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Category: Economy

  • MIL-OSI United Kingdom: Putting Scotland’s Future in Scotland’s Hands

    Source: Scottish National Party

    Read John Swinney’s speech on independence at Scotland 2050 below:

    Thank you for that warm welcome.  It is encouraging to see so many people here today, invested in the future of our country and keen to work together to build it.  

    This is not only about the future of our country.  It is about our future.  And that of our children and our grandchildren.  

    I am up here speaking as a father, and grandfather, as well as First Minister.  This is about the world we build for Scotland’s next generation.  And how we make our nation – and, as much as we can, our world – the best it can possibly be.

    I spend a great deal of time thinking about this – about what we want our shared future to look like, and what we must do today to create it.

    But first, before turning to the Scotland we seek and the Scotland we have the ability to make, I want to share some details of a new analysis the government has published, Future Trends for Scotland.

    Drawing on a wide range of practitioner and other expert views, and shaped also by insights from young Scots, it sets out the trends we think are most likely to shape Scotland in the next 10 to 20 years. I hope that it can in some way shape your thinking, as it certainly will ours.

    It is about challenges as well as opportunities, and both are important. The challenges facing Scotland, known in the present and possible in the future, are many, but the opportunities are more. We must never forget that reality. 

    Each generation faces its challenges, many as great, greater even than the ones our generation faces today, and, let us remind ourselves, we have always found a way through. 

    With the Future Trends horizon scan, we have the best available Scotland specific analysis to inform our decisions, both now and for the future. 

    You will recognise some of the trends the work has identified.

    A growing risk to our democracy because of mis- and disinformation, with trust in institutions falling.

    Conflicts more frequent.

    Climate change impacting soil quality, biodiversity, food supply. 

    Global progress on inequality stalling.

    And, as a result of these and other global trends, increasing voluntary and involuntary migration.

    No guarantee living standards will increase, but a real risk of ongoing wealth and income inequality at home and significant budgetary pressures as we struggle to meet the demands of an aging population.

    But also, growing success for Scotland in fields such as space and life sciences, new opportunities in energy, and widespread adoption of AI alongside the emergence of quantum technology.

    Both hurdles and new horizons for our society and economy. Warnings where we need to change, or up the pace, but also doors opening, if we have the courage to walk through them with confidence, with boldness and self-belief.

    And it is by shaping strategy and policy towards achieving long-term outcomes that we will be ready for this new world as it evolves.  

    That is one of the reasons we are reforming the National Performance Framework so that it can provide us with a clear north star, with ambitious, citizen-centred outcomes to guide our choices and actions as we navigate this emerging new world.

    A reformed NPF will help reshape government in Scotland. It will enable us to better focus budgets, to reduce compartmentalisation and encourage collaboration between spheres of government, and with partners in the third sector and the business community. 

    It is one part, but an important part of focusing government on delivering on the priorities of the people of Scotland as we build towards our vision of a Scotland that is more vibrant, more successful, more ambitious even than the Scotland of today. 

    But before looking forward, I wish to first look back.

    As others have observed, the Scotland of 2050 is as far removed from us today as the Scotland into which our parliament was born.

    Over the past quarter century, much has changed but the Scotland of today is not some alien land compared to the Scotland of then. 

    We can see clearly the threads connecting our reality now with choices made in the years between. 

    Yes, day-to-day life in Scotland has been fundamentally altered by technology – from the iPhone and the internet to emergent AI – and by geopolitics – from the rise of China to the impact of Russia’s invasion of Ukraine. By climate change, globalisation, deindustrialisation. 

    Changed also as a direct result of our disastrous withdrawal from the EU and by the wholly negative impacts of austerity in the UK on the vitality of our public services or on people’s living standards and quality of life. 

    But it has also been shaped, and changed for the better, by the Scottish Parliament’s ban on smoking, by minimum pricing on alcohol, or by our decisions to rapidly expand early learning and childcare, introduce HPV vaccination and modernise our school estate.

    Yes, the Scotland of 2050 will be shaped by a series of unpredictable forces, by new technologies we have only half-imagined in the pages of science fiction, by conflicts now only simmering, by people who are only just born. 

    But it will also be shaped by us. By the decisions we take, the policy choices we implement, the vision and path forward that we set out.

    That is a great responsibility, but for me it is also exciting, inspiring, and a he privilege to shape it as First Minister.

    So how do we get from where we are to where we want to be?

    A big part of the answer is ensuring that we are in charge of our own destiny. That we have our hands on all the levers we need to make the biggest difference.

    A fiscal squeeze, better dealt with if we are fully in charge of our nation’s finances.

    The complexities of navigating climate change, much easier if we are in charge of energy policy and our vast energy resources.

    Making sure we have a big enough working population to meet the demands of an aging population, more options, more solutions possible, if we are in charge of our immigration policy, or members again of the EU.

    But I will come back to that, to how we can truly put Scotland’s future in Scotland’s hands.

    As we look around our land in 2050, my hope is that we see a modern, dynamic Scotland, a compassionate, enterprising, forward-looking nation state, back where it belongs at the heart of Europe.

    We have taken the climate challenge and seen it as an opportunity for a complete redesign of our ways of living. For example, district heating schemes in every community, an everyday part of life, delivering low-cost heating, and significantly lower energy bills. More liveable communities, full of climate positive, modern, affordable homes, with rethought and rediscovered High Streets. More of our food grown locally, and technology enabling more of what we use every day to be produced locally. 

    We are a clean energy nation, with the vast amounts of low-cost renewable energy that we produce fuelling a host of new business opportunities. Data centres, research centres, energy intensive manufacturing industries. Low-energy costs making it cheaper to produce food. Low-energy costs making it cheaper to heat our homes. Scotland a clean energy powerhouse. An energy rich Scotland finally meaning also energy rich Scots.

    We are a high-tech, clean tech country, with our public realm digitally transformed, high-tech solutions delivering more effective, more personalised health interventions, the right systems in place to manage the acute and support us more effectively as we enter old age.

    We have seen too-high levels of child poverty not in terms of handouts, but as a handbrake on our potential, as a limit on the success our nation can achieve. And we have acted decisively to eradicate child poverty in our land. As a result, we have released the potential of tens of thousands of ambitious, eager and talented young Scots, young men and women who are playing a crucial role, a fundamental role, in building our nation anew. 

    We have looked at our place in this world and decided that the union that offers the greatest opportunity, that provides the greatest security is the European Union.

    How do we get there? 

    In part, through the perhaps mundane reality of good government. That has been my focus since I became First Minister. Interventions in that vein like a realistic medium-term finance strategy, an effective population health strategy and a clear-eyed and mobilising programme of public sector reform – all initiatives being launched over the coming week.

    By having government focused on a clear set of priorities, and producing policy that is determined by the real-world, real-life needs of people rather than what might best suit the system. 

    Eradicating child poverty. Boosting economic growth. Delivering climate action. Improving public services, especially the NHS. This prioritisation of government action on those things that matter most to people, those things that will deliver the most for people, is at the very heart of what I am trying to achieve as First Minister. Listening to the public and addressing the strain they fell over the cost of living.

    It is also about collectively owning the vision and uniting in our determination to get there. It is about focusing our efforts behind a sharp and clear set of national outcomes and ambitious short-, medium- and longer-term national goals.

    However, most importantly, it is about deciding to take Scotland’s future into our own hands. 

    It is only by taking charge of our own destiny, with our own hand on the tiller, that we are better able to ride the waves of change, that we are better able to shape our own future.

    That does not mean a Scotland standing alone, but rather a nation that has worked out its place in the world, and the contribution it wants to make to the world. An ongoing deep and rich partnership with the other nations of these isles, absolutely, but ultimately as a nation state in our own right, as a Member State of the world’s largest trading block, the world’s biggest social and economic community, the European Union. 

    I have long believed that Scotland is an afterthought to successive UK governments. Scotland is not on Westminster’s radar in the same way, say, as London, the Midlands or the Southeast. From a UK perspective that is completely understandable, but from a Scottish perspective, to accept it is total madness. 

    It holds us back in ways big and small, leaving us waiting and praying, hoping that decisions taken at Westminster are not too damaging. 

    We are prey to a broken system and a failing economic model – a system that delivers for a very few at the very top, while living standards stagnate and real wages are squeezed for the vast majority.

    It means, as a nation, that we must try to thrive on what amounts, at worst, to poison pills and, at best, policy scraps from the UK table. 

    All this when we have the capacity to stand and flourish on our own two feet.

    I know there are many in this room who are not yet persuaded by the case for independence, and others who will never be. I respect that.

    But independence is the defining choice for this generation, have no doubt. Because the UK status quo has proved itself incapable of delivering on the hopes and ambitions of the people of Scotland.

    That is why, like a clear majority of Scots, I believe that our nation should have the right to choose.

    If this is a voluntary union, as Westminster politicians insist, then it is completely untenable that there is no mechanism for Scotland to leave the Union if it so wishes.

    Whether it is Keir Starmer, Kemi Badenoch or Nigel Farage, no Westminster politician should have the ability to deny Scotland her right to national self-determination. 

    I want to close today with a piece of poetry that I think perfectly captures this moment in time for our nation. It was written by Liz Lochhead, Scotland’s Makar from 2011 to 2016. It has just been given pride of place, alongside many other inspirational lines of poetry and prose, on the Canongate wall of the Scottish Parliament.

    She wrote,

    this

    our one small country . . .

    our one, wondrous, spinning, dear green place.

    What shall we build of it together

    in this our one small time and space?

    Today, you have heard something of my answer, something of my ambition for Scotland. It is a vision of a country that is fairer, wealthier, more at peace with itself than the Scotland of today. 

    A Scotland that is modern, dynamic and forward-looking, living in anticipation of what more can be done, what else can be achieved. Moving forward as one, moving forward with hope and self-belief.

    Such a Scotland is within reach, I have no doubt. But if we want it, we have to work for it, we have to vote for it, we have to actively, purposefully, and I hope also joyfully, make it happen.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Chinese-Kyrgyz cooperation has great potential – Xi Jinping /more details/

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    ASTANA, June 17 (Xinhua) — Chinese President Xi Jinping on Tuesday said cooperation between China and Kyrgyzstan has great potential, calling on the two countries to increase trade and investment and expand cooperation in developing sectors.

    Xi Jinping made the statement at a meeting with Kyrgyz President Sadyr Japarov on the sidelines of the second China-Central Asia summit in the Kazakh capital Astana.

    Since the establishment of diplomatic relations 33 years ago, Chinese-Kyrgyz ties have developed rapidly and are now at the highest level in their entire history, Xi Jinping noted.

    He recalled the fruitful meeting with S. Japarov in February in Beijing. During the talks, a number of important consensuses were reached, giving a new and powerful impetus to bilateral cooperation.

    China is willing to work with Kyrgyzstan to continuously deepen the alignment of development strategies, continue to firmly support each other on issues concerning their core interests and major concerns, and safeguard the common and long-term interests of both sides, Xi said.

    Xi Jinping called on the two sides to deepen financial cooperation, improve connectivity networks and promote high-quality construction of the China-Kyrgyzstan-Uzbekistan railway.

    He also called on both sides to stimulate new growth factors in clean energy, green minerals and artificial intelligence, strengthen exchanges in areas such as culture, tourism, education and health care, and implement more projects to benefit the peoples of the two countries.

    Xi Jinping stressed that China and Kyrgyzstan are beneficiaries of economic globalization, and called on the two sides to jointly oppose unilateralism, firmly safeguard the international economic and trade order, and promote the building of a more fair and equitable global governance system.

    Recalling that China and Kyrgyzstan will take turns chairing the Shanghai Cooperation Organization (SCO) and hosting summits, Xi Jinping said Beijing is ready to work with Bishkek to support each other and jointly promote the further development of the SCO.

    For his part, S. Japarov said that under the outstanding leadership of Chairman Xi Jinping, China is moving along the path of prosperity and strength, achieving great achievements and playing an important leadership role in the international arena.

    The Kyrgyz side attaches great importance to the development of relations with China and values strategic partnership based on mutual respect, equality and mutual benefit, as well as good-neighborly friendship, he said.

    According to him, the Kyrgyz side firmly supports China in matters concerning its fundamental interests, adheres to the one-China principle, and also opposes any form of “Taiwan independence” and any interference by external forces in the country’s internal affairs.

    Noting that China is Kyrgyzstan’s largest trade and investment partner, the President indicated that the Kyrgyz side invites more Chinese companies to do business in Kyrgyzstan and is ready to work with China to jointly advance projects such as the China-Kyrgyzstan-Uzbekistan railway, strengthen cooperation in energy, green minerals and other areas for the benefit of the peoples of the two countries.

    Bishkek actively supports three important global initiatives put forward by Chairman Xi Jinping and is ready to cooperate with Beijing for their joint implementation, said S. Japarov.

    He added that Kyrgyzstan will closely coordinate positions and cooperate with China within the framework of the UN, SCO and the China-Central Asia mechanism to promote regional and global security, stability, development and prosperity.

    Following the meeting, the two heads of state attended a signing ceremony for a number of bilateral cooperation documents covering agriculture, customs, science and technology, media and other areas. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: Mfume and Sessions Examine DOD’s Progress Toward Achieving a Clean Audit

    Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

    WASHINGTON, D.C.—Subcommittee on Government Operations Ranking Member Kweisi Mfume (D-MD) and Chairman Pete Sessions (R-TX) continue to examine the Department of Defense’s (DOD) financial management practices and path toward achieving a clean audit. In a letter to DOD Secretary Pete Hegseth, the lawmakers request a bipartisan briefing on DOD’s updated efforts to address any outstanding issues related to the Department’s financial management and progress toward achieving a clean audit by December 2028, with a plan declared by the end of June 2025. 

    “DOD spending comprises nearly half of the federal government’s discretionary spending and its physical assets make up more than 70 percent of the government’s physical assets. The failure to fully account for these assets and spending results in gaps in DOD’s operational readiness and the financial strength of the entire federal government,” said the lawmakers. “Experts from the DOD Office of the Inspector General, and the Government Accountability Office (GAO) detailed the challenges that DOD faces and necessary actions to increase the likelihood of achieving a clean audit opinion by the mandated deadline of December 31, 2028.”

    This examination of DOD’s progress is part of the Subcommittee’s larger investigation into DOD’s discretionary spending and ineffective financial management that prevents them from achieving a clean audit.  The Subcommittee held a hearing on April 29, 2025, to track DOD’s progress toward achieving a clean audit. DOD has failed seven financial audits and has not achieved a clean audit since being required to in 1990. The U.S. Marine Corps is the only service to obtain a clean audit opinion. The Department’s long history of poor financial and fraud risk management also makes it highly susceptible to fraud, waste, and abuse. The U.S. House Committee on Oversight and Government Reform will continue to examine how DOD can be a better steward of taxpayer dollars.

    “In correspondence received in lieu of attendance, we were assured ‘that working towards a ‘clean audit’ is among the Department’s top priorities.’ As stated in previous hearings, if DOD is to achieve a clean audit opinion by December 2028, significant progress must be made by fiscal year 2026. Based on testimony before the Subcommittee, there is still a lot of work ahead for the Department. To assist the Committee’s oversight of this matter, we request a briefing on DOD’s efforts to address outstanding issues related to financial management and plans for achieving a clean audit opinion for the Department, by June 30, 2025,” concluded the Members. 

    Read the letter to Defense Secretary Pete Hegseth here.

    ###

    MIL OSI USA News –

  • MIL-OSI Canada: Statement from Chief Accessibility Officer Stephanie Cadieux on release of second report on accessibility in Canada

    Source: Government of Canada News

    June 17, 2025 – Ottawa (Ontario)

    Today, Canada’s first Chief Accessibility Officer, Stephanie Cadieux made the following statement, following the release of her second report on the outcomes being achieved under the Accessible Canada Act (ACA):

    “The Accessible Canada Act (ACA) has seven priority areas, including employment. While looking at overall outcomes under the ACA, this report places a special emphasis on what is happening with employment for people with disabilities, recognizing that progress in this area reflects progress overall.

    “Until the number of people with disabilities increases throughout the workforce, our progress in other areas will be slowed as well. Not only will hiring more people with disabilities position them to help identify gaps and challenges in accessibility that others may miss, but we also know that inclusive workplaces are more innovative and productive. The business case is irrefutable. Everyone benefits.

    “In spite of this, progress on employment for people with disabilities has been uneven and awareness and understanding of the ACA remains low. National surveys show that, despite minor improvements, many equity gaps remain. For example, people with disabilities are still less likely to be employed, to have a full-time job, or to have an income higher than $80,000. This is a significant loss, considering that more than 1 in 4 Canadians live with one or more disabilities, and that many of us, including those in the workforce, will experience a condition that affects our mental, cognitive, and/or physical functions at some point in our lives.

    “Some sectors are making progress faster than others. Overall, we still have a lot of work to do. Far too many people with disabilities in Canada are highly qualified and eager to work but are prevented from doing so. Systemic barriers to employment persist, from the hiring process to organizational culture and retention. Not only does this reduce opportunities and quality of life for people with disabilities, but it comes at a high cost to our economy, stalling innovation and hindering our competitiveness in the global marketplace.

    “This report includes four recommendations for action in key areas. It also includes testimonials from people with disabilities seeking work, or working in sectors from the service industry, to neurology, academia, law and the performing arts. Their reflections shed light on the undeniable value people with disabilities bring to their places of employment, clients, and the public as a whole.

    “We need to recognize that people with disabilities are vastly, diversely talented and stop limiting our assumptions about what they are capable of and what kind of work they can do. Attracting labour and top talent has never been more challenging, but doing so is critical. We can solve the problem of excluding skilled people. There are excellent models in Canada and in other countries to look to as examples of how to do it. I know the will is there. We just have to move from words to actions. 

    Quick facts

    • The role of Chief Accessibility Officer (CAO) was created by the Accessible Canada Act (ACA), which came into force in 2019
    • As an independent adviser to the Minister, the CAO provides advice on wide-ranging accessibility issues, monitors and report on progress made under the ACA, and provides annual reports detailing outcomes achieved under the ACA, as well as systemic and emerging accessibility issues
    • The Office of the CAO serves as a trusted source of information on accessibility, and supports the CAO in promoting a positive and productive dialogue between the federal government, disability stakeholders, national and international organizations
    • This report was developed with information gathered, in part, by conducting targeted interviews with disability service providers, post-secondary institutions, international experts, federally regulated entities (FREs) in the public and private sectors, provincial and territorial government departments, disability experts/advocates, and representatives from employees with disabilities networks across the federal public service, as well as through an examination of Accessibility Plans and Progress reports, which are required by FREs under the ACA.

    Related products


    Associated links

    MIL OSI Canada News –

  • MIL-OSI USA: As Trump moves to decimate state AI laws, Governor Newsom taps the nation’s top experts for groundbreaking AI report

    Source: US State of California Governor

    Jun 17, 2025

    What you need to know: Against the backdrop of President Trump’s massive and costly bill gutting laws protecting against AI-generated child pornography, scams, and other criminal activity, Governor Newsom is continuing his leadership by releasing a groundbreaking new report from leading experts and academics to help guide the responsible, safe, and ethical development and deployment of AI in California and beyond.

    SAN FRANCISCO – Today, Governor Newsom advanced California’s ongoing leadership in the responsible development and deployment of artificial intelligence with the release of a new report from world-leading AI academics and experts. The group, which was convened at the request of the Governor last September, today released its final report, The California Report on Frontier AI Policy. This landmark report will help pave the way for the responsible, ethical, and safe use of AI for the benefit of all Californians by offering a policy framework for workable guardrails based on an empirical, science-based analysis of the technology’s capabilities and risks. The announcement comes as President Trump pushes his massive spending bill, which includes a 10-year moratorium on state laws protecting against the misuse of AI, including California’s laws that ban AI-generated child pornography, deepfake porn, and robocall scams against the elderly.

    “California is the home of innovation and technology that is driving the nation’s economic growth — including the emerging AI industry. As Donald Trump chooses to take our nation back to the past by dismantling laws protecting public safety, California will continue to lead the way with smart and effective policymaking. I thank the experts and academics who responded to my call for this important report to help ensure that, as we move forward to help nurture AI technology, we do so with the safety of Californians at the top of mind.”

    Governor Gavin Newsom

    AI is already changing the world, and California will play a pivotal role in defining that future. As the fourth-largest economy in the world and the birthplace of the tech industry, California continues to dominate this sector as the leader in AI. The state is home to 32 of the 50 top AI companies worldwide. In addition to championing safe, responsible, and ethical development and use of this emerging industry, California is harnessing its potential to increase government efficiency and support state operations. 

    Studying AI’s risk and opportunities 

    Today’s report is a result of the Governor’s convening of leading experts on artificial intelligence and policy to help California develop workable guardrails for deploying generative AI (GenAI), focusing on developing an empirical, science-based trajectory analysis of frontier models and their capabilities and attendant risks. Authors include the  “godmother of AI,” Dr. Fei-Fei Li, Professor of Computer Science at Stanford University and Founding Co-Director of Stanford’s Human-Centered AI Institute;  Mariano-Florentino “Tino” Cuéllar, President of the Carnegie Endowment for International Peace and member of the National Academy of Sciences Committee on Social and Ethical Implications of Computing Research; and Dr. Jennifer Tour Chayes, Dean of the College of Computing, Data Science, and Society at UC Berkeley.

    The report includes recommendations on ensuring evidence-based policymaking, balancing the need for transparency with considerations such as security risks, and determining the appropriate level of regulation in this fast-evolving field.  

    Public engagement

    The report incorporated robust public participation in the drafting process. The final report incorporates public feedback submitted following the draft released in March 2025, and provides a framework that can help California policymakers, as well as policymakers across the country, provide guardrails on the frontier of AI development

    California’s AI global leadership 

    California has launched efforts to help the state take advantage of this emerging technology, while also creating responsible policy guardrails to protect Californians, including businesses and workers

    In 2023, Governor Newsom signed an executive order laying out California’s measured approach to state GenAI procurement. That EO has shaped the future of ethical, transparent, and trustworthy GenAI deployment, all while California remains the world’s GenAI leader. Within state government, projects are already underway to utilize GenAI to reduce highway congestion, improve roadway safety, and enhance customer service in a state call center. 

    First of-its-kind effort with NVIDIA

    In August 2024, the state partnered with NVIDIA to launch a first-of-its-kind AI collaboration. The initiative, signed by Governor Gavin Newsom and NVIDIA founder & CEO Jensen Huang, aims to train students, educators and workers; support job creation and promote innovation; and use AI to solve challenges that can improve the lives of Californians.

     

    Staying ahead of threats 

    Last year, Governor Newsom also signed a series of bills to crack down on sexually explicit deepfakes and require AI watermarking, ban AI-generated child pornography, protect consumers by preventing scams from AI-generated robocalls, protect performers’ digital likenesses, and combat deepfake election content. 

    Press releases, Recent news

    Recent news

    Jun 17, 2025

    News What you need to know: As Governor Newsom’s motion to block the Trump Administration’s illegal militarization of downtown Los Angeles heads to the Ninth Circuit, former military leaders agree – Trump’s takeover poses grave risk to both servicemembers and…

    Jun 13, 2025

    News What you need to know: Donald Trump is raiding public safety funds to bankroll his militarized birthday party this Saturday, while stripping local police departments, first responders, and communities across the country of the tools they need to keep Americans…

    Jun 13, 2025

    News What you need to know: President Trump’s illegal military deployment impacts firefighting resources already seeing cuts by the U.S. Forest Service. SACRAMENTO – With the risk of catastrophic wildfire on the rise as peak fire season sets in across California, the…

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI—Hagerty Joins Mornings With Maria on Fox Business to Discuss Conflict in Middle East, Budget Reconciliation, GENIUS Act

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, joined Mornings With Maria on Fox Business to discuss the conflict in the Middle East, the ongoing negotiations of the budget reconciliation package, and final passage of the GENIUS Act.

    *Click the photo above or here to watch*

    Partial Transcript

    Hagerty on Trump preventing Iran from obtaining a nuclear weapon: “It’s not surprising. President [Donald] Trump has been entirely clear this entire period that Iran needs to come to the table, that he will not allow them to have a nuclear weapon. Yet what does Iran do? Continues to tap the ball. They go past the 60-day window that they’d been given, and they continue to advance their nuclear program. It’s no surprise that Israel has taken the action that they have, Maria. I think they have no choice. This is an existential decision on behalf of [Israel Prime Minister Benjamin] Netanyahu. He cannot let Iran have a nuclear weapon because Iran’s been very clear: death to Israel and also death to America. We have to take them at their word. This regime has been nothing but using every tactic in the book to, basically, buy more time to ‘negotiate’ while, in the background, they continue to develop this weapon. This capability is something we can’t let them finalize. President Trump has been, again, extraordinarily clear. He will not let that happen.”

    Hagerty on the U.S. standing with Israel: “I think President Trump has been very clear. He’s not for these forever wars that go on. I agree with that. At the same time, he’s also been very clear that we stand with Israel. I think most people in America feel the same way. I think President Trump has a spectrum of options before him. I’m not going to get ahead of him and try to predict what he might do, but I’ll say this: Israel’s doing an incredible job. Their intelligence has been impeccable, and I think the Iranians need to wake up and realize they’re on their back foot. They’re on their back heel, and they need to get to the table quickly to get this resolved because they are not winning.”

    Hagerty on China supporting Iran’s terror regime: “They have been supporting Iran, Maria, over time. If you think about it, who’s been buying this illicit oil? Iran’s been evading sanctions. How? They’re selling their oil to China. China’s been providing the funds. The funds have been used, therefore, to build up Hamas, to build up Hezbollah, to build up Houthis. It’s Iranian technology, Iranian knowhow, that’s being used, along with Iranian funds, which are being, basically, funneled from China through Iran, back into these zones of terror. China needs to bring this to a complete halt. They need to join us, and we need to see this come to an end.”

    Hagerty on the ongoing budget reconciliation negotiations: “There’s a lot in that that, I think, is going to be refined. There’s going to be more deficit reduction orientation in what the Senate is working on right now. I’m not going to get in the middle of negotiations, but just take SALT, for example, the state and local tax exemption. It came over from the House with a $40,000 exemption per year. The Senate’s come back with a $10,000 exemption. That’s a negotiation that’s underway. Again, I’m not going to try to get ahead of the negotiators, but this is what’s going to take place. This is how it gets done here in Washington. Overall, though, I’d say this: we have to keep in mind that to not address this, to not address the extension of the 2017 Tax Cuts and Jobs Act, would deliver north of $4 trillion of tax increases to the American people. The White House budget model predicts that there would be a six percent decline in GDP next year, were that to happen. We’re not going to let that happen either, Maria. So, we’re in the process of fine-tuning. Everybody wants this to be as conservative as it can be, but also, it’s imperative that we get this passed and passed quickly, so the capital expenditure plans can firm up, so that the investments that we want to see happen in America do begin to get plans. The 2026 is the best year we’ve seen on record.”

    Hagerty on SALT provisions: “I think you look at the Senate, we don’t have a SALT constituency in the Senate. We don’t have [Republican] senators from California, New York, Illinois. We’re trying to address this, but we’re trying to do this in a fiscally responsible manner. Again, we’re in the middle of a negotiation. [Representative] Mike [Lawler] is at $40,000, the U.S. Senate right now is at $10,000. Again, I’m sure Mike will be clear in his point tomorrow, but we’re in the middle of a negotiation. We’ll see where it lands.”

    Hagerty on the IRA subsidies: “I think they’re going to be scrutinized very, very carefully, Maria. I understand the arguments that is that certain companies are relied, to their detriment, on the tax subsidies that were there, but I think we’re going through this with a fine-tooth comb. Certainly, we don’t want to see anymore new utilization of these types of tools, and I think they’re trying to minimize the disruption in the damage that might have occurred from those companies that have already relied upon it and started projects.”

    Hagerty on final passage of the GENIUS Act: “I’m very enthusiastic about the stablecoin legislation that I’ve led. We’ve been working on this for months. We have a strong bipartisan product. We will deliver that midday today. We’ll have it ready, and I think it’s got a tremendous amount of input from the industry, from my colleagues here. We’ve involved the administration. I think we’re going to have a great product that actually sets the stage for moving into a modern-day payment system into the 21st century. Getting us off the old system that was designed in the 1970s and eighties, making the dollar the key element in the digital arena. And frankly, it will stimulate more demand for U.S. treasuries. It will strengthen the dollar’s position as a reserve currency. We’re going to see that advance in a way that, again, takes a lot of friction out of an old, clunky system, reduces counterparty risk, reduces currency risk, and will bring a lot of working capital back to the companies that need it and back into the economy. With respect to the [Securities and Exchange Commission], I couldn’t ask for a better partner than [SEC Chairman] Paul Atkins. He’s doing a terrific job already. We’re going to be working arm-in-arm to try to help advance the entire cryptocurrency industry, the entirety of this industry, that’ll keep us on the cutting edge of the 21st century. As you mentioned, I want to make my state a hub. We’ve got Bitcoin miners there. We’ve got Bitcoin Park there. We had the great Bitcoin Conference there that President Trump attended. That’s where he announced that he would be firing [Former SEC Chairman] Gary Gensler. I think that received great applause, and I think everybody’s extremely happy to see someone, strong conservative, hard-nosed fellow, like Paul Atkins, coming into office. I’m looking forward to working, arm-in-arm, together with him.”

    MIL OSI USA News –

  • MIL-OSI: 74Software Appoints Julia Siepmann as Group Chief Human Resources Officer

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    74Software Appoints Julia Siepmann as Group Chief Human Resources Officer

    Paris, June 17, 2025 – 74Software today announces the appointment of Julia Siepmann as Group Chief Human Resources Officer, effective as of 19th May 2025.

    Julia Siepmann brings over 20-years of global experience in strategic human resources management within technology-driven companies undergoing companywide transformation. Throughout her career, she has demonstrated a strong ability to lead deep cultural evolutions, implement global HR frameworks, and foster inclusive, engaging, and high-performing work environments.

    Prior to joining 74Software, Julia served as Chief Human Resources Officer at Nielsen, Analytics Portfolio Organizations. She previously spent over 15 years at Teradata where she held Global HR leadership roles based in London and Singapore. Known for her thoughtful and structured approach, she has led numerous Global programs focused on HR transformation, employee engagement, and inclusion. Julia is based in London, United Kingdom.

    Patrick Donovan, Chief Executive Officer of 74Software, stated:

    “Julia’s appointment marks an important step in driving our development. We are committed to our team and their development, and her proven leadership and deep expertise in organizational transformation and talent management will be key assets in strengthening our corporate culture and sustaining our growth. We are pleased to welcome her to the executive leadership team.”

    Julia will play a central role in shaping and executing a human resources strategy aligned with 74Software’s development ambitions. Her mission will be to enhance organizational performance by fostering cohesion across entities, supporting talent development, and embedding a company culture rooted in respect, equity, and well-being.

    “I am delighted to be joining 74Software at a pivotal time in its growth as a portfolio company uniting several strong technology brands around shared values and a common culture,” said Julia Siepmann. “In a constantly evolving and competitive environment, HR plays a critical role in supporting this momentum and shaping a compelling, forward-looking employee value proposition. I look forward to contributing to the development of an inclusive, high-performing, and sustainable organization.”

    With this appointment, the Executive Committee of 74Software now comprises 9 members representing 4 nationalities:

    • Patrick Donovan, Chief Executive Officer
    • Éric Bierry, Deputy CEO, CEO of SBS
    • Roland Royer, CEO of Axway
    • Tobias Unger, Chief Financial Officer
    • Xavier Rebeuf, Chief R&D Operations
    • Paul French, Chief of Staff
    • Philippe Buisson, Chief of Integration and Secretary
    • Yann Metz-Pasquier, Chief Strategy Officer
    • Julia Siepmann, Chief Human Resources Officer

    About 74Software

    74Software is an enterprise software group founded through the combination of Axway and SBS – independently operated leaders with unique experience and capabilities to deliver mission-critical software for a data driven world. A pioneer in enterprise integration solutions for 25 years, Axway supports major brands and government agencies around the globe with its core line of MFT, B2B, API, and Financial Accounting Hub products. SBS empowers banks and financial institutions to reimagine tomorrow’s digital experiences with a composable cloud-based architecture that enables deposits, lending, compliance, payments, consumer, and asset finance services and operations to be deployed worldwide. 74Software serves more than 11,000 companies, including over 1,500 financial service customers. To learn more, visit 74Software.com

    Contacts – Investor Relations:

    Arthur Carli – +33 (0)1 47 17 24 65 – acarli@74software.com

    Chloé Chouard – +33 (0)1 47 17 21 78 – cchouard@74software.com

    Attachment

    The MIL Network –

  • MIL-OSI: Reliance Global Group Signs Letter of Intent to Sell Fortman Insurance for $5 Million in Cash

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, NJ, June 17, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today announced it has signed a non-binding Letter of Intent (LOI) to sell Fortman Insurance Agency (“Fortman”), a wholly owned subsidiary for $5 million in cash. The contemplated sale price represents a meaningful premium over the original acquisition cost, underscoring the Company’s ability to acquire, improve, and opportunistically monetize assets to drive shareholder value.

    Since acquiring Fortman, Reliance has implemented operational enhancements, upgraded internal systems, and established a strong leadership team. As a result, Fortman has evolved into a well-capitalized, efficiently run agency with a growing customer base and enhanced market presence.

    Ezra Beyman, CEO of Reliance, commented, “The potential sale of Fortman demonstrates our disciplined capital allocation strategy and commitment to value creation. We acquired Fortman at a compelling valuation, strengthened its operations, and are now positioned to realize a meaningful return. This contemplated transaction reflects our ability to execute and supports our broader goal of building a highly profitable and focused organization. Not only does the sale price represent a premium to what we paid for Fortman, but it also adds substantial cash to our balance sheet—an especially notable achievement in light of our current market capitalization. We believe that this highlights the substantial underlying value embedded across our broader portfolio.”

    Proceeds from the sale are expected to support Reliance’s planned acquisition of Spetner Associates (“Spetner”), a rapidly growing and synergistic insurance platform. As highlighted in previous announcements, Spetner has experienced robust growth in recent years and is expected to generate strong cash flow at both the subsidiary and parent company levels. The Company believes Spetner will integrate seamlessly into Reliance’s operations under the OneFirm strategy.

    “By monetizing Fortman at a premium, we are building internal cash reserves that are intended to advance the Spetner acquisition,” added Beyman. “This strategy reflects our commitment to enhancing shareholder value while pursuing transformative and accretive growth opportunities. We believe replacing our Fortman subsidiary with Spetner aligns with our long-term vision for scale, synergy, and sustained cash flow generation.”

    The LOI is non-binding and subject to customary due diligence and negotiation of definitive documentation. The Company will provide additional updates as the transaction progresses.

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance.  In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:

    • Our ability to complete the non-binding Letter of Intent to sell Fortman Insurance Agency for $5 million and to realize the contemplated premium over our original acquisition cost;
    • Our plans to deploy the proceeds from the Fortman sale for the proposed acquisition of Spetner Associates, Inc.;
    • Our expectation that the Spetner acquisition will close on commercially reasonable terms and receive any required regulatory and shareholder approvals;
    • Our objectives to continue acquiring, improving and opportunistically monetizing agency-level assets to drive shareholder value;
    • Our intentions to pursue disciplined, accretive growth opportunities in the InsurTech and insurance agency industries; and
    • Other statements of our plans, objectives, expectations and intentions with respect to future operations, financial results, products and services.

    These forward-looking statements are based on a number of assumptions, including the assumptions that: the LOI will not be terminated prior to execution of definitive purchase agreements; due diligence and documentation negotiations will proceed without material adverse findings; the Fortman sale and the Spetner acquisition will both close as expected; our revenue and EBITDA projections for Spetner are attainable; integration risks will be managed successfully; and there will be no material adverse changes in market, economic or regulatory conditions affecting our businesses. There can be no assurance that any of these assumptions will prove correct.

    There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These include, among others: the risk that the Fortman buyer may withdraw or renegotiate the terms of the LOI; delays or failure to complete either the Fortman sale or the Spetner acquisition; unanticipated liabilities or integration challenges in connection with Spetner; our inability to realize the projected revenue or EBITDA benefits; competition in the InsurTech and agency brokerage industry; changes in insurance regulation or Nasdaq listing requirements; general economic or financial market conditions; and the other risks and uncertainties described in the “Risk Factors” section of our Registration Statement on Form S-1 and our periodic reports filed with the Securities and Exchange Commission.

    You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and the other reports we have filed or will file with the SEC for a more complete discussion of risks and uncertainties. Except as required by law, Reliance Global Group, Inc. disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com 

    The MIL Network –

  • MIL-OSI: Top California Lender, LLC Closes $5.3 Million Loan for Mixed-Use Development

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, June 17, 2025 (GLOBE NEWSWIRE) — Top California Lender, a private lender specializing in commercial real estate lending, is proud to announce the successful closing of a $5.3 million loan to finance the acquisition of a mixed-use development in Boise, Idaho. This transaction highlights the company’s commitment to supporting innovative projects in emerging markets across the United States.

    The loan, structured as a 12-month bridge term with an interest rate of 9.5% and interest-only payments, supports the purchase of a 25,000-square-foot property featuring retail spaces and residential units in Boise’s thriving downtown area. The borrower, a local real estate group with a proven track record, plans to renovate the property to enhance its appeal to tenants, capitalizing on the city’s growing population and economic momentum. The loan includes no prepayment penalty, offering flexibility to adapt to market conditions.

    “This closing reflects our ability to provide fast, tailored financing for strategic investments in up-and-coming markets,” said Jerry Dean, CEO of Top California Lender, LLC. “We are thrilled to partner with this experienced team to unlock the potential of this Boise property and contribute to the area’s revitalization.”

    The deal underscores the increasing demand for acquisition financing in the Mountain West, where Boise’s economic growth continues to attract investors. Top California Lender’s efficient process, targeting closings within 30 days of approval, enabled the swift execution of this transaction, reinforcing its reputation as a trusted lender in the commercial real estate sector.

    For more information about Top California Lender’s loan programs, including Rehab/Renovation Loans, Construction Loans, Bridge Loans, Commercial Acquisition Loans, and Change of Use Loans, visit www.topcalifornialender.com or contact info@topcalifornialender.com.

    The MIL Network –

  • MIL-OSI: Top California Lender, LLC Closes $5.3 Million Loan for Mixed-Use Development

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, June 17, 2025 (GLOBE NEWSWIRE) — Top California Lender, a private lender specializing in commercial real estate lending, is proud to announce the successful closing of a $5.3 million loan to finance the acquisition of a mixed-use development in Boise, Idaho. This transaction highlights the company’s commitment to supporting innovative projects in emerging markets across the United States.

    The loan, structured as a 12-month bridge term with an interest rate of 9.5% and interest-only payments, supports the purchase of a 25,000-square-foot property featuring retail spaces and residential units in Boise’s thriving downtown area. The borrower, a local real estate group with a proven track record, plans to renovate the property to enhance its appeal to tenants, capitalizing on the city’s growing population and economic momentum. The loan includes no prepayment penalty, offering flexibility to adapt to market conditions.

    “This closing reflects our ability to provide fast, tailored financing for strategic investments in up-and-coming markets,” said Jerry Dean, CEO of Top California Lender, LLC. “We are thrilled to partner with this experienced team to unlock the potential of this Boise property and contribute to the area’s revitalization.”

    The deal underscores the increasing demand for acquisition financing in the Mountain West, where Boise’s economic growth continues to attract investors. Top California Lender’s efficient process, targeting closings within 30 days of approval, enabled the swift execution of this transaction, reinforcing its reputation as a trusted lender in the commercial real estate sector.

    For more information about Top California Lender’s loan programs, including Rehab/Renovation Loans, Construction Loans, Bridge Loans, Commercial Acquisition Loans, and Change of Use Loans, visit www.topcalifornialender.com or contact info@topcalifornialender.com.

    The MIL Network –

  • MIL-OSI: Top California Lender, LLC Closes $5.3 Million Loan for Mixed-Use Development

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, June 17, 2025 (GLOBE NEWSWIRE) — Top California Lender, a private lender specializing in commercial real estate lending, is proud to announce the successful closing of a $5.3 million loan to finance the acquisition of a mixed-use development in Boise, Idaho. This transaction highlights the company’s commitment to supporting innovative projects in emerging markets across the United States.

    The loan, structured as a 12-month bridge term with an interest rate of 9.5% and interest-only payments, supports the purchase of a 25,000-square-foot property featuring retail spaces and residential units in Boise’s thriving downtown area. The borrower, a local real estate group with a proven track record, plans to renovate the property to enhance its appeal to tenants, capitalizing on the city’s growing population and economic momentum. The loan includes no prepayment penalty, offering flexibility to adapt to market conditions.

    “This closing reflects our ability to provide fast, tailored financing for strategic investments in up-and-coming markets,” said Jerry Dean, CEO of Top California Lender, LLC. “We are thrilled to partner with this experienced team to unlock the potential of this Boise property and contribute to the area’s revitalization.”

    The deal underscores the increasing demand for acquisition financing in the Mountain West, where Boise’s economic growth continues to attract investors. Top California Lender’s efficient process, targeting closings within 30 days of approval, enabled the swift execution of this transaction, reinforcing its reputation as a trusted lender in the commercial real estate sector.

    For more information about Top California Lender’s loan programs, including Rehab/Renovation Loans, Construction Loans, Bridge Loans, Commercial Acquisition Loans, and Change of Use Loans, visit www.topcalifornialender.com or contact info@topcalifornialender.com.

    The MIL Network –

  • MIL-OSI Economics: Breaking down the chaos of a seemingly infinite workday

    Source: Microsoft

    Headline: Breaking down the chaos of a seemingly infinite workday

    In our recent 2025 Work Trend Index Annual Report, we charted the emergence of the Frontier Firm—powered by intelligence on tap, run by human-agent teams, and defined by a new role for every employee, the agent boss. These firms are redesigning business processes around AI and agents to scale rapidly, operate with agility, and generate value faster than traditional companies.

    But organizations will never complete their journey to becoming a Frontier Firm by concentrating on process alone. Our research, based on trillions of globally aggregated and anonymized Microsoft 365 productivity signals, reveals a challenging new roadblock: a seemingly infinite workday. 

    AI offers a way out of the mire, especially if paired with a reimagined rhythm of work. Otherwise, we risk using AI to accelerate a broken system. To get a handle on this barrier to transformation, let’s start our infinite workday. 

    The workday often begins before a lot of people are out of bed. By 6 am, many Microsoft 365 users are scanning overflowing inboxes in hopes of getting ahead. Our telemetry data shows:  

    • 40% of people who are online at 6 am are reviewing email for the day’s priorities. 

    • The average worker receives 117 emails daily—most of them skimmed in under 60 seconds. 

    • Mass emails with 20+ recipients are up 7% in the past year, while one-on-one threads are on the decline (-5%). 

    The inbox may still be the front door to work, but too often it opens to a flood of unprioritized chaos. 

    The chaos of the infinite workday

    It starts early, mostly in email, and quickly swells to a focus-sapping flood of messages, meetings, and interruptions. 

    By 8 am, Microsoft Teams overtakes email as the dominant communication channel, shifting the day into high gear.  

    • The average worker receives 153 Teams messages per weekday. 

    • Messages per person are up 6% YOY globally—more than 20% in regions like Central and Eastern Europe, the Middle East, and Africa, and over 15% in the UK and South Korea. 

    Each email or message notification may seem small, but together they can set a frenetic tempo for the day ahead.  

    The most valuable hours of the workday are often ruled by someone else’s agenda. Half (50%) of all meetings take place between 9–11 am and 1–3 pm—precisely when, as research shows, many people have a natural productivity spike in their day, due to their circadian rhythms. But our data reveals that we fill this time with meetings, leaving little room for deep focus. Tuesdays now carry the heaviest meeting load (23%), while Fridays taper to just 16%. Instead of deep work, these prime hours are spent cycling through a carousel of calls. 

    Meetings hijack prime focus time

    Studies show that many people have two natural performance spikes each day, but our data reveals that we fill one of them with meetings, leaving little room for focus work.

    An area chart showing average productivity levels for workers between the hours of 6 am and 12 am, indicating that a high percentage of meetings are often scheduled during peak productivity hours, leaving workers with less time to dedicate to focus work.

    But meetings aren’t the only force fracturing attention. By 11 am—peak productivity for many—message activity also surges, with 54% of users active. According to our telemetry data it’s the most overloaded hour of the day, as real-time messages, scheduled meetings, and constant app switching converge, making focus on any one task nearly impossible. 

    Calendars may show a break in meetings after lunch, but that could also be a mirage. During this time we see Word, Excel, and PowerPoint (WXP) usage surge as employees attempt focus work like writing, analyzing data, and creating decks—but that time is fragmented. Our telemetry data shows that, on average, employees using Microsoft 365 are interrupted every 2 minutes by a meeting, email, or notification. That competing digital noise doesn’t appear on calendars, but as many information workers will likely attest, it’s deeply felt. In fact, our global Work Trend Index survey shows that nearly half of employees (48%)—and more than half of leaders (52%)—say their work feels chaotic and fragmented. 

    The issue isn’t just volume—it’s sprawl. Our data shows that modes of communication are changing, coordination is more complex, and mental load is heavier.  

    • 57% of meetings are ad hoc calls without a calendar invite—and 1 in 10 scheduled meetings are booked at the last minute.  

    • Large meetings (65+ attendees) are the fastest-growing type—likely a result of employees navigating increasingly complex, cross-functional teams. 

    • Nearly a third of meetings now span multiple time zones—up 35% since 2021. 

    • And in the final 10 minutes before a meeting, PowerPoint edits spike 122%—the digital equivalent of cramming before an exam. 

    For many, the workday now feels like navigating chaos—reacting to others’ priorities and losing focus on what matters most. In a time when every hour counts, that drift could quietly drain energy and stall business progress. 

    The shift to the triple peak day that started during the pandemic is no longer a trend—for many, it’s the norm. Today’s workday stretches well into the evening. Our telemetry data shows that meetings after 8 pm are up 16% year over year, with global and flexible teams accounting for much of the increase. And it’s not just meetings: the average employee now sends or receives more than 50 messages outside of core business hours, and by 10 pm, nearly a third (29%) of active workers dive back into their inboxes, pointing to a steady rise in after-hours activity. 

    But “working late” can be experienced differently. A recent study from Microsoft Research found that remote workers often see evening hours as a productive window for quiet catch-up. Hybrid workers, by contrast, are more likely to experience that same time as a source of stress. For managers and leaders, this isn’t just a footnote—it’s a signal that can help set clearer expectations, shape team culture, and better support teams. 

    And for some, this pressure spills into the weekend—making Sunday feel like just another Monday:  

    • Our telemetry data shows a notable bump in weekend email usage. Nearly 20% of employees actively working on the weekend are checking their email before noon on Saturday and Sunday—waking up to work, even on typical days off. And over 5% are back in email on Sunday evenings (6 pm and later)—the Sunday scaries are real and measurable. 

    • And while email patterns mimic the workweek, other apps tell a different story: over the weekend, usage of WXP overtakes Teams messages as employees finally carve out time for uninterrupted focus work. 

    The infinite workday bleeds into evenings and weekends

    Boundaries are eroding as 1 in 3 employees say the pace of work over the past five years makes it impossible to keep up.

    This points to a larger truth: the modern workday for many has no clear start or finish. As business demands grow more complex and expectations continue to rise, time once reserved for focus or recovery may now be spent catching up, prepping, and chasing clarity. It’s the professional equivalent of needing to assemble a bike before every ride. Too much energy is spent organizing chaos before meaningful work can begin.  

    Leaders are feeling the squeeze. With flat budgets and rising pressure to perform, 1 in 3 employees in our global Work Trend Index survey responded that the pace of work over the past five years has made it impossible to keep up. The signals are clear: it’s time to break the cycle. The future of work won’t be defined by how much drudgery we automate, but by what we choose to fundamentally reimagine. AI can give us the leverage to redesign the rhythm of work, refocus our teams on new and differentiating work, and fix what has become a seemingly infinite workday. The question isn’t whether work will change. It’s whether we will. 

    Adopting AI isn’t enough. What you need now is a Frontier Firm mindset—one that questions how time is spent, how work gets done, and what truly drives impact. Here are three places to start: 

    1. Follow the 80/20 rule. In a world of flat budgets and shrinking attention, activity is not the same as progress. The most effective organizations know this—and act on it. Frontier Firms are putting the Pareto Principle into practice, focusing on the 20% of work that delivers 80% of the outcomes. AI makes this not only possible but scalable. By deploying AI and agents to streamline low-value tasks—status meetings, routine reports, admin churn—leaders can reclaim time for what moves the business: deep work, fast decisions, and focused execution. The companies that can win in the age of AI won’t just work harder—they’ll work smarter and sharper. Not sure where to start? Watch this leadership keynote from the Microsoft 365 Community Conference on Building the Future Firm.  

    2. Redesign for the Work Chart. Today, teams are organized by static functions like finance, marketing, and engineering. But with expertise available on demand through AI and agents, rigid structures add unnecessary friction. Take a product launch: content lives in marketing, data in analytics, budget in finance, and messaging with comms. A simple update like a price adjustment can take days and multiple meetings. It’s time to move from the org chart to the Work Chart—an agile, outcome-driven model in which lean teams form around a goal and use AI to fill skill gaps and move fast. At Supergood, an AI-first agency formerly called Supernatural, employees use a platform powered by decades of ad strategy to access insights instantly—no need to loop in a strategist on every brief. 

    3. Become an agent boss. There’s a new generation of professionals rising through the chaos—not by working more, but by working smarter. We call them agent bosses. Take Alex Farach, a researcher at Microsoft who uses a trio of agents to supercharge his work: one collects new research daily, the next runs statistical analysis, and the third drafts briefs to help connect the dots. Instead of getting bogged down in manual work, Farach can focus on what matters—fast, high-quality insights that benefit the entire team. This is the future of work: human-agent teams built to adapt and scale. 

    Methodology 

    Microsoft 365 Telemetry  
    All data is based on aggregated and anonymized Microsoft 365 productivity signals, ending February 15, 2025. Data excludes education (Edu) and European Union (EU) tenants. 

    • Interruptions 
      Employees are interrupted every two minutes during core work hours—275 times a day—by meetings, emails, or chats.  
      Calculated as a rolling 28-day sum of pings (meeting invites, emails, chats) per unique user per workday. The two-minute figure reflects the average time between pings during an eight-hour workday. The 275 is based on the 24-hour day. Based on the top 20% of users by ping volume received. 

    • Last-Minute PowerPoint Edits  
      Edits in PowerPoint spike 122% in the final 10 minutes before a meeting.  
      Calculated as a rolling 28-day sum of PowerPoint view and edit actions per meeting participant, measured across fixed time windows before meetings. 

    • Ad Hoc Meetings  
      60% of meetings are unscheduled or ad hoc.  
      Based on a rolling 28-day volume of unique meetings per user per workday. Represents the top 20% of users by meeting volume. 

    • After-Hours Chats  
      Chats sent outside the standard 9-to-5 workday are up 15% year over year, with an average of 58 messages per user now arriving before or after hours.  
      Calculated as a rolling 28-day sum of chats sent outside of Monday–Friday, 9 am–5 pm 

    • Late-Night Meetings & Cross–Time Zone Work  
      Meetings starting after 8 pm are up 16% year over year, driven by an increase in cross–time zone collaboration. 30% of meetings now span multiple time zones—a figure that has risen 8 percentage points since 2021.  
      Measured as a rolling 28-day sum of meetings starting between 8 pm and 11:59 pm, adjusted for each participant’s local time. 

    Work Trend Index Survey  
    The Work Trend Index survey was conducted by an independent research firm, Edelman Data x Intelligence, among 31,000 full-time employed or self-employed knowledge workers across 31 markets between February 6, 2025 and March 24, 2025. This survey was 20 minutes in length and conducted online, in either the English language or translated to local languages across markets. 1,000 full-time workers were surveyed in each market, and global results have been aggregated across all responses to provide an average. In the US, an additional sample of 4,500 full-time employed or self-employed knowledge workers was collected across nine sub-regions/metros. 

    Global markets surveyed include:   
    Argentina, Australia, Brazil, Canada, China, Colombia, Czech Republic, Finland, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Philippines, Poland, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Kingdom, United States, and Vietnam. 

    Sub-regions/Metros in the United States surveyed include: Atlanta, Austin, Boston, DC Metro, Houston, New York City, North Carolina, Pittsburgh, and the San Francisco Bay Area. 

    Audiences mentioned in the report are defined as follows: 

    • Knowledge workers: Those who typically work at a desk (whether in an office or at home). This group includes those who are in person or working remotely in some capacity. 

    • Leaders: Knowledge workers in mid to upper job levels (e.g., SVP, VP, Sr. Director, General Manager, EVP, C-Suite, President, etc.) who have at least some decision-making influence related to hiring, budgeting, employee benefits, internal communications, operations, etc. 

    • Employees: Knowledge workers who are not in mid to upper job levels or have no influence on decision-making related to hiring, budgeting, employee benefits, internal communications, operations, etc. 

    • Managers: Knowledge workers who manage a team or group of employees. Managers can be business decision makers or non-business decision makers. 

    • Frontier Firms: Leaders who say their company has organization-wide deployment of AI and believe their organization is a leader in actively investing in AI, and is measuring ROI on these investments. They say they have seen some ROI from implementation of AI and believe it is critical to their long-term success as an organization. They believe agents will be key to realizing a return on their company’s AI investments. These leaders say they work at organizations that are currently using agents or other AI tools that bring previously outsourced skill sets in-house, or are using multi-agent systems that collaborate to achieve a goal or execute complex workflows. Their company plans to moderately or extensively incorporate agents into its AI strategy over the next 12–18 months. 

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Anyone could be vulnerable to sim-swap fraud

    Source: Anglia Ruskin University

    By Hossein Abroshan, Anglia Ruskin University

    The cyberattack that has targeted Marks & Spencer (M&S) is the latest in a growing wave of cases involving something called sim-swap fraud. While the full technical details remain under investigation, a report in the Times suggests that cyber attackers used this method to access M&S internal systems, possibly by taking control of an employee’s mobile number and convincing IT staff to reset critical login credentials.

    Sim-swap fraud is not a new phenomenon, but it is becoming increasingly dangerous and more prevalent. According to CIFAS, the UK’s national fraud prevention service, Sim-swap incidents have surged from under 300 in 2022 to almost 3,000 in 2023. What had been mainly a risk to cryptocurrency investors or online influencers is now much more prevalent.

    This form of cyberattack shows how major companies and ordinary people can be compromised through a tactic that exploits human factors, such as trust and how we have built our digital identities around mobile phones.

    Sim-swap fraud begins when a scammer convinces a mobile operator to transfer a victim’s number to a new sim card, or even an esim (one that’s embedded in the device), under the scammer’s control.

    This can be done over the phone, through an online chat, or even with the help of a bribed insider. Once the number is transferred, all calls and texts intended for the victim are redirected to the scammer. This includes those crucial verification codes used for logging into email, banking, messaging apps such as WhatsApp, and government services such as HMRC.

    This alone would be dangerous. But what makes sim-swap fraud so influential is that the cyber scammer often already has access to a patchwork of personal data about their target. That information may have been collected from data breaches, phishing attacks, low-reputation websites, or even the victim’s social media.

    People often underestimate the extent to which they reveal themselves online: a birthday posted on Instagram, a phone number included in a job posting, or a home address used in an online giveaway. Scammers combine this data to build a convincing profile, enough to fool a mobile operator’s customer service staff into believing they’re talking to the real account holder.

    How the sim-swap fraud works

    Once the scammer gains control of a number, the consequences are extensive. Attackers can access sensitive information, including personal documents and request and receive password reset links for the user’s other accounts. They can log in to WhatsApp or Telegram accounts, read private messages, impersonate the user, and even contact friends or family members to conduct further scams.

    The victims might see false messages posted in their names or fraudulent transactions made from their accounts. This can lead to financial loss, reputation damage, as well as emotional and mental health issues on the part of the victims.

    In the case of M&S, attackers apparently used this access to manipulate internal processes and gain access to sensitive systems. This highlights a broader risk: many companies still rely on phone numbers as a secondary verification method for staff, making their systems vulnerable to the same cyberattack used against individuals.

    How sim-Swap fraud works – Hossein Abroshan

    Reducing the risk

    While real-time detection of mobile number hijacking remains difficult, taking specific steps can significantly reduce the likelihood of being targeted and victimised. People should avoid sharing personal data unnecessarily, especially across multiple platforms and, very importantly, on unknown or untrusted websites.

    Many attackers don’t obtain all the necessary information from a single source. Instead, they collect it incrementally, using public profiles, marketing databases and past leaks to form a comprehensive picture.

    Being mindful of where you share your phone number, birthday or other identifiers can make it harder for others to impersonate you. It is also crucial to learn how phishing works and how to recognise it, so you will not submit your sensitive information to phishing or fake websites.

    Avoiding SMS-based authentication, where possible, is another key step. Many services now support authenticator apps, such as Google Authenticator, Microsoft Authenticator, Due or Authy, which are not tied to your mobile number. For mobile accounts themselves, setting up a unique pin or password to your account, which must be provided to authorise any changes, can add an extra layer of protection. This makes it harder for someone to initiate a sim swap without that code. However, users alone cannot fulfil this duty.

    Mobile network operators must strengthen identity verification practices, moving beyond basic questions about names and addresses that can be easily gathered or guessed. Banks and other financial institutions should reconsider using SMS or, at the very least, SMS-only as the default method for sensitive authentication. And companies, particularly those handling personal data or financial assets, need to train their IT and customer service teams to recognise the signs of identity based attacks.

    Sim-swap fraud is effective not because it’s highly technical, but because it exploits our trust in phone numbers for identity verification. The M&S case and similar examples show how fragile that trust can be – and why securing our mobile identities is no longer optional.

    Hossein Abroshan, Senior Lecturer, School of Computing and Information Science, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Social enterprise café opens at Keady TMAC Centre

    Source: Northern Ireland City of Armagh

    (L-R) Elaine Leonard, Manager, The Appleby Trust; Lord Mayor of Armagh City, Banbridge and Craigavon, Alderman Stephen Moutray; Thomas O’Hanlon, Chairman of The Appleby Trust pictured at the launch of the new social enterprise café ‘The Gathering Rooms’ at the TMAC in Keady.

    A warm and welcoming space, friendly faces and good food at reasonable prices are on the menu at a new social enterprise café launched at the Tommy Makem Arts and Community Centre (TMAC) in Keady!

    Armagh City, Banbridge and Craigavon Borough Council is delighted to welcome The Gathering Rooms to operate a café at the TMAC – a new venture following on from The Gathering Rooms Café in Armagh, which is run by local charity, The Appleby Trust. The charity has been training and employing young people with autism since 2019.

    Since opening its doors five years ago, the project has helped over 100 young people with autism to develop practical employment and social skills to build confidence, boost independence and help to secure employment opportunities within the hospitality sector.

    The Lord Mayor of Armagh City, Banbridge and Craigavon, Alderman Stephen Moutray said:

    “Community facilities aim to be vibrant and inclusive places for people to meet and connect through social activities, workshops and classes, thereby reducing loneliness and social isolation, particularly in rural areas. This initiative will support this aim and provide training and employment opportunities to young people who may otherwise experience barriers to employment.

    “We encourage new users to visit the facility to find out more about the programme of events and activities on offer, along with support and funding available to community groups.”

    Under supervision, the young people learn how to work in the kitchen and front of house serving customers. They also get involved with the day-to-day running of the café by helping with orders and deliveries.

    Thomas O’Hanlon, Chair of The Appleby Trust said:

    “This is an exciting new venture for The Appleby Trust. As a social economy project operating across Armagh, Lurgan and Banbridge, we are committed to creating meaningful, supported employment opportunities. Through our Print It companies and our coffee shop in the Gathering Rooms, we provide valuable services while supporting those who rely on us. 

    “This new outreach marks a significant step forward — not only in expanding our footprint but in continuing our mission to support and empower individuals in our communities. We are initially operating two days a week from the TMAC, and we’re optimistic about extending this service to other locations in the future.”

    The Gathering Rooms at the TMAC will be open Mondays and Thursdays, 10am – 2pm, serving tea and coffee with freshly made scones and traybakes along with healthy breakfast options and light snacks.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: From neural networks to stock markets: how computer science is being developed at the Nizhny Novgorod HSE

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Established in 2011 International Laboratory of Algorithms and Technologies for Network Structure Analysis (LATASS) HSE University in Nizhny Novgorod conducts a wide range of fundamental and applied research, including joint projects with large companies: Sber, Yandex and other leaders of the IT industry. The methods developed by HSE scientists not only enrich science, but also improve the work of companies’ transport, and conduct medical and genetic research more successfully. HSE.Glavnoe talked about the work of the laboratory with its head, Professor Valery Kalyagin.

    — Tell us how the laboratory was created.

    — It was organized in 2011 under the Russian government mega-grant program. At that time, the work of a foreign scientist was a mandatory condition for participation in the competition. We were lucky that Professor Panagiotis Pardalos of the University of Florida responded to our proposal for cooperation. He continues to actively collaborate with the HSE and remains the scientific director of the laboratory. Oleg Kozyrev, Eduard Babkin and Boris Goldengorin actively participated in the preparation of the application. Boris Goldengorin played an important role in the development of the laboratory.

    At that time, the study of algorithms for analyzing network structures and what is now called computer science was a new direction for HSE in Nizhny Novgorod.

    Three years later, the grant work was highly appreciated by the Ministry of Education and Science of the Russian Federation, and it was extended for two years. When it was ending, we applied to create an international laboratory at the HSE, we were supported, and now we continue our work as a laboratory of the National Research University Higher School of Economics.

    In the first years of our work, we attracted many young researchers who later became renowned scientists and practitioners.

    — What interested them in the new laboratory?

    — They had a unique opportunity to develop, to work with famous scientists in a creative atmosphere. Almost all of them took advantage of it and over the past years have grown as scientists, researchers and teachers. The development strategy from the very beginning was built on the obligatory combination of scientific research and teaching. And now all our research staff teach, this component of the work, the transfer of experience and competencies, is very important for a scientist.

    — What have you managed to accomplish during this time?

    — Over the past years, the laboratory has become a well-known scientific center in Russia and in the world, largely due to the efforts of Professor Pardalos, who pays much attention to recognition. We have many contacts with colleagues from different universities and scientific centers. Our laboratory is a co-organizer of a large international conference on optimization and applications, we participate in its program committee, and our scientific director is a multiple honorary chairman of the program committee.

    We actively cooperate with our leading universities – MIPT, MSU, the Keldysh Institute of Applied Mathematics of the Russian Academy of Sciences, with Siberian and Ural scientific centers in Novosibirsk, Irkutsk and Yekaterinburg.

    — What are the key areas of your work?

    — These are mainly computer sciences: network models, technologies for analyzing network structures, various aspects of optimization, including problems of combinatorial or discrete optimization on graphs, applications to data mining.

    — How can this be explained to a person who is not knowledgeable in higher mathematics?

    — I will try to explain it in an accessible way. A network is a set of nodes and connections between them. The most understandable examples are social and telecommunication networks, where nodes are people or clients of a mobile operator, and connections are communications between them, measured in a certain way. This can be a graph with special attributes or a hypergraph.

    The optimization task is also clear: you have, for example, a social network, and you want to understand which nodes to place information in so that it passes through the network faster, or, on the contrary, which nodes to block so that a fake message stops circulating in the network.

    Another class of tasks that interests employees are large databases, queries for information in them. This is called the “nearest neighbor search problem” in a data array, when you give some query to a large data set and want to find the object in this database that is most similar to your query.

    If the database consists of 10-20 objects, there are no difficulties, but when there are many of them, you need to organize the search correctly and quickly. For this search, a special graph structure is created on this data, and it speeds up the search by an order of magnitude using special algorithms.

    — Is it possible to use your results in biology or medicine?

    — We are investigating a class of network models that includes some biological networks, such as the network of neurons in the brain or the co-expression network of genes.

    There are billions of neurons, and we can’t measure anything in these networks. But with the help of an electroencephalogram, it is possible to track the activity of individual areas of the brain and analyze the connections between them. Interesting network structures are being created that can be used to study brain activity, including in diseases — for example, analyzing neuron networks in Parkinson’s disease and epilepsy, which helps in their research.

    A gene co-expression network (GCN) is constructed based on gene expression profiles for multiple samples or experimental conditions. Researchers look for pairs of genes that show a similar expression pattern across all samples. The result is a network model that can be analyzed for practical purposes, such as identifying the most important nodes in the model. The identified gene cluster means that the gene and its neighbors have similar expression profiles. This can then be used to simplify drug testing.

    — How widely is your work applied in economics?

    — Another well-known network is stock markets. We analyze assets, identify connections between them. Taking them into account, a stock market network is formed. Analysis of stock market networks allows us to form investment portfolios. A classic example is the Markowitz model of the optimal investment portfolio. However, using such models does not mean that you will avoid a risk that can cancel out all potential income.

    Large trading companies, banks, and firms that advise investors want to have a clear model for how to form investment portfolios. They do not strive for super-profits, but want to invest reliably. And then network models turn out to be useful. Additional information about connections helps to identify portfolios with the necessary characteristics.

    – You and your colleagues are probably rich people.

    — We do not trade on the markets and do not give recommendations. Students write final theses on these and other topics and analyze how and which portfolios work on different markets.

    This does not replace analysis, but it is useful for it and opens up additional opportunities for activity in the stock market.

    For example, there is a possibility of choosing a portfolio by constructing a market network graph and identifying independent sets in it. It has been experimentally proven that such sets provide diversified and interesting portfolios in terms of profitability.

    — Do the models you have developed suggest different development scenarios?

    — The laboratory actively studies the uncertainty of algorithms for constructing various graph structures in network models such as gene co-expression networks, brain networks, and stock market networks.

    If uncertainty is high, then conclusions may be false: we hope to get rich, but our expectations do not come true.

    — How does solving fundamental scientific problems combine with applied work?

    — We have a strong group headed by Dmitry Malyshev. In its direction (algorithmic graph theory), the research of this group is closer to theoretical computer science and discrete mathematics. A significant number of postgraduate students and young employees of the laboratory have defended dissertations on these topics. Despite the fundamental theoretical nature of the research, it also has applied significance. Estimates of the computational complexity of problems on graphs help to identify computationally difficult problems and find classes of problems that can be solved quickly.

    In the first years of the laboratory’s work, we developed a direction of intelligent data analysis and AI. It is headed by Andrey Savchenko. He develops the direction of intelligent data analysis in conditions of limited resources, for example, on mobile devices that are less powerful than desktop computers or laptops. For example, we want to classify photos, texts, something else on our smartphone, but we do not have access to a powerful resource. On a smartphone, you cannot deploy a full-fledged neural network. He and his colleagues developed an approach that allows you to effectively solve such problems, and patented it as a result of intellectual activity (RIA). There are already applications that you can download and use.

    — Is this necessary now, when we are promised quantum computers with unlimited capabilities?

    — The head of a research center at a large foreign company recently said that we have returned to the situation of the 1970s, when scientists and practitioners, given the limited capabilities of processors and computer memory, paid special attention to the efficiency of algorithms. Then the speed of processors and the capacity of memory, including RAM, increased sharply, and this lost some of its relevance. Now the problem has returned, since we do not expect a significant improvement in hardware. When you train large language models or search large databases, you return to the need for fast calculations under conditions of limited resources. Now many large manufacturers of computing resources and IT companies are conducting research into the efficient use of existing capabilities. If we reduce calculations on at least one node by 1%, we will get a significant effect. We had a successful project with an IT company on the use of patterns (templates) of the computation graph to speed up the training of neural networks. Such tasks are becoming increasingly popular.

    The emergence of a quantum computer with unlimited capabilities is still not a matter for the very near future.

    — Which companies have used your developments?

    — We developed an algorithm for organizing the delivery of products to stores for a large retail chain. This is called the transport routing problem, it is also network-based and calculates traffic along a road network. The problem has high computational complexity. If you have 100 cars and 1000 stores and you want to optimize traffic, then solving such a problem manually is difficult. It is also not easy for a computer to solve it, but clever algorithms help. This enables AI to manage the logistics of transport use.

    — Is there a problem with the transition of scientists to industrial partners?

    — There is a problem of personnel outflow in IT companies. We start interacting with companies, companies see the qualifications of our personnel, offer them to engage in science and solve interesting problems and attract specialists with better conditions.

    — With which HSE departments does the laboratory collaborate?

    — The closest cooperation has been established with International Center for Analysis and Decision Making and with Laboratory of Applied Network Analysis.

    — How do you see the prospects for research?

    — We focus on a combination of fundamental and applied research so that we have both good theoretical results and publications, as well as joint projects with industry.

    The campus strategy is to expand applied research, and this is a nationwide trend. We must learn to meaningfully answer the question of how our theoretical developments can make a real contribution to the development of the country’s economy and social sphere. We see our prospects in the development of algorithms and technologies for artificial intelligence systems.

    In addition to the purely scientific component, popularization of science is important in order to make theoretical and applied results accessible to schoolchildren, our future students and laboratory staff.

    The laboratory, as one of the leading scientific centers in the field of computer science and applications, is open to new partnership projects of both fundamental and applied nature.

    — What educational programs do you participate in?

    “We are involved in two key programs on campus: “Applied Mathematics and Computer Science» (bachelor’s degree training) and «Intelligent data analysis» (training of masters). The laboratory’s subject matter is actively present in these programs. This is reflected both in teaching and in the students’ scientific work.

    All international laboratories develop research expertise and pass it on to young people. If we do not have contact with students, where will we recruit new young employees?

    I would like to add that our graduates are in demand in many companies and countries.

    — Why is it important to preserve fundamental research?

    — We are now seeing the second birth of mathematics, the development of intelligent data analysis and artificial intelligence technologies has generated tasks that require specialists with developed abstract thinking and a broad outlook, which fundamental mathematics provides. At the same time, many sections of mathematics are in demand. This is a sign of the 21st century.

    For example, we have a huge data set and are trying to understand how it is structured. Often, the high dimensionality of the data is an obstacle to its analysis. To reduce the dimensionality without losing information, we need to have a good understanding of many sections of fundamental mathematics – from classical methods of linear algebra and mathematical analysis to advanced probabilistic models and topology.

    Mathematicians have perked up, people see that they need to expand their field of activity to applied research, this is a characteristic feature of HSE.

    — How do you manage to maintain international connections?

    — We continue contacts with foreign scientists. Since 2012, we have regularly held an annual international conference on network analysis, international schools for young scientists. Almost everyone who came to Nizhny Novgorod continues to communicate, respond to proposals, despite the past pandemic and the current situation. For young scientists, this is an additional opportunity to assess the level of their research, it becomes clearer when in contact with colleagues from abroad. We strive for young people to actively communicate with guests. Students are also interested in this.

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

    MIL OSI Russia News –

  • MIL-OSI Analysis: China’s support for Mali’s military carries risks: researcher outlines what they are

    Source: The Conversation – Africa – By Paa Kwesi Wolseley Prah, Postdoctoral Fellow, Dublin City University

    Mali, a landlocked Sahelian nation of 25 million people, has faced significant instability since 2012, marked by terrorism, state neglect and armed conflicts.

    That year a Tuareg rebellion started in northern Mali and President Amadou Toumani Touré was ousted in a military coup. Constitutional rule was suspended. Rebels in northern Mali went on to seize cities like Timbuktu, Gao and Kidal, declaring an independent Islamic State of Azawad and imposing sharia law.

    They also destroyed cultural heritage sites, including 14 of Timbuktu’s 16 Unesco-listed mausoleums. The crisis prompted international intervention, including a UN authorised mission, which retook northern cities within weeks. Islamist rebels retreated into civilian populations and remote areas.

    Despite these efforts, violence against civilians by extremist groups and community militias has continued. By 2023, 8.8 million Malians needed humanitarian assistance. Over 375,500 were internally displaced, primarily women and children.

    Meanwhile, the former French colony had turned to China for military assistance. Between 2012 and 2013, China provided €5 million (about US$5.8 million) in logistical equipment to improve the Malian army’s mobility.



    Read more:
    China’s interests in Africa are being shaped by the race for renewable energy

    In August 2013, the Chinese People’s Liberation Army gave the Malian army military supplies totalling 1.6 billion CFA francs (about US$2.8 million). China made similar donations between 2014 and 2023.

    I am an international security and global governance researcher. My recent research explored the impact of China’s security sector assistance on Mali’s fragility.

    China’s assistance to Mali aims to equip the country to address terrorism and insurgency. But I argue that it may have unintended consequences and cause further damage to the country.

    The heavy reliance on Chinese supply exposes Mali to vulnerabilities, including supply disruptions, diminished bargaining power, and limited strategic flexibility. This could destabilise security even more should China face manufacturing issues or supply chain disruptions leading to delays or shortages in the production of weapons.

    It also raises concerns about the potential influence of China on Mali’s defence policies and decision-making processes. In turn this could entrench the Malian military government’s position. China takes a hands-off approach to the governance structures of the countries it engages with. Hopes of democratisation in the country could be affected.



    Read more:
    US trade wars with China – and how they play out in Africa

    Rich in resources

    Mali has significant natural resources, including 800 tons of gold reserves (it’s Africa’s fourth-largest producer), iron ore, manganese, lithium, and potential uranium and hydrocarbon deposits.

    In 2019, gold production generated US$734 million, or 9.7% of Mali’s GDP, supporting over 10% of the population.

    Chinese firms, such as Ganfeng Lithium and China National Nuclear Corporation, have invested heavily in Mali’s mining sector. They are involved in a US$130 million lithium project and uranium exploration in the Kidal and Falea regions.

    Despite security risks, including attacks on Chinese personnel in 2015 and 2021, China remains committed due to Mali’s resource potential.

    Beyond mining, China has invested in Mali’s infrastructure. A US$2.7 billion railway modernisation project connects Bamako to Dakar, facilitating resource exports like iron ore and bauxite.

    The total of Mali’s external debt to China is not explicitly stated. But the 2014 loan agreement of US$11 billion and the 2016 loan of US$2.7 billion alone suggest Mali’s debt to China could be at least US$13 billion. This is without including loans for projects like the Bamako-Ségou expressway, and bridges in Bamako.

    This has often been criticised as “debt trap diplomacy”, increasing recipient countries’ dependence on Beijing. In Mali, I believe this risks entrenching economic vulnerability and giving China geopolitical leverage.



    Read more:
    China reaps most of the benefits of its relationship with Africa: what’s behind the imbalance

    China’s security sector assistance to Mali

    Historically, Mali relied on France. More recently, it’s used Russia’s expeditionary corps, formerly known as Wagner Group, for security support.

    In 2011, China provided US$11.4 million in grants, US$8.1 million in zero-interest loans, and a US$100.8 million concessional loan to foster bilateral cooperation.

    China’s participation in the United Nations Multidimensional Integrated Stabilisation Mission in Mali, starting in 2013 with 395 personnel, marked a shift in its security engagement.

    Chinese peacekeepers, including engineers, medical personnel and security guards, repaired infrastructure, provided medical aid and supported Mali’s 2013 elections.

    Their professionalism earned praise from the UN special envoy Albert Gerard Koenders for helping to ensure a smooth election.

    China’s involvement in Mali challenged traditional European approaches to peacekeeping, particularly France’s military-heavy strategy.



    Read more:
    China-Africa relations: new priorities have driven major shifts over the last 24 years – 5 essential reads

    How China’s assistance contributes to Mali’s fragility

    In spite of the positives, China’s security sector assistance contributes to Mali’s fragility in several ways.

    First, its no-strings-attached nature allows Mali’s military junta to consolidate power without making democratic or governance reforms.

    This lack of accountability enables corrupt military factions to operate unchecked. Governance weaknesses and authoritarianism can continue.

    Second, the heavy reliance on Chinese supply raises concerns about the potential influence of China on Mali’s defence decisions.

    This over-reliance on military solutions risks escalating conflicts and could lead to human rights abuses by security forces, as seen in increased violence against civilians. It doesn’t address root causes of conflict like social cohesion or local governance.

    Third, Mali’s growing dependence on Chinese aid — both military and economic — makes it vulnerable to disruptions from geopolitical tensions, supply chain issues, or changes in China’s foreign policy. This limits Mali’s ability to diversify its military capabilities or respond to evolving threats.

    Finally, China’s infrastructure investments, such as the US$1.48 billion (750 billion CFA francs) Bamako-Dakar railway loan, creates “debt trap diplomacy”.

    This pattern deepens economic dependence and reduces policy autonomy, further weakening state resilience.



    Read more:
    Maps showing China’s growing influence in Africa distort reality – but some risks are real

    The way forward

    To mitigate the risks of Chinese security sector assistance and promote sustainable stability, Mali must adopt a multifaceted strategy.

    First, it should collaborate with China to align security sector assistance with civilian-led security approaches.

    Second, Mali should diversify security and economic partnerships with donors like the US, the UK, and the EU.

    Third, transparent guidelines, developed through consultation with stakeholders, should assess the impacts of assistance to avoid deepening dependence.

    Fourth, engaging civil society and publishing regular reports on security sector assistance use and outcomes will foster public trust.

    Finally, promoting regional economic integration and ties with global powers will bolster Mali’s economic resilience.

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

    – ref. China’s support for Mali’s military carries risks: researcher outlines what they are – https://theconversation.com/chinas-support-for-malis-military-carries-risks-researcher-outlines-what-they-are-257738

    MIL OSI Analysis –

  • MIL-OSI USA: Pressley Joins Trahan, Massachusetts Delegation to Demand Reversal of Trump Administration’s Disastrous Job Corps Center Closures

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Text of Letter

    WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07) joined Congresswoman Lori Trahan (MA-03) and fellow members of the Massachusetts Congressional Delegation, including Senators Elizabeth Warren (D-MA) and Edward J. Markey (D-MA) as well as Representatives Richard E. Neal (MA-01), Jim McGovern (MA-02), Jake Auchincloss (MA-04), Katherine Clark (MA-05), Seth Moulton (MA-06), Stephen F. Lynch (MA-08) and Bill Keating (MA-09) in demanding that the Trump administration reverse its decision to cancel federal Job Corps funding, threatening the abrupt closure of 99 contractor-operated Job Corps centers nationwide.

    Their letter to U.S. Secretary of Labor Lori Chavez DeRemer highlights the impact to Massachusetts’ three Job Corps centers: Shriver Job Corps Center in Devens, Grafton Job Corps Center in North Grafton, and Westover Job Corps Center in Chicopee.

    “We are writing to express our deep concerns regarding the Department of Labor’s recent decision to pause operations at Job Corps centers across the country. We urge you to consider the long-standing value and potential of the Job Corps program in offering young people a critical second chance at personal and professional success,” the lawmakers wrote.

    On May 29, 2025, the U.S. Department of Labor (DOL) announced a pause in operations at contractor-run Job Corps centers across the U.S. With more than 120 centers nationwide, the Job Corps program provides opportunities for low-income and at-risk youth to gain the skills necessary to begin successful careers in a skilled trade or other profession.

    “With 92,000 Massachusetts residents aged 18 to 24 living in poverty, the Shriver, Grafton, and Westover Job Corps Centers stand as vital resources for economic mobility and career development. Combined, they contribute an estimated $80 million to the local economy annually and across the state, we have seen the impact. Graduates have become union carpenters, plumbers, bricklayers, police officers, cybersecurity professionals, and entrepreneurs. This is not just an investment in the local talent pipeline for employers but an investment in our communities as many of these graduates stay in the region to live, work, and raise their families. Pausing operations at these centers at the end of the month will directly detract from workforce training and discourage economic development in communities across the country like Devens, North Grafton, and Chicopee,” the lawmakers continued.

    The decision to close Job Corps centers was met with swift legal opposition. On June 3, 2025, the National Job Corps Association, a trade organization representing Job Corps centers nationwide, filed a lawsuit against the DOL, arguing that the closure of the country’s largest residential career training program was both unlawful and based on misleading data about its performance. The following evening, U.S. District Court Judge Andrew L. Carter Jr. issued a temporary restraining order and preliminary injunction, blocking the DOL from suspending program operations.

    “The Job Corps program is built on second chances, and we urge you to offer this program the same opportunity to adapt and grow that it has provided its students for the last 60 years,” the lawmakers concluded.

    Text of the letter can be found here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Pressley Joins Trahan, Massachusetts Delegation to Demand Reversal of Trump Administration’s Disastrous Job Corps Center Closures

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Text of Letter

    WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07) joined Congresswoman Lori Trahan (MA-03) and fellow members of the Massachusetts Congressional Delegation, including Senators Elizabeth Warren (D-MA) and Edward J. Markey (D-MA) as well as Representatives Richard E. Neal (MA-01), Jim McGovern (MA-02), Jake Auchincloss (MA-04), Katherine Clark (MA-05), Seth Moulton (MA-06), Stephen F. Lynch (MA-08) and Bill Keating (MA-09) in demanding that the Trump administration reverse its decision to cancel federal Job Corps funding, threatening the abrupt closure of 99 contractor-operated Job Corps centers nationwide.

    Their letter to U.S. Secretary of Labor Lori Chavez DeRemer highlights the impact to Massachusetts’ three Job Corps centers: Shriver Job Corps Center in Devens, Grafton Job Corps Center in North Grafton, and Westover Job Corps Center in Chicopee.

    “We are writing to express our deep concerns regarding the Department of Labor’s recent decision to pause operations at Job Corps centers across the country. We urge you to consider the long-standing value and potential of the Job Corps program in offering young people a critical second chance at personal and professional success,” the lawmakers wrote.

    On May 29, 2025, the U.S. Department of Labor (DOL) announced a pause in operations at contractor-run Job Corps centers across the U.S. With more than 120 centers nationwide, the Job Corps program provides opportunities for low-income and at-risk youth to gain the skills necessary to begin successful careers in a skilled trade or other profession.

    “With 92,000 Massachusetts residents aged 18 to 24 living in poverty, the Shriver, Grafton, and Westover Job Corps Centers stand as vital resources for economic mobility and career development. Combined, they contribute an estimated $80 million to the local economy annually and across the state, we have seen the impact. Graduates have become union carpenters, plumbers, bricklayers, police officers, cybersecurity professionals, and entrepreneurs. This is not just an investment in the local talent pipeline for employers but an investment in our communities as many of these graduates stay in the region to live, work, and raise their families. Pausing operations at these centers at the end of the month will directly detract from workforce training and discourage economic development in communities across the country like Devens, North Grafton, and Chicopee,” the lawmakers continued.

    The decision to close Job Corps centers was met with swift legal opposition. On June 3, 2025, the National Job Corps Association, a trade organization representing Job Corps centers nationwide, filed a lawsuit against the DOL, arguing that the closure of the country’s largest residential career training program was both unlawful and based on misleading data about its performance. The following evening, U.S. District Court Judge Andrew L. Carter Jr. issued a temporary restraining order and preliminary injunction, blocking the DOL from suspending program operations.

    “The Job Corps program is built on second chances, and we urge you to offer this program the same opportunity to adapt and grow that it has provided its students for the last 60 years,” the lawmakers concluded.

    Text of the letter can be found here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Celebrating Completion of $45M Food Hub in the Bronx

    Source: US State of New York

    overnor Kathy Hochul today announced the completion of the New York State Regional Food Hub, a $45 million cold-storage facility that will transform food access across New York. The first-of-its-kind 60,000 square-foot facility, operated by GrowNYC in the Hunts Point neighborhood of the Bronx, will enable a 600 percent increase in locally-sourced food distribution — from approximately 3 million pounds to 20 million pounds annually by 2034 — while creating over 200 new jobs and providing a critical economic lifeline to New York farmers. The facility, supported by $19 million from New York State, as recommended by the New York City Regional Economic Development Council, represents a joint State and City investment designed to strengthen the local food economy, support New York farmers, and improve access to healthy and affordable foods for low-income communities.

    “The New York State Regional Food Hub is a game-changer for families and farmers across New York,” Governor Hochul said. “From the streets of the Bronx to the farms of Batavia, the Empire State has so much to offer. That’s why we invested in this massive GrowNYC facility to expand access to fresh, local food while creating new economic opportunities for our agricultural producers.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “We are proud to support this transformative infrastructure that will create jobs and dramatically expand access to affordable, healthy food for New Yorkers. ESD’s strategic investment enhances the efficiency, sustainability, and equity of our state’s food system by connecting upstate farmers directly to downstate markets, ensuring urban families have access to the quality produce they deserve. The New York State Regional Food Hub represents a model investment that will benefit communities across our state.”

    New York State Agriculture Commissioner Richard A. Ball said, “The New York State Regional Food Hub is designed to be a game changer for our farmers bringing product to market and to our families who will have greater access to quality New York grown fruits and vegetables. We learned during the pandemic that we needed to double down on our efforts to strengthen the food supply chain and make sure that we had a food system right here in New York that was resilient and could feed its communities. This Food Hub is a tremendous piece of that puzzle and will provide an incredible benefit to our underserved populations and to our farmers.”

    GrowNYC President and CEO Marcel Van Ooyen said, “We’re beyond grateful for the vast support from City and State leaders that led to the completion of this state-of-the-art facility and that will advance our work promoting equitable food access in New York. Our Food Hub provides ample opportunities for GrowNYC and farmers to make a tangible impact on the everyday lives of underserved New Yorkers, and I’m hopeful it will serve as a scalable model for how cities across the United States can combat hunger while supporting local farm systems.”

    The Food Hub will enable GrowNYC to quadruple its aggregation and distribution square footage, dramatically expanding wholesale distribution capacity to make fresh, local foods accessible to underserved New Yorkers. The facility will serve wholesale buyers including institutions and restaurants while strengthening innovative partnerships with nonprofit organizations. Building on GrowNYC’s current work distributing free produce through New York State Department of Agriculture and Markets New York Food for New York Families program — which unites a network of 20 community partners including Graham Windham and The POINT to serve the Hunts Point community and beyond — the expanded Hub will significantly scale these vital food access efforts. Additional funding was provided by the New York City Economic Development Corporation, the New York City Council, U.S. Economic Development Administration, Bank of America, and others.

    The facility addresses a critical need identified during the COVID-19 pandemic, when food insecurity in New York City grew from 1.4 million residents to approximately 2 million. By sourcing food directly from regional farms and creating new jobs, the Hub will support New York State farmers — particularly small- and mid-sized operations — while increasing food distribution capacity and enhancing access to New York City’s wholesale marketplace. The processing facility will assist upstate producers and processors in targeting institutional and private sector procurement opportunities, offering a significant boost to New York’s agricultural economy while building a more resilient food supply chain.

    NYCREDC Co-Chairs Félix V. Matos Rodríguez, City University of New York Chancellor, and William D. Rahm, CEO of Everview Partners, said, “The NYCREDC sees the Food Hub as a vital tool to address our region’s needs, and an engine of economic opportunity for New York City and our upstate neighbors. The expansive cold storage space will help alleviate food insecurity — a major struggle for many households in the region — and support farming communities’ livelihoods. This investment strengthens our regional food system and builds economic partnerships that benefit communities across New York State.”

    State Senator Michelle Hinchey said, “Strengthening the connection between upstate farmers and downstate communities has long been one of New York’s greatest opportunities — and the NYS Regional Food Hub brings that vision to scale. Every New Yorker deserves to eat fresh, healthy food, and this innovative model lays the groundwork to expand food access to more New Yorkers, especially those in historically underserved communities. It sets a national standard for how we fight hunger and invest in agriculture as a powerful engine of both economic growth and social progress, and I’m proud to champion this project alongside partners who share that vision.”

    Assemblymember Donna Lupardo said, “We have anxiously awaited the opening of GrowNYC’s new Regional Food Hub. Providing expanded market opportunities for NY farmers is a win-win for them and for the communities who will benefit from fresh and locally sourced fruits and vegetables. I’m very happy that Empire State Development agreed with NYC’s Regional Council to make this substantial investment. I’m sure that other cities will want to emulate the work being done here.”

    The New York State Regional Food Hub was first developed as the result of the New York State-New York City Regional Food Hubs Task Force, which created a roadmap to build a Regional Food Hub System. The goal was to enhance the connection between upstate food producers and the downstate market, increase access to fresh food for underserved populations, boost in-state food production and consumption, and create new job opportunities in the growing sector of food manufacturing. As a high priority in the task force’s final action plan, this facility now serves as a national model for creating sustainable, self-sufficient food systems that safeguard local food supplies.

    MIL OSI USA News –

  • MIL-OSI Security: 2025 World Elder Abuse Awareness Day Announcement

    Source: Office of United States Attorneys

    BILLINGS — In recognition of World Elder Abuse Awareness Day, the U.S. Department of Justice (DOJ) announced yesterday that it has reinvigorated efforts to protect American seniors from transnational schemes that cost seniors billions of dollars, often stealing their life savings. In the past few weeks alone, DOJ prosecutors have arrested and filed cases against foreign fraudsters and domestic actors who have knowingly facilitated foreign-based crimes.

    “Our office will continue to vigorously prosecute those who would exploit our elderly friends, neighbors, and family members. We appreciate the efforts of our federal, state, local, and tribal partners to identify elder abuse in all its forms, physical, psychological, and financial.  But we also need everyone’s help by checking on older adults, especially those with few family members close by, and watching for signs and abuse or unusual financial transactions.  U.S. Attorney Alme said.

    See the U.S. Attorney’s Office Public Service Announcement on Elder Fraud: https://www.justice.gov/usao-mt/video/district-montana-elder-fraud-psa-60-seconds.

    The DOJ is highlighting a number of recent prosecutions, including one here in Montana, to protect American seniors. These include cases against those who engage in, and knowingly facilitate, romance fraud, lottery fraud, tech support fraud, and grandparent scams. Romance fraud is a confidence scheme where a perpetrator feigns romantic interest with a victim only to later extract money or property under false pretenses. Lottery fraud schemes trick victims into believing they have won a non-existent lottery or sweepstakes prize in order to extract fake fees, taxes, or other fabricated charges from the victim. Tech support fraud scams involve perpetrators tricking victims into believing that their computer or phone has a problem, often through fake pop-up messages, and to later seek funds from the victims in order to “fix” the “problem.” Grandparent scams, another type of confidence scheme, involve scammers impersonating a grandchild or close family member who experiences a fictitious emergency and needs money from the victim as soon as possible.

    Recently in Montana, an FBI and Missoula County Sheriff’s Office investigation resulted in the arrested a man allegedly involved in an India-based scheme that claimed to be U.S. Marshals targeting the elderly and resulted in the theft of over $1 million from an elderly victim. https://www.justice.gov/usao-mt/pr/india-based-amazon-scam-leads-almost-1-million-dollar-loss-elderly-victim-missoula

    Recovering Victim Loss

    Victims face many challenges in financially recovering from fraud schemes—and that is even more true for elderly victims. Many retired seniors are no longer earning income and cannot count on market appreciation to grow their retirement savings. Perpetrators may have already spent or forwarded victim funds beyond the reach of United States law enforcement. Victims may not have the resources to pursue legal action or hire legal representation. These, and other reasons, make it critically important that the DOJ work hard to achieve substantial victim restitution in cases we investigate and prosecute.

    National Elder Fraud Hotline 2025 WEAAD Campaign

    The National Elder Fraud Hotline is a free, national resource for older adults and their loved ones experiencing financial fraud. Supported by the DOJ Office for Victims of Crime, the National Elder Fraud Hotline is staffed by professionals who have experience working with older adults. Staff are continuously updated on the latest scams, are trained to make referrals and warm hand-offs for resources and services in the older adult’s local area and can assist older adults in placing a report with the FBI’s Internet Crime Complaint Center (IC3), a report which has the potential to freeze funds (although freezing funds cannot be guaranteed).

    The DOJ urges individuals to be on the lookout for fraudulent lottery, prize notification, sweepstakes, and psychic scams. If you receive a phone call, letter or email promising a large prize in exchange for a fee, do not respond. Fraudsters often will use official-sounding names or the names of real lotteries or sweepstakes or pretend to be a government agent purportedly helping to secure a prize.

    If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This DOJ hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is open Monday through Friday from 10:00 a.m. to 6:00 p.m. ET. English, Spanish, and other languages are available.

    More information about the DOJ’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit its website at www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints may be filed with the FTC at https://reportfraud.ftc.gov/  or at 877-FTC-HELP. The DOJ provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at www.ovc.gov.

    The DOJ notes that for all cases discussed above, facts included in a Complaint, Information, or Indictment are only allegations, and all defendants are innocent until proven guilty by evidence beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Africa: China’s support for Mali’s military carries risks: researcher outlines what they are

    Source: The Conversation – Africa – By Paa Kwesi Wolseley Prah, Postdoctoral Fellow, Dublin City University

    Mali, a landlocked Sahelian nation of 25 million people, has faced significant instability since 2012, marked by terrorism, state neglect and armed conflicts.

    That year a Tuareg rebellion started in northern Mali and President Amadou Toumani Touré was ousted in a military coup. Constitutional rule was suspended. Rebels in northern Mali went on to seize cities like Timbuktu, Gao and Kidal, declaring an independent Islamic State of Azawad and imposing sharia law.

    They also destroyed cultural heritage sites, including 14 of Timbuktu’s 16 Unesco-listed mausoleums. The crisis prompted international intervention, including a UN authorised mission, which retook northern cities within weeks. Islamist rebels retreated into civilian populations and remote areas.

    Despite these efforts, violence against civilians by extremist groups and community militias has continued. By 2023, 8.8 million Malians needed humanitarian assistance. Over 375,500 were internally displaced, primarily women and children.

    Meanwhile, the former French colony had turned to China for military assistance. Between 2012 and 2013, China provided €5 million (about US$5.8 million) in logistical equipment to improve the Malian army’s mobility.

    Read more: China’s interests in Africa are being shaped by the race for renewable energy

    In August 2013, the Chinese People’s Liberation Army gave the Malian army military supplies totalling 1.6 billion CFA francs (about US$2.8 million). China made similar donations between 2014 and 2023.

    I am an international security and global governance researcher. My recent research explored the impact of China’s security sector assistance on Mali’s fragility.

    China’s assistance to Mali aims to equip the country to address terrorism and insurgency. But I argue that it may have unintended consequences and cause further damage to the country.

    The heavy reliance on Chinese supply exposes Mali to vulnerabilities, including supply disruptions, diminished bargaining power, and limited strategic flexibility. This could destabilise security even more should China face manufacturing issues or supply chain disruptions leading to delays or shortages in the production of weapons.

    It also raises concerns about the potential influence of China on Mali’s defence policies and decision-making processes. In turn this could entrench the Malian military government’s position. China takes a hands-off approach to the governance structures of the countries it engages with. Hopes of democratisation in the country could be affected.

    Read more: US trade wars with China – and how they play out in Africa

    Rich in resources

    Mali has significant natural resources, including 800 tons of gold reserves (it’s Africa’s fourth-largest producer), iron ore, manganese, lithium, and potential uranium and hydrocarbon deposits.

    In 2019, gold production generated US$734 million, or 9.7% of Mali’s GDP, supporting over 10% of the population.

    Chinese firms, such as Ganfeng Lithium and China National Nuclear Corporation, have invested heavily in Mali’s mining sector. They are involved in a US$130 million lithium project and uranium exploration in the Kidal and Falea regions.

    Despite security risks, including attacks on Chinese personnel in 2015 and 2021, China remains committed due to Mali’s resource potential.

    Beyond mining, China has invested in Mali’s infrastructure. A US$2.7 billion railway modernisation project connects Bamako to Dakar, facilitating resource exports like iron ore and bauxite.

    The total of Mali’s external debt to China is not explicitly stated. But the 2014 loan agreement of US$11 billion and the 2016 loan of US$2.7 billion alone suggest Mali’s debt to China could be at least US$13 billion. This is without including loans for projects like the Bamako-Ségou expressway, and bridges in Bamako.

    This has often been criticised as “debt trap diplomacy”, increasing recipient countries’ dependence on Beijing. In Mali, I believe this risks entrenching economic vulnerability and giving China geopolitical leverage.

    Read more: China reaps most of the benefits of its relationship with Africa: what’s behind the imbalance

    China’s security sector assistance to Mali

    Historically, Mali relied on France. More recently, it’s used Russia’s expeditionary corps, formerly known as Wagner Group, for security support.

    In 2011, China provided US$11.4 million in grants, US$8.1 million in zero-interest loans, and a US$100.8 million concessional loan to foster bilateral cooperation.

    China’s participation in the United Nations Multidimensional Integrated Stabilisation Mission in Mali, starting in 2013 with 395 personnel, marked a shift in its security engagement.

    Chinese peacekeepers, including engineers, medical personnel and security guards, repaired infrastructure, provided medical aid and supported Mali’s 2013 elections.

    Their professionalism earned praise from the UN special envoy Albert Gerard Koenders for helping to ensure a smooth election.

    China’s involvement in Mali challenged traditional European approaches to peacekeeping, particularly France’s military-heavy strategy.

    Read more: China-Africa relations: new priorities have driven major shifts over the last 24 years – 5 essential reads

    How China’s assistance contributes to Mali’s fragility

    In spite of the positives, China’s security sector assistance contributes to Mali’s fragility in several ways.

    First, its no-strings-attached nature allows Mali’s military junta to consolidate power without making democratic or governance reforms.

    This lack of accountability enables corrupt military factions to operate unchecked. Governance weaknesses and authoritarianism can continue.

    Second, the heavy reliance on Chinese supply raises concerns about the potential influence of China on Mali’s defence decisions.

    This over-reliance on military solutions risks escalating conflicts and could lead to human rights abuses by security forces, as seen in increased violence against civilians. It doesn’t address root causes of conflict like social cohesion or local governance.

    Third, Mali’s growing dependence on Chinese aid — both military and economic — makes it vulnerable to disruptions from geopolitical tensions, supply chain issues, or changes in China’s foreign policy. This limits Mali’s ability to diversify its military capabilities or respond to evolving threats.

    Finally, China’s infrastructure investments, such as the US$1.48 billion (750 billion CFA francs) Bamako-Dakar railway loan, creates “debt trap diplomacy”.

    This pattern deepens economic dependence and reduces policy autonomy, further weakening state resilience.

    Read more: Maps showing China’s growing influence in Africa distort reality – but some risks are real

    The way forward

    To mitigate the risks of Chinese security sector assistance and promote sustainable stability, Mali must adopt a multifaceted strategy.

    First, it should collaborate with China to align security sector assistance with civilian-led security approaches.

    Second, Mali should diversify security and economic partnerships with donors like the US, the UK, and the EU.

    Third, transparent guidelines, developed through consultation with stakeholders, should assess the impacts of assistance to avoid deepening dependence.

    Fourth, engaging civil society and publishing regular reports on security sector assistance use and outcomes will foster public trust.

    Finally, promoting regional economic integration and ties with global powers will bolster Mali’s economic resilience.

    – China’s support for Mali’s military carries risks: researcher outlines what they are
    – https://theconversation.com/chinas-support-for-malis-military-carries-risks-researcher-outlines-what-they-are-257738

    MIL OSI Africa –

  • MIL-OSI: 2025 AI Governance Survey Reveals Critical Gaps Between AI Ambition and Operational Readiness

    Source: GlobeNewswire (MIL-OSI)

    LEWES, Del., June 17, 2025 (GLOBE NEWSWIRE) — Pacific AI, the healthcare AI governance company, today announced the results of the 2025 AI Governance Survey, exploring how organizations are managing the risks and responsibilities of deploying generative AI systems. Conducted in April and May by Gradient Flow, the results highlight the priorities, practices, and concerns of professionals and technology leaders in this space. The results will be presented in an upcoming webinar on the state of AI governance taking place at 2pm ET on June 18.

    As AI becomes foundational for modern business, governance should be top of mind. However, the results indicate that the pressure to innovate is outpacing the ability to scale AI systems safely and responsibly. Despite 75% of respondents reporting the existence of AI usage policies, only 59% have dedicated governance roles, and just 54% maintain incident response playbooks for AI-specific risks. Fewer than half (48%) of organizations are monitoring their AI systems for accuracy, misuse, or drift—numbers that drop drastically in small firms.

    The leading barrier to effective governance is the pressure to move fast. Nearly half (45%) of all respondents—and 56% of technical leaders—cite speed-to-market as the top challenge, often resulting in shortcuts that compromise safety. Technical leaders, who are driving the most aggressive deployment timelines, are simultaneously those most aware of these governance shortcomings.

    Other key findings show:

    • Production Reality Gaps. Only 30% of organizations have deployed generative AI systems to production, with just 13% managing multiple deployments. Large enterprises are five times more likely than small firms to have multiple systems running.
    • Technical Leader Ambition. Technical Leaders drive more aggressive adoption, with 48% targeting 3-5 new use cases versus 25% for other roles.
    • Small Company Vulnerability. Small companies consistently lag in governance maturity: only 36% have governance officers (vs 62-64% for larger firms), and just 41% provide annual AI training (vs 59-79%).
    • Regulatory Awareness Deficits. Familiarity with frameworks like NIST AI RMF remains concentrated in large enterprises. Small companies report only 14% familiarity with most major standards, exposing compliance risk.
    • Immature Incident Response. Many organizations lack protocols for AI-specific failure modes, such as prompt injection attacks or biased outputs, indicating a lack of capabilities beyond traditional IT playbooks.

    “This survey exposes a growing disconnect between AI policy and practice. Organizations that don’t address it are playing with fire and they know it,” said David Talby, CEO, Pacific AI. “Without responsible AI practices baked into the entire AI development lifecycle, developers and thereby the organizations they work for are escalating legal, financial, and reputational risks.”

    To help, Pacific AI provides a free AI Policy Suite available to anyone. Recent updates include an AI Incident Reporting Policy addressing some of the major gaps reported in the survey. Conforming to 110 different laws, regulations, and industry standards, the Policy Suite ensures companies are operating legally anywhere in the US. This can be especially beneficial to smaller organizations with limited resources that still need to track and implement evolving legislation and industry standards.

    Register here for our upcoming webinar,“The State of AI Governance,” detailing the research and outlining the priorities, practices, and concerns of technology leaders using AI. Read the full survey report here. To learn more about Pacific AI, visit https://pacific.ai/.

    About Pacific AI
    Pacific AI is dedicated to helping organizations deliver AI systems that comply with the rapidly evolving regulatory landscape in the USA. Whatever your starting point, Pacific AI can help you reach the next level of AI governance, implement tools and controls for compliance, or audit and certify what you’ve already built. To learn more, visit: https://www.pacific.ai.

    Contact
    Gina Devine
    Head of Communications
    Pacific AI Corp.
    gina@pacific.ai

    The MIL Network –

  • MIL-OSI: Annual Report and Financial Statements for the year ended 31 March 2025

    Source: GlobeNewswire (MIL-OSI)

    17 June 2025

    Northern Venture Trust PLC
    Annual Report and Financial Statements for the year ended 31 March 2025

    Northern Venture Trust PLC is a Venture Capital Trust (VCT) advised by Mercia Fund Management Limited. The trust was one of the first VCTs launched on the London Stock Exchange in 1995. It invests mainly in unquoted venture capital holdings and aims to provide long-term tax-free returns to shareholders through a combination of dividend yield and capital growth.

    Financial highlights (comparative figures as at 31 March 2024):

      Year ended
    31 March
    2025    		 Year ended
    31 March
    2024
    Net assets £121.3m £114.8m
    Net asset value per share 61.5p 60.3p
    Return per share    
    Revenue 0.4p 0.6p
    Capital 3.8p 1.2p
    Total 4.2p 1.8p
    Dividend per share declared in respect of the period    
    Interim dividend 1.6p 1.6p
    Proposed final dividend 1.5p 1.6p
    Total 3.1p 3.2p
    Return to shareholders since launch    
    Net asset value per share 61.5p 60.3p
    Cumulative dividends paid per share  ^* 195.3p 192.1p
    Cumulative return per share^ 256.8p 252.4p
    Mid-market share price at end of period 57.0p 57.5p
    Share price discount to net asset value 7.3% 4.6%
    Annualised tax-free dividend yield  ^** 5.1% 5.2%

    *        Excluding proposed final dividend payable on 5 September 2025.

    **        Based on net asset value per share at the start of the period.
    ^ Definitions of the terms and alternative performance measures used in this report can be found in the glossary of terms in the annual report.

    Chair’s statement

    Overview
    Over the past 12 months, the UK economy has displayed resilience, with inflation easing and interest rates falling, albeit at slower rates than initially forecasted. Uncertainties posed by geopolitical events and conflicts continue to cause volatility in the financial markets, and notably increased following the end of the financial reporting period.

    It is pleasing to note that the valuation of our unquoted portfolio has increased during the past year. Investment activity remained consistent with the two previous financial years, with £14.3 million invested in six new and 11 existing portfolio companies.

    Despite the macroeconomic environment, our share offer of £15 million was oversubscribed and I would like to thank existing shareholders for their continued support and warmly welcome new investors. Proceeds from the share offer, together with sales proceeds from investments, mean that the Company is well positioned both to pursue new opportunities to support small and medium businesses and to work with existing portfolio companies to realise their growth plans.

    Results and dividend
    In the year ended 31 March 2025 the Company delivered a return on ordinary activities of 4.2 pence per share (year ended 31 March 2024: 1.8 pence), representing a total return of 7.0% on the opening net asset value (NAV) per share. The NAV per share as at 31 March 2025, after deducting dividends paid during the year of 3.2 pence, was 61.5 pence, compared with 60.3 pence at 31 March 2024. The strong result for the year generated a performance fee to our Adviser of £399,000 (year ended 31 March 2024: £nil).

    There were six exits in the year, the most notable being Gentronix, sold for net proceeds of £6.1 million compared to an original cost of £1.4 million, a 4.5 times lifetime return.

    Investment income was higher than the prior period at £2.6 million (year ended 31 March 2024: £2.2 million), which included £0.8 million interest income on realised investments.

    In 2018 we revised our dividend policy in the light of the new VCT rules for investment introduced in 2015 and 2017, which we expected to result in more volatile returns. We introduced an annualised target dividend yield of 5% of opening NAV, which has been exceeded in every period since. Having already declared an interim dividend of 1.6 pence per share which was paid in January 2025, your Directors now propose a final dividend of 1.5 pence per share. The total of 3.1 pence per share is equivalent to 5.1% of the opening net asset value per share of 60.3 pence. The final dividend, if approved, will be paid on 5 September 2025 to shareholders on the register on 8 August 2025.

    Our dividend investment scheme, under which dividends can be re-invested in new ordinary shares free of dealing costs and with the benefit of the tax reliefs available on new VCT share subscriptions, continues to operate with around 16% participation during the year. Instructions on how to join the scheme are included within the dividend section of our website, which can be found here: mercia.co.uk/vcts/nvt/.

    Investment portfolio
    Investment activity has remained strong, with £8.9 million of capital provided to six new venture capital investments and £5.4 million of follow-on capital invested into the existing portfolio. We also made progress in realising the Company’s mature portfolio acquired under the previous VCT rules with the remaining such investments now totalling £9.4 million (31 March 2024: £16.0 million).

    The value of the portfolio increased by £5.6 million (2.8 pence per share) in the year, with several portfolio companies enjoying significant growth: Pure Pet Food and Project Glow Topco (t/a The Beauty Tech Group) both increased in value by over £3 million. Against this there were some significant write-downs in the investments in Adludio and Newcells Biotech.

    Share offers and liquidity
    In April 2024 shares related to the second allotment of the 2023/24 share offer, totalling £20 million, were issued. This allotment saw the issuance of 12,234,307 new ordinary shares, yielding gross subscriptions of £7.8 million.

    As a result of the public share offer launched in January 2025, 24,216,029 new ordinary shares were issued in April 2025, yielding gross proceeds of £15 million.

    The Board continues to monitor liquidity carefully and plans to raise up to £20 million of new capital in the 2025/26 tax year. Further details will be provided in due course.

    Share buy-backs
    We have maintained our policy of being willing to buy back the Company’s shares in the market when necessary, in order to maintain liquidity, at a 5% discount to NAV. During the year ended 31 March 2025 a total of 7,272,999 (year ended 31 March 2024: 5,263,205) shares were repurchased by the Company for cancellation at an average price of 56.6 pence (year ended 31 March 2024: 58.0 pence), representing 3.8% (year ended 31 March 2024: 3.2%) of the opening issued share capital.

    Responsible investment
    The Company is mindful of its Environmental, Social and Governance (ESG) responsibilities and we have outlined our evolving approach in the annual report.

    VCT legislation and qualifying status
    We have continued to meet the stringent and complex qualifying conditions laid down by HM Revenue & Customs for maintaining our approval as a VCT. The Investment Adviser monitors the position closely and reports regularly to the Board. Philip Hare & Associates LLP has continued to act as independent adviser to the Company on VCT taxation matters.

    In September 2024 we were pleased that the extension of the VCT Sunset Clause until 2035 was confirmed. The ‘Sunset Clause’ is a European state aid requirement which, without extension, would have removed the VCT tax reliefs that investors receive on newly issued VCT shares.

    Whilst no further amendments to VCT legislation have been announced, it is possible that further changes will be made in the future. We will continue to work closely with the Investment Adviser to maintain compliance with the scheme rules at all times.

    Investor communications
    The Board is conscious of its responsibility to communicate transparently and regularly with shareholders. Aside from the recent newsletter, we look forward to welcoming shareholders to our AGM and to our forthcoming investor seminar to be held on 7 October 2025 in London. A copy of the recent newsletter and details of how to register for the October seminar can be found on the Company’s website at www.mercia.co.uk/vcts/nvt/.

    Audit tender process
    Following a formal and rigorous audit tender process, the Board has resolved that it intends to recommend Johnston Carmichael LLP for appointment as the Company’s auditor for the financial year ending 31 March 2026 onwards, subject to shareholder approval at the AGM in 2025. Forvis Mazars will remain the Company’s auditor until the AGM in 2025. The Board would like to thank Forvis Mazars LLP for their diligent service over the past five years.

    Annual General Meeting
    The Company’s AGM will be held at 12:30pm on 5 August 2025. The AGM provides an excellent opportunity for shareholders, the Directors and the Investment Adviser to meet in person, exchange views and comment. We will hold the AGM in person at Fora, 210 Euston Road, London, NW1 2DA. We also intend to offer remote access for shareholders through an online webinar facility for those who would prefer not to travel. Full details and formal notice of the AGM are set out in a separate document. Please note that shareholders attending remotely must register their votes ahead of time, as it will not be possible to count votes from online participants at the AGM.

    Board succession
    John E Milad joined the Board on 21 August 2024. John brings over 25 years’ experience as an executive leader, board member, venture capital investor and investment banker focused on the life sciences and medical technology sectors. He is currently the CEO of ERS Genomics, a licenser of the Nobel Prize-winning CRISPR / Cas9 gene editing technology.

    Further biographical details for all the Directors can be found in the annual report.

    We will mark the retirement from the Board of David Mayes at the AGM. David was appointed in November 2014. Over the past decade, he has served the Company and its shareholders with dedication and commitment. On behalf of the Board and our shareholders, I would like to thank David for his valuable contributions and steadfast support to the Company during his tenure.

    Performance Fee
    I am pleased to report that the Company’s performance over the past financial year has met the threshold required to trigger the payment of a performance fee of £399,000 to the Investment Adviser. This outcome reflects a year of strong execution and value creation within the portfolio, and I would like to extend the Board’s thanks to the Adviser’s team for delivering results that warrant this reward.

    The performance fee has been calculated in line with the revised fee structure agreed with shareholders in 2023. Under this framework, which was designed to provide stronger alignment with long-term shareholder value creation, the performance fee payable is broadly comparable to the level that would have been paid under the legacy arrangement. The performance fee is intended to reward the Adviser for delivering sustained solid performance over time. In addition to the performance fee, the Company’s co-investment scheme continues to play a vital role in aligning the interests of the Adviser’s team with those of our shareholders. Together, these mechanisms provide a well-structured incentive framework that encourages long-term thinking and disciplined capital deployment in the interests of all shareholders.

    Outlook
    We are cautiously optimistic of the UK’s growth prospects, while remaining aware of and vigilant to the volatility generated from both domestic and global sources. We remain positive about the resilience, diversity and growth potential of the portfolio and its ability to generate long term shareholder value.

    Deborah Hudson
    Chair
    17 June 2025

    Income statement
    for the year ended 31 March 2025

        Year ended 31 March 2025   Year ended 31 March 2024
    Revenue
    £000    		 Capital
    £000    		 Total
    £000    		   Revenue
    £000    		 Capital
    £000    		 Total
    £000
    Gain / (loss) on disposal of investments       – 3,555 3,575   – 1,203 1,203
    Unrealised fair value gains / (losses) on investments       – 5,603 5,603   – 2,499 2,499
            – 9,158 9,158   – 3,702 3,702
                         
    Dividend and interest income       2,594 – 2,594   2,220 – 2,220
    Investment management fee       (568) (2,103) (2,671)   (516) (1,549) (2,065)
    Other expenses       (600) – (600)   (641) – (641)
                         
    Return before tax       1,426 7,055 8,481   1,063 2,153 3,216
    Tax on return       (592) 592 –   79 (79) –
                         
    Return after tax       834 7,647 8,481   1,142 2,074 3,216
                         
    Return per share       0.4p 3.8p 4.2p   0.6p 1.2p 1.8p

    Balance sheet
    as at 31 March 2025

        31 March
    2025
    £000    		   31 March
    2024
    £000
    Fixed assets            
    Investments       93,537   82,574
                 
    Current assets            
    Debtors       2,895   951
    Cash and cash equivalents       25,439   31,497
            28,334   32,448
                 
    Creditors (amounts falling due within one year)       (620)   (191)
    Net current assets       27,714   32,257
    Net assets       121,251   114,831
                 
    Capital and reserves            
    Called-up equity share capital       49,302   47,615
    Share premium       35,348   30,418
    Capital redemption reserve       8,476   6,658
    Capital reserve       20,451   28,099
    Revaluation reserve       6,779   882
    Revenue reserve       895   1,159
    Total equity shareholders’ funds       121,251   114,831
    Net asset value per share       61.5p   60.3p

    Statement of changes in equity
    for the year ended 31 March 2025

        Non-distributable reserves   Distributable reserves    
    Called-up share capital
    £000    		 Share premium
    £000    		 Capital redemption
    reserve
    £000    		 Revaluation reserve*
    £000    		   Capital
    reserve
    £000    		 Revenue
    reserve
    £000    		   Total
    £000
    At 31 March 2024       47,615 30,418 6,658 882   28,099 1,159   114,831
    Return after tax       – – – 5,897   1,750 834   8,481
    Dividends paid       – – – –   (5,282) (1,098)   (6,380)
    Net proceeds of share issues       3,505 4,930 – –   – –   8,435
    Shares purchased for cancellation       (1,818) – 1,818 –   (4,116) –   (4,116)
    At 31 March 2025       49,302 35,348 8,476 6,779   20,451 895   121,251

    for the year ended 31 March 2024

        Non-distributable reserves   Distributable reserves    
    Called-up share capital
    £000    		 Share premium
    £000    		 Capital redemption
    reserve
    £000    		 Revaluation reserve*
    £000    		   Capital
    reserve
    £000    		 Revenue
    reserve
    £000    		   Total
    £000
    At 31 March 2023       41,230 19,394 5,342 1,698   34,433 400   102,497
    Return after tax       – – – (816)   2,890 1,142   3,216
    Dividends paid       – – – –   (6,156) (383)   (6,539)
    Net proceeds of share issues       7,701 11,024 – –   – –   18,725
    Shares purchased for cancellation       (1,316) – 1,316 –   (3,068) –   (3,068)
    At 31 March 2024       47,615 30,418 6,658 882   28,099 1,159   114,831

    Statement of cash flows
    for the year ended 31 March 2025

          Year ended
    31 March
    2025
    £000    		   Year ended
    31 March
    2024
    £000
    Cash flows from operating activities              
    Return before tax         8,481   3,216
    Adjustments for:              
    (Gain) / loss on disposal of investments         (3,555)   (1,203)
    Movements in fair value of investments         (5,603)   (2,499)
    (Increase) / decrease in debtors         58   (103)
    Increase / (decrease) in creditors         429   8
    Net cash inflow / (outflow) from operating activities         (190)   (581)
                   
    Cash flows from investing activities              
    Purchase of investments         (14,258)   (15,351)
    Proceeds on disposal of investments         10,451   24,310
    Net cash inflow / (outflow) from investing activities         (3,807)   8,959
    Cash flows from financing activities              
    Issue of ordinary shares         8,801   19,353
    Share issue expenses         (366)   (628)
    Purchase of ordinary shares for cancellation         (4,116)   (3,068)
    Equity dividends paid         (6,380)   (6,539)
    Net cash inflow / (outflow) from financing activities         (2,061)   9,118
    Increase / (decrease) in cash and cash equivalents         (6,058)   17,496
    Cash and cash equivalents at beginning of year         31,497   14,001
    Cash and cash equivalents at end of year         25,439   31,497

    Investment portfolio
    31 March 2025

    Fifteen largest venture capital investments

    		 Cost
    £000    		 Valuation
    £000    		 Like for like valuation
    increase / (decrease)
    over year**
    £000    		 % of net assets
    by value    		  
    1 Project Glow Topco (t/a The Beauty Tech Group) 1,686 7,323 3,766 6.0%  
    2 Pure Pet Food 1,675 6,205 3,301 5.1%  
    3 Rockar 1,877 3,559 393 2.9%  
    4 Pimberly 2,060 3,520 41 2.9%  
    5 Tutora (t/a Tutorful) 3,305 3,305 – 2.7%  
    6 Forensic Analytics 2,717 2,717 – 2.2%  
    7 Netacea 2,631 2,631 – 2.2%  
    8 Biological Preparations Group 2,366 2,620 445 2.2%  
    9 Ridge Pharma 1,497 2,527 359 2.1%  
    10 Enate 1,516 2,176 659 1.8%  
    11 LMC Software 1,950 2,156 207 1.8%  
    12 Broker Insights 2,076 2,152 68 1.8%  
    13 Turbine Simulated Cell Technologies 1,863 2,074 22 1.7%  
    14 Clarilis 1,972 1,972 – 1.6%  
    15 Semble 1,951 1,951 – 1.6%  
    Other venture capital investments          
    16 Naitive Technologies 1,836 1,938 104 1.6%  
    17 Napo 1,933 1,933 – 1.6%  
    18 Risk Ledger 1,412 1,911 500 1.6%  
    19 Social Value Portal 1,888 1,888 – 1.5%  
    20 Administrate 2,906 1,842 (184) 1.5%  
    21 Send Technology Solutions 1,770 1,838 69 1.5%  
    22 Moonshot 1,329 1,805 478 1.5%  
    23 IDOX* 238 1,799 (139) 1.5%  
    24 Newcells Biotech 3,225 1,777 (1,693) 1.5%
    25 Volumatic Holdings 216 1,773 (148) 1.5%
    26 Locate Bio 1,753 1,753 – 1.4%
    27 VoxPopMe 1,660 1,660 – 1.4%
    28 Camena Bioscience 1,594 1,594 – 1.3%
    29 Wonderush Ltd (t/a Hownow) 1,421 1,421 – 1.2%
    30 Ski Zoom (t/a Heidi Ski) 1,404 1,404 – 1.2%
    31 Axis Spine Technologies 1,353 1,357 4 1.1%
    32 Buoyant Upholstery 672 1,349 (719) 1.1%
    33 Culture AI 1,324 1,324 – 1.1%
    34 Duke & Dexter 1,237 1,281 637 1.1%
    35 Promethean 1,281 1,281 – 1.1%
    36 Optellum 1,276 1,276 – 1.1%
    37 Rego Technologies (t/a Upp)(formerly Volo) 2,504 1,104 401 0.9%
    38 Centuro Global 1,038 1,038 – 0.9%
    39 iOpt 941 1,025 84 0.8%
    40 Tozaro (formerly MIP Discovery) 1,025 1,025 – 0.8%
    41 Scalpel 976 976 – 0.8%
    42 Seahawk Bidco 513 971 (21) 0.8%
    43 Wobble Genomics 968 968 – 0.8%
    44 Warwick Acoustics 964 964 – 0.8%
    45 Oddbox 1,093 869 71 0.7%
    46 Synthesized 510 751 240 0.6%
    47 Quotevine 1,311 495 495 0.4%
    48 Thanksbox (t/a Mo) 1,685 402 (13) 0.3%
    49 Atlas Cloud 704 387 (1) 0.3%
    50 RTC Group* 436 345 – 0.3%
    51 Fresh Approach (UK) Holdings 885 313 (127) 0.3%
    52 Sorted 182 241 58 0.2%
    53 Arnlea Holdings 1,305 227 (11) 0.2%
    54 Sen Corporation 681 141 (156) 0.1%
    55 Northrow 1,494 76 (615) 0.1%
    56 Angle* 131 36 (9) 0.0%
    57 Adludio 2,927 33 (2,904) 0.0%
    58 Customs Connect Group 1,525 33 (80) 0.0%
    59 Velocity Composites* 90 25 (6) 0.0%
      Total venture capital investments 86,758 93,537   77.1%
      Net current assets   27,714   22.9%
      Net assets   121,251   100.0%

    *        Listed on AIM.

    **        This change in ‘like for like’ valuations is a comparison of the 31 March 2025 valuations with the 31 March 2024 valuations (or where a new investment has been made in the year, the investment amount), having adjusted for any partial disposals, loan stock repayments or new and follow-on investments in the year.

    Risk management
    The Board carries out a regular and robust assessment of the risk environment in which the Company operates and seeks to identify new risks as they emerge. The principal and emerging risks and uncertainties identified by the Board which might affect the Company’s business model and future performance, and the steps taken with a view to their mitigation, are as follows:

    Risk Mitigation
    Availability of qualifying investments: there can be no guarantee that suitable investment opportunities will be identified in order to meet the Company’s objectives, which could have an adverse effect on Investor returns. Additionally, the Company’s ability to obtain maximum value from its investments may be limited by the requirements of the relevant VCT Rules in order to maintain the VCT status of the Company. The Investment Adviser has a dedicated investment team that identifies and transacts in qualifying investments. The Directors regularly meet with the Investment Adviser to maintain awareness of the pipeline, and factors this into the Company’s fund raising plans.
    Credit risk: the Company holds a number of financial instruments and cash deposits and is dependent on the counterparties discharging their commitment. Such balances my be held with banks or in money market funds as part of the Company’s liquidity management. The Directors review the creditworthiness of the counterparties to these instruments including the rating of money market funds to seek to manage and mitigate exposure to credit risk.
    Economic and geopolitical risk: events such as economic recession or general fluctuation in stock markets, exchange rates and interest rates, notwithstanding recent lower inflation and falling interest rates, may affect the valuation of investee companies and their ability to access adequate financial resources, as well as affecting the Company’s own share price and discount to net asset value. In addition, US trade policy and hostilities in the Middle East and Ukraine (including sanctions on the Russian Federation) may have further economic consequences as a result of market volatility and the restricted access to certain commodities and energy supplies. Such conditions may adversely affect the performance of companies in which the Company has invested (or may invest), which in turn may adversely affect the performance of the Company, and may have an impact on the number or quality of investment opportunities available to the Company and the ability of the Investment Adviser to realise the Company’s investments. Any of these factors could have an adverse effect on Investor returns. The Company invests in a diversified portfolio of investments spanning various industry sectors and which are at different stages of growth. The Company maintains sufficient cash reserves to be able to provide additional funding to investee companies where it is appropriate and in the interests of the Company to do so. The Investment Adviser’s team is structured such that appropriate monitoring and oversight is undertaken by an experienced investment executive. As part of this oversight, the investment executive will guide and support the board of each unquoted investee company. At all times, and particularly during periods of heightened economic uncertainty, the investment team of the Investment Adviser share best practice from across the portfolio with the investee management teams in order to help with addressing economic challenges.
    Financial risk: most of the Company’s investments involve a medium to long-term commitment and many are illiquid. The Directors consider that it is inappropriate to finance the Company’s activities through borrowing except on an occasional short-term basis. Accordingly they seek to maintain a proportion of the Company’s assets in cash or cash equivalents in order to be in a position to pursue new unquoted investment opportunities and to make follow-on investments in existing portfolio companies. The Company has very little direct exposure to foreign currency risk and does not enter into derivative transactions.
    Investment and liquidity risk: the Company invests in early stage companies which may be pre-revenue at the point of investment. Portfolio companies may also require significant funds, through multiple funding rounds to develop their technology or the products being developed may be subject to regulatory approvals before they can be launched into the market. This involves a higher degree of risk and company failure compared to investment in larger companies with established business models. Early stage companies generally have limited product lines, markets and financial resources and may be more dependent on key individuals. The securities of companies in which the Company invests are typically unlisted, making them particularly illiquid and may represent minority stakes, which may cause difficulties in valuing and disposing of the securities. The Company may invest in businesses whose shares are quoted on AIM however this may not mean that they can be readily traded and the spread between the buying and selling prices of such shares may be wide. The Directors aim to limit the investment and liquidity risk through regular monitoring of the investment portfolio and oversight of the Investment Adviser, who is responsible for advising the Board in accordance with the Company’s investment objective. The investment and liquidity risks are mitigated through the careful selection, close monitoring and timely realisation of investments, by carrying out rigorous due diligence procedures and maintaining a wide spread of holdings in terms of financing stage and industry sector within the rules of the VCT scheme. The Board reviews the investment portfolio and liquidity with the Investment Adviser on a regular basis.
    Legislative and regulatory risk: in order to maintain its approval as a VCT, the Company is required to comply with current VCT legislation in the UK. Changes to UK legislation in the future could have an adverse effect on the Company’s ability to achieve satisfactory investment returns whilst retaining its VCT approval. The Company is registered with the Financial Conduct Authority (FCA) as a small internally managed AIF and is required to comply with a number of reporting and other regulatory requirements. Failure to comply correctly or changes in the regulatory regime could affect the status of the VCT. The Board and the Investment Adviser monitor political developments and where appropriate seek to make representations either directly or through relevant trade bodies. The Board also works closely with the Adviser to ensure that the Company remains compliant with the relevant regulatory requirements.
    Operational risk: the Company does not have any employees and the Board relies on a number of third party providers, including the Investment Adviser, registrar and custodian, sponsor, receiving agent, lawyers and tax advisers, to provide it with the necessary services to operate. Such operations delegated to the Company’s key service providers may not be performed in a timely or accurate manner, resulting in reputational, regulatory, or financial damage. The risk of cyber-attack or failure of the systems and controls at any of the Company’s third party providers may lead to an inability to service shareholder needs adequately, to provide accurate reporting and accounting and to ensure adherence to all VCT legislation rules. The Board has appointed an Audit and Risk Committee, who monitor the effectiveness of the system of internal controls, both financial and non-financial, operated by the Company and the Investment Adviser. These controls are designed to ensure that the Company’s assets are safeguarded and that proper accounting records are maintained. Third party suppliers are required to have in place their own risk and controls framework, business continuity plans and the necessary expertise and resources in place to ensure that a high quality service can be maintained even under stressed scenarios.
    Performance of the Investment Adviser: the successful implementation of the Company’s investment policy is dependent on the expertise of the Investment Adviser and its ability to attract and retain suitable staff. The Company’s ability to achieve its investment objectives is largely dependent on the performance of the Investment Adviser in the acquisition and disposal of assets and the management of such assets. The Board has broad discretion to monitor the performance of the Investment Adviser and the power to appoint a replacement, but the Investment Adviser’s performance or that of any replacement cannot be guaranteed. The Board have both formal reviews by way of the Management Engagement Committee and Board meetings, and informal reviews over the course of the year outside of the formal Board timetable. Performance is closely monitored, including receiving detailed league table information and other market intelligence. Any concerns or suggestions are passed to the Investment Adviser, which are robustly challenged.
    Stock market risk: a small proportion of the Company’s investments are quoted on AIM and will be subject to market fluctuations upwards and downwards. External factors such as terrorist activity, political activity or global health crises, can negatively impact stock markets worldwide. In times of adverse sentiment there may be very little, if any, market demand for shares in smaller companies quoted on AIM. The Company’s small number of holdings of quoted investments are actively managed by the Investment Adviser, and the Board keeps the portfolio and the actions taken under ongoing review.
    VCT qualifying status risk: while it is the intention of the Directors that the Company will be managed so as to continue to qualify as a VCT, there can be no guarantee that this status will be maintained. A failure to continue meeting the qualifying requirements could result in the loss of VCT tax relief, the Company losing its exemption from corporation tax on capital gains, to shareholders being liable to pay income tax on dividends received from the Company and, in certain circumstances, to shareholders being required to repay the initial income tax relief on their investment. The Investment Adviser keeps the Company’s VCT qualifying status under continual review and its reports are reviewed by the Board on a quarterly basis. The Board has also retained Philip Hare & Associates LLP to undertake an independent VCT status monitoring role.

    Other matters

    The above summary of results for the year ended 31 March 2025 does not constitute statutory financial statements within the meaning of Section 435 of the Companies Act 2006 and has not been delivered to the Registrar of Companies. Statutory financial statements will be filed with the Registrar of Companies in due course; the independent auditor’s report on those financial statements under Section 495 of the Companies Act 2006 is unqualified, does not include any reference to matters to which the auditor drew attention by way of emphasis without qualifying the report and does not contain a statement under Section 498 (2) or (3) of the Companies Act 2006.

    The calculation of the return per share is based on the return after tax for the year of £8,481,000 (2024: £3,216,000) and on 200,018,249 (2024: 179,260,563) shares, being the weighted average number of shares in issue during the period.

    If approved by shareholders, the proposed final dividend of 1.5 pence per share for the year ended 31 March 2025 will be paid on 5 September 2025 to shareholders on the register at the close of business on 8 August 2025.

    The full annual report including financial statements for the year ended 31 March 2025 is expected to be made available to shareholders on or around 27 June 2025 and will be available to the public at the registered office of the company at Forward House, 17 High Street, Henley-in-Arden B95 5AA and on the Company’s website.

    The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website) are not incorporated into, nor form part of, this announcement.

    The MIL Network –

  • MIL-OSI: TopLine Financial Credit Union Partners With The Federal Home Loan Bank of Des Moines to Award $40,000 to Community Non-Profit Partners

    Source: GlobeNewswire (MIL-OSI)

    Member Impact Fund Grant Program Supports Affordable Housing and Community Development      

    MAPLE GROVE, Minn., June 17, 2025 (GLOBE NEWSWIRE) — TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that four Minnesota community non-profit organizations will each receive a $10,000 grant from the Member Impact Fund, for a total of $40,000 awarded. This matching grant program will result in FHLB Des Moines awarding $20 million in funding to support affordable housing and community development in Minnesota.

    The grant funds will be used to support a variety of funding gaps that are being experienced by four non-profits that TopLine Financial Credit Union is proud to partner with, and together dedicated to improving affordable housing and community development initiatives. Grants will support the following non-profits and initiatives:

    • Avenues for Youth: funds will be used to subsidize food expenses, as they are no longer receiving assistant from a community food shelf, and combined with inflation has led to rising expenses, estimated at $25,000 annually.   Avenues serves 300 youth/families annually (90% of the youth identify as BIPOC and 38% identify as LGBTQI+).
    • Karen Organization of Minnesota: funds will be used for a Summer Youth Chemical Dependency Program, to serve 33 young people. The program promotes experiential learning, and a case management team to assist clients in recovery and treatment.
    • Keystone Community Services: funds will support a Foodmobile program, a mobile food shelf that brings food directly to under-resourced neighborhoods across Ramsey County. It operates over 25 times each month, providing fresh produce, canned goods, and pantry staples at community centers, senior housing, schools, and health clinics.
    • Union Gospel Mission Twin Cities: funds will be used for the Naomi Family Program, which provides transitional shelter and wraparound support for women and children in crisis, to bridge them to stable housing and independence.

    “We extend our sincere gratitude to the Federal Home Loan Bank of Des Moines for their invaluable partnership. We deeply appreciate their Member Impact Fund initiative, which tripled the impact of TopLine’s community donations, supporting our local communities,” said Mick Olson, President and CEO of TopLine Financial Credit Union. “This grassroots local community give-back is a powerful testament to partners uniting in their unwavering commitment to support those in need and facing crisis.”

    TopLine was proud to personally present the funds to each non-profit partner, and on behalf of the Federal Home Loan Bank of Des Moines (FHLB Des Moines).

    “We are thrilled to receive this generous funding initiated by TopLine and triple-matched by FHLB. These funds for the Naomi Family Program will strengthen our ability to serve women and children experiencing homelessness as we walk alongside and equip them for a brighter future with financial stability and secure housing,” says Pam Stegora Axberg, CEO, Union Gospel Mission Twin Cities.

    “Food insecurity is at record levels, and the Keystone Foodmobile is a vital way we meet people where they are,” said Adero Riser Cobb, President and CEO of Keystone Community Services. “This support helps us reach more neighborhoods with healthy, culturally relevant food and break down barriers to access.”

    “The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” says Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”

    Recipient organizations were selected based on the needs for grant funding to support capacity-building or working capital necessary to strengthen their ability to serve affordable housing or community development needs including job training, affordable housing, financial literacy, food banks and youth programs.

    Federal Home Loan Bank of Des Moines provides funding solutions to more than 1,200 members to support mortgage lending, economic development and affordable housing in the communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. The Member Impact Fund provides FHLB Des Moines members up to $3 for every $1 in matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of communities.

    FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.

    TopLine Financial Credit Union, a Twin Cities-based credit union, is Minnesota’s 9th largest credit union, with assets of over $1.1 billion and serves over 70,000 members. Established in 1935, the not-for-profit financial cooperative offers a complete line of financial services from its ten branch locations — in Bloomington, Brooklyn Park, Champlin, Circle Pines, Coon Rapids, Forest Lake, Maple Grove, Plymouth, St. Francis and in St. Paul’s Como Park — as well as by phone and online at www.TopLinecu.com. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington and Wright counties in Minnesota and their immediate family members, as well as employees and retirees of Anoka Hennepin School District #11, Anoka Technical College, Federal Premium Ammunition, Hoffman Enclosures, Inc., GRACO, Inc., and their subsidiaries. Visit us on our Facebook or Instagram. To learn more about the credit union’s foundation, visit www.TopLinecu.com/Foundation.

    CONTACT:
    Vicki Roscoe Erickson
    Senior Vice President and Chief Marketing Officer
    TopLine Financial Credit Union
    verickson@toplinecu.com | 763.391.0872

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0e9c239-4105-42eb-8198-e7644dce7800

    The MIL Network –

  • MIL-OSI United Kingdom: Scotland in 2050

    Source: Scottish Government

    Opportunities and challenges for the future.

    First Minister John Swinney has launched new analysis on the trends that could shape the future of Scotland in the next 10 to 20 years, saying that Scotland must “take charge of our own destiny” as an independent country to shape our own future.

    ‘Future Trends for Scotland’ sets out the plausible opportunities and challenges facing Scotland, and could inform Scottish Government policy and the work of our partners in Scotland.

    The reports show Scotland can make the most of opportunities including new energy potential, growing success in space and life sciences and widespread adoption of AI alongside the emergence of quantum technology.

    Challenges facing Scotland resonate with those seen across the world including growing risks to democracy because of mis- and disinformation, more frequent conflicts, increasing inequalities and climate change. 

    Addressing the Scotland 2050 conference in Edinburgh, First Minister John Swinney said:

    “The Scotland of 2050 will be shaped by a series of unpredictable forces, by new technologies we have only half-imagined in the pages of science fiction, by conflicts now only simmering, by people who are only just born but it will also be shaped by us. By the decisions we take, the policy choices we implement, the vision and path forward that we set out.

    “That is a great responsibility, but for me it is also exciting, inspiring, and a privilege to shape it as First Minister. 

    “With the Future Trends horizon scan, we have the best available Scotland specific analysis to inform our decisions, both now and for the future. 

    “It shows both hurdles and new horizons for our society and economy. Warnings where we need to change, or up the pace, but also doors opening, if we have the courage to walk through them with confidence, with boldness and self-belief.

    “And it is by shaping strategy and policy towards achieving long-term outcomes that we will be ready for this new world as it evolves.

    “It is only by taking charge of our own destiny, with our own hand on the tiller, that we are better able to ride the waves of change, that we are better able to shape our own future.

    “That does not mean a Scotland standing alone, but rather a nation that has worked out its place in the world, and the contribution it wants to make to the world.

    “An ongoing deep and rich partnership with the other nations of these isles, absolutely, but ultimately as a nation state in our own right, as a Member State of the world’s largest trading block, the world’s biggest social and economic community, the European Union.”

    Background

    Future Trends for Scotland – Findings from the 2024-25 Horizon Scanning Project – gov.scot

    Young People and the Future of Scotland – A Participatory Horizon Scanning Engagement – gov.scot

    Scotland 2050 Conference: First Minister’s Speech – gov.scot

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Short Line Rail Infrastructure Investment Increases by 88 Per Cent

    Source: Government of Canada regional news

    Released on June 17, 2025

    Today, Highways Minister David Marit announced the provincial government’s allocations of $1 million in short line rail infrastructure investments, an increase of $470,000 or 88 per cent from last year’s budget. This increase recognizes the key role rail transportation plays supporting Saskatchewan’s export-based economy.

    “Short line railways are an integral link that help move our commodities to markets around the world,” Marit said. “They support Saskatchewan’s export-based economy that sustains our quality of life. Short lines are a safe and efficient way to move bulk commodities, which reduces wear and tear on Saskatchewan highways.”

    Ministry of Highways’ Short Line Railway Improvement Program (SRIP) funding will go toward track upgrades and expansion, improved crossing surfaces and sightlines, bridge maintenance, track rehabilitations and other projects. As the SRIP is a 50-50 cost-sharing program between the provincial government ($1 million) and privately-owned short lines ($1 million) for eligible projects, the total short line rail infrastructure investment will be up to $2 million this year under this program.

    Provincial government funding allocations for 2025-26 are:

    • Big Sky Rail (Delisle, Eston, Elrose region) $167,541.
    • Carlton Trail Railway (Saskatoon to Prince Albert area) $71,391.
    • Great Sandhills Railway (Swift Current to Leader area) $82,945.
    • Great Western Railway (Assiniboia, Shaunavon, Coronach area) $250,073.
    • Last Mountain Railway (Regina to Davidson) $56,122.
    • Long Creek Railroad (west of Estevan) $45,000.
    • Northern Lights Rail (west of Melfort) $45,000.
    • Red Coat Road and Rail (Ogema area) $47,456.
    • Southern Rails Cooperative (south of Moose Jaw) $45,000.
    • Stewart Southern Railway (southwest of Regina to Stoughton) $54,471.
    • Thunder Rail (Arborfield area) $45,000.
    • Torch River Rail (Nipawin to Choiceland area) $45,000.
    • Wheatland Rail (Cudworth, Wakaw area) $45,000.

    “The Western Canadian Short Line Railway Association thanks the Saskatchewan Ministry of Highways for their support of the short line railway industry,” Western Canadian Short Line Railway Association Director of Communications and Government Relations Rachel Mackenzie said. “Rising material costs over the last three years means that it is now more expensive per mile for railways to maintain their tracks to meet and exceed the safety and performance standards required.

    “The Saskatchewan railway improvement program now provides more funding per mile to support the maintenance and improvement of this valuable trade-enabling infrastructure. This increase of almost 90 per cent to the program will go a long way to further supporting the value that short line railways bring to the supply chain.”

    The provincial grants provide up to 50 per cent of eligible project costs and determined by how much track each short line owns. Short lines with less than 80 kilometres of track receive at least $45,000. Larger networks receive a proportional amount based on how much track they operate.

    Thirteen provincially regulated short line railways operate on 2,123 kilometres of track in Saskatchewan.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: Grothman and Cruz Introduce Bicameral CREATE JOBS Act

    Source: United States House of Representatives – Congressman Glenn Grothman (R-Glenbeulah 6th District Wisconsin)

    Congressman Glenn Grothman (R-WI) joins Senator Ted Cruz (R-TX) in introducing the CREATE JOBS Act, a bicameral bill which will restore key pro-manufacturing provisions of the Tax Cuts and Jobs Act (TCJA), incentivizing domestic production and creating over one million full-time jobs for hardworking Americans.
    The CREATE JOBS Act would reinstate and make permanent two expired TCJA provisions that were vital in driving manufacturing growth and attracting investment back to the U.S. In addition, the bill applies neutral cost recovery for structures, such as factories. Taken together, these provisions will bolster manufacturing, raise wages, and create good-paying jobs.
    “The Tax Cuts and Jobs Act (TCJA) delivered major wins for American families and workers, but some of its most powerful tools for growth have already expired, hurting the competitiveness of the manufacturing industry,” said Grothman. “Wisconsin’s Sixth District is the most manufacturing intensive district in the country, so I’ve seen directly how this affects the hardworking men and women at home.
    “The bottom line is we must make these provisions permanent to support our manufacturers, restore what we know works, and expand policies that strengthen our economy and create jobs across the nation. After our workforce has suffered through inflation and economic turmoil over the past four years, I’m proud to join Senator Ted Cruz in introducing the CREATE JOBS Act to invest in American workers and grow our industrial base.”

    “As Congress considers extending immediate deductions for research and equipment, it’s long past time to give structures similar treatment. The 2017 tax cuts were a leap forward for investment, but they left buildings behind. By fixing that omission, the CREATE JOBS Act levels the playing field for all types of investment and unlocks capital for American manufacturing. Updating cost recovery for all investments is the single most pro-manufacturing, pro-growth reform Congress could include in reconciliation,” said Adam Michel, Director of Tax Policy Studies at the Cato Institute.

     

    “WMC thanks Rep. Grothman for his leadership making the Wisconsin and American economies pro-business.  One-hundred percent bonus deprecation and full-expensing of R&D costs were boons for economic growth across Wisconsin and the country following the passage of the 2017 Tax Cuts and Jobs Act.   Making these provisions permanent will provide predictability for business investments, make America more attractive for growth, and ultimately strengthen our economy.  The CREATE JOBS Act is common-sense policy that is positively pro-business and promotes job creation right here in Wisconsin and across America,” said Kurt Bauer, President & CEO at Wisconsin Manufacturers & Commerce (WMC).

     

    Background Information

     

    The CREATE JOBS Act would make permanent two key pro-manufacturing provisions of the TCJA and create further incentives to produce domestically.

    Specifically, the bill would make the bonus-depreciation and full-expensing for research and development (R&D) provisions of the TCJA permanent and apply neutral cost recovery to rental units and commercial structures, like factories.

    According to the Tax Foundation, these provisions would increase long-run GDP by 5.1 percent, increase wages by 4.3 percent, and create over one million full-time jobs for American workers.

    Senator Ted Cruz previously introduced this bill in 2020, 2021, and 2023.

    U.S. Rep. Glenn Grothman (R-Glenbeulah) is serving his fifth term representing Wisconsin’s 6th Congressional District in the U.S. House of Representatives. 

    MIL OSI USA News –

  • MIL-OSI USA: Business Owner Sentenced After Receiving More than $1.6 Million in Funds from the CARES Act

    Source: United States Small Business Administration

    Click Here to View the Original U.S. Department of Justice (DOJ) Press Release

    A former Oklahoma man with business ties in Florida was sentenced today after pleading guilty to four counts of bank fraud, announced U.S. Attorney Clint Johnson.

    U.S. District Judge Sara E. Hill sentenced Shawn Ray Murnan, 57, of Windemere, Florida, to 33 months imprisonment, followed by five years of supervised release. Judge Hill further ordered Murnan to pay $1,641,796.47 in restitution to the U.S. Small Business Administration (SBA).

    “In 2020, the CARES Act funding was established to provide emergency financial assistance to help businesses that were disrupted,” said U.S. Attorney Clint Johnson. “Investigators and prosecutors are committed to finding those like Murnan who steal government funding and prosecuting them to the fullest extent of the law.”

    From April 2020 through October 2021, Murnan admitted to falsifying several CARES Act applications to the SBA. Murnan was the owner of numerous business ventures in Oklahoma, Florida, and other states. He submitted 14 applications on behalf of his businesses, including Blujett, LLC, which was based in Broken Arrow. He submitted applications claiming to have several employees and falsified his payroll expenses. Murnan requested more than two million and successfully received $1,641,796.47 from seven Paycheck Protection Program loans and two Economic Injury Disaster Loans. After receiving the funds, Murnan applied for the loans to be forgiven.

    Previously released on bond, Murnan was taken into custody following the sentencing today, where he will remain pending transfer to the U.S. Bureau of Prisons.

    The Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau, the Office of Inspector General for the Small Business Administration, and the U.S. Treasury Inspector General for Tax Administration investigated the case. Assistant U.S. Attorney David Whipple prosecuted the case.

    The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the Paycheck Protection Program (PPP). Since the inception of the CARES Act, the Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real estate properties and luxury items purchased with such proceeds. More information can be found at Justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.

    Related programs: COVID EIDL, Disaster, Pandemic Oversight, PPP

    MIL OSI USA News –

  • MIL-OSI: RegEd Publishes Report on the Latest Trends in Producer Management and Compliance

    Source: GlobeNewswire (MIL-OSI)

    Raleigh, NC, June 17, 2025 (GLOBE NEWSWIRE) — RegEd, the market leader in enterprise producer management solutions for the insurance and financial services industry, today announced the release of its latest whitepaper, “Producer Management and Compliance: Insights on Distribution Management Trends, Technology and Opportunities.” The whitepaper summarizes findings from RegEd’s comprehensive industry survey and delivers a clear message: manual processes and fragmented technology continue to hinder the efficiency, compliance, and scalability of producer management across the insurance and financial services sectors. 

    Drawing responses from professionals in licensing, compliance, operations, and distribution across life, health, P&C, and specialty insurance, the survey exposes widespread inefficiencies and opportunities for transformation. More than 80% of respondents cited time-consuming, manual workflows as a primary challenge, with 61% pointing to ineffective technology tools. Meanwhile, just 4% reported having a fully integrated producer management system. 

    “This data reveals an inflection point for the industry,” said Jacob Spitzley, Director of Product Management at RegEd. “As regulatory complexity increases and competition for top producers intensifies, firms cannot afford the delays and risks that stem from outdated systems. Automation and integration have become table stakes – they’re mission-critical strategies for staying compliant, accelerating onboarding, and creating a frictionless producer experience that drives competitive advantage.” 

    Key Takeaways from the Survey Include: 

    • Manual Workflows Are Costly: 82% of firms report time-consuming manual processes; 50% still track compliance manually. 
    • Technology Gaps Remain: 64% rely on internally developed systems – and among them, 89% cite time-consuming or manual processes as a key challenge. 
    • Technology as Cost Savings Measure: 77% cite technology adoption as their most effective cost-management strategy. 
    • AI Adoption Lags: Just 15% currently use AI in producer management, though interest is growing. 
    • Onboarding Bottlenecks: 70% take one to two weeks to onboard new agents, and none report same-day onboarding – yet nearly half express only neutral satisfaction with their technology, suggesting many have adapted to inefficiencies rather than resolved them. 
    • Compliance Validation Needs Modernization: 67% still use manual checks at business placement, raising Not-in-Good-Order (NIGO) rates. 

    Despite these challenges, the report also highlights significant momentum toward modernization. Half of firms plan to invest significantly in producer management technology over the next few years, and many are beginning to explore managed services and AI-powered solutions to ease back-office burdens. 

    The whitepaper serves as both a benchmark and a roadmap for firms navigating an increasingly complex regulatory and operational landscape. It offers practical guidance for aligning with best practices and transforming producer management into a competitive advantage. 

    Visit here to download your copy of the full report. 

    About RegEd 

    RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms. 

    Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk. 

    Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

    The MIL Network –

  • MIL-OSI China: Xi says China-Kyrgyzstan cooperation holds great potential 2025-06-17 22:05:10 Chinese President Xi Jinping on Tuesday said that cooperation between China and Kyrgyzstan holds great potential, urging the two countries to scale up trade and investment and expand cooperation in emerging sectors.

    Source: People’s Republic of China – Ministry of National Defense

    Chinese President Xi Jinping meets with Kyrgyz President Sadyr Japarov on the sidelines of the second China-Central Asia Summit in Astana, Kazakhstan, June 17, 2025. (Xinhua)

    ASTANA, June 17 (Xinhua) — Chinese President Xi Jinping on Tuesday said that cooperation between China and Kyrgyzstan holds great potential, urging the two countries to scale up trade and investment and expand cooperation in emerging sectors.

    Xi made the remarks in a meeting with Kyrgyz President Sadyr Japarov on the sidelines of the second China-Central Asia Summit in the Kazakh capital of Astana.

    Since the establishment of diplomatic ties 33 years ago, China-Kyrgyzstan relations have achieved leapfrog development and are now at their best in history, Xi noted.

    The Chinese president recalled that he held a fruitful meeting with Japarov in Beijing in February, where they reached a series of important consensuses that have injected new and strong impetus into bilateral cooperation.

    China is ready to work with Kyrgyzstan to continuously deepen the alignment of development strategies, continue to firmly support each other on issues concerning their respective core interests and major concerns, and safeguard common and long-term interests of both sides, he said.

    Xi urged the two sides to deepen financial cooperation, improve connectivity networks and advance the high-quality construction of the China-Kyrgyzstan-Uzbekistan railway.

    He also called on the two sides to foster new drivers of growth in clean energy, green minerals and artificial intelligence, enhance communication in fields such as culture, tourism, education and health, and implement more projects that benefit the people.

    Noting that China and Kyrgyzstan are both beneficiaries of economic globalization, he called on the two sides to jointly oppose unilateralism, firmly safeguard the international economic and trade order, and promote a more just and equitable global governance system.

    Noting that the two sides will successively assume the rotating presidency of the Shanghai Cooperation Organization (SCO) and host summits, Xi said that China is willing to work with Kyrgyzstan to support each other and jointly promote the greater development of the SCO.

    For his part, Japarov said that under the outstanding leadership of President Xi, China has strived forward on the path of prosperity and strength, achieving great accomplishments and playing a crucial guiding role on the international stage.

    The Kyrgyz side attaches great importance to the development of relations with China and cherishes the strategic partnership built on mutual respect, equality and mutual benefit, and good-neighborly friendship, Japarov said.

    On issues concerning China’s core interests, the Kyrgyz side, he said, firmly supports China’s stance, adheres to the one-China principle, opposes all forms of “Taiwan independence,” and opposes any interference by external forces in China’s internal affairs.

    Noting that China is Kyrgyzstan’s largest trading and investment partner, Japarov said the Kyrgyz side welcomes more Chinese enterprises to do business in Kyrgyzstan, stands ready to work with China to jointly advance such projects as the China-Kyrgyzstan-Uzbekistan railway, strengthen cooperation in energy, green minerals and other fields, and better benefit the peoples of both countries.

    Japarov said the Kyrgyz side actively supports the three major global initiatives proposed by President Xi and is ready to work with China to jointly implement them.

    Kyrgyzstan will closely coordinate and cooperate with China within the United Nations, the SCO and the China-Central Asia mechanism to promote regional and global security, stability, development and prosperity, he added.

    Following the meeting, the two heads of state witnessed the signing of multiple bilateral cooperation documents covering agriculture, customs, science and technology, media and other fields. 

    Chinese President Xi Jinping meets with Kyrgyz President Sadyr Japarov on the sidelines of the second China-Central Asia Summit in Astana, Kazakhstan, June 17, 2025. (Xinhua/Zhai Jianlan)

    MIL OSI China News –