NewzIntel.com

Category: Economy

  • MIL-OSI Australia: ACCC authorises collaboration to improve the sustainability of cash-in-transit services

    Source: Australian Ministers for Regional Development

    The ACCC has issued a determination granting authorisation with conditions to allow the Australian Banking Association Ltd (ABA), major banks, major retailers and supermarkets, Australia Post and other industry participants to collaborate on the future continuity of cash-in-transit services.

    The authorisation allows the major banks and retailers to provide financial support to Armaguard and for the parties to discuss, agree and implement operational sustainability and efficiency measures across the services provided by Armaguard’s cash-in-transit business to those banks and retailers.

    The authorisation also allows the parties to develop, but not implement, an independent pricing mechanism in respect of their cash services agreements with Armaguard.

    “We consider that the conduct would be likely to reduce the risk of disruption to Armaguard’s cash-in-transit services in the immediate future, while the increased sustainability of those services would support ongoing access to cash across Australia,” ACCC Deputy Chair Mick Keogh said.

    “This is a significant public benefit.”

    The ACCC considers that, with the conditions set out in this determination, the conduct is likely to result in minimal public detriments.

    “This decision will increase future consultation in the cash-in-transit industry,” Mr Keogh said.

    “The ABA is now required to ensure that an independent expert will conduct reasonable consultation with stakeholders in the development of an independent pricing mechanism proposal.”

    Further information about the ACCC’s final determination is available on the authorisations public register.

    Note to editors

    The ACCC’s role is to consider requests for exemptions from competition laws that may be breached to enable competitors to collaborate on such arrangements.

    ACCC authorisation provides statutory protection from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010 (Cth).

    Broadly, s 91 of the Competition and Consumer Act 2010 (Cth) allows the ACCC to grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment.

    Background

    Cash-in-transit services involve providing cash transport, management, and processing services. These services are provided to banks, retailers, and independent ATM operators.

    On 13 June 2023, the ACCC granted merger authorisation to Armaguard and Prosegur Australia to combine their cash distribution, management and other businesses in Australia, and accepted a court-enforceable undertaking, which is a condition of the merger authorisation. Following this merger, Armaguard became the major supplier of cash-in-transit services in Australia.

    On 27 May 2024, the ACCC granted authorisation with conditions to the ABA, the Customer Owned Banking Association, banks, retailers and other industry participants to allow them to develop responses to support the distribution of cash across Australia. 

    On 3 July 2024, the ACCC granted interim authorisation with a condition to allow the ANZ Bank, Commonwealth Bank, National Australia Bank, Westpac, Australia Post, Coles, Wesfarmers and Woolworths (the Funding Parties) to provide financial contributions to Armaguard. 

    On 12 September 2024, the ACCC revoked the interim authorisation dated 3 July 2024 and granted a new interim authorisation for an expanded range of conduct with 4 conditions.

    On 11 December 2024, the ACCC issued a draft determination proposing to grant authorisation with conditions until 30 June 2026. Also on 11 December 2024, the ACCC revoked the interim authorisation with conditions dated 12 September 2024 and granted a new interim authorisation with amended conditions.

    On 25 June 2025, the ACCC granted authorisation with 6 conditions which broadly require:

    • the ABA provide regular reports to the ACCC, Reserve Bank and Treasury about discussions, developments and decisions made under the authorisation relating to operational sustainability and Efficiency Measures and the Independent Pricing Mechanism, including any consultation undertaken
    • prior to any operational sustainability and Efficiency Measures being implemented, the ABA to provide a report to the ACCC, the RBA and Treasury which describes the measure in detail and sets out the consultation undertaken with other parties (smaller ABA members, COBA, IGA/Metcash, the Australian Hotels Association and Clubs Australia) about the measure including its potential impact on the accessibility of cash in regional and remote areas
    • discussions, contracts, arrangements or understandings regarding any operational sustainability and Efficiency Measure and/or Independent Pricing Mechanism to occur at, in preparation for, or arise out of, a meeting, meetings or communications of the ABA Weekly Cash SteerCo or a meeting involving the Reserve Bank or Treasury
    • the ABA to ensure that Deloitte (or any alternative independent facilitator) conducts reasonable consultation with specified parties in respect of the development of the Independent Pricing Mechanism prior to any in-principle agreement.

    The authorisation made on 25 June 2025 does not extend to the implementation of any pricing proposal. A further application for authorisation of implementation of the pricing proposal is anticipated once agreement between the Funding parties and Armaguard is reached on the proposal.

    A separate application lodged by the ABA relating to cash-in-transit sustainability measures and business continuity measures remains before the ACCC for consideration.

    MIL OSI News –

  • MIL-OSI: Beneficient Enters into $1.91 Million GP Primary Capital Transaction

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 24, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform AltAccess, today announced it has closed on the financing of a $1.91 million primary capital commitment for Mendoza Ventures Growth Fund III, LP (“Fund”), a fund managed by Mendoza Ventures Growth GP III, L.L.C., LP (“Fund Manager”), an asset manager focused on investing in technology companies where there is an opportunity for innovation, modernization, and disruption.

    The transaction represents Ben’s third GP Primary transaction of the fiscal year and fourth since formally launching the program in late 2024. In exchange for an interest in the Fund, the Fund received approximately $1.91 million in stated value of shares of the Company’s Resettable Convertible Preferred Stock (the “Preferred Stock”), which is convertible at the election of the holder into shares of the Company’s Class A common stock, subject to the terms and conditions of the transaction documents. As a result of the transaction, the collateral for the Company’s ExAlt loan portfolio is expected to increase by approximately $1.91 million of interests in alternative assets. Concurrently, the Company also entered into a Preferred Liquidity Provider Program Agreement with the Fund, whereby the Company may facilitate ongoing liquidity solutions for the Fund and its limited partners.

    “We are excited to continue recent momentum by completing another GP primary capital transaction, our second transaction with a fund managed by the Fund Manager,” said Beneficient management. “We will continue to pursue additional opportunities that align with our strategic vision and growth objectives.”

    Beneficient’s GP Primary Commitment Program is focused on providing primary capital solutions and financing anchor commitments to general partners during their fundraising efforts while immediately deploying capital into our equity. Through the program, Beneficient seeks to help satisfy the up to $330 billion of potential demand for primary commitments to meet fundraising needs.

    About Beneficient 
    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote® tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.         
    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner. 

    For more information, visit www.trustben.com or follow us on LinkedIn. 

    Contacts
    Matt Kreps: 214-597-8200, mkreps@darrowir.com
    Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
    Investor Relations: investors@beneficient.com

    Important Information and Where You Can Find It
    This press release may be deemed to be solicitation material in respect of a vote of stockholders to approve the issuance of the Company’s Class A common stock upon conversion of the Preferred Stock (the “Transactions”). In connection with the requisite stockholder approval, Ben will file with the Securities and Exchange Commission (the “SEC”) a preliminary proxy statement and a definitive proxy statement, which will be sent to the stockholders of Ben, seeking such approvals related to the Transactions.

    INVESTORS AND SECURITY HOLDERS OF BEN AND THEIR RESPECTIVE AFFILIATES ARE URGED TO READ, WHEN AVAILABLE, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTIONS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BEN AND THE TRANSACTIONS. Investors and security holders will be able to obtain a free copy of the proxy statement, as well as other relevant documents filed with the SEC containing information about Ben, without charge, at the SEC’s website (http://www.sec.gov). Copies of documents filed with the SEC by Ben can also be obtained, without charge, by directing a request to Investor Relations, Beneficient, 325 North St. Paul Street, Suite 4850, Dallas, Texas 75201, or email investors@beneficient.com.

    Participants in the Solicitation of Proxies in Connection with Transactions
    Ben and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the requisite stockholder approvals under the rules of the SEC. Information regarding Ben’s directors and executive officers is available in its annual report on Form 10-K for the fiscal year ended March 31, 2024, which was filed with the SEC on July 9, 2024 and certain current reports on Form 8-K filed by Ben. Other information regarding the participants in the solicitation of proxies with respect to the Transactions and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

    Not an Offer of Securities
    The information in this communication is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities. The securities that are the subject of the Transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

    Forward Looking Statements
    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Transactions. The words ”anticipate,” “believe,” ”continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” ”plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others: the ultimate outcome of the Transactions, including obtaining the requisite vote of securityholders, and the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI New Zealand: Legislation passed to secure the NZ racing industry future

    Source: New Zealand Government

    Racing Minister Winston Peters says the passage of legislation today will ensure the sustainability of the racing industry in New Zealand.

    The amendments to the Racing Industry Act 2020 will enable the TAB NZ to be the sole legal provider of online sports and racing betting in New Zealand. 

    “The racing industry generates $1.9 billion for the economy and employs 13,500 people across the country.

    “Racing and sports have a special place in communities throughout New Zealand. With the rapid growth in online betting, we needed to make changes to protect TAB NZ’s betting revenue to support the progress of the industry,” Mr Peters says.

    “TAB NZ is the core funding source for New Zealand’s racing industry and contributes vital funding to a variety of sports codes. This legislation redirects New Zealand punters’ dollars for the benefit of the racing industry and sports here, rather than overseas commercial operators.”

    “It also means all sports and racing betting in New Zealand will now be in a fully regulated environment.”

    The Bill introduces regulation-making powers for harm minimisation and provides a regulatory backstop to ensure that consumer obligations are met. This provides flexibility to adapt to any future changes in the racing and sports betting environment. 

    “Increased ministerial and regulatory oversight will be in place to ensure TAB NZ operates with integrity. If TAB NZ’s performance does not meet expectations, action can be taken to uphold the protection of consumers.”

    “This legislation comes at an important time for the racing industry, with TAB NZ’s announcement of the establishment of an advisory committee of industry leaders. This will encourage connections and opportunities for TAB NZ to explore with the industry.”

    “I am supportive of the industry taking the initiative to enhance industry development,” Mr Peters says. 

    MIL OSI New Zealand News –

  • MIL-Evening Report: Nearly half of Kiwis oppose automatic citizenship for Cook Islands, says poll

    By Caleb Fotheringham, RNZ Pacific journalist

    A new poll by the New Zealand Taxpayers’ Union shows that almost half of respondents oppose the Cook Islands having automatic New Zealand citizenship.

    Thirty percent of the 1000-person sample supported Cook Islanders retaining citizenship, 46 percent were opposed and 24 percent were unsure.

    The question asked:

    • The Cook Islands government is pursuing closer strategic ties with China, ignoring New Zealand’s wishes and not consulting with the New Zealand government. Given this, should the Cook Islands continue to enjoy automatic access to New Zealand passports, citizenship, health care and education when its government pursues a foreign policy against the wishes of the New Zealand government?
    • READ MORE: Other Cook Islands reports

    Taxpayers’ Union head of communications Tory Relf said the framing of the question was “fair”.

    “If the Cook Islands wants to continue enjoying a close relationship with New Zealand, then, of course, we will support that,” he said.

    “However, if they are looking in a different direction, then I think it is entirely fair that taxpayers can have a right to say whether they want their money sent there or not.”

    But New Zealand Labour Party deputy leader Carmel Sepuloni said it was a “leading question”.

    ‘Dead end’ assumption
    “It asserts or assumes that we have hit a dead end here and that we cannot resolve the relationship issues that have unfolded between New Zealand and the Cook Islands,” Sepuloni said.

    “We want a resolution. We do not want to assume or assert that it is all done and dusted and the relationship is broken.”

    The two nations have been in free association since 1965.

    Relf said that adding historical context of the two countries relationship would be a different question.

    “We were polling on the Cook Islands current policy, asking about historic ties would introduce an emotive element that would influence the response.”

    New Zealand has paused nearly $20 million in development assistance to the realm nation.

    Foreign Minister Winston Peters said the decision was made because the Cook Islands failed to adequately inform his government about several agreements signed with Beijing in February.

    ‘An extreme response’
    Sepuloni, who is also Labour’s Pacific Peoples spokesperson, said her party agreed with the government that the Cook Islands had acted outside of the free association agreement.

    “[The aid pause is] an extreme response, however, in saying that we don’t have all of the information in front of us that the government have. I’m very mindful that in terms of pausing or stopping aid, the scenarios where I can recall that happening are scenarios like when Fiji was having their coup.”

    In response to questions from Cook Islands News, Cook Islands Prime Minister Mark Brown said that, while he acknowledged the concerns raised in the recent poll, he believed it was important to place the discussion within the full context of Cook Islands’ longstanding and unique relationship with New Zealand.

    “The Cook Islands and New Zealand share a deep, enduring constitutional bond underpinned by shared history, family ties, and mutual responsibility,” Brown told the Rarotonga-based newspaper.

    “Cook Islanders are New Zealand citizens not by privilege, but by right. A right rooted in decades of shared sacrifice, contribution, and identity.

    “More than 100,000 Cook Islanders live in New Zealand, contributing to its economy, culture, and communities. In return, our people have always looked to New Zealand not just as a partner but as family.”

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: News 06/24/2025 Blackburn, Blumenthal, Lee, Klobuchar, and Durbin Introduce Bipartisan Antitrust Bill to Promote App Store Competition

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.), Richard Blumenthal (D-Conn.), Mike Lee (R-Utah), Amy Klobuchar (D-Minn.), and Dick Durbin (D-Ill.) introduced the bipartisan Open App Markets Act, which would set fair, clear, and enforceable rules to promote competition and strengthen consumer protections within the app market. Google and Apple currently have gatekeeper control of the two dominant mobile operating systems and their app stores that allow them to exclusively dictate the terms of the app market, inhibiting competition and restricting consumer choice.

    “The days of Big Tech’s anticompetitive, price-gouging business practices are over;” saidSenator Durbin. “Our bipartisan Open App Markets Act places important limits on dominant gatekeeping companies in the app store market, like Apple and Google. These clear, fair, and enforceable rules will open the app markets back up to competition and give consumers more choices. I look forward to working with Republicans and Democrats to make it law.”
    BACKGROUND
    Mobile devices are central to consumers’ economic, social, and civic lives, and the mobile app market is a significant part of the digital economy. In 2024 alone, consumers worldwide spent 92 billion U.S. dollars on the Apple App Store, and about 35.7 billion U.S. dollars on the Google Play Store.
    Both Apple and Google have appeared to use their powerful gatekeeper control to stifle competition in the app store market.
    Apple has prevented the creation of third-party app stores on iPhones, required that apps exclusively use their own expensive payment system, and penalized app developers for telling users about discounted offers.
    These strict terms close off avenues of competition and drive up prices for consumers.
    Startups also face serious challenges when Big Tech gatekeepers are able to prioritize their own apps to the disadvantage of others, make use of competitors’ confidential business information, and block developers from using features on a consumer’s phone.
    THE OPEN APP MARKETS ACT
    The Open App Markets Act would:
    Protect developers’ rights to tell consumers about lower prices and offer competitive pricing;
    Protect sideloading of apps;
    Promote competition by opening the market to third-party app stores, startup apps, and alternative payment systems;
    Make it possible for developers to offer new experiences that take advantage of consumer device features;
    Give consumers greater control over their devices;
    Prevent app stores from disadvantaging developers; and
    Establish safeguards to preserve consumer privacy, security, and safety.
    Click here for bill text.
    ENDORSEMENTS
    The Open App Markets Act is endorsed by numerous technology and consumer groups, including Spotify, the American Economic Liberties Project, the American Principles Project, Epic Games, the Bull Moose Project,  the Coalition for App Fairness, Consumer Action for a Strong Economy, the Digital First Project, the Digital Progress Institute, The Ethics and Public Policy Center, the Foundation for American Innovation, the Internet Accountability Project, the National Security Institute, Proton, Public Knowledge, Tech Oversight Project, and Y Combinator:

    “We applaud Senators Blackburn and Blumenthal for reintroducing the Open App Markets Act, continuing the fight for a free and fair internet in the United States. This bill takes a targeted, strategic approach that will create more economic opportunity, unlock innovation, reduce barriers for businesses and creators, and give American consumers lower prices and more control over purchases made through their iPhones,” said Dustee Jenkins, Spotify Chief Public Affairs Officer.

    “Hundreds of billions of dollars pass through mobile app stores annually, and both Apple and Google have gone to extraordinary, illegal lengths to make sure they are the only stores in town, stealing untold billions from developers and consumers in the process. While Apple and Google drag out their appeals in federal court, the Open App Markets Act would tear down walled gardens, stimulate innovation, and protect developers and consumers from unfair app store taxes today,” said Lee Hepner, Senior Counsel, American Economic Liberties Project.

    “The American Principles Project strongly supports the Open App Markets Act as essential legislation to protect American families from Big Tech’s monopolistic control. Apple and Google’s stranglehold over the app marketplace has created a rigged system that stifles economic opportunity for small businesses and undermines free expression online. This legislation will restore free market principles while ensuring that families have access to diverse viewpoints and applications that reflect their values. The current 30 percent tax imposed by these gatekeepers amounts to corporate welfare for Big Tech at the expense of Main Street America, and it’s time for Congress to stand with American families and small businesses against Silicon Valley’s unchecked power,” stated the American Principles Project.

    “The Open App Markets Act is a must-pass bill that would force Apple and Google to end their anticompetitive mobile app store practices. Apple and Google’s unfair terms and exorbitant fees stifle competition and crush innovation, hurting developers and consumers alike. We look forward to swift passage of this bill and an open mobile app ecosystem in the U.S. with alternative app stores and in-app payment systems,” said Bakari Middleton, VP of Public Policy at Epic Games.

    “The future of digital innovation depends on fair access—not corporate gatekeeping. The Open App Markets Act is a crucial step towards breaking the stranglehold of Big Tech, levels the playing field, and puts power back where it belongs: with users and creators,” stated the Bull Moose Project.

    “CAF commends Senators Blackburn and Blumenthal for introducing the Open App Markets Act and Senators Lee and Klobuchar for co-sponsoring the bill. This groundbreaking, bipartisan legislation will open up Apple and Google’s mobile walled gardens to long-overdue competition. By banning harmful and anti-competitive practices, the bill would lead to lower prices and more choice  in how apps are accessed and distributed. Thanks to a recent court decision, US consumers are already benefiting from app developers offering alternative ways to make purchases. But legislation is needed to fully unlock the potential of the mobile app economy and unleash a competitive marketplace that benefits users and developers alike. We are grateful to Senators Blackburn and Blumenthal for their enduring leadership on these issues, and we encourage swift passage of this vital bill,” said Gene Burrus, Global Policy Counsel for the Coalition for App Fairness.

    “Imagine a fisherman sailing on a vast ocean yet having only two fishing poles from which to choose. This is our current mobile economy: vast seas of information, data, and innovation accessible only through the iron grip of the app-store duopoly of Google and Apple, who continue to game the rules in their favor. It’s time to open the digital high-seas for developers large and small, to spark more free-market innovation for America’s consumers and for our position as the global leader in digital technology,” stated Consumer Action for a Strong Economy.

    “Our team at Digital First Project is proud to support the reintroduction of the Open App Markets Act. This essential reform is a crucial step toward restoring competition and fairness in the digital marketplace by ending the gatekeeper control of dominant app store platforms such as Google and Apple. By promoting consumer choice and giving developers more freedom, this proposal fosters innovation among app developers and enables more choice for consumers,” stated theDigital First Project.

    “Apple and Google are the choke points of the mobile ecosystem and their Herculean control over app stores is at the heart of it. OAMA is a bipartisan, responsible approach to ensure the innovation economy can flourish and not be bridled by Big Tech. This is a welcomed and needed reform!” stated the Digital Progress Institute.

    “For years, Apple and Google have failed to protect children from harmful content on their app stores. Even worse, they have promoted inappropriate apps to children in their stores. But because of their market power, parents and children have no alternatives in the mobile ecosystem. The Open App Markets Act would enable different app stores and app distribution methods that cater to the specific needs of families. OAMA would critically allow for family-friendly and child-safe app stores to arise as competitors to give parents alternative options that better protect kids. I commend Senators Blackburn and Blumenthal for this effort and their continued leadership in protecting children from digital harms,” said Clare Morell, Fellow at The Ethics and Public Policy Center.

    “Apple and Google are the gatekeepers to the mobile ecosystem, and they have continually abused that power. Their app store monopoly rents are an effective tax on the entire app economy, and other anti-competitive practices have further limited choice and innovation. The Open App Markets Act would help lift the millstone that Apple and Google put on consumers and developers by bringing much-needed competition to mobile app stores and app distribution. I commend Senators Blackburn, Blumenthal, Lee, and Klobuchar for their leadership and urge all members of Congress to join this effort,” said Evan Swarztrauber, Senior Fellow at the Foundation for American Innovation.

    “The reintroduction of the Open App Markets Act is another crucial step in the battle to rein in the unchecked power of Big Tech. Senators Blackburn and Blumenthal deserve credit for their continued bipartisan leadership and commitment to restoring fairness and competition in the app marketplace. Apple and Google have operated as unaccountable, monopolistic gatekeepers on the app store market for far too long. This bill would finally give small businesses and entrepreneurs a real shot to compete. The Internet Accountability Project proudly supports this legislation that stands up for fairness and competition,” stated the Internet Accountability Project.

    “I have observed in my doctoral thesis of 2017 that there is a de facto app store duopoly between Apple and Google, controlling which apps are seen and under which conditions. Whether an app can even be found requires an investment in app store optimization (ASO). App developers have only two means to access end users, and there is limited competition on the conditions, leaving app developers as price takers. While there are benefits of centralization of app markets, there are tradeoffs in privacy and choice. In any event, the scale of such concentration would bring regulatory scrutiny in any other industry. The two app stores have enjoyed a relative regulatory free ride for a long time. Few policymakers have been interested in taking on this behemoth. Hence I applaud Senator Blackburn and Senator Blumenthal for their leadership,” said Roslyn Layton, PhD, Senior Fellow at the National Security Institute.

    “App stores are the lifeblood of all digital companies, including disruptors like Proton. Gatekeepers like Apple and Google have been consolidating market power in their app marketplaces for years, ultimately to the detriment of consumers. They have exploited their control to impose extortionate conditions on developers, like compelling use of their own payment systems and charging 30% transaction fees. This amounts to a massive tax on the Internet, one that often gets passed onto consumers through higher prices or reduced investment in competitive innovations. Ending these monopoly abuses on mobile payments would not only create fairer prices, but also promote competition while benefiting developers and consumers alike. Proton applauds Senators Blumenthal, Blackburn, and X for recognizing these realities, and drafting a bill that would unleash a seismic level of innovation,” said Andy Yen, Founder & CEO of Proton.

    “Too often, the tech giants have controlled the app marketplace, dictating who gets access and under what terms. The Open App Markets Act represents a much-needed shift toward a more competitive, open ecosystem where developers are empowered to innovate and users are the ultimate beneficiaries. We need policies that prioritize security, transparency, and choice, rather than allowing corporations to dictate the rules. It’s time for users, not Big Tech, to decide what apps thrive in the marketplace. This bill is a step toward restoring market fairness and putting users back in the driver’s seat,” stated Public Knowledge.

    “Google and Apple’s app store monopolies have not only artificially inflated prices, they’ve also blocked new and innovative products from hitting the market. Their gatekeeping has been a drag on our entire economy, and it’s time to make their monopolies illegal. The Open App Markets Act will help dislodge app store monopolies, lower prices, and build a better, more open internet,” said Sacha Haworth, Executive Director of the Tech Oversight Project.

    “This bipartisan legislation ends the practice of dominant app stores forcing their own payment systems and self-preferencing, while giving consumers the freedom to install and set third-party stores and payment options—common-sense rules already embraced in other markets. Enacting it will spur competition, lower prices, and unleash a new wave of American innovation that keeps our startup ecosystem the most dynamic in the world,” said Luther Lowe, Head of Public Policy for Y Combinator.
    RELATED

    MIL OSI USA News –

  • MIL-OSI China: Kenya holds forum to promote Sino-African agricultural, industrial cooperation

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

    Hamadi Boga, vice president of Alliance for a Green Revolution in Africa (AGRA), delivers a speech during the inaugural Africa-China Forum on Agri-Tech and Industrial Cooperation in Nairobi, Kenya, on June 24, 2025. [Photo/Xinhua]

    The inaugural Africa-China Forum on Agri-Tech and Industrial Cooperation took place on Tuesday in the Kenyan capital, Nairobi.

    The day-long conference was hosted by Nairobi-based Alliance for a Green Revolution in Africa (AGRA), Beijing Jingwa Agricultural Science and Technology Innovation Center, the International Livestock Research Institute and the Finance Center for South-South Cooperation.

    Ibrahim Mayaki, African Union special envoy for food systems, said the continent stands to gain from emulating China’s model of agricultural transformation, driven by forward-looking policies, technology and innovations.

    “We can leverage China’s successes in agricultural modernization, rural transformation and poverty alleviation as reference points for Africa’s own agricultural renaissance, while recognizing the specificity of African ecosystems and cultures,” Mayaki said.

    Mayaki stressed that joint research between China and Africa in climate-smart farming practices, development of high-yielding crops, modern irrigation technologies and digital extension services could offer lasting solution to hunger, rural poverty and malnutrition affecting the world’s second-largest continent.

    Hamadi Boga, vice president of AGRA, noted that China has set the pace in technology- and innovation-led agricultural modernization, inspiring African nations to follow suit, feed their growing population and leapfrog into an industrial era.

    The Sino-African agricultural cooperation, according to Boga, has rapidly evolved as witnessed by technology transfer, establishment of demonstration zones, exchange visits and institutional collaboration, boosting crop yield, agro-processing and exports.

    Boga also called on African research institutions to forge long-term partnership with their Chinese counterparts to accelerate an inclusive food systems transformation, rooted in improved soil health, climate resilience, access to finance, technologies and markets.

    Chinese Ambassador to Kenya Guo Haiyan said China is keen to share with Africa’s bilateral partners its home-grown technologies, innovations, experience and best practices, which could hasten the continent’s agricultural modernization to realize food security and boost export competitiveness.

    Guo noted that China-Africa agricultural cooperation has prioritized technology transfer, facilitating trade in agricultural commodities and upgrading value chains for farm produce.

    In addition, China has partnered with African countries to enhance response to crop pests and diseases, capacity building for extension workers and farmers, deployment of technologies for scaling up agro-processing and value addition, Guo added. 

    MIL OSI China News –

  • MIL-OSI China: 2025 Summer Davos sees sustainability and AI meet global collaboration

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

    Guests attend the parallel session “Checking In on the Energy Transition” during the 2025 Summer Davos Forum at the National Convention and Exhibition Center (Tianjin) in north China’s Tianjin Municipality, June 24, 2025. [Photo/Xinhua]

    A premier barometer of global economic trends and industrial transformation, the 2025 Summer Davos Forum has seen record attendance for recent years, with over 1,700 participants traveling from around the world.

    Its popularity is testament to both the convening power of the event, which is taking place from Tuesday to Thursday in north China’s Tianjin Municipality, and the unparalleled magnetism of China’s mega-scale market.

    Also called the 16th Annual Meeting of New Champions of the World Economic Forum (WEF), this year’s forum is themed “Entrepreneurship for a New Era.”

    “The theme, which builds on the DNA of this meeting since its inception, particularly focuses on how innovation, entrepreneurship and technological advancements can unlock growth, competitiveness and productivity,” Mirek Dusek, managing director of the WEF, said on Tuesday at the forum’s opening press conference.

    The event spotlights five key areas: deciphering the world economy, outlook on China, industries disrupted, investing in people and the planet, and new energy and materials.

    Unlike the annual meeting of the WEF held every January in Switzerland’s Davos, the Summer Davos Forum places greater emphasis on the future of business and technological advancement. This year’s edition not only demonstrates China’s achievements in high-quality economic development and its steadfast commitment to high-standard opening-up to the international community — it is also a platform for China to actively share the opportunities and dividends of its development with the world.

    Green transformation 

    On the rooftop of the National Convention and Exhibition Center (Tianjin), where the 2025 Summer Davos Forum is being held for the first time, solar panels supply continuous clean energy to power the venue during the event.

    According to the State Grid Corporation of China, this edition of the forum has achieved a 100 percent green power supply for its venues, utilizing a total of 800,000 kilowatt-hours of renewable electricity — equivalent to saving about 300 tonnes of standard coal combustion and cutting approximately 600 tonnes of carbon emissions.

    The venue utilizes photovoltaic power generation and sponge city technologies, replacing conventional energy sources with renewables to reduce infrastructure carbon emissions, while significantly enhancing energy, water and material efficiency.

    Sustainability is at the core of WEF events, said Severin Podolak, head of event management and operations for WEF, adding that the sofas and other furniture used in the venues are recycled materials from 2023, and some of the paints used for decoration were derived from renewable resources such as fishing nets.

    Additionally, a fleet of hundreds of new energy vehicles (NEVs) from six leading carmakers, including Audi FAW, are facilitating eco-conscious transportation for forum participants, advancing the event’s carbon neutrality goals.

    The concept of sustainability has been integrated thoroughly — from venue design to the forum’s agenda, with key topics such as Asia’s carbon markets and the next steps for climate resilience becoming focal points of discussions, addressing sustainable development directly.

    Green nitrogen fixation has been named in the WEF’s Top 10 Emerging Technologies of 2025, alongside innovations like collaborative sensing and autonomous biochemical sensing, further solidifying sustainability as a global priority.

    Today, China stands as the global leader in renewable energy investment. The nation has pioneered transformative technologies in the fields of batteries and electric vehicles, creating millions of high-quality jobs in these future-oriented sectors, according to Gim Huay Neo, managing director of the WEF.

    “I think this is an area where there’s a lot of scope for us to learn from China’s experience, where there could actually be constructive partnerships between China and other parts of the world to also support the global energy transition,” Neo said. “The climate emergency and the planetary crisis cannot be resolved if we do not bring everybody along on this journey.”

    AI revolution

    A futuristic exhibition zone at the venue has become a major attraction, where cutting-edge AI products like humanoid robots, brain-computer interfaces and fully autonomous drone inspection systems are drawing large crowds of attendees. These innovations vividly showcase Chinese enterprises’ technological breakthroughs and pioneering applications of AI.

    “China may have found the key to restarting global economic growth — its ‘AI Plus’ strategy,” said Liu Gang, chief economist of the Chinese Institute of New Generation Artificial Intelligence Development Strategies.

    He explained that integrating artificial intelligence with the real economy yields remarkable economic benefits. For example, research conducted by his team shows that applying AI to the development of new materials can improve efficiency 100-fold to 1,000-fold.

    Across various sessions at the 2025 Summer Davos, discussions on AI are unfolding with remarkable intensity, mirroring the fervent debates witnessed at other premier global forums. Notably, a dedicated session titled “Understanding China’s approach to AI” will be convened, underscoring the international community’s growing recognition of China’s pivotal role in the global AI development landscape.

    “It will be like the industrial revolution,” former British Prime Minister Tony Blair said when talking about new technologies at the forum. Countries that embrace it go up, and countries that don’t go down, he said.

    “I think how you understand, master and harness the technology revolution solution is the single biggest government challenge for the 21st century,” he noted.

    Global synergy 

    According to the WEF, the global growth outlook has reached its lowest point in decades. Reigniting the spirit of cooperation will require greater commitment and creativity than ever before.

    Professor Tong Jiadong at Nankai University, who has served as the long-term Chinese agenda research leader for the Tianjin Summer Davos Forum, observed that the event has evolved beyond a premier global thought leadership summit into a dynamic platform facilitating international exchange and cooperation.

    Zhao Yan, chairman and general manager of Chinese firm Bloomage Biotech, has been a regular participant at the Summer Davos Forum. Over the years, the company has established a comprehensive global supply chain network across over 70 countries and regions.

    “Despite navigating complex uncertainties, the enterprise has never resorted to isolationism, but instead strives to reshape global competition rules through open innovation,” Zhao said.

    In the first five months of this year, the total volume of China’s imports and exports of goods grew 2.5 percent year on year, and the consumption enthusiasm of foreign visitors surged significantly.

    “We value our cooperation with China very much. We’re seeing more and more interest and participation coming here,” said Borge Brende, president and CEO of the WEF. “I’m relatively optimistic for the Chinese economy, both in medium term and long term.”

    MIL OSI China News –

  • MIL-OSI Video: Safeguarding Growth Engines

    Source: World Economic Forum (video statements)

    Safeguarding Growth Engines

    Emerging markets, notably in Asia, remain key drivers for growing the world’s economy, yet oncoming headwinds, such as tariffs, deregulation and a potential resurgence in inflation, could have a negative impact.

    How are the fastest-growing economies preparing for potential disruptions and what are they doing to ensure long-term stability?

    https://www.youtube.com/watch?v=qra89D-VyhQ

    MIL OSI Video –

  • MIL-OSI USA: Lummis Celebrates Passage of Stablecoin Legislation 

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    June 17, 2025

    Washington, D.C. – U.S. Senator Cynthia Lummis (R-WY) released the following statement after the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Actpassed the United States Senate by a 68 to 30 vote.

    “Today the Senate took a critical step toward securing U.S. Dollar dominance and promoting our continued leadership in financial innovation by passing the bipartisan GENIUS Act,” said Lummis. “The Senate must immediately turn to passing comprehensive market structure legislation which will build on the initial step the Senate has taken today.  I want to congratulate Senator Hagerty for this great bipartisan achievement, and thank Leader Thune and Chairman Scott for their commitment to advancing commonsense regulations for digital assets. I look forward to seeing this important legislation get across the finish line.”

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy on rescissions: “All the president is asking us to do is cut the spending porn from the budget.”

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    Watch Kennedy’s comments here.

    WASHINGTON – Sen. John Kennedy (R-La.) today delivered the following remarks on the Senate floor:

    On reconciliation:

    “We’re working hard on reconciliation. I suspect we’re going to have a bill before us here in a few days. It’s very important, it does a lot. . . . If we pass this bill, it will be the largest tax cut in the history of America. But the converse is also true. If we don’t pass this bill, it will be the largest tax increase on the American people in the history of America. 

    “So, there are two doors here. Door number one: Pass it. Largest tax cut in the history of America. Door number two: Don’t pass it. Largest tax increase—$4.3 trillion. That’s how much taxes will go up on ordinary Americans. Not just the rich. I know they’re going to tell you that. It’s just the rich. No, it’s not. It’s ordinary Americans. It’s every American.

    “If we don’t pass this bill, you raise taxes $4.3 trillion on 300-plus million Americans, and you watch this economy go down like a fat guy on a seesaw. We don’t have a choice.”

    On rescissions:

    “The president has sent to us a rescission package. It’s $9.4 billion, as you know, Mr. President. The president is asking us to remove spending that Congress appropriated for areas in foreign aid and for public broadcasting. I want to talk about the foreign aid part. 

    “We’re going to have plenty of time to debate whether we ought to agree with the president, but I want the American people to understand the type of spending porn that the president is asking to take out of Congress’ budget.

    “The Honorable Jodey Arrington, who is a congressman—a damned good one too—he’s chairman of the House Budget Committee. The congressman put together just a few items in the foreign aid spending provisions that the president is asking us to remove. This list is illustrative. It’s not exhaustive.

    “I just wanted to point a couple of these programs out. Again, this is spending the president is asking us to revoke. You be the judge, folks. It’s your money. The American people can decide whether we ought to spend their money on this or take it out, as the president has requested.

    “I know Congress is not blameless, believe me. But we didn’t approve these specific items of expenditure. We approved the amounts and the general subject areas, like foreign aid. The bureaucrats did the rest.

    “I didn’t know there was any such thing as an environmentally unfriendly reproductive health decision. $167,000 the bureaucracy has spent or is proposing to spend on free education and health care to migrants in Ecuador and Venezuela. $67,000 to provide insect powder to children in Madagascar.

    “Mr. President, have you ever had insect powder? Don’t answer that. I don’t think I’m even supposed to be asking you under the Senate rules. But I haven’t had it. . . . The bureaucracy wants to spend $5.1 million to strengthen the ‘resilience of LGBTQ global movements, and the president asked us to take it out. $833,000 for services for transgender people, sex workers, and their clients and sexual networks in Nepal. $643,000 for LGBTQIA programs in the western Balkans. $567,000 for LGBTQIA programs in Uganda. $33,000 for being LGBTQIA in the Caribbean.

    “In the area of the climate, Mr. President, the bureaucrats want to spend—and President Trump wants us to take it out—$6 million appropriated for net-zero cities in Mexico, $2.1 million for climate resilience in Southeast Asia, Latin America and east Africa, $416,700 for climate adaptation, including growing coral reefs, in the Caribbean. $500,000 for Rwanda to buy electric buses. Your money. $8,000 to promote vegan food in Zambia. . . . The bureaucracy wants to spend $1 million on voter ID programs in Haiti. If you know anything about Haiti, it’s a mess. They’re not about to have elections any time soon. $889,000 for electoral reforms and voter education in Kenya.

    “In the area of media arts and culture, the bureaucracy proposes to spend $6 million to support media organization and civic life in Palestine, and $3 million for Iraqi Sesame Street.

    “This is just a taste, Mr. President. This list is illustrative, it’s not exhaustive. So when you see us debating whether we should reduce the federal budget by $9.3 billion, which the House has already decided to do and now it’s our turn, and I say—which I have repeatedly said and will continue to say—is that all the president is asking us to do is cut the spending porn from the budget.

    “You can make up your own mind. It’s your money. If you think we ought to be spending the money on this, encourage us to vote no, but if you think you could spend this money of yours better than the bureaucracy could or we could spend on our kids or our roads or our health care, then encourage us to vote yes.”

    Watch Kennedy’s speech here.  

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Make polluters pay to bring down bills, Greens say 

    Source: Green Party of England and Wales

    / by Green Party

    Responding to the Climate Change Committee’s latest report, co-leader Carla Denyer MP said:

    “Last year fossil fuel giants Shell and BP made a total of £26 billion in profit – while ordinary people struggle every day to pay their energy bills, and the climate crisis takes its toll on communities across the UK. 

     “The Climate Change Committee’s latest report shows some movement in the right direction towards trying to keep us all safe, but the truth is we’re not moving nearly fast enough. Stalling progress means we all have higher bills in cold and leaky homes, while wildfires, extreme heat and flooding put lives and livelihoods at risk. The best time for action was years ago – the next best time is now. 

    “We need urgent action to bring down the cost of electricity more widely, to reduce household bills and keep us all safe from the growing threat from the climate crisis. Instead of handing fossil fuel giants a licence to keep profiting from climate destruction, or wasting money on slow and expensive nuclear projects, now is the time for a national push to roll out energy efficiency, heat pumps, solar panels and battery storage for our homes. 

    “Crucially, it’s time for the government to stop throwing money at the fossil fuel industry and instead make big polluters like Shell and BP pay up. Currently the government subsidises the fossil fuel industry to the tune of a staggering £17.5 billion per year – it’s time to pull the plug and put that money into lowering bills instead.”

    MIL OSI United Kingdom –

  • MIL-OSI Banking: Secretary-General of ASEAN meets with Minister of Industry and Trade of Morocco

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, met with the Minister of Industry and Trade of Morocco, Ryad Mezzour, in Rabat, on 24 June 2025. They discussed ways to strengthen economic ties under the ASEAN-Morocco Sectoral Dialogue Partnership, including in the areas of trade and investment, digital and green economy, among others.

    The post Secretary-General of ASEAN meets with Minister of Industry and Trade of Morocco appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: Speech at 2025 Looking Ahead Infrastructure Symposium: Building Common Ground

    Source: New Zealand Government

    Opening 
     
    Good morning. It’s great to be here today for the release of the draft National Infrastructure Plan – or the NIP.
     
    I’d like to thank Raveen Jaduram, Geoff Cooper, and the entire team at the Infrastructure Commission for hosting this Symposium and for their hard work on putting the NIP together. 
     
    I’d also like to welcome you all to Parliament.
     
    Improving how we plan, fund, maintain and build our infrastructure is critical to lifting productivity, boosting economic growth, and increasing peoples’ living standards.
     
    The government has made infrastructure a top priority.
     
    So, I welcome today’s draft report by the independent Infrastructure Commission.
     
    We need a Plan, and action
     
    As Minister for Infrastructure, I hear regularly that – “what New Zealand needs is a long-term infrastructure plan that transcends political cycles”. 
     
    I agree – a plan will give the private sector more certainty so that they can invest in people and equipment. It will also help New Zealanders build consensus on what our future infrastructure system should look like.
     
    But a plan is only as good as it’s execution. So, the NIP will only be successful if it is – at least in part – accepted and adopted across successive governments over the long term. 
     
    As I’m sure most of you know, this isn’t our first plan; we have been here before. New Zealand had infrastructure plans in 2010, 2011, and 2015.
     
    Some recommendations in these older plans are identical to those put forward in this Plan – over a decade later. 
     
    I’m thinking of things like agencies completing 10-year capital plans and making better use of pricing tools.
     
    What differentiates this Plan is that it has been developed independently by the Infrastructure Commission – separate from the Government of the day.
     
    The NIP is not this Government’s Plan, it is New Zealand’s Plan. 
     
    That is why each political party represented in Parliament was offered a briefing on the NIP last year. And I would like to thank the opposition spokespeople for infrastructure for being here today.
     
    Building greater consensus on infrastructure is, unfortunately, not as simple as different political parties getting in a room and convincing each other of the other’s view.
     
    That’s not realistic. Instead, consensus will be enabled by strong system and institutions, robust investment frameworks, high-quality evidence of our infrastructure needs, and advocacy for projects and policies from a better-informed public.
     
    That’s what this Plan is about – independent experts advising New Zealand on the current state of infrastructure, what we need in the future, and the projects and policy reforms that will bridge this gap in the most effective and value for money way.
     
    People often say we need a bipartisan infrastructure pipeline, as if that will solve all problems.
     
    We do have a robust infrastructure pipeline. The Commission has been running it for over five years, and it’s been progressively improved over that time.
     
    The Pipeline includes over 8,000 initiatives underway and in planning from 114 contributing organisations. It represents over $200 billion in investment value – with over $110 billion of the Pipeline having a funding source confirmed. 
     
    I can’t claim to speak for all the parties in Parliament, but I suspect that almost all of the projects underway right now are supported by everyone. 
     
    It’s the high profile and high-cost disagreements that make the headlines. But it’s the low profile and often low-cost projects that actually make New Zealand.
    A lot of people don’t know we have a pipeline. It’s actually really cool – you can go online and search projects by region, timeline, project status, project value, provider, procurement type, and much more. 
     
    The Commission is strengthening the Pipeline by aiming to cover all infrastructure providers. There are 14 laggard councils who aren’t contributing, and I’ll be writing to them to get them on board. Having visibility over everything that’s happening, and going to happen, is very important.
     
    But I reckon we need to move away from the rhetoric of needing a bipartisan pipeline and instead build bipartisan consensus on the idea that governments of all flavours should use best-practice to plan, select, fund and finance, deliver, and look after infrastructure.
     
    That’s not the case at the moment.
     
    We need change
     
    It is quite clear that our infrastructure system needs to change. It’s one of my biggest takeaways from our first 18 months in government. I’ve been shocked at the near systemic neglect of the underlying institutional settings and policy frameworks. 
     
    Contrary to many perceptions, New Zealand spends a lot on infrastructure. 
     
    We are in the top 10 per cent of the OECD for infrastructure investment over the last decade – but in the bottom 10 per cent when it comes to getting quality and “bang for buck” from our spending. 
    The cause of our problem is not isolated – it is spread across every stage of a project’s life, across different players in the system, and is perpetuated by decades of poor practice across successive governments. 
     
    Over the last few years, New Zealanders have seen and felt the consequences of poor practice including:

    assets that are wearing out and failing,
    project cost blowouts,
    poor value for money investments, and
    a growing infrastructure deficit.  

     
    If we keep doing things the way we are now, we won’t be able to deal with “business as usual”, let alone get a grip on the challenges we are facing like:

    a significant backlog of maintenance and renewal activity,
    population change,
    natural hazards,
    and global inflation. 

     
    To put this in perspective – over the next 30 years, every year, central government’s existing infrastructure assets is expected to wear out by $9.3 billion.
     
    To keep up with this and other challenges, as the Commission says, we need to “lift our game”.
     
    Taking action
     
    Over the last 18 months I’ve been focused on six priorities as Infrastructure Minister:
     
     

    Developing a 30-year National Infrastructure Plan,
    Establishing National Infrastructure Funding and Financing Ltd (NIFFCo),
    Improving infrastructure funding and financing
    Improving the consenting framework
    Improving education and health infrastructure, and
    Strengthening asset management.

     
    I didn’t pick these priorities randomly. They reflect findings and recommendations from the Infrastructure Commission’s Infrastructure Strategy, developed in 2022, and are also based on a big programme of work we undertook in opposition engaging with experts from here and overseas.
     
    I am really pleased to see that many of the recommendations of the draft NIP reflect these priorities. This indicates that as a government we’re heading in the right direction.
     
    I want to mention a few in particular as they pick up on a few themes coming through in the draft NIP.
     
    Improving infrastructure funding and financing 
     
    Let’s start with improving infrastructure funding and financing. 
     
    Public infrastructure in New Zealand has historically been primarily funded by taxpayers or ratepayers. 
     
    But our reliance on this blunt approach is not serving us well and has led to perverse outcomes including congestion, run-down assets, and the unresponsive provision of enabling infrastructure – contributing to unaffordable housing.
     
    Last year, we released a suite of new and improved frameworks and guidance including:
     

    Treasury’s new Funding and Financing framework,
    The Government’s refreshed PPP policy,
    Strategic Leasing Guidance, and
    Guideline for Market Led Proposals. 

     
    The purpose of these documents is to help the Government use its balance sheet more strategically, apply good commercial disciplines to investment, and be a more sophisticated client of infrastructure. 
     
    This year, I have focused on establishing new funding and financing tools. In February, I announced five specific changes to New Zealand’s funding and financing toolkit to make it easier for councils and central government to provide infrastructure to support urban growth. 
     
    I won’t cover these in detail today, but the key takeaway is that we are moving to a system and to tools where councils can fully recover the costs of housing growth, and where infrastructure providers can recover costs of significant and city-shaping projects.  
     
    I am happy to see the draft National Infrastructure Plan make recommendations that align with our Government’s direction on funding and financing – such as making better use of pricing, user charging, and beneficiary pays.
     
    Improving the consenting framework
     
    Secondly, our consenting environment.
     
    As successive reports from the Commission have noted, our consenting system for infrastructure is broken.
     
    It takes too long and costs way too much.
     
    We are on track to replace the RMA with new legislation next year. Our new system will be effects based, embrace standardisation, and be far more permissive and enabling – while also protecting the environment. 
     
    We also aren’t willing to wait for a growth-enabling planning system, so in the meantime, last year we introduced the Fast Track Approvals Act. It’s underway now.
     
    We’re consulting right now on a big programme of National Direction changes under the RMA, including developing a National Policy Statement on Infrastructure. It’s baffling that we haven’t had one.
     
    We are also progressing our second RMA amendment Bill, which will pass into law in a matter of weeks. 
     
    This Bill is a precursor to full replacement of the RMA and will make it quicker and simpler to consent renewable energy and boost housing supply.
     
    Strengthening asset management 
     
    Lastly, before we move onto the draft Plan – I want to talk about my strengthening asset management.
     
    Asset management may not be the sexiest aspect of the infrastructure system – as it has to compete with new, big, and exciting projects – but everyone knows, if you don’t paint the weatherboards on your house, the wood will rot. 
     
    And billion-dollar infrastructure is fundamentally no different.
     
    Last year, I was shocked and quite frankly embarrassed to hear that New Zealand ranks fourth to last in the OECD for asset management, and dead last for the metric on Accountability and Professionalism. 
     
    But this is not surprising when you look at the performance of our central government investment system.
     
    Over half of all capital-intensive government agencies do not have robust, comprehensive asset registers or asset management plans in place. Maintenance spending is also regularly diverted to building new infrastructure, resulting in costly catch-up spending later. 
     
    Years of poor asset management has led to leaky hospitals and schools, mould in police stations and courthouses, service outages on commuter rail, and poor accommodation for Defence Force personnel and their families. 
     
    This is not good enough.
     
    In May this year, Cabinet agreed to a comprehensive work programme that will improve asset management practice across central government.
     
    The aim of this work is to provide safer, longer lasting and more reliable and resilient infrastructure services; and to achieve better value for money by making the most of what we have.
     
    This work programme will take place across two phases and will be led by Treasury and the Infrastructure Commission. 
     
    Phase 1 is about giving agencies better tools to help them succeed. This includes detailed guidance that agencies will need to follow on asset management; long-term planning; and related performance, assurance, and accountability indicators
     
    Phase 2 is about driving more fundamental changes to system settings and will actually be informed by the National Infrastructure Plan – particularly Chapters 4, Setting up Infrastructure for Success; and Chapter 5, Driving Excellence from the Core.
     
    Draft National Infrastructure Plan
     
    So, let’s talk about the National Infrastructure Plan. 
     
    I haven’t had a chance to read the document in full as it was released today – but three things instantly stood out to me:
     

    The first is the Needs Analysis, or “Forward Guidance”,
    The second is the Infrastructure Priorities Programme, which InfraCom has put in Chapter 6, and
    The third is how we can change the Investment Management System to get better infrastructure outcomes.

     
    Forward guidance
     
    On the Forward Guidance, it was interesting to see how our investment mix will need to change to meet future demand. 
     
    While total spend on infrastructure will increase, the relative priority between sectors will change overtime. 
    This is due to long-term trends that boost demand for some infrastructure and reduce it for others. For example, an aging population will increase relative demand for healthcare and hospitals; and decrease relative demand for education services and schools. 
     
    The Commission suggests that over the next 30 years hospitals, social housing, and electricity and gas sectors should all experience a rising share of infrastructure investment.
     
    I also found it helpful that the Commission’s Forward Guidance outlines a rough indication of how much we should expect to be spending by sector.
     
    In my view, forward guidance would be significantly strengthened in future if all agencies had provided the Commission with 10-year capital investment plans and asset management plans. This way, the Commission could provide more detailed and specific guidance on what bundle of projects across all sectors governments should be prioritising. 
     
    Infrastructure Priorities Programme 
     
    Moving on to the Infrastructure Priorities Programme, or the IPP – which is a structured independent review of unfunded infrastructure proposals. 
     
    The IPP is just starting out and it will take some time to scale and provide a robust investment menu, but I am glad to see the Commission received 48 submissions for their first round of evaluations.
     
    17 projects were positively endorsed, and three projects have been identified as being ‘investment ready’ – these are New Zealand Defence Forces’ Accommodation, Messing, and Dining Modernisation Project; Defence Forces’ Ohakea Base Project; and Hamilton City Council’s Ruakura Eastern Transport Corridor.
     
    I encourage all government agencies to submit their significant projects and programmes to the IPP. 
     
    A positive independent review will strengthen your case for investment.
     
    Improving the Investment Management System 
     
    Lastly, there are a number of recommendations in the draft Plan that aim to improve the Government’s investment system – which is made up of the rules and processes for how we plan, prioritise, fund and finance, delivered, and looked after investments – including infrastructure.
     
    For our Government to boost productivity, reduce the cost of living, and lift peoples’ prosperity, we need to get better value for money from our new infrastructure and do a better job at looking after our existing assets.   
     
    So, I am open to hearing about stronger rules such as legislative requirements for central government agencies and entities to prepare and publish long-term asset management plan, asset registers, and investment plans. 
     
     
    I am also open to legislative requirements for performance reporting to keep central government infrastructure entities accountable – like we do for regulated utilities and local government, who both face much stronger regulations and information disclosures requirements compared to central government. 
     
    We need to stop holding others to a higher standard than we do ourselves. 
     
    Overall, I am pleased to see the draft Plan makes recommendations that align with existing Government priorities, such as:

    making better use of user pricing to fund investment,
    adopting spatial planning,
    relaxing land-use restrictions,
    transport system reform,
    prioritising infrastructure through the resource management system, and
    drastically improving asset management. 

     
    The Government will continue to advance these policy priorities, and we will benefit from insights from the Plan. 
     
    The final National Infrastructure Plan will be given to me by the end of 2025. As the Plan is an independent Strategy report, the Government will provide a formal response to the Plan in 2026. 
     
    As part of that response, I will be engaging with other political parties in Parliament, and I intend to ask the Business Committee to hold a special Parliamentary debate on the final Plan early next year. 
     
    Conclusion
     
    I’d like to finish by thanking the Infrastructure Commission for its hard work in delivering this draft National Infrastructure Plan.
     
    I encourage everyone including agencies, local government, opposition parties, the private sector, the public to have their say on the draft Plan through the consultation process – and I look forward to receiving the final Plan by the end of this year.
     
    ENDS

    MIL OSI New Zealand News –

  • MIL-OSI Canada: Saskatchewan Wildfire Update – June 24

    Source: Government of Canada regional news

    Released on June 24, 2025

    As of 4:00 p.m. on Wednesday, June 24, there are 19 active wildfires in Saskatchewan. Of those active fires, one is categorized as contained, five are not contained, 11 are ongoing assessment and two are listed as protecting values.   

    This year, Saskatchewan has had 267 wildfires, which is well above the five-year average of 163 to date. 

    Four communities remain under an evacuation order: East Trout Lake, as well as priority individuals from Creighton, Denare Beach and Cumberland House.  

    The Saskatchewan Public Safety Agency’s (SPSA) Recovery Task Team has begun meeting with community leaders to discuss recovery efforts.   

    Over $4 million has been transferred directly to residents as well as communities that are distributing the $500 Government of Saskatchewan Financial Assistance to their residents that have been impacted by the wildfires. The SPSA is continuing to coordinate with communities that have asked for its support in distributing this financial assistance. 

    Evacuees who have not yet registered are encouraged to do so through the Sask Evac Web Application or by calling 1-855-559-5502 between 8:00a.m. and 5:00p.m. A full list of evacuated and repatriated communities can be found on the Information for Evacuees webpage.  

    Evacuees supported by the Canadian Red Cross can call 1-800-863-6582. 

    The latest information, an interactive fire ban map, frequently asked questions, fire risk maps and fire prevention tips can be found at saskpublicsafety.ca. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: Transforming Factories into Mixed-Use Housing

    Source: US State of New York

    overnor Kathy Hochul today announced the opening of Wood and Brooks the Lofts in the Town of Tonawanda. The $23 million mixed-use project transformed 98,370 square feet of space inside a former piano key factory into 55 apartments, and a commercial hub anchored by The Plan Room — a first of its kind, coworking space in Western New York that caters to businesses and individuals in the construction industry.

    “We are working to address the housing crisis with each project we support, by creating the types of modern and sustainable homes that uplift communities and allow families to grow all over the state, including in Erie County,” Governor Hochul said. “We as a state need to build more housing in order to drive down housing affordability, and revitalizing and rehabilitating long-vacant buildings for housing and workforce development is one way we can get that done. This is another great example of what’s possible when municipalities and the state work in true partnership with nonprofits and private developers.”

    This historic renovation project is located within an industrial neighborhood in the Town of Tonawanda bordering the City of Buffalo. The Wood and Brooks piano key factory at 2075 Kenmore Avenue opened in the early 1910s and was renowned for its production of ivory keys. It also played a pivotal role in manufacturing Higgins boat landing crafts during World War II. The location, which is listed in the State and National Registers of Historic Places, has been revitalized by the Wopperer family and their extended relatives, who have held ownership of the property since 1972. The building was once known for a since-removed giant elephant head on the roof, a reference to the ivory used to make the keys.

    Wood and Brooks the Lofts offers a range of high-end amenities including a fitness center, on-site café, dog park and wash station, co-working and lounge areas, and 24/7 maintenance services — all designed to enhance the quality of life for residents and commercial tenants. In addition, the project promotes sustainability and preservation through participation in the New York State Brownfield Cleanup Program and utilization of federal and state historic tax credits.

    A centerpiece of the development is The Plan Room, a collaborative initiative with the Construction Exchange of Buffalo & WNY. Designed for small contractors ready to move beyond working from home but not yet in need of a full-scale office, The Plan Room provides private offices, shared meeting rooms, high-speed internet, showers, a shared workshop, and large storage lockers. With capacity for over 50 construction-related businesses, it is the first dedicated coworking space of its kind in the region. The Construction Exchange, a not-for-profit organization serving the Western New York construction industry since 1981, continues its mission of supporting business growth through access to information, education, and networking. To learn more about The Plan Room, visit www.wnyplanroom.com.

    Wood and Brooks Properties President Michael Wopperer said, “We are incredibly grateful to Empire State Development for their financial investment and belief in this project. The transformation of the historic Wood and Brooks factory into modern apartments and flexible workspace would not have been possible without their investment. This project is not only about restoring a landmark—it’s about creating opportunity, housing, and long-term impact in a neighborhood we’ve been proud to be part of for over 50 years.”

    Empire State Development is assisting the Wood and Brooks project with a $1 million Western New York Regional Economic Development Council capital grant towards the commercial portion of the project. The New York State Office of Parks, Recreation and Historic Preservation has facilitated the use of Federal and State Historic Rehabilitation Tax Credits, providing nearly $7.88 million in equity for the project.

    Empire State Development President, CEO and Commissioner Hope Knight said, “This project will deliver vital housing and catalyze economic growth through a dynamic mix of residential, workforce training and food amenities. The adaptive reuse of this long vacant former factory into high-quality homes is another step forward in the revitalization of Tonawanda. Governor Hochul understands that transforming communities into economic hubs requires housing that is accessible for all New Yorkers and is in proximity to jobs and transportation. The Wood and Brooks project is the latest demonstration of how we renew neighborhoods and increase housing opportunities.”

    New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simon said, “Pairing our historic buildings with state and federal historic rehabilitation tax credit programs can generate exciting new projects along our former industrial corridors. Through partnerships and collective vision, these buildings are reborn into active spaces that look to the future while linking us to a shared past. We are honored to be part of these efforts here in Tonawanda and across the state.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “By turning a former piano key factory into 55 beautiful, quality apartments and a hub for coworking, this project is not only providing the homes that families need, but also cultivating a vibrant community where residents and businesses can flourish. The Wood and Brooks development is another example of Governor Hochul’s commitment to honoring New York’s history and putting existing resources to work to increase housing supply, grow local economies, and create a stronger New York.”

    The Wood and Brooks project complements Governor Hochul’s economic development vision by making strategic investments in communities across the State which revitalize the economy and create more opportunities for New Yorkers. The FY26 Budget invests $100 million for the Downtown Revitalization Initiative and $100 million for NY Forward. These programs help municipalities promote quality of life, foster socio-economic development and create walkable, livable and safer neighborhoods in every corner of the state. The Budget also includes funding for the state’s Regional Economic Development Council initiative; new this year, the 10 councils will compete, in part, for $150 million in funding as part of the new ACHIEVE initiative to advance catalytic economic development projects backed by enhanced implementation funding to jump-start regional growth.

    WNYREDC Co-Chair and Campus Labs Co-Founder Eric Reich said, “Today’s ribbon cutting marks the transformation of a long-vacant building into a vibrant, mixed-use development designed to support and uplift the Town of Tonawanda. Thanks to Governor Hochul’s vision, this former brownfield site has been reimagined as a beautiful residence that also includes an incubator for construction contractors who will be the driving force behind future building projects in the region.”

    WNYREDC Co-Chair and Canisius University President Steve Stoute said, “Through the Regional Economic Development Council initiative, Western New York has worked to regrow its economy by increasing the level of building trades training for skilled jobs in our region. The WNYREDC appreciates added value created by the partnership between the project developer and the Construction Exchange of Buffalo & WNY, to help train future contractors and improve the skills of people already working in the field.”

    ECIDA President and CEO John Cappellino said, “On behalf of the ECIDA I congratulate Wood and Brooks Properties on completing this transformational redevelopment of the former Wood and Brooks piano factory. The project was approved for sales tax and Mortgage Recording Tax benefits under ECIDA’s Adaptive Reuse program, which helps developers finance the otherwise cost-prohibitive revitalization of our region’s abandoned historic commercial properties. The project will also create much-needed workforce-affordable housing, including setting aside 10 percent of the housing units for households earning 80 percent or less of the Area Median Income.”

    Assemblymember William Conrad said, “Wood and Brooks the Lofts is a truly transformational project, both in terms of the development team’s reimagination of this historic site, and because of its expansive impact on the housing market in the Town and Buffalo, including for working families seeking affordability. I had the pleasure of touring the property last year, and I was so impressed by the attention to detail, innovation, and quality in the apartments, amenities, and workspace. I thank Governor Hochul and Empire State Development for their faith in this effort and for their continued investment in the growth of Western New York.”

    Tonawanda Supervisor Joseph Emminger said, “The Wood and Brooks project is one that never would have happened without the vision of Michael Wopperer and his family, and the critical support from Governor Hochul, Empire State Development, and the ECIDA. The Town of Tonawanda is proud to have played a role in making this a reality and we look forward to working with Mr. Wopperer in continuing his vision in enhancing this historic property!”

    About Empire State Development

    Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

    MIL OSI USA News –

  • MIL-OSI USA: McConnell on American Leadership; Standing with Israel and Ukraine

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell

    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY), Chairman of the Senate Appropriations Subcommittee on Defense, delivered remarks on the Senate floor today regarding U.S. national security interests in standing with Israel, supporting Ukraine, and investing sufficiently in our own defense. Prepared text of his speech follows:

    “When Iran’s proxies launched a full-scale war on Israel on October 7th, 2023, President Biden pledged an ‘unwavering commitment to Israel’s security’. This was the right message in the moment. But as I warned publicly at the time, Israel needed more than rhetorical solidarity.

    “Like Ukraine, Israel needed precious time, space to maneuver, and material support to defeat a shared enemy. And yet, as in Ukraine, America’s commitment has indeed wavered. Our support has not been ironclad.

    “Instead, under the previous Administration, American support was delayed, restricted, and paired with attempts to micromanage Israeli operations and even interfere with Israeli politics. And at every turn, the progressive left and isolationist right hyperventilated about the specter of so-called forever war.

    “Fortunately, Israel held its ground. Israelis weren’t enthused about a ground war in Gaza. Their leaders knew that war would be difficult. But they knew it was unavoidable so long as Hamas terrorists still refused to release its hostages. They also knew lasting security meant changing Iran’s calculus…Not just responding to attacks from its proxies. So Israel decided to turn Iran’s terrorist assets into liabilities.

    “Despite the pearl-clutching here in Washington, our ally simultaneously decapitated Hizballah and crippled Hamas. Their bold operations created a new opportunity for Lebanon to claw back its sovereignty from a terrorist state within a state.

    “Meanwhile, the collapse of the brutal Assad regime in Syria brought down a Russian vassal and Iran’s favorite corridor of weapons and terrorist finance. These are the circumstances President Trump inherited. What to do with them has been the subject of some debate. Some of his advisors and supporters came with Obama-Biden-era talking points, ready to urge him to continue his predecessor’s policy of constraining Israel. Some had argued publicly that America had no vital or existential interests in the Middle East or claimed the region was a distraction from other priorities. They warned of forever war. Some seemed to push for nuclear negotiations with parameters eerily similar to the nuclear deal he withdrew from during his first term. They even proposed Iran could keep enriching uranium, until the President rightly quashed that idea.

    “These mixed messages emboldened Iran and its proxies. After all, why give up if Administration officials saw the Middle East as little more than a distraction?…or if they seem as fearful of restoring deterrence as the previous guys? So Hamas kept holding hostages. The Houthis kept targeting Israel and Red Sea commerce. And the Islamic Republic kept marching toward a nuclear weapon. And in response, Israel took the next logical step to restore deterrence.

    “Once again, innovative and decisive strikes destroyed Iran’s air defenses and imposed immediate costs on Tehran. And leaders from across Israel’s politics stood united behind the daring operations. But here in America, the same restrainers, anti-Israel progressives, and self-proclaimed realists warned again of regional conflagration if the President intervened alongside – or even supported – Israel’s strikes.

    “The President’s own Director of National Intelligence traveled to Hiroshima to record a bizarre video message – not as a warning against Tehran’s nuclear ambitions but, presumably, against American or Israeli operations to blunt them.

    “Fortunately, the President rejected the pleas of appeasers and isolationists. The strikes he ordered dealt a massive blow to Iran’s nuclear program, bolstered American credibility, and strengthened U.S. and Israeli leverage to end Iran’s pursuit of nuclear weapons and its support for terrorism for good.

    “Thanks to Israel’s heroic efforts for more than a year and a half, Iran’s ability to threaten regional stability is massively degraded. Not since before the Islamic revolution has there been such an opportunity for America, Israel, and our Arab partners to reset regional dynamics on such favorable terms. Achieving it has required no large-scale deployment of U.S. ground forces. It required only supporting our friends. Israel is a close ally and a strategic asset. Not a liability. And the strategic return on our investment in assisting Israel is incalculable.

    “Standing with our Israeli friends offers a powerful lesson about American leadership, the value of alliances and partnerships, and the real nature of peace through strength. And this lesson extends far beyond the Middle East. If America refuses to apply it elsewhere – like Ukraine – we do so at grave risk to our own interests. But that’s exactly what some in Washington seem to be doing. Congress recently learned that a senior DoD official conducted a review of DoD security assistance efforts and concluded that the Ukraine Security Assistance Initiative (USAI), among other programs, was wasteful. This is a Republican Administration panning a program created by a Republican Congress in 2015 to counter President Obama’s toothless response to Russia’s initial invasion of Ukraine. I’d like to see the analysis behind the Administration’s decision to zero out USAI in its FY26 request. I’d like to hear them try to explain away the massive return on investment of America’s security assistance to Ukraine and the precious lessons we’ve learned from our Ukrainian partners.

    “The Secretary of the Army has rightly called Ukraine ‘the Silicon Valley of warfare’. Do his colleagues at the Pentagon think this assessment is wrong, or do they just not think access to the cutting edge of modern combat is valuable? Here’s the truth: USAI and other security assistance efforts have helped us measurably address shortcomings in strategy, capabilities, and production capacity that would have gone ignored until it was too late.

    “It’s an inconvenient reality for isolationists and restrainers, but – for a tiny percent of our defense budget – we helped a smaller military resist invasion by a vastly larger one and degrade a major U.S. adversary.

    “As with Israel, Ukraine is fighting an adversary of the United States. Our support does not entangle us in a far-off foreign conflict. For Russia, Iran, China, and North Korea, America is the main enemy – the great Satan. If these adversaries beat our friends, the threat to America become a thousand times greater. We should be grateful for friends so willing to defend our collective interests against common foes.

    “Partnership with Ukraine is teaching us what modern warfare could mean for U.S. forces when they do face direct conflict. It has tested our assumptions about munitions inventories, expenditure rates, electronic warfare, and the duration of conflict. Without Ukraine’s experience with U.S. weapons, we would have been surprised to find some advanced systems quickly rendered inoperable on future battlefields.

    “The money we invest in USAI on weapons for Ukraine expands our own production capacity in the process and will improve the quality of our own munitions. Supplemental appropriations on Ukraine and Israel, in turn, backfill our own stocks with brand-new capabilities – not just 155mm rounds, but air defenses and long-range fires, with specific investment in solid rocket motors. These investments help us prepare for conflict in the Indo-Pacific. And production would be slower in the absence of our partnership with Ukraine. Not doing more to address our growing defense needs isn’t a failure of foresight. It’s a failure of political will. Everyone wants to see an end to Russia’s war in Ukraine. But the price of peace matters. If we want enduring stability in Europe, we can’t fall for an illusory peace.

    “We should know enough history not to dismiss this as merely ‘a quarrel in a faraway country, between two people of whom we know nothing’. It’s a major war of conquest in Europe…The most significant since the days of Nazi Germany…And allies and adversaries half a world away are watching it closely for clues about America’s resolve. Certainly, Europe’s deepening commitments to collective defense will make real peace more enforceable. The President’s insistence has driven much of this progress; Putin’s brutality has reinforced it.

    “Since 2022, our European NATO allies have made historic investments in defense – often buying American. And many are preparing to make even larger commitments at this week’s NATO Summit. This is good news. But we can’t expect allies to continue signing up for 3.5% and 5% commitments if America insists on falling further behind. Likewise, we can’t expect Putin to end his aggression if he thinks America’s abandonment of Ukraine is only a matter of time. And we can’t expect anyone to take America’s threats and commitments seriously if we’re content to let our own strength atrophy.

    “A base budget request that cuts defense spending in real terms doesn’t show Moscow we’re serious – let alone Beijing. Leading from behind would be bad enough, but this is just plain falling behind. The strongest deterrence is denying an adversary’s objectives through military means. Israel is restoring this deterrence in the Middle East. Ukraine is achieving it by holding its own against Russia. But it needs help.

    “Recently, I’ve asked Administration officials simple questions, like: Who is the aggressor in this conflict? The answer is obvious. But a second, equally simple question seems to trip them up: Who do we want to win?

    “The President made the right call to stand with Israel. I hope he’ll also decide to stand with Ukraine, prevent Russian victory, and start reversing a dangerous, downward trend in our defense budgets. I hope he’ll recognize Russia’s attempt to ‘tap him along’ for what it is. Putin is getting mixed messages from Washington. He thinks he has time. He believes the West is weak and divided. But the President – at very little cost – can shatter this illusion. It’s time to impose sanctions, raise the price of Russia’s aggression, redouble security assistance to Ukraine, and drive the Kremlin to seek peace. It’s time for deterrence through denial.

    “There’s no surer path to just and enduring peace…No better way to demonstrate that peace through strength actually means something…No clearer sign to allies and adversaries watching closely from the Western Hemisphere to the Indo-Pacific that America still has the will to lead.”

     

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Staff Completes 2025 Article IV Mission to Vietnam

    Source: IMF – News in Russian

    June 24, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • Vietnam’s economy started 2025 strongly, with 6.9% year-on-year growth in the first
    • quarter. However, the outlook is more challenging amid global trade tensions and high uncertainty.
    • There is room for greater support by fiscal policy to cushion the impact of global shocks if needed. Allowing more flexibility in the exchange rate and strengthening the financial system will be important.
    • Implementation of the ambitious reform agenda encompassing institutional overhauls, private sector strengthening, and infrastructure improvements present an opportunity to raise medium-term growth. Further reforms to boost productivity, strengthen governance, and improve the business environment are also critical.

    Hanoi: An International Monetary Fund (IMF) team, led by Mr. Paulo Medas, held discussions for the 2025 Article IV consultation with the Vietnamese authorities from June 11-24, 2025. The team exchanged views with Deputy Prime Minister Ho Duc Phoc, senior officials of the State Bank of Vietnam (SBV), the Ministry of Finance, the National Assembly, and other government agencies. It also met with representatives from the private sector, think tanks, and other stakeholders.

    At the conclusion of the mission, Mr. Medas issued the following statement:

    “The Vietnamese economy rebounded strongly in 2024, growing at 7.1 percent backed by robust exports, resilient foreign direct investment (FDI), and supportive policies. This momentum continued into the first quarter of 2025, with economic activity expanding by 6.9 percent (y/y). Inflation remained contained. The current account surplus reached a record 6.6 percent of GDP in 2024.

    “The outlook is heavily dependent on the outcome of trade negotiations and is constrained by elevated global uncertainty on trade policies and economic growth. Our projections, in line with the IMF April 2025 World Economic Outlook, assumes high tariffs take effect in the third quarter. In such a scenario, economic growth is projected to slow to 5.4 percent in 2025 and decelerate further in 2026.  However, if global trade tensions subside, the economic outlook would improve significantly.

    “Downside risks are high. A further escalation in global trade tensions or a tightening of global financial conditions could weaken further exports and investment. Domestically, financial stress could re-emerge from tighter financial conditions and high corporate indebtedness. On the upside, achieving nondiscriminatory trade agreements and successfully implementing planned infrastructure and structural reforms could significantly boost medium-term growth.

    “Given the uncertain outlook, policy priorities should focus on preserving macro-financial stability while navigating economic adjustments. Fiscal policy, supported by low level of public debt, should take the lead in cushioning the near-term impact especially under downside scenarios. Accelerated implementation of public investment and strengthening social safety nets would be important.

    “Monetary policy has much more limited room and should be decisively focused on anchoring inflation expectations. Allowing the exchange rate flexibility will be critical as the economy adjusts to the external shock. Some monetary easing could be considered if global interest rates decline as expected and inflation falls. Vigilance is needed to monitor and act against inflation pressures arise, including due to external shocks. These challenges underscore the importance of modernizing the monetary policy framework to enhance its effectiveness and anchor stability, including by replacing credit growth limits with an improved prudential framework.

    “Further efforts are needed to strengthen financial sector soundness. To bolster banking system resilience, priorities include strengthening bank supervision, build liquidity and capital buffers, and further improving the bank resolution framework.

    “The government’s plans for an ambitious reform agenda are very welcome and could boost medium-term growth, but implementation will be key. The government’s focus on institutional reforms to enhance efficiency, strengthen private sector development, and plans to scale up public investment is a major step forward. It will be important to develop and implement concrete reforms to improve key infrastructure (e.g., logistics, energy), functioning of capital markets, education and training, and productivity.  To maximize the return on large investments, it is critical to strengthen public investment management and adopt a sound macro-fiscal strategy to preserve the health of public finances. Efforts to strengthen economic governance are essential, including strengthening the AML/CFT regime, and efforts in this regard are welcome. Vietnam’s rapid economic growth is outpacing the development of its economic statistics and urgent efforts are needed to close data gaps to support effective policymaking and risk management.

    “The team is grateful to the authorities for their warm hospitality and the candid and insightful discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

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

    https://www.imf.org/en/News/Articles/2025/06/24/pr-25214-vietnam-imf-staff-completes-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Tech and Business – Fibre broadband extension a priority for business

    Source: BusinessNZ

    BusinessNZ supports the Infrastructure Commission’s endorsement for extending fibre broadband to more areas of New Zealand.
    A proposal by Chorus to gain government backing for expanding fibre broadband from 87% to 95% of households and businesses has been endorsed by the Infrastructure Commission as a national priority.
    BusinessNZ Advocacy Director Catherine Beard says Chorus’ proposal would bring a significant boost to business and rural connectivity, bringing economic benefit to more parts of country.
    “More urban and rural businesses would be able to take part in the digital economy with modern connectivity that is scalable for business needs.
    “BusinessNZ agrees with the Infrastructure Commission’s assessment of the proposal as a national priority.”
    The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Gov. Pillen Announces Resignation of DED Director Belitz

    Source: US State of Nebraska

    . Pillen Announces Resignation of DED Director Belitz

    LINCOLN, NE – Today, Governor Jim Pillen announced the resignation of K.C. Belitz, director of the Department of Economic Development (DED). His final day with the state is July 18.

    Belitz, appointed to oversee the agency in July 2023, led the implementation of several new initiatives like Read Nebraska, 6 Regions, One Nebraska and the Governor’s New Venture Competition. He also oversaw the review and issuance of hundreds of millions of dollars in grants through state and local programs aimed at revitalizing key areas of Nebraska, including north and south Omaha, but also including smaller cities and rural communities.

    “K.C. is a committed public servant, whose entire career has been about growing local communities and growing Nebraska,” said Gov. Pillen. “Over the past two years, he has been a positive champion for bringing new business to the state and fostering relationships that will allow Nebraska to continue attracting companies involved in the bioeconomy, manufacturing, technology and other industries. I appreciate all that K.C. has done as director of DED and wish him the very best in all future endeavors.”

    “It has been a pleasure to serve Gov. Pillen and the people of Nebraska in this role,” said Beliz. “It has afforded me the chance to meet stakeholders across Nebraska who care deeply about their communities, making investments and creating opportunities so that families can raise their kids, have great careers, and thrive in their home state. That has been immensely satisfying, and I’m appreciative of those many relationships.”

    An announcement as to interim leadership for DED, as well as the search for a permanent director, will be made at a later date.

    MIL OSI USA News –

  • MIL-OSI: Bitcoin Treasury Corporation Announces TSX Venture Exchange Listing and the Issuance of Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States news wire services or for dissemination in the United States.

    TORONTO, June 24, 2025 (GLOBE NEWSWIRE) — Bitcoin Treasury Corporation (TSXV: BTCT) (“Bitcoin Treasury” or the “Corporation”), further to its press releases dated May 22, 2025, May 30, 2025, June 17, 2025, and June 23, 2025, is pleased to announce that, pursuant to a bulletin issued by the TSX Venture Exchange (the “TSXV” or the “Exchange”) on June 24, 2025, the Corporation has now met all final listing requirements of the Exchange, assuming closing of the previously announced brokered offering (the “Offering”) of 426,650 Bitcoin Treasury Shares (as defined below). It is anticipated that, effective at markets open on Thursday, June 26, 2025, the common shares of Bitcoin Treasury (the “Bitcoin Treasury Shares”) will be listed (the “Listing”) with an immediate trading halt. The Corporation expects that on Monday, June 30, 2025, following the completion of the previously announced Offering, anticipated to be on June 26, 2025, the Exchange will issue a further bulletin announcing the lifting of the trading halt. Once the trading halt is lifted, the Bitcoin Treasury Shares will trade under the symbol BTCT.

    The Corporation filed a filing statement pursuant to TSXV Form 3D2 – Information Required in a Filing Statement for a Reverse Takeover, dated June 17, 2025, a copy of which can be found under the Corporation’s profile at www.sedarplus.ca.

    For further information, please contact:

    Bitcoin Treasury Corporation
    Elliot Johnson, Chief Executive Officer
    Phone: 416-619-3403
    Email: ejohnson@btctreasurycorp.com

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

    Cautionary Note Regarding Forward-Looking Statements

    This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: expectations related to the anticipated trading the Bitcoin Treasury Shares on the TSXV and timing thereof; and the brokered offering of the Bitcoin Treasury Shares and the timing thereof. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Corporation’s operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; the Corporation operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Corporation; evolving cryptocurrency regulatory requirements and the impact on the Corporation’s business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation’s business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation’s business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Corporation’s resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations.

    Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management’s estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.

    The TSXV has neither approved nor disapproved the contents of this news release.

    The MIL Network –

  • MIL-OSI USA: Rep. Young Kim Urges Governor Newsom to Ease Pain at Pump for Californians

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Today, U.S. Representative Young Kim (CA-40) joined Rep. David Valadao (CA-22) and members of the CA GOP delegation in writing to Gov. Gavin Newsom in opposition to the State’s Low Carbon Fuel Standard and the gasoline excise tax, which would increase to 61.2 cents per gallon, taking effect on July 1, 2025.   

    “California is already home to the highest gas prices of any state in the nation – the Low Carbon Fuel Standard and gas tax only add more pain at the pump for hardworking families,” said Congresswoman Kim. “I will continue to urge Governor Newsom to suspend the burdensome gas tax and provide relief for Californians.” 

    Read the letter HERE or see highlights below. 

    We strongly oppose two impending increases in gasoline costs proposed by your administration that are set to take effect on July 1, 2025—measures that could impose an additional $0.68 per gallon on California drivers. 

    In November 2024, the unelected bureaucrats at the California Air Resources Board (CARB) approved updates to the State’s Low Carbon Fuel Standard (LCFS), despite widespread concerns 

    about affordability. Beginning July 1, 2025, this regulatory change is expected to increase gas prices by 65 cents per gallon. In addition, your administration has announced an increase to the state’s gasoline excise tax, raising it to 61.2 cents per gallon—further compounding the financial strain on working families. 

    These developments come amid the closure of several in-state refineries, placing further pressure on California’s already limited transportation fuel supply. Rather than addressing these supply challenges, the state’s actions threaten to deepen the hardship faced by millions of Californians who are already struggling to meet their families’ basic needs. 

    We have repeatedly urged your administration to suspend the gas tax and halt new regulatory measures that raise fuel prices. Yet, our calls have gone unanswered. As of this letter’s date, AAA reports that the average price of gasoline in California stands at $4.66 per gallon, $1.44 above the national average and the highest in the country. If your administration proceeds with these increases, projections show gas prices could soar to $8.43 per gallon by 2026. This is simply unsustainable for the constituents we represent. 

    We urge you to immediately suspend any further increases to California’s gasoline excise tax and pause the implementation of CARB’s LCFS updates. Californians need relief—not additional burdens. 

    MIL OSI USA News –

  • MIL-OSI USA: Shaheen Leads New Hampshire Delegation Letter Urging Labor Department to Reverse Decision to Close Manchester Job Corps Center

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH), alongside Representatives Chris Pappas (NH-01) and Maggie Goodlander (NH-02), are urging U.S. Department of Labor (DOL) Secretary Lori Chavez-DeRemer to reverse the DOL’s decision to close Job Corps Centers nationwide, including the New Hampshire Job Corps Center in Manchester. The Manchester Job Corps Center, which Shaheen helped establish in 2013, serves up to 268 residential and 32 nonresidential students, providing vocational training, pathways to a high school diploma and college certifications and degrees through partnerships with Manchester Community College, Nashua Community College and the New Hampshire Technical Institute.

    In part the delegation wrote, “The New Hampshire Job Corps Center is essential to the state’s economy with an estimated economic impact of more than $21 million per year. The center’s closure would have a grave and lasting impact on the state’s economic growth and workforce pipeline.”

    The delegation continued, “Given the vital role that Job Corps plays in New Hampshire and throughout the country, we respectfully urge you to reconsider your pause of Job Corps operations and cease efforts to eliminate the program. We have a shared interest in improving outcomes for Job Corps students, prioritizing their safety, and preventing any waste that may exist in the Job Corps program, and we urge you to work with Congress to advance these goals.”

    The full text of the letter can be found here.

    Last week, Shaheen joined a bipartisan group of Appropriations Committee members in sending a letter to Department of Labor (DOL) Secretary Lori Chavez-DeRemer, urging the DOL to reverse its decision to begin the closure of Job Corps Centers nationwide.

    Senator Shaheen has long championed funding to support the Manchester Job Corps Center. In 2013, Shaheen built on fifteen years of bipartisan work to break ground on the Manchester Job Corps Center in collaboration with federal and local officials. Job Corps students and graduates have gone on to work in high-need industries across New Hampshire, including advanced manufacturing and other businesses critical to the defense industrial base.

    MIL OSI USA News –

  • MIL-OSI USA: New Hampshire Delegation Sends Letter Urging Labor Department to Reverse Decision to Close Manchester Job Corps Center

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan

    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH), alongside Representatives Chris Pappas (NH-01) and Maggie Goodlander (NH-02), are urging U.S. Department of Labor (DOL) Secretary Lori Chavez-DeRemer to reverse the DOL’s decision to close Job Corps Centers nationwide, including the New Hampshire Job Corps Center in Manchester. The Manchester Job Corps Center, which Shaheen helped establish in 2013, serves up to 268 residential and 32 nonresidential students, providing vocational training, pathways to a high school diploma and college certifications and degrees through partnerships with Manchester Community College, Nashua Community College and the New Hampshire Technical Institute.

    In part the delegation wrote, “The New Hampshire Job Corps Center is essential to the state’s economy with an estimated economic impact of more than $21 million per year. The center’s closure would have a grave and lasting impact on the state’s economic growth and workforce pipeline.”

    The delegation continued, “Given the vital role that Job Corps plays in New Hampshire and throughout the country, we respectfully urge you to reconsider your pause of Job Corps operations and cease efforts to eliminate the program. We have a shared interest in improving outcomes for Job Corps students, prioritizing their safety, and preventing any waste that may exist in the Job Corps program, and we urge you to work with Congress to advance these goals.”

    The full text of the letter can be found here.

    Last week, Shaheen joined a bipartisan group of Appropriations Committee members in sending a letter to Department of Labor (DOL) Secretary Lori Chavez-DeRemer, urging the DOL to reverse its decision to begin the closure of Job Corps Centers nationwide.

    Senator Shaheen has long championed funding to support the Manchester Job Corps Center. In 2013, Shaheen built on fifteen years of bipartisan work to break ground on the Manchester Job Corps Center in collaboration with federal and local officials. Job Corps students and graduates have gone on to work in high-need industries across New Hampshire, including advanced manufacturing and other businesses critical to the defense industrial base.

    MIL OSI USA News –

  • MIL-OSI: BlackRock® Canada Announces Final June Cash Distributions for the iShares® Premium Money Market ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 24, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the final June 2025 cash distributions for iShares Premium Money Market ETF. Unitholders of record on June 25, 2025 will receive cash distributions payable on June 30, 2025.

    Details regarding the final “per unit” distribution amounts are as follows:

    Fund Name Fund Ticker Cash Distribution Per Unit
    iShares Premium Money Market ETF CMR $0.129

    Further information on the iShares ETFs can be found at http://www.blackrock.com/ca.

    About BlackRock
    BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA

    About iShares ETFs
    iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

    iShares® ETFs are managed by BlackRock Canada.

    Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.  

    Contact for Media:
    Sydney Punchard
    Email: Sydney.Punchard@blackrock.com

    The MIL Network –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of May 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 24, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of May 31, 2025, was $22.16.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended May 31, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of May 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 24, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of May 31, 2025, was $22.16.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended May 31, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI New Zealand: Northland News – 3.54% rates rise adopted

    Source: Northland Regional Council

    Northland Regional Council rates will rise 3.54 percent for the 2025/26 financial year – considerably less than a 5.79% increase previously forecast – under an Annual Plan adopted by councillors recently.
    Council Chair Geoff Crawford says the increase – which accounts to an increase of $19.19c per rates bill on average over the next year – was originally forecast to be more than two percent higher under the council’s Long Term Plan 2024-2034 (LTP).
    However, due to a combination of factors including efficiencies, savings and surpluses available to offset spending and funding shortfalls, councillors were pleased to be able to approve a lower rates rise.
    “We know that many people are finding things difficult financially in the current climate and have worked hard to keep our rates increase as low as possible.”
    Chair Crawford says the following changes are included in the Annual Plan:
    • Covering reduced cruise ship income ($491,961)
    • Funding for Gold Clam response ($500,000)
    • Covering reduced rent gains ($143,250)
    • Covering increased inflation ($420,000) of operational expenditure
    • Funding for Sea Cleaners and Native Bird Recovery Centre ($30,000)
    “The combined changes, made up of both spending and funding shortfalls, comprised a total of $1,585,211 of operational spend to overall rates take for the 2025/25 financial year.”
    “However, this is offset, and rates reduced further, by around $2.3M of funding made up of previous LTP initiatives that are now redundant, budgetary reserves including surplus savings from the previous year, and unallocated funding.” 

    MIL OSI New Zealand News –

  • MIL-OSI: Jayud Global Logistics Receives $4.2 Million Government Subsidy for Charter Flight Operations

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, June 24, 2025 (GLOBE NEWSWIRE) — Jayud Global Logistics Limited (NASDAQ: JYD) (“Jayud” or the “Company”), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, today announced that it has received a government subsidy of RMB 30,258,086 (approximately USD 4.2 million) from the Shenzhen Transportation Bureau.

    The subsidy relates to two charter flight routes operated by the Company during 2022-2023 as part of its expanded air freight services:

    • Shenzhen-Clark Route: RMB 17.28 million
    • Shenzhen-Davao Route: RMB 12.98 million

    Jayud originally applied for the cargo aircraft new route subsidies in March 2023, with the Shenzhen Transportation Bureau finalizing the subsidy amounts in March 2025 after adjusting all applications due to total requests exceeding available funding.

    Xiaogang Geng, Chairman of the Board and CEO of Jayud, stated, “This significant government recognition and financial support validates our strategic expansion into charter flight operations and demonstrates the value we bring to Shenzhen’s logistics infrastructure. These subsidies will positively impact our financial performance and support our continued growth in cross-border air freight services.”

    The Company expects this to positively impact its revenue and financial results for the current fiscal year.

    About Jayud Global Logistics Limited

    Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. The Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solutions, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company’s website: https://ir.jayud.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For more information, please contact:

    Jayud Global Logistics Limited
    Investor Relations Department
    Email: ir@jayud.com 

    Investor Relations Contact:
    Matthew Abenante, IRC
    President
    Strategic Investor Relations, LLC
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network –

  • MIL-OSI: DRML Miner Unveils Zero-Cost XRP Cloud Mining Platform

    Source: GlobeNewswire (MIL-OSI)

    LONDON, UK, June 24, 2025 (GLOBE NEWSWIRE) — DRML Miner, a global leader in eco-conscious cryptocurrency mining, has officially launched its highly anticipated zero-cost XRP cloud mining platform, ushering in a new era of accessible, automated, and AI-enhanced digital asset earnings. Tailored for both seasoned investors and crypto newcomers, the platform provides users with daily XRP rewards, a $10 signup bonus, and the opportunity to grow passive income without any upfront hardware costs or technical know-how.

    This launch comes at a pivotal moment, with XRP currently in a price consolidation phase, offering a unique chance for investors to generate consistent returns while traditional markets remain uncertain.

    What Sets DRML Miner’s XRP Cloud Mining Apart

    With traditional mining often plagued by high costs and complex setups, DRML Miner breaks down these barriers through a user-friendly, cloud-based solution. Users simply register, select a mining contract, and start earning—no rigs, no maintenance, no hassle.

    Key features of the new XRP mining contracts include:

    • AI-Powered Yield Optimization: Smart allocation of hashrate ensures optimal returns, even during stagnant market conditions.
    • Daily XRP Payouts: Predictable earnings improve liquidity and minimize exposure to price volatility.
    • 100% Remote Participation: Start mining instantly from anywhere in the world.
    • Principal Security: All contracts guarantee a full return of principal at expiration.

    A Strategic Entry Point for XRP Investors

    According to the DRML Miner team, the launch of XRP-only mining contracts was strategically timed to coincide with the asset’s ongoing consolidation, allowing users to profit regardless of short-term price swings.

    “We see XRP’s current price range not as a plateau, but as potential,” said the CEO of DRML Miner. “Our new mining contracts unlock the value of XRP in a stable, low-risk, and fully automated way.”

    Real Returns Backed by Real Results

    The platform offers a range of contract tiers designed to suit various investment preferences. Verified performance metrics include:

    • 2-Day Plan: +7.0% return
    • 5-Day Plan: +1.3% return
    • 15-Day Plan: +1.45% return
    • 30-Day Plan: +1.55% return

    These figures reflect historical averages and highlight the consistency and transparency of DRML Miner’s operations.

    About DRML Miner

    Founded in 2018 and legally registered in the UK, DRML Miner operates more than 120 sustainable mining farms powered by renewable energy. With over 7 million users globally, the platform is committed to making crypto mining accessible, eco-friendly, and profitable for all.

    Whether you’re a long-term XRP holder or exploring crypto for the first time, DRML Miner offers a secure, smart, and sustainable way to earn.

    Start mining XRP today at https://drmlminers.com

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI USA: Congressman Valadao Leads California GOP Delegation in Urging Governor Newsom to Suspend the Gas Tax Increase

    Source: United States House of Representatives – Congressman David G. Valadao (California)

    WASHINGTON – This week, Congressman David Valadao (CA-22) led the entire California Republican delegation in urging Governor Gavin Newsom to suspend the state’s upcoming gas tax increase on July 1, 2025. According to AAA, the national average price for a gallon of gas as of today is $3.22, but in California, the average price is $4.65 per gallon.

    “California already has the highest gas prices in the nation, and instead of providing some relief, Governor Newsom continues to make it worse,” said Congressman Valadao. “Central Valley families can’t afford to pay an extra 66 cents per gallon every time they fill up—and they shouldn’t have to. It’s time for Governor Newsom and the Democratic supermajority in Sacramento to finally suspend the gas tax, stop these harmful price hikes, and ease the burden on working families instead of adding to it.”

    For the last three years, Congressman Valadao has led efforts to suspend the annual July 1st gas tax increase to provide much-needed relief to California families. The lawmakers also urged a pause to the implementation of a California Air Resources Board’s (CARB) Low Carbon Fuel Standards (LCFS) update, which is expected to increase gas prices by an additional 65 cents per gallon.

    Congressman Valadao was joined in the letter by Reps. Doug LaMalfa (CA-01), Tom McClintock (CA-05), Kevin Kiley (CA-03), Darrell Issa (CA-48), Young Kim (CA-40), Jay Obernolte (CA-23), Vince Fong (CA-20), and Ken Calvert (CA-41).

    “At a time when Californians are already paying $1.44 more per gallon than the national average, the last thing they need is another gas tax hike and a costly new mandate from unelected CARB officials,” said Rep. LaMalfa. “The state is adding another 1.6 cents to the gas excise tax. CARB’s rule changes could drive prices up by as much as 65 cents more per gallon. We’ve warned the Governor repeatedly that this approach is destructive to California’s economy. He continues to ignore this reality. Refusing to change course will only worsen California’s future prospects.”

    “Californians are already paying the highest gas prices in the nation, and they’re set to increase dramatically,” said Rep. Kiley. “It won’t be long until we are paying an absurd $8 per gallon. The higher fuel cost and demand to import fuel will raise prices for virtually everything else people need to buy. Gavin Newsom and the Democratic legislature need to put policies in place immediately to prevent people from feeling even more financial stress than they already are.”

    “California is already home to the highest gas prices of any state in the nation – the Low Carbon Fuel Standard and gas tax only add more pain at the pump for hardworking families,” said Congresswoman Kim. “I will continue to urge Governor Newsom to suspend the burdensome gas tax and provide relief for Californians.”

    “Once again, unelected regulators at CARB are pushing policies that ignore the economic realities facing California’s working families and small businesses,” said Rep. Obernolte. “Our state already has the highest gas prices in the nation, and these new burdens will only make the situation worse. Californians—and my constituents—deserve relief, not more costly mandates.”

    “With Californians already getting crushed by some of the highest gas prices in the nation, Sacramento Democrats have forced yet another gas tax hike on hardworking Californians,” said Rep. Fong. “Families and businesses are struggling under the weight of rising costs, and now state legislators are asking them to pay even more to clean up their budget mess. Californians deserve real relief. Instead of piling on more taxes, we should prioritize infrastructure investment, use existing funds responsibly, and support in-state energy production to lower prices at the pump.”

    “Californians already pay the highest gas prices in the country due to the radical policies enacted by California Democrats,” said Rep. Calvert. “The last thing California families need is yet another tax increase raising the price of gasoline even higher.”

    Read the full letter here.

    ###

    MIL OSI USA News –