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Category: Economy

  • MIL-OSI USA: Highlighting the Impacts of Paying Off New York’s UI Debt

    Source: US State of New York

    overnor Kathy Hochul and Heather Mulligan, President and CEO of the Business Council of New York State, visited local business owner, Eli Smith, to discuss the impacts of using nearly $7 billion to pay off the federal Unemployment Insurance (UI) Trust Fund loan and replenish the Fund — a move that will bring the Fund to solvency, increase benefits for unemployed New Yorkers and cut costs to businesses. The Governor reached agreement to take this action back in May as part of the FY26 Enacted Budget.

    “With the Unemployment Insurance Trust Fund loan paid off, businesses and workers across the state will feel and see the financial relief that they deserve during a time when inflation is just so high,” Governor Hochul said. “New York State continues to work to put money back into the pockets of New Yorkers, cut costs for our businesses and uplift the state’s economy.”

    The Business Council of New York State President and CEO Heather Mulligan said, “On behalf of businesses across New York State, we are grateful that Governor Hochul found the UI debt to be a priority and agreed to fully pay off the remaining balance that had been a strain on all businesses, especially smaller employers across the state. This multi-billion-dollar burden served as an added tax on our employers for the past four years, restricting them from reinvesting in their businesses or local economies. We appreciate the willingness of the Assembly leadership to work with Governor Hochul and the business community to make the UI fund solvent.”

    Before the COVID-19 pandemic, the UI Trust Fund had a positive balance of nearly $2.5 billion. However, due to the economic downturn caused by the pandemic, the balance was paid out to unemployed New Yorkers, requiring the State to borrow from the federal government to continue paying eligible claims. Paying off the debt and making the fund solvent allows the State to increase the maximum UI benefit rate for unemployed New Yorkers so that it better aligns with other states. The maximum weekly benefit to unemployed workers, which has been frozen because of the debt, will increase from $504 to $869 in October.

    By paying off the debt, the State is also putting money back in the pockets of business owners, whose contribution rates had continued to climb while the debt was paid down. Employers are projected to save an average of $100 per employee in 2026 and $250 per employee in 2027. Additionally, the taxable wage base will increase in 2026, strengthening the trust fund over time and helping to maintain affordable tax rates for New York’s employers in the long term.

    E. Smith Contractors President Eli Smith said, “By paying off the unemployment debt I will save more than $300 per employee, and with about 50 workers in New York, that savings adds up. I can take that savings and invest in new equipment, workforce development or other ways to improve my business. I appreciate the Governor and the Legislature taking this step and also the advocacy of the Business Council of New York State.”

    New York State Department of Labor Commissioner Roberta Reardon said, “I thank Governor Hochul and the Legislature for paying off New York’s Unemployment Insurance Trust Fund debt, which is a win for both businesses and workers statewide. This action will cut costs for our businesses and increase benefits for unemployed New Yorkers when they need it most. By stabilizing this critical safety net for our workforce, we’re ensuring New York State is more affordable for all.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “The need for increased Unemployment Insurance contributions was a piece of New York’s greater post-COVID economic recovery challenge. By paying off the remaining federal Unemployment Insurance debt through the State Budget, Governor Hochul and the State Legislature are improving New York’s business climate and offering a direct, tangible benefit to businesses of all sizes across the state.”

    Assembly Speaker Carl Heastie said, “Our small businesses have been clear – paying off the unemployment insurance debt has been a huge relief. Now they can shift that cost towards growing and thriving within our communities and we can provide better coverage for our unemployed families as they get back on their feet. The Assembly Majority fought hard for this inclusion in the budget as we understood the critical benefit this would have to small businesses and New York’s hardworking families as they continue to make our state a place we’re all proud to call home.”

    State Senator Jessica Ramos said, “Paying off the Unemployment Insurance debt was long overdue and it’s a win for both workers and small businesses across New York. During the pandemic, our UI system was a lifeline, but for too long the burden of repayment fell unfairly on businesses while workers were stuck with frozen benefits. With this year’s budget, we finally turned the page. We’re raising benefits to meet the realities of today’s economy and easing the load on employers who kept our communities going. I’m grateful to Governor Hochul for working with us to get this done. This is what responsible, pro-worker, pro-business policy looks like.”

    Assemblymember Harry B. Bronson said, “Paying off this debt was critical for all New Yorkers and our job creators. We secured relief for employers — especially small businesses, while ensuring unemployed New Yorkers receive substantially increased benefits that help them afford housing, groceries, and basic necessities during their job search. With today’s cost of living, these enhanced benefits make the difference between families staying afloat or falling behind. This action supports both workers facing hardship and creates an environment where businesses can grow and hire.”

    Empire State Development Board Chair Kevin Law said, “Governor Hochul’s leadership in paying off New York’s Unemployment Insurance Trust Fund debt is a major win for businesses and workers — on Long Island and across the state. This critical step delivers real financial relief to employers while strengthening benefits for those who need them most. By reducing costs and restoring stability to the fund, we’re creating the conditions for sustained growth, economic resilience, and job creation.”

    Long Island Association President and CEO Matt Cohen said, “The UI debt was one of the last lingering reminders of the economic toll of the Covid pandemic and so the LIA applauds Governor Hochul and the New York State Legislature for delivering this significant relief to our business community.”

    HIA-LI President and CEO Terri Alessi-Miceli said, “We are grateful to Governor Hochul and the State Legislature for eliminating this burden on New York’s employers. Business owners on Long Island and the state can see meaningful relief that lowers the cost of doing business and strengthens our economy.”

    Business Council of Westchester President and CEO Marsha Gordon said, “Replenishing the State’s Unemployment Insurance (UI) Fund has been one of the Business Council of Westchester’s (BCW) top legislative priorities. For years, businesses have shouldered the burden of paying over $5 billion dollars towards this debt, which was an added tax that significantly impacted their operations. The BCW applauds the governor’s leadership and commitment to extinguishing the UI debt, which will remove the serious negative impact that businesses across the state were facing.”

    Capital Region Chamber, and the Center for Economic Growth (CEG) President and CEO Mark Eagan said, “Paying off the $7 billion outstanding federal unemployment insurance trust fund loan is a huge win for businesses, large and small. By paying off this loan, the UI program’s financial stability will be restored, and employers will no longer be saddled with higher UI taxes. We are grateful to Governor Hochul and the state legislature for addressing this outstanding debt in the final budget.”

    Acting President and CEO of CenterState Syracuse Ben Sio said, “Across New York, small and mid-sized businesses will benefit from the important decision by Governor Hochul and the legislature to pay off New York’s nearly $7 billion unemployment insurance debt. For a small business, the thousands of dollars saved by the elimination of the mandatory UI surcharge to pay off this debt will translate into new investment into those businesses, new equipment or an added employee. Simply put, this is a win for New York’s economy.”

    Greater Rochester Chamber President and CEO Bob Duffy said, “Governor Hochul’s decision to use $8 billion to restore solvency to the State’s unemployment insurance trust fund will have significant impacts on every business in New York State, from mom-and-pop shops to major legacy corporations. We have heard directly from our members that this decision will save them tens of thousands of dollars each year — savings that can be used to grow, create jobs, and invest in New York State. At a time of much uncertainty for businesses, these savings help stabilize the business community and ensure New York State remains competitive. We applaud the Governor’s leadership on this issue, and are proud to have worked alongside her and our other partners to secure this well-deserved funding for our business and labor community.”

    Greater Utica Chamber of Commerce Executive Director Kari Puleo said, “Paying off the unemployment insurance debt is a game-changer for businesses across the Mohawk Valley. It eases the financial pressure our employers have been carrying since the pandemic and frees up resources to reinvest in their operations, their workforce, and their growth. It’s a meaningful step forward that strengthens our local economy and supports a brighter future for the region.”

    Greater Binghamton Chamber of Commerce President and CEO Stacey Duncan said, “Over the past four years, New York State employers have faced significant challenges due to an unpredictable business climate, coupled with significant Unemployment Insurance costs. After depleting its UI Trust Fund in 2020, the state borrowed $11 billion to cover pandemic-related claims, saddling employers with maximum UI rates and interest assessment surcharges, costing small businesses over $6 billion. We are deeply grateful to Governor Hochul and the Legislature for recognizing the urgency of this issue and taking meaningful steps to support and prioritize the needs of small businesses.”

    North Country Chamber of Commerce President Garry Douglas said, “Relief from this massive UI debt to the federal government caused by the pandemic was a top priority for business and we join in thanking Governor Hochul and legislative leaders for the full payback of almost $7 billion. This huge UI debt would otherwise have fallen on employers, including small business, through higher UI costs until paid off, even though the pandemic shutdowns and impacts were not their fault. This important and needed relief is highly welcome for all employers.”

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Construction Starts on DRI Project in Johnson City

    Source: US State of New York

    overnor Kathy Hochul today announced the start of construction on a $20 million mixed-use development at 435 Main Street in Johnson City as part of the Village’s $10 million Downtown Revitalization Initiative (DRI) award. The transformational project, which received nearly $1.2 million through the DRI, will create 55 new energy-efficient apartments and renovate 12,000 square feet of commercial space to support workforce training and educational expansion.

    “In order to attract and retain a growing workforce in our state, we need more housing. Period,” Governor Hochul said. “Johnson City is leading by example, transforming an underutilized historic high school into energy-efficient apartments and new space for workforce training opportunities. This kind of forward-thinking investment will support Johnson City’s vibrant downtown and strengthen the local economy for generations to come.”

    New York State Secretary of State Walter T. Mosley said, “This project is a shining example of how the Downtown Revitalization Initiative is transforming communities like Johnson City. With 55 new energy-efficient apartments underway, we’re addressing the growing demand for quality housing across New York State while breathing new life into a site with deep roots in the community. Combined with the expansion of workforce training opportunities, this investment will help attract and retain talent, strengthen the local economy, and support a vibrant downtown for generations to come.”

    This project is set to be one of the largest and most impactful DRI investments to date in Johnson City’s Innovation District and builds on previous state-funded revitalization efforts. Upon completion, this historically significant former high school will be transformed into a dense and vibrant campus of buildings in downtown Johnson City. This addition of 55 energy-efficient apartments will expand the region’s housing options, helping to attract and retain a talented workforce in Johnson City and Broome County. The 12,000-square-foot commercial space—formerly the Johnson City High School gymnasium—will be renovated to accommodate the expansion of Broome-Tioga BOCES’ program for practical nursing. The project will also feature enhanced landscaping and parking lot improvements to support the revitalized space.

    In addition to the $1.125 million provided by the DRI, the project also received $250,000 from Empire State Development through the Upstate Revitalization Initiative (Greater Binghamton Fund). Johnson City was named the Southern Tier winner of the sixth round of the DRI in 2023. Several additional DRI-funded projects are underway across the Village, including:

    • Construction of a new mixed-use project – Homesteads on Grand – at 333 Grand Avenue.
    • Renovating the mixed-use building at 214 Main Street.
    • New parks and streetscape improvements, building on previous Greater Binghamton Fund investments.

    Empire State Development President, CEO and Commissioner Hope Knight said, “The 435 Main Street project is yet another innovative example of how the Governor’s Downtown Revitalization Initiative is fueling the economic engines that support local communities and foster growth. This transformational project will create a dynamic space focused on creating next-generation housing opportunities in Johnson City, and provide a focused, workforce training and educational space that will benefit both current and future generations of Southern Tier residents.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Converting a century-old high school into 55 modern apartments with space dedicated to preparing a growing workforce, not only preserves a piece of Johnson City’s rich history—it creates new opportunities and incentives for residents to live in the heart of a burgeoning downtown. Housing is the bedrock of a strong economy and an essential component of Governor Hochul’s Downtown Revitalization Initiative, which is creating vibrant, walkable communities across New York. This cutting-edge $20 million project builds on more than 1,000 affordable homes we’ve created in Broome County in recent years, and provides a diverse mix of housing that is reshaping the Southern Tier.”

    State Senator Lea Webb said, “I’m proud to support the transformation of the former Johnson City High School through the Downtown Revitalization Initiative (DRI) and the Greater Binghamton Fund (GBF). This $250,000 investment will revitalize a long-vacant, historic property, bringing 55 energy-efficient, market-rate apartments and a cutting-edge facility for Broome-Tioga BOCES’ practical nursing program to the heart of Johnson City. This project reflects exactly the kind of smart, community-driven development we need: it strengthens our neighborhoods, expands access to education and career training, and helps build the skilled workforce essential to the future of Broome County.”

    Assemblywoman Donna Lupardo said, “I am thrilled to see the revitalization of the former Johnson City HS finally getting underway. We have watched this beautiful historic building for many years, hoping to see this type of adaptive reuse. With new housing and expanded space for BOCES, this project certainly reflects the goals of our Downtown Revitalization Initiative. I’d like to commend everyone involved for their commitment to the Village, and to bringing this wonderful structure back to life for residents and students alike.”

    Broome County Executive Jason Garnar said, “This project is a win on every level. Restoring these historic buildings will improve the neighborhood while addressing two major challenges, our health care workforce shortage, and the need for quality housing. We’re proud to support efforts that move Broome County forward on both fronts.”

    Johnson City Mayor Martin Meaney said, “The revitalization and transformation of 435 Main Street, “the old high school” into apartments and the BOCES School for Licensed Practical Nursing is a wonderful addition to our downtown. This project has been in the planning stages for a long time and we are very excited to see it come to fruition!”

    William H. Lane Incorporated President & Chief Executive Officer Mark Lane said, “As an adolescent working summers for my father, I frequently visited this property to have tools repaired at McKilligan Industrial Supply, which operated out of this very building. To return five decades later as its developer, and to have the opportunity to transform this historic structure into an educational facility for our essential nurses, as well as residential apartments, is profoundly meaningful. The privilege of preserving this piece of history and giving it renewed purpose has been one of the most rewarding experiences of my life.”

    BOCES District Superintendent Rebecca Stone said, “Thanks to the incredible support of our community partners, including UHS, Guthrie and Broome County, Broome Tioga BOCES is proud to expand our Licensed Practical Nursing program into a larger facility. This opportunity not only allows us to better serve our adult students, but also helps the critical need for a skilled healthcare professionals in our region.”

    The Agency Executive Director Stacey Duncan said, “This transformative project embodies the intersection of historic preservation, forward-looking development, and the power of public-private partnership. It serves as a catalyst for economic vitality by supporting both new housing development and critical workforce training.”

    In the FY2025 Enacted Budget, Governor Hochul made the “Pro-Housing Community” designation a requirement for cities, towns and villages to access up to $650 million in State discretionary programs, including the Downtown Revitalization Initiative and New York Forward. To date, more than 300 municipalities across the State have become certified. To further support localities that are doing their part to address the housing crisis, Governor Hochul created a $100 million Pro-Housing Supply fund for certified Pro-Housing Communities to assist with critical infrastructure projects necessary to create new housing, such as sewer and water infrastructure upgrades.

    About the Downtown Revitalization Initiative
    The DRI was launched in 2016 to accelerate and bolster the revitalization of downtowns and neighborhoods in all 10 regions of the State to serve as centers of activity and catalysts for increased local investments. Led by the Department of State, DRI communities benefit from partnerships with and coordinated technical assistance provided by the Department of Housing and Community Renewal (HCR), Empire State Development (ESD) and the New York State Energy Research & Development Authority (NYSERDA). The DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation. Through eight rounds, the DRI has awarded a total of $900 million to 91 communities across every region of the State.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI: Hawthorn Bancshares Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    JEFFERSON CITY, Mo., July 30, 2025 (GLOBE NEWSWIRE) — Hawthorn Bancshares, Inc. (NASDAQ: HWBK), (the “Company”), the bank holding company for Hawthorn Bank, reported second quarter 2025 net income of $6.1 million, or earnings per diluted share (“EPS”) of $0.88.

    Second Quarter 2025 Results

    • Net income improved $1.5 million, or 31.8%, to $6.1 million from the second quarter 2024 (the “prior year quarter”) and the efficiency ratio improved to 62.32% compared to 66.24% for the prior year quarter
    • EPS of $0.88, an improvement of $0.22 per share, or 33%, from the prior year quarter
    • Net interest margin, fully taxable equivalent (“FTE”) improved in the second quarter 2025 to 3.89% compared to 3.67% for first quarter 2025 (the “prior quarter”)
    • Provision for credit losses were $0.3 million higher than the prior quarter and $0.5 million lower than the prior year quarter
    • Return on average assets and equity of 1.36% and 15.85%, respectively
    • Loans decreased $7.4 million, or 0.5%, and deposits decreased $25.9 million, or 1.7%, compared to the prior quarter
    • Investments increased $2.8 million, or 1.2%, compared to the prior quarter
    • Credit quality remained strong with non-performing assets to total loans of 0.35% improving from 0.54% in the prior year quarter
    • Remained well capitalized with total risk-based capital of 15.12%
    • Book Value per share increased $2.83 to $22.53, or 14.3%, compared to the prior year quarter

    Brent Giles, Chief Executive Officer of Hawthorn Bancshares, Inc. commented, “As a team, during the second quarter, I am proud of what we accomplished towards our strategic goals. The contributions across the Bank truly embodied our “One Hawthorn” spirit. I am also pleased with our financial results for the second quarter. Managing our net interest margin in highly competitive markets and controlling expenses were top initiatives during the quarter. Our strong results reflect the focus on these areas.”

    (unaudited)
    $000, except per share data
     
      June 30,   March 31,   June 30,
        2025       2025       2024  
    Balance sheet information          
    Total assets $         1,877,417     $         1,883,423     $         1,847,810  
    Loans held for investment           1,462,898               1,470,323               1,498,504  
    Investment securities           229,392               226,581               191,159  
    Deposits           1,517,986               1,543,888               1,550,250  
    Total stockholders’ equity $         156,823     $         153,411     $         138,241  
               
    Market and per share data          
    Book value per share $         22.53     $         21.97     $         19.71  
    Market price per share $         29.14     $         28.23     $         19.80  
    Diluted earnings per share (QTR) $         0.88     $         0.77     $         0.66  


    Financial Results for the Second Quarter

    Earnings

    Net income for the second quarter 2025 was $6.1 million, an increase of $0.7 million, or 13.3%, from the prior quarter, and an increase of $1.5 million, or 31.8%, from the prior year quarter. EPS improved to $0.88 for the second quarter 2025 compared to $0.77 for the prior quarter and $0.66 for the prior year quarter.

    Net income for the six months ended June 30, 2025 was $11.5 million, or $1.65 per diluted share, an increase of $2.4 million compared to $9.1 million, or $1.29 per diluted share, for the six months ended June 30, 2024.

    Net Interest Income and Net Interest Margin

    Net interest income for the second quarter 2025 was $16.1 million, an increase of $0.8 million from the prior quarter, and an increase of $2.0 million from the prior year quarter. Net interest income for the six months ended June 30, 2025 was $31.4 million, an increase of $2.5 million compared to $28.9 million for the six months ended June 30, 2024.

    Interest income increased $0.4 million in the current quarter compared to the prior year quarter, driven primarily by higher rates on earning assets, while interest expense decreased $1.6 million compared to the prior year quarter due to lower costs on deposits. Net interest margin, on an FTE basis, was 3.89% for the current quarter, compared to 3.67% for the prior quarter, and 3.33% for the prior year quarter.

    The yield earned on average loans held for investment increased to 5.98%, on an FTE basis, for the second quarter 2025, compared to 5.89% for the prior quarter and 5.75% for the prior year quarter.

    The average cost of deposits was 2.35% for the second quarter 2025, compared to 2.44% for the prior quarter and 2.69% for the prior year quarter. Non-interest bearing demand deposits as a percent of total deposits was 27.7% as of June 30, 2025, compared to 27.7% and 25.9% at March 31, 2025 and June 30, 2024, respectively.

    Non-interest Income

    Total non-interest income for the second quarter 2025 was $3.5 million, an increase of $0.1 million, or 2.4%, from the prior quarter, and a decrease of $0.5 million, or 11.3%, from the prior year quarter. Non-interest income was consistent at $7.0 million for both the six months ended June 30, 2025 and 2024, respectively.

    Non-interest Expense

    Total non-interest expense for the second quarter 2025 was $12.3 million, a decrease of $0.2 million, or 1.8%, from the prior quarter, and an increase of $0.2 million, or 2.0%, from the prior year quarter. For the six months ended June 30, 2025, non-interest expense was $24.8 million, an increase of $0.2 million as compared to $24.6 million for the six months ended June 30, 2024.

    The second quarter 2025 efficiency ratio was 62.32% compared to 66.64% and 66.24% for the prior quarter and prior year quarter, respectively. The improvement in the current quarter compared to the prior quarter was primarily due to higher net interest margin and lower non-interest expenses in the current quarter.

    Loans

    Loans held for investment decreased $7.4 million, or 0.5%, to $1.5 billion as of June 30, 2025 compared to March 31, 2025, and decreased $35.6 million, or 2.4% annualized, from June 30, 2024.

    Investments

    Investments increased $2.8 million, or 1.2%, to $229.4 million as of June 30, 2025 compared to March 31, 2025, and increased $38.2 million, or 20.0%, from June 30, 2024.

    Asset Quality

    Non-performing assets to total loans was 0.35% at June 30, 2025, compared to 0.21% and 0.54% at March 31, 2025 and June 30, 2024, respectively. Non-performing assets totaled $5.2 million at June 30, 2025, compared to $3.1 million and $8.1 million at March 31, 2025 and June 30, 2024, respectively. The increase in non-performing assets in the current quarter compared to the prior quarter was the result of the Company closing an operational center and moving the property to other real estate owned.

    In the second quarter 2025, the Company had net loan charge-offs of $0.05 million, or 0.01% annualized, of average loans, compared to net loan charge-offs of $0.02 million, or 0.00% of average loans, and $1.98 million, or 0.53% annualized, of average loans, in the prior quarter and prior year quarter, respectively.

    The Company released provision for credit losses of $0.1 million for the second quarter 2025 compared to a release of provision of $0.3 million in the prior quarter, and providing a provision of $0.5 million for the prior year quarter.

    The allowance for credit losses at June 30, 2025 was $21.6 million, or 1.47% of outstanding loans, and 781.24% of non-performing loans. At March 31, 2025, the allowance for credit losses was $21.8 million, or 1.48% of outstanding loans, and 885.01% of non-performing loans. At June 30, 2024, the allowance for credit losses was $22.0 million, or 1.47% of outstanding loans, and 495.38% of non-performing loans. The allowance for credit losses represents management’s best estimate of expected losses inherent in the loan portfolio and is commensurate with risks in the loan portfolio as of June 30, 2025 as determined by management.

    Deposits

    Total deposits at June 30, 2025 were $1.5 billion, a decrease of $25.9 million, or 1.7%, from March 31, 2025, and a decrease of $32.3 million, or 2.1% annualized, from June 30, 2024. The decrease in deposits at June 30, 2025 as compared to June 30, 2024 was primarily a result of an decrease in savings, interest checking and money market accounts.

    Capital

    The Company maintains its “well capitalized” regulatory capital position. At June 30, 2025, capital ratios were as follows: total risk-based capital to risk-weighted assets 15.12%; tier 1 capital to risk-weighted assets 13.87%; tier 1 leverage 11.87%; and common equity to assets 8.35%.

    Pursuant to the Company’s Repurchase Plan, management is given discretion to determine the number and pricing of the shares to be purchased under the plan, as well as the timing of any such purchases. The Board Directors amended the plan on June 3, 2025 and approved increasing the authorized repurchase limit to $10 million. The Company repurchased 79,777 common shares under the repurchase plan during the first and second quarter of 2025 at an average cost of $27.62 per share totaling $2.2 million. As of June 30, 2025, $9.0 million remains available for share repurchases pursuant to the plan.

    On July 30, 2025, the Company’s Board of Directors approved a quarterly cash dividend of $0.20 per common share, payable October 1, 2025 to shareholders of record at the close of business on September 15, 2025.

    [Tables follow]

     
    FINANCIAL SUMMARY
    (unaudited)
    $000, except per share data
     
      Three Months Ended
      June 30,   March 31,   June 30,
    Statement of income information:   2025       2025       2024  
    Total interest income $         23,911     $         23,458     $         23,556  
    Total interest expense           7,769               8,164               9,384  
    Net interest income           16,142               15,294               14,172  
    (Release of) provision for credit losses           (51 )             (340 )             457  
    Non-interest income           3,545               3,463               3,996  
    Investment securities (losses) gains, net           (1 )             (2 )             (15 )
    Non-interest expense           12,269               12,499               12,034  
    Pre-tax income           7,468               6,596               5,662  
    Income taxes           1,367               1,213               1,033  
    Net income $         6,101     $         5,383     $         4,629  
    Earnings per share:            
    Basic: $         0.88     $         0.77     $         0.66  
    Diluted: $         0.88     $         0.77     $         0.66  
               
          Six Months Ended
          June 30,
    Statement of income information:       2025       2024  
    Total interest income     $         47,369     $         47,608  
    Total interest expense               15,933               18,688  
    Net interest income               31,436               28,920  
    (Release of) provision for credit losses               (391 )             227  
    Non-interest income               7,008               7,015  
    Investment securities losses, net               (3 )             (15 )
    Non-interest expense               24,768               24,609  
    Pre-tax income               14,064               11,084  
    Income taxes               2,580               1,999  
    Net income     $         11,484     $         9,085  
    Earnings per share:          
    Basic:     $         1.65     $         1.29  
    Diluted:     $         1.65     $         1.29  
     
    FINANCIAL SUMMARY (continued)
    (unaudited)
    $000
     
      As of or for the three months ended
      June 30,   March 31,   June 30,
       2025    2025    2024
    Performance Ratios          
    Return on average assets           1.36   %             1.20   %             1.02   %
    Return on average common equity           15.85   %             14.29   %             13.75   %
    Net interest margin (FTE)           3.89   %             3.67   %             3.33   %
    Efficiency ratio           62.32   %             66.64   %             66.24   %
               
    Asset Quality Ratios          
    Non-performing loans (a) $         2,761       $         2,461       $         4,437    
    Non-performing assets $         5,186       $         3,129       $         8,062    
    Net charge-offs $         51       $         (18 )     $         1,977    
    Net Charge-offs to Average Loans (b)           0.01   %             0.00   %             0.53   %
    Allowance for credit losses to total loans           1.47   %             1.48   %             1.47   %
    Non-performing loans to total loans           0.19   %             0.17   %             0.30   %
    Non-performing assets to loans           0.35   %             0.21   %             0.54   %
    Non-performing assets to total assets           0.28   %             0.17   %             0.44   %
    Allowance for credit losses on loans to non-performing loans           781.24   %             885.01   %             495.38   %
               
    Capital Ratios          
    Average stockholders’ equity to average total assets           8.56   %             8.42   %             7.40   %
    Period-end stockholders’ equity to period-end assets           8.35   %             8.15   %             7.48   %
    Total risk-based capital ratio           15.12   %             14.94   %             14.30   %
    Tier 1 risk-based capital ratio           13.87   %             13.69   %             12.94   %
    Common equity Tier 1 capital           10.82   %             10.64   %             10.02   %
    Tier 1 leverage ratio           11.87   %             11.64   %             10.94   %
     
    (a)   Non-performing loans include loans 90-days past due and accruing and non-accrual loans.
    (b)   Annualized


    About Hawthorn Bancshares

    Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank, which has served families and businesses for more than 150 years. Hawthorn Bank has multiple locations, including in the greater Kansas City metropolitan area, Jefferson City, Columbia, Springfield, and Clinton.

    Contact:

    Hawthorn Bancshares, Inc.
    Brent M. Giles
    Chief Executive Officer
    TEL: 573.761.6100
    www.HawthornBancshares.com

    The financial results in this press release reflect preliminary, unaudited results, which are not final until the Company’s Quarterly Report on Form 10-Q is filed. Statements made in this press release that suggest the Company’s or management’s intentions, hopes, beliefs, expectations, or predictions of the future include “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the Company’s quarterly and annual reports filed with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this communication, and the Company disclaims any obligation to update any forward-looking statement or to publicly announce the results of any revisions to any of the forward-looking statements included herein, except as required by law.

    The MIL Network –

    July 31, 2025
  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Takes Action to Address the Threat to National Security from Imports of Copper

    US Senate News:

    Source: US Whitehouse
    STRENGTHENING AMERICA’S COPPER INDUSTRY: Today, President Donald J. Trump signed a Proclamation to address the effects of copper imports on America’s national security, including by imposing tariffs on several categories of copper imports.
    The Proclamation imposes universal 50% tariffs on imports of semi-finished copper products (such as copper pipes, wires, rods, sheets, and tubes) and copper-intensive derivative products (such as pipe fittings, cables, connectors, and electrical components), effective August 1.
    The copper 232 tariffs apply to the copper content of a product; non-copper content of a product remains subject to reciprocal tariffs or other applicable duties. These tariffs do not stack.
    The copper 232 tariffs do not stack with auto 232 tariffs. If a product is subject to auto 232 tariffs, then the auto 232 tariffs apply, not the copper 232 tariffs. 
    Copper input materials (such as copper ores, concentrates, mattes, cathodes, and anodes) and copper scrap are not subject to 232 or reciprocal tariffs.

    The Proclamation directs the Secretary of Commerce to establish a product “inclusion” process to add copper derivative products to these tariffs.
    The President is also authorizing the Secretary of Commerce to take steps under the Defense Production Act to support the domestic copper industry, including:
    Requiring 25% of high-quality copper scrap produced in the United States to be sold in the United States. This will improve access to this important feedstock for domestic fabricators and secondary refiners.
    Commerce also recommended an export licensing requirement for high-quality copper scrap to ensure adequate domestic supply.

    Requiring 25% of copper input materials (such as copper ores, concentrates, mattes, cathodes, and anodes) produced in the United States to be sold in the United States – starting at 25% in 2027, increasing to 30% in 2028 and 40% in 2029. This will boost U.S. refining capacity by ensuring low-cost inputs while domestic refiners grow their operations.

    By taking these actions, President Trump is leveling the playing field for U.S. copper businesses to support a strong domestic copper industry.
    ADDRESSING THE EFFECTS OF COPPER IMPORTS: The Proclamation follows the Secretary of Commerce’s completion of a Section 232 investigation under the Trade Expansion Act of 1962, as amended.
    President Trump directed the initiation of the Section 232 investigation through Executive Order 14220 of February 25, 2025, “Addressing the Threat to National Security from Imports of Copper.” The investigation found that:
    Copper is essential to the manufacturing foundation on which U.S. national and economic security depend. Copper is a necessary input in a range of defense systems, including aircraft, ground vehicles, ships, submarines, missiles, and ammunition. It is the Department of Defense’s second-most used material, and it plays a central role in the broader U.S. industrial base.
    Foreign competitors’ predatory practices and excessive environmental regulations have undercut the American copper industry and domestic investment in smelting, refining, and fabrication facilities.
    The U.S. now has a massive trade deficit in, and an unsustainable dependence on, many foreign copper products.

    REVITALIZING DOMESTIC INDUSTRY AND REDUCING TRADE IMBALANCES: This Proclamation builds on previous actions taken by the Trump Administration to ensure U.S. trade and industrial policies serve the national interest.
    On Day One, President Trump established his America First Trade Policy to make America’s economy great again.
    President Trump signed Proclamations to close existing loopholes and exemptions and elevate tariffs on steel and aluminum to 50%.
    President Trump implemented a 10% additional tariff on imports from China in response to China’s role in the border crisis. 
    President Trump imposed reciprocal tariffs to take back America’s economic sovereignty and address nonreciprocal trade relationships that threaten our economic and national security.
    President Trump has issued several Executive Orders and Presidential Memoranda to boost mining, manufacturing, and investment in domestic industry, including by reducing regulations and eliminating bureaucracy.
    President Trump signed a Memorandum to safeguard American innovation, including the consideration of tariffs to combat digital service taxes, fines, practices, and policies that foreign governments levy on American companies.
    President Trump has initiated several other Section 232 investigations in addition to the one on which he is taking action today.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Addresses Threats to the United States from the Government of Brazil

    US Senate News:

    Source: US Whitehouse
    ADDRESSING A NATIONAL EMERGENCY: Today, President Donald J. Trump signed an Executive Order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, to deal with recent policies, practices, and actions by the Government of Brazil that constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.
    The Order declares a new national emergency using the President’s authority under the International Emergency Economic Powers Act of 1977 (IEEPA) and establishes an additional 40% tariff to address the Government of Brazil’s unusual and extraordinary policies and actions harming U.S. companies, the free speech rights of U.S. persons, U.S. foreign policy, and the U.S. economy.
    The Order finds that the Government of Brazil’s politically motivated persecution, intimidation, harassment, censorship, and prosecution of former Brazilian President Jair Bolsonaro and thousands of his supporters are serious human rights abuses that have undermined the rule of law in Brazil.
    USING LEVERAGE TO SAFEGUARD OUR INTERESTS: President Trump has consistently reaffirmed his commitment to defending the United States’ national security, foreign policy, and economy against foreign threats, including by safeguarding free speech, protecting U.S. companies from unlawful censorship coercion, and holding human rights abusers accountable for their lawless behavior.
    Recently, members of the Government of Brazil have taken unprecedented actions to tyrannically and arbitrarily coerce U.S. companies to censor political speech, deplatform users, turn over sensitive U.S. user data, or change their content moderation policies on pain of extraordinary fines, criminal prosecution, asset freezes, or complete exclusion from the Brazilian market. This undermines not only the viability of U.S. companies’ business operations in Brazil but also the policy of the United States in promoting free and fair elections and safeguarding fundamental human rights at home and abroad.
    For example, since 2019, Brazilian Supreme Court Justice Alexandre de Moraes has abused his judicial authority to threaten, target, and intimidate thousands of his political opponents, shield corrupt allies, and suppress dissent, often in coordination with other Brazilian officials, including other justices on Brazil’s Supreme Federal Court, to the detriment of U.S. companies operating in Brazil.
    Justice de Moraes has unilaterally issued hundreds of orders to secretly censor his political critics. When U.S. companies have refused to comply with these orders, he imposed substantial fines, ordered the companies’ exclusion from Brazil’s social media market, threatened their executives with criminal prosecution, and, in one case, froze the assets of a U.S. company in Brazil in an effort to coerce compliance.
    In fact, in addition to jailing individuals without trial for social media posts, Justice de Moraes is currently overseeing the Government of Brazil’s criminal prosecution of Paulo Figueiredo, a U.S. resident, for speech he made on U.S. soil, and has supported criminal investigations into other U.S. persons after they exposed his gross violations of human rights and corruption.

    President Trump is defending American companies from extortion, protecting American persons from political persecution, safeguarding American free speech from censorship, and saving the American economy from being subject to the arbitrary edicts of a tyrannical foreign judge.
    PUTTING AMERICA FIRST: By imposing these tariffs to address the Government of Brazil’s reckless actions, President Trump is protecting the national security, foreign policy, and economy of the United States from a foreign threat. In line with his election mandate, President Trump has also taken other actions to achieve peace through strength and ensure foreign policy reflects U.S. values, sovereignty, and security.
    On Day One, President Trump signed an “America First Policy Directive” to the Secretary of State that declared that the United States’ foreign policy must always put the interests of America and its citizens first.
    Consistent with this directive, on May 28, 2025, Secretary Rubio announced a visa restriction policy targeting foreign nationals responsible for the censorship of protected expression in the United States.
    Pursuant to that policy, on July 18, President Trump directed Secretary Rubio to revoke visas belonging to Justice de Moraes, his allies on the Court, and their immediate family members for their role in enabling Justice de Moraes’ human rights violations against Brazilians and free speech violations against Americans.
    Preserving and protecting the free speech rights of all Americans and defending American companies from coerced censorship will remain at the forefront of President Trump’s America First foreign policy strategy.
    President Trump has successfully used tariffs in the past to advance America’s interests and address other urgent national security threats and is doing so again today.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Fact Sheet: President Donald J. Trump is Protecting the United States’ National Security and Economy by Suspending the De Minimis Exemption for Commercial Shipments Globally

    US Senate News:

    Source: US Whitehouse
    TAKING DECISIVE ACTION GLOBALLY TO PROTECT AMERICANS: Today, President Donald J. Trump signed an Executive Order suspending duty-free de minimis treatment for low-value shipments, closing the catastrophic loophole used to, among other things, evade tariffs and funnel deadly synthetic opioids as well as other unsafe or below-market products that harm American workers and businesses into the United States.
    President Trump is taking action to deal with the national emergencies that he has recently declared with respect to unusual and extraordinary threats to the national security, foreign policy, and economy of the United States.
    Effective August 29, imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption will be subject to all applicable duties.
    For goods shipped through the international postal system, packages will instead be assessed duties according to one of the following methodologies:
    Ad valorem duty: A duty equal to the effective tariff rate imposed under the International Emergency Economic Powers Act (IEEPA) that is applicable to the country of origin of the product. This duty shall be assessed on the value of each package.
    Specific duty: A duty ranging from $80 per item to $200 per item, depending on the effective IEEPA tariff rate applicable to the country of origin of the product. The specific duty methodology will be available for six months, after which all applicable shipments must comply with the ad valorem duty methodology.  

    Longstanding exemptions under 19 U.S.C. 1321(a)(2)(A) and (B) remain in place – meaning American travelers can still bring back up to $200 in personal items and individuals can continue to receive bona fide gifts valued at $100 or less duty-free.
    COMBATTING ESCALATING DECEPTIVE SHIPPING PRACTICES, ILLEGAL MATERIAL, AND DUTY CIRCUMVENTION: President Trump is putting an end to the proliferation of shippers worldwide that, among other things, deceptively exploit the de minimis privilege in an effort to evade duties, inspection, and U.S. law.
    Packages entering the United States using the duty-free de minimis exemption are typically subject to less scrutiny than traditional imports; however, the packages can pose health, safety, national and economic security risks. 
    Between 2015 and 2024, the volume of de minimis shipments entering the U.S. increased from 134 million shipments to over 1.36 billion shipments. On average, CBP processes over 4 million de minimis shipments into the U.S. each day.
    The de minimis exemption has been abused, with shippers sending illicit fentanyl and other synthetic opioids, precursors, and paraphernalia into the United States in reliance on the lower security measures applied to de minimis shipments, killing Americans.
    Enforcement data consistently shows that de minimis shipments account for the majority of all cargo enforcement actions. In FY24, 90% of all cargo seizures originated as de minimis shipments, including:
    98% of narcotics seizures (by number of cases).97% of intellectual property rights seizures, totaling 31 million counterfeit items. 
    77% of health and safety/prohibited items seizures totaling more than 20 million dangerous or illicit items (e.g., weapons parts and Glock switches).

    The volume of de minimis shipments, even from countries that historically have not been the primary source of de minimis abuse, has skyrocketed this year, with 309 million so far for FY25 (through June 30), compared to 115 million for all of FY24 resulting in significant lost revenue for the United States.
    CBP is increasingly interdicting de minimis shipments where the certificate of origin is misrepresented in an attempt to circumvent duties.
    BUILDING ON A RECORD OF FIGHTING HARMFUL TRADE LOOPHOLES:   President Trump is delivering on his promise to “put an end” to the “big scam” of de minimis shipments killing Americans and hurting U.S. businesses.
    In February, President Trump declared national emergencies on the United States’ northern and southern borders, including the public health crisis caused by fentanyl and other illicit drugs.
    In April, President Trump declared a national emergency relating to the conditions underlying the United States’ exploding trade deficit and the implications of that deficit for the United States’ economy and national security.
    Effective May 2, President Trump suspended de minimis treatment for low-value packages from China and Hong Kong, which account for the majority of de minimis shipments to the United States.
    The President signed into law the One Big Beautiful Bill Act, which permanently repeals the statutory basis for the de minimis exemption worldwide effective July 1, 2027.
    President Trump is acting more quickly to suspend the de minimis exemption than the OBBBA requires, to deal with national emergencies and save American lives and businesses NOW.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Fact Sheet: The President’s Working Group on Digital Asset Markets Releases Recommendations to Strengthen American Leadership in Digital Financial Technology

    US Senate News:

    Source: US Whitehouse
    USHERING IN THE GOLDEN AGE OF CRYPTO: When President Trump took office in January, he promised to make America the “crypto capital of the world.” Today, the President’s Working Group on Digital Asset Markets is releasing a report that provides a roadmap to make that promise a reality.
    Established by President Trump’s Executive Order 14178 Strengthening American Leadership in Digital Financial Technology, the Working Group consists of officials throughout the Federal government and was tasked with submitting a report that recommends regulatory and legislative proposals to advance the policies established in the Order.
    By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Crypto.
    POSITIONING AMERICA AS THE LEADER IN DIGITAL ASSET MARKETS:The Working Group determined that a fit-for-purpose market structure framework is essential to support growth and innovation in the digital assets industry, protect consumers, and keep the United States at the forefront of digital asset development. The Working Group recommends that:
    Congress build on the massive bipartisan House of Representatives vote for CLARITY by enacting legislation that:
    Eliminates existing gaps in regulatory oversight by providing the CFTC authority to oversee spot markets for non-security digital assets.
    Embraces DeFi technology and recognizes the potential of integrating such technology into mainstream finance.

    The SEC and CFTC use their existing authorities to:
    Immediately enable the trading of digital assets at the Federal level by providing clarity to market participants on issues such as registration, custody, trading, and recordkeeping.
    Allow innovative financial products to reach consumers without bureaucratic delays through the use of tools like safe harbors and regulatory sandboxes.  

    MODERNIZING BANK REGULATION FOR DIGITAL ASSETS: The Trump Administration has already ended Operation Choke Point 2.0 once and for all by working to end regulatory efforts that deny banking services to the digital assets industry. A sound and predictable banking regulatory framework that embraces the promise of blockchain technology will allow depository institutions to meet customer demand for core banking services for digital assets, and make it easier for those customers to access digital asset markets. The Working Group recommends that regulators take additional actions to:
    Relaunch crypto innovation efforts to clarify permissible bank activities in custody, tokenization, stablecoin issuance, and the use of blockchains.
    Promote transparency regarding the process for institutions to obtain bank charters or Reserve Bank master accounts.
    Ensure that bank capital rules are aligned with the actual risks associated with digital assets, not simply the fact of their presence on a distributed ledger.
    STRENGTHENING THE ROLE OF THE U.S. DOLLAR: The widespread adoption of dollar-backed stablecoins will modernize payments infrastructure and allow the United States to move away from costly and outdated legacy systems. On July 18, 2025, President Trump signed the historic GENIUS Act into law, which creates the first-ever Federal regulatory framework for stablecoins. The Working Group recommends that:
    Treasury and the banking agencies faithfully and expeditiously implement the GENIUS Act.
    Congress take additional action to protect privacy and civil liberties by passing the Anti-CBDC Surveillance State Act to codify the provisions of the President’s Executive Order banning Central Bank Digital Currencies in the United States.
    COMBATING ILLICIT FINANCE IN THE DIGITAL AGE: By modernizing our anti-money laundering rules, the United States can be a leader in financial innovation while protecting our national security interests. The Working Group recommends that:
    Treasury and the appropriate regulators provide clarity regarding BSA obligations and reporting.
    Congress reinforce the importance of self-custody and clarify the AML/CFT obligations of actors within the decentralized finance ecosystem.
    Regulators work to prevent the misuse of authorities to target lawful activities of law-abiding citizens and protect citizens’ privacy.
    ENSURING FAIRNESS AND PREDICTABILITY IN DIGITAL ASSET TAXATION: Our tax rules must align with new technologies and eliminate compliance hurdles for both individuals and businesses engaged in activities involving digital assets. The Working Group recommends that:
    Treasury and the IRS reduce burdens on taxpayers by publishing guidance on topics related to CAMT, wrapping transactions, and de minimis receipts of digital assets.
    Treasury and the IRS review previously issued guidance on the tax treatment of activities like mining and staking.
    Congress enact legislation that treats digital assets as a new class of assets subject to modified versions of tax rules applicable to securities or commodities for Federal income tax purposes and add digital assets to the list of assets subject to wash sale rules.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Remarks on the President’s Working Group Recommendations

    Source: Securities and Exchange Commission

    The policy recommendations that the President’s Working Group (PWG) put forth today follow months of deep collaboration across agencies and perspectives. Together, we have developed a blueprint to achieve President Trump’s vision of making America the crypto capital of the world.

    At its core, the PWG report reflects a conviction that I have long held: a rational regulatory framework for digital assets is the best way to catalyze American innovation, protect investors from fraud, and keep our capital markets the envy of the world. Unfortunately, my predecessor and the previous Administration did not share that vision. Thank goodness President Trump does and is leading on it. As the report makes clear, the SEC will continue to play a key role in developing a federal framework by using its existing authorities to establish new rules and regulations, and to implement any new legislation crafted by Congress. I look forward to pursuing these priorities alongside Commissioner Hester Peirce, members of my staff, and the SEC’s Crypto Task Force. I also appreciate the report’s call for enhanced collaboration between the SEC and the CFTC, as well as with other relevant federal agencies, to ensure that our approach is unified, clear, and consistent.

    The goals that we have outlined are ambitious, and essential, to meeting the possibilities of this moment. We must unleash the transformative potential of digital asset technology, safeguard our financial stability, and protect investors. In line with this report, I will continue to prioritize the development of forward-thinking and future-proof regulations that foster innovation while mitigating risks.

    Today marks yet another important milestone in unlocking American innovation by providing the crypto marketplace with clear rules of the road. I support the PWG’s recommendations and applaud President Trump on his leadership as we ensure that the U.S. is the best and most secure place in the world to invest and to do business.

    The President said last week that he wants “the entire world running on the backbone of American technology.” Indeed, America must do more than keep pace with the crypto asset revolution—we must lead it. I stand ready to help get the job done.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: President Trump Signs Van Orden Bill to Reduce Veterans Homelessness Into Law

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Today, President Trump signed Congressman Derrick Van Orden’s (WI-03) VA Home Loan Program Reform Act into law.

    This legislation establishes a permanent partial claims program within the VA Home Loan Program, bringing VA in line with other federal agencies that lend money for homes and replacing the fiscally irresponsible Biden administration-era VASP program. Veterans will be permitted to have the same programs non-veterans have available to them through FHA loans, allowing veterans who have fallen behind on their mortgages to receive federal assistance.

    “President Trump is the strongest support of veterans and servicemembers of any president in our nation’s history,” said Rep. Van Orden. “This law helps fulfill a promise to those who protected us with their service and continue to do so today by providing a path to maintain homeownership. I am very proud of our legislation and thankful to President Trump for signing it into law.”

    “Our veterans and their families should have every tool at their disposal to keep their homes and reduce the risk of foreclosure if they fall into financial hardship or endure a national disaster. Today, House Republicans and President Trump made that a reality for every veteran homeowner,” said Chairman Bost.“Rep. Van Orden’s VA Home Loan Program Reform Act will modernize the VA Home Loan to meet veterans’ needs and reduce the risk of veteran homelessness. I’m proud that we fought hard to get this good bill to President Trump’s desk to keep our promise to those who have served.”

    Read the full bill here.

    ###

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI United Kingdom: PM meeting with the Sultan of Oman: 30 July 2025

    Source: United Kingdom – Government Statements

    Press release

    PM meeting with the Sultan of Oman: 30 July 2025

    The Prime Minister welcomed the Sultan of Oman, His Majesty Sultan Haitham bin Tarik al Said, to Downing Street today.

    The Prime Minister welcomed the Sultan of Oman, His Majesty Sultan Haitham bin Tarik al Said, to Downing Street today.

    The leaders began by discussing the horrific scenes of hunger and devastation in Gaza and agreed this cannot continue. They reiterated the call for significant volumes of aid to urgently reach the people in Gaza and the Prime Minister confirmed UK support for Jordanian air drops to deliver aid swiftly to Gaza’s most vulnerable.

    The Prime Minister updated His Majesty on his conversations with other leaders in recent days, and both agreed on the need for a longer-term peace plan, which includes a pathway to recognition. They both reiterated the need for Hamas to release all hostages, disarm and sign up to a ceasefire, and accept that they will play no role in the future of Gaza.

    On Iran, the Prime Minister thanked His Majesty for Oman’s continued efforts to reach a diplomatic solution to avoid a return to conflict and ensure peace and security in the region.

    The leaders also discussed the ongoing UK-Gulf Cooperation Council (GCC) trade talks, and the Prime Minister outlined the huge potential for the UK economy and British businesses through this trade deal. They agreed to further collaboration between the UK on Oman in areas such as energy, technology, defence and security.

    They agreed to keep in touch.

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    Published 30 July 2025

    MIL OSI United Kingdom –

    July 31, 2025
  • MIL-OSI USA: Statement on the President’s Working Group Recommendations

    Source: Securities and Exchange Commission

    The policy recommendations that the President’s Working Group (PWG) put forth today follow months of deep collaboration across agencies and perspectives. Together, we have developed a blueprint to achieve President Trump’s vision of making America the crypto capital of the world.

    At its core, the PWG report reflects a conviction that I have long held: a rational regulatory framework for digital assets is the best way to catalyze American innovation, protect investors from fraud, and keep our capital markets the envy of the world. Unfortunately, my predecessor and the previous Administration did not share that vision. Thank goodness President Trump does and is leading on it. As the report makes clear, the SEC will continue to play a key role in developing a federal framework by using its existing authorities to establish new rules and regulations, and to implement any new legislation crafted by Congress. I look forward to pursuing these priorities alongside Commissioner Hester Peirce, members of my staff, and the SEC’s Crypto Task Force. I also appreciate the report’s call for enhanced collaboration between the SEC and the CFTC, as well as with other relevant federal agencies, to ensure that our approach is unified, clear, and consistent.

    The goals that we have outlined are ambitious, and essential, to meeting the possibilities of this moment. We must unleash the transformative potential of digital asset technology, safeguard our financial stability, and protect investors. In line with this report, I will continue to prioritize the development of forward-thinking and future-proof regulations that foster innovation while mitigating risks.

    Today marks yet another important milestone in unlocking American innovation by providing the crypto marketplace with clear rules of the road. I support the PWG’s recommendations and applaud President Trump on his leadership as we ensure that the U.S. is the best and most secure place in the world to invest and to do business.

    The President said last week that he wants “the entire world running on the backbone of American technology.” Indeed, America must do more than keep pace with the crypto asset revolution—we must lead it. I stand ready to help get the job done.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI Asia-Pac: Remarks at press conference on “Report on Hong Kong’s Business Environment: Unique Strengths under ‘One Country, Two Systems’” (with photos/video)

    Source: Hong Kong Government special administrative region – 4

         The Financial Secretary, Mr Paul Chan; the Secretary for Commerce and Economic Development, Mr Algernon Yau; and the Acting Government Economist, Dr Cecilia Lam, held a press conference on the “Report on Hong Kong’s Business Environment: Unique Strengths under ‘One Country, Two Systems’” this afternoon (July 30). Following are their remarks:

    Reporter: I have some questions. First of all, this report seems that it is a wrapping up of all the measures over the past few years. So, what is the significance of this report to Hong Kong’s future development? Also, amid the rising challenges such as the tariff increases, how are you going to convince foreign chambers or investors to invest in Hong Kong? The last question is about the reports of the developer of 11 Skies of the Airport City project, with some reports saying that the developer has intended to sell this mega project, because of lack of tenants and also lacklustre prospects. So what is your take on the proposal of selling 11 Skies to other parties? Thank you.
     
    Financial Secretary: Thank you. First, the significance of this report. Over the past few years, because of COVID, a lot of overseas visitors didn’t have the opportunity to visit Hong Kong. Given the geopolitical landscape, there has been some misperception about the situation of Hong Kong in the western world. . We are trying very hard to reach out to the international community, to explain to them what is really happening here in Hong Kong by sharing facts and data. The purpose of this report is to recap our developments in a concise report for distribution to them, and this report will be made available online, accessible to anyone who is interested.
     
         On the question of tariffs, on the question of the China-US geopolitical tension, of course, there are challenges, for example, in terms of exports, but there are also opportunities in respect of the international financial centre status of Hong Kong. For challenges on export, the direct impact is minimal because Hong Kong is basically a service economy; we don’t have much manufacturing. On the other hand, the indirect impact could be significant, because we re-export for the Mainland. But over the years, we have seen a number of trends. One of them is Mainland companies realigning their industry bases and supply chains across Southeast Asia. For exports to certain markets, such as the US, a lot of the exports come from those regions. When you look at the figures – the export figures from the Mainland to the US, or from the Mainland via Hong Kong to the US – the share of US in Mainland’s total export has been declining.
     
         From our standpoint, we are adjusting our position. In addition to doing re-export, we have shifted to provide high-value supply chain management and the related trade finance and professional services. That is our response. For opportunities, I think we should not underestimate them. Given the geopolitical landscape, it is increasingly difficult for Mainland companies to go to the US for listing. These companies, would naturally want to come to Hong Kong for listing, because by coming to Hong Kong, they can access both international and Mainland capital. This is a very interesting value proposition to them, and has been demonstrated by the figures so far this year. In fact, we have over 200 companies in the pipeline waiting for listing. But the opportunities are more than the IPO market. Say in asset and wealth management, residents in the GBA (Guangdong-Hong Kong-Macao Greater Bay Area) are interested in having certain assets allocated offshore. Naturally, Hong Kong is the destination. The recent improvement in February last year to the GBA Wealth Management Connect – with the implementation of those measures, we have seen significant inflow of capital from the GBA into Hong Kong. In addition, we also have observed capital flow from the Middle East and ASEAN in the asset and wealth management sector. We are quite confident that, by the year 2027 and 2028 the latest – we will overtake Switzerland in cross-border wealth management.

         Another dimension is Hong Kong’s role as a “super connector” and “super value-adder” under the current geopolitical situation. We have observed Mainland companies’ keen interest to go global. First, this is national policy, i.e. high-level two-way opening up. Second, there is also a need, because these companies want to utilise the production capacity they have and do more exports. What we have been pitching to them is that the best way to do it is to come to Hong Kong, set up a company, use Hong Kong as a platform  as well as a brand to go overseas. In our experience in engaging the Middle East and ASEAN, the value of the “Hong Kong brand” is very much respected. This is one way in which we can help them. In the process, Our professional services and other service providers will benefit.
     
         Finally, on 11 Skies, I won’t comment on individual projects. But overall, the attitude of the Government is that, given the economic transition, and given the challenges currently in the non-domestic property market, banks should be supportive to their clients and help them ride through challenges. In the Hong Kong Monetary Authority, HKMA, a working group has been set up between the Hong Kong Association of Banks and the HKMA. This working group deals with individual cases with a view to helping the communication between the banks and borrowers, so that the lenders can extend a more accommodative and facilitative approach to help borrowers who have a viable business model and have a genuine interest in carrying on their business, but are just facing a liquidity crunch. That is the overall attitude of the Government. Thank you.
     
    Reporter: Hi Mr Chan. So, I just want to follow up on the previous question first. So what’s the significance of issuing the report now, like after the previous issuance of four years ago? Like, why does the Government choose to issue the new report at present? And also, you mentioned a lot of positive signs in the markets, like the stock markets booming, and Hong Kong also saw a record capital inflows in the first half of the year. So why does the Government still remain quite conservative over an uptick of the annual GDP (Gross Domestic Product) growth target for the whole year? And also, how do you see the sustainability of such momentum moving forward? And second question I also want to ask about four sectors that are facing structural changes, like you mentioned, to the retail and catering. Do you see the need to further enhance the support measures besides helping them achieve digital transformation? And finally, about the tariff truce, so the Chinese and US (United States) officials just reached agreements to extend their tariff suspension. So how do you assess the impacts on local business, and would the Government take any steps to help, perhaps exports or local businesses to take this opportunity? Thank you.
     
    Financial Secretary: Thank you. Well, the last report was published in 2021. Over the past few years, because of COVID, a lot of overseas travellers hadn’t come to Hong Kong. Given the geopolitical landscape, the perception about Hong Kong in the Western world is not entirely factual and correct. There are some misconceptions. So the purpose of this report is to show to them the current situation in Hong Kong, so that they will be able to better understand what is happening in this city. If they are interested, they are welcome to visit us to see for themselves what it is really like here and the tremendous opportunities available.
     
         As regards the question about the GDP estimate for the whole year, the GDP growth for the first half of this year has been positive. For the first quarter, the growth was 3.1 per cent; for the second quarter, we have maintained the momentum. But given the geopolitical landscape, there are enormous uncertainty and volatility. At this stage, we think it would be prudent to keep the current GDP estimate. There is in fact a mechanism, a defined timetable for reviewing the GDP estimate regularly. On a published timeline, the Government Economist will share with the community the economic situation, and determine at that time whether to make any revision. It’s better to follow that established practice as it provides certainty to the market.
     
         As to supporting the retail and catering sector, we will keep an open mind. I have elaborated on the situation and how we have been trying to help, but we will continue to closely monitor the situation and if necessary, roll out measures. At this stage, we think the current support measures should stay. Let us observe for a longer time. We have been providing various support measures such as the BUD Fund (Dedicated Fund on Branding, Upgrading and Domestic Sales) for marketing development and e-commerce.  Algernon would share more about that.
     
    Before passing to Algernon, I would say the recent discussions leading to the temporary suspension of tariff rise is, of course, a positive sign. But on the other hand, we are conscious of the fact that things can change overnight. There is still tremendous uncertainty, and consequently, volatility. So for our work, first, we need to ensure financial stability and financial security. On the other hand, stay on course, focus on what we have set out to do, and be persistent with our efforts. That includes reinforcing our relationship with traditional markets like Europe and the US, and at the same time, opening up new markets and new capital sources from the Middle East and Southeast Asia. Thank you, Algernon please.
     
    Secretary for Commerce and Economic Development: Regarding the challenges facing the retail and food and beverage sectors, we have different measures and funding helping the retail sector, such as the BUD Fund. We are also encouraging the sectors to look for changes and transformation, and e-commerce is one of the measures that we promote. Just today, we are going to launch the Hong Kong Shopping Festival for cross-border e-commerce to allow the retail sector to do more e-commerce business. For the maximum cumulative funding of $7 million per enterprise under the BUD Fund, they can apply for $1 million for e-commerce business to arrange for promotion and advertising for e-commerce business across the border.
     
    There are also measures to encourage tourists to come to Hong Kong. Actually, the number of tourists coming to Hong Kong is increasing. It is a positive sign that would help the retail sector. But most importantly, as mentioned by the Financial Secretary, it is time for transformation. We have to look at customer behaviour and their needs, and how we can satisfy customer demand. It is one of the major issues that we have to jointly resolve with enterprises. I have met with different chambers and associations of the retail sector. We had very good discussions on helping them to tackle the challenging situation. As mentioned by the Financial Secretary, we will keep an open mind to look at the situation and to see whether there is a need to introduce further measures to help the retail and food and beverage sectors. Thank you.
     
    Financial Secretary: We should be very confident in Hong Kong’s attractiveness as a hub for foreign businesses and talent. Over the past few years, I’ve been travelling a lot and also heavily engaged with the foreign business community in Hong Kong. I can summarise three key reasons why people should choose Hong Kong. First is, of course, for business reasons. Hong Kong has the proximity and sometimes priority access to the Mainland market. Depending on which sector you are in – if you are in the tech sector, say in the biotech sector, Hong Kong has an additional advantage because of our proximity to Shenzhen, and we are part of the GBA (Guangdong-Hong Kong-Macao Greater Bay Area) which is a technology hub. The Shenzhen-Hong Kong-Guangzhou cluster is very competitive in innovation.
     
        Apart from that, it is the capital market and the full range of funding options available here. For companies at different development stages, whether they are start-ups or others, we welcome them. In Hong Kong, we have around 4,700 start-ups, and the number represents a significant increase compared to that a few years ago. About 20 per cent of their founders come from overseas, and they come here for funding, professional advice, mentoring, and opportunities. In my discussions with the start-ups in Hong Kong Science Park and Cyberport, they value these as well as the innovation ecosystem very much. For start-ups, what they need are application scenarios, professional advice and funding support, and they are all available here. In Hong Kong, we have set up the Hong Kong Investment Corporation Limited, which provides patient capital. This means that if enterprises are engaged in cutting-edge technologies, we are willing to support them from small, and help them grow and connect them with fund managers to raise funds.
     
    The second reason is for their families and children. It is well recognised Hong Kong’s law and order is excellent. We are a very safe city. Education here is also outstanding. Moreover, this is an open and multicultural society, and it is very free. We have gathered a lot of overseas professionals and foreign businessmen here.
     
    Finally, it is about our lifestyle. Whether it is city life, F&B (food and beverage) or our countryside. So with all these, I think if we play our cards right, Hong Kong’s opportunities in the future are tremendous. Thank you for attending this conference. I appreciate your time. Thank you.
     
    (Please also refer to the Chinese portion of the remarks.)

            

    MIL OSI Asia Pacific News –

    July 31, 2025
  • MIL-OSI Europe: Written question – Access to the technologies and intellectual property rights of third-country participants in projects funded by the European Defence Fund – E-003012/2025

    Source: European Parliament

    Question for written answer  E-003012/2025
    to the Commission
    Rule 144
    Marc Botenga (The Left)

    Investigate Europe and Reporters United have revealed that the European Defence Fund is subsidising Intracom Defense, a Greek company. However, according to Intracom’s financial reports, since 2023 it has actually been controlled by Israel Aerospace Industries (IAI), an Israeli state-owned company, which holds 94.5 % of its shares and 100 % of its voting rights[1].

    The technologies and results of EU projects could thus end up in the hands of a government-owned company of a third country. The Commission’s response was that the projects could not be controlled by, or transferred to, a third-country government, neither while they were in progress nor after they had ended[2].

    • 1.Does this ban apply to non-EU public companies, such as IAI, which are owned or controlled by the government of a third country?
    • 2.Intracom is currently developing technologies as part of the ACTUS project. Given that Intracom is controlled by IAI, a non-EU state-owned company, can the Commission guarantee that the latter has absolutely no access to the technologies developed, and if so, how is it able to give that guarantee?
    • 3.Who will own the intellectual property rights for the results of the ACTUS project?

    Submitted: 18.7.2025

    • [1] https://www.investigate-europe.eu/posts/european-defence-fund-millions-benefiting-israeli-state-owned-drone-manufacturer
    • [2] https://agenceurope.eu/fr/bulletin/article/13657/18
    Last updated: 30 July 2025

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Europe: Written question – Commission action to immediately compensate livestock farmers and address the economic impact of sheep pox – P-003129/2025

    Source: European Parliament

    Priority question for written answer  P-003129/2025
    to the Commission
    Rule 144
    Dimitris Tsiodras (PPE)

    Outbreaks of sheep pox are increasing significantly, affecting livestock farmers in many regional units of Greece, such as Aetolia-Acarnania, Larissa, Rhodope, Magnesia, Florina, Phocis and Xanthi.

    By way of illustration, 25 out of the 42 new outbreaks were recorded in the two prefectures of Thessaly (representing 60 % of all cases), while it is estimated that 35 000 sheep have been killed in the municipality of Kileler alone.

    It should be noted that since the first cases appeared, 638 outbreaks have been reported and 148 285 sheep and goats have been killed.

    This irreparably affects the income of livestock farmers and producers and the economic viability of entire regions.

    In light of the above, can the Commission say:

    • 1.What action will it take and what mechanisms will it activate to provide urgent financial support to the affected livestock farmers in order to cover their lost income?
    • 2.Does it intend to provide compensation for the affected farmers for the dead animals in accordance with the provisions of the Common Agricultural Policy? If so, how much?
    • 3.Is it looking into the reactivation of measure 5.2 with a view to fully replacing animal stocks and strengthening the resilience of the sector?

    Submitted: 29.7.2025

    Last updated: 30 July 2025

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Europe: Spain: Regional Resilience Fund provides €230 million to finance agreement signed by EIB with A&G and Urbania Alpha to promote affordable housing, urban development and sustainable tourism

    Source: European Investment Bank

    EIB

    • The two financing agreements have been signed thanks to the backing of the Regional Resilience Fund financed by NextGenerationEU and implemented by the Spanish Ministry of Economy, Trade and Enterprise with EIB support.
    • The EIB will allocate €130 million to A&G and €100 million to Urbania Alpha (which holds the AEXX Capital brand) for investments throughout Spain.
    • These agreements mark a further step forward in rolling out the Regional Resilience Fund – specifically the instrument designed to promote urban development and sustainable tourism – with €640 million already signed to support investments under this instrument.

    The European Investment Bank (EIB) has signed agreements with A&G and Urbania Alpha (which holds the AEXX Capital brand) to channel a total of €230 million to new urban development projects (including those promoting affordable housing) and others related to sustainable tourism.

    The agreements were made possible by a contribution from the Regional Resilience Fund, part of Spain’s Recovery, Transformation and Resilience Plan, and financed by NextGenerationEU. More specifically, this was facilitated by the new instrument launched by the EIB to channel financing via financial intermediaries. Thanks to this instrument, agreements totalling €640 million have already been signed to back investments in urban development and sustainable tourism.

    As with the first agreements signed by the EIB under this instrument, A&G Banco and Urbania Alpha/AEXX Capital will assess investment opportunities across the country to promote projects in areas such as affordable housing, education, healthcare, social and cultural infrastructure, sustainable mobility, waste and water management, energy efficiency and sustainable tourism.

    A&G has been allocated €130 million by the EIB, which it will channel through A&G Real Estate Sustainable Developments, SICC SA. Urbania Alpha/AEXX Capital has been allocated €100 million to be channelled through AEXX Impact Investments I, SICC SA. Both are regulated vehicles set up specifically for this purpose. A&G will invest in equity, while Urbania Alpha/AEXX Capital will finance projects through equity and loans, or a combination of both. The maximum allocation per project is €22 million while maximum recovery periods are 15 years for equity investments and 20 years for debt. The investment period runs until December 2030.

    “With these two new financing agreements, the EIB continues to accelerate the deployment of the Regional Resilience Fund while boosting investment in urban development, affordable housing, and sustainable tourism in Spain. Public-private partnerships—such as those signed today with A&G and Urbania Alpha/AEXX Capital—help unlock the capital needed to make housing more accessible, foster an environmentally responsible tourism model, and adapt our cities to the evolving needs of citizens.” said EIB Director General – Head of Lending and Advisory Operations within the European Union Jean-Christophe Laloux

    “The signing of these agreements consolidates the implementation of the Regional Resilience Fund’s intermediated instrument, extending its scope to new specialised financial intermediaries. This is an important step in continuing to channel European funding towards projects with a real impact in key areas such as affordable housing, urban regeneration and sustainable tourism,’ said Inés Carpio, Director General of International Financing at the Treasury, Spanish Ministry of Economy, Trade and Enterprise

    Alejandro Nuñez, Managing Partner of Alternative Investments at A&G added, “We appreciate the trust placed in us by an investor of such exceptional prestige as the EIB to mobilize a significant portion of the Regional Resilience Fund. We believe that A&G is in a privileged position to manage public-private capital that effectively contributes to urban regeneration and sustainable tourism projects in Spain. Over the last few years, A&G has managed to create a highly regarded real estate investment platform in Spain. The mandate granted by the EIB gives us the opportunity to channel key resources into promoting affordable rental housing, while also supporting sustainable initiatives and local job creation.”

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

    All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024. This financing is contributing to the country’s green and digital transition, economic growth, competitiveness and improved services for residents.

    High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

    Regional Resilience Fund

    The Regional Resilience Fund (RRF) was created to facilitate access to NextGenerationEU loans from the Spanish Recovery, Transformation and Resilience Plan for the autonomous communities, with the aim of boosting investments and developing projects in eight priority areas: social and affordable housing; urban renewal; transport and sustainable tourism; the energy transition; water and waste management; the care economy; research, development and innovation; and the competitiveness of industry and SMEs.

    The fund is led by the Ministry of Economy, Trade and Enterprise, which takes input from the autonomous communities and cities for investment decision-making and looks to the EIB Group as a strategic management partner.

    The initial phase of the RRF includes the activation of up to €3.4 billion in financing via:

    • a direct financing mechanism, to co-finance EIB-supported operations in sectors like renewable energy, clean transport and sustainable infrastructure;
    • an intermediated mechanism managed by financial intermediaries selected by the EIB, to support projects in urban development and sustainable tourism;
    • two instruments intermediated by the European Investment Fund that will facilitate SME financing for innovation, sustainability and competitiveness.

    About A&G and A&G Global Investors

    A&G was founded in 1987 and is a leading independent financial services group with offices in Spain and Luxembourg. At the end of June 2025, the group’s total assets under management (AuMs) exceeded €15.5 billion. The group’s capabilities in alternative investments are focused on real estate, energy transition (with strategies dedicated to investing in infrastructure assets and growing technology companies) and private equity investments, grouped under the A&G Global Investors brand.

    www.aygglobalinvestors.com

    Urbania Alpha/AEXX Capital

    Urbania Alpha/AEXX Capital is a European alternative asset management platform. The firm provides debt, equity, and hybrid capital solutions to address a broad range of financing needs for real asset owners. To execute this strategy, AEXX has developed deep geographic and asset-class expertise across European markets through its offices in Spain, Italy, the UK, Germany, and Portugal.

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Europe: Written question – Pandemic reaction time – E-002971/2025

    Source: European Parliament

    Question for written answer  E-002971/2025
    to the Commission
    Rule 144
    Moritz Körner (Renew)

    Following the outbreak of the COVID-19 pandemic, the European Union provided financial support to Member States facing exceptional circumstances beyond their control.

    The World Health Organization declared COVID-19 a global pandemic on 11 March 2020. In response, the EU introduced two major instruments: the SURE instrument, to support Member States in protecting employment, and NextGenerationEU (NGEU), as a broader recovery instrument.

    The Commission proposed the SURE instrument on 2 April 2020, 23 days after the outbreak was declared a pandemic, and NGEU on 27 May 2020, 78 days after the pandemic declaration.

    In the Commission’s view, what is the maximum amount of time, in line with the Treaties, that may elapse between the outbreak of any exceptional crisis and the provision of financial support to respond to that crisis?

    Submitted: 17.7.2025

    Last updated: 30 July 2025

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Europe: Written question – Pending EU infringement proceedings that the Sicily Region is involved in and the EU sanctions it is shouldering – E-002903/2025

    Source: European Parliament

    Question for written answer  E-002903/2025
    to the Commission
    Rule 144
    Giuseppe Antoci (The Left)

    Article 258 TFEU provides for infringement proceedings against a Member State that does not comply with EU legislation.

    The cost of the financial penalties imposed by the Court of Justice of the European Union is indirectly borne by citizens and territories, effectively restricting their rights.

    Italy is among the Member States with the highest number of open infringement proceedings, a number of which specifically involve the Sicily Region and come with hefty financial sanctions.

    However, neither the Sicily Region’s official website[1] nor that of the competent Italian ministry provide a comprehensive and transparent list of the pending EU infringements and sanctions involving Sicily.

    The principle of transparency and the citizens’ right to information are laid down in the Treaty on European Union (TEU)[2], which provides for the active involvement of civil society in monitoring the implementation of EU law.

    Information on infringements and sanctions is crucial in enabling citizens to pressure regional and national institutions to take the measures needed to comply with EU law in a timely manner.

    In the light of the above:

    • 1.Could the Commission reveal all the pending infringement proceedings which the Sicily Region is party to, all the sanctions that have already been applied to Italy as well as their total value, which represents a burden for the region?
    • 2.How does the Commission assess the current level of transparency and information provided to citizens about EU infringements and their related sanctions? Does it think that it could take action in order to ensure that this information is shared in a transparent manner?

    Submitted: 15.7.2025

    • [1] https://pti.regione.sicilia.it/portal/page/portal/PIR_PORTALE/PIR_LaStrutturaRegionale/PIR_AssEnergia/PIR_Dipartimentodellacquaedeirifiuti/PIR_Areetematiche/PIR_Altricontenuti/PIR_Procedurediinfrazione.
    • [2] Articles 10 and 11 TEU.
    Last updated: 30 July 2025

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Europe: Written question – Extension and financing of the Euratom programme 2021-2027 – E-003019/2025

    Source: European Parliament

    Question for written answer  E-003019/2025
    to the Commission
    Rule 144
    Georg Mayer (PfE), Harald Vilimsky (PfE)

    The ongoing discussions about a possible extension of or increase in funding for the Euratom programme beyond 2027, the Austrian people’s longstanding clear opposition to nuclear power and the country’s constitutionally enshrined phasing out of nuclear energy raise the following questions.

    • 1.To what extent has the initial funding of EUR 1.38 billion changed in recent years, for instance by way of reallocation, additional resources or cuts to budgets for other EU priorities?
    • 2.How can the Commission ensure that Austria, as a Member State with a clear anti-nuclear stance, does not have to co-finance against its will projects that run counter to the basic tenets of its own energy policy and national bans?
    • 3.Why were separate categories not created for the public consultation to properly reflect opposition to nuclear power’s role in the energy mix by individual Member States and their populations?

    Submitted: 21.7.2025

    Last updated: 30 July 2025

    MIL OSI Europe News –

    July 31, 2025
  • MIL-OSI Asia-Pac: President Lai meets delegation from US National Endowment for Democracy

    Source: Republic of China Taiwan

    Details
    2025-07-24
    President Lai meets Somaliland Foreign Minister Abdirahman Dahir Adam  
    On the morning of July 24, President Lai Ching-te met with a delegation led by Republic of Somaliland Minister of Foreign Affairs and International Cooperation Abdirahman Dahir Adam. In remarks, President Lai thanked the Somaliland government for its longstanding, staunch support for Taiwan-Somaliland relations. The president mentioned that this year marks the fifth anniversary of Taiwan and Somaliland’s mutual establishment of representative offices and that our exchanges in various areas have yielded significant results. He expressed hope for continuing to deepen our partnership, advancing our bilateral friendship and fruitful cooperation. A translation of President Lai’s remarks follows: I warmly welcome all of our guests to Taiwan. This is the first visit to Taiwan for Minister Adam, Minister Khadir Hussein Abdi, and Admiral Ahmed Hurre Hariye. I thank you for your high regard and support for Taiwan. I also very much appreciate that Lead Advisor Mohamed Omar Hagi Mohamoud, who served as representative of Somaliland to Taiwan during the past five years, continues deepening Taiwan-Somaliland ties in his new role. Somaliland is renowned as a beacon of democracy in the Horn of Africa. I want to once again congratulate Somaliland on successfully holding presidential and political party elections last November, which garnered praise from the international community. At that time, I appointed Deputy Minister of Foreign Affairs François Chihchung Wu (吳志中) to serve as special envoy and lead a delegation to attend the inauguration of President Abdirahman Mohamed Abdullahi, demonstrating that Taiwan would work closely with Somaliland’s new government to write a new chapter in our friendship. Recently, authoritarian regimes have continued to apply new forms of coercion as they intensify suppression of Taiwan’s and Somaliland’s international participation. In response, our two sides must continue to deepen our partnership and demonstrate the resilience of democratic alliances, as well as our staunch commitment to defending our values.  This year marks the fifth anniversary of Taiwan and Somaliland’s mutual establishment of representative offices. Through our joint efforts, we have continued to expand exchanges in various areas, yielding significant results. This afternoon, we will also sign an agreement on coast guard cooperation, launching bilateral cooperation in maritime affairs. Regarding President Abdullahi’s focus on maritime security, the blue economy, and other policy objectives, we can strengthen our bilateral partnership moving forward. In addition, we also hope to work together with like-minded countries such as the United States, and through trilateral or multilateral cooperation platforms, realize the strategic goal of a non-red Somaliland coastline. I want to thank the Somaliland government once more for its longstanding, staunch support for Taiwan-Somaliland relations. I look forward to working with all of you to continue to advance our bilateral friendship and fruitful cooperation. In closing, I once again welcome Minister Adam and the delegation. I have every confidence that, in addition to advancing bilateral cooperation, this trip will allow you to experience Taiwan’s natural beauty and diverse culture. Minister Adam then delivered remarks, thanking the government and people of Taiwan for the warm hospitality they have received since their arrival. He stated that Taiwan is a peaceful nation and that it shares with Somaliland the value of democracy. He stated that we also share the goal of obtaining recognition, so he is glad that the Taiwan-Somaliland relationship is growing by the day. Minister Adam pointed out that there is much pressure that we are both facing in our relationship, but he reassured President Lai that no amount of pressure can change Somaliland’s strong ties with Taiwan. He also thanked the Taiwan government for the help it has proffered to Somaliland, adding that our relationship will only get better. Minister Adam said that Taiwan and Somaliland can cooperate in many areas and that there is more opportunity in Somaliland than any other country, adding that Somaliland is open for investment from Taiwan. Noting that our countries can also collaborate in other areas such as education and maritime security, the minister said that he is glad they will be signing a cooperative agreement in maritime security with Taiwan. He then said he is looking forward to a better relationship in the future. The delegation was accompanied to the Presidential Office by Somaliland Representative to Taiwan Mahmoud Adam Jama Galaal.  

    Details
    2025-07-22
    President Lai meets cross-party Irish Oireachtas delegation
    On the morning of July 22, President Lai Ching-te met with a cross-party delegation from the Oireachtas (parliament) of Ireland. In remarks, President Lai stated that Taiwan and Ireland are both guardians of the values of freedom and democracy. He indicated that Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community, saying that we look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. A translation of President Lai’s remarks follows: Deputy Speaker John McGuinness is a dear friend of Taiwan who also chairs the Ireland-Taiwan Parliamentary Friendship Association. Thanks to his efforts over the years, support for Taiwan has grown stronger in the Oireachtas. I thank him and all of our guests for traveling such a long way to demonstrate support for Taiwan and open more doors for exchanges and cooperation. Europe is Taiwan’s third largest trading partner and largest source of foreign investment. Ireland is a European stronghold for technology and innovative industries. Just like Taiwan, Ireland is an export-oriented economy. Our industrial structures are highly complementary. We hope that Taiwan’s electronics manufacturing and machinery industries can explore deeper cooperation with Ireland’s ICT software and biopharmaceutical fields, creating win-win outcomes. In May, the Irish government launched its National Semiconductor Strategy, outlining a vision to become a global semiconductor hub. Taiwan is home to the world’s most critical semiconductor ecosystem, and our own industrial development closely parallels that of Ireland. Moreover, we aspire to build non-red technological supply chains with democratic partners. I believe that going forward, Taiwan and Ireland can bolster collaboration so as to upgrade the competitiveness of our respective semiconductor industries. Together, we can help build a values-based economic system for democracies. I was delighted to receive congratulations from Deputy Speaker McGuinness on my election. Taiwan and Ireland are both guardians of the values of freedom and democracy. This visit from our guests further attests to our common beliefs. As authoritarianism continues to expand, Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community. We look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. Deputy Speaker McGuinness then delivered remarks, stating that he has been to Taiwan on many occasions and that it is a great honor to join President Lai and his staff at the Presidential Office. He said that Ireland has continued to build its strong relationship with Taiwan based on our democratic values and the interests that we have in trade throughout the world, strengthening this relationship based on culture, education, and more. Noting that he served with many other diplomats from Taiwan, he said all had the same goal, which was to further the interests of the Ireland-Taiwan friendship and to ensure that it grows and prospers. The deputy speaker then extended to President Lai the delegation’s best wishes for his term in office, stating that they commit to the same values as the previous friendship groups that have been visiting Taiwan. He went on to say that some members of the group are newly elected, representing the next generation of the association, and that they are committed to working together with Taiwan to stand strong in the defense of democracy. Deputy Speaker McGuinness also noted that the father of Deputy Ken O’Flynn, one of the delegation members, played an important role as a former chairman of the association, remarking that it is good to see such continuity taking place. Deputy Speaker McGuiness said that he believes the world is facing huge challenges and uncertainty in terms of our markets and trade with one another. He said we have to watch for what the United States will do next and be conscious of what China is doing, emphasizing that the European Union stands strong in the center of this, while Ireland plays a huge role in the context of democracy, trade, and the betterment of all things for the citizens that they represent. The deputy speaker then stated that while we focus on the development of AI that is extremely important for all of us, we can work together to ensure that we control AI rather than AI controlling us. He also remarked that we cannot lose sight of our traditional trading means, saying that we have to keep all of our trade together, expand on that trade, and then take on the new technologies that come before us. Deputy Speaker McGuinness concluded his remarks by thanking President Lai for receiving the delegation, stating that they commit to their continuation of support for Taiwan and for democracy. Also in attendance were Deputies Malcolm Byrne and Barry Ward, and Senator Teresa Costello.

    Details
    2025-07-22
    President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield
    On the morning of July 22, President Lai Ching-te met with an official delegation from the European Parliament’s Special Committee on the European Democracy Shield (EUDS). In remarks, President Lai thanked the committee for choosing to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe. President Lai emphasized that Taiwan, standing at the very frontline of the democratic world, is determined to protect democracy, peace, and prosperity worldwide. He expressed hope that we can share our experiences with Europe to foster even more resilient societies. A translation of President Lai’s remarks follows: Firstly, on behalf of the people of Taiwan, I extend a warm welcome to your delegation, which marks another official visit from the European Parliament. The Special Committee on the EUDS aims to strengthen societal resilience and counter disinformation and hybrid threats. Having been constituted at the beginning of this year, the committee has chosen to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe and the unlimited possibilities for deepening cooperation on issues of concern. I am also delighted to see many old friends of Taiwan gathered here today. I deeply appreciate your longstanding support for Taiwan. Taiwan and the European Union enjoy close trade and economic relations and share the values of freedom and democracy. However, in recent years, we have both been subjected to information manipulation and infiltration by foreign forces that seek to interfere in democratic elections, foment division in our societies, and shake people’s faith in democracy. Taiwan not only faces an onslaught of disinformation, but also is the target of gray-zone aggression. That is why, after taking office, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office, with myself as convener. The committee is a platform that integrates domestic affairs, national defense, foreign affairs, cybersecurity, and civil resources. It aims to strengthen the capability of Taiwan’s society to defend itself against new forms of threat, pinpoint external and internal vulnerabilities, and bolster overall resilience and security. The efforts that democracies make are not for opposing anyone else; they are for safeguarding the way of life that we cherish – just as Europe has endeavored to promote diversity and human rights. The Taiwanese people firmly believe that when our society is united and people trust one another, we will be able to withstand any form of authoritarian aggression. Taiwan stands at the very frontline of the democratic world. We are determined to protect democracy, peace, and prosperity worldwide. We also hope to share our experiences with Europe and deepen cooperation in such fields as cybersecurity, media literacy, and societal resilience. Thank you once again for visiting Taiwan. Your presence further strengthens the foundations of Taiwan-Europe relations. Let us continue to work together to uphold freedom and democracy and foster even more resilient societies. EUDS Special Committee Chair Nathalie Loiseau then delivered remarks, saying that the delegation has members from different countries, including France, Germany, the Czech Republic, Poland, and Belgium, and different political parties, but that they have in common their desire for stronger relations between the EU and Taiwan. Committee Chair Loiseau stated that the EU and Taiwan, having many things in common, should work more together. She noted that we have strong trade relations, strong investments on both sides, and strong cultural relations, while we are also facing very similar challenges and threats. She said that we are democracies living in a world where autocracies want to weaken and divide democracies. She added that we also face external information manipulation, cyberattacks, sabotage, attempts to capture elites, and every single gray-zone activity that aims to divide and weaken us. Committee Chair Loiseau pointed out another commonality, that we have never threatened our neighbors. She said that we want to live in peace and we care about our people; we want to defend ourselves, not to attack others. We are not being threatened because of what we do, she emphasized, but because of what we are; and thus there is no reason for not working more together to face these threats and attacks. Committee Chair Loiseau said that Taiwan has valuable experience and good practices in the area of societal resilience, and that they are interested in learning more about Taiwan’s whole-of-society approach. They in Europe are facing interference, she said, mainly from Russia, and they know that Russia inspires others. She added that they in the EU also have experience regulating social media in a way which combines freedom of expression and responsibility. In closing, the chair said that they are happy to have the opportunity to exchange views with President Lai and that the European Parliament will continue to strongly support relations between the EU and Taiwan. The delegation also included Members of the European Parliament Engin Eroglu, Tomáš Zdechovský, Michał Wawrykiewicz, Kathleen Van Brempt, and Markéta Gregorová.

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News –

    July 31, 2025
  • MIL-OSI USA: Developer Approved for Beacon Metro-North Station

    Source: US State of New York

    overnor Kathy Hochul today announced that the Metropolitan Transportation Authority Board has approved a developer, Jonathan Rose Companies, to transform a parking lot adjacent to the Beacon Metro-North Station into a residential development with 265 units of mixed-income housing. The development is the latest milestone following the Governor’s Executive Actions to repurpose existing underused State-owned sites for housing. The redevelopment will complement the City of Beacon’s efforts to foster greater connectivity between the waterfront, Beacon Station and Main Street. Residents will be able to access midtown Manhattan via Metro-North’s Hudson line in just 78 minutes.

    “The key to making our state a more affordable place to live is simple: build more housing, especially right next door to frequent and reliable transit service,” Governor Hochul said. “By creating new housing next to the Beacon Metro-North station, we are breathing new life into an underutilized site and giving more New Yorkers the opportunity to live in a vibrant community with an express train to New York City just next door. This project is a model for how thoughtful development can strengthen communities and make our state more affordable and livable.”

    Made possible through the Governor’s Redevelopment of Underutilized Sites for Housing (RUSH) program, funding will support a structured parking garage to replace an existing Metro-North commuter parking area with new housing units. The RUSH program is an initiative spearheaded by Governor Hochul to repurpose existing state sites and properties for housing. The initiative builds on the Governor’s Executive Order 30, which directed state agencies and authorities, including the MTA, to identify sites appropriate for housing development.

    MTA Chair and CEO Janno Lieber said, “Transit-oriented development is a double win for the region – creating lively, walkable communities while responding to Governor Hochul’s commitment to new housing. We can’t wait to get started on the Beacon project.”

    MTA Construction & Development President Jamie Torres-Springer said, “We’re proud to turn MTA assets into exciting, dynamic growth for the entire region, and I’m excited that this project will connect 265 new units of housing with all the great service the MTA has to offer.”

    MTA C&D Transit-Oriented Development Senior Vice President Miriam Harris said, “This project will create vital new housing options for the iconic riverside city of Beacon – all while increasing ridership and advancing our regional planning goals. It’s a win for New Yorkers everywhere, and we’re excited to see it move forward.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Expanding economic opportunity for New Yorkers starts with quality housing—and the Beacon Metro-North Station project shows how Governor Hochul is delivering. Under her leadership, New York is transforming underutilized state-owned sites and leveraging innovative NY-RUSH funding to create much-needed transit-oriented housing that strengthens local economies and fosters sustainable, connected growth in communities like Beacon and across the state.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Under Governor Hochul’s leadership, New York is turning bold ideas into real housing solutions. Thanks to the RUSH program, we’re creating 265 new homes right next to transit—a win for affordability, sustainability, and smart land use. This development turns pavement into progress, showing how strategic investment can reshape communities for the better and help more New Yorkers live where they thrive.”

    Beacon Mayor Lee Kyriacou said, “MTA’s proposed Transit-Oriented Development project in the City of Beacon will provide increased and affordable housing opportunities to current and future residents. It will replace ugly impermeable blacktop with environmentally sustainable living — which helps Beacon both to support our Main Street, and also to do our part to help address the housing shortage in our region.  We look forward to working with MTA to ensure that the project fits with the City’s planning priorities and aesthetic character.”

    Jonathan Rose Companies President Jonathan F.P. Rose said, “We are so pleased to have been selected by the MTA to redevelop the Beacon Train Station’s North Lot. This project represents a key goal of the firm- to develop green, transit-oriented mixed-income and mixed-use projects that expand housing options and economic development for their host communities. And what an amazingly vital, creative community Beacon is.”

    Dutchess County Executive Sue Serino said, “This transit-oriented development project will transform a state-owned parking lot into its highest and best use while maintaining parking for commuters with an integrated parking structure and increasing much needed housing supply and affordable options for our residents.”

    Assemblymember Jonathan Jacobson said, “The MTA’s transit-oriented housing plan provides much-needed housing for Beacon. The project will comply with Beacon zoning and provide affordable housing in at least ten percent of the 265 units. The complex will also have its own parking garage for new residents and retail customers, with no reduction of available parking for commuters. I applaud Governor Hochul on following through and bringing her promise of transit-oriented housing to Beacon.”

    The MTA’s Transit-Oriented Development team works closely with the State, municipalities, and the development community to leverage existing assets to generate new housing and increase ridership. This project will create waterfront housing units in a community celebrated for its natural beauty, within walking distance to all the dining, entertainment and amenities that Beacon’s Main Street has to offer.

    Governor Hochul’s Housing Agenda

    Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives and by removing barriers for development, $500 million in capital funding to build up to 15,000 units on state sites, including the City of Beacon project, as well as new protections for renters and homeowners. Building on this commitment, the FY26 Enacted Budget includes more than $1.5 billion in new State funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. These measures complement the Governor’s five-year, $25 billion Housing Plan, included in the FY23 Enacted Budget, to create or preserve 100,000 affordable homes statewide. More than 60,000 homes have been created or preserved to date.

    The FY25 and FY26 Enacted Budgets also strengthened the Governor’s Pro-Housing Community Program — which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 300 communities have received Pro-Housing certification, including the City of Beacon. This program also includes a $500 million capital fund to build up to 15,000 new homes on State-owned property, including the Beacon project.

    About Jonathan Rose Companies

    Jonathan Rose Companies is one of the country’s leading owners of green, affordable and mixed-income communities. Founded in 1989 with a mission to create a more environmentally thriving, socially just world through the development, preservation, renovation, and ownership of green, affordable and mixed-income communities, Rose has created projects $4.6 billion of value as of year-end 2024, with a current portfolio of nearly 20,000 apartment homes in 14 states and Washington, D.C. The Firm is a fully integrated investment management, development, and asset management company with construction management, solar energy, mortgage finance, and title company affiliates, and has offices in New York, Ohio, Colorado and California. For more information, please visit www.rosecompanies.com

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI: Ninepoint Partners Announces Final July 2025 Cash Distribution for Ninepoint Cash Management Fund – ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 30, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the final July 2025 cash distribution for the Ninepoint Cash Management Fund – ETF Series. The record date for the distribution is July 31, 2025. This distribution is payable on August 8, 2025.

    The per-unit final July 2025 distribution is detailed below:

    Ninepoint ETF Series Ticker  Cash Distribution per unit  Notional Distribution per unit CUSIP
    Ninepoint Cash Management Fund NSAV  $0.11888  $0.00000 65443X105


    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com 

    The MIL Network –

    July 31, 2025
  • MIL-OSI USA News: Adjusting Imports of Copper into the United States

    Source: US Whitehouse

    class=”has-text-align-center”> BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
     
    A PROCLAMATION

    1.  On June 30, 2025, the Secretary of Commerce (Secretary) transmitted to me a report on his investigation into the effects of imports of copper in all forms (copper), including copper ores, copper concentrates, refined copper, copper alloys, scrap copper, and derivative products, on the national security of the United States under section 232 of the Trade Expansion Act of 1962, as amended, 19 U.S.C. 1862 (section 232).  Based on the facts considered in that investigation, the Secretary found and advised me of his opinion that copper is being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.

    2.  The Secretary found that the present quantities of copper imports and the circumstances of global excess capacity for producing copper are weakening our economy, resulting in the persistent threat of further closures of domestic copper production facilities and the shrinking of our ability to meet national security production requirements.  Because of these risks, and taking into account the close relation of the economic welfare of the Nation to our national security and other relevant factors, see 19 U.S.C. 1862(d), the Secretary found that the present quantities and circumstances of copper imports threaten to impair the national security as provided in section 232.

    3.  In reaching this conclusion, the Secretary found that copper is essential to the manufacturing foundation on which United States national and economic security depend.  Copper is the second most widely used material by the Department of Defense and is a necessary input in a range of defense systems, including aircraft, ground vehicles, ships, submarines, missiles, and ammunition.  Copper also plays a central role in the broader United States industrial base.  The metal’s exceptional electrical conductivity and durability also make it indispensable to critical infrastructure sectors that support the American economy, national security, and public health.  Alternatives to copper are insufficient substitutes for these vital industries and products in many circumstances.

    4.  The Secretary found that the United States was a world leader across the value chain of copper production (mining, refining, semi-finished goods, and finished goods containing copper) for most of the 20th century.  But despite copper being a crucial material in manufacturing and for the national and economic security of the United States, United States copper production has plummeted.  Today, a single foreign country dominates global copper smelting and refining, controlling over 50 percent of global smelting capacity and holding four of the top five largest refining facilities.

    5.  The Secretary found that unfair trade practices abroad, exacerbated by overly burdensome environmental regulations at home, have hollowed out United States copper refining and smelting, caused the United States to be overly reliant on foreign copper imports, and prevent a path forward without strong corrective action.  Foreign competitors leverage state subsidies and overproduction to flood international markets with artificially low-priced copper products, driving United States producers out of business.  The United States is now dangerously dependent on foreign imports of semi-finished copper, intensive copper derivative products, and copper-containing products, and imbalances in the global markets make domestic investment increasingly unviable.

    6.  The Secretary found that United States dependency on foreign sources of copper is a national security vulnerability that could be exploited by foreign countries, weakens United States industrial resilience, exposes the American people to supply chain disruptions, economic instability, and strategic vulnerabilities, and jeopardizes the United States defense industrial base. 

    7.  In light of these findings, the Secretary recommended a range of actions to adjust the imports of copper so that such imports will not threaten to impair the national security.  For example, the Secretary recommended an immediate universal 30 percent import duty on semi-finished copper products and intensive copper derivative products.  The Secretary also recommended a phased universal tariff on refined copper of 15 percent starting in 2027 and 30 percent starting in 2028.  The Secretary further recommended a domestic sales requirement for copper input materials starting at 25 percent in 2027, a domestic sales requirement of 25 percent for high-quality copper scrap, and export controls for high-quality copper scrap. 

    8.  After considering the Secretary’s report, the factors in section 232(d), 19 U.S.C. 1862(d), and other relevant factors, among other things, I concur with the Secretary’s finding that copper is being imported into the United States in quantities and under circumstances that threaten to impair the national security of the United States.  In my judgment, and in light of the Secretary’s report, the factors in section 232(d), 19 U.S.C. 1862(d), and other relevant factors, among other things, I also determine that it is necessary and appropriate to impose tariffs, as described below, to adjust imports of copper and its derivatives so that such imports will not threaten to impair the national security of the United States.

    9.  To ensure that the tariffs on copper in this proclamation are not circumvented and that the purpose of this action to address the threat to impair the national security of the United States posed by imports of copper is not undermined, I also deem it necessary and appropriate to set up a process to identify and impose tariffs on certain derivatives of copper, as further described below.

    10.  In my judgment, the action in this proclamation will, among other things, help increase domestic production of semi-finished copper products and intensive copper derivative products, thereby reducing our Nation’s reliance on foreign sources.  It will ensure that domestic fabricators are able to supply sufficient quantities of copper products essential for infrastructure, defense systems, and advanced manufacturing.  This action will also promote investment, employment, and innovation in the domestic copper fabrication sector, strengthen supply chains, enhance industrial resilience, and generate meaningful economic benefits.  This action will adjust the imports of semi-finished copper products, intensive copper derivative products, and certain other copper derivatives and is necessary and appropriate to address the threat to impair the national security of the United States posed by imports of such articles.

    11.  Section 232 authorizes the President to adjust the imports of an article and its derivatives that are being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security so that such imports will not threaten to impair the national security. 

    12.  Section 604 of the Trade Act of 1974, as amended, 19 U.S.C. 2483, authorizes the President to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.

    13.  Consistent with the General Terms for the United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal (May 8, 2025), the United States intends to coordinate with the United Kingdom to adopt a structured, negotiated approach to addressing the national security threat in the copper sector.

    NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States of America, including section 232; the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.); section 101 of the Defense Production Act of 1950 (DPA), as amended, 50 U.S.C. 4511; section 301 of title 3, United States Code; and section 604 of the Trade Act of 1974, as amended, 19 U.S.C. 2483, do hereby proclaim as follows:
    (1)  Except as otherwise provided in this proclamation, all imports of semi-finished copper products and intensive copper derivative products, as set forth in the Annex to this proclamation, shall be subject to a 50 percent tariff.  This tariff shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on August 1, 2025, and shall continue in effect, unless such action is expressly reduced, modified, or terminated.  This tariff is in addition to any other duties, fees, exactions, and charges applicable to such imported semi-finished copper products and intensive copper derivative products, unless stated otherwise below.
    (2)  The Secretary, in consultation with the United States International Trade Commission and U.S. Customs and Border Protection (CBP), shall determine whether any modifications to the HTSUS are necessary to effectuate this proclamation and shall make such modifications through notice in the Federal Register if needed.
    (3)  Within 90 days after the date of this proclamation, the Secretary shall establish a process for including additional derivative copper articles within the scope of the duties of this proclamation, consistent with the processes established pursuant to Proclamation 10895 of February 10, 2025 (Adjusting Imports of Aluminum Into the United States) and Proclamation 10896 of February 10, 2025 (Adjusting Imports of Steel Into the United States).
    (4)  The non-copper content of all copper articles subject to this proclamation shall be subject to tariffs pursuant to Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits), and any other applicable duties, including those imposed by Executive Order 14193 of February 1, 2025 (Imposing Duties To Address the Flow of Illicit Drugs Across Our Northern Border), as amended, Executive Order 14194 of February 1, 2025 (Imposing Duties To Address the Situation at Our Southern Border), as amended, and Executive Order 14195 of February 1, 2025 (Imposing Duties To Address the Synthetic Opioid Supply Chain in the People’s Republic of China), as amended.  The additional duties described in clauses 1 through 3 of this proclamation shall apply only to the copper content of articles subject to this proclamation.  CBP shall issue authoritative guidance mandating strict compliance with declaration requirements for copper content in imported articles and outlining maximum penalties for noncompliance, including that importers who submit underreported declarations may be subject to severe consequences, such as significant monetary penalties, loss of import privileges, and criminal liability, consistent with United States law.
    (5)  If any product is subject to tariffs under both this proclamation and Proclamation 10908 of March 26, 2025 (Adjusting Imports of Automobiles and Automobile Parts Into the United States), as amended, the product shall be subject to the duties imposed pursuant to Proclamation 10908, as amended, and not those imposed pursuant to this proclamation.
    (6)  Any product described in clause 1 of this proclamation, except those eligible for admission as “domestic status” as described in 19 CFR 146.43, that is subject to a duty imposed by this proclamation and that is admitted into a United States foreign trade zone on or after the effective date of this proclamation must be admitted as “privileged foreign” status as described in 19 CFR 146.41, and will be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading. 
    (7)  The Secretary shall continue to monitor imports of copper and its derivatives.  The Secretary shall, from time to time, in consultation with any senior executive branch officials the Secretary deems appropriate, review the status of copper and copper derivative imports with respect to national security.  The Secretary shall inform the President of any circumstances that, in the Secretary’s opinion, might indicate the need for further action by the President under section 232.  By June 30, 2026, the Secretary shall provide the President with an update on domestic copper markets, including refining capacity and the market for refined copper in the United States, so that the President may determine whether imposing a phased universal import duty on refined copper of 15 percent starting on January 1, 2027, and 30 percent starting on January 1, 2028, as recommended by the June 30, 2025, report, is warranted to ensure that copper imports do not continue to threaten to impair the national security.  The Secretary shall also inform the President of any circumstance that, in the Secretary’s opinion, might indicate that the duty rate provided for in this proclamation, or any actions modifying this proclamation, is no longer necessary.
    (8)  Separately, I find that copper input materials and high-quality copper scrap meet the criteria specified in section 101(b) of the DPA, 50 U.S.C. 4511(b).  Pursuant to the authority delegated to the Secretary in Executive Order 13603 of March 16, 2012 (National Defense Resources Preparedness), the Secretary shall take all appropriate action to implement the domestic sales requirements that he recommended in the June 30, 2025, report.
    (9)  The Secretary may issue regulations, rules, guidance, and procedures consistent with the purpose of this proclamation, including to address operational necessity.
    (10)  No drawback shall be available with respect to the duties imposed pursuant to this proclamation.
    (11)  CBP may take any necessary or appropriate measure to administer the tariff imposed by this proclamation.
    (12)  Any provision of previous proclamations and Executive Orders that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.  If any provision of this proclamation, or the application of any provision to any individual or circumstance, is held to be invalid, the remainder of this proclamation and the application of its provisions to any other individuals or circumstances shall not be affected.

    IN WITNESS WHEREOF, I have hereunto set my hand this thirtieth day of July, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and fiftieth.
     
     
     
                                   DONALD J. TRUMP

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: 07.29.2025 Sen. Cruz Introduces Bill to Establish Drone Manufacturing in Texarkana

    US Senate News:

    Source: United States Senator for Texas Ted Cruz

    WASHINGTON, D.C. – Today, U.S. Sen. Ted Cruz (R-Texas), joined by Sens. John Cornyn (R-Texas), Tom Cotton (R-Ark.), and John Boozman (R-Ark.), introduced the SkyFoundry Act of 2025 to establish a drone production facility, SkyFoundry, at the Red River Army Depot (RRAD) in Texarkana, Texas. This bill will allow RRAD to develop, produce, and field drones for the Department of Defense.
    Sen. Cruz said, “Establishing a drone manufacturing facility at the Red River Army Depot will help ensure that the United States remains at the forefront of drone production. I’m proud to see the Lone Star State continuing to lead in defense innovation, and I look forward to working with my colleagues in Congress to swiftly pass this legislation.”
    Sen. Cornyn said, “Russia and China are currently outpacing America in scalable drone production and investment, making us vulnerable to national security threats if left unmatched. This legislation seeks to close this gap and help ensure America remains competitive with our foreign adversaries by establishing a new innovation and production facility that would rapidly improve our ability to develop, test, and mass-produce small unmanned aircraft systems.”
    Sen. Cotton said, “Large-scale manufacturing of small drones is critical to the Army’s current and future operational capability. This bill is a win for national security and for Arkansas as the Skyfoundry program presents a unique opportunity to more fully utilize the Army’s organic industrial base by positioning Red River Army Depot to meet the Army’s emerging requirements.”
    Sen. Boozman said, “The men and women of the Red River Army Depot are committed to providing our servicemembers with the tools they need to defend our nation. With unmanned aircraft systems playing an increasingly prominent role in modern warfare, tasking them with developing and sustaining an adequate supply of drone systems would be a win for this skilled workforce and our armed forces. I am pleased to join my colleagues to champion this effort and the Arkansans whose vital contributions to Red River support our national security and local economy.”
    Companion legislation was introduced in the House by Rep. Pat Harrigan (R-N.C.-10).
    Rep. Harrigan said, “The future of warfare is cheap, fast, and scalable—and right now, America is none of those things. The SkyFoundry Act changes that. It creates a fully American pipeline to design, test, and mass-produce FPV drones at scale, decoupled from Chinese supply chains and driven by U.S. innovation. This initiative doesn’t just build drones; it rebuilds our defense industrial base to meet the demands of modern conflict.”
    Read the full text of the bill here.
    The Texarkana Chamber of Commerce, TexAmericas Center, and the City Manager of the City of Texarkana support the bill.
    Robin Hickerson, President & CEO of the Texarkana Chamber of Commerce said, “The Texarkana USA Regional Chamber of Commerce thanks Senators Ted Cruz, John Boozman, Tom Cotton, and John Cornyn for sponsoring the SkyFoundry Act of 2025, which supports the rapid development and production of small unmanned aircraft systems and emphasizes the use of existing Army Depot facilities. Red River Army Depot is well positioned to meet the criteria outlined in the bill, with over 15,000 acres, 8 million square feet of facilities, and a central location near four states. The Chamber commends RRAD for its flexibility and readiness to support future innovation in defense manufacturing. RRAD has long been a vital economic engine for the Texarkana region. This legislation reinforces its strategic value and opens the door for even greater impact on jobs, innovation, and national security. The Chamber stands ready to support the SkyFoundry Program and advocate for continued investment in Red River Army Depot.”
    Scott Norton, Executive Director & CEO of the TexAmericas Center said, “TexAmericas Center thanks Senator Cruz and his staff for all their efforts with the SkyFoundry Act of 2025. Utilizing a location such as Red River Army Depot for the annual production of 1,000,000 unmanned aircraft systems, and other associated systems, allows the Department of Defense to collaborate employee training and program enhancements with Texas A&M University – Texarkana, University of Arkansas Hope-Texarkana, and Texarkana College. Investing in the dedicated organic industrial base workforce emphasizes the value of the current and future workforce at Red River Army Depot and demonstrates value of our defense community to our nation’s defense. We look forward to the passing of the SkyFoundry Act of 2025 and the continued expansion of workload at Red River Army Depot.”
    David Orr, City Manager of the City of Texarkana, Texas said, “The SkyFoundry Act of 2025 represents a forward-thinking investment in advanced manufacturing of unmanned aircraft systems and workforce development that aligns with the Texarkana region’s long-standing commitment to economic growth and regional opportunity. We appreciate Senator Cruz’s leadership in advancing legislation that strengthens our national defense and the industries that power our future.”

    BACKGROUND
    The SkyFoundry Act of 2025 will:

    Establish a production facility and innovation facility for the production and development of small unmanned aircraft systems.
    Utilize a Government-Owned, Government-Operated Contractor Augmented (GOGO/CA) model, blending military, civilian, and contract personnel.
    Encourage public-private partnerships with industry, academia, and nonprofits.

    RRAD supports 3,500 direct jobs and over 9,100 total jobs, providing an economic impact of at least $1.6 billion annually to the region.

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI Analysis: It’s not revolutionary, but Primark’s wheelchair-using mannequin is a potent symbol

    Source: The Conversation – UK – By William E. Donald, Associate Professor of Sustainable Careers and Human Resource Management, University of Southampton

    Brett D Cove/Primark, CC BY-ND

    July is Disability Pride Month, a time to celebrate disabled people while continuing the push for equality, accessibility and visibility. Despite making up 16% of the global population, disabled people rarely appear in fashion marketing campaigns. For brands, treading the right line between solidarity and accusations of performative allyship is vital.

    Primark’s latest initiative is a notable attempt to navigate this challenge. The fashion chain has introduced its first mannequin representing a wheelchair user. Designed with disability advocate Sophie Morgan, the mannequin (named Sophie) now appears in 22 flagship stores internationally.

    At first glance, this looks like progress. However, in an industry where inclusivity is often more about appearance than systemic change, it prompts an important question. Is this a genuine step forward?

    The mannequin is designed to reflect a manual wheelchair user. Morgan contributed to a year-long design process that included reviewing body dimensions, 3D mock-ups and a custom wheelchair frame strong enough to withstand store conditions.

    Disability campaigner Sophie Morgan was involved throughout the design process.
    Brett D Cove/Primark, CC BY-ND

    The launch coincides with the expansion of Primark’s adaptive clothing collection, which was launched in January 2025. The collection features magnetic closures, elasticated waistbands and discreet openings for medical access points like feeding tubes or stomas. Many garments are designed specifically for seated wearers – as a wheelchair user, I am only too aware that this is often missing from mainstream clothing ranges.

    What sets Primark’s effort apart is its emphasis on affordability. Adaptive clothing has been sold mostly through specialist retailers or premium brands. Primark’s decision to offer it at a low price point could represent a meaningful shift in making accessible fashion mainstream. And the involvement of disabled advocates and the visible changes across stores suggest a more serious commitment.

    In 2014, supermarket Sainsbury’s Back To School campaign featured Natty Goleniowska, a seven-year-old girl with Down’s syndrome. Then, in 2017, the fashion chain River Island ran a campaign featuring Joseph Hale, an 11-year-old boy also with Down’s syndrome. While Sainsbury’s campaign was groundbreaking and both were widely praised, they were largely confined to advertising and online platforms.

    Primark, by placing its seated mannequin in shop windows and on store floors, brings representation into physical retail spaces. This challenges long-standing visual norms and offers disabled shoppers something that has long been absent – recognition in the places where they live and shop.

    What Primark gets right

    First, disabled people were included throughout the campaign’s development. Morgan’s role was not symbolic – her input shaped the final design.

    Second, the mannequin is more than a token gesture. It is a durable, mass-produced model intended for multiple locations. This kind of visibility in bricks-and-mortar stores matters. For many disabled people, seeing themselves reflected in major retail environments can be validating and empowering.

    Third, the adaptive clothing range includes thoughtful, functional features that are often missing in standard retail offerings. Design details like seated-friendly fits or catheter access offer tangible improvements for dressing with dignity.

    Finally, launching the campaign during Disability Pride Month adds relevance. Amid growing scrutiny of superficial inclusion, Primark’s approach appears to be carefully considered, as it builds on a campaign that began in January 2025.

    But there’s still room for improvement across the retail sector. Mannequins cannot solve physical barriers in stores. Many retail spaces still lack step-free access, automatic doors or accessible changing rooms. Until these issues are addressed, the mannequin risks becoming a symbol disconnected from the reality of disabled shoppers.

    Second, while Primark’s adaptive line is innovative, it remains small. Style variety, trend relevance and extended sizing should be priorities to ensure disabled shoppers are not limited to functional basics.

    Third, economic accessibility extends beyond low prices. Disabled people face disproportionate financial pressures. Future efforts could include partnerships with health schemes or grants to improve access further.

    And representation should be broader still. Disability comes in many forms, intersecting with race, body size, gender identity and types of mobility aids (including for invisible disabilities). Future campaigns should reflect this diversity. And true inclusion extends to employment practices and customer service. Hiring more disabled staff and creating accessible roles in retail would shift inclusion from visual representation to operational reality.

    Ultimately, diversity should include retailers’ workforce as well as their customers.
    DC Studio/Shutterstock

    While there are certainly green shoots of positivity here, it is too early to tell if this will be a gamechanging move by Primark. The answer depends on whether this campaign marks the start of sustained change across the retail sector. The real test lies ahead.

    Long-term commitments such as improving store accessibility, expanding representation and inclusive hiring practices are essential. Without these, it might come to be seen as performative allyship that risks damaging not only Primark’s brand but also the disabled community and society at large.

    Primark’s seated mannequin is not a revolution, but it is a powerful symbol. It sends a message that disabled people deserve visibility in public life – not as an afterthought, but as valued participants. To move from intention to transformation, visibility must be matched with access.

    Inclusion needs to be embedded into the infrastructure of retail, not just its imagery. All retailers should take a broader view of inclusive practices to ensure clear messaging and commitments across their supply chain, advertising and stores.

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

    – ref. It’s not revolutionary, but Primark’s wheelchair-using mannequin is a potent symbol – https://theconversation.com/its-not-revolutionary-but-primarks-wheelchair-using-mannequin-is-a-potent-symbol-262143

    MIL OSI Analysis –

    July 31, 2025
  • MIL-OSI USA: S. 632, IHS Workforce Parity Act of 2025

    Source: US Congressional Budget Office

    S. 632 would modify two workforce development programs aimed at recruiting health professionals for the Indian Health Service (IHS). The IHS Scholarship Program provides grants to current students who are members of federally recognized tribes and working toward degrees in the health professions. The awards cover tuition and education-related expenses in exchange for a two-year, full-time commitment to work for IHS after certification as a health professional. The Loan Repayment Program pays current health professionals up to $25,000 annually to cover student loan repayments and up to $6,000 a year to cover the associated income tax liability in exchange for a two-year, full-time commitment to work for IHS.

    S. 632 would modify both programs by allowing recipients to work part-time in exchange for the financial assistance. Under the bill, Scholarship Program recipients could work 20 hours a week for four years, and Loan Repayment Program recipients could work either part-time at IHS for four years for the full amount of loan and tax assistance or part-time for two years in exchange for a 50 percent reduction in their loan assistance.

    CBO estimates that implementing S. 632 would result in more students and health care professionals receiving financial assistance by agreeing to work with IHS. CBO expects that the number of grants would increase by about 1 percent in 2027 and continue to grow thereafter. By 2031, and for the remainder of the 2025-2035 period, the number of grants is projected to increase by 5 percent relative to current law. Using information from IHS about average scholarship and loan amounts and information on the cost of part-time employment at IHS, CBO estimates that implementing the bill would cost $17 million over the 2025-2030 period and $125 million over the 2025-2035 period. Any related spending would be subject to the availability of appropriated funds.

    The costs of the legislation, detailed in Table 1, fall within budget function 550 (health).

    Table 1.

    Estimated Spending Subject to Appropriation Under S. 632

     

    By Fiscal Year, Millions of Dollars

       
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2035

    2025-2030

    2025-2035

    Estimated Authorization

    0

    *

    1

    2

    5

    9

    14

    18

    22

    26

    28

    17

    125

    Estimated Outlays

    0

    *

    1

    2

    5

    9

    14

    18

    22

    26

    28

    17

    125

    The CBO staff contact for this estimate is Robert Stewart. The estimate was reviewed by Emily Stern, Senior Adviser for Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

    July 31, 2025
  • MIL-Evening Report: Rules for calculating climate risk in financial reporting by NZ businesses need revisiting – new research

    Source: The Conversation (Au and NZ) – By Martien Lubberink, Associate Professor of Accounting and Capital, Te Herenga Waka — Victoria University of Wellington

    Andrew MacDonald/Getty Images

    The recent International Court of Justice (ICJ) decision on climate action marked a significant step forward in formalising an idea many already accept: climate inaction is not merely a policy failure, but potentially a breach of legal duty by governments.

    The court’s opinion is not legally binding but establishes global expectations. Crucially, the court confirmed environmental protection includes a duty to regulate private businesses and organisations.

    In New Zealand, large organisations already have to list climate-related risks in their annual reports and regulatory filings under the External Reporting Board’s Climate Standards.

    But our latest research suggests the benefits of mandatory climate reporting regulation in New Zealand may not be as straightforward as they appear.

    Extreme weather, limited financial impact

    We analysed how New Zealand’s stock market responds to extreme weather events (heavy rain, windstorms, snow, temperature spikes and thunderstorms) using data curated by Earth Sciences New Zealand.

    Climate risk is widely assumed to have an impact on markets. So, we expected investors would respond to damaging weather with selloffs or price adjustments.

    Instead, we found most extreme weather events had little to no impact on the share prices of New Zealand’s 50 largest listed companies, those on the NZX50.

    Even firms directly exposed to these events – airlines, utilities, logistics companies – showed only muted reactions, if any.

    It may be that markets already price in these risks. Or that firms have managed them effectively through infrastructure investment and planning.

    What is more, the location and severity of extreme weather in New Zealand have remained relatively stable over the past three decades.

    Using a statistical analysis, we found no evidence of accelerating trends typically attributed to global warming. This technique assessed whether a particular extreme weather event can be linked to human-induced climate change.

    New Zealand’s extreme weather events tend to involve cold, rain and wind – unlike the heatwaves, wildfires and droughts that dominate international headlines.

    What this means for disclosure mandates

    If markets are already efficiently pricing in these risks – or if the risks are genuinely immaterial for the company – the benefits of mandatory disclosure may be overstated.

    Our study suggests the case for universal, mandatory disclosure of extreme weather events under the climate board’s standards may not be strong. If financial impacts are already reflected in stock prices, the current voluntary framework may suffice for many firms.

    This is not an argument against disclosure broadly. While our study did not assess other climate-related risks – such as supply chain disruption or chronic sea level rises – these may well be material for some organisations, especially unlisted or regionally exposed firms.

    But for the NZX50, where climate regulation is currently focused, the value of standardised extreme weather events disclosures seems limited.

    Global principles, local realities

    None of this contradicts the ICJ’s opinion.

    The court emphasised that states must act, not only to reduce emissions but to protect against climate-related harm. That includes harm caused by private actors, who must be subject to effective regulation.

    But the ICJ also recognises the importance of national circumstances. While bound by international obligations, each country still needs to tailor its climate policies to the actual risks it faces.

    To do otherwise risks shifting government energy and private capital towards compliance that offers little benefit to investors, the public or the climate.

    New Zealand at a crossroads

    The ICJ decision comes as New Zealand’s climate ambition appears to be softening.

    The government recently released an updated emissions pledge that barely improves on its predecessor. At the same time, it is also reviving offshore oil and gas exploration, expanding coal production and backing legislation to shield carbon-intensive firms from environmental, suitability and governance aligned lending decisions by banks.

    Such moves may be politically popular in some quarters, but they sit uneasily with both the ICJ’s vision and New Zealand’s obligations under the Paris Agreement and various trade deals.

    If New Zealand wants to avoid being seen as lagging – or worse, a bad-faith actor – it must reconcile its domestic policies with international decision-making.

    That does not mean copying regulation from other countries. But it does mean being honest about what is material, what is symbolic and what actually helps reduce emissions or build resilience.

    Regulation needs to be smart, not just visible

    The ICJ opinion should not be used to justify every climate policy proposal. Rather, it should encourage governments to develop regulation that is meaningful, proportionate and based on evidence.

    Our study offers one such piece of evidence. In terms of financial market impacts, New Zealand’s extreme weather may not justify the same disclosure obligations as those in countries where the physical risks are more severe or more clearly linked to climate change.

    This is not a reason to do less. It is a reason to do better. Policy needs to target disclosure where it matters, to focus adaptation spending where it is needed and to measure the impact of climate policies not only by their intentions, but by their outcomes.

    In short, the ICJ has spoken. Now it is up to each country to act wisely.

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

    – ref. Rules for calculating climate risk in financial reporting by NZ businesses need revisiting – new research – https://theconversation.com/rules-for-calculating-climate-risk-in-financial-reporting-by-nz-businesses-need-revisiting-new-research-262024

    MIL OSI Analysis – EveningReport.nz –

    July 31, 2025
  • MIL-OSI USA: Garbarino, Torres Reintroduce Bipartisan Saving Vet Halls Act

    Source: United States House of Representatives – Representative Andrew Garbarino (R-NY)

    WASHINGTON, D.C. – Today, Congressman Andrew R. Garbarino (R-NY-02) and Congressman Richie Torres (D-NY-15) announced the reintroduction of the Saving Vet Halls Act, bipartisan legislation to create a grant program addressing the needs of local Veterans Service Organizations (VSOs) as they continue to struggle to keep their facilities open. VSOs such as the American Legion, AMVETS, and Veterans of Foreign Wars (VFW) serve as community centers providing crucial services to veterans, servicemembers, dependents, and survivors in our communities, many of which require the use of VSO facilities.

    “Veterans’ halls play an important role in our communities. They connect veterans to the services they’ve earned and give people a place to come together,” said Rep. Garbarino. “These spaces host everything from job fairs to memorials, but too many are being forced to close their doors because of aging infrastructure and limited resources. The Saving Vet Halls Act makes sure Veteran Service Organizations can continue supporting the men and women who served and the communities they live in.”

    “Veterans’ halls are the heartbeats of our communities, where neighbors come together to celebrate life’s milestones and where veterans receive vital support,” said Rep. Torres. “The Saving Vet Halls Act of 2025 recognizes the essential role played by Veteran Service Organizations like the American Legion, AMVETS, and Veterans of Foreign Wars, ensuring they can continue serving those who’ve served us. By creating this $10 million grant program, we’re giving local heroes the tools they need to repair, renovate, and modernize their facilities for the next generation.”

    There are over 100 national Veterans Service Organizations recognized by the U.S. Department of Veterans Affairs (VA) that serve millions of veterans across the country. Too often, these organizations are forced to rely on small fundraisers, volunteer labor, or go without essential repairs due to a lack of dedicated funding. That’s why Congress must act by establishing a federal grant program specifically designed to help VSO posts make critical facility repairs and upgrades.

    The Saving Vet Halls Act of 2025 takes action to alleviate the financial burden on these local Veterans’ Halls so that veterans and their families can continue to rely on them for support. Specifically, this bill would:

    1. Establish a $10 million grant program through the VA that allows local VSOs to apply for grants of up to $75,000 to make necessary infrastructure and technology improvements to keep these buildings open and operational.
    2. Require VSOs to submit plans demonstrating the need for funding as well as the use of such funds to the VA Secretary, who would then prioritize grant allocation based on need and the capacity to complete the project.

    Additional original cosponsors of the Saving Vet Halls Act of 2025 include Representatives Nicole Malliotakis (R-NY-11), Jared Moskowitz (D-FL-23), Nick LaLota (R-NY-1), Don Davis (D-NC-1), Mike Lawler (R-NY-17), Angie Craig (D-MN-2), Brian Fitzpatrick (R-PA-1), Joe Neguse (D-CO-2), and Tom Kean (R-NJ-7). First introduced in 2022, this legislation is endorsed by the American Legion, VFW, and AMVETS.

    “The American Legion proudly supports the Saving Vet Halls Act of 2025. This commonsense legislation recognizes the essential role that local veterans service organizations play in our communities—providing fellowship, outreach, and critical support to those who served. By offering targeted grants to chartered veterans service organizations for facility repairs and technology upgrades, this bill will ensure that posts across the country remain safe, accessible, and equipped to serve future generations of veterans. We thank Congressman Garbarino for his leadership in introducing this important bill and urge Congress to swiftly advance it,” said Mario Marquez, Executive Director of Government Affairs of The American Legion.

    “AMVETS proudly supports the Saving Vet Halls Act of 2025, which would provide critical resources to preserve and modernize local veterans’ halls. These spaces are essential to the well-being and connection of the veteran community, and this bill ensures they remain open and accessible for generations to come,” said Joseph Chenelly, National Executive Director of AMVETS.

    The full text of the bill can be found here. 

    ###

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Feenstra Applauds President Trump for Signing Legislation to Keep Veterans in their Homes

    Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

    HULL, IOWA – Today, U.S. Rep. Randy Feenstra (R-Hull) issued the following statement praising President Trump for signing into law the VA Home Loan Program Reform Act:

    “I thank President Trump for signing into law the VA Home Loan Program Reform Act, which will help keep veterans in their homes and alleviate financial stress. This law ensures that veterans who have fallen on tough times can receive relief on late mortgage payments and avoid foreclosure. Our veterans are true American heroes, and this law represents a small token of our gratitude and appreciation for their service.”

    The U.S. House of Representatives unanimously approved this legislation in May.

    ###

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: Grassley Introduces Bipartisan Legislation to Strengthen FBI Whistleblower Protections

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa), co-founder and co-chair of the Whistleblower Protection Caucus, today introduced the Federal Bureau of Investigation (FBI) Whistleblower Protection Enhancement Act. Grassley’s legislation is cosponsored by Sen. Gary Peters (D-Mich.).

    “The Biden-Harris administration’s weaponization of the Justice Department and FBI, as well as its egregious retaliation against whistleblowers, caused great damage to our nation’s federal institutions. Multiple agents who bravely blew the whistle had their security clearances suspended and were placed under investigation with no end in sight, leaving them in professional limbo and causing serious financial harm. While the Trump administration has taken significant steps to undo the damage, Congress must offer a solution to ensure future FBI whistleblowers aren’t subjected to a similar retaliatory playbook,” Grassley said. “My legislation will ensure these patriotic whistleblowers receive the protections they deserve, rather than being treated like skunks at a picnic.”

    The bipartisan bill would provide Federal Bureau of Investigation (FBI) employees with whistleblower protections established by the Grassley-led Whistleblower Protection Act of 1989, and its subsequent amendments. Specifically, the FBI Whistleblower Protection Enhancement Act would:

    • Protect FBI whistleblowers who appeal adverse personnel decisions, or who cooperate in whistleblower investigations;
    • Require the Grassley-authored anti-gag provision to be included in FBI nondisclosure policies, forms and agreements to inform employees of their right to report waste, fraud or abuse, including to Congress;
    • Prohibit the FBI from coercing employees to engage in political activity;
    • Clarify which whistleblower disclosures are legally protected;
    • Require the Attorney General to fully inform FBI employees of their whistleblower protection rights, including challenging retaliatory security clearance suspensions;
    • Implement the Government Accountability Office (GAO) 2024 recommendation to clarify the process for FBI whistleblowers to seek corrective action from the Merit Systems Protection Board;
    • Eliminate the requirement that whistleblowers wait a year before challenging the denial, suspension or revocation of their security clearance; and
    • Require the Director of National Intelligence to ensure agency investigations and adjudications of security clearance denials, suspensions and revocations are free from conflicts of interest.

    The FBI Whistleblower Protection Enhancement Act is supported by multiple whistleblower advocacy groups, including Empower Oversight and the Government Accountability Project.

    “Senator Grassley’s bill represents the culmination of more than four decades of fighting to ensure that those who protect America’s security have the security to speak truth to power. We urge Congress to pass this legislation swiftly and finally deliver justice that’s been delayed far too long,” said Tom Devine, Legal Director of the Government Accountability Project.

    Read the bill text HERE.

    Background:

    During the 101st Congress, the Grassley-led Whistleblower Protection Act became law, requiring the Attorney General to establish whistleblower protections for FBI employees through regulatory action. However, the Department of Justice (DOJ) refused to implement whistleblower protection regulations until 1997, when then-President Bill Clinton issued a memo requiring them to do so.

    Following concerns of continued retaliation, the Grassley-led Whistleblower Protection Enhancement Act of 2012 was signed into law, directing the Attorney General to issue a report reevaluating the 1997 FBI whistleblower protection regulations. Due to the DOJ’s lack of responsiveness, Grassley commissioned the GAO to issue a report, which was published in 2015 and revealed alarming gaps in the FBI’s whistleblower regulations.

    In response to the 2015 GAO report, Grassley introduced the FBI Whistleblower Protection Enhancement Act of 2016, which subsequently became law. This legislation directed the FBI to implement modernized whistleblower protection regulations and codified certain FBI whistleblower protections. Despite Grassley’s bill and his call for the FBI to follow the law, the FBI failed to implement these regulations until 2024 – right before the GAO was set to publish a report evaluating the FBI’s implementation of Grassley’s 2016 law. Much like the 2015 report, the 2024 GAO report revealed significant failings in the FBI’s whistleblower protection regulations.

    Given the FBI’s inability over the last 35-years to effectively implement whistleblower protection regulations, as well as the Biden-Harris administration’s pervasive retaliation against whistleblowers, Grassley is now introducing legislation to cement the much-needed protections into law.

    -30-

    MIL OSI USA News –

    July 31, 2025
  • MIL-OSI USA: RGA Statement on Kamala Harris Not Running for Governor of California

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – The Republican Governors Association (RGA) released the following statement today in response to Kamala Harris announcing she will not run for Governor of California:

    “Kamala Harris’ political career is over thanks to President Trump. Look no further than her decision to not run for governor. She would have been a disaster for California: tanking the state’s economy even further, protecting criminal illegal immigrants over law-abiding citizens, and further bringing the Democrat Party brand down with her, just like she did as Vice President,” said RGA Rapid Response Director Kollin Crompton. “Americans across the country can sigh in relief that they won’t have to see or hear from Kamala Harris any longer.”

    ###

    MIL OSI USA News –

    July 31, 2025
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