because Mr. Hegseth reached a financial settlement and he has now threatened to sue her for speaking out. And we almost didn’t hear about that incident at all since he didn’t even disclose it when he was vetted!
    “But there are other people we have heard from. We know his mother once wrote to her son, directly criticizing him as an abuser of women. We know his former sister-in-law, in a signed affidavit, has shared she saw Mr. Hegseth drink to excess, and understood his ex-wife feared for her safety with him.
    “And we know that same ex-wife told the FBI, ‘he drinks more than he doesn’t.’ That is an awful lot of smoke for us to be ignoring the fire.
    “There is absolutely no world where someone who has a history of running up debts at nonprofits should be responsible for overseeing half of our discretionary spending.
    “There is no world where someone with a history of failing to address his irresponsible alcohol use should be given one of the most stressful jobs imaginable, and should be making life and death decisions on a daily and an hourly basis.
    “There is no world where we should have a predator running the Department of Defense that is responsible for the wellbeing of millions of women and men in uniform. I don’t get how that is complicated.
    “Mr. President, let me just end on this: there is no world where the person in charge of our military should see his fellow Americans as the enemy.
    “But Mr. Hegseth has made clear that is his view. Regarding Democrats and Republicans, he has written, and this is him: ‘The other side, the left, is not our friend. We are not esteemed colleagues, nor mere political opponents. We are foes. Either we win or they win. We agree on nothing else.’
    “That is an especially dark view of our country. Our military uniforms do not say Democrat. They do not say Republican. They just don’t.
    “Mr. President, you cannot be an effective commander if your people don’t trust you. But how are troops supposed to trust you to keep them safe in combat if you think half the nation is the enemy?
    “How are Muslim servicemembers supposed to trust you if you think their religion is a threat to our country? How are women servicemembers supposed to trust you if you think they should be at home?
    “I don’t have an answer to that. Maybe Mr. Hegseth doesn’t either—maybe that’s why he won’t meet with me. And then again, maybe it’s because he thinks I’m his foe because I’m a Democrat. Or maybe he doesn’t think I should have a say in the military issues because I’m a woman.
    “But Mr. President, I do have a say—and I say someone like Mr. Hegseth is grossly unqualified to take on one of the most important jobs in the world.
    “And I will be voting against him. And I urge my Republican colleagues to seriously consider the message it will send to confirm someone for Secretary of Defense who has failed, time and again, to meet the most basic standards of conduct our women and men in uniform are required to live up to.”

    MIL OSI USA News

  • MIL-OSI United Kingdom: An open letter to the Minister for Public Finance

    Source: Scotland – City of Edinburgh

    The Council Leader has formally written to the Scottish Government to declare Edinburgh’s intention to launch a Visitor Levy.

    Writing today (24 January) following the Council’s decision to introduce a Visitor Levy scheme, Council Leader Jane Meagher addresses the Minister for Public Finance, Ivan McKee.

    The letter states:

    Dear Minister for Public Finance,

    I am writing to formally declare Edinburgh’s intention to introduce a Visitor Levy scheme.

    A full public consultation period was carried out from 23 September 2024 – 15 December 2024, with the results published in a report with the final recommended scheme.

    During a Council meeting today, the details of our Scheme were agreed and will see a levy in place from 24 July 2026, applying to all bookings made on and after 1 October 2025. The full final scheme is available on our website.

    The overarching aim of the scheme and the reason for us to agree to proceed with it is to sustain Edinburgh’s status as one of the world’s greatest cultural and heritage cities and to ensure that the impacts of a successful visitor economy are managed effectively and in support of the priorities as set out in the Council’s Business Plan.

    I would like to thank you and the work of the Visitor Levy (Scotland) Bill team. In advancing the legislation, the Scottish Government is giving Councils greater financial responsibility and strengthening local democracy.

    I am immensely proud that Edinburgh becomes the first city in Scotland to declare a levy. We were named Europe’s leading sustainable destination 2023 by the World Travel Awards and Edinburgh continues to be a world class destination with around 4 million visitors a year and a growing economy.

    The visitor levy will help boost the tourism industry with funds re-invested back into local facilities and services that will support the sustainable growth of the visitor economy. This new source of funding is urgently needed to sustain local services and spaces used by visitors and locals alike.

    I look forward to continued working between the City of Edinburgh Council and the Scottish Government as we enter the implementation period.

    Yours sincerely

    Jane Meagher

    Leader of the City of Edinburgh Council

    Published: January 24th 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: Attorney General Bonta Leads Multistate Coalition to Defend NHTSA’s Fuel-Economy Standards for Passenger Vehicles and Trucks

    Source: US State of California Department of Justice

    OAKLAND — On behalf of California and leading a multistate coalition of 15 attorneys general, California Attorney General Rob Bonta filed an amicus brief in the Sixth Circuit Court of Appeals in support of the National Highway Traffic Safety Association (NHTSA)’s fuel-economy standards for passenger cars, light trucks, and heavy-duty trucks. The NHTSA standards are designed to enhance fuel efficiency for vehicles and benefit consumers across the country. Currently, Republican-led states and oil industry groups are not only challenging these federal fuel-economy standards but also using their lawsuit to attack California’s unrelated zero-emission vehicle (ZEV) standards. The amicus brief explains why that attack on state-law emission standards—designed to reduce smog-forming and planet-warming air pollution—has no place in a challenge to federal-law fuel efficiency standards.

    “Efficient vehicles and clean vehicles should not be partisan issues. Yet, we continue to see politically motivated attacks,” said Attorney General Bonta. “We are at a critical juncture in protecting our people and the environment, and that’s why, I, alongside attorneys general nationwide, are unwavering in our commitment to defend these standards that will better protect our communities.”

    The Energy Policy and Conservation Act of 1975 (EPCA) requires NHTSA to prescribe Corporate Average Fuel Economy (CAFE) standards at the “maximum feasible” average fuel economy level that manufacturers can achieve. These standards are intended to conserve fuel, which, in turn, saves consumers money at the pump, insulates the U.S. from global oil price instability, and reduces the impact of oil consumption on public health and the environment. Last June, NHTSA announced updated standards for model years 2027 to 2031 requiring automakers to achieve higher fuel efficiency across their fleets of cars as well as light and heavy-duty trucks. NHTSA projects that the 2027-31 standards will save consumers nearly $23 billion in fuel costs by reducing gasoline consumption by about 70 billion gallons, which will also prevent 710 million metric tons of greenhouse gas emissions through 2050.

    In trying to undo those fuel-economy standards, the challengers argue NHTSA is required to develop CAFE standards as if the millions of electric vehicles that automakers sell do not exist. That fiction would lead to artificially low, do-nothing standards, and NHTSA was right to reject it. The challengers also fault NHTSA’s model of the auto industry for recognizing that automakers are already selling electric vehicles at levels consistent with California’s ZEV standards. The challengers have used NHTSA’s modeling as an excuse to attempt to shoehorn into their lawsuit a claim that California’s ZEV standards are unlawful based on a baseless theory that courts rejected over a decade ago.  

    California’s ZEV standards are a critical component of California’s vehicle emissions program that protects Californians against the health and environmental effects of vehicle exhaust pollutants including ozone, particulate matter, and toxic emissions. These emission standards have nothing to do with federal fuel-economy standards, and the Clean Air Act explicitly allows California to set its own vehicle emissions standards. The Clean Air Act also allows other states to adopt those standards for themselves if they choose.

    In the amicus brief, the coalition expresses support for NHTSA’s stringent fuel-economy standards while defending California’s ZEV standards against the challengers’ improper collateral attack. Specifically, the amicus brief highlights that a federal rule challenge is the wrong place to attack state laws.

    Attorney General Bonta leads the attorneys general of Colorado, Hawaii, Illinois, Maryland, Maine, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, Washington, Massachusetts, and the District of Columbia in filing this amicus brief. 

    A copy of the amicus brief can be found here.

     

     

    MIL OSI USA News

  • MIL-OSI USA: Governor Polis Delivers Localized State of the State Address to Business, Community, and Local Colorado Springs Leaders

    Source: US State of Colorado

    COLORADO SPRINGS/PUEBLO – Today, Governor Polis delivered his localized State of the State Address to leaders in Colorado Springs. Governor Polis discussed Colorado’s leadership in increasing the supply of housing people can afford, investing in a convenient transit system to save people time and money, protecting our clean air and public spaces, making our communities safer, preparing Colorado students for success, and creating a competitive business environment and workforce to foster growth and innovation. 

    “Over the past year, we have been laser-focused on saving people money and lowering the cost of living, and there’s a lot more we need to do. Colorado needs to lead the way in building more housing that Coloradans and families can afford, expand transit options to protect our clean air, make our communities and neighborhoods safer, and much more,I look forward to the work ahead to build on our successes, keep Colorado’s economy and workforce strong, and make Colorado a model of personal and economic freedom for the nation,” said Governor Jared Polis. 

    Earlier this year, Governor Polis delivered his seventh State of the State Address to the Colorado General Assembly. Governor Polis highlighted Colorado’s leadership across the board to lower the cost of living and protect the rights and freedoms of all Coloradans. He outlined work ahead to continue building more housing Coloradans can afford near jobs and transit options. 

    In his address, Governor Polis echoed his State of the State address to the General Assembly, and called for smart stair reform to empower builders to create apartments that fit in our neighborhoods, not just city blocks, allowing houses of worship to use the land they own to help address our housing shortage, and double down on Colorado’s investment in innovative modular housing solutions. 

    Governor Polis also will met with AmeriCorps members in Pueblo to learn how AmeriCorps is utilizing apprenticeships and increasing opportunities for members to get credentials that prepare service members for success and strengthen our economy. 

    “In Colorado, we are building a future where success and good-paying jobs are available to more Coloradans through many different low-cost educational paths. Connecting Coloradans with opportunities to gain credentials and develop skills with a paid apprenticeship will strengthen our workforce and economy, and I am thrilled that AmeriCorps is doing exactly that in Pueblo and around our state,” said Governor Polis. 

    Later today, Governor Polis will meet with Pueblo Community College President Dr. Chato Hazelbaker and will tour the school’s welding labs, which were renovated in 2020. These renovations were supported by remaining state funding from SB17-267, Sustainability Of Rural Colorado. This funding helped the weld shop expand to more than 6,000 square feet and add ten new welding stations along with numerous enhanced safety features, new lighting and dedicated space for major fabrication equipment. These facilities are helping strengthen Colorado’s workforce and helping more Coloradans get the skills they need to fill in-demand welding jobs. 

    “Strengthening our workforce and helping more Coloradans build needed skills that lead to good paying jobs is good for our communities and our economy. I applaud the work Pueblo Community College is doing to support Coloradans in working to build careers,” said Governor Jared Polis. 

    ###

    MIL OSI USA News

  • MIL-OSI: BitMart Celebrates the Year of the Snake with 300,000 USDT in Rewards

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles , Jan. 24, 2025 (GLOBE NEWSWIRE) — Today, BitMart, the leading global cryptocurrency exchange, is thrilled to announce the Year of the Snake Campaign, featuring a 300,000 USDT prize pool in random tokens. From January 21, 2025, to February 11, 2025, users can participate in exciting activities and claim their share of rewards across trading, referrals, social media, and more.

    Event Highlights:

    Trading Competition – 100,000 USDT in Prizes
    Compete based on total trading volume and win big! The top 50 traders will receive rewards, with the 1st place winner taking home 10,000 USDT.

    New User Rewards – 50,000 USDT Giveaway
    Register and trade 300 USDT to earn 10-20 USDT in random tokens. Limited availability – first come, first served!

    Invite & Earn – 50,000 USDT Reward Pool
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    The MIL Network

  • MIL-OSI Europe: Text adopted – Russia’s disinformation and historical falsification to justify its war of aggression against Ukraine – P10_TA(2025)0006 – Thursday, 23 January 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to its previous resolutions on Russia’s war of aggression against Ukraine,

    –  having regard to its previous resolutions on historical remembrance,

    –  having regard to the Charter of the United Nations,

    –  having regard to the Rome Statute of the International Criminal Court (ICC),

    –  having regard to the Geneva Conventions,

    –  having regard to Rule 136(2) and (4) of its Rules of Procedure,

    A.  whereas on 24 February 2022, the Russian regime declared the start of a ‘special military operation’ in Ukraine based on false claims that it needed to protect civilians;

    B.  whereas, in fact, since 24 February 2022 the Russian Federation has been waging an unprovoked, unjustified and illegal war of aggression against Ukraine, in continuation of previous aggressions since 2014, and continues to persistently violate the principles of the UN Charter through its aggressive actions against the sovereignty, independence and territorial integrity of Ukraine and to blatantly and grossly violate international humanitarian law, as established by the Geneva Conventions of 1949, in particular through the massive use of targeted attacks against the civilian population, residential areas and civilian infrastructure;

    C.  whereas the UN General Assembly, in its resolution of 2 March 2022, immediately qualified Russia’s war against Ukraine as an act of aggression in violation of Article 2(4) of the UN Charter, and, in its resolution of 14 November 2022, it recognised the need to hold the Russian Federation accountable for its war of aggression, as well as legally and financially responsible for its internationally wrongful acts, and that Russia should pay reparations for the injuries and damage caused;

    D.  whereas Russia’s aggression against Ukraine is not an isolated act but a continuation of its imperialistic policy, which has included a war against Chechnya and military aggression against Georgia in 2008, and the occupation of Crimea and the start of a war in the Donbas in 2014;

    E.  whereas the start of Russia’s full-scale war of aggression against neighbouring Ukraine was preceded by several public declarations by the president of the Russian Federation seeking to justify its use of force by means of historical revisionism, false claims and illegitimate demands for the recognition of its exclusive interests in Ukraine and other neighbouring countries;

    F.  whereas the Russian regime has been making widespread use of disinformation, including based on distorted historical arguments, and foreign information manipulation and interference in an attempt to justify its crime of aggression, to incite the Russian population to support its illegal regime and illegal war of aggression against neighbouring Ukraine, to interfere in the democratic processes of other countries and to reduce support among their populations for continued international assistance and support for Ukraine against Russia’s war of aggression; whereas the Russian regime denies Ukraine’s distinct national identity, falsely claiming it as part of the Russian world (‘Russkiy mir’), a narrative rooted in imperialistic ideology; whereas Russia is demolishing Holodomor memorials and restoring demolished monuments to Lenin in the occupied territories of Ukraine;

    G.  whereas Russia has not only failed to acknowledge the unforgivable initial role of the Soviet Union in the early stages of World War II, for example through the 1939 Treaty of Non-Aggression between Nazi Germany and the Union of Soviet Socialist Republics (Soviet Union) and its secrets protocols, commonly referred to as the Molotov-Ribbentrop Pact of 1939, in which both totalitarian regimes conspired to divide Europe into exclusive spheres of influence, and failed to assume its responsibility for the many atrocities and mass crimes committed in territories occupied by the Soviet Union, but the current Russian regime has also instrumentalised history and created a cult of ‘victory’ around World War II to ideologically mobilise citizens and manipulate them into supporting an illegal war of aggression;

    H.  whereas Russia has developed a growing disinformation campaign of historical revisionism for the purpose of denying Ukraine its national identity, statehood and very existence, and with the aim of justifying its claims to exclusive spheres of influence, which is reminiscent of how the Soviet Union agreed with Nazi Germany to invade and occupy parts of Poland and Romania as well as Estonia, Latvia, Lithuania and Ukraine in the Molotov-Ribbentrop Pact; whereas today, Russia poses a particular threat to Poland and the Baltic States and their sovereignty through this type of historical revisionism;

    I.  whereas Victory Day, celebrated annually on 9 May, has been turned by the current Russian regime into a tool of war propaganda in Russia, by exploiting the narrative of the ‘liberation of Europe from Nazism’ and thus ignoring the subsequent Soviet occupation of the Baltic States and the subjugation of central Europe; whereas this narrative of liberation from Nazism is being used today in Russia’s war of aggression against Ukraine;

    J.  whereas in some Member States, communist symbols, as well as the symbols of the ongoing Russian aggression, are prohibited by law; whereas since 2009, 23 August has been commemorated across the EU as the European Day of Remembrance for Victims of all Totalitarian and Authoritarian Regimes; whereas since 2003, Parliament has held an annual commemoration for the victims of mass Soviet deportations;

    1.  Reiterates its condemnation, in the strongest possible terms, of Russia’s unprovoked, illegal and unjustified war of aggression against Ukraine; calls on Russia to immediately terminate all military activities in Ukraine and to completely and unconditionally withdraw all forces, proxies and military equipment from the entire internationally recognised territory of Ukraine, to end its forced deportations of Ukrainian civilians and to release all detained and deported Ukrainians, particularly children;

    2.  Rejects the various claims made by the Russian regime as futile attempts to justify an illegal war of aggression that constitutes a blatant violation of the UN Charter and of the responsibility of the Russian Federation as a permanent member of the UN Security Council to maintain peace and stability and that was immediately recognised as such by the other permanent members of the UN Security Council, along with an overwhelming majority of the UN General Assembly; recalls that no consideration of whatever nature, whether political, economic, military, historic or otherwise, may serve as a justification for Russia’s aggression against Ukraine;

    3.  Condemns the Russian regime’s systematic falsification and use of distorted historical arguments, such as those related to the Molotov-Ribbentrop Pact, in its attempt to manipulate Russian public opinion into supporting criminal actions such as the illegal war of aggression against neighbouring Ukraine, to undermine international support and assistance for Ukraine and to erase Ukraine’s distinct cultural and historical identity; denounces Russia’s claim that it is entitled to zones of exclusive interest at the expense of the sovereignty and territorial integrity of other states as incompatible with international law;

    4.  Condemns the Russian Federation’s failure to establish accountability for Soviet crimes and its deliberate obstruction of historical research by denying access to and closing Soviet archives, as well as the fact that it has enacted legislation criminalising the truthful portrayal of Soviet and Russian crimes and persecuted civil society organisations investigating Soviet crimes, and has glorified Stalinist totalitarianism and re-created its methods; maintains that impunity and the lack of factually accurate historical and public debate and education has contributed to the current Russian regime’s ability to revive imperialist policies and instrumentalise history for its criminal purposes; condemns the persecution of civil society organisations investigating Soviet crimes or the crimes of the current regime, including the liquidation of International Memorial, the Memorial Human Rights Defence Centre, and the Moscow Helsinki Group, as well as the forced closure of the Sakharov Centre;

    5.  Recalls that the deliberate attacks of the Russian Federation on the civilian population of Ukraine, the destruction of civilian infrastructure, the use of torture, sexual violence and rape as weapons of war, the deportation of thousands of Ukrainian citizens to the territory of the Russian Federation, the forced transfer and adoption of Ukrainian children, and other serious violations of international humanitarian law and human rights constitute war crimes for which all perpetrators must be held accountable;

    6.  Reiterates, therefore, its full support for the ongoing investigation by the Prosecutor of the ICC into the situation in Ukraine based on alleged war crimes, crimes against humanity and genocide; welcomes Ukraine’s formal accession to the ICC as of 1 January 2025 as an important contribution to international efforts to establish accountability for serious international crimes; calls for the EU to make further diplomatic efforts to encourage the ratification of the Rome Statute and all its amendments globally;

    7.  Furthermore also reiterates its call for the establishment of a special tribunal to investigate and prosecute the crime of aggression committed by the leadership of the Russian Federation against Ukraine; reiterates its call on the Commission, the Council and the European External Action Service to provide all political, financial and practical support necessary for the establishment of a special tribunal; expresses its full support for the International Centre for the Prosecution of the Crime of Aggression in Ukraine, based in The Hague and supporting the ongoing efforts of the Joint Investigation Team, as a first concrete step towards the establishment of the special tribunal;

    8.  Calls strongly for the EU and its Member States to further increase and coordinate their efforts, including with like-minded partners, to promptly and rigorously counter Russian disinformation and foreign information manipulation and interference in order to protect the integrity of their democratic processes and strengthen the resilience of European societies, inter alia by actively promoting media literacy and by supporting quality media and professional journalism, in particular investigative journalism that uncovers Russian propaganda, its methods and networks, and by supporting research into new hybrid influence technologies;

    9.  Calls for the EU to expand its sanctions against Russian media outlets conducting disinformation and information manipulation campaigns supporting and justifying Russia’s war of aggression against Ukraine and calls on the Member States to swiftly and thoroughly implement these sanctions and to dedicate sufficient resources to effectively addressing this hybrid warfare; calls for the EU and the Member States to step up their support for the independent Russian media in exile in order to enable diverse voices in the Russian-language media;

    10.  Expresses deep concern about the recent announcements from social media companies’ leadership concerning relaxing their rules on fact-checking and moderation and how this will further enable Russia’s disinformation campaign around the world; calls on the Commission and the Member States to strictly enforce the Digital Services Act in response to these announcements by Meta and earlier by X, including as an important part of the fight against Russian disinformation;

    11.  Calls on EU citizens to critically evaluate information by questioning its origins and intentions, particularly when it pertains to narratives linked to Russia, and to crosscheck facts using diverse and reliable sources to resist attempts at manipulation by foreign malign actors;

    12.  Condemns Moscow’s exploitation of Orthodox religion for geopolitical purposes, notably through the instrumentalisation of the Russian Orthodox Church (Moscow Patriarchate) as a tool to influence and exert control over Orthodox populations in Ukraine, Georgia, Moldova, Serbia and other countries;

    13.  Responds to the statement of the Verkhovna Rada of Ukraine of 2 May 2023 on the ideology of ‘Ruscism’ by condemning the nationalist imperialist ideology, policy and practices of the current Russian regime; stresses the incompatibility of this ideology and policy and these practices with international law and European values;

    14.  Believes that Russia’s attempts to misrepresent, revise and distort the history of Ukraine undermine the collective memory and identity of Europe as a whole and represent a threat to historical truth, democratic values and peace in Europe; calls on the Member States, therefore, to invest more in education on and research into the common history of Europe and European remembrance, and to support projects that promote a better understanding of the impact of the division of Europe during the Cold War; expresses its support for the building of a pan-European memorial in Brussels for the victims of the 20th century totalitarian regimes; regrets the continued use of symbols of totalitarian regimes in public spaces and calls for an EU-wide ban on the use of both Nazi and Soviet communist symbols as well as symbols of Russia’s ongoing aggression against Ukraine;

    15.  Expresses its wish for the EU and its Member States to promote better knowledge and understanding of the human suffering of Europeans inflicted by the Soviet regime during the 20th century; in this respect, calls for remembrance and respect for the victims of Soviet crimes, such as the mass deportations, including of the Crimean Tatar people and from the Baltic countries, the Gulag system, the Holodomor, massacres such as the Katyn massacre, and the Upper Silesian tragedy;

    16.  Instructs its President to forward this resolution to the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the Council, the Commission, the governments and parliaments of the Member States, the Council of Europe, the Organization for Security and Co-operation in Europe, the President, Government and Parliament of Ukraine, and the Russian institutions.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Canaries migrant crisis: economic aid to the region – E-002575/2024(ASW)

    Source: European Parliament

    In 2024, Spanish authorities have applied for additional support from the Asylum, Migration and Integration Fund (AMIF) under the call ‘Reception capacity for Member States under pressure’ for EUR 9.5 million (supporting the increase of the reception capacity in the mainland and the Canary Islands), and under the call ‘Member States under pressure — unaccompanied minors’ (supporting the reorganisation of the care system for unaccompanied minors in Andalusia) for EUR 15 million. Both proposals were selected by the Commission and additional funding was added to the Spanish AMIF programme.

    Furthermore, upon the request from the Spanish authorities, the Commission granted support under emergency assistance twice in 2024.

    The first one for a total amount of EUR 20 million under the AMIF, with the objective to relieve the migratory pressure in the reception facilities in Canary Islands.

    The second action for EUR 17.5 million under the Border Management and Visa Instrument (BMVI), to strengthen the capacity of the Canary Islands to assist and identify immigrants arriving on its coasts.

    In addition to the financial support described above, the Spanish authorities are receiving support by the European Border and Coast Guard Agency and the European Union Agency for Asylum (EUAA) in the framework of the Agencies operational plans.

    Regarding the reception of unaccompanied minors, the EUAA is providing support to enhance the administrative capacity of the reception authorities of the Canary Islands through the Ministry of Childhood and Youth.

    Last updated: 24 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Text adopted – Systematic repression of human rights in Iran, notably the cases of Pakhshan Azizi and Wrisha Moradi, and the taking of EU citizens as hostages – P10_TA(2025)0004 – Thursday, 23 January 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to its previous resolutions on Iran,

    –  having regard to Rules 150(5) and 136(4) of its Rules of Procedure,

    A.  whereas the human rights situation in Iran has significantly worsened, with a sharp rise in executions, including over 900 individuals in 2024 alone, many of whom were women, political dissidents and individuals connected to the protests sparked by the murder of Jina Mahsa Amini;

    B.  whereas Kurdish activists, social worker Pakhshan Azizi and advocate for women’s rights Verisheh (Wrisha) Moradi, who fought ISIS in Kurdistan, were sentenced to death for ‘armed rebellion against the state’; whereas they were denied a fair trial and subjected to torture and solitary confinement;

    C.  whereas in January 2025 the Supreme Court of Iran upheld a death sentence against Pakhshan Azizi and others;

    D.  whereas dozens of innocent EU nationals have been arbitrarily detained in Iran, without access to fair trials, as part of Iran’s broader strategy of hostage diplomacy;

    1.  Denounces the Iranian regime’s unrestrained repression of human rights, in particular the targeting of women activists; strongly condemns the death sentence against Pakhshan Azizi and Wrisha Moradi; demands that Iran immediately and unconditionally release all unjustly imprisoned human rights defenders and political prisoners, including Pakhshan Azizi, Wrisha Moradi and at least 56 other political prisoners on death row;

    2.  Reiterates its strong opposition to the death penalty and calls on the Iranian Government to introduce an immediate moratorium on and abolish it;

    3.  Calls for the EU and its Member States to increase support for Iranian human rights defenders and expresses its full support and solidarity with Iranians united in the ‘Woman, Life, Freedom’ movement;

    4.  Urges the Iranian authorities to immediately release, safely repatriate and drop all charges against EU nationals, including Olivier Grondeau, Cécile Kohler, Jacques Paris and Ahmadreza Djalali; strongly condemns Iran’s use of hostage diplomacy; calls for the EU and its Member States to undertake joint diplomatic efforts and work collectively towards their release;

    5.  Strongly condemns the murder of Jamshid Sharmahd; urges the Islamic regime in Iran to provide details of the circumstances of his death and for his remains to be immediately returned to his family;

    6.  Condemns the Iranian regime’s systemic suppression of human rights movements and persecution of minorities, including Kurds, Baluchis, Christians, facing persecution after conversion, and Baha’is, all of them facing ethnic and religious discrimination, arrest and violations of fundamental rights aimed at silencing dissent;

    7.  Reiterates its call on the Council to designate the Islamic Revolutionary Guard Corps a terrorist organisation and to extend EU sanctions to all those responsible for human rights violations, including Supreme Leader Ali Khamenei, President Masoud Pezeshkian, Judiciary Chief Gholam-Hossein Mohseni-Eje’i, Prosecutor-General Mohammad Movahedi-Azad and Judge Iman Afshari;

    8.  Urges the Iranian authorities to provide the UN Special Rapporteur on the human rights situation in Iran and the UN fact-finding mission with full, unimpeded access to enact their mandates; calls for the EU and the Member States to fully support the mission and support the renewal of its mandate;

    9.  Reiterates its call for increased financial support for Iranian civil society;

    10.  Instructs its President to forward this resolution to the Council, the Commission, the VP/HR, the Islamic Consultative Assembly and the Supreme Leader of the Islamic Republic of Iran.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Housing crisis in the European Union – E-002099/2024(ASW)

    Source: European Parliament

    To address the housing crisis and promote more affordable and sustainable housing in the EU, the Commission will launch the first-ever European Affordable Housing Plan.

    The plan will offer technical assistance to cities and Member States, focus on investment and skills needed and support the construction sector.

    To promote investments in affordable and sustainable housing, the Commission will set up, together with the European Investment Bank, a pan-European investment platform.

    The Commission will work closely with international financial institutions, national promotional banks and institutions and other stakeholders in this work.

    The European Social Fund Plus (ESF+) and the European Regional Development Fund (ERDF) can support Member States in implementing principle 19 of the European Pillar of Social Rights ‘Housing and assistance for homeless people’.

    While ESF+ actions can include integrated support services for access to housing, including social housing, the ERDF focuses on the provision and improvement of physical housing infrastructure, including through energy efficiency measures.

    Moreover, Cohesion policy offers possibilities to use ESF+ and ERDF for housing initiatives in an integrated manner, addressing both the infrastructure and services dimensions.

    Young people often struggle to afford housing. ESF+ provides targeted support for the youth through programs combining housing assistance with employment or education opportunities, addressing multiple needs to foster independence.

    The existing EU legislative framework, notably initiatives of the Fit for 55 package, sets policies and measures contributing to affordable and sustainable housing. Its implementation is key and will be a priority.

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – The future of cohesion policy: Current state of the debate – 24-01-2025

    Source: European Parliament

    Discussions on the next EU multiannual financial framework are expected to begin soon. These talks on the allocation of future budget resources have a direct impact on all European Union policies, including EU cohesion policy. A reflection on the future of cohesion policy is underway, engaging EU institutions and advisory bodies, EU Member States, regional and local authorities, and stakeholders. The European Commission set up a high-level group of specialists to examine the direction of cohesion policy, which came up with a number of conclusions in March 2024. These conclusions fed into the ninth report on economic, social and territorial cohesion, which acts as a compass for the Commission’s reform options for the future design of cohesion policy. Nevertheless, there are still some crucial decisions ahead. This reflection process not only entails technical matters, but also touches upon many other policy issues, some of which have highly political content. Negative scenarios for the cohesion budget, competing thematic priority allocations, a possible recentralisation of funds, or the future relationship with the Recovery and Resilience Facility, all have the potential for political friction. Issues requiring discussion include simplification and flexibility, better coordination of European Structural and Investment Funds with other instruments, and a more focused ‘place-based’ approach to cohesion policy. Local and regional authorities across all EU Member States highly value and support EU cohesion policy. However, political division between budget net-recipient Member States and net contributors could lead to cohesion policy being contested, especially in the light of new emerging priorities for the EU (e.g. in immigration, security and defence, or enlargement). The appointment of a new College of Commissioners on 1 December 2024 and the beginning of a new legislative process provide a unique opportunity for regional and local stakeholders to influence national positions and those of the European institutions at an early stage. This is an update of an October 2023 briefing by Balazs Szechy.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the inaugural function of the International Year of Cooperatives-2025 in Mumbai, Maharashtra

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the inaugural function of the International Year of Cooperatives-2025 in Mumbai, Maharashtra

    Under the leadership of Prime Minister Narendra Modi, cooperatives will pave the way for employment and prosperity for agriculture and rural areas in the coming days

    Under the leadership of PM Modi, the double engine government of Maharashtra will make the state a hub of cooperatives in a true sense

    Celebrating Year of Cooperatives in India will significantly expand cooperatives across the country

    During the International Year of Cooperatives, efforts will be made to increase the reach of cooperatives and to connect every person with cooperatives

    Under the leadership of PM Modi, the cooperative sector of India is moving forward with the principles of social harmony, equality and inclusiveness

    The cooperative sector running on the principle of ‘Cooperation Amongst Cooperatives’ will be economically self-reliant across the country 

    The ‘umbrella organization’ will integrate activities like digital banking, mobile banking, online transactions and trade with foreign countries with the Urban Cooperative Bank

    Soon, all cooperative banks will be equipped with the services of regular banks, which will lead to the development of cooperative banking

    Posted On: 24 JAN 2025 8:53PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah today addressed the inaugural function of International Year of Cooperatives 2025 in Mumbai, Maharashtra. Shri Amit Shah also inaugurated the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC). On this occasion, Minister of State for Cooperation Shri Murlidhar Mohol, Maharashtra Deputy Chief Ministers Shri Eknath Shinde and Shri Ajit Pawar, along with the Secretary of the Ministry of Cooperation, Dr. Ashish Kumar Bhutani, and several other dignitaries were present.

     

     

    In his address, Union Home Minister and Minister of Cooperation Shri Amit Shah said that Prime Minister Shri Narendra Modi recently inaugurated the International Year of Cooperatives 2025. He mentioned that the Ministry of Cooperation has outlined a 12-month program to celebrate the Year of Cooperatives in India, which is being inaugurated today. He said that India will celebrate the Year of Cooperatives in a way that will significantly advance the cooperative movement across the country. He emphasized that during the International Year of Cooperatives, efforts will be made to expand the cooperative sector, bring transparency within it, strengthen cooperative institutions, increase the reach of cooperatives to new areas, and connect every individual in India to some form of cooperation.

    Shri Shah stated that by December 31, 2025, when the UN International Year of Cooperatives concludes, the growth of India’s cooperative movement will be both symmetric and inclusive, and the goal of “Sahkar Se Samriddhi” will be largely achieved. He further noted that the cooperative sector will play a significant role in achieving the two major goals set by Prime Minister Shri Narendra Modi: becoming the third-largest economic power in the world and transforming into a fully developed nation by 2047. He added that the cooperative sector will advance on the principles of social harmony, equality, and inclusivity.

     

     

    The Union Home Minister and Minister of Cooperation said that the virtual inauguration of the umbrella organization for cooperative banks, the National Urban Cooperative Finance and Development Corporation (NUCFDC), took place today. He stated that this organization will provide multidimensional benefits to the urban cooperative sector. He added that within the next three years, all our scheduled cooperative banks will be equipped with services equivalent to those offered by national and private banks, which will significantly expand the scope of their services. Along with this, the focus will also be on better utilization of resources, improving banking processes, and unifying the accounting systems of all cooperative banks. Shri Shah mentioned that India currently has a total of 1,465 urban cooperative banks, nearly half of which are located in Gujarat and Maharashtra. The country also has 49 scheduled banks and over 8.25 lakh cooperative institutions.

    Union Minister of Cooperation stated that in the coming days, the principle of ‘Cooperation Amongst Cooperatives’ will be implemented across the nation. The ‘umbrella organization’ will do the work of integrating activities like digital banking, mobile banking, online transactions and trade with foreign countries with the Urban Cooperative Bank. All transactions and financial activities of cooperative institutions will be conducted exclusively through cooperative banks. Shri Shah emphasized that once the principle of Cooperation Amongst Cooperatives is effectively grounded in all states, it will lead to significant success, enabling the cooperative sector to achieve economic self-reliance.

    Shri Amit Shah stated that the Modi government has resolved several issues concerning urban cooperative banks with the Reserve Bank of India. He mentioned that in the coming days, strengthening the umbrella organization will help increase trust and business while removing all obstacles. He also highlighted that the training program for the 10,000 M-PACS (Multipurpose Primary Agricultural Cooperative Societies) formed under the new bylaws is starting today, marking a new beginning. He further mentioned that the goal is to establish a PACS in every village panchayat across the country. To ensure the viability of PACS, model bylaws have been created, which have been accepted by all states.

    Shri Shah stated that under the model bylaws, PACS can now engage in a variety of new activities. He mentioned that the Modi government has spent Rs. 2,500 crore to provide computers and software to each PACS and has made efforts to link these various activities with PACS. He emphasized that to make this initiative successful, technology must be adopted. He also said that by bringing professionalism into PACS, the entire cooperative sector can be strengthened through them.

    Union Minister of Cooperation emphasized the importance of involving youth proficient in modern technology to make cooperatives self-reliant, whether in banks or PACS. He expressed confidence that the combined efforts of the ‘double engine government’ led by Prime Minister Shri Narendra Modi, along with Shri Devendra Fadnavis, Shri Eknath Shinde, and Shri Ajit Pawar, would transform Maharashtra into a true hub of cooperative excellence. He said that cooperatives can be a source of employment in every village.

    Shri Amit Shah highlighted the significant support extended by the Modi government to the cooperative sector, noting that the introduction of ethanol production has boosted the profitability of sugar mills. He mentioned that to ensure better prices for sugar, Prime Minister Modi recently approved the export of 10 lakh tonnes of sugar, benefiting Maharashtra’s cooperative sugar mills the most. He further stated that the Modi government is committed to advancing the cooperative sector and has introduced a ranking system to achieve this goal. The rankings will cover seven key areas: PACS, dairy, fisheries, urban cooperative banks, housing credit societies, credit cooperatives, and Khadi Village Industries. Shri Shah explained that the ranking system is based on several parameters, including audits, activities, services, financial performance, infrastructure, and branding, collectively weighted for 100 marks. This system aims to enhance transparency and reliability, ensuring that banks can confidently provide funding to PACS based on these rankings in the future.

    Union Home Minister and Minister of Cooperation stated that under the leadership of Prime Minister Shri Narendra Modi, the government is advancing with the vision of ‘Sahkar Se Samriddhi’ (Prosperity through cooperation) and “Samriddhi se Aatmanirbharta” , which is self-reliance through prosperity. He announced the initiation of three key projects at the event: the inauguration of the International Year of Cooperative (IYC) 2025 related event calendar, the launch of the office for the umbrella organization of Urban Cooperative Banks – NUCFDC, and the first training session for 10,000 new MPACS members. Shri Amit Shah also revealed that in the upcoming budget session, the government will announce the establishment of the Tribhuvan National Cooperative University, named after the eminent cooperative leader of Gujarat, Shri Tribhuvan Das Patel. This university will focus on producing skilled professionals for various sectors. He expressed confidence that, under Prime Minister Modi’s leadership, the cooperative sector will drive employment and prosperity in agriculture, rural areas, and among the youth in the coming days.

    *****

    Raj / Vivek / Priyabhanshu / Pankaj

    (Release ID: 2095982) Visitor Counter : 74

    Read this release in: Hindi

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: NITI Aayog launches the “Fiscal Health Index 2025” in New Delhi

    Source: Government of India

    Posted On: 24 JAN 2025 8:30PM by PIB Delhi

    The Fiscal Health Index report will be an annual publication focusing on the fiscal health of Indian states, offering data-driven insights that will be leveraged for informed state-level policy interventions to improve overall fiscal governance, economic resilience, and stability of the nation” – Sh. BVR Subrahmanyam, CEO, NITI Aayog.

    The Hon’ble Chairman of the 16th Finance Commission, Dr. Arvind Panagariya, launched the inaugural issue of NITI Aayog’s report titled “Fiscal Health Index (FHI) 2025 on 24th January 2025 in New Delhi, in the august presence of Shri Suman Bery, Hon’ble Vice Chairman, NITI Aayog; Dr. Arvind Virmani, Hon. Member, NITI Aayog; Shri BVR Subrahmanyam, CEO, NITI Aayog; Dr. Anoop Singh, Distinguished Fellow, NITI Aayog and other senior officials. The report provides a comprehensive assessment of the fiscal health of 18 major States, based on five key sub-indices: Quality of Expenditure, Revenue Mobilisation, Fiscal Prudence, Debt Index, and Debt Sustainability, along with insights into state-specific challenges and areas for improvement.

    The FHI aims to throw light on the fiscal status at the sub-national level and guide policy reforms for sustainable and resilient economic growth. The report ranks States on the basis of composite fiscal index, which is based on five major sub-indices viz, quality of expenditure, revenue mobilisation, fiscal prudence, debt index, and debt sustainability. With a cumulative score of 67.8, Odisha tops the ranking in fiscal health among 18 major States, followed by Chhattisgarh and Goa with scores of 55.2 and 53.6, respectively. The achiever States display strong fiscal health, excelling in revenue mobilization, expenditure management, and debt sustainability. Improvements are seen in states like Jharkhand, which has strengthened fiscal prudence and debt sustainability, while Karnataka faces a decline due to weaker performance in expenditure quality and debt management. These interstate disparities highlight the need for targeted reforms to address specific fiscal challenges and ensure sustainable growth.

    Hon’ble Chairman of the 16th FC, Dr. Panagariya, while launching the report, underscored the need for the States to follow a stable fiscal path for balanced regional development, long-term fiscal sustainability, and prudent governance. He mentioned that the FHI offers a comprehensive and systematic approach to measuring state-level fiscal performance and provides valuable insights into broader fiscal trends, allowing for a better understanding of fiscal health across the country. He emphasised that the FHI report helps to promote a more integrated approach to fiscal health and sustainable growth, reinforcing the shared responsibility of both levels of government in achieving national prosperity.

    Speaking on the occasion, Sh. Suman Bery emphasised that the FHI offers a roadmap for achieving fiscal consolidation, improving transparency, and fostering effective resource management. He further stated that FHI is not merely a ranking but a tool designed to assess and thereby improve the fiscal health of States. It provides a framework to evaluate the financial well-being of state economies through key fiscal indicators.

    Sh. B.V.R. Subrahmanyam highlighted that the FHI report will be instrumental in helping policymakers make informed decisions. He noted that the report provides an objective picture of the fiscal landscape across states and also offers actionable insights for strengthening fiscal resilience and ensuring sustainable economic development of the States. By focusing on major fiscal indicators, the FHI encourages states to align their fiscal strategies with national objectives, ensuring their contributions to the goal of a fiscally stable and prosperous India and, most importantly, promoting healthy competition among states. He stressed that the FHI’s findings are aligned with India’s broader vision of achieving “Viksit Bharat @2047,” where fiscal discipline at the state level plays a pivotal role in the nation’s economic transformation.

    Dr. Virmani congratulated the team and highlighted that the FHI report will underscore the critical role of cooperative federalism in strengthening India’s governance framework. He emphasized that fostering collaboration between the Centre and states is key to addressing regional disparities and driving holistic economic development.

    It is further informed that this report marks the launch of an annual series aimed at providing valuable, data-driven insights into the fiscal health of India’s states, fostering informed decision-making and policy interventions. The FHI is designed to assist policymakers by offering insights into states’ fiscal health and helping identify areas requiring intervention and strategic planning.

    The full report can be accessed at: https://www.niti.gov.in/sites/default/files/2025-01/Fiscal_Health_Index_24012025_Final.pdf

     

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